On July 13, 2012 Azerbaijan State Securities Committee registered a prospect of issue of shares of Azerkorpu open-type JSC. The decision to issue shares with total value of 5000 AZN was made at the session of shareholders on June 24, 2012 after merger with the Ukrainian Azerkorpu-Autobahn company, founder of which is Azerbaijani citizen.
A source from Azerkorpu told Turan that the goal of the merger is implementation of a big transport infrastructure project, the contractor of which is Azerkorpu company, in Kiev district. Azerkorpu-Autobahn company has experience of construction of the Kiev-Chop highway.
During 2011 Azerkorpu company carried out the contract works totaling about 300 million AZN. The company has got a net profit of 17 million AZN. The authorized capital of JSC is 372,290 AZN.—0—
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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