Deposit Insurance Fund appealed to the depositors of the closed "of Texnikabank" and "Gencebank". According to Turan, the Fund asked the owners of insured deposits of «Texnikabank» which have not apply for compensation, to make an appeal to the fund up till 12 February, 2017.
In a message to the owners of insured deposits in "Gencebank" the Fund noted that they should refer to till February 4, 2017. This Fund noted that in any case the right to receive compensation from investors remains for five years, after the announcement of the issuance of compensation.
On January 19 the investors "of Texnikabank" were issued 120.364. manats (98.1% of total deposits in the bank), and depositors “Gencebank” were issued 976.000 AZN compensation (94%). 71D
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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