On the occasion of September 20 - the Day of Azerbaijani Oil - the Bank of Baku begins allocation of concession loans to employees of the oil industry of Azerbaijan.
As reported in the bank, in the period from September 20 to October 15, employees of the oil sector in Azerbaijan can enjoy 2% discount on the annual interest rates of consumer and cash loans (excluding auto and mortgage loans, loans for deposits and VIP). The maximum loan amount is 5,000 manat. The loan term is 30 months.
In addition to the 2% discount, customers without delays in the payment of arrears, receive a bonus of 50 manat in the campaign "Interest back." The gains are transferred to the card Dostlar Klubu (Club of Friends), which is already available to the client, or the same will be handed to him. The bonus amount will be used in the case of registration of a new money loan. -15D -
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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