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Enter Main - TURAN.AZ AZ ... RU

Economical news
Bulletine Economics 

2017 August 30 ( Wednesday )  16:30:07
Print version
Русский Azərbaycan


Individuals Sell Flats for Transfer to War Invalids and Martyr Families

Baku / 07/30/17 / Turan: The Ministry of Labor and Social Protection of Population announced the results of tenders for purchase of 143 apartments for invalids of Karabakh war and families of martyrs. A total of 9 million 712.9 thousand manats will be spent from the state budget for this purpose.

According to the Ministry of Economy, which discloses data on competitive procurement, 21 out of 23 contractors are individuals. This year, the Ministry of Labor also admitted those who sell their own apartments to the tender. Two companies (LLC SA-Insaatci and Saray-H) concluded contracts for a total of 3 million 182.7 thousand manats. But Rasim Gachayev (TIN 18025141921802514192) got the most money - 4 million 527.5 thousand manats. Gachayev is also the executive director of the housing construction cooperative Derhal (TIN 1500334701). This cooperative is known as a construction company that sells some of the built apartments to servicemen, employees of law enforcement agencies and internally displaced persons at the expense of the state budget, the Bizim Yol newspaper reports (

The apartments will be distributed among the previously selected persons in Baku (109 apartments), Sumgait (15), Gandja (13) and Mingachevir (6).

In 2016 this method provided apartments for 118 disabled of the Karabakh war and martyr families. Earlier, the Ministry of Labor and Social Protection held tenders for the construction of multi-apartment buildings and individual houses. -----08B

Two Companies Related to Well-Known Holding Eliminated

Baku / 30.08.17 / Turan: The liquidation of two companies more or less related to Azersun Holding LLC, an influential holding in Azerbaijan, has been announced today. The report is published in the official newspaper of the Ministry of Taxes.

The liquidated companies are LLC Mugan Energy and LLC Azersun Akademiyasi. The first company was established by the parent company of the holding in 2011 and was a producer of electricity at a hydroelectric power station. However, nothing is known about its activities. The founder of the second company (LLC Azersun Akademiyasi) is Elchin Adil Oglu Mammadov. But the legal address of this company is also the head office of Azersun Holding LLC at 92A Heydar Aliyev Avenue.

The holding"s press service told Turan News Agency that the second LLC, despite the identity of the names, is not the Azersun Academy operating since 2005. The given educational center is engaged in increase of professionalism (technical, trading, marketing and other spheres) and personal development of the holding"s employees.

Azersun Holding LLC is one of the main participants in the market of consumer goods. The company belongs to the Intersun International Sun Group FZCO. The group includes more than 20 companies. ------08B

International Bank of Azerbaijan Summed up Four More Tenders

Baku / 30.08.17 / Turan: The International Bank of Azerbaijan has signed a contract with four more entrepreneurs on the basis of competitive bidding. The total amount of these contracts is 245,500 manats.

LLC Ultra Technologies has become the supplier of computers for the bank. The number of purchased computers for a total amount of over 78 thousand manats is not reported

Je Informasiya Sistemleri LLC for over 100 thousand manat will integrate the program modules of IBA and IBM DB databases from the IBM AS/400 platform to the Microsoft Windows Server platform. Nothing is known about the company established in 2008.

A company with Turkish capital, Hazar Endüstri Danışmanlık Dış Ticaret Limited Şirketi, has sold IBA household goods for a total of 35,000 manats. It has the appropriate certificates obtained in the certification company Azsertcenter.

The expenses of IBA for filling the printers of its central office and branches with cartridges were estimated at 40,750 manats. The supplier is an individual Afgan Budagov, of whom also nothing is known as an entrepreneur.

Prior to this, IBA concluded a contract with CJSC Scientific and Production Company R.I.S.K. to purchase Oracle Database and RAC licenses (software for clustering and increasing availability for Oracle Database) for the amount of 325 thousand manats.

IBA in violation of the law hides its annual and semi-annual financial reports from the public. Therefore, it is not yet known how the process of its recovery, which began in July 2015, is going on. ----08D

Khalg Bank Raises Capital

Baku / 30.08.17 / Turan: OJSC Khalg Bank raises its authorized capital by 13 million 432 thousand manats. The implementation of this decision is not known.

The bank's capital is raised at the expense of profit of 2016 (10 million 152 thousand manats) and part of the profit for previous years. A total of 13 million 432 thousand manats has been directed to raise the capital. The decision to raise the authorized capital was made on May 1 this year. This became known from the August 29 report published by OJSC Khalg Bank in

Capital increase is made by changing the nominal value of the bank's shares from 58.30 manats to 62 manats. Before that, the authorized capital of the bank was 211.6 million manat.

As of July 1, 2017, the assets of OJSC Khalg Bank were 1 billion 845 million manat or about $ 1.1 billion. The bank's shares are distributed among three companies: Euro Standard (33.85%), Ideal Business Co (50%) and Amal Invest Group (16.15%). The bank belongs to Leyla Aliyeva, the daughter of President Ilham Aliyev ( -----08B-----

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