Today at the Baku Stock Exchange (BSE) started the placement of bonds in two issues (300,000 manats and $ 300 thousand) by JSC Finance Leasing.
As stated in the press release of the BSE, the issue in terms of equal value (AZN-USD) is divided into 600 bonds with par value of 500 manats for each security, and into 600 bonds with par value of $ 500.
Underwriter of the placement of the securities is LLC Tekhnika Capital Management. The period of placement under both emissions is more than 1,080 days with a yield of 14% per annum.
JSC Finance Leasing with a registered capital of 1 million AZN has been valid from April 2007. Its shareholders are 16 individuals. --17D
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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