State medium-term bonds (GEO) series AZ0106012351 at 1 million manat were placed on the auction held on November 13 at the Baku Stock Exchange.
The total volume of bids submitted by one tenderer exceeded 1.18 mln at face value. The application was available at a price 100.28% (YTM 5.00%).
Repayment of GEO will be on 13 November 2015.
On the same day, put up for auction were GEO series AZ0105011354 at the same amount. The application for them by a single investor was 1.199 mln at face value. It was presented at a price of 100.18% with yield of 4%. Repayment of these GEO will be on 14 November 2015.
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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