The insurance company Baki Sigorta has been recognized as Company of the Year.
According to this, the annual national prize was awarded for the expansion of business, good management and alignment with the consumer with the introduction of advanced technologies.
By the end of last year 28 companies became the best in various sectors of the economy.
The insurance company started operating at the beginning of February 1994. In 2004 it was granted a license for a period of 5 years. In 2009 the company received a license to a perpetual activity.
Its authorized capital is 6 million 523.84 thousand manats.
The major shareholder (90%) and the founder of Baki Sigorta is Bank Respublika. In addition, two individuals have access to asset management (10%).
The company operates 24 voluntary and 4 compulsory types of insurance. - 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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