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Report of BSE for January-February
During the first two months of this year, the total turnover of transactions on all instruments on Baku Stock Exchange (BSE) amounted to 3 billion 824 million 311.41 thousand manat (+ 19% by March 1 of last year ).
According to the BSE, in the total amount of transactions the largest share was at the new market of derivatives - 3 billion 297,120,000 manat (last year it was not available), of which the share of transactions with currency was 3.23 billion, and deals with goods were 62 million 379.27 thousand manat.
Oddly enough, the share of transactions in government securities is falling (14 million 914.88 thousand manat or minus 51.1%), all of which included the placement of bonds in the secondary market, issued by the Ministry of Finance (increased 2.7 times) .
The share of debt securities market in the total volume of transactions in January and February was 452 million 175.14 thousand manat (+ 67.2%). In this case, there was 40% reduction in the volume of bonds of Azerbaijan Mortgage Fund on the primary market - 3 million, but in the secondary market it was 372 million 960.26 thousand manat (+ 61.7%).
With regard to repo operations, they amounted to 38 million 104.87 thousand manat, which is not comparable with the result of last year, when as of March 1, they were at the level of 2 billion 699,840,000 manat. --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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