Loss from operations of BSE for 2015 increased by 7 times and made up 800 thousand AZN. This is evidenced by the financial report of the stock exchange.
Last year, the BSE tariff revenues amounted to 377 thousand manats, which was 60% less than in the previous year. The main reason for falling revenues is reducing operations with securities, both in the corporate and public sector.
Due to the funds in banks in the amount of 2.5 million AZN, 221.8 thousand AZN was gained. Most likely, these funds are held in foreign currency. Because of the devaluation of the manat the exchange saved 636 thousand AZN. As a consequence, the net profit of the BSE for 2015 amounted to 36.3 thousand AZN, 33% less than in 2014.
BSE was created in 2000. Its authorized capital is 1 million 260 thousand manats. The exchange shares are distributed among 20 investors, none of which has more than 10% of the shares.
As of January 1, 2016, BSE retained undistributed profit in the bank for a total amount of 1 million 874 thousand AZN. -----08D
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- 27 June 2016 14:28
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- Economics
- 28 June 2016 11:11
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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