LLC Azfinance Invest that declared itself a new player in the securities market in Azerbaijan in April 2014 has increased the registered capital to 1 million manat. This is the highest paid-in capital among the 14 brokerage firms available.
Ltd. Azfinance Invest was registered on 30 January 2014 under a different name - Gilan Capital. The authorized capital of the company was announced at 1,000 manat. In April, the company received licenses to carry out broker and dealer activities from the State Committee for Securities.
It is noteworthy that the company is still not involved in the securities market. At least it has not been included in the ranking of brokers with stock exchange securities transactions.
Note that according to the requirements of the State Securities Committee for the capital adequacy of brokerage companies, their aggregate capital must not be less than 100 000 manat. ----08B
Economics
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Azerbaijan’s oil and condensate production and exports saw a marked decrease during the period from January to September 2024, continuing a downward trend compared to previous years.
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Investments in fixed assets in Azerbaijan totaled 12.7 billion manats ($7.5 billion) in the first nine months of 2024, down 3.9 percent compared to the same period last year, the State Statistics Committee said on Monday. Investment in the oil and gas sector fell by 8.4 percent, while investment in the non-oil and gas sector dropped by 1.6 percent.
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Industrial production in Azerbaijan rose by 1.3% year-on-year in the first nine months of 2024, reaching 47.8 billion manats ($28.2 billion), the State Statistics Committee reported on Monday. The growth was driven by a 0.6% increase in the oil and gas sector and an 8.7% rise in the non-oil and gas sector.
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As of September 2024, the labor market in Azerbaijan has demonstrated active activity, total employment has reached 1,754.9 thousand people. The labor force is almost equally divided between the state and non-state sectors, which employ 878.3 thousand and 876.6 thousand people, respectively, according to the State Statistics Committee.
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