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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The monopolists of the Azerbaijani internet services market, LLC Aztelekom and LLC Baktelekom, have agreed to raise the minimum monthly internet package price from 18 AZN for 40 Mbps to 25 AZN for 100 Mbps starting August 15. Explaining the new price, these companies want to convince the public that the price has dropped since the internet speed will increase by 2.5 times, thus reducing the cost per Mbps from 45 qapik to 25 qapik. There is no information about the technical innovations in the company that will ensure high traffic speed.
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The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has reported a 3.3% increase in its gold investments compared to last year, according to the fund's investment activity results for the second quarter of 2024. Gold investments now account for $8.57 billion, or 14.8% of SOFAZ's US Dollar Portfolio.
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Azerbaijan's Minister of Digital Development and Transport, Rashad Nabiyev, announced on the social network "X" that during the visit of Israel's Minister of Regional Cooperation, David Amsalem, to Azerbaijan, discussions were held on cooperation in innovation, space, and aviation.
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Azerbaijan is bracing for heightened expectations of currency devaluation as declining oil revenues and mounting inflationary pressures fuel concerns over economic stability, experts warn.
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