The authorized capital of LLC Pasha Development and LLC Absheron Hotel Group increased by 5 million manats.
According to the State Register of Commercial Legal Entities, after increasing by 5 million AZN, the capital of LLC Pasha Development reached 291,273,900 manats. Initially (June 2012), 16 million AZN was invested in the capital of the company.
The capital of Ltd. Absheron Hotel Group has reached 36.5 million manats.
In both companies LLC Pasha Holding has a 100% stake. As a rule, Ltd. Pasha Holding does not disclose information about the source of the capital of its subsidiaries.
At the same time, it should be noted that the holding company periodically reviews its capital companies, which is not true of other known holding groups.
Ltd. Pasha Development is engaged in the acquisition and management of real estate both in Azerbaijan and abroad. The list of this property has not been disclosed.
Ltd. Absheron Hotel Group controls the real estate portfolio, consisting of the following hotels: Park Chalet, Pik Palace Shahdag, Boulevard Hotel Baku, Intourist, Dinamo Hotel Baku and Shamakhi Palace Sharadil. ----08B
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review