The Cabinet of Ministers decided to approve the charter and structure of Azerishyg.
According to information on its website, the authorized capital of the company amounted to 623,533,532 manats (total 311,766,766 shares with par value of AZN 2 each). The Board consists of four people: the chairman, the first deputy and two deputies.
Azerishyg consists of 7 regional offices arranging supply and sale of electricity: Baku Regional Authority (the center of Baku), Northern Management (the center is in Sumgayit), Northwest (Gabala), West (Ganja), Lowland (Imishli), Central Lowland (Mingechevir) and South (Shirvan).
By the order of the President, Baku Electricity Network was transformed into JSC Azerishyg on February 10, 2015 (Turan reported on that). Its function is to buy electricity on the territory of Azerbaijan and to provide reliable, safe and efficient power supply to consumers. --17D-
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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