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Azerbaijan’s mortgage fund puts up new bond tranche for auction

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By Trend

Another auction on placement of bonds of the Azerbaijan Mortgage and Credit Guarantee Fund was over at the Baku Stock Exchange (BSE) on Dec.1, Trend reports with reference to the BSE.

According to the BSE, the volume of the issue amounted to 50 million manat ($29.4 million) with a circulation period of 7,920 days.

The total amount of bids for the bonds at nominal prices also made up 50 million manat. The maturity date of the bonds is August 8, 2042.

In 2020, the total issue amount of the fund’s bonds was 250 million manat ($147.06).

As the fund’s Deputy Board Chairman Rahman Hummatov earlier said, the last placement of bonds worth 50 million manat ($29.4 million) also gives reason to believe that the fund's assets at the end of 2020 will reach 1.85 billion manat ($1.08 billion).

(1 USD = 1.7 AZN on Dec.1)

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Armenian Aggression

Body of Azerbaijani citizen killed on Turkish ship to be sent to his homeland soon – Azerbaijani Foreign Ministry

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The body of 45-year-old Azerbaijani citizen Farman Ismayilov, who died as a result of a pirate attack on a Turkish ship, is now being delivered to the Port of Port-Gentil in Gabon, Spokesperson for the Azerbaijani Foreign Ministry Leyla Abdullayeva said.

Abdullayeva was answering a question about the delivery of the body of the Azerbaijani citizen to his homeland, Trend reports with reference to the Azerbaijani Foreign Ministry.

"The appropriate measures will be taken to deliver the body of the deceased to his homeland on the basis of mutual coordination with the Turkish side," the spokesperson added. "So, the body of Ismayilov will be sent to the capital of Gabon – Libreville through the Turkish embassy in Gabon, after which it is planned to send it to Azerbaijan via Turkey on January 26 via Turkish Airlines flight."

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Expert talks promoting import of electric and hybrid vehicles to Azerbaijan

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A program for recycling old cars to renew the car fleet is planned to be implemented in Azerbaijan, Transport expert, lawyer Arshad Huseynov told Trend.

"One of the main goals of this program is to prevent damage to the environment from old vehicles. In this regard, it is important to stimulate the import of environmentally friendly hybrids and electric vehicles," said the expert.

If hybrid cars imported into the country are exempt from excise tax, customs duties, and value-added tax (VAT) is reduced, the price of these cars will drop significantly.

"There are serious customs benefits for electric vehicles. However, it would be worthwhile to abolish customs duties for a while. Currently, electric vehicles imported into the country are exempt from excise tax and VAT, but they are subject to 15-percent customs duty. But it would be better if there was not this customs duty. In this case, the import of such cars into the country would increase massively," Huseynov noted.

The expert stressed that hybrids and electric vehicles are more efficient from an environmental point of view.

"Older cars are more polluting, while hybrid and electric cars are more environmentally efficient. Many people and various government agencies are proposing to stimulate the import of hybrids and electric vehicles, especially, the Ministry of Ecology and Natural Resources also supports this initiative," added Huseynov.

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Armenian Aggression

Azerbaijan shows footage from Jomerd village of liberated Kalbajar district

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The Azerbaijani Defense Ministry has disseminated the video footage from Jomerd village of Kalbajar district after its liberation from the Armenian occupation, the ministry press service reported today.

Kalbajar was occupied by Armenian forces in 1993 and was liberated following the November 10, 2020 peace deal that stipulated the return of Azerbaijan's Kalbajar, Aghdam and Lachin regions.

Before the signing of the peace deal, Azerbaijan liberated around 300 villages, settlements, city centers as well as its historic Shusha city during the war that lasted from September 27 to November 10.

Below is the footage:

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