During the first three quarters of 2016 the volume of the market of corporate securities in Azerbaijan amounted to 8 billion 287 million manat, 2.6 times more than in the first nine months of last year. However, as the analysis of official data shows, the market would not increase by as much, if its main players were not government agencies.
A kind of securities market generator is the International Bank of Azerbaijan. Because of its toxic assets the stock market “revived” in H2 of 2015; the state non-bank credit organization JSC Agrarkredit issued bonds of several billion AZN under the guarantee of the Ministry of Finance, which were purchased by the Central Bank under 3% per annum.
The Financial Markets Supervision House revealed the statistics of the securities market for the first nine months of 2016. During this period, about 2,000 deals with shares were concluded for a total amount of 700 million AZN (+ 40%). The primary market for corporate bonds with a manat face value on 23 transactions amounted to 7.5 billion manat, and in foreign currency - 22 million manat. The secondary bond market due to lack of Mortgage Fund bonds in the market decreased 29-fold and amounted to a total of 64 million manat. ------08D
Economics
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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.
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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.
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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.
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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.
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