Russia’s biggest private oil company LUKoil considers possibility of placement of its shares at Hong Kong exchange stock, said LUKoil’s President Vagit Alekperov.
Lack of the agreement, which will allow the Russian companies to place securities directly in Hong Kong, could become an obstacle for this intention.
This is not the first time when Alekperov thinks about listing in Hong Kong – in 2010 LUKoil already announced the similar intentions.
Sale of shares in Hong Kong is just the matter of time, because “placement will become an important step towards Asia,” Bloomberg quoted Alekperov as saying. –0—
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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