The Yasamal branch of Azer-Turk Bank, which covers the entire range of banking services, opened in Baku today. The new branch of the bank is located at 89 Gutkashenly Street.
In July, the bank opened its Sub-branch No1 in the capital. The sub-branch is located in the service ASAN №5 located in the Nizami district of Baku, 115 Heydar Aliyev Avenue. Clients that contact ASAN will be provided banking services by the Azer-Turk Bank sub-branch.
Today Azer-Turk Bank has a network of five branches, two of which are located in Ganja and Nakhchivan
Azer-Turk Bank was established in 1995. Currently, 75% stake in the bank is owned by the state, the bank’s website reported. -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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