The Financial Markets Supervision House (FMSH) registered 4,622 shares of Turan Bank at a nominal value of 1,082 manat each. Thus, the authorized capital of Turan Bank increased 5 million AZN to 55,002,466 AZN.
JSC Uni Bank is increasing its authorized capital by 55 million AZN. FMSH registered 20,220,589 shares of Uni Bank with a nominal value of 2.72 AZN each. The authorized capital of the bank will amount to 125,565,232 AZN.
Shares of each of the above-mentioned JSCs will be distributed to the shareholders. -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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