Assets of the insurance company Baki Sigorta decreased by 1,147,484 manat or 9.4% in 2016 compared to 2015, amounting to 11,060,996 manat.
During the reporting period, the company's capital grew by 1.4% or 122,022 manat and is 8,917,570 manat.
The liabilities of Baki Sigorta for the specified period decreased by 37.2% or 1,269,505 manat and amounted to 2,143,426 manat.
In 2016 the insurance company’s income amounted to 3,133,196 manat, and the expenses were 2,836,607 manat. The net profit was 237,271 manat. -----71D
Economics
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The 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change has taken a significant step towards a unified global response to climate change. On the first day of discussions in Baku, participating countries reached a historic agreement on the rules governing the creation and trade of carbon credits. This decision paves the way for the launch of multibillion-dollar carbon credit markets, to be overseen by the United Nations, potentially as soon as next year.
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The State Oil Company of Azerbaijan (SOCAR), Albania’s Ministry of Infrastructure and Energy, and Albanian gas company Albgaz signed a memorandum of understanding (MoU) on Sunday in Baku during the 29th session of the UN Climate Change Conference (COP 29).
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The Green Energy Corridor project, aimed at delivering green energy from Azerbaijan through Georgia and the Black Sea to Romania, Hungary, and Bulgaria, has entered the investment assessment phase, according to Georgian Deputy Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili.
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Azerbaijan’s state oil company SOCAR and Italy’s Italgas signed a cooperation agreement on Sunday during the 29th session of the United Nations Framework Convention on Climate Change (COP29), aimed at accelerating the energy transition.
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