At a November 3 meeting of the board of the State Committee for Securities decided early simplification and automation of licensing of professional participants of the securities market. This work will be carried out with the participation of the Ministry of Economy and Industry and the service ASAN Khidmet, said the agency.
Field testing of professional participants of the securities market in Azerbaijan suspended since 2014, and reporting is checked on the basis of documents submitted in an electronic manner.
We note that, under the law, professional participants of the securities market should operate only on the basis of the paying special permits (licenses) issued for a period of 5 years. With the entry into force of the law "On the Securities Market", since 2016 these licenses will be perpetual.
The SSC is said about inspections issuers of securities, which in many cases violate the rights of investors. On the basis of such complaints in the first nine months of 2015 the SSC has imposed administrative penalties against 122 JSCs totaling 152.5 thousand manats. ---- 08D
Economics
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Turkey is in talks with the United States seeking an exemption from sanctions imposed on Russia’s Gazprombank, a key financial institution for energy transactions, to maintain gas payments to Russia, Energy Minister Alparslan Bayraktar said on Tuesday.
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Kazakhstan is charting an ambitious course to transform its oil export infrastructure, aiming to increase annual shipments via the Baku-Tbilisi-Ceyhan (BTC) pipeline by more than thirteenfold—from the current 1.5 million tons to an estimated 20 million tons. The bold strategy, presented by Energy Minister Almasadam Satkaliyev during a parliamentary session, underscores Kazakhstan’s intent to become a major player in the energy supply chain stretching from Central Asia to Europe.
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Two new vice presidents have been appointed at BP's Azerbaijan, Georgia, and Turkey (AGT) region division, according to a press release from BP-Azerbaijan.
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Data on Azerbaijan's oil exports for January-October 2024 reveals a significant drop in both volume and value compared to the same period last year, highlighting the challenges facing the oil-dependent economy. The country exported 495,484.05 tons of oil products worth $309.02 million, a decrease of 40.3% in value and 40.7% in volume compared to 2023, when exports totaled 925,225.07 tons worth $572.21 million.
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