On the Baku Stock Exchange (BSE) today started offering bonds of local non-banking credit organization FinEx Credit. The total value of the deal is $ 450 thousand. It's not the first placement of securities in recent years - in November last year BSE recorded the start of an issue twice as less.
The current issue includes 900 bonds with par value of $ 500. Term placement of bonds is 3 years at a rate is 14% per annum.
Payment of interest on the bonds will be held on a quarterly basis. Placement of the bonds will be held by public subscription.
NBCO FinEx Credit received a license from the Central Bank September 18, 2013 and in one month started to core activities. Its shareholders are one legal and two physical entities. --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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