LLC Societe de Courtage is the only insurance and reinsurance broker in the local market (in the registry there are 8 of them) that annually presents financial reports.
According to the company's financial statements confirmed by the auditor's report, its last year's revenues amounted to 327.67 thousand manat and the costs were 226.64 thousand manat.
The net profit stood at 79.46 thousand manat, which is 6.1% less than last year (84.61 thousand). Before the deduction of income tax it was 101.03 thousand manat.
The company's assets grew by more than half (55.3%) - up to 1 million 386.44 thousand manat, the liabilities - by 67.5% - up to 1 million 133.28 thousand manat, and the assets – by 17.2% - up to 253.16 thousand. manat.
LLC Societe de Courtage (previously LLC Malakut Sigorta) was licensed to operate in Azerbaijan in August 2006. The authorized capital is equal to 155 783 manat. --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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