OJSC International Bank of Azerbaijan is recognized as the best on the results of last year's activities in the "leading bank in the development of e-commerce."
According to the information from IBA, the awards ceremony was held in the Central Bank of Azerbaijan yesterday.
The Bank also became the second in the "leader in the cashless payments in economic subjects."
Recall that the scope of e-commerce in Azerbaijan is not yet developed. Thus, in the 1st quarter of this year, the turnover of electronic retailing was at the level of 2 million 720 thousand manat. 92.7% of the goods in real time were ordered by entities.
Last year, the total turnover of e-retailers was at 6.4 million manat (0.0001% of GDP). --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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