In September 2012 State Oil Fund of Azerbaijan Republic (SOFAR) plans to start buying shares of various foreign companies, which part part of Morgan Staneley Capital International World (MSCI) World, a source from the SOFAR told Turan.
$600 million of the Oil Fund will be invested into them. They have the right to invest up to 5% of the Fund's resoirces into the foreign shares. At the initial stage the shares will be bought by means of foreign managers: USB Global Asset Management and State Street Global Advisors.
By July 1, 2012 SOFAR assets totaled $32.66 billion.-0-
Economics
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Azerbaijan’s Information and Communication Technologies Agency (ICTA) held a meeting with representatives of internet service providers (ISPs) and telecom operators to address concerns over the accuracy of reported internet speeds and the country’s ranking in global broadband performance indices.
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Bulgaria considers Azerbaijan a key strategic partner in the energy sector, as the country plays a crucial role in diversifying gas supplies and strengthening regional energy security, Bulgaria’s newly appointed Energy Minister Jecho Stankov said during a meeting with an Azerbaijani delegation.
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Rovshan Najaf, president of Azerbaijan’s state oil company SOCAR, met with Majid Jafar, CEO of Crescent Petroleum, on February 6 to discuss potential avenues for collaboration in the energy sector. The meeting marked an important step in strengthening ties between the two companies, with both sides exchanging insights on their respective operations and assessing opportunities of mutual interest.
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Rovshan Najaf, president of the State Oil Company of Azerbaijan (SOCAR), met with Sašo Berger, chairman of Slovenian energy company Petrol dd, and Simon Urbanc, CEO of Geoplin doo, on February 6, underscoring growing cooperation in the natural gas sector between Azerbaijan and Slovenia.
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