Corporate Securities Market Increases for First Time in 2012
The total turnover of transactions on all instruments at Baku Stock Exchange (BSE) in January-August 2012 was 7,552.77 million manat, which is 42.9% more than the corresponding period in the previous year. In August, the exchange turnover was 516.41 million manat.
According to the BSE, the share of government securities in the period was 94.7% of all transactions.
The increase in stock sales occurred at the expense of the government securities market, an increase of 46.1%. Turnover of transactions in the primary market of notes increased 35.7%. The volume of repo transactions increased 53.8%
The corporate securities market increased 2.6%. Operations on the primary placement of bonds decreased 2.6 times and the volume of secondary transactions in bonds rose by 5.7%. The primary market share increased 72.4%, and the secondary one grew by 25.5%. The number of transactions in the primary market increased from 109 to 110, and that in the secondary market decreased from 2,471 to 2,257. - 15D -
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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