On 25 June, the Ministry of Finance of Azerbaijan will put on auction one-year government bonds callable in the amount of 12 million manat.
According to the BSE, maturity bonds, series 120 thousand AZ 0,204,005,414 nominal value of AZN 100, will be 364 days, the date of maturity securities - June 24, 2014.
Yield securities - 3.25% per annum. The term of interest payments - December 24, 2013 and June 24, 2014.
Allowed at the auction are Noncompetitive bids not exceeding 20% ??of the issue volume. If the total volume of orders for bonds purchase submitted by auction participants is less than 30% of the bonds offered by the issuer to the auction, the issuer has the right not to accept the application. - 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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