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Daily Archives: November 12, 2014

What the dollar’s rise means for the global economy


The US dollar is on the move. In the last four months alone, it has soared by more then 7% compared with a basket of more than a dozen global currencies, and by even more against the euro and the Japanese yen. This dollar rally, the result of genuine economic progress and …

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Spotify to Taylor Swift: Free Music Makes You Millions

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Spotify has always been dogged by criticism that it doesn’t provide a sustainable way for musicians to make money. Getting dumped by Taylor Swift in protest of paltry royalties delivered particular sting. Swift dominates the public conversation like almost no other pop star, and most high-profile critics of streaming music …

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Regulators fine global banks $3.4 billion in forex probe

Dollar signs are seen alongside the signs for other currencies at a currency exchange shop in Hong Kong

Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup on Wednesday in a landmark settlement over allegations of price fixing in the foreign exchange market. Royal Bank of Scotland and JP Morgan were also fined for attempting to manipulate foreign exchange benchmarks in …

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After Excise Tax Rise, Price of Cigarettes to Hike by 5%


“Commersant”  reports  that from  July 1, the government plans to introduce the ad valorem tax on tobacco and increase the excise tax on tobacco products, which will lead to an increase in cigarette prices by about 5%. Raising excise taxes is part of the government program to fight against smoking, …

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State Development Corporation to be Established in Georgia


“Commersant”  reports that the German Development Bank (KFW) will assist the Georgian government in establishing the  State Development Corporation. According to  the parliamentary majority  leader David Saganelidze, KFW will provide about 350 000 Euro for a research about the prospects for the creation of such a structure in Georgia, and …

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Air Astana Increases the Number of Flights from Georgia


Kazakh airline Air Astana intends to increase the number of flights to Georgia – the company’s Vice President Erbol Ospanov states. In particular, he is talking about the launch of direct flights between Tbilisi and Astana. According to him, air carriers don’t face any problems in Georgia. “For example, in …

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Kazakhstan to launch new economic policy – President Nazarbayev


ASTANA. KAZINFORM – President Nursultan Nazarbayev has announced today that Kazakhstan will launch the new economic policy Nurly Zhol. The announcement was made at the enlarged session of the Political Council of the Nur Otan Party at the Nazarbayev Center in Astana. The Head of State explained that the new …

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