Placement of interest , non-documentary registered secured bonds of Azerbaijan Mortgage Fund (AMF) in the amount of AZN 5 million to begin December 2, 2013 on BSE .
According to the fund , the sale of the bonds will be conducted by public subscription . Ten papers will be offered for sale at the current price of 100.4083 %. In case demand exceeds supply, all orders will be filled proportionally. In the initial organizer of placement will serve the Central Bank, under which AIF operates.
Prospectus of the registered bonds fund totaling $ 20 million manat was registered by the State Committee for Securities at the end of September 2013. Face value of the bonds equals 1,000 manats, the interest rate is 3% per annum and the maturity date is August 23, 2023. Today they have served half the emission.
In 2009-2013, Mortgage Fund places five issues for AZN 55 million, 75 million, 60 million, 20 million, 30 million and 40 million 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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