At a December 21 general meeting of shareholders of Baku Stock Exchange, Rovshan Allahverdiyev was elected the new Chairman of the Supervisory Board of the Exchange.
Rovshan Allahverdiyev from 2013 has held the position of Chairman of the Board of JSC Capital Bank. In the Supervisory Board he replaced another representative of the bank, Yashar Mammadov.
By the decision of shareholders, the former Chairman of the Supervisory Board of the BSE was suspended from membership in that body. As a member of the Supervisory Board he was replaced by Fuad Islamov, one of the three Directors-General of the International Bank of Azerbaijan.
In total, the Supervisory Board includes representatives of 7 of the 20 shareholders of the BSE.
BSE was established in 2000 and is the only exchange platform for the participants of the stock market. ---08D
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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