One of the six General Directors of JSC Rabita Bank, Arif Zeynalov, left the post at his own request. According to the report, he was in charge of the bank's strategy, finance and information technology.
Now there are five Directors in charge of various sectors, Seyran and Ziya Nuriyev, Eldar Aghayev, Jeyhun Ibrahimov and Binnet Novruzov.
JSC Rabita Bank has operated under license of the Central Bank of Azerbaijan since 1993 and has 23 branches and a sub-branch. Its authorized capital is 51.4 million, and the total capital is 64.12 million manats. The Chairman of the Supervisory Board is Zakir Nuriyev, and the Chairman of the Board is Elchin Ghadimov. --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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