Ltd Baku Bus announced the winner of the tender for the insurance of their buses.
According to the information of State Procurement Agency, it is the company PASHA Sigorta. A contract worth 1 million 204.38 thousand manats has been signed with it.
Subordinated to the Executive Power of Baku, LLC Baku Bus was founded in April 2014, based on the decision of the Cabinet of Ministers of Azerbaijan Republic with the intention of bringing bus transport services Baku in line with international standards and to ensure the safety of passenger transportation.
The insurance company PASHA Sigorta is part of Pasha Holding since July 2006. Its authorized capital is 50 million AZN.
By September 1, it collected 46 million 34.88 thousand manats with payments of 19 million 361.95 thousand manats, which provided its leadership in this segment of the financial market. --17D-
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review