The February 11 auction to sell notes of the Central Bank once again did not take place due to lack of "appetite" at investors.
The bank offers short-term (maturity - 28 days) notes totaling 5 million manat. The interest rate on these securities for a long time has remained stable - 1% per annum, which is not in the interests of investors. Moreover, these securities are no longer in circulation. Experts note that this course of events pleases CBA, too.
"This policy causes increase in the money supply, as in the current economic climate there is no need to sterilize the manat. At the same time the Central Bank regulates the money market selling USD, seeking to stabilize the exchange rate USD / AZN,” a brokerage firm told Turan. ---08B
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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