The Board of Directors of JSC Azmont Bank has appointed Miodrag Radonjic Chief Executive Officer of the bank. His deputy is Kamran Mammadov, the Central Register of Commercial Entities in Montenegro reported.
Miodrag Radonjic before this appointment worked as assistant to the Minister of Finance on the state budget of Montenegro.
The Baku office of Azerbaijan Global Investments did not disclose information about the career of Kamran Mammadov for Turan IA.
The external auditor of the bank is the company Ernst & Young Montenegro.
Recall that the banking license of the Central Bank of Montenegro was given to Azmont Bank in March this year. The shareholder (LLC Azmont Investments) has invested about 12 million Euro in its capital.
Azmont Investments will provide investment support construction of the prestigious seaside resort town Portnovi in Montenegro. The facility will be commissioned in summer 2018. There are also unofficial reports that the bank will serve the project of the Trans Adriatic Pipeline (TAP). -- 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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