![Ministry of Finance Raises AZN 13 Million](https://turan.az/resized/./turan-750-500-resize.webp)
Ministry of Finance Raises AZN 13 Million
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
-
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.
-
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.
-
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.
-
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.
Leave a review