JSC International Bank of Azerbaijan has closed credit debts of the servicemen who became martyrs as a result of operations to prevent provocations by the Armenian armed forces in early April.
According to the information on the bank's website, inspection and closing of the debts were based on personal references from the martyrs' families, according to its affiliates.
The staff of IBA brought condolences to the families of martyrs who died in the struggle for independence and territorial integrity of Azerbaijan and wished the wounded a speedy recovery and return to the service of the motherland.
OJSC International Bank of Azerbaijan with a capital of 1 billion 141.3 million AZN has operated under the license of the Central Bank of Azerbaijan since 1992. Its main shareholder (51.07%) is the Government of Azerbaijan, represented by the Ministry of Finance, and the remaining 48.93% is owned by numerous minority shareholders.-- 17D-
Economics
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Elon Musk, co-chair of the U.S. Department of Government Efficiency (DOGE), has outlined a strategy to bring inflation in the United States down to zero by 2026 through aggressive cuts in federal spending. Musk’s plan, which aims to reduce approximately $4 billion in projected daily expenditures, is designed to shrink the federal deficit to $1 trillion by 2026. While the deficit would still be substantial, Musk argues that accelerated economic growth could offset inflationary pressures, ultimately stabilizing the economy.
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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