OJSC Bank Silk Way intends to increase the share capital. According to the data of the State Committee for Securities (http://www.scs.gov.az/n500/bank_silk_vey_asc_adi_senedsiz_adli_sehmleri_dovlet_qeydiyyatina_alinmisdir), the issue prospectus of shares was registered yesterday. Additional issue is not planned and the nominal value will be increased.
The new conversion of securities will help increase the value of each of them (total 679,230) by 3.5 manats (+ 2.4%), after which they will be evaluated in 149.5 manats each.
After the repayment of the issue in the BSE the charter capital of Bank Silk Way will change from 99,167,580 to 101,544,885 manats.
OJSC Bank Silk Way received a license for professional activity in 2008. Its shareholders are two individuals and one legal entity. --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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