Zurabishvili and Kobakhidze to receive highest salaries in Georgia
Next year, salaries of government members and deputies in Georgia will be calculated using a new formula. The President and the Prime Minister will earn the most.
finances
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Turkish banks resume opening accounts for Russians
Turkey's state-owned banks continue to open accounts for Russian citizens, but if certain conditions are met, including a Turkish residence permit and a work …
Transfer spending by football clubs reaches record high in 2023
Clubs worldwide spent a record $9.63 billion on international transfers in 2023, an increase of nearly 50% compared to 2022, FIFA said. After transfer spending fell in 2020 and 2021 due to the financial impact of the COVID-19 pandemic, …
Israel to transfer frozen funds designated for Gaza to third-party country
Israel's cabinet approved a plan for frozen tax funds earmarked for Gaza to be held by Norway instead of transferred to the Palestinian Authority, officials said. Istaeli Prime Minister Benjamin Netanyahu said the cabinet …
Turkish banks to use 'inflation accounting'
Turkey's banks and other financial institutions will have to wait until 2025 to apply inflation-adjusted accounting to their balance sheets, the BDDK banking watchdog said. "It has been decided that banks, …
Azerbaijani oil price rising
The price of Azeri Light Azerbaijani oil on the world market increased by $2.75 or 3.4% to $83.45, Trend reported, citing the source from the country's oil and gas market. The Azeri Light crude oil price based on CIF in the Italian …
Azerbaijani-Turkish investment forum opens in Baku
Azerbaijani-Turkish investment forum has kicked off in Baku. The forum will evaluate potential to increase Azerbaijani-Turkish collaboration in …
Central Bank of Azerbaijan lowers interest rate
Azerbaijan's Central Bank (CBA) has lowered the benchmark interest rate from 8.5% to 8%. According to the CBA …
Bank of Russia raises key rate at last meeting in 2023
The board of directors of the Bank of Russia raised its key rate from 15% to 16% per annum at this year’s last meeting, noting that the return of inflation to target in 2024 assume that tight monetary conditions will be maintained in the …
Ilham Aliyev: Azerbaijan is a reliable country between Asia and Europe
Ilham Aliyev said that Azerbaijan had invested more than $20 billion in the economy of the Turkic states. He noted that the country made a valuable contribution to the work of the East-West corridor.
Former Sberbank subsidiary in Kazakhstan could be acquired by new investor
An investor from Qatar is evaluating Kazakhstan's Bereke Bank - a former subsidiary of Sberbank, chairman of the Agency for Regulation and Development of the Financial Market of Kazakhstan Madina Abylkasymova said.
Kazakh Senate ratifies creation of Turkic Investment Fund
Deputies of the Senate of the Kazakh Parliament approved the law "On ratification of the Agreement on the establishment of the Turkic Investment Fund." The initial capital of the Turkic Investment Fund will be $500 million. …
Georgian authorities promise to increase pensions
Georgian authorities have announced pensions increase in 2024
Russian central bank proactively hikes key rate
Russia's Central Bank decided at its board of directors meeting on Friday to raise its key interest rate by 100 basis points to 13%. The Central Bank said that inflationary pressure in the Russian economy remains high. The …
E-commerce sector grows in North Caucasus
In the republics of the North Caucasus, the popularity of e-commerce is growing
Oil, gas, flour: what does Georgia import from Russia?
Russia and Georgia have increased trade by almost a quarter since the beginning of 2023. The export of Georgian goods to Russia has also grown by more than 25%, Georgia supplies water, wine and cars. Russia sells oil, gas and flour.
Russia wants to unblock foreign assets in move to get its own holdings back
Russia’s government and the Bank of Russia have drafted a decree on unblocking a chunk of foreign assets to be exchanged for Russian …
Russian central bank hikes key rate to 12% in extraordinary meeting
Russia’s central bank sharply made a large interest rate hike of 3.5% at an emergency meeting on Tuesday. The decision to bring the key rate to 12% was announced after an emergency meeting of the bank’s board of …
South Korea to return to Iran access to previously frozen $6 billion
According to the agreements concluded by the Islamic Republic with the USA, Iran will get access to $6 billion previously frozen by South Korea.
Georgian and Armenian banks suspend transactions using Unistream
Four Armenian and three Georgian banks have suspended interaction with the Unistream payment system. "Ardshinbank has stopped making money transfers using the Unistream system. We apologize to our clients and propose …
