JSC Industrial-Construction Investment Corporation Accord continues the process of functional fragmentation into separate companies, which started in 2014. An independent company this time is the Department of construction of bridges and tunnels.
According to the Ministry of Taxes, state registration was passed by Korpu Tunnel Tikinti Company. Director of the Company is the former head of the Department of Construction of bridges and tunnels Aslan Ismayilov.
The authorized capital of LLC Korpu Tunnel Tikinti is set at 10.6 million manats. The share capital of the corporation amounts to 74.1 million manats.
The corporation Accord includes several dozen companies in Azerbaijan and abroad. The corporation is controlled by the Ashraf Kamilov via LLC VIP Estate. -----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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