Baku Stock Exchange on July 9 starts placement of unsecured interest-bearing book-entry bonds of non-bank credit organization, LLC Visa Credit.
The State Committee for Securities registered in the beginning of last week the issue prospectus of Visa Credit at 500 thousand manat.
The nominal value of one bond is 1 AZN, the term is 5 years, and the annual interest rate is 12%. Underwriter of the securities is LLC Tekhnika Capital Management.
Visa Credit has been in effect on the financial market since October 2011. At the beginning of this year, the credit portfolio of the organization was at 606.3 thousand manat. - 15D -
Economics
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BP, the operator of the Shah Deniz gas condensate field, announced on Sunday that production from the Shah Deniz Alpha platform resumed on the evening of January 18. This followed the complete resolution of a technical issue with the subsea condensate export pipeline between the Shah Deniz Alpha platform and the Sangachal terminal.
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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