The assets of the insurance company Pasha Sigorta OJSC in 2016 increased by 19,470,176 manat or 17.2% compared to 2015, making 132,640,323 manat.
The company's capital grew by 2,030,919 manat or 2.9% and is 72,041,642 manat.
During the reporting period, the obligations of Pasha Sigorta amounted to 60,598,681 manat (an increase of 17,439,258 manat or 40.4%).
In 2016, the company's revenues amounted to 104,643,199 manat, and its expenses were 80,983,652 manat.
The company received 19,386,918 manat of net profit.
OJSC Pasha Sigorta is included in the group of companies Pasha Holding. The insurance company’s authorized capital is AZN 50 million. ----71D
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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