JSC Uni Bank has amended the repayment terms for the interest-bearing bonds of debt conversion released in December 2010.
The Financial Market Control House registered the changes by its letter on 6 May, the bank stated (https://disclosure.az/araclar/uploads/2016/05/Aaa1.pdf). However, the same report notes that the redemption of the bonds at the nominal value was partly carried out on April 15 of this year, i.e. before the formal approval by the supervisory authority. It is about bonds totaling $ 2.5 million on the nominal value.
The rest of the value of the bonds (22.5 million USD) will be paid on May 16 this year. In fact, the bank extended the maturity of the bonds to investors for 30 days. With the release of these bonds it was assumed that at full pay of the interest on them and their repayment they could be converted into shares. ---- 08D
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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