The head office of the group of companies Azersun Holding at 94 Avenue Heydar Aliyev has become a place of registration of three new companies that will operate in the country.
According to the Ministry of Taxes, they established Gusar-Agro, Gusar-Istikhana and Gozel Tebiet. The companies’ share capital has been invested 10,000 manat each. The companies’ names suggest that they will act in the field of agricultural production.
Note that the group of companies Azersun Holding has been doing business in Azerbaijan since 1991, and today it is the leader in terms of deliveries to the food market. The ventures of the company for agricultural and food production, packaging and paper industry, retail and distribution are spread across the country. According to the published financial report for 2013, its structure consists of 12 subsidiaries. ----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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