JSC Azerbaijan Investment Company (AIC) signed an agreement with JSC Pasha Sigorta on a contract for voluntary health insurance for employees. The parties are permanent partners.
According to the register of state contracts, the contract value amounted to 12,600 manats, 12% more than in 2015. In 2014, the parties agreed to 11,700 AZN.
In 2015 AIC reported that it had 25 employees.
AIC was created in 2006 in order to support investment projects in the non-oil sector. From the State Oil Fund the company with 100% state capital has received 160 million manats. Currently AIC participates in the capital of several companies. -----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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