Azerbaijan records growth on number of newly-registered commercial organizations

Azerbaijan registered 3,877 commercial organizations in the 1st quarter of 2023 (25.1% more versus Q1 of 2022), ABC.AZ was informed at the State Tax Service (under the Ministry of Economy).

Entrepreneurs invited for Serbia-Azerbaijan Business Forum

The 7th meeting of the Serbian-Azerbaijani Intergovernmental Commission on Trade & Economic Cooperation will be held in Belgrade on 28 April.

Microsoft to pay almost $3 million for violation of sanctions

Microsoft Corporation has agreed to pay almost $3 million in connection with violation of sanctions, including against Russia.

A new leasing company enters the Azerbaijani market

The State Tax Service (under the Ministry of Economy) has carried out state registration of El-Leasing LLC.

Bernard Arnault becomes world’s richest man

Bernard Arnault, the president of group of companies LVMH (Louis Vuitton Moet Hennessy), has topped the ranking of the richest people on the planet in 2023, according to Forbes magazine.

Tesla to pay about $3.2 million to its employee

Tesla company is to pay $3.175 milion to a former employee.

Vagit Alekperov has earned $3.39 bn since early 2023

Since the beginning of 2023 the wealth of Russia's richest businessmen has increased by $13.17 bn

Changes in Gabala cannery reported

The new head of Pepsi Bottlers Azerbaijan (Mars Overseas Baku Ltd) of the Gabala canning factory has been appointed.

Company of Peskov's daughter dramatically increased revenue

Advertising agency Centrum Moscow, owned by Elizaveta Peskova, the daughter of Russian president’s press secretary, earned a record 137 million rubles in 2022.

Authorized capital of Sumgait Technological Park increased

Exports from Azerbaijan to this country grew 7-fold

Tax Service warns entrepreneurs in connection with tax returns

March 27 and March 31 are the deadline for submitting a number of tax returns.

India has sent 46 companies to Azerbaijan

We arrived in Azerbaijan with a delegation of about 60 representatives of 46 companies which want to strengthen relations with your country.

Gəmiqaya Holdinq announces reorganization

There was a separation from Gəmiqaya Holdinq LLC (INN-0201375131), associated with country's leading company Gəmiqaya Holdinq.

Monte Investments reduced authorized capital by 2 million times

Monte Investments LLC (TIN 1806042091) announced a reduction in the authorized capital from 12.34 million euro (22.8 million manats) to 10 manats.

Manufacture of watches in Gobu has begun — 1,000 watches are made every month

Orkhan Mammadov, the chairman of board of the Agency for the Development of Small & Medium-sized Businesses, and agency’s employees visited watch factory VMF Natural Frequencies located in Gobu settlement.

Pfizer buys pharmaceutical company for $43 bn

Pfizer Inc., the largest pharmaceutical company in the U.S., has reached an agreement on purchase of rival Seagen Inc., specializing in anti-cancer drugs, for $43 bn.

BP and KOBIA agree on realization of projects in Azerbaijan

The Small & Medium Business Development Agency and BP have today signed the Memorandum of Understanding on cooperation.

Reduced tax limit for simplified tax payers

This company’s authorized capital decreased to AZN 465,000

Sarı Makina LLC (TIN 1505560031) announces the reduction of the authorized capital from AZN 545,010 to AZN 465,010.

Rural guest houses start functioning in districts

Within the project "Development of entrepreneurship & self-employment in villages", 17 houses belonging to rural residents in Astara, Lerik and Lankaran districts began to function as rural guest houses.