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Monthly Archives: October 2014

Safety Rules Tightened at Gas Stations

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Safety rules have significantly tightened at gas stations in Georgia. According to the new norms, a fine in the amount of GEL 200-  1 500 will be imposed on the owner of the facility  if  safety rules are violated or   do not meet standards . A hidden operation of the station …

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Changes Made to Preferential Agro- credit Project

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Ministry of Agriculture has made changes to the preferential agro- crediting scheme  as well as to a project of co-financing of processing enterprises.According to the Ministry, as a result of the project optimization, from January 2015 instead of the current 8 components there will be a preferential agro-credit of two components  : preferential …

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Travel Companies Closing in Georgia

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According to CEO of Medea Travel, many tour operators are on the verge of bankruptcy due to the financial crisis. “We have already closed all offices, except for one.Banks do not give us loans, they believe that the tour operators do not have the resources to pay them, “- the …

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Russia’s Central Bank Boosts Ruble Liquidity

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Starting October 27th Russia’s key financial regulator Central Bank introduced a new financial tool known as foreign currency repo, or repurchase agreement.   “These operations are aimed at further empowering credit institutions to manage their own short-term currency liquidity,” according to Central Bank of Russia’s press center.   The credit organizations …

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Ministry of Economy of Georgia Works on Introducing E-visas

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An interview with Director of the Georgian Tourism Association Nata Kvachantiradze When will visitors  be able to receive e-visa?  The Economic  Ministry initiative is still under consideration. The fact is that the visa regime with separate countries introduced on September 1st has brought negative results in terms of both business …

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