The Listing Committee of CJSC Baku Stock Exchange (BSE) in the listing on the Stock Exchange alternative market segment added five securities companies.
The brokerage company Tekhnika Capital Management told Turan that the decision was made on the basis of the new BSE Listing Rules of the Central Bank promulgated on 1 February 2015. Under these rules, the alternative market segment includes securities of those companies that on the parameters do not meet the basic or standard listing segment. For inclusion in the alternative segment it is enough to receive an application from the owner of at least 10% of the shares in the stock exchange.
It should be noted that the inclusion of the stock market in the alternative market segment requires the issuer to submit to the BSE and make public information about the dividends paid to the JSC shareholders, and the annual financial statements (not later than 30 June after the end of the fiscal year). 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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