Priority spheres of lending businesses in the Sabunchu district of Baku have been determined. According to the report of the National Fund for Entrepreneurship Support ( NFES), as appropriate were recognized lending projects to create a logistics center for the storage , preparation and sale of agricultural products; specialized complex " green market" ; and small enterprises producing socks and greenhouses.
NFES was established in 1992. Agents of the Fund for loans are 44 banks and non-bank credit organizations. In 2013, the Fund disbursed subsidized loans for 275 million manat . In 2014, the Fund plans to issue loans for 280 million manat. - 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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