The State Committee for Property announced the conducting of the seventh specialized money auction for selling the shares of the privatized corporations. Investors are offered a controlling packets ogf the shares of the three joint-stock companies in the country.
Fifyt five per cent of shares of "Gence Temir Qurashdirma" (12,330 units) and "Agcabedi Tedaruk" (10,077), as well as 69.88% of shares of "Agcabedi gol-baliqchiliq" (42.606) are offered at the auction. Nominal value per a share is AZN 2. Usually, little money orders are made at the auction, and therefore, the shares are placed below the nominal.
The auction will be held from August 26 to 30 at the Auction center for the organization of trading in Baku and its five area offices in the cities of Ganja, Sumgait, Shirvan, Lankaran and Sheki. Previous auction was held in April this year. 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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