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Enter Main - TURAN.AZ AZ ... RU

Economical news
Bulletine Economics 

2017 August 25 ( Friday )  17:18:34
Print version
Русский Azərbaycan


Turan News Agencys Statement

In connection with the detention of the Director of our Agency Mehman Aliyev and the initiation of a criminal case on charges of tax evasion, our Agency"s bank accounts have been blocked.

In such a situation, the Agency"s normal functioning becomes extremely difficult.

Given the current situation, the team of Turan News Agency is forced to suspend its work for an indefinite period from September 1.

In the near future, we will try to support the work of our website at the expense of our own resources and enthusiasm. The news will be limited.

Time will tell how long this will be enough.

Thanks to all those who have decided to support Mehman Aliyev and us in this difficult moment.

Turan News Agency team

Shahdag Tourist Complex to Pay AZN 298,800 to Support IT

Baku / 25.08.17 / Turan: Shahdag Turizm Merkezi CJSC (Shahdag Tourist Complex) signed a contract with Smart Solutions LLC (TIN 1400977131) for providing maintenance services for information technologies in the amount of AZN 298,800.

The CJSC was established in 2015 and is the state operator of the Shahdag ski resort, which cost the state budget about 1 billion US dollars. This year it first published a financial report, according to which, with an income of 17 million 589.2 thousand manats there were losses of 4 million 336.7 thousand manats.

In July of this year, Shahdag Turizm Merkezi CJSC signed three contracts for the purchase of household materials and kitchen equipment for a total of 341,800 manats. The contractors are Eco Clean Group and Hotel Services Azerbaijan.

This year, on a competitive basis, also purchased was furniture (LLC Turkish Decor 2010, 22,460 manats), sports equipment and personal protective equipment (an individual Amrah Verdiyev, 34,448 manats), household goods (LLC Khazine-1, 43,874 manats), goods for the organization of Novruz Holiday (A + A Group, 27,411 manats), goods for disinfection works (Prof Dez GM LLC, 48,474 manats), goods for consulting services (Q2B Group LLC, 42,300 manats), etc.

Shahdag Turizm Merkezi CJSC has two hotels (Shahdag and Zirve). Several private hotels have been built on the territory of the resort complex. How much they pay the JSC for this is not reported. -----08B

External state Debt Per Capita in Azerbaijan AZN 1,232.1

Baku / 25.08.17 / Turan: As of July 1 this year, the external state debt of Azerbaijan was $ 7 billion 172.6 million or AZN 12 billion 208.5 million, the Ministry of Finance informed, without disclosing details, which contradicts the Law of Azerbaijan on State Debt.

In the first half of the year, according to the Ministry of Finance, the amount of state debt increased by $ 259.4 million or 3.7%.

According to Article 16.3 of the Law on State Debt, the Ministry of Finance should disclose the size and composition of the state debt by placing it on the global network. This message is included in the quarterly report of the Ministry of Finance on the execution of the state budget and is published in the media. The Ministry has stopped publishing such reports since 2011.

More detailed information on the external state debt as of July 1 was provided by the Accounts Chamber. According to it, for the first six months of this year, the volume of external borrowing at the beginning of July was $ 11.2 billion. The total amount of concluded loan agreements for the first six months increased by $ 285.4 million or 2.6%. The amount of external debt for the period increased by $ 193.5 million or 2.8%.

Thus, in the information of the Ministry of Finance and the Accounts Chamber on the amount of growth of the external state debt there is a deviation of $ 65.9 million.

The external state debt per capita as of 1 July 2017 amounted to 1,232 manats 10 gepiks. The subsistence minimum per capita for 2017 is approved at the level of 136 manats.

The state budget for 2017 provides service of the state debt, which amounts to 1 billion 580 million manats. In June of this year, the Azerbaijani Parliament introduced a change in the limit of the state debt in connection with the acceptance of the external debt of OJSC International Bank of Azerbaijan, totaling $ 2 billion 383.4 million, by the state. ---08D

Central Bank Plans to Attract 100 Million Manats at Deposit Auction

Baku / 25.08.17 / Turan: At the deposit auction on August 28, the Central Bank of Azerbaijan plans to raise 100 million manats. The funds will be attracted for a period of 14 days, at an average weighted rate of 10.01% -14.99%.

Deposit auctions are held as part of anti-inflation measures. The Central Bank started auctions in June 2016. -----71D

Number of Employees of VTB Azerbaijan Decreased by 101 in H1 of 2017

Baku / 25.08.17 / Turan: In the first half of 2017, the number of employees of VTB Azerbaijan decreased from 387 to 286 people, the Bank said in a statement.

During the reporting period, the Bank closed four of its branches - Azadlig, Sumgait, Sahil and Gandja.

In the first half of the year, the Bank"s assets as compared to the beginning of the year amounted to 404.986 million manats (a reduction of 30.577 million manats or 7%), the liabilities were 366.455 million manats (a decrease of 32.976 million manats or 8.2%), and the capital was 38.530 million manat (an increase of 2.399 million manats or 6.6%).

During the reporting period, the Bank showed a profit of 3,091 million manats. -------71D

Extraordinary Shareholders Meeting of VTB Bank to Be Held

Baku.25.08.17 / Turan: An extraordinary meeting of shareholders of VTB Bank (Azerbaijan) OJSC will be held on September 21, the Bank said.

However the message does not disclose the agenda of the meeting.

51% of the Bank"s shares belong to JSC VTB Bank, 48.99% - to the Ata Holding group of companies, and 0.01% - to an individual. -------71D

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