In the first six months of 2016 the number of employees of Bank Respublika decreased by 67, from 635 to 568.
During this period the bank closed four of its branches in Sheki, Imishli, Goychay, and Shemkir.
The shareholders are 14 individuals and 5 legal entities.
In October, the bank increased its authorized capital by 20 million manat and brought it up to 57,461,021 manat.
16.6% of its shares are owned by Natig Saday Oglu Guliyev, 15.1% - by Elchin Saday Oglu Guliyev, 14.5% - to Sevda Saday Gyzy Guliyeva, 14.3% - to Saday Asad Oglu Guliyev, and 14% - to Maria Heydar Gyzy Guliyeva.
The Chairman of the Supervisory Board is Elchin Guliyev. -----71D
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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