One of the major holdings of Azerbaijan, PASHA Holding, set up another subsidiary in June. The authorized capital of Pasha Development was paid in the amount of 16 million manat. This information is posted on the website of the Ministry of Taxes.
The investment holding was founded in November 2006. It consists of two banks, an insurance company, a tourism company, a construction company and an entertainment company. At the holding's corporate website it is noted that it is the holder of small stakes in some companies. Probably, they mean companies abroad.
PASHA Holding belongs to one of the most influential clans in Azerbaijan - the Pashayevs family. -08D-
Economics
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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