Commercial Bank OJSC AtraBank convened on October 17 this year, the general meeting of shareholders.
As reported in the bank, the event will be held at the head office at 17:00 at Nasimi District, R. Behbudov Street, 77. At the meeting, among other things, the shareholders will discuss the issue of increasing the authorized capital of the bank.
Controlling interest (73.9 %) belongs to the family of Chairman of the Board Elmikhan Nabiyev.
Recall that, by the decision of the Central Bank of Azerbaijan dated July 25, 2013 the minimum total capital requirements for existing banks and authorized capital of newly established banks increased five-fold to 50 million manat. The new regulations will come into force on 1 January 2014. - 15B -
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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