Two foreign companies announced their liquidation, on which they notified their creditors on March 9. The branch of the company Wicklow Corporate Services Limited (Britain) has been operating in Azerbaijan since 2007. Last year the head of this company Said Alum Biti had a personal conflict with one of the members of the American Chamber of Commerce in Azerbaijan. The case went to court and finally his company was expelled from the ranks of the Amcham public organization.
The branch of the Swiss company Man Oil Group AG was founded in Baku in 2011 for the purpose of cleaning oil-polluted territories using the latest technologies (http://www.vesti.az/news/42823). What it really did was unknown. --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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