Baku is to open two new franchised restaurants - IL Patio and Planet Earth. Their founder is Rosinter. The local partner is the Russian giant in public catering business, LLC Mosaic Group, which already has control of two restaurants.
According to Director of Development of Franchising Business at Rosinter, Anastasia Orlova, during the presentation, the increased presence of this line is one of the priorities of the strategy of the holding. Another strategic focus is to open restaurants in the transport hubs - in airports and train stations.
Last year the total number of restaurants in the network Rosinter was 408 (including 28 coffee shops Costa Coffee). During the first quarter, the number of restaurants dropped to 395. During January-March, the company closed 13 restaurants, which had not reached the target level of profitability.
Franchising is an advanced form of licensing, in which one party (the franchisor) grants another party (the franchisee) the gratuitous right to act on its behalf, using the trademarks and / or brands of the franchisor. - 17D-
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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