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Daily Archives: October 27, 2014

Georgia’s Economic Freedom Index Improved

Georgia has  improved its position moving from 25th   to 16th   place in the  2014 Index of Economic Freedom compiled by an international organization “Fraser Institute” asserting  its place in the list of  the countries with the freest economy. It should be borne in mind that the rating reflects data for …

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Ganja plant produces over 1,000 tractors

Ganja Automobile Plant, located in Azerbaijan’s second largest city, produced 1,009 ​​tractors of Belarus model in January-September 2014, which is 536 units more compared to the same period of 2013. The plant produced 202 large-capacity cars of MAZ model in the reported period, and this figure was equal to 184 …

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Today, “Aeroflot” Launched Regular Flights to Moscow

Today, “Aeroflot” has launched regular flights to Moscow. Tbilisi International Airport informs that the company has already carried out the first flight (departure time 03:00 am, arrival time -04: 10 am). The ticket price varies from  GEL 180 (economy class)  to GEL 2 330 (business class). “Commersant” contacted with the  Civil …

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Georgian Gov’t Amends Tax Code

Georgia’s Minister of Finance pledges that meaningless concessions will be withdrawn from the country’s  “Tax Code”. However, the Minister did not specify what he meant senseless exemptions. The Minister made the statement at a meeting with business representatives and briefed them  on the changes planned to the  “Tax Code”. According …

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25 European Banks Fail Stress Test

FRANKFURT, Oct 26 (Reuters) – Twenty five of the euro zone’s 130 biggest banks have failed a landmark health check and ended last year with a collective capital shortfall of 25 billion euros, the European Central Banks said on Sunday. A dozen of those banks have already addressed the gap …

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PASHA Bank a Diamond Sponsor of Business Brilliance Award

PASHA Bank, a full service corporate bank, sponsored annual Business Brilliance Award Ceremony, hosted by London based Global Event and Training Group, BOC (Blue Ocean Consultancy). In October 2014, BOC Global Events Group was back to Tbilisi for the 2nd year running, hosting the annual Business Brilliance Award Ceremony with …

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Motorcars export reduced by annual 20%

Compared to August, in September motorcars export increased. Meanwhile revenue received from car export from Georgia has reduced by 24%. According to official data, in September cars of $46,26 million were exported. In August this figure equalled to $31,97 million, in September 2013 – 59,4 million. As for 9-months period, in total motorcars of $409 …

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Trade turnover with the largest trade partner of Georgia increased by annual 32%

Trade turnover with the largest trade partner of Georgia increased by annual 32%. According to 9 months data of Geostat, Turkey remains the largest trade partner of Georgia. Turnover with this country equalled to $1,428 billion. In January-September 2013 the amount equalled to $1,079 billion. Both export and import have increased with Turkey. Export has …

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Oil products import increased by annual $28

Oil products import increased by $28 million in Georgia. Geostat informs that in January-September 2014 oil and oil products was the largest import group. Its amount equalled to $696 millions and 11% of the import. Motorcars rank second in import with $532 milion. it is noteworthy that compared with the data of 9 months of …

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