JSC Construction and Investment Industrial Corporation Accord founded a company, which will deal with the exploitation of residential buildings built in Baku and Absheron.
Property Investments Ltd. told Turan the corporation Accord has built 9 residential complexes, where there are 10 thousand apartments. The main objectives of the company are regional planning and maintaining normal public services.
It is noteworthy that the authorized capital of Property Investments Ltd is 70 million AZN. It is solid capital on the scale of Azerbaijan. Moreover, this amount is only 4.1 million manat inferior to the authorized capital of the parent company. ---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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