On 29 October this year in Osaka started a major international financial forum SIBOS, which annually gathers thousands of representatives of the leading credit and financial institutions around the world.
As always, the forum will be attended by representatives of leading banks, financial institutions and corporations, as well as consultants, developers and suppliers of equipment and solutions for the financial sector. At the meetings SIBOS attention discuss a wide range of topical issues in the global financial industry, including issues relating to interaction between banks and major corporations around the world, the introduction of new financial services, and the development of capital markets, improving risk management systems, and more.
Like last year, PASHA Bank participation in this event is an opportune moment for the presentation of its own capabilities and achievements of the year. "This is the third international forum SIBOS, where we are actively involved. Such events can establish new business relationship and learn about technological advances in banking and more. In short, SIBOS is a "banking platform", opening market players a new ground," said the Chairman of the Board of the bank Farid Akhundov.
The event will last until November 1. -15D-
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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