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Tag Archives: economy

The World’s Richest People Just Lost $182 Billion

The stock market rout gripping the world last week and today is bad news for just about anyone who uses money, but when the value of assets collapses, it’s the richest who lose the most. Take, for instance, Facebook founder Mark Zuckerberg, who lost $1.9 billion U.S. in a day’s …

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China Is In the Midst Of its Biggest Crisis in Decades

Last week was an eventful one for China. First, the People’s Bank of China shocked the financial world when it cut the yuan’s reference rate against the U.S. dollar by nearly 2 percent, leading to a greater than 2 percent drop in the value of the yuan in offshore trading. The …

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Weak Currency Makes Brazil a Shopping Paradise for Luxury Goods

Brazil Shopping

While Brazil’s currency, the real, is crippling the country’s economy and the nation is heading for its worst recession in a quarter-century, it’s great news for some shoppers for high-end goods. The plunge in the value of the Brazilian real, the world’s worst-performing major currency this year, made the luxury …

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Foreign Direct Investments up 87% in 2014

Georgia’s Foreign direct investments in 2014 increased by 86.6% year-on-year, amounting to USD 1.75 billion, the biggest inflow since 2007, according to the final figures released by the National Statistics Office, Geostat, on Monday. The final data has been revised significantly upwards from Geostat’s preliminary 2014 FDI figures, released in March, …

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Japan Hit by Weaker Economic Growth

Japan’s economy shrank in the second quarter of the year, marking a setback for the government’s reform policy. Between April and June, economic growth contracted by 0.4% compared with the first three months of the year. Lagging exports and sluggish consumer spending were the biggest contributors to the drop in …

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The Volume of Loans by Commercial Banks Reached 14 884.8 mln. GEL

In June 2015, the volume of loans to the economy (excluding interbank loans) recorded 14 884.8 mln. GEL, which exceeds by 32.6 % the corresponding indicator in June 2014. The volume of the loans denominated in national currency increased by 21.5 %. The volume of the loans denominated in foreign …

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NBG: The Volume of Money Transfers Declined in July 2015

NBG, publishes report about money transfers in Georgia, in July. In July 2015, the volume of money transfers from abroad constituted 93.4 million USD (210.7 million GEL), which is 31.8 percent (43.5 million USD) less than the amount in July 2014. 90.9 percent of the total money transfers from abroad came …

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Reuters: Georgia’s Economy Slows in H1 From Last Year

Despite the Stabilization of the Lari, Businessmen are not Going to Continue the Suspended Projects

International news agency Reuters publishes article, on behalf of Geostat‘s report and says Georgia’s economy slowed due to plunge in the Russian Ruble. Reuters also mentions declined exports, remittances and lowered country’s growth. Georgia’s economic growth slowed to 2.6 percent in the first half of this year compared with 6 …

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We will Have a Stable Lari Eventually, Says Minister of Economy

George Kvirikashvili, Minister of Economy and Sustainable Development and Vice Premier of the country, says it is no surprise that the GEL exchange rate did has not returned to its the previous position yet, because local currencies of all our trade partners are experiencing devaluation. George Kvirikashvili made this comment …

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Competition Agency Intends to Examine Flour and Pharmacy Markets

The Competition Agency has revealed the presence of cartel agreements on the Georgian fuel market and fined five largest oil companies 55 million GEL. According to the expert, the next markets the Agency will examine will probably be flour and pharmaceutical markets. “In regard to the oil companies, we are …

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Chinese Yuan Weakens Despite Stock Market Rise

With the market now cooling, the Chinese economy is losing a major boost, adding pressure on the government to take further action. The stock market rise was fast and furious. At their peak in mid-June, China’s main share indexes, the Shanghai and Shenzhen exchanges, had more than doubled over the …

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