The total turnover of transactions on all instruments at Baku Stock Exchange (BSE) in January-March 2013 amounted to 1,607.958 million manat, which is 40% less than it was in the corresponding period of the previous year.
According to the BSE, the share of government securities in the reporting period had 94.9% of all transactions.
The decline in exchange sales was due to the government securities market, decreased 41.9%. The turnover of transactions in the primary market of notes decreased 59.3%. The volume of repo transactions decreased 41.5%.
The corporate securities market increased 52.7%. Operations on the primary placement of bonds increased by 1.3%, while the volume of secondary transactions in bonds decreased by 11.1%. Primary market share increased 2.9 times, and secondary - 6.5 times (three-quarters of the volume of transactions in this market in the first quarter accounted for the two banks). The number of transactions in the primary market increased from 18 to 45, and the secondary - from 791 to 805. - 15D -
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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