On Friday, April 24, the Azerbaijan Mortgage Fund (AMF) will hold an auction of bonds for 3 million manat.
According to the Fund, this is the third placement of bonds in the framework of the ninth issue. Total will be exhibited three thousand securities par value of 1 thousand manat. The price of each exhibited bond is 100.8417%.
In January-April AMF held 2 auctions, in which in the current issue it placed bonds of 8 million manat. The ninth bond issue (volume of 50 million AZN) was registered by the State Committee for Securities (SCS) on December 30 last year. The emission is divided into 50,000 covered bonds denominated in one thousand manat per security. The maturity of bonds is 10 years and the rate is 3% per annum.
In 2009-2014, the AMF within eight issues posted bonds totaling 340 million manat. --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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