Author: Tatyana Gracheva
Employers facing a choice: Hire a foreigner or shut down the business
The number of foreign workers in Serbia continues to grow – in 2024, over 52,000 work permits have been issued, mostly to citizens of China, Turkey, Russia, India, and Nepal, according to data from the National Employment Service. A new law, a digitised procedure, and an acute shortage of domestic labour – as Serbian workers […]
Read moreKazakhstan improving quality of life – Global Banking & Finance Review
A Measured Shift in Socio-Economic Indicators Kazakhstan, traditionally known for its resource wealth, is increasingly recognized for its efforts to improve living standards, El.kz cites globalbankingandfinance. According to official statistics, as of 2024, the national poverty rate has declined to 5%, down from 46.7% in 2001. During the same period, real wages increased by 21%, […]
Read moreIDFI: Georgia’s IT sector slows down
Georgia’s IT sector is showing signs of stagnation, with just 18 new companies registered in 2025, a slowdown that reveals deeper structural issues, as the new report published by Institute for Development of Freedom of Information (IDFI) says. The report emphasizes that much of Georgia’s recent tech growth was driven by the post-2022 influx of […]
Read moreItaly to help Ukraine rebuild its labor market
During the Ukraine Recovery Conference 2025 in Rome, Ukraine and Italy agreed on closer cooperation in the field of labor market development. The corresponding memorandum was signed by the Ministry of Economy of Ukraine and the Ministry of Labor and Social Policy of Italy. The document was signed by First Deputy Prime Minister and Minister […]
Read moreShifting priorities in Serbia’s IT sector: From team atmosphere to career growth and fair pay
An analysis of over 2,000 reviews from IT professionals on HelloWorld.rs reveals a significant shift in workplace experiences over the past year. Previously, the main complaints focused on inefficient communication and lack of benefits. Now, criticism centers on authoritarian leadership, unclear career paths, poor internal communication, and underdeveloped HR practices. Negative feedback increasingly highlights dissatisfaction […]
Read moreKazakhstan’s Social Spending Strategy: Reducing Poverty through Employment and Structural Reform
A Measured Shift in Socio-Economic Indicators Kazakhstan, traditionally known for its resource wealth, is increasingly recognized for its efforts to improve living standards. According to official statistics, as of 2024, the national poverty rate has declined to 5%, down from 46.7% in 2001. During the same period, real wages increased by 21%, reflecting a multidimensional […]
Read moreWB: Georgia ranks 2nd globally in 2024 labor productivity growth
The World Bank (WB) has published the 2024 results for global labor productivity. Labor productivity is measured as the level of GDP per employed person, adjusted for purchasing power and constant prices. The WB says labor productivity in Georgia increased by 10.4% in 2024, surpassing 56,608 international dollars. This double-digit annual growth places Georgia second […]
Read moreReducing Poverty through Employment and Structural Reform is Kazakhstan’s Social Spending Strategy
Kazakhstan is making efforts to improve living standards. Official statistics reports the decline of the national poverty rate as of 2024 to 5%, down from 46.7% in 2001 and the increase of the real wages by 21%. The country doesn’t rely on direct cash transfers for poverty alleviation, but on employment creation and integration into […]
Read moreDeputy Minister promises boosted tourism and strengthened ties with China due to visa-free travel
Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development, and Han Jun, Deputy Director of China’s Civil Aviation Administration (CAAC), discussed strengthening civil aviation ties between Georgia and China at a meeting.
According to Nadareishvili, they should expand cooperation and increase the number of flights operated by Georgian and Chinese airlines. As he noted, passenger traffic has been significantly boosted by the recent introduction of visa-free travel.
The Minister said that the key role in this growth belonged to visa- free travel, and they will add new routes and increase flight frequency, in order to further enhance trade, economic relations, and tourism between our countries.
The number of air passengers traveled between Georgia and China increased by 45 % in 2024 compared to 2023. Direct flights to Georgia are currently operated by China Southern Airlines and Air China. Carriers on both sides demonstrate an increased interest for air cargo.
Givi Davitashvili, Director of the Civil Aviation Agency, and Zhou Qian, Chinese Ambassador to Georgia, also attended the meeting.
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Read moreActivity of Kazakhstan’s service sector increases
According to the headline Freedom Holding Corp. PMI® Business Activity Index, there is a sixth consecutive monthly growth in output across the Kazakh service sector in June. Notably, the index increased for four months in a row in May, at 55.1, up from 54.3 — the highest recorded point since March 2019.
As Yerlan Abdikarimov, director of the Financial Analysis Department at Freedom Finance Global, said, new contracts and marketing strategies revived the market and supported employment. The growth of sales prices has reflected rising operating costs.
He also mentioned signals of a probable market correction, such as slowing down of the growth of business activity’s pace compared to May, which had the strongest increase in the past two years, in spite of dropping expectations for the year ahead to a 12-month low.
According to the experts, increased caution of businesses regarding the second half of 2025, growing overall uncertainty amid intensified competition, foreign trade risks (including the ruble factor), and changes in tax policy may cause such dynamics, against the backdrop of reaching a peak in business activity growth.
Nevertheless, Abdikarimov emphasized that business expectations are still optimistic.
Although the slipping of the Kazakhstan Manufacturing PMI from 51.3 in May to 49.7 in June signaled the first deterioration in business conditions in 16 months, the index pointed to only a marginal worsening in the health of the sector. Meanwhile, the first reduction in manufacturing output since February 2024 was central to the deterioration in operating conditions. There was a notable production decline amid softer new order growth and reports of pauses to repair machinery.
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