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Monthly Archives: January 2015

Price on Cars and Car Service in Georgia to Rise by 15-20%

Due to the depreciation of the national currency, the car market has lost customers because the cost of cars increased. Car dealers talk of passivity of buyers from among the citizens of Georgia and try to balance the situation by re-export. According to David Gogorishvili, the Executive Director of Iberia …

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Russia considers Greece bailout – finance minister Siluanov

Greece hasn’t outright asked Russia for a loan, but Russian Finance Minister Anton Siluanov said Moscow wouldn’t rule it out. His statement comes days after Greece openly opposed further economic sanctions against Russia. “Well, we can imagine any situation, so if such [a] petition is submitted to the Russian government, …

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Oil Importers do not Agree with PM’s Allegations

Prime Minister of Georgia Irakli Garibashvili accused the oil companies operating in the country of breaching   competition law. “We all know that in recent times the world price of oil fell sharply, and judging from the current trend, continue to fall. On this basis, in our country everyone is interested …

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Due to Unpredictable Political Situation, TeliaSonera May Exit Georgia

According to TeliaSonera End of the Year Report, service revenues in Georgia declined 8.9 percent in local currency, excluding acquisitions and disposals, mainly due to lower interconnect revenues. Billed revenues continued to grow, supported by strong data growth. The EBITDA margin, excluding non-recurring items, rose to 41.0 percent (37.8), mainly due …

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Gov’t allocates 50m GEL to support small farmers

The Government of Georgia is allocating 50 million GEL to support 800,000 small farmers conduct agricultural works in spring 2015. As a result more than 400,000 hectares of agricultural land will be cultivated, officials expected. The Government-led initiative to support small farmers had already been approved and was scheduled to …

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EU Foreign Ministers Extend Targeted Sanctions on Russia

Sanctions Extended by Six Months But Ministers Showed Little Appetite for Broader Measures European Union foreign ministers agreed Thursday to extend by six months targeted sanctions against individuals and companies in Russia and eastern Ukraine, but showed little appetite for broader new economic sanctions on Moscow. Under Thursday’s decision, EU …

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Food Prices Hiked 5% -10%

A permanent depreciation of the exchange rate of GEL in the last month has caused an increase in prices for the food products in most trade networks. The trade network Foodmart states that price of essential products hiked by 5%-10%  due to  the GEL  depreciation. The price increase would affect 30% …

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A glass of red wine is the equivalent to an hour at the gym

New research reveals skipping the gym in favour of the pub is ok. Research conducted by the University of Alberta in Canada has found that health benefits in resveratrol, a compound found in red wine, are equivalent to those that we get from exercise. Red wine over a heavy session …

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