The International Finance Corporation (IFC), with the participation of the Ministry of Economic Development, will hold a presentation of the assessment methodologies for corporate governance on October 8.
The Baku office of IFC told Turan the event will be attended by representatives of the German Commission on Corporate Governance and the Group of Consulting Services for the Private Sector of the Global Corporate Governance Forum.
The Azerbaijani Corporate Governance Code was developed with the participation of IFC and adopted in January 2011 and is voluntary for companies. The Code is consistent with the basic principles of corporate governance of the Organization for Economic Cooperation and Development (OECD).
Several banks, insurers and micro-crediting institutions in Azerbaijan meet the requirements of the Code. - 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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