On 17th May at the Heydar Aliyev Center in Guba there was held a regional video-conference on corporate governance and the effectiveness of the reporting system in joint stock companies.
The press service of the State Committee for Securities told Turan that the video conference will be attended by heads of departments SSC who will discuss with the leaders of corporations Guba-Khachmaz economic region topical issues of the relationship between management and shareholders, shareholder protection, management and implementation Reporting to the general meeting of shareholders and government agencies.
Prior to this, these conferences were held in the cities of Ganja, Lankaran and Sheki. However, the effectiveness of such measures is not high. The level of compliance with the standards of corporate governance and accountability is still low.
SSC with the participation of international organizations has drafted legislation to harmonize local legislation with European standards and tighter administrative penalties for violating them. However, for the past 4 years, these documents are not received in the country's parliament. 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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