In July of this year, the National Depository Center (NDC) recorded transactions on purchase and sale of corporate securities in the amount of 1 million 658.7 thousand manat at face value, which is 60.5% less than in the comparable period of 2011.
Outside the stock exchange were concluded 24 transactions, or 33 units less than in July 2011.
NDC released a report on the operations in July this year, according to which the volume of transactions on the SEC was 63.8 million manat, and placement in the primary market - 29.1 million manat.
Azerbaijan has two depositories. LLC Corporate Trust Agency does not publish data on OTC transactions. - 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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