The list of partners of the processing center «AzeriCard» was replenished by another credit institution. The JSC «Ziraat Bank Azerbaycan», founded by Turkish Ziraat Bankası, and having since the beginning of the year the license of the Central Bank of Azerbaijan, joined the system now. According to the Center, a cooperation agreement between the parties was signed in July, and will soon step up work to establish the infrastructure of the bank card. On December 30, 2014 the CBA issued the license for the activities of «Ziraat Bank Azerbaycan» with an initial registered capital of 50 million manat. Partners of AzeriCard Processing Center under the International Bank of Azerbaijan are now 34 banks. --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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