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Monthly Archives: November 2016

How the Banker Evaluates Announced Amendments by the Government

How the Banker Evaluates Announced Amendments by the Government

Banking sector approves government’s step in terms of to insure currency risks. Archil Kontselidze, CEO of VTB Bank declares, that fulfillment of this initiative will be a success. The banker does not expect loans in GEL to be increased in price. In addition, Archil Kontselidze notes, that obligation do not …

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Experts and Cigarette Importers Expect Smuggled Goods to Saturate Market

Irakli Nadareishvili

Experts and cigarette importers expect that smuggled products will flood the market. This is the market rule and increased excise tax will bring clear results, expert Irakli Nadareishvili said. Growth in cigarette excise tax will only deteriorate consumer conditions. As reported, Prime Minister of Georgia has announced growth in tobacco …

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Excises Increase to Result in Higher Prices for Automobiles

Next year, the government will increase excise for automobile import. General Director of the company “Caucasus Auto Import”, Giorgi Supatashvili talks about the topic. Next Year the excise tax will increase and this is important for business. Will it have an influence on your business?  No matter if it is …

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Georgia To Ban Online Credit Services

Giorgi Kvirikashvili

According to the Prime Minister of Georgia, Giorgi Kvirikashvili, issuing online credits will be banned in the county. “Together with National Bank of Georgia, we are working on Consumer Rights law, and online credit services will be banned. I think it will have medium and long term effect”.

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Loans Till 100,000 Laris Will be Issued only in GEL

Lari GEL Loan

From January 2017, small loans equaling 100 000 laris will be issued only in GEL. Georgian PM Giorgi Kvirikashvili announced. In addition loan limit will increase till 200 000 GEL. According to him, a new commercial law will be introduced soon which will make inevitable to publish prices of goods and …

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Ajara Presented at Warsaw Tourism Exhibition

Ajara Tourism Department presented a region tourism potential on 24th Tourism Exhibition at “TT Warsaw”. The department was presented at the exhibition together with national tourism administration and tourism agencies. During 3 days, the visitors who approached Georgian stand had an opportunity to get an information about touristic products and …

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Oil Prices fall on Doubts Over OPEC Production Cut

Oil Prices fall on Doubts Over OPEC Production Cut

Oil prices fell around 2 percent on Tuesday on signs leading oil exporters were struggling to agree a deal to cut production to reduce global oversupply. The Organization of the Petroleum Exporting Countries will meet in Vienna on Wednesday aiming to implement an agreement outlined in September to cut output …

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How to Take Business Loan

Those, who plan to expand their business activities, reach higher levels or  want to draw financial resources for unique idea will find this interview very interesting.We have interviewed Konstantine Makatsaria, head of micro, small and medium business department of Terabank, about business sector crediting and other business products of the …

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Iran-Azerbaijan-Georgia Corridor to Launch in 1 Month

Iran-Azerbaijan-Georgia

Iran, Azerbaijan and Georgia are carrying out a plan to make operational a long-overdue corridor that will carry shipments from the Black Sea – between Eastern/Southeastern Europe and Western Asia – to the Persian Gulf in the southeastern Middle East. The announcement was made by Deputy Head of the Islamic …

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