Category: Azer News

The Organization of the Petroleum Exporting Countries (OPEC) predicted in its monthly report for July, published on Monday, that global oil demand will grow by 1.9 million barrels per day (bpd) year-on-year in 2027, AzerNEWS reports.

The group also projected that the 2026 figure will reach 800,000 bpd. In the previous report, the numbers sat at 1.73 million bpd for 2027 and 970,000 bpd for 2026.

The report forecast that demand within the Organization for Economic Co-operation and Development (OECD) will rise by 40,000 bpd in 2026 and 300,000 bpd in 2027. Outside the group, demand was predicted to go up by 740,000 bpd in 2026 and 1.7 million bpd in 2027.

Germany’s upper house of parliament, the Bundesrat, has advanced draft legislation that would make the public denial of Israel’s right to exist a criminal offense, AzerNEWS reports.

The proposed legislation has now been forwarded to the Bundestag, Germany’s lower house of parliament, where it must complete the legislative process before it can become law.

Under the proposal, anyone who publicly or at a gathering denies the right of the State of Israel to exist, or calls for its elimination, would face punishment. In legal terms, this means Germany is expanding Section 130 StGB (its criminal code) beyond Holocaust denial to include existential denial of Israel.

If adopted in its current form, the offense would carry a maximum prison sentence of up to five years.

According to the bill’s justification, existing criminal provisions (such as incitement of hatred, approval of criminal acts, or the use of symbols of terrorist organizations) currently apply only in individual cases and are insufficient.

Former members of the Wagner Group have established a lucrative drug trafficking network in the upper Ubangi River basin of the Central African Republic (CAR), according to a report by The Wall Street Journal citing sources familiar with the matter, AzerNEWS reports.

The newspaper reported that the group is operating independently of the Kremlin and that local law enforcement authorities have been unable to curb its activities. According to the report, the former Wagner contingent is currently led by Pavel Prigozhin, the son of the late Wagner founder Yevgeny Prigozhin.

According to the report, the group’s primary source of income has become the illegal trade in tramadol, an opioid painkiller sometimes referred to as the “cocaine of the poor.” The Wall Street Journal said the group distributes tramadol tablets with doses increased to 200 milligrams, compared with standard medical doses of 50-100 milligrams.

The report alleges that tramadol manufactured in India is smuggled through the Democratic Republic of the Congo into the Central African Republic before being distributed to neighboring countries.

The newspaper said the operation is overseen by approximately 500 former Wagner fighters who remained in the Central African Republic following Yevgeny Prigozhin’s death in a plane crash in 2023.

The Africa Center for Strategic Studies has previously claimed that Wagner has established de facto control over parts of the Central African Republic, alleging that the group has infiltrated the country’s military and local armed factions. According to the organization, Wagner’s influence has grown to the point that it has allegedly supplied tramadol even to members of the presidential guard.

The claims reported by The Wall Street Journal have not been independently verified.

Apple has filed a lawsuit against OpenAI, accusing the artificial intelligence company of misappropriating trade secrets and confidential information to support the development of its hardware business, AzerNEWS reports.

According to the lawsuit, filed in the U.S. District Court for the Northern District of California, Apple alleges that the theft of its proprietary information was part of a “coordinated pattern of misconduct” involving former Apple employees who later joined OpenAI. The complaint also names former Apple executives Tang Tan and Chang Liu as defendants.

Apple claims that OpenAI improperly used its intellectual property and confidential data, alleging that prospective Apple employees considering a move to OpenAI were encouraged to disclose trade secrets and confidential information during the recruitment process. The company also alleges that candidates were asked to bring information or materials related to unreleased Apple products and technologies to interviews.

OpenAI has denied the allegations.

“We have no interest in other companies’ trade secrets,” an OpenAI spokesperson said, adding that the company remains focused on developing innovative technology.

The State of Palestine has condemned the recent Iranian attacks targeting the sovereignty, security and stability of several Arab countries, expressing solidarity with the affected states, AzerNEWS reports.

In a statement issued on Sunday, the Palestinian presidency rejected the attacks directed at Qatar, Oman, Kuwait, United Arab Emirates, Bahrain and Jordan.

The statement affirmed Palestine’s “support and full solidarity” with the targeted Arab countries in confronting what it described as acts of aggression aimed at undermining their security, sovereignty and stability.

The Palestinian presidency also expressed full support for the policies and measures adopted by the affected states to protect their populations, preserve national security and maintain their sovereignty.

In addition, the statement renewed Palestine’s call for dialogue as the primary means of resolving regional disputes, stressing that solutions should be pursued in accordance with international law.

The United Nations Children’s Fund (UNICEF) has warned that around 500,000 civilians are at risk in El-Obeid, the capital of Sudan’s North Kordofan state, as intensifying fighting forces families and children to flee, AzerNEWS reports via UNICEF.

In a statement posted on Saturday, UNICEF said the escalating violence was driving widespread displacement and placing children in increasing danger.

“Intensified fighting in El-Obeid, Sudan, is forcing children and families to be displaced and seek refuge,” the agency said, warning that “500,000 civilians are at risk, with children in immediate and growing danger of being killed, injured, displaced, or exposed to other grave violations.”

UNICEF called for an immediate de-escalation, stressing that “further escalations must be prevented for children’s safety.”

El-Obeid was once home to around 500,000 people, but unofficial estimates suggest its population has swelled to nearly three million as it has become a major refuge for people displaced by the conflict elsewhere in Sudan.

The warning comes days after the UN Human Rights Council ordered an urgent investigation into alleged violations and abuses in El-Obeid, citing the imminent risk of large-scale atrocities.

For the past month, the city has reportedly come under repeated drone attacks by the paramilitary Rapid Support Forces (RSF), which have targeted the main power station, fuel facilities and other civilian infrastructure, leaving dozens of people dead or injured.

In May, the UN warned of a sharp increase in drone attacks across the Kordofan region, saying at least 880 civilians had been killed between January and April.

North, West and South Kordofan have witnessed fierce clashes between the Sudanese Armed Forces and the RSF since last October. Sudan has been engulfed in conflict since April 2023, when fighting erupted over plans to integrate the RSF into the national military. The war has since killed tens of thousands of people and displaced an estimated 13 million, creating one of the world’s worst humanitarian crises.

Six Americans were killed in an Iranian drone attack on Kuwait during the second day of the Iran-Iraq conflict after military commanders allegedly failed to act on warnings that the targeted facility was vulnerable, AzerNEWS reports via The Washington Post.

The newspaper reported that the March 1 drone strike on the industrial port of Shuaiba Port triggered a deadly fire at a U.S. command center, killing six American personnel.

According to The Washington Post, interviews with 17 witnesses, including survivors of the attack, indicate that the facility’s two commanders allegedly ignored intelligence warnings that the port was a likely target for an Iranian strike.

The report also claims that the command center lacked adequate defenses against drone attacks.

Soldiers injured in the strike reportedly voiced frustration with the U.S. military’s healthcare system and its response to the incident.

According to the newspaper, the attack is considered one of the deadliest and most costly incidents for the U.S. military and the administration of President Donald Trump since the outbreak of the conflict.

The allegations published by The Washington Post have not been independently verified, and no official response from the U.S. military was included in the report.

The United States Embassy has urged American citizens in Bahrain to avoid large gatherings and areas with a heightened security presence and to take shelter immediately upon activation of sirens as air raid sirens sound all over the country, AzerNEWS reports.

The embassy also delayed its opening until 10:00 am local time.

Furthermore, Fars News reported thick smoke rising from the US Navy’s Fifth Fleet headquarters in the country after earlier Iranian missile attacks.

US forces renewed their shelling of cities in southern Iran, targeting Mahshahr in Khuzestan province and Kangan.

Simultaneously, Iranian media said strong explosions shook Kuwait, amid still unverified information of the start of Iranian retaliatory attacks on US bases in the region. In Bahrain, the authorities said air alarms were activated, urging citizens to seek safety.

For emerging economies, particularly those structurally tied to energy exports, the management of external liabilities serves as a primary litmus test for long-term fiscal sustainability. It is within this context that Azerbaijan’s recent fiscal trajectory demands careful analysis. As reported by the State Statistics Committee, Azerbaijan’s external public debt descended to $4.6168 billion as of July 1, 2026. This reflects a commendable 7.9% year-on-year decline, down from approximately $5.0128 billion twelve months prior. By systematically retiring nearly $396 million in foreign liabilities over a single year, the Azerbaijani government is not merely executing a balance-sheet adjustment; it is actively securing a strategic macroeconomic dividend that will resonate across its domestic economy for decades to come.

To truly appreciate the value of this aggressive deleveraging strategy, one must understand the multifaceted vulnerabilities inherent to external debt. When a nation borrows extensively in foreign currencies, such as the United States dollar or the Euro, it exposes its structural integrity to external shocks beyond its control. Fluctuations in international interest rates, tightening global liquidity, and domestic currency depreciation can exponentially inflate the real cost of servicing foreign debt. By aggressively driving down its absolute debt stock, Azerbaijan systematically immunizes its public finances against these external systemic contagions. This proactive reduction in foreign currency liabilities provides a formidable buffer, ensuring that national financial planning remains driven by domestic developmental priorities rather than volatile international debt obligations.

Furthermore, the most immediate and quantifiable consequence of this debt reduction is the dramatic optimization of state budgetary allocations. Every dollar that is borrowed externally carries an ongoing price tag in the form of interest payments. For many developing nations, debt servicing functions as a persistent fiscal drain, cannibalizing vital capital that could otherwise fund domestic growth. As Azerbaijan minimizes its external obligations, it simultaneously curtails the volume of capital leaking out of the country to foreign creditors. The financial capital preserved through lowered interest obligations transforms directly into a fiscal surplus that can be productively reinvested at home. These freed-up public funds can be strategically deployed into high-yield domestic sectors: upgrading transport infrastructure, modernizing the healthcare framework, funding advanced education, and strengthening the social safety net. In essence, paying off foreign lenders today directly expands the economic sovereignty and financial capacity of the state tomorrow.

Beyond immediate budgetary relief, the systematic contraction of external debt acts as a powerful catalyst for institutional investor confidence and sovereign prestige. Global capital markets and credit rating agencies closely monitor a nation’s debt-to-GDP ratio and its trajectory of external liabilities. Azerbaijan’s consistent commitment to lowering its debt profile sends an unambiguous signal to international markets regarding its fiscal discipline and macroeconomic maturity. This deliberate deleveraging bolsters the country’s sovereign credit ratings, positioning it as an island of stability in a turbulent regional environment. Higher creditworthiness reduces the cost of capital across the entire economy. Should the government or prominent domestic enterprises require external financing in the future for large-scale industrial or green-energy transitions, they will be able to secure these funds at significantly more favorable interest rates. Thus, reducing debt today establishes a foundation for cheaper, more sustainable financing in the future.

Simultaneously, this fiscal policy acts as a crucial anchor for domestic monetary stability, specifically supporting the stability of the national currency, the Azerbaijani Manat. Servicing external debt requires the steady outflow of foreign exchange reserves. When external debt pressures are high, a central bank faces constant pressure to liquidate foreign assets to meet these obligations, which can imperil the domestic currency’s exchange rate. Azerbaijan’s strategy reduces this structural demand for foreign currency, allowing the Central Bank to preserve and accumulate robust foreign exchange reserves. A heavily fortified reserve position enhances the central bank’s capacity to absorb speculative shocks, maintain exchange rate predictability, and anchor domestic inflation. For businesses and consumers alike, a stable currency mitigates transaction risks, stimulates domestic demand, and fosters a predictable environment conducive to long-term private capital investments.

Finally, the philosophical dimension of Azerbaijan’s fiscal strategy centers on intergenerational equity and sustainable diversification. Over-reliance on foreign debt often shifts the economic burden of contemporary spending onto future generations of taxpayers. By aggressively retiring debt during periods of fiscal viability, the current administration ensures that future generations inherit a lean, agile, and unburdened sovereign balance sheet. This structural agility is vital as Azerbaijan aggressively pursues its non-oil economic diversification strategy. An unburdened economy possesses the fiscal space required to experiment, innovate, and subsidize emerging sectors like digital technology, logistics, and agriculture without the constant fear of a debt crisis.

In conclusion, the marginal slowing of the debt reduction pace by a fraction of a percentage point between June and July 2026 does nothing to obscure the grander narrative. The overriding trajectory remains clear, purposeful, and profoundly beneficial. Azerbaijan’s systematic dismantling of its external public debt represents a masterclass in forward-thinking macroeconomic stewardship. By insulating the nation from currency risks, optimizing the national budget for internal development, lowering the cost of future capital, and securing intergenerational equity, this strategy does not merely protect existing wealth-it builds a bulletproof foundation for the country’s future prosperity.

The transition from a Soviet command economy to a modern market system is rarely a linear journey, often marked by a heavy reliance on state mechanisms and traditional banking. For decades, the Republic of Azerbaijan followed a predictable post-Soviet financial trajectory, where citizens stored their wealth in standard savings accounts or physical real estate, viewing the concept of a stock market as a distant, foreign abstraction. However, a quiet yet profound financial revolution is currently unfolding in Baku. The recent milestone of PASHA Bank successfully executing its Initial Public Offering and subsequently distributing its first dividends represents a historic watershed moment. While such an announcement might be mundane news in developed Western capitals, for a market with a historically fragile financial infrastructure, it signals the birth of a genuine domestic investment culture.

To appreciate the significance of this shift, one must look at the current state of the Baku Stock Exchange. By global standards, the domestic exchange is in its absolute infancy, pale in comparison to the monolithic structures of Wall Street, the Frankfurt Stock Exchange, or even Istanbul’s Borsa Istanbul. Historically, the local trading volume has been dominated by institutional players, large commercial banks, and investment firms engaging primarily in repo operations. The average citizen remained an outsider to this ecosystem. However, just as the local population was beginning to familiarize itself with the concept of corporate and state bonds, forward-thinking institutional entities began taking the leap into public listings. Currently, with prominent banking institutions having paved the way through successful IPOs and rumors circulating about another major company preparing to enter the public arena in the coming years, the structural landscape is shifting.

What makes the Azerbaijani stock market uniquely compelling at this juncture is the extraordinary financial generosity it offers to early participants. The dividend policies of these newly public institutions are nothing short of spectacular when compared to global averages. The nation’s largest financial institutions boast annual dividend payouts exceeding over ten to fifteen percent. When paired with corporate bonds that offer coupon rates between averagely fifteen and eighteen percent, the Baku Stock Exchange presents a high-yield environment that is virtually non-existent in saturated Western markets. Furthermore, the macroeconomic environment adds an extra layer of security. The Azerbaijani manat remains strictly pegged and stable against the United States dollar, eliminating the grueling currency devaluation risks that plague other emerging markets. Crucially, the state has implemented a highly progressive tax policy, exempting both dividend payouts and bond coupon incomes from taxation until early 2028. This creates a pristine, high-return haven for long-term retail investors.

The societal implications of this growing capital market extend far beyond mere corporate balance sheets; they offer a structural solution to the looming global pension crisis. Across the developed world, from Germany to Japan, traditional state-funded pension systems are collapsing under the weight of declining birth rates and aging populations. The classic pay-as-you-go model, which relies on taxing current workers to fund current retirees, is mathematically unsustainable. In nations like Turkey, back in the mid-20th century, the demographic pyramid allowed for a highly comfortable ratio of around thirteen active workers supporting a single retiree. Today, that luxury has vanished, and the active-to-passive ratio has plummeted dramatically below two, a terrifying reality that Western Europe faces even more acutely. The United States provides a clear blueprint for survival through its reliance on public markets. By utilizing private and state pension funds to invest directly in equities and bonds, citizens can secure self-sustaining wealth. The democratization of the Azerbaijani stock market allows everyday salaried employees to buy shares for very accessible amounts, or bonds starting around thirty to sixty dollars. This low barrier to entry empowers the working class to generate consistent passive income, creating a secondary safety net for their retirement years independent of state dependency.

Beyond demographic and financial mathematics, the expansion of the public equity market addresses a profound cultural and religious dilemma faced by a significant segment of the population. For devout individuals, the concept of earning fixed interest is strictly prohibited across various religious doctrines, particularly in Islamic finance. This has historically left conservative, small-scale investors in a grueling predicament. Depositing cash in traditional banks or purchasing conventional bonds feels morally compromised, yet leaving hard-earned savings under a mattress means watching inflation slowly erode their purchasing power. For decades, physical gold was the only socially acceptable alternative, but gold is a static asset that generates zero cash flow. The rise of public equities and IPOs changes this paradigm completely. By purchasing shares in a public company, a religious individual becomes a legitimate fractional owner of a business enterprise, sharing in its real-world profits and losses through dividends. This transformation bridges the gap between ethical compliance and modern wealth preservation.

Ultimately, the distribution of the latest bank dividends marks the dawn of a new financial era for the citizens of Azerbaijan. It proves that the domestic stock market is no longer an exclusive playground for institutional giants, but an accessible escalator of wealth for the ordinary citizen. By lowering entry barriers, maintaining tax-free incentives, and providing yields that outpace inflation, the nascent market is gradually weaving itself into the daily lives of the population. As more companies prepare to transition into the public eye, the foundations are being laid for a more resilient, inclusive, and financially literate society, opening grand doors of opportunity for generations to come.