728x90
Home / Economy (page 270)

Economy

Feasibility Study of AGRI Project Presented to Shareholders

The AGRI (Azerbaijan-Georgia-Romania interconnector) project may become one of the infrastructure projects that will allow Azerbaijan to transport its large reserves of gas on the markets, the head of SOCAR (State Oil Company of Azerbaijan) Rovnag Abdullayev told reporters Dec.8. “All projects have a right to exist,” he said. “Azerbaijan …

Read More »

Azerbaijan ships 1.8m tons of oil via Ceyhan

Over 1,847 million tons of Azerbaijani oil was shipped from Ceyhan port to world markets in November, SOCAR reported. Of this figure, more than 1, 120 million tons belonged to the State Oil Fund of the Republic of Azerbaijan. According to official figures, a total of 26,442,278 tons of Azerbaijani …

Read More »

IMF official: Georgia’s macroeconomic foundation is solid

An International Monetary Fund (IMF) official believes the recent fluctuations of the Georgian Lari will not shake the country’s macroeconomic foundation. Although the Georgian currency continued to depreciate in value against the US Dollar this week, IMF Resident Representative in Georgia Azim Sadikov said Georgia’s macroeconomic foundation and “main indicators” …

Read More »

Turkey completes over 80% of work on BTK railway

Over 83 percent of the work has been completed in Turkey as part of the construction of Baku-Tbilisi-Kars (BTK) railway, Turkish Anadolu agency reported on Dec.4. Currently, the work on construction of 550 meters-long tunnel as part of the construction of BTK is underway in Turkey. It is planned to …

Read More »

Minister of Economy Ready to Communicate with Businessmen

Georgia’s Economy Minister Giorgi Kvirikashvili declared his  readiness to receive information on any problems business faces, including through the radio station “Commersant”. “Entrepreneurs have the possibility to inform the Ministry of Economy about their problems and personally, through business ombudsman and radio”Commersant “. I was surprised by the statement that …

Read More »

Finance Ministry’s Compromise Unacceptable to Beer Producers

Finance Ministry’s   compromise regarding an excise duty is not acceptable to  beer manufacturers. According to the companies, a decision to enact 50% excise tax price increase on  malt beer instead of  tax increase in half   from   March 1 instead of January 1, cannot  be a relief for business. Manufacturers say that …

Read More »

Economic Fundamentals Supporting Stable Lari

Lari remained broadly stable in 2014 while other currencies significantly lost their values against dollar. However, weaker external environment supported depreciation pressures as was anticipated and since mid-November lari has shown greater volatility. Lari lost 12.4% of its value against the dollar and 0.8% against the Euro year to date. …

Read More »

GEL Exchange Rate Sees 10 Years’ Bottom

The reporting period from December 1 to December 5 has recorded a 3.3% downturn in GEL exchange rate against USD from 1.8368 point to 1.8984 point, a 2.2% contraction against EUR from 2.2872 point to 2.3383 point. Moreover, GEL exchange rate shrank against GBP to 2.9780 point to 2.8825 point. …

Read More »