Placement of interest, non-documentary registered secured bonds of Azerbaijan Mortgage Fund (AMF) in the amount of AZN 5 million to begin December 29, 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 100.6333 %. In case demand exceeds supply, all orders will be filled proportionally. In the initial organizer of placement will serve the Central Bank, in which the AIF operates.
Prospectus for the registered bonds of the fund totaling 20 million manat was registered by the State Committee for Securities at the end of September 2013. Face value of bonds equals 1,000 manats , the interest rate of 3% per annum and the maturity date - August 23, 2023 year. Today announced that serves three-quarters of the emission.
In 2009-2013, Mortgage Fund places five issues for AZN 55 million, AZN 75 million, AZN 60 million, AZN 20 million, AZN 30 million and AZN 40 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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