JSC Turanbank in the first seven months of 2012 had a net profit before tax of 2.1 million manat, which is 12.5% ??less than the figure recorded a year earlier. The earnings were equal to 12.7 million manat and the expenditures were 10.6 million manat, increasing by 18.7% and 27.7%.
The assets increased in January-July by 9.3% to 189.5 million manat. The volume of issued and corporate loans grew by 21.9% and amounted to 148.2 million manat.
The deposit portfolio increased by 11.6% to 82.3 million manat, of which 51.5 million manat fell on urgent investments of the population.
The aggregate capital increased by 2.7% to 26.7 million manat, and the paid charter capital grew by 8.2% to 23.8 million manat. - 15B -
Economics
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The first Russian-Iranian joint LNG plant is planned to be built in the Chelyabinsk region by 2027, as reported by Nikolai Isakov, Vice President and Executive Director of the Russian Gas Society. The joint venture will be developed by Kriogaz Chelyabinsk (Russia) and North-South Corridor Development Group (Iran).
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The Southern Gas Corridor (SGC) will expand by at least 1.2 billion cubic meters per year starting from January 2026, thanks to the capacity increase of its European segment, the Trans Adriatic Pipeline (TAP). By this time, the potential for transporting a blend of hydrogen with other low-carbon gases through TAP is expected to become clearer.
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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