Deals with government securities on the Baku Stock Exchange in January-August compared with last year's period to September 1 decreased 25.8 times and amounted to 19,156,670 manats. The entire amount came to the placement in the secondary market for bonds issued by the Ministry of Finance.
The total turnover of transactions on all instruments by 1 September totaled 7,341,295,511.74 manats (+ 10.5% compared to January-August last year). The leaders are derivative instruments - in this segment of the financial market transactions amounted to 5,461,341,290 manats (an increase of 4.6 times). The share of debt securities was 1,520,309,890 manats (minus 31.6%). On the volume of placement of bonds the Azerbaijan Mortgage Fund (AMF) on the secondary market had 1,289,774,390 manats, and in the primary market - 31,259,840 manats.
Dramatically reduced the level of repo operations - by September 1 last year, they were at 3,535,442,990 AZN, but this year - 113 518 150 manats. The share market’s role in the total turnover of BSE in the reporting period was 148,003,800 manats (shortfall of 5.1 times). At the same time on the trading floor placement of shares worth 139,080,670 manat was carried out, and in the secondary market it was 8,923,130 manats. --17D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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