Uzbek banking sector COVID-19
In light of the spread of coronavirus infection Covid-19 and in addition to quarantine regime, Uzbekistan has undertaken a number of other measures aimed at mitigating risks and maintaining the normal functioning of business activities, including the banking sector.
Benefits and exemptions for businesses in quarantine conditions
In connection with the epidemiological situation in the world and the spread of coronavirus in Uzbekistan, there have been taken strict quarantine measures of the population. In order to minimize the negative consequences of the pandemic and global crisis on the Uzbek economy, the Government of Uzbekistan is taking measures to support entrepreneurship, export and financial stability.
Limitations set in order to prevent spread of coronavirus infection affect all business processes, including employer-employees labour relations. In accordance with the resolution of the Republican Commission all entities in Tashkent, regardless the form of ownership, must ensure that the staff members shall either take annual leave in a manner provided by Uzbek law or work remotely.
In connection with the pandemic triggered by the spread of the COVID-19 virus (coronavirus) in the world and for mitigation of the negative impact on the economy, the Government of the Republic of Uzbekistan adopted a number of decisions for introducing a force majeure mode for business in the country.
Nobel Brothers' history in Azerbaijan
The first foreign company in Baku was founded by the Nobel brothers - Alfred, Ludvig and Robert. Few people know about the deep connection of the Nobel Prizes with Baku’s oil. 12 percent of the prize was said to be from Alfred's shares in the Nobel Brothers' Petroleum Company in Baku.
On 31 March 2020, the Eurasian Economic College adopted an additional decision aimed at establishing a temporary export ban of food products from the countries of the Eurasian Economic Union