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Monthly Archives: July 2014

TBC clients will get international consultants’ assistance

Small and medium-sized enterprises, which are clients of TBC, will get technical and consulting assistance from the foreign counselors. The bank informs that Business Support Program of TBC and Dutch technical assistance program PUM Netherlands senior experts gives this opportunity. Special contest will select 10 companies, which will be able …

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Azercell’s shareholder gets Tele2’s Norwegian operations

Azercell’s main shareholder European communication giant TeliaSonera is acquiring Tele2’s operations in Norway, according to a message from Azercell. The company has also committed itself to 98 percent population coverage for 4G by 2016, two years ahead of its obligations. Tele2 operates under the brand names Tele2, One-Call, My Call …

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SOFAZ earns enormous profit from ACG, Shah Deniz projects

Azerbaijan’s state oil fund SOFAZ has gained over $102.8 billion from 2001 to July 1, 2014 by implementing the project of developing the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea. The fund earned around $7.78 billion from ACG project from …

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AZAL in list of most punctual airlines

Azerbaijan Airlines (AZAL) , the biggest Azerbaijani airline and national flag carrier, has been named one of the most punctual airlines in a ranking published by the Russian Domodedovo International Airport. AZAL operated 111 dead-on-time flights in a month. Lufthansa became the most punctual airline company among foreign airlines as …

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Azerbaijan attracts $84 bln foreign investment

One of the main priorities of Azerbaijan’s government has been promoting its non-oil sector. Attracting investments, advanced technologies and management experience from abroad is one of the main directions of the country’s economic policy, said Azerbaijan’s Economy and Industry Minister Shahin Mustafayev in his article published on the official press …

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Cargo transportation volume through Azerbaijani segment of TRACECA named

Around 23.4 million tons of cargo was transported via the Eurasian transport corridor (TRACECA, the Europe-Caucasus-Asia) through the Azerbaijani territory in January-May. This figure amounted to 24.3 million tons in the same period of 2013, Azerbaijan’s State Statistics Committee said. Vehicles accounted for 49.6 percent of the total volume of …

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German Company Advises Georgian Gov’t to Promote Start-ups

Some companies, including the German “CAPAROL”, talks about the difficulties  related to obtaining the loan in the frames of the preferential agro-credit program.In particular, the company’s representative evaluates the negative sides of the preferential agro-credit program  and declares that a collateral for a loan is the negative side of the  program. “It would be nice …

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Regulations being Prepared for Hotel Business

Regulations are being prepared for the hotel business. Georgian Hotel & Restaurant Federation began work on the project of standards for hotel  last month. According to President of the Federation Shalva Alaverdashvili, the standard is being developed on the example of the Baltic States, which provides for the issue of giving  stars …

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Tbilisi Authorities Begin to Fight against Street Trading

In the coming days, street vendors are going to start a protest in Tbilisi – the newspaper “Rezonansi”  writes- the reason for this was a fact that the police began to displace them from the streets adjacent to major urban markets. “The elections are over and the authorities began to struggle …

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Gudauri and Bakuriani to Open for Summer Season Tomorrow

Gudauri and Bakuriani will open for  summer season  tomorrow. Director of Gudauri  Development Agency states ”Commersant” that this time repair works are underway in Gudauri and heavy equipment is working on the bicycle track project. According to Sandro Onoprishvili, two  ropeways will be opened in Bakuriani  as well. At the same time, the National Tourism Administration will hold a Cycling Marathon …

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Turkish Airlines is Georgia’s Aviation Market Leader

Turkish Airlines is Georgia’s aviation market leader by the number of passengers carried  on regular flights. According to statistics, in January- June 2014, most of the passengers, in particular 22%, were carried by  Turkish Airlines. In  6 months the company served   139 353 passengers. Followed by theGeorgian aviation flagship Georgian Airways(“Airzena”) – 12% and Ukrainian air carrier Flyuia- (10%). Georgian Airways carried  75 419 passengers in 6 months of 2014, Flyuia – 63 542 …

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