The State Committee for Securities on March 6 held a presentation on the application of the new regulatory system for the professional participants of the securities market.
SSC adopted in February a number of regulations to implement the activities of brokers, compiling, reporting professional participants of the securities market and the publication of annual reports in the press.
Publication of annual report of professional participants of the securities market provides amendments to the Civil Code of 6 March 2004. However, none of the 18 professional participants of the market fulfills the requirements of this legislation.
The situation is no better also with the reporting of the issuers of investment securities: annual reports are published by no more than 2% of joint stock companies. However, the SSC still has not carried out information sessions on reporting for public companies, including the organization of electronic services to receive their annual reports. - 08D-
Economics
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The Turkish company Aksa Doğalgaz, part of Kazancı Holding, has announced the completion of the contractual process to purchase the gas distribution companies Bursagaz and Kayserigaz. These companies have been operating under SOCAR Türkiye Energy AS (STEAS) since 2019, according to Aksa Doğalgaz.
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Azerbaijan's Cabinet of Ministers has introduced new regulations establishing the minimum royalties for authors of state-commissioned films, aiming to promote creative works reflecting the country's national identity and cultural values.
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Tea imports to Azerbaijan have increased. According to the State Customs Committee, from January to November 2024, tea imports grew by 3.3% year-on-year to 12,893 tons in volume and by 4.5% in value, amounting to $67.715 million.
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Azerbaijan’s State Railways (ADY) reported a 28% year-on-year increase in transit cargo volumes through the North-South International Transport Corridor (NSTC) in 2024, reaching 814,000 tonnes. This growth underscores the country’s concerted efforts to unlock the strategic potential of the corridor, which connects Northern Europe and Russia to the Indian Ocean.
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