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Monthly Archives: May 2015

The Point the GEL will Stop at…

All GEL-devaluating Factors have either Improved or Unchanged The GEL exchange rate against USD has dropped by about 35% since November 2014. The degree of growth in misbalance between the currency inflows and outflows is another issue, but no one refuses the misbalance has grown. It is interesting what is …

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U20 Georgian National Rugby Team Wins World Rugby Trophy

U20 Georgian National Rugby Team Wins World Rugby Trophy

Georgia have been crowned champions after the side won the 2015 World Rugby Under 20 Trophy for the first time in the Georgian rugby history. The junior Lelos defeated Canada 49:24 in today’s final in Lisbon, Portugal. Almost every time the Georgians touched the ground, they scored a try this evening. …

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Georgia is the Oldest Wine Producing Country in the World

Georgia is the Oldest Wine Producing Country in the World

Archeologists are hard at work sifting through the dirt at a dig in Imiri, south-eastern Georgia. The scientists believe that the site contains artefacts that could once and for all prove that Georgia is the oldest wine producing country in the world. Eight thousand years ago, during the neolithic era, …

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Big Tobacco Goes into Battle over Plain Packaging

Big Tobacco Goes into Battle over Plain Packaging

Big tobacco companies are stepping up their global fight against government attempts to make cigarettes less appealing by removing brands from packaging.  Philip Morris (PM) and British American Tobacco (BTAFF) said Friday they have filed lawsuits against a new British law requiring cigarettes to be sold in plain packs. The …

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Why Does Putin Care Who Runs a Tiny Balkan Nation?

Why Does Putin Care Who Runs a Tiny Balkan Nation?

Russian leaders, whose conflict with Ukraine has seen them tussling with eastern Europe’s largest country, are now turning their gaze to a Balkan nation with fewer residents than Brooklyn.  There’s a common theme, though: gas pipelines. Macedonia, a statelet of 2 million people carved from the ruins of Yugoslavia, is struggling …

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The Best-Selling Beer in the World

The Best-Selling Beer in the World

The global beerscape has changed dramatically over the past decade, as growth in China benefited mainland brands. Most of these aren’t sold in your local supermarket. (Rankings based on market share.) 1. Snow (China) 2005 rank: 11 Market share: 5.4% Sales volume up 573% since 2005 2. Tsingtao (China) 2005 rank: 10 …

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EU Agrees 1.8bn-euro Loan to Cash-strapped Ukraine

EU Agrees 1.8bn-euro Loan to Cash-strapped Ukraine

The EU has agreed a €1.8bn (£1.3bn; $2bn) loan to Ukraine – described as a landmark deal for a non-EU member. The agreement was signed at an EU summit in Riga, Latvia, with the leaders of six post-Soviet nations. The loan aims to help cash-strapped Ukraine implement economic reforms, as fighting …

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Sales of New Apartments Fell

Sales of New Apartments Fell

Recently, sales of new apartments have decreased due to the difficult economic situation in the country. According to the developers, due to the devaluation of the national currency, people refrain from making major purchases, while banks refrain from lending. According to General Director of “Archi Group” Ilya Tsulaia, sales were …

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National Bank Deprived of Levers of Control over Commercial Banks

National Bank Deprived of Levers of Control over Commercial Banks

A draft law providing for the transformation of the Supervision Agency over commercial banks in an independent structure was sent to the Parliament. According to Tamaz Mechiauri, the head of the Budget and Finance Committee of the Parliament , it will remain in the National Bank’s structure but will operate …

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Georgia Prepares to Celebrate 97th Independence Day

Georgia Prepares to Celebrate 97th Independence Day

In four days’ time Georgia will celebrate the 97th anniversary of its independence from the USSR. Each year on May 26 celebrations are held throughout Georgia to mark Independence Day. In recognition of Georgia’s independence, a group of Georgian singers have come together and performed a famous Georgian song. Georgian …

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Rare Death Mask of Napoleon Bonaparte Exhibited in Tbilisi

Rare Death Mask of Napoleon Bonaparte Exhibited in Tbilisi

What does Paris, London, Havana and Zugdidi, in western Georgia, have in common? These four cities house a unique treasure that’s of world importance – they each have one of four genuine copies of the death mask of former French emperor Napoleon Bonaparte. For the first time, the death mask …

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