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Daily Archives: December 9, 2014

Gov’t in no Hurry to Solve the Issue of Salary Supplements


The legislation does not regulate the issue of salary supplements, instead of bonuses, officialsreceive  respectable sums  in the form of wage supplements. The Republican Party member, the  MP Tina Khidasheli addressed the legislature with initiative to solve the issue of salary supplements at a lawlevel about two months ago. In this case, …

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Why Rumors Outrace the Truth Online


It’s no surprise that interesting and unusual claims are often the most widely circulated articles on social media. Who wants to share boring stuff? The problem, however, is that the spread of rumors, misinformation and unverified claims can overwhelm any effort to set the record straight, as we’ve seen during …

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Inside The $3 Billion Business Of Formula One


Formula One has no shortage of controversy. CEO Bernie Ecclestone may be on his way out and last monthhe said the most prestigious auto racing circuit is in deep financial crisis and he doesn’t know how to repair it. Formula One is burdened by $4.1 billion in debt, according to …

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Azerbaijan ships 1.8m tons of oil via Ceyhan


Over 1,847 million tons of Azerbaijani oil was shipped from Ceyhan port to world markets in November, SOCAR reported. Of this figure, more than 1, 120 million tons belonged to the State Oil Fund of the Republic of Azerbaijan. According to official figures, a total of 26,442,278 tons of Azerbaijani …

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IMF official: Georgia’s macroeconomic foundation is solid


An International Monetary Fund (IMF) official believes the recent fluctuations of the Georgian Lari will not shake the country’s macroeconomic foundation. Although the Georgian currency continued to depreciate in value against the US Dollar this week, IMF Resident Representative in Georgia Azim Sadikov said Georgia’s macroeconomic foundation and “main indicators” …

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McDonald’s Is Losing America


On Monday, McDonald’s reported global same-store sales that declined 2.2% month-on-month. This missed analysts’ expectations for a 1.7% decline. In the US, the story was even worse for the fast-food giant, as same-store sales fell 4.6%. To the right is the staggering chart showing the collapse in US same-store sales over …

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Turkey completes over 80% of work on BTK railway


Over 83 percent of the work has been completed in Turkey as part of the construction of Baku-Tbilisi-Kars (BTK) railway, Turkish Anadolu agency reported on Dec.4. Currently, the work on construction of 550 meters-long tunnel as part of the construction of BTK is underway in Turkey. It is planned to …

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World Bank Predicts Russian Economy Will Shrink 0.7 Percent Next Year

Russian traditional Matryoshka wooden dolls and other gifts are on display, with sale advertisements seen behind a shop window, in St. Petersburg

The World Bank said Friday it expected the Russian economy to contract by 0.7 percent in 2015 in its new baseline scenario before growing by 0.3 percent in 2016. The new baseline, or most likely scenario, assumes an average oil price of $78 per barrel for 2015 and of $80 per barrel for 2016. “Investment is projected to contract for a third year in a row in 2015, …

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China No More


IN THIS week’s print edition we published a chart that looks at the world’s biggest economies over time. We timed it to coincide with the news that China, at least in purchasing-power parity terms, is now the world’s biggest economy. People tend to find this historical stuff rather interesting, so …

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Nigerian Billionaire Tony Elumelu Commits $100 Million To Create 10,000 African Entrepreneurs In 10 Years


Nigerian billionaire investor and philanthropist Tony Elumelu has committed $100 million to create 10,000 entrepreneurs across Africa over the next 10 years. Elumelu made the commitment on Monday during a press conference in Lagos to announce the launch of The Tony Elumelu Foundation Entrepreneurship Programme (TEEP). TEEP, a Pan-African entrepreneurship initiative …

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