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Daily Archives: February 12, 2015

“Maserati” Already in Georgia

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“Omega Group” brought in Georgia   Italian luxury cars “Maserati”. The brand was founded in Italy in 1914 and since then occupied a leading position  in the  world’s auto  market. “Maserati” is characterized by high quality, sportiness and best performance. It is known that “Maserati” all models will be presented in …

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George Kvirikashvili Considers a Refinancing Rate Increase an Adequate Solution

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Minister of Economy and Sustainable Development, Vice-Prime Minister Giorgi Kvirikashvili considers  the National Bank’s decision on refinancing rate  increase in the current situation an adequate solution. Kvirikashvili assessed the central bank’s yesterday decisions at the Cabinet meeting  and noted that the economic team was informed about this. “As you know, …

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NBG Increases Its Policy Rate By 50 Basis Points To 4.5%.

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The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) met on February 11, 2015 and decided to increase the refinancing rate by 50 basis points to 4.5%. The monetary policy decision is based on the macroeconomic forecast, according to which the risks affecting the forecast inflation have …

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Gov’t discusses ways to maintain financial stability in Georgia

The Government of Georgia is pledging to do everything it can to ensure the country enjoys financial stability. The Government’s economic team has already begun to take action in a number of directions, including increasing the number of visitors to Georgia, encouraging export and supporting the construction sector. These were …

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Georgia adopts GPS tracking device for more safety

Hikers, adventurers and those exploring Georgia can experience more peace of mind when travelling thanks to the introduction of a Global Positioning System (GPS) tracking service that will connect them with emergency services if they become lost. The Ministry of Internal Affairs introduced the special GPS service that will allow …

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PepsiCo Decreased its Net Income

PepsiCo Inc on Wednesday reported a higher-than-expected quarterly profit, helped by increased sales at its Frito-Lay snack business, and said it would buy back up to $12 billion in stock by 2018. The company also raised its annual dividend by 7.3 percent to $2.81 per share and said it expected …

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Hungary invests in Georgia’s entrepreneurship development

Hungary’s Eximbank will allocate $ 50 million for the development of entrepreneurship in Georgia. This statement was made during the Georgian-Hungarian Business Forum, held in Budapest, the Georgian government said. Georgian Prime Minister Irakli Garibashvili attended the business forum as part of his official visit to Hungary. During the forum, …

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Russian Market Closed for Georgia

“Commersant” reports that  the Russian market has become unprofitable for the Georgian producers and, accordingly, the export is almost stopped. According to a source, a large number of trucks with alcoholic beverages and mineral water has accumulated at the Russian-Georgian border , companies exported fruits to Russia also face big …

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State Budget Filled through 2.2 Billion Debt

22.5% of the state budget revenues will be filled through domestic debt and money transferred from donors. In the last 2 years, the scale of the debt is rising sharply. Although the country’s debt to GDP ratio has not yet reached a critical threshold, specialists still consider taking excessive debt …

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