Daily Archives: September 22, 2016

Marriott International Officially Merges With Starwood Hotels

Marriott International Officially Merges With Starwood Hotels

With more than a million rooms combined, Marriott and Starwood now make up the largest hotel company in the world. After months of rumors about a takeover of the struggling Starwood Hotels & Resorts Worldwide hotel company, in the end, it was Marriott International that sealed the deal. Marriott announced …

Read More »

Products of Georgian Handbag Brand Gepherrini Will Appear in France

Gepherini bags

 Georgian handbag company Gepherrini will sell its products in France. Products have already entered the EU market and customers will be able to purchase them in near future. At first bags will be sold in Nice. As the head of the company Ilia Gepheridze told Businesscontact, at this stage bags are …

Read More »

BP: Shah Deniz 2 Project 82% Complete

Shah Deniz

The execution of Shah Deniz Stage 2 project, one of the largest gas developments in the world is implemented by almost 82 percent, and the work is continued in accordance with the schedule, BP, which acts as an operator of the project reported. “Work on the expansion of Sangachal terminal …

Read More »

Azerbaijan to Start Transportation via South-West Route Soon

Azerbaijan plans to send first two wagons with 90 tons of light petroleum distillate via the South-West transportation route soon, said the message from the country’s ADY Express company. ADY Express has already started test transportation via this route, according to the message. The company will send two test wagons …

Read More »

China Daily: Georgian Wine Industry Toasts Trade Pact

A day after China and Georgia announced they will sign a free trade agreement later this year, Georgia’s agriculture minister said the two countries’ wine industries will quickly be big beneficiaries. “Our countries have a special relationship that goes back to the Silk Road era and before,”said Levan Davitashvili, who …

Read More »

Georgian Wine Week 2016 Launched

wine-week

Today starts the Georgian Wine Week, organized by Georgia’s Ministry of Agriculture and National Wine Agency. A number of events will be held throughout Georgia till October 2. Wine festivals will be held in Telavi and Marneuli, including wine contests and other activities. The Week starts on September 22 with …

Read More »

Deposits Yield Drops to Historical Bottom

Deposits Yield Drops to Historical Bottom

Deposits yield has dropped to historical minimum. The interest rate has even zeroed on currency demand deposit. Liberty Bank provides highest yield on GEL- and USD-denominated deposits with 1-year maturity period.     GEL USD-EUR 1 Liberty Bank 10,5% 4%●1,5% 2 Bank Republic 9,5% 3,5%●1% 3 Bank of Georgia 8,0% …

Read More »

TOP-3 Commercial Banks in terms of Deposits Placement

TOP-3 Commercial Banks in terms of Deposits Placement

70% of retail and corporate deposits have been placed at three commercial banks and total portfolio exceeds 1 billion USD. A major part of retail and corporate depositors show trust to TBC Bank and Bank of Georgia.     01.09.16 01.08.16 1 Bank of Georgia 4 680 119 4 782 …

Read More »