Placing interest, secured by registered non-documentary bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of AZN 5 million will begin October 14, 2013 at the Baku Stock Exchange.
According to the fund, the sale of the bonds will be conducted by public subscription. Ten-year securities will be offered for sale at the current price of 100 %. In case demand exceeds supply, all orders will be filled proportionally. In the initial organizer of the bonds placement will be the Central Bank , in which the AIF operates .
Registered the issue prospectus of the Fund's bonds for a total amount of 20 million manat was registered by the State Securities Committee at the end of September 2013 . The nominal price of the bonds is equal to 1,000 manat , the interest rate is 3 % per annum and maturity date - August 23, 2023 -year. This is the first batch for sale of this issue.
In 2009-2013, Mortgage Fund places five issues for AZN 55 million, 75 million manat , 60 million manta, AZN 20 million, 30 million and 40 million manat each. -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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