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Daily Archives: May 10, 2017

Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian Lender BGEO Increase Porfit and Revenue in First Quarter

Georgian banking and investment firm BGEO Group PLC said Wednesday it increased its pretax profit and revenue in the first quarter of 2017. FTSE 250-listed BGEO reported a pretax profit of GEL113.3 million for the three months to March 31, or approximately GBP35.8 million. This was up 17% from GEL97.0 …

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Retail Loans Dollarization Shrinks by 4.6% in 3 Months

dollarization

In March 2017 deposits dollarization coefficient has insignificantly increased. According to National Bank of Georgia (NBG), in March (as of March 17), deposits dollarization coefficient made up 70%, up from 69.8% in February 2017 and down from 70.4% in January 2017. Unlike deposits, in March loans dollarization level declined to …

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Nauru Loses US Financial Support

Nauru is no longer eligible for any US government financial support because it recognises two Georgian break-away regions as independent countries. US President Donald Trump has signed an act which declares that Abkhazia and South Ossetia are Russian-occupied territories belonging to Georgia. The act bans support for countries which recognise …

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G.ber – Young Georgian Painter Turned Art into Clothes

G.ber is a startup with a new concept,which provides practical use and availability of the paintings by Giorgi Beriashvili.. His paintings are printed on the different fabric: t-shirts, dresses and etc. G.ber was founded by Giorgi Beriashvili, Tako Beriashvili and Achi Odzelashvili. The brand manager and designer, Tako beriashvili talked with …

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EBRD Keeps Georgia’s Economic Growth Forecast Unchanged

European Bank for Reconstruction and Development (EBRD) has maintained Georgia’s economic growth forecasts unchanged. According to the May 10 report, Georgia’s economic growth will recorded 3.9% in 2017 and 4.2% in 2018. According to EBRD report, positive dynamics is expected in eastern Europe and the Caucasus after the 2016 stagnation. …

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Georgia and USAID – Restoring Efficiency in Agriculture Production

To celebrate 25 years of U.S.-Georgia diplomatic relations, the Georgian Culinary Academy hosted a cook-off with USAID’s Restoring Efficiency in Agriculture Production (REAP) project. The event challenged U.S. and Georgian officials to prepare dishes using only products from local producers and agribusinesses supported by the REAP project and the Agriculture …

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Ministry Of Finance Of Georgia Treasury Note Auction Results

Georgian LARI Strengthens to New Highs

On May 10, 2017, GEL 30 000 000 2-year Ministry of Finance Treasury Notes were sold at the Auction held at NBG. Five commercial banks participated in the auction. The total demand amounted to GEL 56 300 000. Minimum yield was 7.900%, maximum yield was 7.980% and the weighted average …

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