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Daily Archives: July 13, 2015

ISET: Economic Growth above 2% is not Realistic

An interview with Senior Researcher at  the research center ISET Maya Grigolia In 2015, the Georgian government planned 5% growth of the economy, but now it is obvious that it will not exceed 2%. How realistic is this figure and is it low or high taking into account the situation …

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Egyptian Billionaire Takes Majority Stake in Euronews

Media Globe Networks, a company owned by the Sawiris Family and managed by Egyptian billionaire Naguib Sawiris, now holds 53% in Euronews after completing  a €35 million capital increase in the business. The new deal follows several months of exclusive negotiations between Media Globe Networks and Euronews, with the remaining …

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The 10 Powerful HPP’s in Georgia (Infographics)

Georgia has immense untapped hydro resources – it is assumed that only 20% of total hydro potential is utilized The Georgian electricity sector has been deregulated over the last decade. Meaning, the players of the sector can choose their market and the price in which they are willing to sell. …

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Liberty Bank finalized UnionPay International Chip Card Acceptance Project

Liberty Bank finalized UnionPay International chip card acceptance project and further partners with UPI to launch QuickPass contactless cards. Liberty Bank CEO, George Arveladze and UnionPay International President, Shi WenChao announced the ongoing project about issuance of UnionPay International QuickPass contactless cards in Georgia at a joint press conference held …

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Alcohol and Tobacco Prices on Rise While Food Prices Drop

Data published by Georgia’s National Statistics Office, Geostat, revealed the change in price of goods in June 2015 contributed to a monthly inflation rate of 0.02 percent. Last month the cost of food and non-alcoholic beverages dropped by 1.9 percent, which contributed 0.59 percentage points to the overall monthly inflation. …

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Oil Prices Fall as Iran Nuclear Deal Seems Likely

Oil prices fell on Monday as Iran and six world powers were close to nailing down a nuclear deal, but high Chinese crude import figures prevented prices from tumbling further.  The potential of Iran soon adding to global oil oversupply and the demand side weakening over China and Europe led …

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World Entering Era of Global Food Insecurity

World entering era of global food insecurity with malnutrition and obesity side by side within countries, says leading food expert. The world is entering an era of global food insecurity which is already leading to the “double burden” of both obesity and malnutrition occurring side by side within countries and …

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Greece Debt Crisis: Eurozone Summit Reaches Agreement

Donald Tusk Greece debt

Eurozone leaders have reached agreement over a third Greek bailout after marathon talks in Brussels. EU chairman Donald Tusk said leaders agreed “in principle” on negotiations for the bailout, “which in other words means continued support for Greece”. Prime Minister Alexis Tsipras said that after a “tough battle”, Greece had secured …

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Government’s New Regulation for Business

Amid belt-tightening,  the Georgian government is increasing  spending not for  social projects   but for the  introduction of  a new regulation for  business, namely  electronic marking system for  non-alcoholic beverages. The authorities want this obligation, the business has been struggling  with for almost 5 years, to come into effect  in the …

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