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Thursday, April 24, 2014
News Making Money

Georgian Weekly Market Watch (January 14 – January 18)

21/01/2013 19:48 (457 Day 01:02 minutes ago)

The FINANCIAL -- Last week, London traded Bank of Georgia Holdings (BGEO LN) share price increased 3.2% to GBP 12.33. During the week, up to 287,000 shares were traded in the range of GBP 11.74-12.33.



In the debt world, Georgia Sovereign (GEORG, +0.8% to 118.2), Georgian Oil and Gas Corporation (GEOROG, +0.3% to 105.5), Georgian Railway (GRAIL 07/22, +0.5% to 118.0) and Bank of Georgia (GEBGG, +0.4% to 104.1) Eurobonds prices were all up.


On the Georgian Stock Exchange, only Liberty Bank (BANK GG) shares were traded closing at GEL 0.0065 (up 8.3% w/w), while the BG Index was almost unchanged at 485.0.

Money market -- Last week, the National Bank of Georgia (NBG) issued 7-day refinancing loans in the amount of GEL 300mn with an average yield amounting 5.26% (up 1bps). NBG also sold 84-day, GEL 30mn Certificates of Deposits last week. The average yield was 5.98% (down 16bps).


As for the treasury debt, Ministry of Finance sold one-year T-bills in the amount of GEL 10mn with the yield ranging between 6.08-6.10%. Average yield equalled 6.09% (down 19bps). The next five-years T-notes auction is planned for January 23 with total estimated emission of GEL 10mn.


Georgia’s money transfer inflows grew 7% y/y in December -- Total money transfers in December grew 9% y/y to US$ 146mn, as foreign workers sent US$ 134mn in remittances back to Georgia (up 7% y/y). Russia accounted for around 54% of total foreign money transfers in December followed by Greece (12%) and Italy (7%).



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“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (04:12 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.



Major Cloud Service Providers Slash Prices; Threaten Smaller Players’ Existence: IDC Warns

19/04/2014 13:40 (4 Day 07:10 minutes ago)

The FINANCIAL -- In the last week of March, major Cloud Service Providers (CSPs) in Asia dropped their prices for core services dramatically and IDC believes that this will make it very difficult for smaller CSPs to remain in business if they continue to rely on provision of basic, undifferentiated services, according to International Data Corporation (IDC).

Zurich identifies seven cyber risks that threaten systemic shock

23/04/2014 17:00 (03:50 minutes ago)

The FINANCIAL -- The recently published Zurich Cyber Risk Report, created in collaboration with the international think tank Atlantic Council, argues that cyber-risk management professionals need to look beyond their internal information technology safeguards to interconnected risks which can build up relating to counterparties, outsourced suppliers, supply chains, disruptive technologies, upstream infrastructure and external shocks, according to Zurich Insurance Company.


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