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Monthly Archives: October 2016

Negotiations Underway With New Investor on Poti FIZ Sales

Negotiations Underway With New Investor on Poti FIZ Sales

Negotiations are underway with a new investor on sales of Poti free industrial zone (FIZ), Minister of Economy Dimitri Kumsishvili noted. The major industrial group will be named in about 60 days, he added. Arab Rakia (RAS Al Khaimah Investment Authority) remains in Georgia. Government of Georgia keeps very good, best …

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Pirveli.co – An Online Shop for Accessories as Birthday Present

www.Pirveli.co is an online shop for accessories for women. Start-up was initiated by married couple. It was implemented in spring 2016 and it offers customers factory manufacture products as well as handmade accessories. Concerning the history, concept and creation of Pirveli.co, the manager and co-founder, Giorgi Lomjaria gives us information …

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SOCAR’s Bonds See Strong Demand

SOCAR's Bonds See Strong Demand

Bonds of Azerbaijan’s energy giant SOCAR, issued for the domestic market of the country enjoy high level of market uptake.   The demand for bonds, the nominal value of which is $1,000, has exceeded the supply twofold. Applications worth some $203,604 million were accepted by relevant institutes, while the total …

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International Currency Reserves Decline by 30.2 million USD

currency, international reserves

In September 2016 Georgia’s official international reserves have declined by 30.2 million USD (-1.0%) compared to August 2016, but increased by 393.9 million USD (+16%) year on year and totaled 2.86 billion USD, the National Bank of Georgia (NBG) reports. Currency interventions have made influence on monthly declination of reserves, …

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Italian SACE to Take Active Steps on Georgian Finance Market

Italian SACE to Take Active Steps on Georgian Finance Market

Natia Turnava, deputy executive director of the Partnership Fund, has hosted representatives of SACE, the exports-crediting state agency of Italy offering financial and insurance services to private companies. At the meeting the parties discussed bilateral cooperation issues and outlined measures for promoting cooperation between Georgian and Italian private business sectors. …

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Turkish Stream’s Construction to Start in 2018

Turkish Stream’s Construction to Start in 2018

Construction of the Turkish Stream natural gas pipeline will begin in 2018 after the latest intergovernmental agreement has been signed this week, Sputnik International news agency quoted CEO of Russia’s Gazprom energy company, Alexei Miller as saying Oct.11. “According to our plan, construction itself will begin in 2018,” Miller told …

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Kakhetian Traditional Winemaking Company Signs 1 million Bottle Deal with China

China’s Beijing Charming Grand International Trading Company (CGIT) recently agreed to import one million bottles of Georgian wine and brandy in the next 12 months. Memorandum of Cooperation was signed with Georgian partner company Kakhetian Traditional Winemaking (KTW) last week, by KTW’s General Director Zurab Chkhaidze and head of  CGIT Van …

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Georgia should Have Glut of Startups

Itsik Moshe

Government of Georgia should provide efficient support to Georgian startups definitely, otherwise their development is unimaginable, Itsik Moshe, head of Georgia-Israel Chamber of Business, noted. In his interview with the Caucasus Business Week (CBW) Mr. Itsik talked about the Israeli experience and noted that in 1990s the government of Israel …

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Chinese Company Shows Interest in Georgian Power Sector

Chinese Company Shows Interest in Georgian Power Sector

CHINA NUCLEAR INDUSTRY 23 CONSTRUCTION is interested in Georgian power sector and constructing wind power stations and developing renewable power production. The company representatives introduced their plans to the Partnership Fund executive director. The Chinese party submitted specific investment proposal and expressed readiness for joint projects based on the Foundation …

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