JSC Pasha Bank in the first three quarters of 2013 had a net profit of 7.21 million manat, which is 37.5 % less than the same period in 2012. The bank's earnings were equal to 54.06 million manat , expenses - 46.85 million manat, increasing respectively by 13.9 % and 30.2 %.
The assets decreased in January -September, up 7.3 % to 687.89 million manat. The volume of issued and corporations loans increased 29.6 % to 363.97 million manat.
Deposit portfolio decreased by 30.3 %, amounting to 318.32 million manat, including term client investments decreased by 36% to 123.97 million manat.
The total capital grew by 32.1 % higher than the 235.18 million manat, and the paid charter capital - by 45.2 % reaching 228 million manats. - 15B -
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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