Day: May 30, 2023

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$3 mln to be invested in stone quarry in Agdam region

Founders of "Shahbulag Mining" LLC contributed AZN 5.1 million to its equity capital in order to finance the project on development of the Shahbulag stone mine in the Agdam region. The It is worth recalling that the company was established in December 2022 with participation of private "Star Mining" Ltd. and state-owned "Azerbaijan Investment" company (AIC) https://www.aic.az/az/projects/1279/shahbulaq-mining. Note that the "Star Mining" Ltd. won the tender announced by the AIC immediately after the end of Karabakh War II. The results of the competition, as well as the establishment of joint venture "Shahbulag Mining" with authorized capital of AZN 10,000 were announced in January this year. The AIC reported that it would have no more than 30% stake. The companies' actual stake ratio was not disclosed. It was reported in January that geological studies are carried out to clarify reserves of building stone on Shahbulag field. There is no publicly available information about their results. A message on increase of Shahbulag Mining's capital (INN: 1308073801) up to AZN 5 million 172.400 (over $3 million) was placed in the State Register of Commercial Legal Entities. Added to this can be that "Star Mining" LLC http://www.starmining.az/ (TIN: 1003636361) was established in 2014. There is no public information on the owners of the company. The company participates in the development of "AzerGold"s state-owned gold mines in western Azerbaijan.

Source: Turan News Agency

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World oil prices show downward dynamics

World oil prices declined on Tuesday morning, and markets continue to closely monitor the situation around the US government's debt ceiling, Trend reports.

According to the latest updated data, the price of August futures for Brent crude oil fell by 0.66 percent, reaching $76.59 per barrel, while July futures for WTI fell by 0.47 percent, amounting to $72.33.

Negotiations on raising the US government's debt ceiling remain one of the key topics in the markets.

According to the White House, President Joe Biden is in daily contact with congressional leaders to discuss the upcoming vote on the agreement, which is designed to increase the national debt ceiling and avoid default.

Market strategist Jun Rong Yeap (Yeap Jun Rong) from the IG Asia Pte agency (Singapore), commented on the situation.

"Given the weakening of the risks of default on US debt, which seems to have already been taken into account by expectations in general, the question is what further events may cause a more stable price increase," the strategist said.

The expert also points out that the quotes are also restrained by weak economic expectations and a high level of oil production in Russia.

Source: TREND News Agency

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President of Israel Isaac Herzog arrives in Azerbaijan for official visit (PHOTO)

President of the State of Israel Isaac Herzog has arrived in the Republic of Azerbaijan for an official visit, Trend reports.

A guard of honor was lined up for the Israeli President at the Heydar Aliyev International Airport decorated with the national flags of the two countries.

Israeli President Isaac Herzog was welcomed by Azerbaijan`s First Deputy Prime Minister Yagub Eyyubov, Deputy Foreign Minister Fariz Rzayev and other officials.

Source: TREND News Agency

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President of Israel: I see Azerbaijan making a huge impact in the world and in the region

'And we share the vision whereby I see Azerbaijan making a huge impact in the world and in the region,' President of Israel Isaac Herzog said in a statement to the press with President of Azerbaijan Ilham Aliyev. 'You explained to me the impact of Azerbaijan in the energy sector in Europe, in the region as a whole, in Asia and of course, in the Middle East, which therefore connects to us. We looked at the entire global and regional security structure, which is endangered and threatened by Iran - clearly something, which we discussed in depth,' the Israeli President mentioned.

Source: Azerbaijan State News Agency

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From Hussein Ibrahim Taha, Secretary General of OIC

His Excellency Mr. Ilham Aliyev, President of the Republic of Azerbaijan Your Excellency Mr. President, On the occasion of the National Day of the Republic of Azerbaijan, I have the honor to extend to Your Excellency and to the people of Azerbaijan my heartfelt congratulations. I pray to Almighty Allah for the health and wellness of Your Excellency, and for further progress and prosperity for the people of Azerbaijan. The Organization of Islamic Cooperation (OIC) values its strong ties with the Republic of Azerbaijan, and commends its role in supporting the OIC and promoting joint Islamic action, an objective for which the OIC was established. The OIC will continue its efforts in serving its Member States, promoting their common values, and strengthening the bonds of mutual cooperation amongst them. I look forward to Your Excellency's support lo strengthen the solidarity among the peoples of our Member States, and opening up new horizons for joint Islamic action. Please accept, Your Excellency Mr. President, the assurances of my highest consideration and regards. Hussein Ibrahim Taha, OIC Secretary General

Source: Azerbaijan State News Agency

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Indian Embassy in Baku hosts series of events for International Day of Yoga

The Indian Embassy in Baku is organizing a series of yoga events in numerous Azerbaijani cities as part of the 2023 International Day of Yoga celebrations. These events aim to improve physical and mental health, promote unity and harmony, and further strengthen the cultural ties between India and Azerbaijan. The Indian Embassy is leading these yoga events across various picturesque locations in Azerbaijan. These include the Republican Velodrome, Baku Boulevard, Gobustan, Ateshgah, Shamakhi, Yanardag, Gabala, Shabran Wellbeing Resort, Icherisheher, and the Park of Heydar Aliyev Center. All are welcome to these events, both seasoned yoga enthusiasts and beginners. Participants will have the chance to partake in yoga sessions led by expert instructors from The Art of Living, Yoga Shahi Studio, and the Classical Yoga School. Each session will offer a mix of yoga poses, breathing exercises, and meditation techniques for a well-rounded and rejuvenating experience. June 21 was recognized globally as the International Day of Yoga starting from 2015, following a unanimous decision by the United Nations, a proposal that was initiated by India. The selected date is the longest day of the year in the Northern Hemisphere, a fact that carries unique significance in many cultures around the world. Yoga, an ancient practice with roots in Indian philosophy, provides a holistic approach to health and wellness. It is scientifically proven to improve flexibility, reduce stress, enhance mental clarity, and promote physical fitness. It's also known for its benefits in boosting immunity, improving focus, and fostering a sense of inner peace.

Source: Azerbaijan State News Agency

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Tender commission of Baku city police revealed collusion of bidders

The tender commission of Baku city police department has annulled a tender for cleaning facades and window panes. The formal reason is probability of collusion between bidders aimed at raising the cost of services. The electronic tender procedure https://etender.gov.az/main/competition/detail/285012 was held from 31 March to 3 May. The tender commission rendered its verdict a week later - on May 24. At the same time the winner of the electronic procurement was not announced on the single portal of public procurement. However, the Baku city police department also does not report on the participants of the collusion. The subject of the tender was periodic washing and cleaning of facades of stone and alkapone facing and glass with special chemicals in the administrative buildings of the Baku main police department, district police offices, subordinate departments and divisions with a total area of 110,000 m2. In the three previous competitions held during 2022-2020 for these services the same company - Emin v? Eynulla LLC (Tax ID number: 1800971911) won. In total, the company was paid 142.6 thousand manat during these years.

Source: Turan News Agency

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There are 66 state-owned properties outside Azerbaijan

There are 66 units of state property outside Azerbaijan with an estimated book value of AZN 372.5 million. It was reported by the Chamber of Accounts (CA) of Azerbaijan in the report on execution of the state budget for 2022. The Chamber of Accounts as well as the State Property Service, which holds these assets, do not provide information on the country's income from financial and economic activities of state enterprises located abroad. However, the dividends paid in 2022 by 90 joint stock companies established in the process of privatization and the shares of which are fully or partially owned by the state in Azerbaijan amounted to 255.300 manats, the SPS said. The state owns shares totaling AZN 83.6 million in nominal value in these 90 JSCs with a total authorized capital of AZN 110.6 million. Note that as of January 1 this year the SPS owns enterprises and objects of book value of AZN 29 million and a state share of AZN 8.9 million in 26 joint ventures. The Chamber notes that restrictions on privatization of the state share in 15 joint ventures valued at AZN 1.5 million are not defined.

Source: Turan News Agency

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Russia reports drone attack in Moscow (VIDEO)

A drone attack took place in Moscow on the morning of May 30, Mayor of Moscow Sergey Sobyanin said on his Telegram channel, Trend reports.

As a result of this attack, several buildings were slightly damaged.

Sobyanin also noted that all emergency services are at the scene of the incidents and no one is badly affected at the moment.

"For safety reasons, during the work of emergency services, measures were taken to evacuate residents of several entrances in two houses affected by the hit of UAVs. Immediately after the end of the work of special services, residents will be able to return to their apartments," the mayor added.

Source: TREND News Agency