Assets of the insurance company Gala Sigorta in 2016 increased by 6.9% or 2,949,237 manat in comparison with 2015, making 45,704,740 manat.
The capital of the company for the reporting period increased by 5,447,600 manat or 44.4% and is 17,720,210 manat.
For the specified time, the obligations of Gala Sigorta decreased by 2,498,364 manat or 8.2%, amounting to 27,984,529 manat.
In the past year, the company's revenues amounted to 40,003,987 manat, and the expenses were 36,736,198 manat. The net profit was 2,589,472 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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