The American Solera Holding (owner of Audatex) begins operations in Azerbaijan. The Ministry of Taxes registered (date - March 12, published today) the subsidiary Solera Azerbaycan. The goal is to build software based on the technology Audatex, allowing the use of common approaches in the local insurance market and assessment of damage to vehicles during traffic accidents.
The official representative of the company Solera Azerbaycan is Nigar Hasanova. The entity is registered at apt. 37, 203 Murtaza Mukhtarov Street. The new enterprise unit has been established within the joint activity agreement signed in December between the Compulsory Insurance Office and the company Sidexa (subsidiary of Audatex in France). It will start operations in the second half of 2015. --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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