The head of the largest petrochemical company Petkim, Sadeddin Korkut, was arrested in Istanbul. For some time now the company's controlling stake belongs to Azerbaijan, but rather the State Oil Company (SOCAR).
As the agency Anadolu said, Korkut and a group of employees of the company are accused of having links with the organization Hizmet headed by Fatullah Gulen.
The premises of Petkim were raided and documents were confiscated. Two hundred employees of the local petrochemical and energy complex are also accused of having links with Hizmet and have been subjected to legal proceedings.
In turn, SOCAR has informed that Anar Mammadov, who previously headed the division of SOCAR Trading in Greece, has been appointed new CEO of Petkim today.
The controlling stake in Petkim (61.32%) belongs to SOCAR Turkey Energy A.S. and SOCAR International DMCC OGG. Another 38.68% is in a free float on the Istanbul Stock Exchange.
Petkim produces polymers, detergents, plastic packaging, fabric, etc. The revenue of Petkim Petrokimya amounted to almost $ 1.6 billion in 2013, and its net profit was $ 41 million. -02D-
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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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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