BSE concluded with JSC "Pasha Bank" a contract for the provision of services second market maker on the organized securities market. This is the first agreement of exchange with the participants of the securities market for the implementation of such services.
According to this agreement, "Pasha Bank" will provide daily quotations on bonds issued by five issuers: AMF, "Unibank", "Unileasing", "Bakcell LLC" and "Bank of Baku". On the first tool daily volume offers for the purchase will make 1.5 mln at face value at price range of 3%. On other bonds daily volume purchase commitment is 200 manats (price range of 5%).
The market maker provides daily quotations for the purchase of securities. Quotes are posted on the BSE in real time. - 08D-
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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