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Daily Archives: July 4, 2016

Net Foreign Assets Increased by 130 mln USD in May 2016

Net Foreign Assets Increased by 130 mln USD in May 2016

As a result of the National Bank‘s interventions, net foreign assets increased by $ 130 million in May 2016, and the National Bank of Georgia (NBG) purchased $ 140 million in the foreign exchange auction. Through the government’s internal conversions, total net foreign exchange sales of NBG in May amounted to $ 10.0 million. Government deposits …

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SOCAR Specifies Construction Cost of Turkey’s Petlim Port

The cost of Petlim container port’s construction project in Turkey is nearly $282 million, a representative of Azerbaijan’s state oil company SOCAR told Trend. A 70-percent share in this project is owned by Turkey’s Petkim petrochemical complex, a 57.5 percent-share of which is owned by Azerbaijan’s SOCAR. Petkim’s leadership said …

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Number of Visitors is Increased by 19.9% Through 6 Months

Number of Visitors is Increased by 19.9% Through 6 Months

2 636 313 visitors were visiting Georgia through 6 months, the growth made up 12,9% compared to the previous year. Number of tourism visits is increased by 18,1%, which has constituted 1 011 680. International visits by the pace (January-June, 2016) Visit Type 2015: 6 months 2016: 6 months Change Change …

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Georgian Mineral Water Goes On Sale In Saudi Arabia

 In July 2016 exports of mineral and spring waters of Georgian company Sairme has started to Saudi Arabia. It should be noted this is the first case, when the Georgian drinking water enters the 32 million market of Saudi Arabia. At this stage, Amlak Trading Est company has exported 240 …

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The number of Tourists in Georgia Increased by 15% in June 2016

The number of Tourists in Georgia Increased by 15% in June 2016

The amount of international travelers in Georgia increased by 12.9% in 6 months period, – the head of the Georgian National Tourism Administration (GNTA) Giorgi Chogovadze said. According to him, the number of tourist visits exceeds last year’s data by 18.1%. The most of the visits were carried out from Azerbaijan (+ 18.1%), Turkey (+ …

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The EBRD Allocated US$ 155 mln to Rustavi Azot

The EBRD Allocated US$ 155 mln to Rustavi Azot

“European Bank Reconstruction and Development” (EBRD), is considering extending financing of up to US$ 155 million (€136 million) to Rustavi Azot LLC. The agreement is already signed among the sides and it should be matered after several procedures. According to the company, the project is expected to achieve a positive transition …

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TBC Bank Professionals to Manage Clients’ Free Financial Resources

TBC Bank, for the first time in Georgia, plans to introduce a financial assets professional management system in the country. TBC Bank offers clients to use the service of professionals in managing their free money resources. To this end, an investment foundation has been established with support of TBC Bank …

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Helping Farmers Grow More, Better

Helping Farmers Grow More, Better

Most of Georgia’s smallholder farmers are not achieving their full productivity potential. This is largely due to a lack of information across the agricultural value chain. Traktor enables farmers to increase output by at least 30% through a) distance training through tutorial videos; b) highly localized weather and climate reports and …

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Trying to Save Endangered Grape Varietals in the Republic of Georgia

Trying to Save Endangered Grape Varietals in the Republic of Georgia

Imagine arriving in a foreign land where the houses are covered in grapevines and wine tasting takes place on the sidewalks. The architecture is filled with images of vines and grapes, and ancient fortresses and monasteries dot the hillsides. Wine is made in qvevri pots buried deep in the earth, and each …

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Annual Inflation Rate Posted 1.1% Decrease in June

In June 2016 the monthly inflation rate amounted to -0.9 percent in Georgia. Compared to the same month of the previous year the Consumer Price Index change (annual inflation rate) posted a 1.1 percent increase.Compared to 2010 average the index rose 15.5 percent. The following table shows percentage changes in …

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