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Monthly Archives: July 2014

New Electricity Tariff to Come into Effect from September 1

An interview with the Chairman of Georgian National Energy and Water Supply Regulatory Commission (GNERC) Irina Milorava What is a new methodology for calculatingtariffs for electricity, which was developed bythe Commission? We presented two methodologies – one incentive associated with the rate on the distribution, the second concerns the generation and transmission, which provides an annual tariff revision.  An incentive rate  includes the following principles – …

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Russia may Impose Sanctions against Ukraine, Georgia and Moldova

Introduction of non-zero duty for imports from Ukraine, Moldova and Georgia is not the only possible answer of Russia to the Association Agreement with the European Union signed by the three countries. Moscow may impose restrictions on trade with its neighbors following the example of Western sanctions, government documents say. However, this scenario is fraught with proceedings in the …

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Georgian Wine Museum not to Have Analogues in the World

The Georgian Wine Museum, which has  no precedent in the world, will be given the status of a National Museum. Director of the National Wine Agency  Levan Davitashvili  told commersant.ge. According to him, there is no country where the wine museum has a status of the National Museum and  such institutions are established with private …

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Entrance into the Martvili Canyons to be Paid

A contest to arrange the Martvili canyons infrastructure has been held and a winner has been revealed. New details about the project and the contract will be known this week, until then, it’s interesting  who and how will serve local and foreign tourists arrived in the Martvili canyons and where the …

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Budget Shortfall Amounted to GEL 126 Million

As per the data for 6 months, the budget shortfall amounted to GEL  126 million due to  short-received foreign grants and loans. According to the newspaper “Business Rezonansi”, the country received only 47.09% of grants and 53.2% of loans of  the planned grants and loans. Experts require the government to answer the question – …

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Restoration Program for Unique Vine Varieties to Begin in Georgia

The Georgian National Wine Agency launches a restoration program for unique and rare species of vine. According to the Agency, the program is designed to recover unique and rare species of vine which was grown in Georgia by the local population some time ago and for different reasons is grown …

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“Airzena” Launches Flights to Kuwait

“Airzena”  Georgian airline will start flights to Kuwait in August. According to the company’s managing director, negotiations are underway regarding  the new flights and frequencies and apart from  Kuwait and Turkmenistan, the flights will be performed  to Kazakhstan as well. The  rest in the Croatian islands  will be another novelty the airline will offer its customers next …

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Tbilisi City Hall Obliges Developers to Plant Trees

The newly elected Mayor of Tbilisi David Narmania initiated a  tree planting program during his election campaign. After the election, he said that the program would be implemented by real estate companies, which would be required to plant trees in the area where they carried  out their projects. According to a representative of the construction company “Arci”, the initiative …

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Georgian Lending Paradox

“Mtskheta Food Company” which produces products under the “Golden Fleece” brand cannot resume operation due to the government-subsidized preferential agrolending program. In particular, the company’s  Director  Givi Giutashvili says  that banks participating in the program require a large  collateral for the loan and the company’s property is evaluated far below its market value. The fate …

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PASHA Bank – General Sponsor of International Chess Festival

PASHA Bank, a full service corporate bank, was the general sponsor of the 9th International Festival – Nana Alexandria Cup – 2014. Out of the 9 years of Festival’s history, Pasha Bank has been the largest sponsor of the Festival.  The 9th Poti International Chess Festival Nana Alexandria Cup – …

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New Insurance Company “Kopenbur” to be Officially Opened Today

The JSC  insurance company “Kopenbur” will be officially opened today. The opening ceremony will be officially launched by the company’s German founder ,Chairman of the Supervisory Board Franjo Vidichek and the head of the State Insurance Supervision Service Lasha Nikoladze. The official opening will be also attended by Minister of Economy and Sustainable Development of Georgia George Kvirikshvili, Finance Minister Nodar Khaduri, Tbilisi Mayor David …

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Kakha Bendukidze to Give Advice to Government of Albania

Chairman of the Supervisory Board of the Agriculture University and founder of  Free University  Kakha Bendukidze will visit Albania to give advice to  the county’s  Prime Minister Edi Rama. The Albanian government is interested in the reforms carried out  in Georgia, as well as Kakha Bendukidze’s  experience in reforming in other countries with  economies in transition. Albania …

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