Compulsory insurance of civil liability of vehicle owners (CTP) in the first quarter brought the French-Azerbaijani insurance company AXA Mbask 1 million 624.42 thousand manat (+ 15% to April 1 last year). In general, the contributions of this type of insurance provided more than a third (34.2%) of the total premiums.
According to the press release, the payments by the insurance company in January-March amounted to 1 million 64.54 thousand manat (+ 42%). It is again the leading position (37%) of the total payments.
AXA Mbask was established in 1992. The company's shareholders are AXA Seguros Generales SA, De Seguros Y Reaseguros (90.1369%) and one individual (9.8631%).
The registered capital is 14 million 233.32 thousand manat.-- 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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