The winner of the tender for insurance of administrative building and property of Azerbaijan Mortgage Fund (AMF) has been found.
As stated in the press release, it is the insurance company Mega Sigorta. With the winner, contracts were signed for the period of a calendar year on April 27.
AMF mortgage lending started in March 2006. During the first half of 2007 it involved the issuance of preferential social mortgage (maximum loan of 50 thousand manat at a rate of not more than 4% per annum).
Mortgage loans on commercial terms are issued in manat and only to Azerbaijani citizens (for a period of 3 to 25 years with a maximum loan amount of 50,000 manat and no more than the rate of 8% per annum).
JSC Mega Sigorta was established on 1 October 2010. Its shareholders are six individuals. --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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