The Director General of JSC Rabitabank for Risk Management Aydin Huseynov was appointed Deputy Chairman of the financial structure.
As stated in its press release, it became known at the end of the general meeting of the shareholders. Now, thanks to the advanced powers, the financier will oversee not only the risks but also the analytical and supervisory sector.
JSC Rabitabank with an ownership capital of 61.7 million AZN has been valid from 30 June 1993. The head of the Supervisory Board is Zakir Nuriyev. The Chairman of the Board is Elchin Gadimov. Its shareholders are 20 individuals and legal entities. --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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