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Daily Archives: December 21, 2016

World Bank Approves $800M Loan for TANAP Project

The World Bank’s Board of Executive Directors today approved a $400 million loan for Turkey and a $400 million loan for Azerbaijan for the Trans-Anatolian Natural Gas Pipeline (TANAP) Project, according to WB website. The project will transport natural gas from a gas field in Azerbaijan to and across Turkey, …

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Success of Family Business

In that period heavy economic and political crisis was reigning in the country and it was very risky to undertake any business, but close relatives founded Baia food products store for earning their living. Twenty years ago Gia Arsenidze, Zurab Arsenidze and Elguja Gelashvili started daily supply of their first …

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PM: BTK Railway to be Commissioned in 1Q2017

PM: BTK Railway to be Commissioned in 1Q2017

The Baku-Tbilisi-Kars (BTK) railway will be put into operation in the first quarter of 2017, said Turkish Prime Minister Binali Yildirim. Yildirim made the remarks during a meeting with his Georgian counterpart Giorgi Kvirikashvili, the TRT Haber news channel reported Dec. 20. The Turkish prime minister noted that the BTK …

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Georgia Sees Corporate Tax Reform Spurring FDI 7-8%, Considers IPOs

Georgia expects corporate tax reform to boost foreign direct investment by 7-8 per cent in 2017 and is considering selling two stakes in major state-owned firms, Finance Minister Dimitry Kumsishvili said in an interview with Reuters. He said the moves should lift Georgia’s expanding economy, but said the government did …

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International Brokerage Company AFX Group to Enter Georgian Market

AFX group

International brokerage company AFX Group plans to launch operation in Georgia. David Tsikaridze will be the company representative, who had previously led the Georgian office of global broker Admiral Markets. In summer 2016 Admiral Markets decided to withdraw from the country because of a new strategy. The company had entered …

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TBC Group to Start the Implementation of American Hospitals Project

TBC group project, which aims to build American standard hospitals close to airport territory, will move to the next stage of the project. According to head of supervisory committee of TBC group, as a result of the tender, they have already chosen American company, which will implement hospital management. “It …

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Georgia Reveals multi-step Plan for UNWTO’s Future

Georgia Reveals multi-step Plan for UNWTO’s Future

Georgia wants to become the new leader of the United Nations World Tourism Organization. The current UNWTO Secretary-General Taleb Rifai will resign in 2017 and so far two candidates came forward wanting to take over the top post he had held for 8 years. One candidate is from Georgia. He …

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Bank of Georgia is Leader in Rating of Billionaire Banks

Bank of Georgia is Leader in Rating of Billionaire Banks

Ratio of billionaire commercial banks has increased to 89% as of December 1, 2016. 01.12.16 1 Bank of Georgia 9,254,088 2 TBC Bank 8,466,359 3 Bank Republic 1,842,461 4 Liberty Bank 1,644,000 5 VTB Bank 1,428,852 5 ProCredit Bank 1,322,100 5 Cartu Bank 1,249,257

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