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Daily Archives: July 6, 2016

Relais of Termal Group got Interested to make Investments in Tskaltubo

Relais of Termal Group got Interested to make Investments in Tskaltubo

Partnership Fund has hosted representatives of  Spanish company Relais of Termal Group. According to the fund, world famous owner of health and spa centers has arrived in Georgia with concrete investment proposals. The guests make focus on development of resort zone in Tskaltubo and to introduce investment potential of the country. …

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Lionel Messi ‘given 21-month jail Term’ in Spain

Lionel Messi 'given 21-month jail Term' in Spain

Argentina and Barcelona footballer Lionel Messi has been sentenced to 21 months in prison for tax fraud, Spanish media say. His father, Jorge Messi, was also given a jail term for defrauding Spain of €4.1m (£3.2m; $4.6m) between 2007 and 2009. During the trial, prosecutors said tax havens in Belize and …

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ADB Sells 64 Million Georgian Lari Bond to Lift Microenterprises

The Asian Development Bank (ADB) has raised GEL64 million (approximately $30 million) from a Georgian lari denominated bond sale to support development of the local capital market and microenterprises in Georgia. “Microenterprises play a critical role in employment creation in Georgia and getting better access to bank financing will help …

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STADLER’s Double-Decker train is Already in Tbilisi

STADLER’s Double-Decker train is Already in Tbilisi

Swiss-based company STADLER’s double-decker train, manufactured for Georgia by the company, is already in Tbilisi. According to “Georgian Railway”, two trains are already in Georgia. Swiss specialists are to arrive soon. They should carry on preparation works and test run, after which the trains will be put under the operation. However, …

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Slovak Foundation IPM Management LLP to Make Investments in Georgia

David Saganelidze, the executive director for the Partnership Fund of Georgia, has hosted Mathian Bosek, managing partner of Slovak Foundation IPM Management LLP that is interested in making investments in Georgia. With focus on energy, infrastructure and real estate sectors, the Slovak Foundation makes investments in various European countries. Besides …

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Incompetent Members will Make Audit Commission Useless Body

The process of formation of bookkeeping, accountability and audit commission is underway. The commission will unite 7 bodies, including 4 ones from state structures and three ones from professional organizations, business associations and academic circles. If the commission is staffed with incompetent persons, the body will go useless, Zurab Lalazashvili, …

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Georgia and Turkmenistan to Start Regular Direct Flights

Ashkhabad

Representatives of the aviation agencies of Georgia and Turkmenistan have held negotiations in Ashkhabad, the capital city of Turkmenistan. The parties have discussed perspectives for starting direct flights between the two countries. The decision on negotiations had been taken  at the second session of Georgia-Turkmenistan  intergovernmental commission for economic cooperation …

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Ratio of Bad Loans in Bank Sector Grows

The ratio of bad loans has increased in the bank sector, but the indicator still remains at low level and makes up 3.8% as of June 1. The volume of bad loans accounts for 579 million GEL (561 million GEL as of May 1, 2016). Loans (nonstandard, doubtful, bad) are regulated …

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Live Chain for Supporting Patients with Rheumatoid Arthritis

Members of the Rheumatoid Arthritis Union organized a campaign ‘Everything is in Our Hands”. The patients aim to reach every member of the community with an important message. They are requesting funding for treatment of rheumatoid arthritis for adult citizens. With signatures collected through an online petition, the campaign participants …

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