The State Securities Committee circulated today about the fact of identifying proposals from the representative of the company "Forex4you" asset management services without obtaining a special permit (license). The company itself refutes the statement of the supervisory authority in the securities market.
The report by the Department of Public Relations SSC noted that companies have been instructed to suspend the illegal activity. In addition, the committee called on citizens to be vigilant in the operations of this company.
Director of the Azerbaijan representation of the company "E-Global Trade & Finance Group" (Virgin Islands, British) Farid Sattarov said Turan, that today the company has not received an official document from the SSC with a claim on its activities. "As for the" Forex4you "and its services, must declare that it is not the company but the trading brand of" E-Global Trade & Finance Group ". Our business is to provide customers with a full service investment, which is very different from asset management activities, "he said. Sattarov said that, in implementing inspection the staff of the SSC is confused because of the low level of knowledge in the sector of finance. According to the representative of the "E-Global Trade & Finance Group" similar services in Azerbaijan and the company has "Forex Club". - 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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