LLC Respublika Invest did not extend the period of its broker-dealer license to operate in the securities market that ended in September.
A functionary in JSC Bank Respublika, which is the sole founder of LLC Respublika Invest, told Turan that from now on, in compliance with the law, securities transactions will be performed by the bank.
LLC Respublika Invest operated from September 24, 2007. The company owns 5.55% of shares of Baku Stock Exchange closed-type JSC. In the stock market, the company mostly worked with corporate clients in deals with government and corporate debt securities, as well as in the primary and secondary stock market.
Azerbaijan has 14 active licenses for brokerage and 13 licenses for dealer activities in the securities market. - 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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