Home / 2016 / February / 04

Daily Archives: February 4, 2016

Tetnuldi Ski Resort to Receive Visitors This Weekend

Tetnuldi

The resort of Tetnuldi in the Svaneti Region will receive the first visitors this weekend. Initially, a 7-km skiing piste and one ropeway will launch operation. The works will be finished by the end of 2016. Sandro Onoprishvili, the head of the mountain development company, told the Business Contact that …

Read More »

Georgia’s Custom Service Simplifies Within the Support of Georgian Railways

Levan Kukava

Electronic information exchange system has been created by branch of Georgian Railways World Business Solutions, commercial services and Georgian custom office. The system enables customs officers to control distribution and electronic information of existed cargo. Exchange of electronic information provides clients and custom office to sign documentation in short time. …

Read More »

Georgia’s Commercial Banks Reap Record Profits

According to the National Bank of Georgia (NBG), net profits of Georgia-based commercial banks in 2015 marked 537 million GEL, up 63 million GEL compared to 2014 (475 million GEL). In December 2015, commercial banks reaped 84.5 million GEL more profits compared to November 2015. In 2015 the Georgian bank …

Read More »

Wizz Air Airline to Unveil Region’s First Base at Kutaisi Airport

wizz-air

Union of Georgian Airports of the Ministry of Economy and Wizz Air Hungarian airline have reached agreement to unveil a Wizz Air base at the Kutaisi David Aghmashenebli International Airport in 2016. After successful completion of the multiyear negotiations, Wizz Air, the central and eastern Europe’s biggest low-cost airline will …

Read More »

French Family Bakery Chain Paul to Open in Tbilisi

Another international French bakery/cafe chain PAUL enters Georgian market. The first café of PAUL will be placed in Abashidze str. Opening of the café is planned in April. The company has already opened the vacancies. Part of the staff will go trainings in France. It should be noted, that the first café/bakery …

Read More »

FINCA Bank Georgia Became Official Sponsor of “Diamond Challenge Georgia”

Finca Bank Georgia

FINCA Bank Georgia became official partner of EMT- Education and Management team providing financial and professional support to “Diamond Challenge Georgia” for high school entrepreneurs. According to the agreement signed between EMT- Educational and Management Team and FINCA Bank Georgia, Bank will cover administrative expenses of the project and transportation …

Read More »

South Korean TV Company Makes Documentary on Georgia

South Korea Documentary

One of the most popular Korean TV company is making a documentary on tourism capabilities of Georgia. Korean Broadcasting System group is visiting Georgia upon the invitation of the National Tourism Administration of the Ministry of Economy and Sustainable Development of Georgia. Camera crew of 8 of the documentary unit …

Read More »

Georgian Pharmaceutical Companies About Anti-Crisis Plan

Georgian pharmaceutical companies talk about the reasons of dramatic increase of drug prices. “We do not want drug prices to rise, but at the same time it is hard to maintain the company in such conditions, company can hardly exist without any profit,”Founder of Aversi Paata Kurtanidze said. According to pharmaceutical …

Read More »

Putin May Be Own Biggest Hurdle in Plan to Woo Foreign Investors

Putin May Be Own Biggest Hurdle in Plan to Woo Foreign Investors

President Vladimir Putin is considering selling stakes in some of Russia’s state jewels to foreign buyers to raise cash for an economy brought to its knees by the collapse in oil prices and sanctions related to Ukraine. Investors are dubious. On the surface, an opportunity to buy into such firms …

Read More »

Drug Importers Developing a Crisis Management Plan

Drug Importers Developing a Crisis Management Plan

Georgian importers are developing a crisis management plan – Ilona Kokiashvili, the head of the Georgian Association of Pharmaceutical Companies, told CBW. In her words,  90-95% of medicines on the Georgian market are  imported, which means they are acquired in the currency and their value depends on the exchange rate of …

Read More »