Ltd Pasha Development for the third time this year has increased its capital. The founder (LLC Pasha Holding) has brought AZN 9 million to its authorized capital.
According to the state register of commercial entities, the share capital of LLC Pasha Development is now 212 million 273.9 thousand manat. The initial capital of the company (June 2012) was 16 million manat.
Note that this company is engaged in the acquisition, development and management of real estate.
Pasha Holding is controlled by the daughters of the President of Azerbaijan Leyla Aliyeva and Arzu Aliyeva. Its assets are estimated at 3 billion manat and the initial equity - 800 million manat. In the State Register of commercial organizations there is no information about the holding company and its subsidiaries, including JSC Pasha Bank, Pasha Construction and others. ---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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