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Daily Archives: February 10, 2016

Leo McKenna: Tbilisi Clinics Rehabilitation Project Accounts for 250 million

AlphaMedic plans to invest about 250 mln GEL in rehabilitating three clinics in Tbilisi, namely, Tbilisi Children’s Infectious Clinic Hospital, the former Republican Hospital and the Universal Medical Center (the former Oncology Center). Under the medical clinics development project, three companies had submitted proposals for the government-announced tender. However, only AlphaMedic …

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One more Russian Company Expresses an Interest Investing in Georgia

tower

Russian company „Русские башни“ known as a volunteer of purchasing towers of “VimpelCom” is interested in Georgian market. According to the chief of the particular company, Alexander Chubi stated that further plans the company has is about to enter to International market, including Georgian one which is the most substantial …

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Non-core Banking Activity Creates Economic Problems

Non-core Banking Activity Creates Economic Problems

An interview with David Onoprishvili , the former head of the financial-budgetary committee of the Georgian Parliament Despite numerous promises, the national currency continue its free  fall. Some economists believe that the reason for the devaluation lies in  the banking sector. Do you agree with this assessment? It is obvious …

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Banking and Finance Survey: 69% of Readers Demand to Ban Online-loans

"Banking and Finance" Survey : 69% of Readers Demand to Ban Online-loans

The majority of “The Banks and Finance” readers demand to ban online-loans in Georgia. According to the newspaper, along with the rise in popularity of online-loans, public discontent is growing in this regard. The expert circles have been actively discussing the introduction of regulations in the sector. In the period …

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Heineken, Carlsberg Forecast Profit Gains as Asia Sales Rise

Heineken, Carlsberg Forecast Profit Gains as Asia Sales Rise

Heineken NV and Carlsberg A/S, the world’s third- and fourth-largest brewers, forecast higher profit this year as markets such as Vietnam and southeast Asia offset weakness in Russia and China. Sales and profit will both increase in 2016 even with an “increasingly challenging external environment,’ Amsterdam-based Heineken said in a statement …

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IBRD Allocates $140m in Construction of Road Section in Georgia

Road Georgia

International Bank for Reconstruction and Development (IBRD) will allocated 140 million USD for funding construction of Zemo Osiauri-Chumateleti road section. The relevant agreement has been signed by Nodar Khaduri, minister of Finance and Mercy Tembon, the World Bank’s Regional Director for the South Caucasus on Wednesday. The project envisages construction …

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Turkish Airlines Holds Major Ratio on Georgian Aviation Market

Airplane

Turkish Airlines is reported to be controlling the Georgian aviation market by holding 20% market ratio, based on the report of 2015. According to the Civil Aviation Agency, in 2015 the airline served 434 904 passengers at Georgian airports, but it should be noted that Turkish Airlines for the past …

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Amazing Street Art in Georgia

Street art is visual art created in public locations, usually unsanctioned artwork executed outside of the context of traditional art venues. The term gained popularity during the graffiti art boom of the early 1980s and continues to be applied to subsequent incarnations. Street art in Georgia is different, and derives from Georgian …

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EU May Cancel Visas for Georgians by This Summer

The EU may cancel visa regime for Georgia by summer of 2016, EU Commissioner for Migration and Home Affairs Dimitris Avramopoulos said at a joint briefing with Georgian Prime Minister Giorgi Kvirikashvili, Sputnik Georgia news agency reported. In June 2014 the EU and Georgia signed an Association Agreement, which includes …

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