In 2016, the assets of the insurance company A-Group decreased by 17.5% or AZN 4,914,740 compared to 2015, amounting to 23,132,491 manat.
During the reporting period, the company's capital decreased by 29.7% or 5,003,026 manat and amounted to 11,822,699 manat.
For the specified time, the obligations of A-Group amounted to 11,309,791 manat (an increase of 88,285 manat or 0.8%).
In 2016, the insurance company had an income of 15,189,307 manat, an expenditure of 11,605,578 manat and a net profit of 2,866,983 manat. -----71D
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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