In August the members of the local Bureau Compulsory Insurance (ISB) gathered under the civil liability insurance of vehicle owners to third parties (insurance) 7.2 million mantas (minus 6% last year to August.) According to the monthly report accumulating structure for this type of 11 companies signed 89 thousand. 193 contract (minus 9.6%).
Selling insurance policies on the new tariffs and conditions started on December 16, 2011. The basic rate of 50 manats is applied to vehicles with an engine capacity of up to 1,500 cubic cm. The maximum rate - 5 is applied in respect of transport with engine capacity of 5,000 cubic cm, and the insurance rate is 250 manat.
For buses and vans involved in transport passengers with the number of seats from 9 to 16 is applied coefficient 3 to the base tariff, more than 16 seats - the coefficient 4. For freight rate is 3 to 5, depending on the maximum load capacity. For motorcycles, tractors and other agricultural machinery ratio is 1. --17D-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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