General Meeting of Shareholders of DemirBank will take place on June 29, which will focus on organizational and financial nature.
In accordance with the requirements of the legislation, the shareholders elected a new Supervisory Board, the Management Board and the Audit Committee, as well as express their opinion on the particular value of the transaction. In addition, it is planned to increase the authorized capital of a subsidiary of the bank - a brokerage company LLC ADB Broker.
OJSC DemirBank was established in 1992. The bank's shares belong to more than 800 businesses and individuals and it is one of the most advanced ones in Azerbaijan. Among the shareholders there is EBRD (25% +1 share) and Netherlands Development Finance Company (10%).
According to January 1, the authorized capital of JSC DemirBank is AZN 21 million, and the total capital is 57.2 million manat. The bank's assets are 382 million manat. - 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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