Auction on placement interest, secured by registered non-documentary bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of AZN 5 million took place May 13, 2013 at the Baku Stock Exchange.
Ten papers were put up for sale at the current price of 101.1333%. If the claimed amount of bonds was AZN 5 million, demand for them on the part of the two bidders exceeded 5.19 mln 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 to 1,000 manat, the interest rate is 3% per annum and maturity date - November 6, 2022-year. On today placed 47.5% (AZN 19 million) from this issue.
In 2009-2012 Mortgage Fund placed 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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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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