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Daily Archives: December 3, 2014

3rd International Caspian Energy Forum – 2015


Cross Caspian Oil & Gas Logistics LLC, Azpetrol Ltd LLC and PAŞA Bank OJSC become golden sponsors. Baku will host the 3rd International Caspian Energy Forum–2015 and Caspian Energy Award – 2015 official awarding ceremony on March 11, 2015. The events will be held under the support of the Ministry of …

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Enactment of a Compulsory Auto Insurance Law may be Postponed


The enactment of a compulsory automobile insurance law may be deferred until 2017-2018. According to President of the Georgian Insurance Association Devi Khechinashvili ,  if the active work on the bill on Compulsory Insurance against Civil Liability in respect of Motor Vehicles  has not  started at the end  of the year …

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Drop in GEL Value not yet Reflected in Bank Loans

Percent sign in magnifying glass

The GEL depreciation has not yet been reflected in the interest rates of bank loans. Last year due to the depreciation of the GEL, loans issued in the national currency rose in price by several lari butthis year  the banks interviewed  by “Commersant” say that rates have not been revised. …

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The Unusual Strategy That Made This Woman A Billionaire


In each generation, an elite few entrepreneurs skyrocket to almost unimaginable heights. Among that already select group an even more exceptional group emerges: those whose business success affects society in such a way that they become forever ingrained in the public conscious. Warren Buffett, Oprah Winfrey, Steve Jobs, Bill Gates …

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Georgian Wine to Rise in Price in the Russian Market


Whether the ruble’s depreciation will cause   a hike  in prices of  Georgian wine on the Russian market? What risks are the Georgian winemakers talking about and what are  the Russian side’s requirements? At this stage  exporting companies have already received the first messages from  the Russian partners. Georgian wine will …

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Georgia Ranked 50th in the Corruption Perception Index


The international organization Transparency International published its latest report on the level of corruption in 174 countries around the world. Georgia continues to be one of the leaders in the Eastern Europe – Central Asia region and occupies 50th place in the ranking. In Transparency International ranking the countriesare ranked …

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Oil price decrease: Azerbaijan relies on non-oil sector


The decision of Organization of Petroleum Exporting Countries to maintain its oil output unchanged even after the sharp fall in oil prices since the global recession has paved the way for a price war in the crude market and forced oil producing countries to search a way out of the …

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Turkish inflation surges to 9.15 pct in November


Turkish consumer prices rose in November as food prices continued to climb, data showed on Wednesday. Turkish annualized inflation increased to 9.15 percent in November from 8.86 percent in September, data from the Turkish Statistics Institute (TurkStat) showed on Wednesday. Economists had expected the August rates to be at 9.25 …

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Russia Is Falling Into A Recession


Russia’s Economy Ministry has downgraded its GDP forecast for the country in 2015 from 1.2% growth to a 0.8% contraction. In other words, the country is falling into a recession. The net amount of foreign capital expected to flow out of the country in 2014 has been revised sharply upward to $125 billion …

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