Tomorrow the State Securities Committee (SSC) will organize in Lankaran a video conference with the heads of some 100 joint-stock companies, located in the southern parts of the country.
The press service of the State Committee for Securities told Turan, the event aims to improve corporate governance and accountability in joint stock companies. This is the first action of the sort by SCS, using information technology in the relationship with the companies.
Heads of the departments of Baku SSC answer your questions representatives of JSC.
The level of corporate governance and accountability in the Azerbaijani joint-stock companies is very low. General meeting of shareholders shall be held on a regular basis, the Supervisory Board has a formal character, shareholder rights are violated, and the annual and financial reports are not published. - 08D-
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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