State medium-term bonds (GEO) series AZ0105029406 for AZN 3 million posted in the auction held on November 29 at the Baku Stock Exchange.
The order volume, the only bidder, was exactly 3 mln at face value. The application was available at a price 100.00% (YTM 3.75 %).
Repayment of GEO will be held on 27 November 2015.
On the same day, there were trades on placement of bonds (GEO) series AZ0106030403.
The auction was attended by one investor with the application of 950 thousand manats. The application was less than 20 % of the set volume of bonds and the trades were declared invalid. -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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