The State Committee for Property Affairs has granted ownership of controlling shares in two investment competitions.
The committee's press service told Turan that investors fulfilled obligations to restore the activity of Azerkabel and Polad Idman Klubu. Recall that in 2011, investment tenders sold 99.96% shares of the sports club Polad Idman Klubu in Sumgait and 87.59% of the shares of Azerkabel in Mingachevir.
The amount of the Negshi Cahan investment company's commitment to the sports club is not made public. But Ltd. Azerkabel is obligated to invest AZN 400,000 to revitalize the production of electrical cables. - 08B-
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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