The local insurers Alfa Sigorta officially denied reports of a number of local electronic mass media on its closure.
The press release stated that "widespread speculation and assumptions about the closing are untrue. The company operates in a normal mode, providing full range of insurance services."
In accordance with the strategic goals, Alfa Sigorta continues to work on improving operational processes and customer services. In this connection, it works on the automation and optimization of the structure and costs.
Alfa Sigorta with the authorized capital of 7,780,000 manat received a license to operate in 1997. The sole shareholder is JSC Bank Technique. Clients are provided services for 33 types of insurance, including those in the framework of membership in the Bureau of Compulsory Insurance.
In January-March its premiums amounted to 1 million 495.93 thousand manat with payments of 434 thousand manat. --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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