News of the day
The US State Department recently published a report lauding the investment environment in Georgia, attributing its success to economic stability and progressive reforms undertaken by the nation.
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Economics
Space International, a subsidiary of TBC Group, has partnered with Thoughtwokrs, a global tech consulting company. This is the first project of Thoughtworks in the Caucasus and Central Asia region. Within the framework of the partnership, Thoughtworks will help the first Georgian international financial-technological company - Space International, in tech transformation, introduction of updated engineering culture and strengthening of technical architecture.
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The leather accessories company Gepherrini is performing with 23% growth in 2022.
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Other news
The Communications Commission of Georgia is considering designating "Magti" as an operator with significant market power. If granted, this status would allow the Commission to impose new regulations on "Magti," which, according to Commission member Ekaterine Imadedze, would improve competition in the market. The proposed regulations include the admission of virtual operators and other measures to be defined for "Magti."
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The prices of shares of Georgian companies on the London Stock Exchange are falling. As a result of today’s trading, the values of shares of Bank of Georgia, TBC PLC, and Georgia Capital have decreased.
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Today, the National Bank of Georgia intervened in the foreign exchange market, selling $60 million to provide liquidity amid recent volatility.
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The European Union (EU) has reiterated its support for the Georgian people's commitment to democracy and their European future. The EU has condemned the recent incidents of intimidation, threats, and physical assaults on civil society representatives, political leaders, journalists, and their families, calling these actions unacceptable and urging Georgian authorities to investigate these documented acts thoroughly.
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