An auction on placement of short-term government bonds worth 20 million manat will take place on October 18, at the Baku Stock Exchange(BSE). According to the BSE , this time the Ministry of Finance raises funds on the condition of repayment after 182 days. At a previous auction the Ministry of Finance offered investors the same volume of securities, but achieved placing more than 1million. 53.300 AZN at face value. Investors intend to buy them up to 18% per annum, but the Ministry of Finance agreed to 10.79% per annum.
T-bills are discounted. They are placed below the nominal value, and shall be redeemed at par on the expiration of their term to maturity. --08D--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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