 |
Baku, Fineko/abc.az. State Oil Fund of Azerbaijan (SOFAZ) has chosen a place for temporary gold storage purchased at London ferrous metals stock exchange.
SOFAZ reports that London stock of JP Morgan bank is used on the basis of experience to minimize expenses for this purpose.
Investment policy for 2012 enables SOFAZ to keep up to 5% of its investment portfolio in gold. During 2 years the Fund is planning to accumulate up to 30 tons of gold. SOFAZ started buying physical gold from 1 February 2012 and by 1 July accumulated 6.847 tons of gold (220.146 ounces) for $343,14 million. By the end of the year gold reserves will reach 240.000 ounces ( 7.5 tons).
By 1 July the Fund’s assets made $32.665 bn- $32.56 bn in investment portfolio and $75,45 million in Azerbaijani mantas out of investment portfolio.
24.07.2012 12:07
- IMF: expansive fiscal policy in Azerbaijan reduces regional balance of current operations
- AccessBank joins card promo-action
- Amrahbank launches campaign for pay card holders
- Payment card of pure gold, inlaid with diamonds, released in Azerbaijan
- A credit card can be received easier from Bank Standard
- Azerbaijan’s risks in participation in SPO of Russian VTB Bank recognized higher
- Bank Standard guarantees gifts with purchase of its pay cards
- Azerbaijan cuts gold production by 14% and overall extraction of precious metals by 12%
- BP to use 20th exhibition Caspian Oil & Gas for familiarizing potential contractors with its demands
- Bloomberg, a monopolist on interbank foreign exchange operations in Azerbaijan, fails to meet requirements of country’s laws
Link for FINEKO Analytic & Informational Agency and ABC.AZ is obliged using the websites material.
| Baku | |||
|
|
||
| Gandja | |||
|
|
||
| Sumgayit | |||
|
|
||
| Guba | |||
|
|
||
| Lenkoran | |||
|
|
||
| Nakhichivan | |||
 |
|
||