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Daily Archives: March 1, 2016

Ural Airlines to Launch Direct Flights to Batumi

Ural Airlines plans to implement direct flights from St. Petersburg to Batumi starting May 16. The St. Petersburg-Batumi-St. Petersburg flights will be performed twice a week, Wednesdays and Fridays, from Pulkovo Airport, the Ajara Tourism Department noted. Representatives of the Ajara tourism and resorts department attended the Ural Airlines presentation …

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Georgia to Draw 2 billion USD Investments under South Corridor Projects

Georgian Energy Minister Kakha Kaladze attended the one-day ministerial of the Advisory Council of the Southern Gas Corridor in Baku, Azerbaijan. The Ministerial discussed the implementation of the Shah-Deniz second phase, as well as TANAP and TAP projects, where Georgia participates as a strategic partner. Georgia is expected to attract …

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Georgian Azerbaijani Company to Produce TV Sets

Georgian-Azerbaijani Company to Produce TV Sets

The Azerbaijani Georgian enterprise of electronic products, AG Telekom has announced about launch of production of televisions. Company’s Director Mikheil Ghlonti told Georgian Online that Georgian televisions will cost cheaper than imported brands, varying between $180-$280. “32-inch (81 cm) TV will cost $180 and 40-inch (101 cm) will be on …

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Microfinance Sector’s Assets Grew by 31.3% in 2015

In 2015 microfinance organizations increased their assets by 31.3% to 1.611 billion GEL (36% in 2014 and 18% in 2013). The loans portfolio marked 1.2 billion GEL (852 million GEL in 2014. The annual growth marked 41% year on year. Loss reserves in relation to the portfolio do not exceed …

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Commercial Banks Raise Interest Rates on Individual Loans

Commercial Banks Raise Interest Rates on Individual Loans

Commercial banks have raised interest rates on individual loans. Namely, in February the annual interest rate on a long-term (+10 years) GEL denominated mortgage loan made up 15.71% on average, up 204 base points compared to the previous month (13.67% as of 01.01.2016). The auto loan (up to 10 years) …

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With A Georgian Passport Travelers can Enter 67 Out of 218 Countries

When it comes to crossing international frontiers, there’s one travel document that opens more doors than any other. With a Georgian passport, travelers can enter 67 out of 218 countries and territories without a visa, according to the 2016 Visa Restrictions Index. German citizens, it seems, have the potential for the greatest …

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Georgia’s Sovereign Bonds Rise in Price

The price of Georgia’s sovereign bonds has increased to 105.2 USD (w.w). Last week (15-20 February), the yield on Georgia’s sovereign bonds marked 5.7% (L/w – 5.8%). The yield on GEORG bonds rose by 0.6% (L/w –USD 104.6). Different trends are demonstrated by bonds of the neighboring countries. Namely, Azerbaijan’s …

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Price of TBC Bank Shares Grows at London Stock Exchange

Price of TBC Bank Shares Grows at London Stock Exchange

The price of TBC Bank shares (TBCB LI) at the London Stock Exchange (LSE) has increased. In the previous week, the TBC Bank shares were traded at 8.75 USD-10.35 USD. The session week closed by 9.04 USD (+0,44%  w/w;  -10,5% m/m).  During the reporting week deals were made on more than …

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