The insurance company Qala Hayat Sigorta has announced another increase in the authorized capital by almost 20% - 1.488 million manat. Its volume of the authorized capital after repayment of the emission will be 7.456 million manat. In the meantime, the level is 5.968 million manat.
Achieving this result is the fruit of the decision of the main shareholder to refuse of net income redistribution in favor of strengthening the fight against financial risks.
It will be possible by increasing the par value of shares from 1 628 to 2 156 manat. The issue prospectus of 3,500 ordinary registered non-documentary shares of the insurer was registered by the State Securities Committee of Azerbaijan yesterday, November 26.
As they Told Turan in the company, with respect to this issue, by tradition, the method of private placement will be used. Any change in the composition of shareholders is not planned. --17D-
Economics
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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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The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) hosted its biannual Members' General Meeting in Baku on December 18, 2024, gathering over 80 business representatives to reflect on the chamber’s milestones and chart a path forward.
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