Management of Met-ak LLC met at the Baku Stock Exchange with representatives of all the six investment companies of Azerbaijan. The parties discussed the business plan of the company, for the implementation of which funds can be raised from the capital market, including the optimal tools, the BSE informs.
At the meeting, the cost of financing the project of the company Met-ak was also assessed, the amount of which has not yet been disclosed. Also information on the timing of the company's securities is not provided.
LLC Met-ak was founded in 1997 and was engaged in the import of steel pipes. In 1999 the company started production of steel pipes, and in 2005 it started making polymer pipes. In 2006, the company established a subsidiary structure, LLC Langu (planting orchards and fruit production). In 2014, the production of agricultural machinery was established. In 2016 LLC Met-ak received the status of a resident of the Balakhani Industrial Park. ---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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