An extraordinary shareholders' meeting of OJSC International Bank of Azerbaijan has been convened. The only question on the agenda is the elimination of International Insurance Company, a subsidiary of IBA. The general meeting is scheduled for October 12.
OJSC International Insurance Company has operated since 2002. The shares are fully owned by IBA.
In the first half of 2016 the company's loss amounted to about 1.5 million AZN. As of July 1 this year, the unpaid loss of the insurance company reached 3.5 million AZN. Within 6 months from the beginning of the year its assets fell from 31.5 million to 28.2 million AZN. -----08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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