The process of placing additional shares in the amount of 3 million 228 manat by AXA Mbask has been completed. Due to this, its share capital has reached 19 million 733.74 thousand manats.
According to the report by AXA Mbask, it is an increase of 17.9%. The additional issue is divided into 7,854 shares of a par value of 382 manats for each security.
The insurance company AXA Mbask was established in 1992. All 100% of the shares were purchased by the company AXA Seguros Generales, SA, De Seguros YReaseguros (Spanish French financial holding company structure).
Over the past three quarters its premiums amounted to 13 million 612.25 thousand manat with payments of 8 million 310.96 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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