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Daily Archives: May 23, 2016

Construction of $120m Hotel To Start in Batumi

Orbi Group plans to launch construction of Twin Tower, a new international-standard hotel complex, in Batumi. The project combines two 45-floor blocks that will hold 4 500 hotel suites. The new complex will be erected on Khimshiashvili street in Batumi. “Twin Tower complex ranks 6th worldwide in terms of hotel …

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Lari Strengthens again: Economist Overviews the Trend

The national currency of Georgia is strengthening at high paces. Starting March 2016 LARI started revaluation in relation to USD. Our society has seen the national currency affixed even at 2.49 point against USD, after the 18-month history of depreciation ended in hitting the historical bottom of 2.49 point. Starting …

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Leicester City Effect: New Term in Georgian Economy

The World Bank (WB) has published a report of the final expertise from the world’s 17 leading analytical centers. Georgia has recorded four historical highs in the report. The WB publishes the Worldwide Governance Indicators (WGI) on annual basis to assess the quality of governance in more than 200 countries …

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Hilton Batumi Warms up for Summer Season

Stuart Nelson/ Hilton

It’s been a year since world’s leading luxurious brand Hilton opened its first hotel in Georgian seaside town Batumi, however it has established itself as one of the accessible and trendiest hotels in Georgia. Soon hotel plans to expand its activities through the whole country and region. CBW has contacted Stuart Nelson General Director …

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MEETING ROOM – A Cycle of Business Conferences by PASHA Bank

PASHA Bank is launching a new project, cycle of business conferences – MEETING ROOM. The project aims to bring together participants from various industries providing a platform for sharing ideas and best practices as it relates to raising the capital for various projects in respective industries. The first business conference …

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Iran’s Taban Airlines Enters Georgia

Iranian airline Taban Airlines plans to launch operation on the Georgian air market. The airline will perform charter flights, including: Isfahan-Tbilisi-Isfahan – twice a week; Tehran-Tbilisi-Tehran – twice a week;  Mashhad-Tbilisi-Tavriz – once a week; Tehran-Batumi-Tehran – once a week; Tavriz-Batumi-Mashhad – once a week; The civil aviation agency has issued …

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Commercial Banks Preserve 7.459 billion GEL Retail Deposits

The volume of retail deposits has shrunk. As of May 1 commercial banks have drawn 7.459 billion GEL retail deposits (-1.6% m/m). 66.8% of the deposits are stored at two leading commercial banks, including 2.475 billion GEL – at Bank of Georgia and 2.504 billion GEL – at TBC Bank.

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Commersant Exclusive: National Bank Fines Microfinance Organizations

The financial monitoring service of the National Bank of Georgia have inspected microfinance organizations and fined several of them. The Commersant has obtained this exclusive information from a reliable source saying that several microfinance organizations will have to pay 100 000 GEL fines after the inspection. According to the source, …

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