State medium-term bonds (GEO) series AZ0106007351 in the amount of AZN 2 million were posted in the auction, which was held September 14 at the Baku Stock Exchange.
The total volume of the orders submitted by two investors was $ 4.4 bn at face value. The orders were granted at a price of 100.13% and 100.18% (YTM 5.00%).
Repayment of GEO will be held on September 11, 2015.
The same day, the Ministry of Finance posted on the Exchange public callable bonds (CGB) series AZ0204007378 amounting to 5.74 million manat.
The volume of the orders submitted by three bidders was exactly 5.74 bn at face value. The applications were submitted and satisfied proportionally at the price 100.00% (YTM 4.00%).
Repayment of these callable bonds will be on September 13, 2013. - 15D -
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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