Azerbaijan: reinsurance company to increase capital

Azerbaijan’s sole reinsurance company AzRe Reinsurance OJSC plans to increase its authorized capital by 25%, to 50 million manats (AZN), the message of Azerbaijan’s Financial Market Supervisory Body said. The supervisory body registered the issue of ordinary nominal book-entry shares of the reinsurance company at face value of 25,000 manats in 2000. The issue placement…

Azerbaijan: owing no one, depending on no one

Azerbaijan enjoys great reputation around the world, President Ilham Aliyev said, addressing the opening ceremony of the 5th Baku International Humanitarian Forum. “Next month we will mark the 25th anniversary of restoration of our independence”, Aliyev said, adding that most of the years during this 25-year period had been the years of progress and development.…