The Financial Markets Supervision House registered the issue prospectus of shares of the state JSC Azerkhalcha on November 21.
As Turan was told in FMSH, there were issued 15 million ordinary shares with par value of 1 manat each. The shares will be placed through closed subscription.
The JSC was created in May of this year by the Head of State with a view to the development of carpet weaving in the country.
It was reported that the JSC at the expense of public funding will create a carpet shop in 10 regions of the country. The joint stock company operates under the Ministry of Economy.
FMSH has not yet opened the state register of securities issues. The House reports on individual securities issues through the press service. ---9B
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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