JSC «Topaz Investments» (the main shareholder of Nikoil Bank) enrolled in the deposit accounts of the second tranche in the amount of $ 10 million (the first took place on July 29.) According to the financial structure, before the end of September will be carried out two similar transferences in order to enhance all areas of lending. In addition, the major shareholder intends to announce the issuance of securities, strengthening its own presence. JSC «Nikoil Bank» has been operating in Azerbaijan since 1994. The bank's branch network includes 21 sales points, which are located both in Baku and in the regions of the country. Information about all banking products, promotions and special offers can be obtained by visiting the company's website www.nikoil.az, or by calling the short number (012) 981. The structure of the three shareholders: JSC «Topaz Investments» owns a controlling stake (56.4%) from ZAO «NİKOYL» 42.6%, from the previous majority shareholder «ISR Holding» Ltd. remains only 1% of the securities. --17D-
Economics
-
The Azerbaijan Caspian Shipping Company (ASCO) announced the commissioning of its newly built vessel, "Bergyushadchay", on November 28. Constructed at the Zykh Ship Repair and Construction Yard, the vessel is now part of ASCO's Caspian Sea Oil Fleet as an auxiliary ship, according to the company's statement.
-
Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
-
The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
-
At today’s session of the Milli Majlis, Azerbaijan’s parliamentarians discussed and approved in the first reading a draft law increasing the minimum subsistence level for 2025. The updated figures reflect a modest rise of 10 manats, setting the nationwide living wage at 285 manats. For specific demographics, the levels are 305 manats for the working population, 232 manats for pensioners, and 246 manats for children. The same session also approved the criterion of need at 285 manats for the coming year, aligning it with the national living wage.
Leave a review