CJSC Baku Subway terminated the contract on the purchase of two universal milling and turning machines, the company’s tender commission announced.
“The subway refused of the purchase of machines that are needed to repair the escalators due to financial constraints. The contract with a local company was concluded in December of last year. The contract party has not submitted a claim for its losses,” the representative of the tender commission Rauf Yusifov told Turan.
According to him, the cost of the contract amounted to 106 thousand manats. The tender was announced in September 2016.
In 2017, the government reduced the subsidies from the state budget to Baku Metro by AZN 8 million. This year it will amount to AZN 30 million. ----- 08B
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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