The State Securities Committee granted on April 7 LLC Azfinance Invest a license for broker -dealer activities in the securities market.
Ltd. Azfinance Invest was registered on January 30 this year under a different name Gilan Capital. The authorized capital of the company is 1,000 manat, the address and CEO remain unchanged.
Earlier LLC Gilan made entry into the securities market by Ltd. AFB Capital. In December 2009, LLC AFB Capital was granted a license as a broker-dealer. In March 2010, the company received another license for securities management, but in May 2011, the company abandoned all the three licenses.
Ltd. AFB Capital despite the suspension of activities is still a subsidiary of JSC AFB Bank (included in the group of companies Gilan).
Currently, licenses for brokerage activity belong to 16 companies. Another 15 licenses were issued for the dealership. Stock ranking of brokers in March this year included 10 companies.
This year, the license must be updated for three brokers (LLC Caspian Financial ltd, Standard Capital and Khalg Capital). Licenses for professional services on the securities market are issued for 5 years. -08B-
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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