The British magazine The Banker has included the International Bank of Azerbaijan (IBA) in the list of 1,000 most powerful and sustainable banks in the world.
According to the ranking, the IBA is among TOP-25 of the best banks within the Central and Eastern Europe region based on assets volume, capital adequacy, ROA and ROE. “The Banker” also mentions that the country for the first time entered this regional TOP-25 ranking, along with Banca Transilvania and Bank of Georgia. IBA also ranked 4th in the Central and Eastern Europe region by Tier 1 Capital growth.
Note that on the results of 2015 IBA’s unallocated loss reached 744.7 million AZN. Over the past year the bank's assets increased due to the state aid by 48% and reached 13 billion 657 million AZN. This year, the bank did not disclose the financial statements. --08D-
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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