In 2016, the assets of the insurance company Khalg Sigorta increased by 4.1% or AZN 2,127,299 compared to 2015, making 54,139,202 manat.
During the reporting period, the company's capital grew by 13.5% or 5,333,528 manat and is 44,758,666 manat.
The liabilities of Khalg Sigorta for this period decreased by 25.5% or 3,206,229 manat and amounted to 9,380,536 manat.
The authorized capital of the insurance company in 2016 increased from 32,516,000 manat to 39,388,700 manat.
The company completed the year 2016 with a profit of 6,672,531 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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