On December 11, with the assistance of the Ministry of Finance and Azerbaijan Insurers Association (AIA), the 2nd Forum of Local Insurance Agents will be held.
The AIA Chairman Orkhan Bayramov reported the event is expected to involve about 250 representatives of insurance companies and intermediaries with the status of a legal entity, which is about a third of the country's insurance agents.
As a keynote speaker a representative from the Compulsory Insurance Bureau will speak. The success of the financial sector much depends on this area. The main topic of discussion will be the upcoming qualitative changes in the area in 2014.
According to Bayramov, prepared by experts and still distributed within the market, educational, advocacy and technology programs for insurance agents and other intermediaries will not only increase sales, but also the professional development of the specialists themselves.
One of the expected topics is the changes to the law on insurance of the AR recently adopted by the Parliament. - 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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