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Germany prepared to help its firms keep doing business in Iran

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BERLIN (Reuters) – Germany is prepared to help its firms keep doing business in Iran, its economy minister said on Friday, when the U.S. envoy to Berlin called into question the morality of such transactions.

Tuesday's U.S. withdrawal through the 2019 nuclear accord and planned reimposition of sanctions against Iran were included with the threat of penalties against any foreign firms linked to business there.

Germany – in addition to France and Britain – claims it remains focused on the nuclear deal, and Economy Minister Peter Altmaier said his government had no immediate reason to modify its Hermes export guarantee scheme for Iran either.

"Were all set to consult each of the companies worried about what we should can perform to lessen the negative consequences," he told Deutschlandfunk radio.

"That means, it is concretely about damage limitation" and included offering legal counsel, he stated.

Around 120 German firms have operations with their own staff in Iran, including Siemens (DE:SIEGn), and several 10,000 German companies do business with Iran.

Last year, exports of German goods to Iran rose by around 400 million euros into a 3 billion euros ($3.57 billion) – scarcely over 0.2 percent of the German exports but a lot more than Britain and France.

Altmaier said Germany planned to avoid "a spiral of escalation" in trade relations together with the United states of america.

'BUSINESS With all the MULLAHS'

But the U.S. ambassador in Berlin, Richard Grenell, said firms should question the morality of performing business with Iran, the spot that the economy was largely controlled by using a religious order.

"Every country is sovereign and might decide for itself on sanctions. But Germany, France and Britain, the 'EU3', say themselves that Iran poses a threat. Do they really would like to do business with a threat?" Grenell told Bild newspaper.

"If you are then all companies chiefs who want this will operate and say: 'we want to do business with the mullahs'."

Altmaier said Germany didn’t have legal means of protecting German firms that ply their trade in the nation, but wished to avoid negative fallout for everyone active in Iran.

Of European tensions when using the Country over the Iran issue, Altmaier said: "It is rather much like the trade conflict to get the announced tariffs for steel and aluminum… We’ve got to avoid moving into a spiral of escalation."

German Chancellor Angela Merkel told Iran's President Hassan Rouhani in the call on Thursday that they supported maintaining the nuclear accord as long as Tehran upheld its side in the deal. French President Emmanuel Macron told Rouhani a similar on a daily basis earlier.

Germany, France and Britain want talks to take place from a broader format on Iran's ballistic missile program and regional military activities, including in Syria and Yemen.

French exports to Iran doubled to at least one.5 billion euros during the past year, driven by way of the export of jets and aircraft parts, and even automobile parts, depending on customs data.

Britain exported 167 million pounds ($225 million) worth of goods and 95 million pounds of services to Iran in 2019.

Economy

Quantity of Hired Employees Exceeded Quantity of Self-Employed People Recently

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In line with Mikabadze, that the amount of employed workers exceeded the sheer numbers of self-employed people and share with the overall quantity of employment equaled to 50,8%, ?indicates the increase in the amount of jobs generated from the productive sectors of economy.

\”The lessing of the unemployment rate has resulted in stable economic indicators which were observed within the recent times in Georgia in line the decreased rate of economic increase this particular region. It is crucial that the unemployment rate has reached the lowest mark within the last Many years. Unemployment is decreased both among women and men,\” C Ekaterine Mikabadze said.

According towards Deputy Minister, the unemployment rate among men has decreased by 1,1% totaling to 13,9%, while among women the cell number was decreased by 1,5% and equaled to 11,2. Normally, the number of unemployed in 2018 was decreased by 30,7 thousand people plus the range of employees amounted to ?245,7 thousand person.

According to Ekaterine Mikabadze, the amount of employees in 2018 decreased by 12,4 thousand and 1694,2 thousand. \”A small decline in how many employed people as a result of a decrease in how many self-employed people, and also the quantity of employed workers significantly was increased by 35,9 thousand and amounted to 860,2 thousand people. How many self-employed people was decreased by 48,2 thousand and equaled to 833,4 thousand persons,\” C the Deputy Minister noted.

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Economy

Competition on Borjomi Park concept Announced

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Based on the official documentation, the concept includes: long-term vision with the development of Borjomi Central (historical) park, upkeep of historical-cultural function – development; Expansion of park’s perspectives; Growth and development of recreational function; Upkeep of the diversity of flora, if needed, add new species; Landscape design visions; Arrangement of paths, attractions and logistics.

Competition involves 2 stages. Applications is going to be completed on March 15. Inside first stage, the jury will select the best projects. Next the 3 winners shall be revealed by their involvement and public participation. Your second stage will end on April 5.

“Anybody or group playing competition may present the repair in?Borjomi municipality.

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Economy

237.5 So many Georgian Citizens are Unemployed

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In 2018 the annual unemployment rate decreased by 1.2 percentage points compared to 2017 and amounted to 12.7 percent.

It must be noted how the downtrend inside the unemployment rate is maintained in the last nine years, furthermore in 2018 unemployment rate reached the minimum level over the past 15?years.

In IV quarter 2018 economically active population constituted 63.6 percent from the working age population (population aged 15 and older). In comparison to the previous quarter, the efficient?activity rate and employment rate decreased by 0.7 percentage points. The employment rate in?urban settlements decreased by 0.2 percentage points compared to the previous quarter plus?rural settlements – 1.3 percentage points. As compared to the previous quarter the commercial activity?rate in rural settlements decreased by 1.6 percentage points, when it\’s in urban settlements remained?unchanged.

Traditionally, the unemployment minute rates are higher for males than women. In IV quarter 2018 the indicator was 2.6 percentage points higher for men when compared to the corresponding indicator for girls.

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