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
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The State Oil Company of Azerbaijan (SOCAR) and Italy's Eni S.p.A. have signed a Memorandum of Understanding (MoU) focused on energy transition. Azerbaijani Economy Minister Mikail Jabbarov announced the agreement on his account on the social network "X".
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Azerbaijani Economy Minister Mikail Jabbarov met on July 29 with Ali Kibar, Chairman of Turkish conglomerate Kibar Holding, to discuss strengthening bilateral cooperation, boosting investment in industrial production, and supporting partnerships in the energy sector.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved the application form specified in Article 30.1 of the Competition Code. This decision aims to align with the President’s decree No. 1051-VIQ dated December 2, 2023, and address regulatory requirements related to the implementation of the Competition Code.
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Azerbaijani President Ilham Aliyev has issued a decree amending the Land Code of the Republic of Azerbaijan, effective January 2025. The legislative adjustments aim to refine the management and use of agricultural land and enhance regulatory processes.
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