On 18 June, the Ministry of Finance of Azerbaijan to auction treasury bills worth 3 million manat.
According to the BSE, maturity bonds, series 30 thousand AZ0101017397 nominal value of AZN 100, at 35 days, the date of maturity securities - July 23, 2013.
Allowed at the auction are Noncompetitive bids not exceeding 20% ??of the issue volume. If the total volume of orders for bonds purchase submitted by auction participants is less than 80% of the bonds offered by the issuer to the auction, the issuer has the right not to accept the application.
Placement auctions of T-bills are held on the basis of agreement between the Ministry of Finance and the BSE Agreement of 29 August 2002.
In 2013 the Ministry of Finance is planning to issue T-bills for AZN 200 million. - 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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