The total turnover of the Baku Stock Exchange at the end of last year amounted to 8,455,507,000 AZN in 53,367 transactions, which in absolute terms was by 35.6% less than achieved in 2014 (13,125,710,000 manat).
Derivative instruments were the absolute leader with 6,194.38 million AZN in 48,814 transactions. At the same time the main role was played by foreign exchange derivative instruments – 6,095.49 million AZN in 43,445 transactions that was almost twice the period of a year earlier. --17D
Economics
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The 12th International Caspian Energy Forum commenced today in Baku, organized by the Caspian Energy Club in collaboration with Enermus, bringing together over 500 delegates from across the Caspian-Black Sea and Baltic regions.
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The World Bank has recommended that Azerbaijan cut subsidies in its water sector to enhance system sustainability and address the escalating issue of water scarcity, Stephanie Stollmeister, Manager of the World Bank Representative Office in Azerbaijan, reported.
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Last week, the Central Bank of Russia raised the interest rate from 18% to 19% annually. The decision to increase the rate was made against the backdrop of rising inflation expectations among the public and businesses.
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Azerbaijan’s Cabinet of Ministers has announced a detailed timeline for the mandatory transition of labor contracts to an electronic document format, in accordance with a decree issued by the President of Azerbaijan on June 28, 2024. The resolution, signed on September 17 by Prime Minister Ali Asadov, outlines phased implementation deadlines for different categories of employers, with the aim of modernizing labor documentation and improving efficiency.
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