Activity on the OTC market for corporate securities in Azerbaijan, "flared up" in December 2012, and continued in March. According to BSE, in March outside the stock exchange were recorded transactions on purchase and sale of 100 thousand shares for a total contractual value of about 8.5 million manat.
Volume of OTC transactions in March exceeded exchange secondary share turnover by 3.4 times. According to the BSE, the major part of the turnover of OTC trades (8.3 mln) accounted for Central financial institutions. As things stand and exchange platform.
According to the reported BSE data depositories, for the three months of this year the volume of OTC securities amounted to 72.5 million manat.
Unlike the stock exchange, OTC securities from March 2012 is not clear, and therefore, it is unknown what the stock is traded on the platform. State program of development of the securities market in 2011-2020 seeks to ensure transparency of the OTC market.
Therefore, in August 2012 there was adopted a normative act of the State Committee for Securities. However, the BSE ignores this document. - 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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