PASHA Sigorta OJSC won the tender of the State Oil Fund of Azerbaijan (SOFAZ). According to the information on the site of the accumulating body, the company will insure the Fund’s property.
The official contract was signed by the parties on March 7, according to which the property in the new administrative building of the Fund in Baku will be insured mandatorily, including all engineering structures, as well as the responsibility of the owner of the property in operation. In addition, a policy is issued on voluntary car insurance (Hull).
OJSC PASHA Sigorta with an authorized capital of AZN 35 million is in the group PASHA Holding. A license to operate was received in July 2006 and it provides services on 31 types of insurance. --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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