(R) IE University's "AZEMBA" educational programme opens in Baku with support of PASHA Holding and SOCAR. The opening ceremony of the "AZEMBA" programme of IE University's Center for Leadership and Innovation was held in Baku on September 21. The programme is being implemented within the framework of a strategic partnership between PASHA Holding, SOCAR and Spain's IE University, with the support of the Ministry of Science and Education and the Ministry of Economy of the Republic of Azerbaijan. The "AZEMBA" programme aims to contribute to the development of leadership skills in Azerbaijan, strengthen human capital and bring international expertise to the country. Participants will receive internationally oriented education in areas including digital transformation, artificial intelligence, sustainable development, innovation, leadership and modern management. The programme will also support the integration of Azerbaijani professionals into the global academic and business ecosystem, while expanding access to advanced educational opportunities in the country. Speaking at the opening ceremony, Jalal Gasimov, CEO of PASHA Holding, said: "The start of education for the first cohort of participants marks another stage in PASHA Holding's long-term investment in human capital, which is a core part of our people philosophy. We believe that the economic and business environment of the future will be shaped not only by technology and financial capital, but also by leaders who can manage change, embrace new approaches and combine international experience with local realities. I am confident that the participants of 'AZEMBA' will use the knowledge and experience they gain to foster new ways of thinking and new approaches within their organisations, while also contributing to society and the sustainable development of our economy." Noting that SOCAR is rapidly and systematically transforming from a traditional oil and gas company into a diversified and integrated energy company, Zaur Gurbanov, Vice President of SOCAR, said: "The real value of the 'AZEMBA' programme will not be measured solely by the number of its graduates, but by how effectively the knowledge, ideas and new perspectives gained through the programme are translated into better decisions, stronger teams and new initiatives. Our expectation is not simply for participants to complete an MBA programme and receive a diploma. We expect them to return with new questions, new perspectives and different approaches to existing ways of working. We believe that participants will become people who contribute to the dissemination of knowledge within their organisations and representatives of a new generation of leadership." The start of education for the first cohort marks the next stage of the strategic partnership between PASHA Holding, SOCAR and IE University, signed in April 2026. More than 850 applications were received for the programme, with 40 participants selected for the first cohort following the selection process. PASHA Holding, which celebrates its 20th anniversary this year, is one of Azerbaijan's leading business groups, operating across banking, insurance, fintech, real estate, retail, agriculture and other sectors. With more than 25,000 employees and assets exceeding USD 18 billion, the Holding continues to expand its international presence. PASHA Holding currently operates in Azerbaijan, Uzbekistan, Türkiye, Georgia, Montenegro and the United States. SOCAR is a global integrated energy company headquartered in Azerbaijan. The company operates across various segments of the energy value chain, from oil and gas exploration and production to refining, petrochemicals, transportation, trading and distribution. With a broad international footprint, SOCAR contributes to the energy security of Azerbaijan and its strategic partners while promoting sustainable development. Follow us on social network

Trade turnover between Azerbaijan and Uzbekistan tripled. Published: 21 Aug. 17:55 (UTC+3 MSK) Trade turnover between Azerbaijan and Uzbekistan tripled last year, reaching $795 million, Azerbaijan's President Ilham Aliyev said. The head of state noted that the positive trend continued into the first half of 2026. "In addition, in January-May 2026, trade turnover grew by 33% compared to the same period of the previous year and amounted to $144 million", Aliyev said. According to the Azerbaijani president, Baku and Tashkent complement each other economically, laying the groundwork for further cooperation across various sectors. Ilham Aliyev also noted that Azerbaijani businesses are actively involved in projects in Uzbekistan. "Azerbaijan is also implementing investment projects in Uzbekistan, including the hotel and residential complex under the Ritz-Carlton brand being built by PASHA Holding in Tashkent, as well as the large tourism and residential complex project "Sea Breeze Uzbekistan" in the Tashkent region",