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Two-day Banking and Financial Forum
Today started the Azerbaijan Banking and Financial Forum. The two-day event organized by Adam Smith Conferences will discuss topics related to the country's role in the international financial markets, investment banking, relations between foreign and Azerbaijani financial institutions, development of retail banking products, corporate finance and other tools.
According to the report by Pasha Bank (sponsor of the discussions), the forum was attended by over 100 representatives of various public and private organizations, including the International Finance Corporation, the World Bank, Asian Development Bank, European Investment Bank, the Central Bank of Azerbaijan, and other organizations representing financial sector.
As the member of the Board, Chief Investment Officer of Pasha Bank Taleh Kazimov said, such events are important in terms of the exchange of views and they build a professional dialogue between business and government agencies, as well as local and foreign experts. "We expect that the forum will be a great platform in which experts will share their vision of further development of the banking sector, asset management, capital markets and other areas," he said. --17D-
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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