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Monthly Archives: July 2014

Eros Kintsmarishvili Found Dead

Eros Kintsmarishvili has been found dead. According to Ministry of Internal Affairs, the law enforcers found Mr. Kintsmarishvili’s body near his apartment, in his own car. His firearm was also found nearby. The investigation is underway. Investigators suspect that he has committed suicide. Eros Kitsmarishvili was  the last Georgian Ambassador to Russia and one of the creators …

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President Eduard Shevardnadze’s Economic Adviser Begins Struggle for Justice

Temur Basilia, economic adviser to President Eduard Shevardnadze,  begins struggle for justice and in the near future will appeal the Prosecutor’s Office  with the corresponding claim. “Commersant” reports that Temur Basilia is not going to come to Georgia and this process will be led by his attorneys. Mikheil Saakashvili’s government accused Basilia of …

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Kazantip to Kick off on August 20

On 20-30 August the electronic dance music festival “Kazantip” will be held in Anaklia. The project manager Nikita Marshunok met with Georgian journalists and told them the details of the upcoming project. Infrastructure works have  already started in Anaklia, installation of the stage and construction of the tent city will be ready by …

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PASHA Bank Sponsors Adizes Methodology and 4D Branding Seminars

PASHA Bank, a full service corporate bank, sponsored seminars – A New Management Paradigm for a New Age of Managers, and 4D Branding – Surprise Branding. The events took place on July 11-12th  at the exhibition centre of Expo Georgia. ShohamAdizes, Vice President of Operations and Director of Training and …

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Tourists from Ukraine and Russia Prevail in Branded Hotels of Adjara

Representatives branded hotels located on the Black Sea coast of Georgia interviewed by “Commersant” say that the citizens of Russia and Ukraine prevail among the guests. In particular, according to the CEO of “Georgia Palace Hotel” Lela Tsulukidze, among the hotel guests are mostly  citizens of these countries. “The greatest demand …

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Wissol could Transfer Lomsia Hotel to Foreign Brand

Wissol continues to sell non-core assets. The company’s managing director Vasil Khorava confirmed commersant.ge that the sale of “Lomsia” hotel in Akhaltsikhe is on the agenda and in a case of a favorable offer, “Wissol” will alienate it. Khorava touches on the issue of  alienation of the FC “Torpedo” and says the project is in progress. As for the construction of a hotel …

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PASHA Bank Sponsors Business Development Forum

PASHA Bank, a full service corporate bank, sponsored the second Business Development Forum that was held on July 10th at the exhibition centre Expo Georgia. Advisory firms, financial services sector representatives and international donor organizations all took part in the event. Forum, which consisted of the exhibition and conference, provided …

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Fiddling the books? EU to investigate Amazon’s tax rates in Luxembourg

Officials from the European Commission have demanded that Luxembourg hand over documents relating to book retailer Amazon’s tax affairs. The crackdown by the EU has already affected Apple, Starbucks and carmaker Fiat’s financial arm. The European Commission is investigating Amazon to see if its Luxembourg tax base complies with EU …

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Plan of $40bn Nicaragua canal officially approved

Nicaragua has approved a route for a new ship canal to link the Atlantic and Pacific Oceans costing $40 billion. The project would compete with the Panama Canal and could completely change transoceanic trade. The plan would see the canal finished in 2019 and beginning commercial operations in 2020, Reuters …

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BRICS countries near development bank deal to rival IMF, WB

The emerging economies of Brazil, Russia, India, China and South Africa, are a couple of days from agreeing the $10 billion BRICS development bank, as well as a $100 billion currency pool. It could challenge global lenders like the IMF and World Bank. The bank will be called the New …

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