The National Depository Center (NDC) issued a report on the results of the first quarter. According to the information on its website (http://www.mdm.az/?lang=az&r=25&id=248), by April 1, contracts were signed with 8 new issuers for the provision of their services and custody services to keep the register. From January to April 205 new accounts were opened.
The aggregate value of the assets of companies and joint-stock companies provided services by NDC was at 16.7 billion manats. The total number of transactions from January to April was 1,290 (+ 43.6% to the first quarter last year). In monetary terms, the volume of registered transactions amounted to 598 million manats.
NDC with registered capital of 1.4 million manats was founded in September 1997, two years later transferred to the balance of the State Securities Committee, after which it was re-registered.
The center provides services to more than 1.2 thousand issuers. --17D-
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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