Investment opportunities in the financial sector of Azerbaijan are interesting to American banks and other institutions in this segment.
On this occasion, on May 26 in New York there will be the first US-Azerbaijan business forum. According to the information resource Market Watch, an important goal of the event organized by the US-Azerbaijan Chamber of Commerce (USACC) is to determine the investment opportunities of Azerbaijani banks in the United States.
The report quoted the Chairman of the Board of Pasha Bank (one of the organizers) Farid Akhundov that "the parties would like to see a new level of cooperation that will contribute to the expansion of economic ties of the United States not only with Azerbaijan but also with the whole region." --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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