Brent crude futures was at $78.42 a barrel, up $2.29, or 3 percent, at 2219 GMT after earlier hitting a session-high of $78.73 a barrel.

In 1Q2023 compared to the same quarter of the previous year the volume of business sector turnover increased by 14.4% and amounted to GEL 44.1 billion, - accoridng to the National Statistics Office of Georgia (Geostat).

“Georgia has steadfastly continued to support Ukraine in political, diplomatic, and humanitarian directions since the beginning of Russia’s full-scale military aggression in Ukraine,” reads the annual report of the Government of Georgia, scheduled for today’s session of the Parliament’s Bureau.

IATA on Monday more than doubled its 2023 profit forecast for the global airline industry despite a looming economic downturn.

Law enforcement officers are conducting investigations at the Casino Adjara.

As Irakli Garibashvili pointed out at the government meeting, the main determinant of the growth is peace and the correct policy pursued by the government.

Official value of the greenback became 2.6209 GEL.

In May 2023, Tbilisi International Airport served 270,001 passengers, the growth was 14% compared to May 2022. Which was 77% of the number of passengers that were handled in the same month of 2019.

"In other words, employment is at an all-time high and unemployment is at an all-time low. Also, poverty has been reduced and is at a historical low. For comparison, I would like to note here that the unemployment rate was 27% in 2010, and now it is 17%. Such a big progress in 10 years", said Garibashvili.

In May 2023 compared to May 2022 prices for food and non-alcoholic beverages decreased by 2.1%. Compared to April 2023 they were down 4.1%.

“The new airport should be of international standard, meeting modern passenger and transit logistics needs. We’ve also discussed building a cargo terminal and other relevant facilities. This project is ambitious but necessary for our country,” stated Garibashvili.

Clothing and footwear saw lowest annual price change with 19.5% in May, official figures reveal

TBC Bank Group (TBCG LN) closed the week at GBP 24.25/share (+1.25% w/w and +3.41% m/m). More than 199k shares changed hands in the range of GBP 22.50 - 24.35/share. The average daily traded volume was 65k in the last 4 weeks. The volume of TBCG shares traded was at 0.36% of its capitalization.

In April, GDP in the country increased by 0.1%, non-oil GDP by 3.7%.

The Ministry of Finance of Georgia published a financial document. As of April 2023, the external debt of Georgia amounted to USD 8.55 billion. Y-O-Y, the state foreign debt increased by USD 730 million, while the debt in the national currency decreased by USD 2.6 billion amounting to GEL 21.35 billion due to the strengthening of GEL against USD and EUR.

Simsek, who was highly regarded by financial markets when he served as finance minister and then as deputy prime minister between 2009 and 2018, said that lowering Turkey’s soaring inflation to single digits will be another priority.

Swiss cable car manufacturer BARTHOLET has entered Georgia. The company will study the possibility of introducing its innovative product in the country.

Russian wine suppliers have been facing difficulties due to EU sanctions. But Putin's favorite vintners have been trying to import material from Portugal and France through third-party countries.

IG Development, a real estate development company and holder of the City Mall chain, published a financial report for 2022. According to the company, its revenue increased by GEL 19 million up to GEL 80.2 million.