For the financial stability of JSC Azerishyg its authorized capital has been increased to 885.63 million manats. The decision of the Cabinet of Ministers of Azerbaijan Republic, providing for the capital increase from 623.53 million (+ 42%), also relates to increasing the total number of shares from 311,766,766 to 442,816,766. The cost of the nominal value of each security is not changed - approximately AZN 2 (1.999988).
Providing the solutions is entrusted to the State Committee for Property Affairs of Azerbaijan, State Committee for Securities, the Ministry of Taxes and Azerishyg.
Recall, by the head of state decree on February 10, 2015 JSC Bakyelektrikshebeke was renamed to JSC Azerishyg, according to which the powers of Azerenergy in terms of power supply to consumers were transferred to it. --17D-
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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