The insurance company Baki Sigorta plans to increase its charter capital up to 9 million 373.84 thousand manat (+ 11.9%).
According to the report of the State Committee for Securities, it will be possible due to the additional issue of shares in the amount of 1 million 160 manat. The additional issue is divided into 1 316 shares with par value of 760 manats for security.
JSC Baki Sigorta began to work on October 1, 2007. The shareholders of the structure with a registered capital of 8 million 373.68 thousand manat are 4 businesses and 2 individuals.
Last year the premiums of Baki Sigorta amounted to 3 million 508.26 thousand manat, while the payments were 2 million 375.11 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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