In the first half of this year, the State Committee for Securities registered 22 transactions on mortgage securities. Compared with the first half of last year, the Register of mortgage securities included data on 28 mortgage operations fewer.
According to the SSC, the situation with the pledge of securities deteriorated. 17 additional registrations of mortgage contracts were carried out (+14 compared to the six months of 2012), which is produced mainly as a result of the transition to another person of the claim secured by the pledge, and the alienation of the collateral to the condition of preservation of the collateral.
It is noteworthy that the pledge and the arrest of the securities in Azerbaijan carried out without the knowledge of their owners. Based on the available information from Turan, a district court of Baku on what that fact has seized 100% of shares of Khatai Tikinti Mekhanizasiya, which is contrary to the law, causing that its shareholders can not exercise any of the operations on them. - 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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