In the first ten months of this year, the central depository of Azerbaijan registered transactions of purchase and sale and initial public offering of corporate securities for a total of 1,347,310,000 manats at face value, which is 84.6 % more than in the comparable period of 2012.
Growth was recorded in all segments of the market , according to a statistical report of the National Depository Center . The volume of transactions on the exchange registration for secondary trading securities amounted to 564.6 million manat. It is 2 times more than in January- October 2012.
The volume of the placement of corporate securities amounted to the beginning of the year 607.1 bn , or 45 % more than in the same period last year. According to the BSE , the basic tools of the trade in the secondary market are corporate bonds of the Azerbaijan Mortgage Fund ( AMF) , as well as commercial banks and non-banking credit organizations. Segment of the IPO securities consists entirely of the AMF bonds and securities of financial companies.
This year, rapidly growing are OTC platform shares. Since the beginning of this year, the NDC registered on the OTC market 366 transactions for a total of 175,575,300 manats, which is 4.5 times higher than in the comparable period of 2012 ( 38.6 million manat). In October, the NDC set a new record in terms of registration of sale of shares outside the stock exchange - 69.6 mln at face value. The previous record (51.6 million manat) also applies to this year (June).
Note that the NDC, despite the monopoly position in depository activities, did not disclose the amount of the issuers of securities it serves. Just this year, the center has concluded similar agreements with more than 40 companies. The names of companies are not made public. The approximate number of serviced companies is 1,500.
As of 1st November 2013, the NDC securities are held an aggregate nominal value of 9.8 billion manat. Since the beginning of this year, the documentary and non-documentary securities taken to custody increased by 55%. - 08B-
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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