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Daily Archives: November 11, 2014

Incognito Arab Investor to Build a Hotel in Tbilisi


Arab investor plans to build a 5-star hotel and apartments on the left bank of the Mtkvari River. He wants to remain anonymous until the project is launched and for this reason is not going to meet the Georgian media at this stage. Business consulting company MB Cons conducted a …

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Government Makes Concessions – Pensions will Rise for all Citizens


In 2015 pension increase will not be categorized and all pensioners will get increased pensions, Finance Minister Nodar Khaduri told journalists after the meeting between the PM and the parliamentary majority, which was also attended by the Minister of Finance. He introduced next year’s budget parameters at the meeting. “Today …

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Transparency International – Georgia has Remarks concerning Visa Regulations


The reputed non-governmental organization the Transparency International – Georgia declares that visa regulations entered on   1 September have created big problems both  to investors and tourists, therefore,  the  organizations  makes a number of recommendations which would help to overcome them. In particular, the organization interrogated 100 foreign citizens that allowed defining …

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Doubled Excise Tax for Alcohol against Local Production


From January 1 alcoholic beverages excisetaxes will be increased. “Commersant” has found that excise tax rate per  1 liter of beer might become GEL 0.80 instead GEL 0.40. Apart from wine, excise price for all other types of alcoholic beverages will hike as well. How this decision will affect domestic …

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Global stocks rise, Brent crude hits four-year low

Traders are pictured at their desks in front of the DAX board at the Frankfurt stock exchange

European stocks rose on Tuesday, with investors in bullish mood after Wall Street notched up a fourth straight record close and Tokyo’s Nikkei hit a seven-year high on talk that a Japanese sales tax increase may be delayed. The gains in Tokyo stocks helped push the yen lower versus the dollar. …

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For Sale! World’s oldest bank, Banca Monte dei Paschi di Siena


Banca Monte dei Paschi di Siena SpA, Italy’s No. 3 bank and the world’s oldest, is up for sale. The Tuscan lender, the worst performer in Europe’s recent banking “stress tests,” has hired investment bankers at UBS AG UBS 0.29% and Citigroup Inc.C, 0,26% to find a buyer or merger partner, these …

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GYM 1: An exclusive fitness club with innovative technology


A highest quality fitness club GYM1 opened in Tbilisi on Sanapiro Street, 8. The gym is equipped with Technogym machines, an Italian company which has been an official supplier for athletic training equipment for a number of the Olympic Games, including Beijing in 2008 and London in 2012. Along with …

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