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Daily Archives: December 16, 2014

GEL Exchange Rate Strengthens after Sharp Downturn

After the sharp devaluation the GEL exchange rate against USD rose by 6% to 1.8421 point from 1.9527 point from December 8 to December 12. In the reporting week, the GEL exchange rate against EUR rose by 5% to 2.2938 point from 2.4118 point. The Georgian national currency stood at …

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TBC Bank and PayPal launch partnership in Georgia

TBC Bank, innovative Georgian next-generation financial institution launches its cooperation with global payment provider PayPal in order to offer TBC Bank customers an easy and quick way to create PayPal accounts. Due to PayPal, all TBC Bank customers will be able to create PayPal account directly from their TBC Bank …

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Record High FDI in 3Q14, Stabilized Lari, Prudent 2015 State Budget

Georgia posted record FDI growth of 99% y/y to US$ 507mn in 3Q14 as its business-friendly environment continued to attract foreign investors. The strong FDI and stable economic framework eased depreciation pressures and the lari has recovered somewhat against the dollar last week, strengthening by 6.2%. While the external environment …

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