Azmont Investments Company increased its registered capital from 66 million to 105 million Euros or 59%. It is reported by the Central Register of Legal Persons of Montenegro.
Raising the capital of the company involved in the construction of a resort complex called Portnovi (http://azmont.com/) was reported on March 24.
Azmont Investments was established in July 2012 in Montenegro by one of the subsidiaries of SOCAR (SAIPH HOLDING B.V. HOLANDIJA). In 2015, 99% of the company Azmont passed into the ownership of JSC Azerbaijan Global Investments (AGI, now transformed into Ltd.).
The founders of AGI (founded in 2013) are Ata Holding (33%), Pasha Development (35%) and Synergy Group (32%).
In November 2015 the company Azmont Investments appealed to the Central Bank of Montenegro with a request for a full banking license. The media of the country note that the appeal has been granted. --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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