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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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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