Once again, the capital of OOO "Pasha Development" has been increased by five million mantas, and totaled 220. 273.900 manat. The company is by 100% owned by the group of companies "Pasha Holding". Holding announces that it "is engages in the acquisition, development and management of real estate." However, some of the property in question - is not specified. The company does not have a corporate website.
The asset management is busy, another holding company - LLC "Pasha Construction", where the share of LLC "Pasha Holding" is 60%. However, in the state register of commercial legal persons, contrary to the law on "State Registration and State Register of Legal Entities" there is not any information about this company. Ltd. "Pasha Development" was established in June 2012. The initial capital of the company amounted to 16 million manats.
"Pasha Holding" belongs to sisters Leyla and Arzu Aliyevas, daughters of the President Ilham Aliyev. The state registry of commercial legal entities does not contain information about this company. 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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