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Strong iPhone Sales Drive Record March Quarter Revenue and 15 Percent EPS Growth

Friday, April 25, 2014
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Georgian Weekly Market Watch (February 11 – February 15)

18/02/2013 19:37 (430 Day 02:11 minutes ago)

The FINANCIAL -- Last week, London traded Bank of Georgia Holdings (BGEO LN) closed at GBP 13.84 (+0.7% w/w). During the week, up to 311,000 shares were traded in the range of GBP 13.55–14.15


In the debt world, Georgia Sovereign (GEORG 04/21, -0.5% to 117.6) was down while Georgian Railway (GRAIL 07/22, +0.5% to 118.4), Georgian Oil and Gas Corporation (GEOROG, +0.1% to 105.2) and Bank of Georgia (GEBGG 07/17, 0.4% to 104.9), Eurobonds prices were all up.


On the Georgian Stock Exchange, no trades were recorded during a week, leaving BG Index at the same level of GEL 507.10.

Money market -- Last week, the National Bank of Georgia (NBG) issued 7-day refinancing loans in the amount of GEL 110mn with an average yield amounting 4.78% (down 49bps). NBG also sold  85-day, GEL 30mn Certificates of Deposits last week. The average yield was 5.75% (down 13 bps).


As for the treasury debt, NBG sold GEL 15mn nominal value 1 year T-bills; total demand amounted GEL 50.5mn, highest recorded since March 2011. In terms of yield, minimum yield was 5.82%, maximum yield 6.00%, weighted average yield fixed at 5.854% (down 24bps), lowest average yield recorded since April 2010.


The next auction is scheduled to be held on February 20,2013, where GEL 10mn T-notes with a term of 10 years will be sold.


Merchandise trade deficit decreased by 21% y/y in January -- Georgia’s foreign trade exports grew 25% y/y to US$ 196mn, while imports declined 6% y/y to US$ 468mn in January. The foreign trade deficit decreased by 21% y/y to US$ 272mn.

Georgia’s money transfer inflows grew by 11% y/y in January -- Total money transfers in January grew 13% y/y to US$ 104mn, as foreign workers sent US$ 94mn in remittances back to Georgia (up 11% y/y).


Russia accounted for around 50% of total foreign money transfers in January followed by Greece (13%) and Italy (8%).



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

23/04/2014 16:38 (1 Day 05:10 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.



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