President Ilham Aliyev appointed Vidadi Muradov Chairman of the Board of Azerkhalcha OJSC engaged in carpet weaving.
Muradov is 60 years old. Up to this appointment he served as Director of the private company Azeri Ilme LLC, which is also engaged in carpet weaving. In parallel, since 2006 he has been an advisor of the Affairs Department of the President of Azerbaijan.
In 1998-2002 Muradov worked as Deputy Director of the Research and Production Association Azerkhalcha, on the basis of which state-run Azerkhalcha OJSC was established in May 2016.
The Cabinet has not approved the Charter of Azerkhalcha JSC or defined its capital yet. ----08D
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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