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Monthly Archives: October 2014

Russia’s Gazprom buys Europe’s biggest gas storage facility

Russia will acquire Europe’s largest underground gas storage facility this autumn from Germany’s BASF, continuing the development of its Nord Stream operations. In return, the Germans will get access to large gas reserves in Western Siberia. Gazprom and the Wintershall subsidiary of German chemical company BASF are putting the final …

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China surpasses US as world’s largest economy based on key measure

China has surpassed the US in terms of GDP based on purchasing power parity (PPP), becoming the largest in the world by this measure, International Monetary Fund estimates show. In 2014 China reached $17.6 trillion or 16.48 percent of the world’s purchasing-power-adjusted GDP, while the US made slightly less, 16.28 …

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EU, Kazakhstan agree on enhanced cooperation

The EU and Kazakhstan have signed an agreement in Brussels Thursday, forging closer economic and political ties. President Nursultan Nazarbayev also met with European Commission President Jose Manuel Barroso. Brussels and Almaty will enhance cooperation on 29 key sectors- including economic, financial, energy, transport, environment, climate change, employment, education and …

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Talent Top Challenge As Digital And Tech Drive Growth

The ability to attract top talent is now the biggest concern for public relations agency leaders around the world, according to a survey conducted by The Holmes Report and the International Communications Consultancies Organisation (ICCO) as part of the World PR Report. The findings come after the World PR Report yesterday …

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INTEGRATION OF BANK CONSTANTA INTO TBC BANK TO END BY 1Q15

TBC Bank, today announces that Badri Japaridze has been appointed as a Chairman of the Supervisory Board of Bank Constanta. Mr. Japaridze is a Founder Shareholder and Vice Chairman of the Supervisory Board of TBC Bank. Bank Constanta focuses on the growing micro-finance segment of the Georgian banking sector. It …

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TBC BANK ANNOUNCES THE APPOINTMENT OF NEW CHIEF RISK OFFICER

TBC Bank, a leading bank in Georgia, is pleased to announce the appointment of George Tkhelidze as Chief Risk Officer, effective from December 2014. The former Chief Risk Officer, Archil Mamatelashvili, will take the position of Advisor to the Management Board for Macroeconomics and the Financial Sector. Mr. Tkhelidze joins …

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NBG PRESIDENT ON NEW REGULATIONS FOR HOUSING SECTOR

In the coming weeks National Bank of Georgia will offer new game rules to the commercial banks in lending of construction and healthcare businesses. President of NBG George Kadagidze stated about it on Wednesday, after the meeting with developers. NBG president stated that his institution will regulate the issue by …

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KOVZANADZE FINDS DIFFICULT TO SELECT DIFFERENT MODEL FOR PARTNERSHIP FUND

Irakli Kovzanadze considers that it’s difficult to in a significantly different model from Partnership Fund to create a state fund or corporation. Executive director of Partnership Fund Irakli Kovzanadze stated about it on Thursday, on the commenting of Development of Financial Corporation bill. Kovzanadze considers that considering double deficit of …

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ARCHI GROUP: PROHIBITION OF NONPROFILE

Archi Group considers that  prohibition of non-profile ownership to the commercial banks is important and beneficial. As director general of the company Ilia Tsulaia states, if the regulator establishes such restriction, all companies working in development business will be in equal conditions and healthy competition will be created in the …

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New chance for Azerbaijani companies to expand markets

The agricultural products of Azerbaijan’s various companies are demonstrated at the 16th Russian agricultural exhibition ‘Golden Autumn 2014’, which is underway in Moscow on October 8-11. The news was announced by Azerbaijan’s Economy and Industry Ministry. Fourteen Azerbaijani companies engaged in the sale of fruit and vegetables, a variety of …

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IMF forecasts Azerbaijan’s GDP growth in 2014 at 4.5 pct

The International Monetary Fund (IMF) forecasts Azerbaijan’s GDP growth at 4.5 percent in 2014 and 4.3 percent in 2015. This was noted in a report on the prospects for development of world economy – World Economic Outlook – published on IMF’s website on October 8. According to the fund’s previous …

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Country’s economic indicators positive, President Aliyev says

Azerbaijani President Ilham Aliyev said the economic indicators of the first nine months were very positive. He made the remarks at a meeting of the Cabinet of Ministers dedicated to the results of socio-economic development in nine months of 2014 and future tasks on October 8. The president said since …

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