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Daily Archives: May 10, 2016

IMF Mission Starts Meeting in Georgia from Tomorrow

IMF Mission Starts Meeting in Georgia from Tomorrow

IMF mission starts working in Georgia from May 11. The mission is headed by Mark Griffiths. The meetings are planned with the representatives of the government and NBG. Representatives of the Fund will remain in Georgia until May 25. IMF mission must estimate the economic condition. Georgia has to achieve agreements …

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Cement Exports Suspended from Georgia

Cement Exports Suspended from Georgia

Cement exports from Georgia made up 14.5 thousand USD in 2015 and only 400 USD in the first quarter of 2016. Such an unprecedented low indicator was not registered even in 1995. In 2008 the exports volume marked 80 million USD. Previously, Georgia-manufactured cement was exported mainly to Azerbaijan. The company …

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“The Main Thing in Life is to Find Yourself, to have Inner Balance and follow you Goals Tirelessly”

I would Never Work to Fulfill Superior’s Instructions

                                                                                              Mamuka Khazarad Chairman of the Supervisory Board of TBC Bank I am a mechanical engineer by profession. I graduated from the Georgian Technical Institute. Later I finished a three-year Executive MBA course at Harvard Business School in 2003. My first job was at a scientific-research institute. I was a head of …

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Results Of The Currency Auction for NBG

Results Of The Currency Auction for NBG

On May 10, 2016, the National Bank of Georgia purchased 20 000 000 USD on its Foreign Exchange Auction. The weighted average exchange rate was 2.2132. It should be noted that National Bank of Georgia had purchased such big amount of foreign currency (USD) 2 times in last week. Totally the amount made up …

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Temur Chkonia Wants to Take Lead from Sandora

Temur Chkonia Wants to Take Lead from Sandora

Businessman Temur Chkonia’s company  has  started operating on  the local natural  juice market. Coca-Cola Bottlers Georgia released Kapi juices to the Georgian market a week ago. In his interview with Commersant, the businessman says that the orange juice will be sold in the market at an early stage, however, in …

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Finca Bank Increased Loan and Deposit Portfolio

Finca Bank Increased Loan and Deposit Portfolio

Finca Bank increased loan portfolio by 24% (y-o-y) up to 183,5 million GEL. Deposits are grown 6 times. Former micro finance organization holds the banking license since August 6, 2013, respectively the bank started attraction of deposits from the mentioned period and it has a portfolio of 49,2 million GEL …

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Georgian Olive Entering the World Market

“Georgian Olive” Entering the World Market

The products of “Georgian Olive” will soon appear at the market from October 2016. Moreover, it is planned the production to enter the world market. The first, high-class olive processing plant is already operating in village Sakobo, Signagi Municipality. According to George Svanidze, founder of the company, he plans to …

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Direct flights from Georgia to The U.S. may be Set

Direct flights from Georgia to The US may be Set

The direct flights between Georgia and the U.S. might be set. About this information Georgian Economy Minister Dimitri Kumsishvili made a statement. Due to the fact that “Hualing Group” plans to bring new airlines on Georgian market, that will carry out flights to Asia and Europe. Additionally, it is planned direct flights …

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Georgian Tkemali, Jam and Confiture, Exported to Czech Republic

Georgian Tkemali, Jam and Confiture, Exported to Czech Republic

Georgian gravy (Tkemali), jam and confiture, under the name of “Nena” has already exported to the Czech Republic and Russian markets. As a company ,,Kakhetian Traditional Winemaking“, “Agro Keda” and “AgroChokhatauri” projects’ manager Solomon Baratashvili noted to “Business Press News“, negotiations are taking place with other several countries, including Ukraine and …

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Stores of Forever New to be Opened in Tbilisi

Stores of Forever New to be Opened in Tbilisi

New fashion clothing brand Forever New will be opened in Georgia. Businessman George Svanidze announces opening of stores of Forever New after New Look in Georgia by billionaire Tom Singh. Forever New is an Australian brand, which is the fastest growing chain in Georgia and holds more than 250 stores within …

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