Baku hosts an international conference "Formation of the capital market - trends, appeals and opportunities." The Forum, which brought together representatives from 21 countries, is dedicated to the 15th anniversary of the National Depository Center (NDC) - the central depository in Azerbaijan.
Speaking at the conference the representative of the World Bank Office in Baku Rufiz Chyragzadeh noted that the financial market in Azerbaijan is developing mainly due to bank capital. And to achieve the overall growth of the economy requires the involvement in the process and other economic sectors.
According to the chairman of the State Committee for Securities Rufat Aslanli, the law "On Securities" is able to "turn the situation on the local stock market" and expand the investment process. The document is under consideration by the government. According to him, the bill contains procedures for the organization and operation of investment companies. According to him, the new law is aimed at strengthening the protection of investors and issuers.
NDC serves over 1,400 issuers. Its founder is the State Securities Committee. - 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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