In the first half of this year, the National Depository Center accepted the deposit of valuable papers (mostly uncertified) of AZN 671 mln. Thus, the volume of assets stored in the NDC as of July 1, reached 7.1 billion manat.
At the recently held general meeting of NDC, it was noted that in January-June, the depositary concluded agreements on the register and deposit assets of 27 issuers. In order to achieve the goal of converting the NDC in the Central Depository, they developed an action plan to improve the position of the trading system, and set up a working group. They continue legal and technical work on the implementation of NDC clearing and settlement and integration to the national payment system through the Central Bank.
The meeting was chaired by the head of the State Committee for Securities Rufat Aslanli. - 08D-
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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