
LARGEST STATE BANKS OF AZERBAIJAN AND RUSSIA TO COOPERATE
The largest banks of Azerbaijan and Russia, whose shares in the national banking systems are 44% and 27% respectively, also plan to cooperate in the realty markets" development and investment programs. The sides will focus on analyzing the organizational and financial schemes in public and private partnership projects and on the joint research of macroeconomic, juridical and financial-crediting data.
The IBA and Sberbank are lending agencies with public shares dominating in the capital. --10D--
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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