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Daily Archives: February 25, 2015

“PSP” Founder Predicts Currency Crisis to End in May

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Business representatives are satisfied with  the plan worked out by the  government to  stabilizing the lari. The monetary crisis will become stable by May, said Kakha Okriashvili, one of the founders of PSP, after a meeting of government representatives and businessmen. According to him, the GEL exchange rate will stabilize, …

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15 books that could make history this year

best-books

Organisers of the Walter Scott Prize for historical fiction have announced the longlist for this year’s prize, the winner of which will be revealed in June at the Borders Book Festival at Melrose in the Scottish Borders.

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There are no Signs of a Banking Crisis in the Country

There are no signs of a banking crisis in the country. President  of the Association of Banks of Georgia  Zurab Gvasalia says that despite the drop in the exchange rate, there are no signs of the crisis. He notes that proof of this  are non-bank deposits  increased by  almost 2.5 …

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Currency Wars: when Zero is too much

By John Hardy, Saxo Bank The reason central bank policy makers are so afraid of current deflationary pressures is that a deflationary dynamic is particularly dangerous in economies with heavy public and/or private debt loads, which virtually all developed economies find themselves in. The mix in each individual economy is …

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OPEC to hold extraordinary meeting if oil plunge continues

The OPEC member states are discussing the possibility of an emergency meeting should oil prices continue to fall, said Nigerian Oil Minister, and OPEC President Diezani Alison-Madueke. Prices have dropped by than half since their peak last summer. If the price “slips any further it is highly likely that I will …

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Georgian govt to cut spending as lari drops rapidly-DFWATCH

TBILISI, DFWatch–The government in Georgia has proposed to cut spending in order to deal with a drastic drop in the value of the national currency, the lari. The lari began falling in November last year, and went from a level of 1.75 lari against the US dollar to 2.1971 laris …

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Lionel Messi transfer news

Barcelona presidential candidate Agusti Benedito believes that the club’s board cannot be trusted and that they seriously considered selling star player Lionel Messi. With speculation rife in January that Messi was going to leave for a blockbuster fee of £200 million, current president Josep Maria Bartomeu said that the superstar …

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Two Tourist Centers of Georgia: Tbilisi and Batumi

Batumi

Tbilisi Tourism Profile Tbilisi is one of the largest cities in the Caucasus as well as one of the largest in Eastern Europe, with a population of 1.2 million. Tbilisi accounts for over 25% of the national population. It is the industrial, cultural and social centre of Georgia.Spread over a …

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