Cabinet of Ministers has allocated for the Azerbaijan State Caspian Shipping Company ("Kaspar"), $ 2, 25 million for the purchase of the tugboat. Thus, the number of ships in the fleet of the shipping company reached 85 years.
The funds allocated for the purchase of the tugboat are fro savings on the purchase of two ferries. This year, through a "Caspar" was granted from the state budget 25.5 million manat.
Over the first nine months of this year the Company’s profit from freight traffic totaled nine million manat. Income from operations amounted to 85.6 million manat (10.6%), and the cost of organizing traffic - 76.6 million manat. (+6.6%)
In 2011, investments into fixed assets in "Caspar" amounted to 83.5 million manat. By the beginning of the year Company had 80 vessels with deadweight of 500 thousand tons. Over the past nine years Company purchased abroad 10 tankers, six ferries and one freighter. For the beginning of December 2012, there are 84 trade ships, including 43 tankers, 13 ferries, and 25 dry cargo carriers.
The staff of "Caspar" is about 9.5 thousand people, who earn an average of about 600 manats a month. - 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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