The Ministry of Taxes registered LLC Accord Novanord Construction on May 27. Thus, the number of subsidiaries Licen Corporation Accord reached 28.
According to public data public registry of commercial legal entities, the new "daughter" Accord Corporation has a registered capital of 25 000 manats and located in one of its offices in Baku. The manager is a citizen of Turkey Salih Serdar Cakmak.
Accord was founded in 2004 and its shareholding was completed in December 2006. In 2011, in the structure of its shareholders a majority stake (51%) fell into the hands LLC VIP Real Estate. The remaining 49% is divided equally between two individuals. The corporation is managed by Ashraf Kamilov. General meeting of its shareholders is scheduled for next week.
Accord has offices in six countries. The corporation has set up branches and companies in five countries. The company owns many enterprises producing building materials in Azerbaijan. It is also an active participant in public infrastructure projects. - 08B -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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