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Monthly Archives: July 2014

Azercell leads in data speed among mobile operators

The most precise system for measuring the data speed – Ookla Net Index once again ranked Azercell as the provider of the fastest speed of mobile Internet in Azerbaijan. Thus, based on the Ookla research, currently Azercell provides 6.12MB/s of mobile Internet speed. This is the highest index among all …

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Azerbaijan remains Georgia’s 2nd largest trade partner

Azerbaijan remains the second largest trade partner of Georgia, the foreign trade report of the National Statistics Service of Georgia shows. The trade turnover between Georgia and Azerbaijan in the first six months amounted to $584.3 million (10.7 percent of the total foreign trade of Georgia), which is 3.7 percent …

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Revenue Service Talks about Reduced Offences by Business

In the first half of 2014, the number of offenses reduced by  14% during control purchases conducted by officials of Tax Monitoring Department compared with the same period of the previous year. Commersant.ge was informed at the Revenue Service. As reported, the new government initiated to record control procedures with the use …

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“Airzena ” Performs Tel – Aviv Flights in the Usual Way

“Airzena”  airline company  continues to perform  Tel – Aviv flights in the usual way. According to the airline’s managing director, there is no danger to fly  to Tel – Aviv airport. Iase Zautashvili notes  when it was reported that large companies had suspended flights to Israel, they  contacted  their representative in Israel and spoke to the airport authorities, who said  that the …

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Real Estate Sites and Newspapers to Have a Strong Competitor

Georgian Real Estate Association creates a large-scale real estate base which will be a common ground for realtors to work. According to President of the Association Aleksandre  Japaridze, as a result of  the project,  uncivilized Georgian market will be turned into  the market meeting contemporary standards. He says  that as soon as the  base is launched,  all existing …

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“Georgian Dream” not Rules out Russia’s Trade Sanctions on Georgia

Moscow  is working on several scenarios of economic sanctions against Georgia, Ukraine and Moldova – Russian media reports referring to  the government documents. The ruling party of Georgia considers the threat realistic and says that such a move by Moscow will not be a surprise. The Kremlin has already discussed the ways …

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Fuel Prices Went up after Elections

After the second round of elections, fuel price has increased, despite the fact that a decreasing trend is being observed on the international markets in the last two weeks. According to “Rezonansi” daily, importers actually do not have any excuse to increase fuel price- international prices go down, and the suppliespurchased at a relatively high price have been exhausted, so a new batch of  fuel is bought at  a much …

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Gov’t to Sign a New Agreement with “TAV Georgia” in the Coming Days

A delegation of the Ministry of Economy and Sustainable Development will travel to Turkey in order to hold negotiations with “TAV Georgia”. Commersant.ge was told at “TAV Georgia”. In the framework of this visit, a new agreement is not expected to be signed, however, the details of the agreement will be discussed at a meeting. Deputy Minister Dmitry Kumsishvili said a few weeks ago that  the agreement  should be signed until July …

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H & M may Enter Georgian Market

A well-known brand H & M might enter the Georgian market. “CBD  Development”  confirms negotiations with the brand in a conversation with “Commersant”, but notes  that a final decision regarding the brand’s  entry into  Georgia has not yet taken. ”CBD Development” is building  a multi-functional complex worth USD 90 million  in Tbilisi. According to the company, 85% of the …

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“Sheraton Palace” may be Closed for 10 Months

“Sheraton Metechi Palace” hotel may be closed for 10 months. The hotel management company “Rakia”  begins thereconstruction of ” Sheraton” in autumn. According to Director General of “Rakia Georgia”, there are two opinions regarding the reconstruction of the hotel, the project will be  carried out in parallel with the operation of the hotel or the hotel will close and will be  eventually repaired. Guga Tsanava says that he supports the …

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“River Island” Leaves Georgian Market

Another well-known clothing and accessories brand, “River Island”,  leaves the Georgian market. Thestore’s management does not comment on thespread information. “Commersant” reports that “River Island” has not justified on the Georgian market and will share the fate of “Debenhams” in the near future– the store will announce discounts soon and will begin to prepare for leaving the market. “River Island” has been operating in Tbilisi for more than two years. As reported, the British …

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