Auction on placement interest, secured by registered non-documentary bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of 3 million manat was held August 23, 2013 at the Baku Stock Exchange.
Ten papers were put up for sale at the current price of 100.4833%. If the claimed amount of bonds t* 3 million manat demand for them from the sole bidder was 9.95 bn at face value. The entire amount of bonds for the auction was fully invested.
Registered the issue prospectus of the Fund's bonds for a total amount of 40 million manat was registered by the State Committee for Securities on Friday. The nominal price of the bonds is equal t* 1,000 manat, the interest rate is 3% per annum and maturity date - November 6, 2022-year. At present, 100% of these emissions have been placed.
In 2009-2012 Mortgage Fund places five issues for AZN 55 million, AZN 75 million, AZN 60 million, AZN 20 million and AZN 30 million manat each. - 15D-
Economics
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BP has signed a shareholders agreement with SOCAR Green (a subsidiary of SOCAR) and the Azerbaijan Investment Company (AIC) to form a joint venture for the construction of a 240 MW solar power plant in Azerbaijan’s Jabrayil District, the company announced on Monday.
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The State Oil Company of Azerbaijan (SOCAR) and Russian energy giant Gazprom are discussing further steps to strengthen their strategic partnership in the energy sector, SOCAR announced on social media on Monday.
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Azerbaijan, known worldwide for its oil wealth, has seen its oil and gas sector contribute at least 90% of its exports, significantly shaping the country’s GDP, foreign investment, and fiscal stability. These resources have helped stabilize the national currency and ensured political and social stability. However, since oil production has been steadily declining since 2011, the country faces mounting economic challenges as it transitions into a post-oil era, notes economist Gubad Ibadoglu.
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In Azerbaijan, it is planned to calculate wages on an hourly basis instead of monthly. At the same time, according to officials' statements, salary increases are expected next year. So far, there is no official information on how much wages will increase. However, experts say that the transition to hourly wages in Azerbaijan appears very difficult and could lead to cases of abuse.
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