2014 February 20 (Thursday) 18:26:50
In January of this year, the turnover of corporate securities in Azerbaijan amounted to 303.4 million manat, which is 4.7 times more than in the comparable period of 2013.
Growth was achieved mainly due to placement of IBA shares , as well as purchase and sale of bonds of the Azerbaijan Mortgage Fund (AMF) in the secondary market .
According to the State Committee for Securities , last month the amount of placement of shares on 105 transactions equaled 106.7 million manat, or 105.2 million manat more than in January 2013. Secondary market share fell to one of the lowest in the history of the stock market in Azerbaijan - 458.8 thousand manats, including the Baku Stock Exchange - 223,600 manats. In January last year , the figure was 28.6 million manat.
Transactions with shares also became less active. If in January 2013 on the secondary market were concluded 363 transactions, in the past month the figure was 298.
On the backdrop of low volume of placement (22,454,600 manats or minus 12 %) in seven transactions , the secondary corporate bond market was pretty hot . The volume of the secondary bond market amounted to 173.8 million manat, which is 20 times higher than in the same month last year. However, stock exchange statistics shows that there is still the main tool is the AMF bonds , which accounted for about 96 % of the market. It is noteworthy that, despite the low interest rate (3 % per year) , covered bonds of AMF are quite popular among financial companies, which purchased hitherto bonds totaling 176 million manat.
Investors are also of interest in the bonds of AccessBank, Bank of Baku, Finca Azerbaycan, Bakcell Ltd and Unibank. - 08B-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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