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Monthly Archives: August 2016

2481 Construction Licenses Issued in Tbilisi in 2016

In January-June 2016, a total of 1334 new buildings were constructed in Georgia, including 416 ones are located in Tbilisi. According to Geostat, the national statistics service of Georgia, residential buildings rank first in total quantity of new facilities, i.e. 708 ones. The quantity of commercial facilities is 201, industrial …

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Universal Internetization comes for Rural Areas

Along with arrangement of optical-fiber network, additional infrastructure will be developed at local level. The Government has approved a broadband infrastructure development state program. Prime Minister Giorgi Kvirikashvili noted that the program comprises an action plan on how to create optical-fiber internet network in more than 2000 cities and villages …

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What Should you Know About Deposits?

levan_diasamidze

A deposit is a widely used  banking product that offers customers monetary benefits in exchange for saving their money in a bank for a certain period of time. TBC Bank’s regional director, Levan Diasamidze, explains what you should know about how deposits work and what benefits they offer. What is …

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Georgia’s First Medal at Rio Olympics

Lasha Shavdatuashvili

Lasha Shavdatuashvili captured Georgia’s first medal of the Rio Olympic Games after winning bronze in men’s 73-kilogram category in judo on August 8. Shavdatuashvili defeated Israeli judoka Sagi Muki with ippon in the bronze medal match. It is the second Olympic medal for 24-year-old Lasha Shavdatuashvili, who won the gold in …

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Chokhatauri and Keda Produced Fruit Products to Be Sold in China

Chokhatauri and Keda Produced Fruit Products to Be Sold in China

The company “Nena” products will be exported to China. As the company’s founder Zurab Chkhaidze told “business contact”, the first batch will be sent to China in the near future. Accordingly, Keda and Chokhatauri produced fruit products, jams, stewed fruits and pelamushi will be sold in China at “Georgian House”. According …

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Credit Portfolio of Commercial Banks Grows in June

In June 2016 the crediting portfolio of commercial banks (including loans issued to nonresident entities) has increased by 1.2 billion GEL (+7.8 month on month). The exchange rate growth without effect made up 2% month on month, according to the statistics by the National Bank of Georgia (NBG). The credit …

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Currency Reserves Marked 2.856 billion USD as of August 1

Currency reserves made up 2.856 billion USD as of August 1 (-0.04% month on month; +16.7% year on year). In June and May reserve assets increased, while in April the indicator declined (-$4.5 million month on month), after sovereign Eurobonds were covered by coupons. Currency reserves in May-June increased thanks …

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WizzAir to Perform Kutaisi-Larnaka Flights for 19 EUR

WizzAir Airline to Perform Kutaisi-Larnaka Flights starting 19 EUR. The Kutaisi international airport official website says that starting September 24 WizzAir airline will perform direct flights from Kutaisi to Larnaka. “Sandy beach, clean water, palms, yummy cuisine – This is Larnaka, the seaport of Cyprus. Pleasant breeze always blow here …

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Georgian Designer’s “Bazar” Laundry Bag Costs $2,500

Select pieces from Demna Gvasalia’s debut at Balenciaga are starting to roll out now, first of which is the “Bazar” bags and wallets, which are basically luxe versions of the cheap laundry bags you’ll find in Asian markets all over the globe. Unsurprisingly, Balenciaga’s version of the shopping bag is …

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Life Goes On – Additional Source of Income for Pensioners

pensioners Georgia

Life Goes on” is Georgian Dream’s promise to the pensioners. The coalition will hold presentation of the program in the coming days and it envisages pensioners employment and tax benefits for the companies that employ pensioners. “This does not imply raise of social benefits of any pension. This is extra …

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Hillary Clinton’s Favorite Georgian Wine Costs 600 GEL

Hillary Clinton’s Favorite Georgian Wine Costs 600 GEL

 Hillary Clinton, the Democratic candidate in American presidential elections, has her own favorite wine in Georgia, and it turns out she often orders a couple of bottles. The red wine called Kvareli was first tasted by Hillary during her first visit to Georgia. She was the Secretary of State back then …

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Russia is Still Number One Exporter of Georgian Wine

As of January – July, 42% more bottles of wine were exported from Georgia. However, wine of 23 932 067 bottles (0,75 l) is exported in 44 countries during the reporting period. Cost of exported wine from Georgia totals to 55,3 million USD, which exceeds by 16% comparing to the …

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