Association of Leasing Companies of Azerbaijan (ALCA) continues to expand its own ranks.
According to the association, its members are new leasing company Ansar Leasing, Turan Leasing and Nikoil Leasing, with the first two companies to become full members. Nikoil Leasing joined the Association as a member of the supervisory.
ALCA was established in 2005 as part of the International Finance Corporation project "The development of leasing in Azerbaijan." Its members are also AG Leasing, AtaLeasing, Demir Bank, Joint Leasing, UniLeasing, Standard Leasing, Qafqaz Leasing, and ASB Bank. - 15D -
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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