Last year the insurance company Baki Sigorta reduced the assets to 12,208,048 manats (minus 7.6% as of 1 January), and the obligations reduced to 3,412,093 manats (minus 42.5%), the financial statements of the company reported, confirmed by the auditor's report.
The volume of deposits in banks reduced (minus 4%) to 7,046,054 AZN. But the company ended the year with a profit - before tax, it was at the level of 1,090,075 AZN though in 2014 there was fixed a loss of 1,635,042 AZN.
The revenues were at the level of 5,990,087 manats, of which almost half (2.36 million) was insurance premiums, while the investment income was AZN 857,014.
The costs were at the level of 4,900,012 manats with insurance payments of 1,741,091, and the reinsurance risks were 396,670 manats. The expenses mostly regarded the running of insurance business - 2 million 314.83 thousand manats.
The shareholders' equity amounted to 8 million 795.55 thousand manats (+ 21% per year), and the share capital - 8 million 925.43 thousand manats (+ 6.6%).
The insurance company Baki Sigorta began its activities on October 1, 2007. Its shareholders are 4 legal entities and 2 individuals. --17D-
Economics
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A detailed review of legislative norms and e-government services across various business environment domains has been prepared and published by the working group of the Business Environment and International Ratings Commission, focusing on electricity network connections.
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The draft law "On Amendments to the Tax Code," adopted in its third reading, provides for tax exemptions on the sale of locally manufactured buses in Azerbaijan and the supply of spare parts for these vehicles. This was reported by the Tax Service under the Ministry of Economy, explaining that the government's initiative aims to support business development in the country by reducing the tax burden. The exemption will come into effect on January 1, 2025, and will remain valid for eight years.
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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