The turnover of Baku Stock Exchange as of July 1 totaled 6 billion 787 million 415 thousand manat under 36,090 deals. Due to the derivative financial instruments, growth compared to January-June of last year amounted to 876.26 million at 11-fold increase in the number of transactions.
According to the information of BSE, in January there was reached an absolute record of monthly turnover (1 billion 933 million 579.45 thousand manats for 7,469 transactions), while June was the most passive in this year - 507 078 000 AZN in 3,642 transactions.
Total turnover in the first half was determined by foreign exchange derivatives - 5 billion 206 million 201.25 thousand AZN in 29,610 transactions. In this trend BSE turnover this year promises to be much more than the results of last year - December 31, turnover was at the level of 8 billion 634,110,000 manats for 6,369 transactions.
According to general statistics, the turnover of BSE in 2008 - 9 billion 159.5 million mantas – is still considered the biggest one. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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