Ata Holding announced the elimination of the company Inter Tourism established in December 2004. The head of the corporate holding Subhi Mustafayev commenting on the decision on the elimination of Inter Tourism Company said that it is probably due to the inactivity of the company.
Inter Tourism Ltd. was founded with the purpose of research, training and employment projects for attracting investments in tourism. Director of this company is Ashraf Kamilov, who is considered the owner of several holding companies, including JSC Synergy Group and JSC Industrial Construction Investment Corporation Accord.
In Ata Holding there are two active companies in the field of tourism (Ata Travel and Ata Tourism) and the Excelsior Hotel in Baku (operated by Interservice).
Note that according to the latest announced financial report, Ata Holding has at least 10 subsidiaries (Ata Inshaat, Ata Qida, SaSa Et Mehsullari, Ata Trading, Ata Marketing, Ata Agro, Ata Telecom, Ata Energy, Ata Oil Gas, and Ata Holding Moldova ), which also do not function. The question of their elimination is not considered yet. ---- 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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