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Daily Archives: August 8, 2014

“Rixos” Hotel to Open in December

A  five-star “Rixos” hotel will open in Likani  in December. Irakli Kovzanadze, Director of  the Partnership Fund (PF), told “Commersant”. A 152 -room hotel will be located  in the territory of the former Fourth Division. The project is jointly carried out by the  Partnership Foundation and the Kazakh state oil and gas company “KazMunaiGas”. A  total investment volumein the complex amounts to USD 38.5 million, the Partnership Fund’s contribution is 50%. The Kazakh company acquired the  object in Likani …

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Developers Warn Deputies of Tbilisi City Assembly

Representatives of the real estate companies call the deputies  of the Tbilisi City Assembly to refrain from making statements that could interfere with the business and investment climate. In particular, the new head of monitoring and audit service of the City Assembly Badri Gogadze said he would check the legality of …

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GEL Exchange Rate Began to Strengthen

The  exchange rate of the Georgian national currency began to strengthen in the last two months and at  the end of July  the GEL exchange  rate against the USD amounted to 1.7418 while  today- 1.7274. On August 1, 2014 the National Bank of Georgia (NBG) purchased $ 20 million at the National Bank’s currency auction, the weighted average …

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New Silk Road – What Economic Benefits will the Project Bring to Georgia?

The government is working on the idea of the new Silk Road. Prime Minister Irakli Garibashvili  says that thereby,  Georgia’s potential will be fully used. “The strategic location of Georgia  is becoming more and moreimportant.  For this reason we develop the new Silk Road idea. Chinese government expressed its interest and I’ve already had a conversation with Romanian  Prime Minister  – we start a deep-water port construction to accept  the Panamax large-sized vesselsand to …

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Russia’s Ban on Transit Flights of Ukrainian Airlines Affected Georgia-based Air Companies

Russia has decided to stop transit routes of  Ukrainian airlines through its territory to the number of countries, Prime Minister of the Russian Federation Dmitry Medvedev stated. “Ukraine International Airlines” and “Dniproavia” fly  from Ukraine to  Georgia today. “Commersant” got in touch with the airlines representations in Georgia. “Ukraine International Airlines” says that  they …

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