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Daily Archives: December 10, 2014

Nikora bought “Sundays,” “Homemart” and “Ki Batono”

Nikora bought "Sundays," "Homemart" and "Ki Batono"

Nikora franchise acquired several stores that are currently active on the Georgian market. Among these are 7 “Sundays” stores in Zugdidi; 3 “Ki Batono” stores and 2 “Homemart” supermarkets in Tbilisi. As a result of this purchase the quantity of Nikora stores in Georgia will reach that of 110. At …

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Fitch slightly upgrades Turkey’s growth forecast

Fitch has upgraded Turkey’s growth forecast for this year due to a better-than-expected economic performance, according to a senior director at the ratings agency. Speaking on Dec. 9, Fitch Ratings Senior Director Paul Rawkins said Fitch had raised Turkey’s 2014 growth forecast from 2.7 percent to 3 percent because of …

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State Development Corporation to be Established in Georgia

“Commersant”  reports that the German Development Bank (KFW) will assist the Georgian government in establishing the  State Development Corporation. According to  the parliamentary majority  leader David Saganelidze, KFW will provide about 350 000 Euro for a research about the prospects for the creation of such a structure in Georgia, and …

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CHRISTMAS GIFTS AND TAXES

Baker Tilly Georgia LLC, an independent member of Baker Tilly International, is an audit firm with over 18 years of experience in Georgia. Baker Tilly International is a network of high quality, independent accountancy and business services firms, all of whom are committed to providing the best possible service to …

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NEW YEAR’S DINNER FOR THE PRICE OF 240 GEL

The menu is based on the New Year’s “staple products” which are considered a standard in the Georgian society Amid the preliminary holiday season and rapid depreciation of lari, CBW decided to calculate how much a traditional New Year’s supra will cost Tbilisi residents this year. For a more objective …

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PASHA Bank Awarded the Winner of the Georgian Panorama

PASHA Bank, a full service corporate bank, sponsor of Georgian Panorama, on 15th Tbilisi International Film Festival, awarded “I am Beso” by Lasha Tskhvitinidze as the winner of the Georgian National Competition. The 15th TIFF took place during the first week of December. Contributing to the development of film industry …

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Iran’s oil minister rejects oil barter with Russia

Iranian Oil Minister Bijan Namdar Zanganeh has rejected reaching any agreement with Russia to barter oil in return for staple goods, the Islamic Republic Mehr news agency reported on Dec. 10. Zanganeh was reacting to new reports quoting Russian Economy Minister Alexei Ulyukayev as saying Moscow plans to sign contracts …

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Georgia may build Khudoni HPP independently

Georgia may refuse from private investments and build the Khudoni Hydro Power Plant (HPP) independently, Georgian Deputy Prime Minister, Minister of Energy Kakha Kaladze said at a meeting with students Dec. 8. Kaladze stressed the importance of the Khudoni HPP construction project for the country. “Currently, the negotiations are underway …

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German Loan To Strengthen Georgian-Armenian Energy Ties

The Armenian government secured a 85.2 million euro (105.6 million USD) loan from Germany aimed at facilitating a new transmission line between the national power grids of Georgia and Armenia. Germany’s KfW bank disbursed the loan through an agreement which was signed by one of its executives in Yerevan, along …

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Azerbaijan invests $95M to Georgia in 2014

Azerbaijan’s investments to Georgia amounted to $95 million as of the third quarter 2014, the Georgian National Statistics Service’s report says. The volume of foreign direct investments made in Georgia amounted to $508 million for three quarters of 2014, which is 99 percent more than in the same period of …

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