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Monthly Archives: December 2014

A 17-year old high school student makes $72mn on stock market

Mohammed Islam, a 17-year old school student from New York’s Stuyvesant High School, has made a $72 million fortune trading stocks in lunch breaks. The young investor hopes to become a billionaire next year. The son of Bengali immigrants from Queens, Islam spends most of his breaks trading oil and …

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Despite falling world prices, food prices continue to rise in Turkey

While global food prices are falling, according to a recent report of the UN Food and Agriculture Organization (FAO), prices in Turkey continue to rise, implying that large price increases in Turkish markets stem not only from unfavorable weather conditions, as officials in the country have been claiming, but other …

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GEORGIA TURNS INTO DIGITAL TERRESTRIAL BROADCASTIG ON JUNE 17, 2015

In 2015 Georgia will turns into a new format for broadcasting. The existing terrestrial  broadcasting will be replaced by digital technologies. All member countries of the International Telecommunications Association, including Georgia, are obliged to implement the project. The Georgian government provides active job in various directions for the project implementation. …

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TAC OFFICIAL STORE OPENS IN TBILISI

Sopo Maisuradze, a TAC Marketing and PR Manager -TAC has unveiled an official store in Tbilisi. Which brands will be represented at the store? Will your showroom offer various brands to the Georgian customer? – TAC provides immediate reaction to modern challenges in the fashion industry in terms of quality …

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GEL Exchange Rate Strengthens after Sharp Downturn

After the sharp devaluation the GEL exchange rate against USD rose by 6% to 1.8421 point from 1.9527 point from December 8 to December 12. In the reporting week, the GEL exchange rate against EUR rose by 5% to 2.2938 point from 2.4118 point. The Georgian national currency stood at …

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TBC Bank and PayPal launch partnership in Georgia

TBC Bank, innovative Georgian next-generation financial institution launches its cooperation with global payment provider PayPal in order to offer TBC Bank customers an easy and quick way to create PayPal accounts. Due to PayPal, all TBC Bank customers will be able to create PayPal account directly from their TBC Bank …

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Record High FDI in 3Q14, Stabilized Lari, Prudent 2015 State Budget

Georgia posted record FDI growth of 99% y/y to US$ 507mn in 3Q14 as its business-friendly environment continued to attract foreign investors. The strong FDI and stable economic framework eased depreciation pressures and the lari has recovered somewhat against the dollar last week, strengthening by 6.2%. While the external environment …

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GPI Holding Employed more than 100 People in 2014

GPI Holding is one of the most active companies in the employment market. During 2014 GPI Holding employed more than 100 people. According to the jobs search and recruitment agency hr.ge, GPI Holding is  included in the top five  leading companies on this indicator. According to Nino Khachapuridze,  the head …

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Airzena Responds to Georgia’s Economy Minister

Airzena responds to Economy Minister Giorgi Kvirikashvili. According to Iase Zautashvili,  Airzena Director General ,  the agreement signed between Georgia and Russia foresees  observance of flights parity between the two airlines. The agreement also states that neither side should be in dominated position. In his words, according to the agreement, …

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Azerbaijan invests more abroad

Azerbaijan’s net assets amounted to $7.9 billion in January-September 2014, the balance of payments as of the third quarter of 2014, published on the website of the Central Bank of Azerbaijan (CBA) Dec. 11, says. This amount has been formed through Azerbaijan’s direct investments ($1.206 billion), portfolio investments ($156.4 million) …

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