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Monthly Archives: September 2016

Two New Tanks Added at Kulevi Oil Terminal

According to SOCAR, within the visit Abdullayev together with Georgian Ministers for Economy Dmitry Kumsishvili and for Energy Ilya Eloshvili participated in the commissioning of storage tanks #5 and #6 in the Black Sea Terminal (BST Ltd) in Kulevi port. The facilities are designed for petroleum and chemical products. Fifth …

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Hotel Euphoria Opened in Batumi

New five-star hotel ‘Euphoria Batumi” was opened in Batumi. The Prime Minister of Georgia attended the opening ceremony. Giorgi Kvirikashvili, alongside with the guests visited the newly-opened hotel. “The volume of investment is 90 million USD and huge resort complex was constructed. It is also noteworthy that around 1500 people were …

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What is Currency Intervention Volume and Why NBG Doubles it?

The National Bank of Georgia (NBG) has doubled currency intervention volume and sold 40 million USD at currency auctions. The averaged weighed exchange rate made up 2.3264 GEL against USD. Having sold 20 million USD and extracted 46 million GEL from the market (20×2.3177), the NBG has provoked the GEL …

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The Number of Gas Consumers in Georgia Reach Million

socar

Millionth consumer has installed gas at home in Georgia, this special occasion has been celebrated by Georgian PM Giorgi Kvirikashvili, energy minister Ilia Eloshvili, Chairman of Government of Ajara Zurab Pataradze and President of Socar Rovag Abdulaev. Family lives in Ajarian region, village Khutsubani, at this time Socar gas Georgia …

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Goldon Tulip Hotel Opened in Historic Building

Golden Tulip Hotel

Golden Tulip Hotel opened in historic building located in Borjomi, Georgia, international operator Golden Tulip who is a member of Louvre Hotels Group network will manage the hotel. Blue Palace Firuza (name before the hotel) is one of the most important historical buildings in Borjomi. Situated at the entrance of the “Mineral Water …

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Georgia is Advanced by 7 Places in the Global Competitiveness Index

Georgia is Advanced by 7 Places in the Global Competitiveness Index

Georgia improved position by 7 places in the Global Competitiveness Index and ranks as the 59th by 4, 32 points. According to Global Competitiveness Index, Georgia and Azerbaijan has improved the positions most of all in the Eurasian region. “It is expected, that both countries might fix economic growth of more …

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Internet Exchange Center to Launch Operation in Georgia

Internet provider companies plan to sign a memorandum on establishing the Internet exchange center. On September 28, at 12 o’clock at Courtyard Marriott hotel (the first hall),  a document will be signed, under which various Internet providers will join the process of formation and functioning of the mentioned center. The …

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First Time in Georgia: Bone Marrow Transplant in Now Available

First time in Georgia, Bone Marrow transplantation procedure will be available at Ingorokva clinic’s latest hospital. New high-tech outpatient clinic, combines bone marrow transplant center, blood bank, radiation therapy and diagnostic departments. Clinic also launched Pediatric department, children’s and baby oncology ambulance. A bone marrow transplant is a procedure that replaces …

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Inexhaustible Stream of Pledges and Hunting Pensioners’ Votes

The 2016 parliamentary elections will be held in several weeks. Before, active election campaigns are underway. The shorter period is, discussions over political pledges, their feasibility and implementation ways intensifies. The Caucasus Business Week (CBW) inquired how economic experts evaluate election pledges of leading political forces, how they appraise strategical …

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HeidelbergCement to Invest 100 million USD in Kaspi

HeidelbergCement will invest additional 100 million USD in the Kaspi enterprise. The investment project calls for full modernization of HeidelbergCement plant and construction of clinker production dry line. The project implementation started on September 27, the Prime Minister’s office reports. Georgian Prime Minister Giorgi Kvirikashvili took part in laying a …

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