The Asian Development Bank plans to issue a bond in Azerbaijan. This was stated by the Bank’s Chairman Pierre Van Peteghem in Baku on May 6 during his meeting with the Chairman of the State Securities Committee, Rufat Aslanli.
According to the ADB, the Bank is closely monitoring the trend of socio-economic development in Azerbaijan and intends to contribute to the development of the securities market through the issuance and placement of bonds in the local market. To implement this initiative, the bank will cooperate with the relevant government agencies.
During the meeting, the sides discussed the participation in investing in securities of ADB from local and foreign investors, including pension funds, insurance companies, and financial institutions.
The scope and timing of the issuance and placement of bonds are not reported.
Note that in 2014, the corporate bond market in Azerbaijan tripled and amounted to about 3.5 billion manat. They are placed in the range of 3-14% per annum. -----08D
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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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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