In 2016 the assets of the reinsurance company AzRe increased by 4,889,776 manat or 5% compared to 2016, amounting to 103,580,865 manat.
During the reporting period, the company's capital amounted to 75,448.392 manat (an increase of 5,937,185 manat or 8.5%).
The liabilities of the company for this period decreased by 1,047,409 manat or 3.6% and make 28,132,473 manat.
In 2016, the revenues of AzRe amounted to 67,421,412 manat, and the expenses were 47,235,835 manat. The net profit was 15,504,784 manat. -----71D
Economics
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In late February, the governments of Pakistan and Azerbaijan are expected to sign an investment agreement worth $2 billion, which will include several projects with SOCAR (State Oil Company of Azerbaijan). According to Turan, the energy cooperation projects discussed in January in Islamabad and Baku will feature in the agreement. These projects include energy efficiency initiatives, the construction of a pipeline, and SOCAR’s plans to explore the creation of underground gas storage facilities in Pakistan, as well as documents provided by the Pakistani side related to the exploration and extraction of hydrocarbons in the country.
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Azerbaijan continues to face an acute water shortage that affects both drinking and irrigation supplies, a problem that, despite frequent media attention, remains unresolved. Farmers are particularly feeling the pressure.
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BAKU, Feb 3 (Reuters) - Representatives from Azerbaijan’s State Tax Service (STS) participated in the latest session of the working group on tax, customs, and legal issues hosted by the German-Azerbaijani Chamber of Commerce.
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The Agency for the Development of Small and Medium Enterprises (KOBİA) has issued 192 start-up certificates to entrepreneurs, approximately 50% of whom are youth, according to Orkhan Mammadov, Chairman of KOBİA. The announcement was made at the Fifth Young Entrepreneurs Forum in Baku, underscoring the government's increasing focus on fostering innovation among the nation’s young entrepreneurs.
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