ePaper_The FINANCIAL_May 10_2021

Having a baby during COVID-19 gave me new respect for the job ‘mom’ See on p. 4

Resiliency is the new normal for the CRE market See on p. 7

News Making Money The Pandemic’s Effects Have Widened the Gap Between Industry Leaders and Laggards in Value Creation upheavals induced by COpreexisting gaps between leaders and laggards across industries and regions in Rankings, released today by which shed light on patterns world’s top value creators.

Continued on p. 6

CURRENCIES

Views About National Identity Becoming More Inclusive in U.S., Western Europe Pew RESEARCH

A

s issues about culture and identity continue to be at the

that views about national identity in the U.S., France, Germany and the UK have become less restrictive and

3.4324 4.1450 4.6319 0.4147

3.4464 4.1529 4.5960 0.4129

born in the country, must be a Christian, has to embrace national customs, or has to speak the dominant language.

virus pandemic cannot be overstated. The 2020 global economy contracted by 3.7 percent, the most since

have also become more likely to believe that immigrants want to adopt the customs and -

our Global Economic Outtrade collapsed even more dramatically last year—by

pressing this view in Germany

historically

over the same time period.

in global output and trade in goods in services, had already started to decline

Continued on p. 14

correspond

year, they declined even more precipitously—by a

staggering 42 percent, according to the United Naand

Development

(UNC-

demic on direct investment lasting. Our estimates suggest that the world could be looking at a multiyear longlikely not be surpassed until tive assumptions, it could apogee.

Continued on p. 3

ISET Electricity Market Review | The Third How much do governments Record-breaking Month in a Row: Highest Gap and Highest Imports, Import Prices Remain Low spend on fire-protection?

T

he electricity generation-consumption gap kept widening over the

2020. This trend continued in and February, consumption exceeded total generation by 374 mln. kWh and 377 mln kWh, respectively (the equiv-

cases were record-breaking.

-

22 EU Member States with available data, representment in these countries. The

Continued on p. 2

Continued on p. 3

7

TBC CONCEPT

M A R J A N I S H V I L I

S T.

1 USD 1 EUR 100 RUB 1 TRY

April 24

rope and Donald Trump’s presidential campaign in the U.S. made immigration and diversity a major issue on

political debates in the United States and Europe, a new Pew

ISET May 8

more inclusive in recent years.

The 2021 Foreign Direct Investment (FDI) Confidence Index

© 2021 The FINANCIAL. INTELLIGENCE BUSINESS PUBLICATION WRITTEN EXPRESSLY FOR OPINION LEADERS AND TOP BUSINESS DECISION-MAKERS

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HEADLINE NEWS & ANALYSIS 10 May, 2021 | FINCHaNNEL.COM

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10 May, 2021 G-Force Euro Diesel

©

2.77

17 (751)

Prices in GEL

Prices in GEL

Prices in GEL Eko Eko Eko Euro Diesel

2.79

Diesel Energy

2.72

Super Ecto

2.92

Euro Deasel Ecto

2.78

10 May, 2021, GEORGIa

Prices in GEL

GASOLINE PRICES PRESENTED BY Euro Regular

2.72

Euro Diesel

2.78

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ISET KHACHAPURI INDEX | APRIL, 2021: KHACHAPURI INDEX INCREASES BY 6%

T

cooking one standard -

declining trend is expected, which is largely driven by a springtime and milk products. However, the against the US dollar still has an imported

khachapuri

ingredi-

Download RATE CARD

milk could not outweigh the imdepreciation and more expensive imports.

DISTRIBUTION The FINaNCIaL distribution network covers 80 % of key companies operating in Georgia. 90 % is distributed in Tbilisi, Batumi and Poti. Newspaper delivered free of charge to more than 600 companies and their managers.

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increased by 6%. The reason behind this might well be the Easter Holiday. This year, Easter was cel-

ucts during the week prior to Easter. Thus, this increased demand -

Taking a more detailed look at prices, all ingredients contrib-

Georgia. There is typically greater

internationally traded commodidiate inputs (butter and milk).

CONTACT US EDITOR-IN-CHIEF ZVIAD POCHKHUA E-MaIL: Phone: (+995 32) 2 252 275 HEaD OF MaRKETING DEPaRTMENT SOPHO PKHAKADZE Phone: (+995 32) 2 252 275 / EXT: 1 COMMERCIaL DIRECTOR LALI JAVAKHIA Mobile: 558 030303 SaLES MaNaGER OMAR KHOPERIA Phone: (+995 592) 072 159 HEaD OF DISTRIBUTION DEPaRTMENT TEMUR TATISHVILI Phone: (+995 599) 64 77 76 COMMUNICaTION MaNaGER EKA BERIDZE Phone: (+995 577) 57 57 89 COPy EDITOR IONA MACLAREN MAILING ADDRESS: 17 mtskheta Str. Tbilisi, Georgia OFFICE # 4 PHONE: (+995 32) 2 252 275 (+995 32) 2 477 549 FaX: (+95 32) 2 252 276

ISET Electricity Market Review | The Third Record-breaking Month in a Row: Highest Gap and Highest Imports, Import Prices Remain Low ISET

T

he electricity generation-consumption gap kept widen-

This trend continued in the February, consumption exceeded total generation by 374 mln. kWh and 377 mln kWh, respectively (the equivalent were record-breaking. March

generation. Total generation basis, while consumption inbasis, generation decreased by Intelligence Group ltd. 2021 Member of

Supply Side of the Market

the total electricity generated, hydro power plants (HPPs) remained the top suppliers.

Thermal power plants (TPPs) also provided a contribution

wind power plants (WPP) acworth noting that hydro power generation reached an 8-year

The main cause is that the Enguri HPP, which is the largstopped throughout the whole Continued on p. 11

3

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

news

The 2021 Foreign Direct Investment (FDI) Confidence Index virus pandemic cannot be overstated. The 2020 global economy contracted by 3.7 percent, the most since

-

-

our Global Economic Outlook lapsed even more dramatipercent

according

to

the -

-

correspond closely with the

the continued slide in China’s

and trade in goods in services, had already started to decline

year. The Chinese economy has made the most rapid and

year, they declined even more precipitously—by a staggering 42 percent, according to the

among the world’s major economies and is poised to regain high growth this year -

on Trade and Development

likely to be long-lasting. Our estimates suggest that the world could be looking at a multiyear long-haul recovery

global supply chains, along with broader concerns about global trade and investment

peak levels will likely not be under less positive assumptions, it could take as much their earlier apogee.

Given these dynamics, it’s not surprising that inves-

and 72 percent just one year ago.

dents were less optimistic about the three-year outlook suggesting concern about how quickly the economy expressed optimism about the global economy this year, which is much lower than the

acterized by greater caution

-

observed in prior years.2 The -

pared with previous years.

-

the same six economies were

higher scores than in 2020, -

dex respondents say they expect a long haul and a tenuous

Rankings

year marks the third time in dex—and the third consecutive year—in which the top veloped economies. Further-

How much do governments spend on fire-protection?

-

countries. The vast majority

Spotlight on government expenditure

States with available data, Romania and Estonia recorded -

States’ government expendies’ amounted to €30.9 billion.

This expenditure is equivament expenditure, which is less than the amount spent on police services (expenditure -

EU Member States with avail-

include only three developing

Overall, in the EU, public

tion services remained stable expenditure since the beginlowest in Denmark and Malta penditure to total expenditure varied across EU Member -

Denmark.

The United States ranks

ranking, it is noteworthy that

attacks, along with uncertainthe presidential inauguration minished the country’s score overall. Canada remains second, with Germany maintainUnited Kingdom rejoins the

ing markets” section.)

Regardless, the regional mains similar to last year. The represented by three markets: the United States, Canada,

With Taiwan (China)’s exit decreases by one spot to six,

three years in a row, a position Continued on p. 13

4

HEADLINE NEWS & ANALYSIS 10 May, 2021 | FINCHaNNEL.COM

news

Do you protect personal data on your smartphone?

Having a baby during COVID-19 gave me new respect for the job ‘mom’

By KIRSTEN SALYEROPINION EDITOR World ECONOMIC FORUM

I

had a baby during the pandemic and everything changed.

-

the other roles that came with my

The FINANCIAL

I

an app on the smartphone they never sonal data such as their location or con-

in the three months prior to sponded that when using or installing

al data when using or installing an app.

-

-

to their personal data when using or

Highest self-data protection in Sweden, lowest in Croatia and Czechia

tainty and anxiety that has blanketed who laboured in a mask or breast-

TBC Concept Flagship –Embodiment of the brand and the product

T

school or came up with yet another quarantine-approved activity. late-night cuddles and countless diaper changes, two things quickly became clear: Motherhood is a joy, and motherhood is work. the challenges that mothers around threat and resulting economic downturn have created a caregiving -

in the country to its customers in its historic building and HQ at 7 Marjanishvili street. The multi-

This year, Mother’s Day brings we may celebrate motherhood, but we don’t value it.

phasizes the brand story and values ence, new opportunities and discoveries.

The cost of motherhood

-

-

years are available to all visitors at one place.

lowing pregnancy and childbirth each year, according to World Health Organization estimates. That number

ent events, exhibitions and meet-

tratingly high, especially considering that most maternal deaths are preventable.

The economic picture is also bleak

visitors.

paid work - including childcare - as men, according to the OECD. One cal-

the city will be a distinguished place

Co.

management jobs that primary care-

background, helps them to get in-

toric building.

-

Library: brary, which is especially cozy, leads visitors to new discoveries. One can

books on business management, culture or innovations here.

Exhibition Halls: Three galleries continue the hisit has been supporting Georgian art and new artists and their projects.

Cafe:

-

are tailored to business meetings.

Co-working Space

Banking Space:

sonal banking service and consulta-

such as small lunch breaks, visiting exhibitions, discover new books at

-

Collection.

Collection: Collection is a small, museum shop style, retail space within the ideas. The shop will also display the

your ideas. Here, during the breaks,

to planning activities to helping with homework - estimated that a true sal-

tive career progression. Parental leave -

Continued on p. 6

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

5

6

HEADLINE NEWS & ANALYSIS 10 May, 2021 | FINCHaNNEL.COM

news

The Pandemic’s Effects Have Widened the Gap Between Industry Leaders and Laggards in Value Creation

Micro highgrowth enterprises tend to be young The FINANCIAL – High-growth enterprises (HGEs) have a prominent role in creating employment and economic growth.

Micro high-growth enterprises, employing less than 10 employees before starting their rapid growth, are among the most dynamic enterprises in our economies. enterprises that are 5 years old or younger. The share of young micro HGEs is roughly in the range of 25-35% of all micro HGEs. In comparison, among the micro enterprises in general the share of young enterprises is only about 15-20%.

Looking at different sectors, young micro high-growth enterprises are most commonly found in the Information and communication sector, Accommodation and food services, and in Administrative and support services. In these three sectors more than 30% of the highgrowth micro enterprises were 5 years old or younger.

On the other end of the scale, less than 25% of all micro high-growth young in the Wholesale and retail trade.

ally widened preexisting gaps between leaders and laggards across Value Creators Rankings, released

TSR at approximately 2,400 companies globally (slightly more than -

world’s 200 largest companies by market valuation, we rank the top dustry sectors.

TSR measures share price gains

aging director and senior partner. cord-high expectations and valuater waiting out the market turbulence.” value-creating companies, mea-

companies, the average annual earlier.

light on patterns and characterators.

“The widening gap in value creation trajectories raises the stakes

machinery, media and publishing, and health care services.

-

holder return (TSR) over the pre-

nies are reasserting their domicompanies as value creators. They are overrepresented among both

across industries. For example, technology companies delivered travel and tourism and oil and gas value creation during the global pandemic. strong rebound during 2020 sets value creation. “To meet or beat

Companies

years covered in the analysis.

The pandemic did not derail the

in

technologyogy companies as well as medtech ture providers, and green energy rankings. The top echelon also includes traditional brick-andmortar industries that have become more technology enabled or digitized in recent years, such as

pandemic value creation, compaoritizing the right investments,” and associate director. “Doing so entails developing key technologies and talent, making the right well-aligned sustainability strategy.”

Sharing Kindness is Important

S

ocial

responsibility

is -

Capital Group. The group

them are well known to the public scholarships or projects. Smart Capital Group Social Responsibilby businessman and philanthropist Ivane Chkhartishvili with Nana Gotua many years have been making sig-

needs.

This year, as usual, a charity project was held at the initiative

Having a baby during COVID-19 gave me new respect for the job ‘mom’

the entire Smart Capital Group, to celebrate the glorious holiday St. Michael, the necessary supplies ander Galdava has headed the Can-

Continued from p. 4

ten too little or perpetuate biases that The pandemic has widened these inequalities. Globally, women’s job twice as high as male job loss rates, according to McKinsey estimates. The analysis suggests that the gendered na-

hospitality, retail and care-work. ried mothers were among those hit the hardest. example, a September 2020 study en and 4,000 men in 38 countries times as likely as men to report expetite, inability to sleep and trouble ing to the survey, women attributed the sharp rise in unpaid care burin addition to concerns about their global gender gap - the time it would

Group is to develop and take care ees, customers, investors, partners the Easter charity project with the group. Sharing kindness is important, Christ is Risen!

with men across economics, education, health and politics - stretched the World Economic Forum’s Global rate, we won’t start seeing true gender equality until at least my greatgreat-great-grandchildren are born.

7

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

news

Resiliency is the new normal for the CRE market

Commercial real estate experts are once again bullish about the market after an uncertain 2020 The FINANCIAL

C

in the 2020 Survey and on par with pre-pandemic optimism indicated in positive outlook is largely attributed dents say they believe US GDP will return to pre-pandemic levels within This optimism may be understated, as the Commerce Department recent-

ommercial real estate (CRE) experts’ outlook on the CRE market has returned to optimism, -

optimism, which we believe is a sign

-

Piper’s Real Estate practice. “Solid

experts and leaders on economic recovery, attractive investment markets and general market outlooks.

Survey, when most respondents were bearish due to uncertainty creanticipate a bullish market in the

the most attractive risk-adjusted opportunities in the US: logistics and housing as the most attractive asset

“We are excited to see the resilien-

ample debt and equity capital lead over the next year.”

Favored asset types and cities For several surveys in a row, two

respectively, see these asset classes ening travel restrictions, 22 percent -

hospitality. the second time in a row.

believe there will be an increase percent, anticipate it will take at ing vacancy to bounce back to prepercent, say it will take more than three years.

Despite uncertainty concerning

-

logistics and data center properties line goods and made those property types even more attractive to investors,” says Sullivan. science/biotech related real estate demic, but the pandemic has shined a bright light on the potential growth tels/lodging, as 49 percent, 32 per-

respondents show less interest in investments in larger cities, some highly populated areas such as Mi-

spondents anticipate roughly three

growth during the pandemic, saw a

-

The return to work and future Remote work will continue to im-

-

spaces, a substantial return to the previously expected.”

8

HEADLINE NEWS & ANALYSIS 10 May, 2021 | FINCHaNNEL.COM

news

Business registrations and bankruptcies in the EU remain stable in Q4 2020

India-EU trade in goods: €0.9 billion deficit in 2020 exports) and also the eleventh extra-EU imports). €32.2 billion and imports to

lion), it did not return to the recorded a surplus. were dominated by “machinery and vehicles”, “chemicals”

partner with India States, the largest extra-EU dia in 2020 was Germany

products”, which together acdominated imports, making up

(all around €3.9 billion).

Germany was also the largest

improved

the previous quarter (down by quarter when many EU Member States re-introduced some new businesses remained almost the same compared with

new business registrations -

the series and then rebounded.

2020 compared to the third quarter 2020.

Journalism and publishing activities in 2020 there were almost 393 thouMember States with available total employment in these EU women and men were almost

tivities associated with journalism, almost 789 thousand were employed in the 27 EU Member States in publishing activities such as the publicamagazines and journals. This EU employment.

-

people employed in publish-

Sweden recorded the highest

by Finland, Denmark and

compared

with

main trade

(€3.0 billion).

9

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

news

WHO listed What a difference a year makes - impact of COVID-19 pandemic on EU energy supply in 2020 Sinopharm COVID-19 The FINANCIAL

S

ince early 2020, restrictive measures have been taken

tories, schools and restaurants, and reMember States began removing some

and restrictive measures were again

Inland deliveries of petroleum products -

and diesel oil also recorded a decrease Member States in autumn 2020 did els as much.

Inland deliveries of gas and coal Natural gas is used in the produc-

gas. The restrictions imposed by many EU Member States in spring 2020 had a larger impact on gas deliveries than the restrictions reintroduced in many

deliveries had completely returned to last year’s levels. ing phased out in many EU countries, however, most EU countries still conusing less coal overall, in 2020 close livered to electricity and heat generation plants.

Sludge factory opened in Poti Free Industrial Zone

I

sports masks. Despite the

tion process, provide appropriate them.

The company sews masks that are used under the carting helmet, the masks will be exported to EU countries as Georgian products.

Polish investment in the textile ployed.

-

attended by the State RepresentaMalkhaz Toria, st. Poti Mayor GoEbralidze and Tamar Sekhishvili, invited guests.

The company plans to sew more sports accessories and increase the

vaccine for emergency use The FINANCIAL – WHO listed the Sinopharm COVID-19 vaccine for emergency use, giving the green light for this vaccine to be rolled out globally. The Sinopharm vaccine is produced by Beijing Bio-Institute of Biological Products Co Ltd, subsidiary of China National Biotec Group (CNBG).

“The addition of this vaccine has the potential to rapidly accelerate COVID-19 vaccine access for countries seeking to protect health workers and populations at risk,” said Dr Mariângela Simão, WHO Assistant-Director General for Access to Health Products. “We urge the manufacturer to participate in the COVAX Facility and contribute to the goal of more equitable vaccine distribution.”

WHO’s Emergency Use Listing (EUL) is a prerequisite for COVAX Facility vaccine supply. It also allows countries to expedite their own regulatory approval to import and administer COVID-19 vaccines.

The EUL assesses the quality, vaccines, as well as risk management plans and programmatic suitability, such as cold chain requirements. The assessment is performed by the product evaluation group, composed by regulatory experts from around the world and a Technical Advisory Group (TAG), in charge assessment for an independent recommendation on whether a vaccine can be listed for emergency use and, if so, under which conditions.

In the case of the Sinopharm vaccine, the WHO assessment included on-site inspections of the production facility.

The Sinopharm product is an inactivated vaccine called SARSCoV-2 Vaccine (Vero Cell). Its easy storage requirements make it highly suitable for low-resource that will carry a vaccine vial monitor, a small sticker on the vaccine vials that change color as the vaccine is exposed to heat, letting health workers know whether the vaccine can be safely used.

WHO’s Strategic Advisory Group of Experts on Immunization (SAGE) has also completed its review of the vaccine. On the basis of all available evidence, WHO recommends the vaccine for adults 18 years and older, in a two-dose schedule with a spacing of three to four weeks. Vaccine hospitalized disease was estimated to be 79%, all age groups combined.

Few older adults (over 60 years) were enrolled in clinical trials, so in this age group. Nevertheless, WHO is not recommending an upper age limit for the vaccine because preliminary data and supportive immunogenicity data suggest the vaccine is likely to have a protective effect in older persons. There is no theoretical reason to believe that the vaccine older and younger populations.

WHO therefore recommends that countries using the vaccine in older age groups conduct safety and effectiveness monitoring to make the recommendation more robust.

10

HEADLINE NEWS & ANALYSIS

news

10 May, 2021 | FINCHaNNEL.COM

11

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

news Global VC investment shatters record, report The FINANCIAL

ISET Electricity Market Review | The Third Record-breaking Month in a Row: Highest Gap and Highest Imports, Import Prices Remain Low

G

lobal VC investment

billion, , says KPMG Private Enterprise Venture Pulse.

move at an incredible pace, with -

Continued from p. 2

month, thus generating no elec-

- a quarterly report published by KPMG Private Enterprise.

due to its continuing rehabilitation (Enguri HPP started generating again on the 27 th While the Enguri’s generation

-

sonal HPP and small HPP generation, respectively, as well (Figure

deals achieved in Q4’20. deals by companies located in the

expected to increase to compen-

The remaining gap had to be closed by importing electricity

billion to the quarterly global investment total - including a $3.4 billion raise by US-based Robinhood, a $3 billion raise by Chinabase Xingsheng Selected, and a

the

based Klarna.

previous

months,

Georgia

its in Q4’20, VC-backed exit activcontribution to total imports was -

rect listings, secondary listings, market has blown wide open” said Private Enterprise Emerging Gi-

compared to 2020.

Were import prices to increase, closing the gap by importing electricity could become expensive.

On the positive side, the weighted average electricity import price

portunity to go public more quicking created, this will likely remain

average import price decreased

and into 2022.” $98.2 billion across 7,329 deals

an increase in import prices on a monthly basis, the weighted average import price increased by

$74.4 billion in investment across

VC though. The extremely low prices Q4’20.

investment

in

Europe -

-

tetri per kWh in March) (Figure -

compared to historical norms,

ing the Enguri HPP rehabilitation

-

403 rounds in 2020.

VC-backed exit activity rose to

Demand Side of the Market

respectively. The increases in all

Now, let us turn to the demand

in March 2020, when extremely strict regulations were imposed to

surprisingly, demand on electricity increased.

Telasi, and direct customers in-

Main Conclusions

was characterized by an increase in consumption, and a decrease in generation, causing the gap to widen and reach a remarkable high once again (the gap had hit a -

generation will continue to be low Enguri and the seasonal increase in

HPP generation overall will start closing the generation-consumption gap. The dynamics on the dehere, and considering the very slow regulations might be the only op-

Median deal sizes rose across all -

The median global pre-valua-

decrease demand on electricity in the upcoming months. To sum up, wide generation-consumption gap, while May and the summer months

-

12

HEADLINE NEWS & ANALYSIS 10 May, 2021 | FINCHaNNEL.COM

news

Global executives concede to challenges in realizing divestment benefits elsewhere. Despite these chaler capital allocation decisions in a disrupted business environ-

78% say they held onto assets too long, an all-time high 76% expect the

to accelerate divestment plans, their next divestment within two

of the pandemic to accelerate divestment plans

opportunities provided by a rosions are based on short-term -

By KONSTANTINOS MAKRYGIANNIS

D

-

espite an anticipated rebound in corporate divestment activity, global executives admit that realizing the

should be closely aligned with the overall corporate strategy nology or additional capabilities to give the remaining business a competitive advantage, or the

pursue has been challenging, acCorporate Divestment Study. price expectations in their most time, more than three-quarters

79% SAY THEY FAILED TO MEET PRICE EXPECTATIONS IN THEIR MOST RECENT DIVESTITURE

business should be central to the decision-making process. Understanding a divestment’s role in strategy is critical to capturing new growth and increasing stakeholder value and our survey shows respondents now better

strategic reviews have resulted generate the valuation multiple most recent divestment did not

had planned.

tives shows more companies than year history hold onto businesses

are now an unnecessary draw on tal that could be better deployed

executives to create a stronger link between the two.”

The 2021 Foreign Direct Investment (FDI) Confidence Index pandemic recovery everywhere.

Continued from p. 3

gest risk that international investors -

There are some notable changes in

will be vital to the global economic

-

nomic growth in the near term will be determined in large part by the -

tudes about the economic outlook

-

Germany, Canada, and Switzerland,

the economic recovery will be highly uneven given the emerging and developed market disparities in vaccine distribution, which will in turn

most optimistic economic outlook in net terms. The relative strength have strengths in technology and are wealthy markets with high consumer purchasing power. Neverthe-

to advanced economies but also by and a more general corporate re-

contrast, investors were least bullish outlook was likely driven by internal

cember.

-

Weak showing of emerging markets The same reasons that explain the investor emphasis on technology, governance, and macroeconomic veloping economies are on this year’s list. The three exceptions are striking, China’s lower score was

These developments suggest that companies are under more pressure than ever to restructure their supply chains to avoid geopolitical and tar-

Risks and likely developments emerging markets are accurately captured in the risks and developments that investors perceive as most likely in the coming year. This year, investors pointed to a rise in commodity prices as the top risk, political tensions and an economic crisis in an emerging market.

will generate yet unknown political, social, and economic pressures.

The sheer supply chain volume and complexity required to transport ample, providing the vaccine supply needed to deliver a single dose to itants by air would require 8,000

doses, this would be the “largest emerging economies are likely to be on the vaccine waitlist, particularly as developed markets have already cines that can be produced by the countries will only be able to vac-

highlighted an economic crisis in an emerging market as the most likely ily apparent in several cases. Vaccine rollouts in emerging markets will

in these emerging markets and will ment, especially as new viral strains -

Until an economic recovery is under way, many companies and international investors will continue to

rise in investment opportunities— is likely to be much smaller. Cautious investors are unlikely to make quick decisions in such an environment. concerned about data protection regulations, with 43 percent citing high costs associated with data pristringent data protection rules introduced in the past two years,

be prepared, maintaining up-to-date vestors’ respective home countries as well as their recipient nations will be key. Further, adhering to regulations will be necessary to avoid ent countries, particularly against a

Conclusion and business implications the pandemic, they now appear to be cautiously scanning the investment landscape and assessing the be sure, developments in the exthis wait-and-see approach. While vaccines appear promising, much uncertainty remains—and many signals point toward a long-haul recovondary priority until there is greater clarity regarding post-pandemic re-

which requires network operators to store select data within the terlows Chinese authorities to conduct spot-checks on a company’s network

and perhaps more importantly—the companies that are using this period to develop and implement strategic -

deliberating a data privacy bill with vestors are likely monitoring closely.

environment. Such organizations

the pandemic and relies more on

ment is to their corporate competitiveness.

become even more central to competitiveness. Digitalization is impacting every industry to a degree

Full analysis available on kearney. com

13

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

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addr: #9 Grishashvili Str.

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GEORGIA PALACE HOTEL

HOTELS & PREFERENCE HUALING TBILISI

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14

HEADLINE NEWS & ANALYSIS 10 May, 2021 | FINCHaNNEL.COM

news

Views About National Identity Becoming More Inclusive in U.S., Western Europe Large ideological divides persist on views of tradition, national pride and discrimination, especially in the U.S. Pew RESEARCH

A

s issues about culture and identity continue

heated political debates in the United States and Europe, a new Pew Reviews about national identity in the U.S., France, Germany and the UK have become less restrictive and more inclusive in recent years. Comideological right praised the historic lish and Western culture overseas, cussed how the UK had disrupted lo-

immigration to Europe and Donald Trump’s presidential campaign in the U.S. made immigration and diversity a major issue on both sides

pride, when it comes to every other cultural issue asked about in this remore ideologically divided than those in the Western European countries surveyed. For example, on whether

-

born in the country, must be a Christian, has to embrace national customs, or has to speak the dominant language.

“Why would you be ashamed of history?”

become more likely to believe that immigrants want to adopt the cus-

the next most divided country, at 28 points). The ideological divide in the U.S. is also around two times larger than that in any other country when it comes to whether people today are

Remainer

say (a 44-point liberal-conservative gap in the U.S.) and whether it is a that people see discrimination where

things.”

conservative gap).

The ideological gap between liberals and conservatives has also widened in recent years over what

Fewer now say criteria for national belonging like birthplace, religion are important

-

ditions, recognizing discrimination people think their countries will be to changes regarding traditional ways substantial minority in every country Other cultural issues also divide these publics. For example, when it -

third say the same in the European countries surveyed. Similarly, in France, the public is somewhat evenly veyed, though, a large majority think

in every country but Germany say by what others say. today to not see discrimination where see discrimination where it really is not present.

Germans or French to see discrimination against Christians Depending on the country, people are also divided over which groups

logically divisive.

time, and the balance say they are

conservatives are about three times as likely to say they are proud most

others, seeing discrimination

other criteria asked about, liberals

ticipants cited increased diversity as a

the time in both France and Germany, in the U.S. and UK, those on the right are more than three times as likely to say they are proud most

Ideological gaps on issues of tradition,

-

even brought up how political correct-

liberals and conservatives are equally less likely today to say being Christian

sions in these two countries regarding can, respectively. These conversations revealed that national identities are changing, driven in part by globalization and multiculturalism. Quotations -

say it’s important to speak English, whether it’s important to have been born in the U.S. and whether immigrants want to adopt the country’s customs. For more on how the U.S. logical divisions over cultural issues UK, France and Germany.”

to describe themselves as ashamed -

on the right are more likely than ing to traditions, to say people today ers say, and to say the bigger societal problem is seeing discrimination where it does not exist.

Those on the right are also more ing its customs and traditions, speaking the dominant language and

have become ideologically tinged -

clarity.

a new Pew Research Center survey

to be proud.

How the focus Large ideological groups were divides on pride conducted in country in the U.S., UK

basically … Now that politics is so di-

Focus groups conducted in the U.S.

-

has become problematic and that is why you have this polarity and extremism.”

France, Germany, the UK and the tion to ideological divisions, the sursplit along other dimensions including age, populist party support and religion. For example: are less likely to place requirements on Christianity, language, birth or adopting the country’s traditions to age groups. They are also more likely exception to this pattern is Germany,

15

HEADLINE NEWS & ANALYSIS FINCHaNNEL.COM | 10 May, 2021

| places we strongly reccommend to visit | Red Café Bistro & Cafe

NINO BERIDZE'S ORTHODONTIC CENTER

Tel: 2 519 966 Tel.: 2 32 22 27 www.orthodont.ge

“MONSIEUR JORDAN”

# 71 Vazhaphavela Ave.

Tel.: 275-02-07

Respublika Grill Bar

PREGO

PICASSO

Tel: 225 22 58 Tel: 293 14 11 2, MarjaniSvili Str. Tel: 2 999 723

4, Vashlovani Str. Tel: 298 90 86

+995 555 004151

BUREGERCLASICO

Book Corner

, Tarkhnishvili Str. Tel: 223 24 30

b

595 99 22 77 595 99 22 88

Tbilisi

7 Pekini Street,

4

2 24/

7 Mtskheta Str.

Tel: 229 42 30

Tel.: 599 21 53 83

LE MARAIS Kakabadze Str.

Tel.: 291 30 26; 291 30 76

Tel: 292 29 45; Fax: 292 29 46; tk@mcdonalds.ge

Tel: 222 40 83

TWINS - gift store.

TIFFANY BAR AND TERRACE

PROSPERO’S BOOKS

designer Items from U.S. Tel:

Georgia, Parnavaz

Tel.: 260 15 36 info@piazza.ge, www.piazza.ge

Phone: 0322 24 22 44

BRAND WINE GEORGIA

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BUSINESSTRAVELCOM HOTEL AND AIRTICKET BOOKING: 2 999 662 | SKY.GE

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CRYPTOPROCESSING