![Secondary stock market dipped](https://turan.az/resized/media/2014/main/071200084006-750-500-resize.webp)
In the first half of this year, the volume of secondary market shares in Azerbaijan totaled 16.2 million manat, which is 85% less than for the same period in 2013. While only 13% of the turnover of the secondary market shares accounted for exchange transactions.
State Securities Committee unveiled the mid-year report on the state of the securities market, according to which the opaque operations on shares still prevail over the exchange transaction. While the World Bank within the framework of the project "Modernization of the capital market," sent $302,600 as loan to reduce OTC transactions. It looks like SSC and professional market participants cannot cope with investors who prefer narrow cabinets of notaries to the bright exchange platform.
According to the SSC, in January-June 2014 the OTC stock turnover amounted to 14.1 million manat. Outside the exchange 285 transactions were concluded, which is 10.8% more than in the comparable period of 2013.
Despite the existence of regulatory requirements, information on OTC transactions has not been disclosed since March 2012. In most cases one of the parties to such transactions is an insider (holder of more than 10% of the shares, a member of the Supervisory Council or the Board). - 08B-
Economics
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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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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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