Shareholders of Bank VTB (Azerbaijan) will elect new members of the Supervisory Board on April 29.
According to the bank's press service, the only question on the agenda of the extraordinary meeting of shareholders of the bank is the Supervisory Board. Today it consists of six people, which has been led by Vasily Titov since 2013.
Bank VTB (Azerbaijan) operates since 2009. Its shareholders consist of JSC Bank VTB (Russia) - 51%, Ltd. Ata Holding – 48.99% and Ashraf Kamilov – 0.01%.
It should be noted that the State Oil Fund of Azerbaijan is a shareholder of JSC Bank VTB (Russia). The Fund owns 381 913 414 634 shares with the nominal value of the holding of 0.01 ruble each. This represents 1.11% of its share capital. SOFAZ Executive Director Shahmar Movsumov is a member of the Supervisory Board of Bank VTB (Russia). 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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