Seventh package of EU sanctions against Russia to come into force on July 21

The next package of EU sanctions against Russia will become effective on July 21, the Czech Permanent Representation in the EU Council tweeted on Wednesday, APA reports citing TASS.

“This package will be approved by the EU Council within the framework of the written procedure that will end tomorrow at 10:00 am [11:00 am Moscow time – TASS]. Sanctions will come into force tomorrow after the publication in the EU official journal,” the Permanent Representation said.

According to European sources and mass media reports, the seventh package of sanctions comprises the ban on gold purchases from Russia in the form of semi-finished products and scrap. Certain categories will be added to the list of dual-use goods and technologies.

Source: Azeri-Press News Agency

Azerbaijani to pin hopes on six athletes at EYOF Banska Bystrica 2022

Azerbaijani athletes will contest medals at the 16th Summer European Youth Olympic Festival (EYOF) to be held in Banska Bystrica, Slovakia on July 24-30.

Azerbaijan`s hopes will be pinned on Said Mammadov (400 m), Huseyn Abbasov (long jump) and Novruz Asadli (100 – 200 m), and female athletes Sakina Hajizada (shot put), Veronika Antropova (long jump) and Ilaha Guliyeva (200-400 m).

The multi-sport event that is aimed at athletes aged 14-17 years, will bring together about 4000 athletes from 50 countries, competing in 10 sports – athletics, badminton, basketball, cycling, judo, handball, swimming, gymnastics, tennis and volleyball.

Azerbaijan will join the competition across seven sports.

Source: Azerbaijan State News Agency

Abe state funeral being eyed for September 27

The Japanese government is finalizing arrangements to hold a state funeral for former Prime Minister Abe Shinzo on September 27 at Nippon Budokan in Tokyo, according to NHK World-Japan.

Abe was fatally shot in Nara City, western Japan, on July 8 while making a campaign speech for a candidate in the Upper House election.

Prime Minister Kishida Fumio had announced earlier that the government would hold a state funeral for Abe in the autumn.

Kishida cited Abe’s achievements in domestic politics and diplomacy as reasons for holding a state-sponsored funeral.

Details of the ceremony will be decided taking into account the wishes of Abe’s family and diplomatic itineraries.

The government will consult with the ruling parties before seeking Cabinet approval for the funeral.

Abe will be Japan’s second former prime minister to be given a state funeral since the end of World War Two. The first was for Yoshida Shigeru, who died in 1967.

Some opposition lawmakers have said they are against holding a state funeral for Abe and have concerns about doing so.

The government says it will further explain to the public why it believes Abe should be mourned in such a manner.

Source: Azerbaijan State News Agency

Entrepreneurs in Karabakh may receive tax benefits

Some details of the Draft Law on Amendments to the Tax Code developed within the framework of budgetary and tax policy in Azerbaijan for the next year became known.

The information was provided by Nijat Imanov, head of the main tax policy department of the State Tax Service of the Ministry of Economy, during his meeting with the Public Council members under the Ministry.

According to him, one of the main directions of amendments is the improvement of investment climate as well as the reduction of tax burden to stimulate domestic production. With that end in view, the provision of tax incentives to taxpayers operating in the territories liberated from the occupation, as well as in the field of agricultural processing is envisaged.

In the package of amendments, the participants were also informed about such directions as reducing the tax burden on the population through social benefits, maintaining the country’s position in international rankings, as well as changing a number of administrative provisions.

Source: Turan News Agency

Central Bank of Azerbaijan approves innovative option for compulsory motor insurance

BAKU, Azerbaijan, The Central Bank of Azerbaijan (CBA) has approved an innovation on compulsory motor insurance, Trend reports citing a source in the country’s insurance market.

CBA Governor Taleh Kazimov approved the “Regulating payments between insurers regarding compensation for damage to a motor vehicle driven by a car accident victim.”

According to the new regulation, the damage to a compulsorily insured motor vehicle will no longer be compensated by the opposite party, but by the insurance company from November 1, 2022.

Source: TREND News Agency

Georgia’s foreign trade turnover increases in 1H2022

BAKU, Azerbaijan, The total value of Georgia’s foreign trade turnover increased significantly from January through June 2022, Trend reports via National Statistics Office (Geostat).

Georgia’s foreign trade turnover (excluding non-declared trade) from January through June 2022 amounted to $8.4 billion, which is an increase of 35.4 percent compared to the corresponding period of 2021 $6.2 billion.

Georgia in the reporting period exported goods worth $2.5 billion, which is an increase of 38.8 percent, compared to $1.8 billion over the same period of 2021.

Meanwhile, the total amount of imported goods to Georgia amounted to $5.9 billion in the reporting period of 2022, which is an increase of 37.2 percent, compared to the similar period of 2021 ($4.3 billion).

Source: TREND News Agency