BMW's net profit exceeded €18 bn in 2022

By the end of 2022, the BMW carmaker received €18.58 bn in net profit

30% of all women entrepreneurs recorded in Baku

Napkins to be produced in Nakhchivan

A napkin production site has been created in Nakhchivan at Ləzzət Qida Sənaye LLC.

A company with authorized capital of $11 million established

On December 30, 2022, the State Tax Service carried out state registration of Gəmiqaya Avtonəqliyat LLC

Bloomberg: Elon Musk once again the richest man on planet

Elon Musk, who heads Tesla and SpaceX and owns Twitter, once again topped the ranking of the richest people on the planet.

Ex-head of customs committee becomes head of the company

Azad Rahimov's son founded a mine clearing company

The son of Azad Rahimov, the ex-minister of youth & sports of Azerbaijan, works in a mine clearance company in the liberated territories.

652 new jobs to be created due to subsidized loans for entrepreneurs

In 2022, subsidized loans for AZN 3.9 million were given to 218 women entrepreneurs and for AZN 14 million to 91 young entrepreneurs. Creation of 334 and 318 new jobs, respectively, is planned due to the funded projects.

A new leasing company established in Baku

Atlas Lizinq LLC is registered in Baku.

Bill Gates bought Heineken shares for $900 million

Bill Gates bought a minority stake in Heineken Holding, which is the controlling shareholder (owns 50%) of Heineken N.V. - the second largest brewing company in the world.

68.6% of EDF loans granted to agricultural sector in 2022

A significant proportion of the financial support allocated by the Entrepreneurship Development Fund in 2022 was directed to the agricultural and industrial sectors.

Gəmiqaya Avtonəqliyyat to be reorganized

Gəmiqaya Avtonəqliyyat LLC will be reorganized.

Azerbaijan-Russia JV increases authorized capital

Hayat Farm LLC, created jointly by Azerbaijan and Russia, increases the authorized capital.

Hotels Group reduces authorized capital by AZN 10 million

Meta prepares the next job cuts

American company Meta is preparing for a new round of job cuts as part of business reorganization

Philip Morris intends to keep business in Russia

American tobacco company Philip Morris International (PMI) will prefer to keep its business in Russia rather than sell it on unfavorable terms for shareholders.

Toyota to carry out the most salary increases in 20 years

The Toyota carmaker intends to fully agree with the demands of local trade unions and make the biggest salary increase for its employees in the last 20 years.

Nestle to raise prices for its products

Nestle CEO Mark Schneider said that basic food products will also become more expensive this year.

Deripaska's assets worth over $273.5 million seized in Ukraine

The Supreme Anti-Corruption Court of Ukraine has satisfied the claim of the Ministry of Justice of the country on the transfer to state ownership of the assets of Russian businessman Oleg Deripaska totaling more than $273.5 million.

KPMG to cut nearly 700 jobs in the U.S.

KPMG, one of the largest international audit companies, intends to lay off about 700 employees in the U.S. amid a sharp decline in demand for consulting services because of economic problems in the country.

Twitter has allowed to advertise marijuana

The administration of the social network Twitter, owned by Elon Musk, has made changes to its policy that allow American companies to advertise narcotic substances, namely cannabis (marijuana)