Azerbaijan favorable conditions for investment in the securities market. This was at a meeting on May 31 with the Deputy Chairman of the State Securities Committee Ilgar Muradov said Vice President for Financial Affairs of the European Bank for Reconstruction and Development, Manfred Schepers.
The representative of the SSC stated that "the expansion of ties with the EBRD will provide new opportunities in the securities market."
Press Service of the State Committee for Securities has not disclosed the details of the meeting and the purpose of the visit of Manfred Schepers were not known.
EBRD has a stake in a number of private companies and commercial banks of Azerbaijan. Since 1992, the Bank is an active lender of the state and private entities. Since the beginning of cooperation Bank has committed $ 2.1 billion to fund 117 projects in Azerbaijan.
In April of this year, Minister of Economic Development Shahin Mustafayev at a meeting with members of the Board of Directors of the Bank, the Bank invited to direct financing of private enterprises and the expansion of participation in the share capital. - 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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