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Protests erupted in Tbilisi, Georgia, over the government's suspension of EU accession talks, resulting in 44 people hospitalized. Demonstrators clashed with police, who used tear gas and water cannons, while officials condemned the protests and dismissed international criticism regarding democratic backsliding. President Salome Zourabichvili warned of a shift towards a "quasi-Russian" state under the ruling party, Georgian Dream, amid calls for new elections.
A Singapore court has reduced the damages UBS must pay Georgian billionaire Bidzina Ivanishvili from $743 million to $461 million. In a recent interview, Ivanishvili discussed his ongoing legal battles with Credit Suisse, which he claims have left him "de-facto" sanctioned, and expressed his reluctance to meet U.S. officials due to personal financial concerns. He indicated that he would seek a meeting with the American ambassador after the October 26 elections.
UBS Group AG has successfully reduced the damages owed to Georgian tycoon Bidzina Ivanishvili from $743 million to $461 million, as ordered by Singapore’s International Commercial Court. The revised amount includes interest and costs, following Ivanishvili's claims related to a significant embezzlement scheme involving a rogue banker at Credit Suisse.
UBS Group AG has successfully reduced the damages owed to Georgian tycoon Bidzina Ivanishvili from $743 million to $461 million, as ordered by Singapore’s International Commercial Court. The revised amount includes interest and costs, following Ivanishvili's victimization by a rogue banker at Credit Suisse.
Bidzina Ivanishvili, a 68-year-old tycoon, has dominated Georgian politics for over a decade, with his party, Georgian Dream, holding significant power. As Georgia approaches a pivotal election on October 26, rising public discontent over the country's shift towards Russia amid tensions with the West is evident, raising concerns about Ivanishvili's influence and the future of Georgia's EU aspirations.
Bidzina Ivanishvili, Georgia's richest person and founder of the ruling party, warns voters against provoking Russia, framing the upcoming election as a battle to avoid conflict similar to Ukraine's. Despite a pro-Western past, his recent policies and rhetoric have shifted towards Russia, raising concerns about his influence over Georgia's political landscape. Many Georgians fear a return to war if the opposition gains power, reflecting deep divisions in the country’s approach to foreign relations.
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