CJSC National Depository Center is canceled and according to the law of AR "On securities market" will continue to act as a non-profit organization. The relevant proposals are presented by the State Securities Committee of the State Committee on Property, according to NDC board.
In line with the law that came into effect on 15 July this year, the licenses for clearing and depository activities are suspended. All structures that act as depository transfer securities held by them to NDC. Registers of securities holders as from 15 September are to be transferred to the NDC, which acts as a central depository in Azerbaijan. Member of the Central Depository will investment companies and depositories of investment funds.
Professional participants of the securities market should bring their organizational structure to meeting the new requirements.
Register of notary transactions on securities will be automated and the information about these transactions will be transmitted electronically to the NDC. --08B
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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