On October 25, the Ministry of Finance places bonds in a total amount of AZN 27 million at Baku Stock Exchange.
According to BSE, bonds worth AZN 10 million will be placed for a period of 364 days and those in the amount of AZN 17 million – for 182 days.
The Ministry of Finance has appointed the underwriter – the investment company JSC Pasha Capital.
On the latest auction of October 11 the yield of 364-day bonds amounted to 14.97%, and on October 18th the yield of 182-day bonds was 17.1%.
As of October 1, the Finance Ministry gained AZN 261,429,316 from the sale of T-bills. -----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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