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Daily Archives: July 1, 2015

China Ratifies Creation of BRICS Bank

China has officially ratified the agreement on creating New Development Bank (NDB), formerly referred to as the BICS Development Bank, today, July 1. State news agency Xinhua reported the news today. NDB represents a multilateral development bank operated by the BRICS states (Brazil, Russia, India, China, and South Africa). The …

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10 Places to Visit in Georgia This Summer

Don’t tell us that you thought that summer in Georgia is seaside vacation only! Yes, you can have pretty much fun in Batumi, swimming, dancing, listening to jazz during Black Sea Jazz Fest (23 – 26.07) and tasting awesome local food. You can relax in Gonio, Kvariati, Chakvi and Kobuleti, …

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Ukraine to Stop Buying Russian Gas

Russia and Ukraine failed to reach a new agreement on gas prices at talks in Vienna on Tuesday, leading to Ukraine suspending its purchase of Russian gas. Russian Energy Minister Aleksandr Novak and Ukraine’s Energy and Coal Minister Vladimir Demchishin both admitted to reporters that the negotiations had born no …

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The World’s Richest People Lost $70 Billion Yesterday

The world’s 400 richest people lost a combined $70 billion on Monday as equity markets around the globe were hammered on fears about Greece and declines in China fueled by leveraged investors exiting the market. The loss for the billionaires amounted to an average decline of $175 million, according to …

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Nabeglavi Focuses on Asian Markets

“Margebeli Tskali” (Healthy Water) produced by Nabeglavi company has entered  the Chinese and  Arab markets this year. According to  a representative of the company, the company’s products are exported to China for several months and represents  an interesting direction for the company. Levan Chikovani says  that China is a big …

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Georgia’s International Debt Constitutes 13 bln Dollars

The gross external debt of Georgia as of 31 March 2015 amounted to 13.4 billion USD (29.9 billion GEL), which came to 82.8 percent of the last four quarters’ GDP. The net external debt of Georgia totaled 8.8 billion USD (19.6 billion GEL or 54.2 percent of GDP) as of …

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Georgia’s GDP Rose to 2.1% in May 2015

According to Geostat, Georgia’s Gross Domestic Product grew by 2.1 percent in May 2015. The data, which was published yesterday, showed that the estimated real GDP growth reached 2.5 percent for the first five months of 2015 compared to 2014.Geostat  produced monthly rapid estimations of real GDP growth using administrative …

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Steen’s Chronicle: The Marginal Cost of Everything

Chief Economist & CIO / Saxo Bank – Denmark Profit both drives and explains stocks Rising cost of capital will filter through to profits in autumn Ignore rises in capital costs at your peril Best advice? Stash your cash and use it later Studying economics, to be honest, is of …

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