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The FINANCIAL -- InterContinental Hotels Group has signed a franchise agreement with the JHV group for two new properties in the heritage city of Varanasi.
The FINANCIAL -- InterContinental Hotels Group (IHG), one of the world’s leading hotel companies and Oman Tourism Development Company (OMRAN) proudly announces the opening of Crowne Plaza Oman Convention and Exhibition Centre in Muscat. The newly opened hotel will be the second Crowne Plaza in the capital and the fifth in Oman, demonstrating the increasing popularity of the brand in the Sultanate.
The FINANCIAL -- Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, will invest more than $300 Million to expand its integrated refining & petrochemicals platform located in Daesan, South Korea.
The FINANCIAL -- Around 60 per cent of all new Panamera models that have been delivered in Europe were equipped with a hybrid drive. The new Panamera plug-in hybrid models were launched on the European market in June 2017. In some countries, the proportion of hybrid vehicles is even higher.
The FINANCIAL -- BMW Group sales continued their positive trend last month with a total of 220,649 vehicles delivered to customers, an increase of 5.2% and a new all-time high for the month of November.
The FINANCIAL -- Croatian bancassurer Erste osiguranje is due to merge with Wiener osiguranje at the end of April 2018, subject to the approval by local authorities. Vienna Insurance Group (VIG) is looking to capitalise on the strengths of its two Croatian brands by combining them in a single company, with a view to expanding the bancassurance business.
The FINANCIAL -- In January-November of 2017, Ukraine supplied 5.35 mln tonnes of sunflower oil on foreign markets, reported the State Fiscal Service of Ukraine.
The FINANCIAL -- According to preliminary figures, in 2017 the production of grains and pulses in Ukraine in registered weight will vary within the range of 62.3 mln tonnes, with the average yield of 4.28 t/ha, reported the Ministry of Agrarian Policy and Food of Ukraine on December 8.
The FINANCIAL -- A University of Liverpool led international clinical trial has found an anti-impotence drug to be ineffective at improving outcomes for pregnancies complicated by fetal growth restriction.
The FINANCIAL -- A Ukrainian court is set to decide on December 11 whether to impose pretrial restrictions on jailed Ukrainian opposition leader Mikheil Saakashvili’s movements.
The FINANCIAL -- Seventy-two percent of Americans believe the U.S. healthcare system is "in a state of crisis" or "has major problems," almost the same percentage (71%) who felt that way a few months before the Affordable Care Act was passed seven years ago.
The FINANCIAL -- Foreign direct investment in Georgia reached USD 594.5 million in the third quarter of 2017, which is 17.6% increase compared to the same period of last year, according to the preliminary data released by the State Statistics Office on December 11.
The FINANCIAL -- The Asian Development Bank (ADB) has approved $750,000 to Indonesia to provide knowledge support and technical assistance to study the impact of disruptive technologies on the Indonesia economy.
The FINANCIAL -- Stronger domestic demand, robust export-oriented manufacturing, and a gradual recovery of the agriculture sector, are driving Vietnam’s economy, which expanded by 6.4 percent during the first nine months of the year compared to the same period last year, says a new World Bank report.
The FINANCIAL -- If the Parliament of Georgia legislates marijuana consumption, distribution and cultivation to be legal, the extent of the local market will be increased by over GEL 1.3 billion in 2018. At least 2 million tourists will visit Georgia in 2018, resulting in increased incomes of GEL 570 million.
The FINANCIAL -- Transfer Pricing Rules were implemented by the Government of Georgia in 2011, based on OECD guidelines. Since the number of international companies in Georgia is increasing steadily, Transfer Pricing Rules have become a point of obvious interest. However, multinational companies operating in Georgia are not sufficiently well-informed about the rules.
The FINANCIAL -- At the session of the Parliament of Georgia, European Georgia – Movement for Freedom member, Zurab Chiaberashvili, highlighted the negative trends in the field of agriculture and remarked: “In the third quarter, at the peak of tourism, consumption and, therefore, local production should have both increased. We see that the production of meat, milk and eggs decreased.”
The FINANCIAL -- On 28 November 2017, in his speech at the Tbilisi Silk Road Forum, the Prime Minister of Georgia, Giorgi Kvirikashvili, stated: “We are the only country in this region1 which has free trade agreements with both the EU and China.”
The FINANCIAL -- The Khachapuri Index continued its upward trend in November 2017, with the average cost of cooking one standard Imeretian Khachapuri reaching 3.70 GEL. This is 1.8% higher month-on-month (compared to October 2017), and 7.1% higher year-on-year (compared to November 2016). In general, the increasing trend at this time of the year is driven by the seasonal decline in the supply of fresh milk, and excess demand before the start of the fasting period. This leads to a corresponding increase in cheese and other milk product prices.
The FINANCIAL -- In October 2017, Georgian power plants generated 828 mln. KWh of electricity, marginally up (+0.79%) compared to September. Following the traditional seasonal pattern, the share of electricity produced by renewable sources declined to 71% of total generation (87% in September), while thermal power generation’s share increased, accounting for 29% of total generation (compared to 13% in September). When we compare last October’s total generation with the total generation of October 2016, however, we observe an 8.7% decrease in total generation (in October 2016, total generation was 907 mln. kWh). The overall decline in generation with respect to the previous year is due to a simultaneous decline in both thermal power and hydro power generation.