Assets of the insurance company XA MBASK in 2016 increased by 8.4% or 2,960,936 manat in comparison with 2015, making 38,291,387 manat.
The capital of the company during this time increased by 3.6% or 687,045 manat and is 19,979,626 manat.
During the reporting period, the liabilities of AXA MBASK amounted to 18,311,760 manat (an increase of 2,273,890 manat or 14.2%).
In 2016, the insurance company's revenues amounted to 25,760,800 manat, and the expenses were 25,256,168 manat.
In 2016, AXA MBASK got 403,705 manat of net profit.
The company’s authorized capital is 19,733,738 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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