Volume of transactions for the year dipped half
The total turnover of transactions on all instruments at Baku Stock Exchange (BSE) in January-May of this year amounted to 2 billion 497 million 757.16 million manat, which is 47.5% less than it was in the corresponding period of the previous year.
According to the BSE, the share of government securities in the reporting period accounted for 88% of all transactions or 2.21 billion.
Reduce the volume of exchange sales partially obstructed (1,822 transactions) transactions in the corporate sector, which grew by 3.1 times and amounted to 29.22 million 291 thousand manats. The government securities market (262 operations) dipped 52.75%.
In the primary market, the volume of accommodation of Treasury bonds amounted to 28 million 538.24 thousand manats (in the same period last year, the deployments were not), the secondary market - 8 million 433.88 thousand manats (an increase of 6.3 times.)
Short-term notes of Central Bank stood at 164 million 947.43 thousand manats (- 67.93%), in the secondary market - AZN 43,955.61 thsd (an increase of 5.3 times). Operation Repo - 1 billion 960 million 852.78 thousand manats (decline of 52.7%).
The volume of placement of corporate bonds in January - May 2013 in the primary market was 57 million 167.84 thsd manat (2.2-fold increase) in the secondary market - AZN 75,199.06 thsd (an increase of 2 1 times).
In the reporting period on the exchange platform implemented placement of shares worth 154 million 70.59 thsd manat (5.2-fold increase) in the secondary market - AZN 4, 591.73 thsd (an increase of 70.51%) . - 17D-
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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