The FINANCIAL - Opinion

The FINANCIAL -- European banks must initiate an overhaul in order to fend off new and varied challengers as the spectre of Brexit looms over the sector. This is a key finding of a new report by PwC which predicts the banking industry is set to emerge from the recent crisis into a radically different regulatory, technological and economic environment that will shape its profile and structure for the next decade and more.

The FINANCIAL -- Muslims are the fastest-growing religious group in the world. The growth and regional migration of Muslims, combined with the ongoing impact of the Islamic State in Iraq and Syria (ISIS) and other extremist groups that commit acts of violence in the name of Islam, have brought Muslims and the Islamic faith to the forefront of the political debate in many countries. Yet many facts about Muslims are not well known in some of these places, and most Americans – who live in a country with a relatively small Muslim population – say they know little or nothing about Islam.

The FINANCIAL --Georgia’s foreign trade turnover in the first half of 2016 declined by 11% year-on-year to USD 4.22 billion, excluding one-off import of USD 1.48 billion worth donated C hepatitis medicines, according to the figures released by the state statistics office, Geostat, on Tuesday.

The FINANCIAL -- Widespread urban adoption of self-driving vehicles (SDVs) and “robo-taxis,” or self-driving taxis, could result in a 60% drop in the number of cars on city streets, an 80% or greater decrease in tailpipe emissions, and 90% fewer road accidents, according to a new report by The Boston Consulting Group (BCG) prepared in collaboration with the World Economic Forum.

Georgia has a trade deficit with many countries, due to various reasons including the lack of manufacturing, qualified staff, and oil reserves in our nation. In 2014, exports totaled $2,861 million, while imports stood at $8596 million. That brings our negative trade balance (the value of exported goods minus the value of imported goods) to $5735 million. This is obviously not good for the economy. 

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