Shareholders of Unibank will meet August 2 at an extraordinary general meeting. The only issue on the agenda is to increase the share capital.
Today Unibank’s paid share capital, taking into account preference shares, is 70.5 million manats. Of these, shares totaling 56,600,000 manats give shareholders the right to vote. Eldar Garibov owns 68.3% of the bank's capital.
Unibank's shareholders are also EBRD - 15.15%, the German Investment Company (DEG) - 8.33% and other minority shareholders.
The size of the planned capital increase is not reported. The latest decision to raise the bank's authorized capital was adopted in December 2013. ---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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