Last week review (August 19-23)

August 19

Employees of SOCAR's oil refinery to be involved in maintenance of new processing complex in Azerbaijan

The employees of the Heydar Aliyev Baku Oil Refinery will be actively involved in the process of maintenance of a new complex for oil and gas processing and production of oil and chemical goods, which the State Oil Company of Azerbaijan Republic (SOCAR) intends to build in Azerbaijan, SOCAR head Rovnag Abdullayev said on Monday at a meeting dedicated to 60th anniversary of the refinery. "Currently works are being carried out on project of the new complex, and I am sure that the specialists who work at the refinery, will be able to properly participate in the work and development of the new complex," Abdullayev said.

August 21

Minister: There is great potential for cooperation between Azerbaijan and Hungary in agrarian sphere

Azerbaijani Minister of Agriculture Ismet Abbasov will attend a profile exhibition which will take place in Hungarian city of Kaposvar from August 30 to September 1, 2013, Abbasov said during the meeting with Hungarian ambassador to Azerbaijan Zsolt Csutora on Wednesday. According to Abbasov, relations between Azerbaijan and Hungary, including the sphere of agriculture, develop successfully and dynamically. The minister also noted a great potential for development of bilateral cooperation in agrarian sphere and importance of direct contacts between relevant structures of the two countries for implementation of this potential.

August 22

Central Bank of Azerbaijan plans to ease reserve requirements to banks

The Central Bank of Azerbaijan (CBA) plans to ease reserve requirements to the country's banks, CBA said on Thursday. These changes are envisaged in the CBA's drafted project for new rules of asset classification and creation of reserves for the coverage of possible losses. According to the rules, assets fall into two groups: standard and non-standard. Standard assets group includes satisfactory and controlled assets and the non-standard assets group includes unsatisfactory, dangerous and unreliable assets.

August 23

Citizens of Azerbaijan's regions ask tax preferences

Azerbaijan's Minister of Taxes Fazil Mammadov received over 70 citizens of the districts of Shirvan, Hajigabul, Salyan, Neftchala, Sabirabad, Saatli, Goychay, Kurdamir and Ujar in the city of Shirvan, the Tax Ministry's report said. The citizens of these districts addressed the minister with the issues related to measures on stimulating the decrease of taxes in different spheres of the economy, employment in the tax bodies, tax administration, decrease of tax debts, installation of POS-terminals, implementation of control cash machines, preferential lending for small business and others.

Turkey hopes for achieving success in Karabakh conflict settlement together with Russia - Erdogan
Turkey hopes for achieving success in Karabakh conflict settlement together with Russia - Erdogan
Servicemen of Armenia refused to get engaged in battles and left their positions - Azerbaijani MoD
Servicemen of Armenia refused to get engaged in battles and left their positions - Azerbaijani MoD
Armenia discloses number of servicemen killed by Azerbaijani army
Armenia discloses number of servicemen killed by Azerbaijani army
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