JSC Ateshgah Hayat Sigorta published a report on the profits and losses according to the results of last year (https://www.ateshgah.com/site/assets/files/2775/m_nf_t_v_z_r_r_haqq_nda_hesabat_forma2.pdf).
The net reserves, according to data as of 1 January, reduced by AZN 26.9 million. The company's revenues amounted to 40.5 million manats, of which almost the entire amount was premiums.
The costs were at the level of AZN 38.22 million, of which 19.72 million was payments on insurance cases, conducting insurance activities totaled 9.26 million AZN, reinsurance made 5.42 million, and return of premiums amounted to 3 19 million AZN.
OJSC Ateshgah Hayat Sigorta with the authorized capital of 6.5 million AZN was established in 2009. The Chairman of the Board of Directors is Intigam Huseynov. The Chairman of the Board is Akbar Madatli. --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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