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Economy

QUALITY OF GEORGIAN GOVERNMENT – EXPERTISE BY ECONOMIST INTELLIGENCE UNIT

The Center for International Monitoring of Governments has held a forum on the topic: “The Quality of the Georgian Government – Expertise by Economist Intelligence Unit (EIU)”. The meeting made focus on the report developed by EIU international organization that has evaluated the quality of conduct of various governments worldwide …

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G20 leaders to add $2 trillion to global economy by 2018

Leaders of the G20 left Brisbane with a plan: to collectively boost the global economy by $2 trillion by 2018, and to implement structural reforms to “re-balance” and strengthen it. This would be a 2 percent increase to the world’s $74 trillion economy. The “Brisbane Action Plan,” outlined in the …

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The World Could Be Heading Toward a Global Shortage of Chocolate

People are consuming more cocoa than farmers are able to produce, according to two of the world’s largest chocolate makers, who say that a global shortage of chocolate might be on the cards. Mars, Inc. and Swiss-based chocolate giant Barry Callebaut say demand is likely to outstrip production by one million …

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IMF’s Tbilisi Office Presented a New Report

November 17, Tbilisi — IMF’s Representative Office in Georgia held a presentation of its annual report “Regional Economic Outlook for Caucasus and Central Asia” at Courtyard Marriott. Representatives of the government, the National Bank of Georgia, economic think-tanks, business associations, international organizations, ambassadors and economic attaché of the diplomatic corps …

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Global stocks fall, oil dips as Japan slips into recession

Shares fell and the oil price slid on Monday after data showed Japan had slipped into recession, raising concerns about global growth. European shares opened lower. They followed Tokyo’s Nikei index  N225 which lost 3 percent, its biggest one-day drop since August on news that the world’s third-largest economy unexpectedly shrank by an annualised …

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Russian Factor Arises in Energy Supply of Tbilisi

A part of the gas consumers may get  natural gas  flowing through a pipe  passing via Russia.Commersant.ge was told by  CEO of KazTransGas- Tbilisi. According to Sanzhar Shokataev, the negotiations with the Russian side will begin immediately after KazTransGas returns under  their management. If the negotiations with Moscow are successful, customers …

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No Other Choice than to Turn to Russia, — Ukraine’s Energy Minister

Ukraine doesn’t see other options than to buy gas from Russia, or coal from the self-proclaimed Donetsk People’s Republic, to keep the country warm this winter, said Yury Prodan Ukrainian Energy and Coal Industry Minister. “South Africa has refused to maintain further deliveries of coal to us. A new contract …

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Regulators fine global banks $3.4 billion in forex probe

Global regulators imposed penalties totalling $3.4 billion on five major banks, including UBS, HSBC and Citigroup on Wednesday in a landmark settlement over allegations of price fixing in the foreign exchange market. Royal Bank of Scotland and JP Morgan were also fined for attempting to manipulate foreign exchange benchmarks in …

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Kazakhstan to launch new economic policy – President Nazarbayev

ASTANA. KAZINFORM – President Nursultan Nazarbayev has announced today that Kazakhstan will launch the new economic policy Nurly Zhol. The announcement was made at the enlarged session of the Political Council of the Nur Otan Party at the Nazarbayev Center in Astana. The Head of State explained that the new …

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Global stocks rise, Brent crude hits four-year low

European stocks rose on Tuesday, with investors in bullish mood after Wall Street notched up a fourth straight record close and Tokyo’s Nikkei hit a seven-year high on talk that a Japanese sales tax increase may be delayed. The gains in Tokyo stocks helped push the yen lower versus the dollar. …

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Legatum Prosperity Index: A look at Georgia’s Economic Profile

Georgia ranked 80th among 142 countries on a UAE-based think-tank Legatum Institute’s Prosperity Index. The country moved up four points compared to the last year’s ranking. Georgia is preceded by Azerbaijan occupying 79th place, and followed by South Africa, ranking 81st. Legatum’s Prosperity Index is an annual ranking of 142 …

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