The Construction Investment Corporation Accord on January 26 established another new company, which will build hydroelectric installations.
The office of LLC Accord Hydro-technical Construction Company is located in one of the corporate headquarters - 59 Teymur Aliyev Street? Baku. In the construction sector Accord is most involved in capital construction of roads, water supply and sewage systems, residential buildings. The corporation in 2014 also started the construction of the underground tunnels.
It is possible that the new company has other co-founders, including foreign ones. Since the summer of 2012, information on the founders and their equity participation in commercial legal entities in Azerbaijan is considered confidential.
Accord Corporation was established in 2005 and has subsidiaries and representative offices in six countries controlling stake in 8 local joint stock companies and more than 20 companies in Azerbaijan and other countries. Control of the corporation is carried out by the company VIP Estate. ---08D
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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