Central Bank of Azerbaijan (CBA) on May 29 will hold an auction on placement of short-term notes in the amount of 5 million manat.
The Baku Stock Exchange (http://bfb.az/news/2013/05/mb-not-yerlesdirme/2907), the total volume of the issue - AZN 30 million. The nominal value of each of the 300 thousand notes - 100 manats. Petition - 29 days maturity date - June 27, 2013. Registration number 50102138S.
Recall Central Bank started issuing short-term notes in September 2004 under an agreement with the Baku Stock Exchange on 5 July of the same year.
This year there will be a total issue of notes for AZN 2.5 bn. - 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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