Repair and construction management JSC "Azerbaijan Railways" started to dismantle the coating materials of the hotel "Vokzal" which is on the balance sheet of the Baku railway station. This is the first public step of Javid Gurbanov, the new head of the Azerbaijan Railway since his appointment to this position on 9 February, 2015.
Facing of the 16-storey building around the perimeter, which includes a railroad station and other objects ended a few months ago. Facing was made of expensive materials of local origin. According to one of the employees, the new management has estimated that these materials are too heavy, and increase the utilization of the building and thus reduces the seismic stability.
JSC "Azerbaijan Railway" did not disclose the amount of the costs of facing, and it is not known how much will cost removal and replacement with a new building material. 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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