Opaque market shares on the OTC platform continue to demonstrate strong performance. According to the National Depository Center, in November, the curb was concluded 60 transactions of purchase and sale of corporate securities in the total amount of 10 894 thousand manat, which is 7.2 million, or three times more than in October.
It is noteworthy that almost all transactions are made at the nominal value of the securities, leading to tax evasion.
Publication of daily information on OTC transactions in September 2011 assigned to the Baku Stock Exchange. However, Exchange ignores even the court decision on publication of an OTC transaction in accordance the rules approved by the State Committee for Securities. Trial court's decision to assign responsibility BSE publication OTC was upheld on appeal. But despite this manual exchange still "resists" Thus, the exchange has actually become the main obstacle transparency in the securities market in Azerbaijan. 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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