The charter and structure of JSC Tourist Center Shahdag (abbreviated in the documents as Shahdag TM) under the Ministry of Culture and Tourism has been approved.
According to the decision of the Cabinet of Ministers of Azerbaijan № 391 dated December 18, published the day before, for the company's financial stability there have been produced 377,774 shares with par value of a little more than 100 manat each. This ensures the authorized capital at 37,777,427.56 manat.
The JSC can not only host tourists, but also complete the construction of a tourist complex.
The Board includes 3 people. The government authorizes the operation of the JSC amounting to more than 25% of the net assets. - 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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