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Daily Archives: July 6, 2014

MFI Profits Rise Sharply

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Consolidated profit of microfinance institutions amounted to GEL 18 million in the first quarter of this year, that is 30.2%  highercompared to the same period in 2013. As per March 31, 2013, a total of 80 microfinance institutions were registered in Georgia, by the end oflast year their number was 67. 13 of them do not have any employees or offices and branches. As of March 31, the total assets of MFIs totaled GEL853.1 million, which means a 17% growth. Liabilities reach GEL 635.2 million (a 18.2% growth). As for MFOs capital, it reaches GEL 217.8 million, …

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MFOs Reduced Financing of Trade

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Microfinance organizations of Georgia issued loans amounting to GEL 661 million in 6 months of  2014, which is 18.2% more than in the same period of 2013. In the same period, commercial banks issued loans in the national currency in the amount of GEL 341.2 million, which is 2 times higher than in the same period of 2013, in foreign currency –  GEL 336 million, which is 39% less than in same period of 2013. Thus, the amount of loans …

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The world’s oldest recipe is for none other than….beer!

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Being one of the oldest crafted beverages in the world, beer has been enjoyed by billions throughout history and remains a favorite today. While the varieties have exponentially grown, the foundation is still there….and it’s awesome! Here are a few things to expand your knowledge for some random bar trivia. …

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Nabeghlavi – Blessing of Georgian Nature

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Any company that moves from the local market to the international scene represents a face of its country, culture and traditions. This is especially true for brands from such a small country as Georgia. Products of Healthy Water (“Tskali Margebeli”) are already being exported to 27 countries. Nabeghlavi and Bakhmaro …

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Foodpanda in Georgia and foodpanda worldwide

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Foodpanda, an online food ordering service which is prominent in over 40 countries, has of this year entered Georgia. The German brand has begun operating in Georgia under “foodpanda Georgia”, and despite a short amount of time, it has managed to win the interest of a large part of society. …

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Eurasian Economic Union may establish Central Bank by 2025 – Kazakhstan

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Eurasian Economic Union of Russia, Belarus and Kazakhstan could establish the organization’s central bank by 2025, Vesti.ru quoted the head of Kazakhstan’s Central Bank, Kairat Kelimbetov, as saying. It as earlier announced that the single financial regulator of the Eurasian Economic Union will be set up in Astana, Kazakhstan’s capital. …

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Russian billionaire to develop $264mn irrigation project in Syria

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The Syrian government signed an agreement with the Russian company Stroitransgaz controlled by billionaire Gennady Timchenko to construct an irrigation project to fight drought in northeast Syria, the country’s news agency SANA said. The total cost of the contract is estimated to exceed $264 million. Stroitransgaz is expected to construct …

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Gazprom replaces head of export unit

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Russian oil producer Gazprom has replaced Aleksandr Medvedev as head of its exporting arm, Gazprom Export, with one of his deputies, Elena Burmistrova, Reuters reported. “Gazprom’s ambitious plans for external markets call for new structural and functional decisions,” Gazprom CEO Aleksey Miller said in a statement. President Vladimir Putin met …

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Gazprom may join German gas project in Argentina – report

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Russia’s Gazprom could get a share in one of the projects of Germany’s Wintershall in Argentina, according to a report by Vedomosti. The talks are expected to close soon, and legally binding documents could be signed in mid-July, the paper said, citing industry sources. The deal could reportedly be part …

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