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Daily Archives: June 27, 2016

NBG: GEL Was Strengthened More than the Fundamental Factors Conditioned

NBG: GEL Was Strengthened More than the Fundamental Factors Conditioned

Vice-President of National Bank of Georgia estimates the recent drop of GEL rate. Archil Mestvirishvili explains, that commenting on instant change of GEL rate is not correct in order to avoid creation of expectations at the market. Manager of NBG names the reasons, which caused fluctuation of GEL rate. “Due to …

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How to Save More When Using A Credit Card

Exclusively for Caucasus Business week, pieces of advice from TBC Bank’s regional director Levan Diasamidze. What is a credit card and how is it different from a debit plastic card? A plastic card is an inseparable part of modern banking system. It enables us to make payments for products or …

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Why Mobile Tariffs are on Rise?

Over the past 3 years the interconnection tariff has declined from 8 Tetri to 3.5 Tetri, while individual call tariffs have increased by 240%, from 10 Tetri to 24 Tetri. The cellular communications market of Georgia has always demonstrated principles incompatible with the free competition standards. There were times, when for 20 …

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Southern Gas Corridor to Ensure Azerbaijan Economic Profits

Southern Gas Corridor to Ensure Azerbaijan Economic Profits

The Southern Gas Corridor project will let Azerbaijan gain at different oil prices, both from sale and transportation of hydrocarbons, from $30 up to $50 billion, according to preliminary calculations, Shahmar Movsumov, the executive director of the State Oil Fund of Azerbaijan (SOFAZ), said in an interview with Caspian Energy …

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Prices of BGEO Shares Declined

Price is Dropped on BGEO Shares

Price was dropped on BGEO Group (BGEO LN) shares in London in the previous week. BGEO Group (BGEO LN) shares closed at GBP 24.50/share (-2.08% w/w and -2.00% m/m). According to Galt & Taggart, More than 453k shares traded in the range of GBP 23.11 – 26.79/share. Average daily traded volume …

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George Soros Did not Bet Against Sterling Just Before Brexit Vote

George Soros, the billionaire who earned fame by betting against the pound in 1992, did not speculate against sterling just ahead of Britain’s vote to leave the European Union but he did profit from other bearish bets due to the Brexit result, a spokesman said.  “George Soros did not speculate …

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Current Condition Of Commercial Banks’ Loan Portfolio

The volume of lending by commercial banks (including loans to non-residents) in May 2016 decreased by 274.0 million GEL or by 1.8 percent compared to the previous month and constituted 15.2 billion GEL by June 1, 2016. The volume of loans in the national currency increased by 10.3 million GEL …

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Kazakhstan Called for the Shipping Companies to Use Georgian Corridor

Kazakhstan Called for the Shipping Companies to Use Georgian Corridor

Kazakhstan called for the shipping companies to use new Silk Road (via Georgia and Azerbaijan) while transporting cargo from Ukraine. “From July 1, Kazakh Investment and Development Ministry gives recommendation on cargo transport by the following rout: Georgia, Azerbaijan, Caspian Sea, Aktau, as well as Turkey, Iran, Turkmenistan and Uzbekista”, …

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Tskali Margebeli Launches Production of Natural Juices

nabeghlavi

Tskali Margebeli company plans to launch production of natural juices. To this end, the company will construct a nonalcoholic beverage bottling plant in Nabeghlavi, jointly with Swiss and Austrian institutional partners. The plant construction works started in June 2015 and will end in August 2016. The project is being implemented partly …

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New Terminal for Tbilisi International Airport Launched

By the end of 2017 Tbilisi International Airport will offer new arrivals terminal to the visiting guests. Due to the large influx of tourists, the construction of the arrivals terminal begins earlier than planned. The area of the new arrivals terminal will be 12 000 sq. meters. Around 500 people …

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