Bonds placement is beginning at the Bank of Baku. As stated in the BSE, the total volume of the issue is $ 12 million.
According to BSE, debentures of the Bank of Baku are included in the non-quotation sheet of the stock exchange.
The emission is divided into 12,000 bonds with par value of $ 1,000 per security. The placement term is 24 months and the yield is 11%. The underwriter of the placement is LLC Standard Capital.
The Bank of Baku was established in 1994 and is among the top ten banks in Azerbaijan. The shareholders are 3 legal persons and 2 individuals. - 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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