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
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review