The brokerage company AzFinance Invest has joined the advisory listing program (ALP) of the Baku Stock Exchange (BSE) and signed a collective agreement on cooperation.
Under this agreement, the partners on ALP provide gratuitous advice and training services to the issuers who wish to raise finance from the capital market.
ALP partners are 11 consulting, legal and brokerage firms. In the quotation list of BSE there are 5 companies, including one company with listing at the main level. So far, none of the companies in Azerbaijan has presented its securities for sale through mass proposal.
Ltd. AzFinance Invest with a capital of 1 million AZN is an affiliate of Gilan Holding. ----08D
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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