Janet Yellen is soft spoken. But when the US Federal Reserve Chairwoman speaks, the Earth shakes. Last month she took the podium at the Federal Open Market Committee (FOMC) meeting in Washington, D.C and announced the Fed will raise interest rates for the first time since 2006.

The FINANCIAL -- The New Year is approaching, and Georgian housewives are already preparing for this great event. So does the ISET-Policy Institute. The special dish we have cooked for our readers is a New Year Supra Index.

The FINANCIAL -- The discussion about nature vs. nurture is over. Neuroscience shows that, while the genes supply the basic blueprint, it is experience and the social environment to which a child is exposed in her early life that determines her brain development. 

The FINANCIAL -- The average cost of cooking one standard portion of Imeretian Khachapuri increased to 3.66 GEL in November 2015. This is 1.4% higher m/m (compared to October 2015), and 9.6% higher y/y (compared to the same month of previous year, November 2014). Given that it mostly consists of food prices that are subject to sharper seasonal fluctuations, the upward trend in Khachapuri Index is somewhat steeper than that of GeoStat’s official Consumer Price Index (CPI). The latter is up 0.3% m/m, and 6.3% y/y. 

This article intends to show that public funds spent on defence provide value to the general population because a modernized Georgian Armed Forces will be more likely to deter potential aggressors to Georgia’s national sovereignty.


The FINANCIAL -- Rati, Lasha and Irakli are first year engineering students at the Georgian Technical University (GTU). Rather unusual students, one should add. At 22-23, all three are very much alive. Yet, they never attend classes and are not taking exams.

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