The fall in business activity in Azerbaijan after the sharp depreciation of the national currency in February is observed in many areas of economic activity. Not an exception is also the sector of non-investment securities where the interest of investors in many instruments has dropped.
According to the State Securities Committee, in the first ten months of this year 17 transactions on mortgage securities were registered, while in the same period of 2014 there were 25. SSC does not report on the number of the pledged securities.
Since the beginning of the year the issue of mortgage securities has fallen by 30% (1,710). The volume of issued promissory notes decreased by 20 million AZN and amounted to 9.7 million AZN.
Over the last 2-3 years no housing or deposit certificates have been issued. There are no other non-investment securities in Azerbaijan.
It should be noted that in the market of investment securities the situation is not better: the volume of transactions on shares (619.4 million AZN) decreased compared to the 10 months of 2014 by 39%, and government securities - by 97%. Progress was noted only in the segment of corporate bonds: with the index 2.7 billion AZN it grew by 3%. --- 08D
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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