LLC Azfinance Invest that declared itself a new player in the securities market in Azerbaijan in April 2014 has increased the registered capital to 1 million manat. This is the highest paid-in capital among the 14 brokerage firms available.
Ltd. Azfinance Invest was registered on 30 January 2014 under a different name - Gilan Capital. The authorized capital of the company was announced at 1,000 manat. In April, the company received licenses to carry out broker and dealer activities from the State Committee for Securities.
It is noteworthy that the company is still not involved in the securities market. At least it has not been included in the ranking of brokers with stock exchange securities transactions.
Note that according to the requirements of the State Securities Committee for the capital adequacy of brokerage companies, their aggregate capital must not be less than 100 000 manat. ----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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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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