The conversion of its shares from 4.11 to 4.40 manat will enable the insurance company Khalg Sigorta to increase its authorized capital to 32 million 516 thousand manats (+ 7.05%).
According to the data of the State Committee for Securities (http://www.scs.gov.az/n449/xalq_sigorta_asc-nin_adi_senedsiz_adli_sehmleri_dovlet_qeydiyyatina_alinmishdir), growth of the nominal value applies to 7 million 390 thousand securities held by the financial structure. Recall, the level of the authorized capital is 30 million 372.9 thousand manats.
JSC Khalg Sigorta obtained a license from the Ministry of Finance in April 2006. Its shareholders are three individuals.
In January-May, the company collected 4 million 223.44 thousand manats and paid on insurance cases 1 million 543.38 thousand manats (the Eastern European ratio is 36.5%). --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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