Will the Competition Agency examine the pharmaceutical market of Georgia to identify monopolies and cartel deals? The Agency withholds itself from announcing its future plans. The pharmaceutical market is not being studied currently, according to the Agency representatives. Experts believe that the pharmaceutical market will be primary examined by the …

According to the permanent representative of the International Monetary Fund (IMF)  in Georgia Azim Sadykov, amid uncertainty caused by stripping  the central bank of a supervisory  role , commercial banks may face problems with the capitalization. Parliament adopted amendments to the Law on the National Bank that envisage stripping   the …

But what if you travel elsewhere? Holiday season is on, so food ordering service foodpanda (www.foodpanda.ge) selected 9 destinations and their peculiar drinking habits to help you celebrate with locals when traveling abroad. All countries have their habits and eccentricities and if you want to have the authentic experience, you should follow them. For …

Russian information agency RBK quotes three Rosneft insiders saying that two vice presidents have left the major Russian oil company.  Rosneft security vice president Nail Mukhitov and the president Igor Sechin’s apparatus manager, Rashid Sharipov, have allegedly left the oil company. Rosneft website states that the contracts  of the two …

LTD Metro Atlas Georgia will realize a USD 90 million investment in Ajara by building a 13-story hotel Metro City. The hotel will have at least 203 rooms. Together with the hotel, the territory has 3 different buildings, which in total will have 594 apartments.  At this point, 6 stories …

As many as 30% of the work on the implementation of the Southern Gas Corridor project has already been completed, German media reported July 21 citing Rovnag Abdullayev, president of the State Oil Company of Azerbaijan. “Contracts have been signed with 162 suppliers from 23 countries,” said Abdullayev, adding that …

FIFA’s ex-president Sepp Blatter was showered with fake dollar bills at a press conference by an English comedian Lee Nelson. The intruder was immediately escorted by security officials from the press conference, according to social media reports.  Blatter looked embarrassed and said that the incident “had nothing to do with …

BRICS New Development Bank (NDB) has opened for operations in Shanghai, and will seek to deploy its $50 billion initial capital to fund infrastructure and sustainable development projects. Chinese Finance Minister Lou Jiwei, Shanghai Mayor Yang Xiong and NDB chief Kundapur Vaman Kamath  attended the ceremony, China Radio International reported. …

“Georgia has defined its own path as a closely associated partner of the EU and our bilateral relations are strong,”- European Council President Donald Tusk stated at yesterday’s press conference held alongside the President of Georgia. Donald Tusk expressed his condolences to the families of victims of the June 13 …

Germany will free Iran’s oil equipment, which has been blocked in Germany, said Mohammad Hossein Peyvandi, the deputy managing director of the National Iranian Petrochemical Company.  Peyvandi made the remarks in a meeting with Germany’s Minister for Economic Affairs and Energy Sigmar Gabriel, who leads a high-ranking delegation to Tehran, …

Beer and soft drinks manufacturers will meet the business ombudsman today. The mandatory labeling of soft drinks will be the main topic of the meeting. The meeting will touch on the elimination of the ban on drinking alcohol in the yards. CBW was told at Natakhtari that the business ombudsman …

The Georgian government has decided not to listen to foreign investors. An absence of qualified advisors is one of the main problems causing a rift between the private sector and the government in Georgia, Mahmoud Davari, a founder of Iran-Georgia Business Development Centre says. Iranian investors are investing over USD …