In the April 19 auctions for the sale of state short-term bonds the Ministry of Finance once again provided high returns to investors.
According to the Baku Stock Exchange, a total of 6 investors were offered bonds worth 20 million AZN. At 21 requests, the investors placed 21 offers for the purchase of bonds in the amount of 38.5 million manats.
Following the auction on the bonds for a period of 1 year, the maximum yield was 15% and the average yield was 11.34%. According to the semi-annual bond, the maximum yield was 13.14%, and the average was 12.17%.
Placement of government bonds began in January of this year. Total Ministry of Finance with a view to placing domestic bonds issued bonds amounting to 400 million AZN and $ 500 million. -----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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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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