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Daily Archives: November 6, 2014

Russian Duma considering a law banning the use of dollars

  A law banning possession and use of the U.S. dollars in the country is under consideration by the Russian State Duma. In case the law is approved, every Russian citizen would be required to close any dollar accounts they may have at local banks. The citizens would be given …

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Strong advertising sales boost AOL revenue

Digital media and entertainment company AOL Inc reported an 11.7 percent rise in quarterly revenue, propelled by strong advertising sales. Net income attributable to AOL rose to $28.5 million, or 35 cents per share, for the third quarter ended Sept. 30, from $2 million, or 2 cents per share, a year earlier. The …

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Most Georgian Business Concentrated in Tbilisi

Statistics Service published a report on the performance of business of the country in 2013. As it turned out, Tbilisi remains a place of concentration of most Georgian business -the capital accounts for 72 % of total business established  in Georgia. The expert Soso Archvadze says that  this fact shows …

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Media Asking for Help

Electronic media are calling Georgian President once again use its veto, and this time – against the adoption of the law on social advertising by Parliament. NGOs  join this requirement. In particular, we are talking about the draft amendments to the law on broadcasting and advertising, developed by the Ministry …

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Fruit and Vegetable Prices Hiked by almost 30%

Review of the National Bank of Georgia (NBG) notes that in September 2014 consumer prices have risen 1.2 percent compared with the previous month. In September 2013,  the inflation rate amounted to 0.1 percent. As a result, during the reporting period, the annual inflation rate increased by 1.4 percentage points …

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An Incredible growth of Shanghai

In the last 100 years or so, Shanghai, the megacity on the eastern coast of China, has seen incredible economic, industrial, and population growth. While it has long been a large and important seaport, it wasn’t until the 1990s that urbanization and expansion really exploded in Shanghai, turning it into …

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Canada economy stronger than thought in first-half 2014

The Canadian economy grew at a stronger pace in the first half of the year than previously thought, revised data from Statistics Canada showed on Wednesday. The revised figures raised second-quarter growth in gross domestic product to 3.6 percent from the 3.1 percent first reported by Statscan. The agency revised first-quarter …

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Sotheby’s Auction Led by $101 Million Sale of Giacometti’s ‘Chariot’

Sotheby’s got New York’s fall auctions off to a rollicking start with a sale of Impressionist and modern art on Tuesday that totaled $422.1 million, the highest in the 270-year-old company’s history. Leading the charge was Swiss sculptor Alberto Giacometti’s 1951-52 bronze “Chariot”—depicting a finger-thin woman riding atop a chariot—that …

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