The branches of two foreign companies announced curtailment of their activity in Azerbaijan today.
The Singapore company Gralyn Events PTE Ltd opened a branch in Baku in November last year. The company itself was established in July 2015. What the company did in Azerbaijan is not known.
The Turkish company Elit Tasarim Dekorasyon has announced the closure of its branch in Azerbaijan for the second time in the last 12 months. The branch operated from December 2010.
LLC Organikdom was established by a Ukrainian citizen Larisa Simonenko in 2012. This company also warned the creditors of the closure from 5 April 2017. ---08D
Economics
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The Central Bank of Azerbaijan (CBA) has approved the "Green Taxonomy," according to a decision by its Board of Directors on November 13.
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Azerbaijan's state oil and gas company, SOCAR, has signed a joint development agreement with Bulgaria’s "Asarel Energy," part of the Asarel Medet holding group. The agreement was signed on November 13 during the COP29 summit in the presence of the Presidents of Azerbaijan and Bulgaria, Ilham Aliyev and Rumen Radev.
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Saudi Electricity CEO Khalid Al-Hamidi and Baba Rzayev, Chairman of Azerbaijan's state-owned energy company Azerenergy, signed a memorandum of understanding (MoU) on Wednesday during the COP29 summit in Baku. The agreement, inked after a high-level meeting between Azerbaijan's Minister of Energy and his Saudi counterpart in the event’s Blue Zone, aims to enhance cooperation on integrating renewable energy into Azerbaijan’s power grid.
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