RSM Azerbaijan has joined the Listing Consultancy Program (LCP) of Baku Stock Exchange.
Today, RSM Azerbaijan has signed the Collective Agreement on Cooperation within the framework of the information and consultation program to encourage the financing of the economy through the capital market.
According to the cooperation agreement, RSM Azerbaijan LLC will send LCP the companies available in its portfolio, which could attract finance and capital on the stock exchange platform.
At present, 12 companies cooperate in LCP: Azerbaijan offices of audit companies KPMG, Baker & Tilly, PwC and EY, legal companies Dentons and Baker & McKenzie, as well as local investment companies Pasha Capital, Invest-AZ, AzFinance Invest and Uni Capital. A participant of the program is also High Technology Park.
So far, LCP has not had much success in the capital market in Azerbaijan. -----08BD--
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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