Global ICT giant TeliaSonera (Sweden - Finland) published a report on the results of the first half of this year. According to the data (http://www.teliasonera.com/en/newsroom/press-releases/2013/7/interim-report-january-june-2013), during the period the owner of the local mobile operator Azercell Telekom, got revenue of 25.3 billion kron, or $ 3.8 billion (down 3.9% compared to the same period last year.)
Earnings before deduction of taxes, interest and amortization (EBITDA) fell by 1.2%, to $ 1.35 billion, profitability of EBITDA increased to 35.3% from 34.4%. Operating profit decreased by 10.8% - to $ 952 million. As a result, TeliaSonera's net profit decreased by 13.5% - to $ 672 million.
Stock prices for stocks of TeliaSonera dropped, and net income of the holders of the parent structure decreased (by 9.3%.)
According to Per-Arne Blomkvist (President and CEO), the company prefers the long term, investments in energy efficiency, in 4G and fiber.
The financial crisis has forced the company to dismiss1050 specialists. These and other measures will help to save more than $ 300 million by the end of 2014.
In the markets of Eurasia «TeliaSonera» owns controlling stakes of mobile operators in the CIS (Azercell, Kcell, Geocell, Moldcell, Tcell, Ucell) and Nepal (Ncell). In addition, «TeliaSonera» owns a solid minority stake in Russia's OAO "MegaFon" and in Turkish «Turkcell». - 17D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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