The State Committee for Securities registered the issue of shares of the insurance company "AXA MBASK" in the amount of a little more than 3 million manats. The company is increasing its authorized capital up to 20 million manat.
Recently, after the acquisition of 8.39% of the company "AXA Seguros Generales, the SA, De Seguros Y Reaseguros" (Spain) became the sole shareholder of "AXA MBASK".
The shares of "AXA MBASK" will be carried out through the stock exchange. Most likely, they will buy existing shareholders. At the beginning of 2015, the outstanding claims of "AXA MBASK" totaled 3,675,000 manat.-- 08D-
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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