The general meeting of JSC Bank BTB dismissed Jeyhun Pashaly from the post of Chairman of the Supervisory Board and appointed Rza Sadig in his place.
Rza Sadig is a shareholder and owns 19% of the shares.
JSC Bank BTB was founded in 2010. The bank is monitored by Nigar Mehdiyeva (75%), the sister of Rza Sadig. At the beginning of October, the bank's assets amounted to 156 million manats, which is 14 million manats more than in the beginning of the year. Over three quarters the bank gained profits in the amount of 132.4 thousand manats.
The other day the issue of shares of the bank, amounting to 2 million mantas was registered. Thus, the capital of Bank BTB was brought to 52 million manats. -----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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