In December, the group of companies Gilan Holding established two companies using the brand name. Thus, despite the economic and financial crisis the holding company continues to grow.
According to the Ministry of Taxes, referring to the register of commercial legal entities, in order to promote real estate development and agricultural activities, Gilan Development Company Ltd. and Gilan Vegetables Ltd. were established. Their authorized capital is set at 100 manat.
Gilan is one of the most active participants in the construction and sale of real estate in Baku and regions of the country as well as abroad. The group has dozens of enterprises in agricultural production and agro-industrial complex. The company owns several thousand hectares of agricultural land in Azerbaijan. --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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