
Training workshop on corporate governance without the participation of corporations
Baku/23.12.13/Turan : Baku Business Training Centre ( BBTC ) held on December 20, training for young entrepreneurs and managers of one of the themes of which is corporate governance . However, as found Turan, the training is not attended by a representative any nonbank public company .
Director of BBTC Akif Farrukh told Turan that during the training representative of the Ministry of Economy and Industry said portions of the action in January 2011, " Azerbaijani standards of corporate governance" , principles and practices of corporate governance, shareholder rights , corporate relationships in companies, etc.
The training was attended by representatives of JSC National Depository Center, JSC Ekol Muhendislik Khidmetleri, JSC Qafqaz Inkisaf Banki, LLC Azercell Telecom, Cybernet, AzFP Co., Ramsoy and other companies.
In Azerbaijan, there are not less than 1,600 JSCs created and privatized in 1997-2013. Their management is regulated mainly by the Civil Code . The Code reflects the minimum requirements for compliance with corporate governance requirements . In January 2011 the Ministry of Economic Development approved the "Azerbaijani standards of corporate governance ", which are voluntary for use . Practice shows that the joint stock companies are still far away not only from the Corporate Governance Standards Organization for Economic Cooperation and Development (OECD), but milder national standards. 08B
Economics
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review