In 2016, assets of Pasha Hayat Sigorta OJSC increased by 20,946,747 manat or 14.6% compared to 2015, amounting to 164,622,727 manat.
During the reporting period, the company's capital grew by 13.8% or 7,025,270 manat and amounted to 58,079,252 manat.
The company’s liabilities amounted to 106,543,475 manat in 2016 (an increase of 15% or 13,921,477 manat).
In 2016 the income of OJSC Pasha Hayat Sigorta amounted to 87,415,742 manat, and the expenses were 64,819,259 manat. Last year the company showed a net profit of 17,766,381 manat.
Pasha Hayat Sigorta OJSC has been operating since November 2010. It is a member of the group of companies Pasha Holding.
The authorized capital of Pasha Hayat Sigorta is 40,250,000 manat. ---- 71D
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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