Tomorrow the State Securities Committee (SSC) will organize in Lankaran a video conference with the heads of some 100 joint-stock companies, located in the southern parts of the country.
The press service of the State Committee for Securities told Turan, the event aims to improve corporate governance and accountability in joint stock companies. This is the first action of the sort by SCS, using information technology in the relationship with the companies.
Heads of the departments of Baku SSC answer your questions representatives of JSC.
The level of corporate governance and accountability in the Azerbaijani joint-stock companies is very low. General meeting of shareholders shall be held on a regular basis, the Supervisory Board has a formal character, shareholder rights are violated, and the annual and financial reports are not published. - 08D-
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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