The Moscow subsidiary of the International Bank of Azerbaijan (IBA-Moscow) repaid two syndicated loans totaling $ 104 million.
According to the report, the first of them (in the amount of $ 50 million) was brought together from JSC Novikombank, JSC MSP Bank, JSC Bank Uralsib and JSC RosEuroBank.
The second one (in the amount of $ 54 million) was also attracted from a group of leading Russian and Latvian banks.
Bank IBA-Moscow was founded in 2002. Its network consists of 14 sales offices in Moscow, St. Petersburg and Yekaterinburg. --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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