On February 12, the Ministry of Finance placed the second shipment of short-term bonds issued in US dollar denomination.
As Turan was told in the Baku Stock Exchange, two members of the exchange submitted applications for a total of $ 16.4 million at the suggestion of $ 10 million. The securities will be redeemed on February 10 next year. The yield on the bonds will be 3.08%. The investors demanded them from 2.99 to 5% of revenue.
It is noteworthy that the auction for the sale of medium-term bonds totaling $10 million did not take place due to the low applications ($ 2 million).
The purchase of manat bonds totaling 25 million manats did not receive any offers.
In two auctions the Ministry of Finance has placed bonds for 20 million AZN and $ 22 million. Totally the Ministry issued bonds for 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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