OJSC Unibank has signed an agreement with the well-known German Investment Corporation DEG to extend the life of subordinate loan of $ 15 million. The agreement between the parties on the Subordinated debentures was signed in April 2008. As reported in the bank, the document on the extension of the agreement signed by the Chairman of the Board of Unibank Faig Huseynov and member of the Management Board of DEG Philip Creutz.
Since 2005, the DEG has been one of the shareholders of Unibank and owns a 8.33% stake. - 15D -
Economics
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The black boxes from the AZAL aircraft have been returned to Kazakhstan from Brazil and handed over to the investigation commission for analysis of the aviation accident that occurred near Aktau Airport on December 25, Kazakhstan's General Prosecutor's Office reported.
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The Baku International Sea Trade Port, a critical link in the Middle Corridor connecting East and West, handled 7.6 million tons of cargo in 2024, marking a 3.2% increase from the previous year. This growth underscores the port's expanding role in global trade and its significance as a transit hub for countries such as China, Turkey, Georgia, Iran, and Russia.
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Azerbaijan’s state oil company SOCAR has acquired a 3% stake in the offshore SARB and Umm Lulu concession in the United Arab Emirates (UAE) from Abu Dhabi National Oil Company (ADNOC) for $285 million, marking a significant step in deepening energy ties between the two nations. The transaction, completed in May 2024, was completed in January 2025.
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The Baku Small and Medium Business (SME) House and the Miniboss Business School have signed a memorandum of understanding aimed at developing entrepreneurial skills among children, the Small and Medium Business Development Agency (KOBIA) reported on Monday.
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