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Daily Archives: May 25, 2015

Tbilisi is Getting Ready For Independence Day

CBW

Independence Day  is an annual public holiday in Georgia observed on 26 May and It commemorates the 26 May 1918 adoption of the Act of Independence, which established theDemocratic Republic of Georgia in the aftermath of the Russian Revolution of 1917. It is the national day of Georgia. Independence Day …

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Currency Trends of Deposits in Georgian Banks

Currency trends of deposits in Georgian banks

Latest trends of deposits made in Georgian banks show the total volume of non-bank deposits, time deposits and demand deposits are growing in Georgia. At the same time, the percentage share of Georgia’s national currency has in all currency usage otherwise called the Larization ratio], is also increasing. Today the National …

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Georgia-US Joint Military Noble Partner Exercise Ends

Georgia-US Joint Military Noble Partner Exercise Ends

The joint Georgia-United States (US) military exercise Noble Partner 2015 has officially closed at the Vaziani Air Base in eastern Georgia. A closing ceremony and a special demonstration training by the American and international infantry fighting vehicles was held yesterday on the final day of the exercise. President of Georgia …

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“TBC Bank”: When Analyzing the Situation, Populism should be Forgotten

"TBC Bank": When Analyzing the Situation, Populism should be Forgotten

An interview with Mamuka Khazaradze, Chief Executive of “TBC Group” Recently, accusations of Georgian commercial banks in fostering the devaluation of the national currency have become frequent. Many claims are voiced about the transactions of banks that the government does not control. How would you evaluate these accusations? Commercial banks …

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Transnational Companies Interested in Anaklia Port Project

Transnational Companies Interested in Anaklia Port Project

The largest transnational companies interested in Anaklia Port project as a result of the Anaklia Development Consortium’s visit to China. Mamuka Khazaradze, along with US partners, met the leadership of the companies COSCO Pacific, TEDA and the China Development Bank. COSCO Pacific is the world’s fourth largest port operator, with …

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Georgian Lari Devaluation Harmed Tour Operators

Georgian Lari Devaluation Harmed Tour Operators

The devaluation of the national currency has reduced the number of customers of tour operators working on outbound tourism by 30%. The reason for this is the economic crisis and consequently, a reduced purchasing power of the population. “Love Travel” company says that consumers generally, as well as in previous years, …

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Business Associations Negatively Evaluate Changes in the Banking Supervision

Business Associations Negatively Evaluate Changes in the Banking Supervision

Business Association of Georgia, American Chamber of Commerce, International Chamber of Commerce, EU-Georgian Business Council, Georgia Employers Association and the Association of Bank of Georgia released a statement saying that they extremely negatively assess unfounded suspicions towards the country’s banking system and individual commercial banks about the alleged participation in …

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