The Baku Stock Exchange made a delisting of the securities of two banks (Deka Bank and Para Bank). This is due to the elimination of their banking licenses.
JSC Deka Bank issued shares totaling 24 million AZN and placed some of them in the amount of 4.6 million AZN. OJSC Para Bank issued and placed shares for 15 million AZN, and it was also the issuer of three corporate bond issues. CBA eliminated their licenses on 21 July this year.
As Turan was told in BSE, on today's quotation of the exchange segment "main" (premium) there are securities of two companies (OJSC International Bank of Azerbaijan and Demir Bank), as well as the Azerbaijan Mortgage Fund bonds and Treasury bonds. There are shares of state-run Azerkosmos and Agroleasing on a standard listing market, as well as JSC Turan Bank and 13 issues of bonds of 8 issuers. In circulation in the alternative market there are bonds of 20 companies and shares of 909 joint-stock companies. --08D--
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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