On November 8 at Baku Stock Exchange the Ministry of Finance placed bonds in the amount of 15 million manat, with the circulation period of 364 days.
According to BSE, 6 investors filed 13 applications for a total amount of 34 million manat. As a result of the auction, bonds with par value of AZN 100 were sold at a weighted average price of AZN 87.07. In other words, their yield will be 14.97% per annum.
According to the last (25 October) auction, investors will receive a yield of 15.03% per annum.
Note that T-bills are discounted. Bonds for 15 million manat were placed. The Ministry of Finance raised AZN 13 million 71.3 thousand. At the end of the year, investors will get back their 15 million manat. ----08D
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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