In 2016, the assets of the insurance company Revan Sigorta decreased by 1,423,621 manats or 8% compared to 2015, amounting to 16,241,702 manats.
During the reporting period, the company's capital amounted to 13,558,886 manats (an increase of 3.2% or 424,085 manats).
The liabilities of Revan Sigorta for the specified period decreased by 1,847,706 manats or 40.7% and make up 2,682,816 manats.
In 2016, the insurance company had revenues of 3,711,263 manats, the expenses were 3,362,601 manats and the net profit was 279,364 manats. -----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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