The Tax Ministry registered the fourth part of the Swiss company with an international holding company "Novanord Holdings". Ltd. "Novanord Construction" was established on July 2.
According to the State register of commercial entities, $50,000 should be invested in initial capital of the new company. Director of the company has been appointed head of LLC "Akkord Novanord Construction", Salih Serdar Cakmak.
"Novanord Holdings" is an international holdings company operating in Azerbaijan, China, Cyprus (Northern), England, Italy, Kazakhstan, Maldives, Netherlands, Russia, Sweden, Switzerland, Turkey, UAE and USA with a portfolio of more than 25 companies.
“Novanord Holdings” is currently active in four main sectors: construction, organic agriculture, aquaculture & organic farming, industrial raw materials' production and tourism/hotel investments.
As Novanord Holdings we target penetrating to new sectors while we continue to expand in our current sectors with backward and forward integrations.
Behind the success of Novanord Holdings there lies; entrepreneurship, trustworthy, entrepreneur productivity, customer loyalty, and customer focused management style. --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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