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Daily Archives: May 3, 2016

72% of Vineyards in Georgia Grow in Kakheti Region

Harvest in Georgia

The space of vineyards owned by farmers in Georgia makes up 33.0 thousand hectares. According to the general report by Geostat, the national statistics service of Georgia, an averaged space of vineyards in each farm makes up 0.3 hectares. 95.4% of vineyards grow on less than 1 hectare space each, …

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Azerbaijan’s SOCAR: No Financial Obstacles to Developing TANAP Project

There are no financial obstacles to developing the Trans-Anatolian Natural Gas Pipeline (TANAP) project, Vagif Aliyev, head of the investments department at the State Oil Company of Azerbaijan (SOCAR), told the Natural Gas Europe website. “Despite the low oil price and the need for foreign loans, the development of TANAP …

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The Underground World of Georgian Wine

When you arrive at passport control in the Tbilisi airport, a border agent checks your documents, gives you a once-over, and hands you a bottle of wine. I’m not actually sure if this is always the case, but it was when I landed in the world’s self-proclaimed “Cradle of Wine” …

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National Bank’s International Reserves Grow by 29 million USD

Reserves

In March the official international reserves of the national bank of Georgia (NBG) increased by 29.4 million USD as compared to February 2016. In the reporting period, the NBG increased reserves by 15 million USD at currency auctions. Transactions carried out at the treasury have also replenished the reserves. In …

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Lishnu to Export Svanetian Salt to Europe and Asia

Lishnu to Export Svanetian Salt to Europe and Asia

Lishnu Svanetian salt will be exported to Europe and Asia. The company manufactures the product in Mestia, the Svaneti Region. First products of  Svanetian salt appeared in the market last summer, while this year the company plans to re-equip the enterprise and expand the output. Namely, the Svanetian salt will …

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Commercial Banks’ Credit Portfolio Shrinks by 241.4 million GEL

Commercial Banks’ Credit Portfolio Shrinks by 241.4 million GEL

In March, as compared to February, commercial banks have cut credit injections in the economy by 241.4 million GEL and the crediting volume fell to 15.62 billion GEL. The credit portfolio shrank after the GEL ratio in foreign currency denominated loans narrowed. The annual growth rate in loans portfolio at …

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PASHA Bank Easter Charity

PASHA Bank congratulated its partners and clients on Easter in a traditional way: on behalf of its stakeholders the Bank transferred the amount to charity organization SOS Children’s Village that will be used to fund full-year English language courses for all university applicants living in the Village. Association SOS Children’s …

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Ajara Hosts Expo Batumi 2016

Expo Batumi

On May 13-15 EXPO Batumi 2016, the 9 th international exhibition of tourism and hotel equipment, will open in Batumi, the Ajara Region. The exhibition is organized by GEONET EXPO, one of the first international exhibition companies in Georgia. The event’s attractiveness and efficiency grows year to year. Both domestic …

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Georgia’s Joining Energy Community to Affect SOCAR Activities in Country

Georgia’s accession to the Energy Community will affect activities of the State Oil Company of Azerbaijan (SOCAR) in Georgia, the country’s Deputy Energy Minister Mariam Valishvili told Trend. Valishvili said that Georgia is currently holds talks regarding accession to the Energy Community, and in case of success the country must …

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