In the first half of 2012 the turnover of corporate securities (SEC) in the National Depository Center (NDC) was 229.2 million manat at face value. That's 323.5 million manat or 58.6% less than in the comparable period in 2011. The collapse of the market is mainly associated with a reduction in the primary market, but the situation in the secondary securities market is not better.
According to NDC, the turnover of SEC was 85.9 million manat. This is 42.6% less than in January-June 2011. The volume of outstanding securities totaled 89.8 million manat, which was 77.5% fewer than during the same period last year.
The high rate of growth in this background shows the growth of OTC Operations for SEC. While the January-June 2010 volume of OTC transactions was 10.4 million manat, for the same period of the subsequent years this figure was 15.5 million, respectively, and 53.5 million manat.
The number of OTC transactions for the year increased by 44% to 373, despite the fact that NDC tariffs of OTC purchase and sale of SEC are twice the stock exchange ones. OTC, as a rule, regards transactions with large blocks of securities, in publishing which the insiders are not interested. - 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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