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Monthly Archives: December 2016

Debts of Commercial Banks Exceed 937 million GEL

20 GEL

Net debts of commercial banks exceeded 937 million GEL. According to statistics of National Bank of Georgia (NBG), correspondence account balance has risen to 573 million GEL. GEL-denominated balance has declined, while USD-denominated balance has increased. Obligatory reserves marked 2.6 billion GEL (2.5 billion GEL as of 01.11.16). Reserve money …

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« Hotel Apolon » – 17 year of experience and high-class service

Years ago in Bakuriani Hotel “Apollo” was a pioneer in the the Alpine-style hotels concept. Hotel built in the style of a ski resort: the three-storey building’s interior – wall paneling and furniture – is made of local wood. Three fireplaces create a romantic and cozy atmosphere. Here is especially …

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More than 60 Touristic Destinations to Have Quality in Ajara

Currently, 5 restaurants and 11 hotels received a quality degree by tourism department in Ajara. The quality degree of Ajara was given to 16 more touristic destinations and the overall number of such kind of places increased up to 62. At present, the quality degree was given to 16 touristic …

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National Bank of Georgia sold $40 million

National Bank of Georgia sold $40 million

National Bank of Georgia made the first foreign exchange intervention after October 12. NBG sold USD 40 000 000 during its Foreign Exchange Auction. The average weighted bid rate was 2.7823. NBG sold 180 million USD from August. The central bank of the country regards, that the rate of national …

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“Khiliani” Limonade to be Sold in Israel

“Khiliani” is going to export lemonade to Israel- declared the head of “Georgian Limonade”, Varaz Aspanidze. According to Aspanidze, the decision has already been made and the production will be exported to Israel by the end of the month. At first stage, 6 containers will carry the product but in …

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Visas: Council Confirms Agreement on Visa Liberalisation for Georgia

Brussels (20 December) – The Permanent Representatives Committee (Coreper) confirmed, on behalf of the Council, the agreement reached on 13 December with the European Parliament on visa liberalisation for Georgia. The agreement provides for visa-free travel for EU citizens when travelling to the territory of Georgia and for citizens of this …

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Clothtome.com-Renewed Second Hand Online Shop

Clothtome is a renewed second hand shop and its main aim is to give a new life to unique items and offer society an eco-friendly clothes. The founder of the shop, Tea Kobakhidze, chooses a second hand clothes with his team and creates the final version of it. Then she …

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Germany to Allocate €1.2m for Strengthening Georgia’s Power System

At the head office of Georgian State Electrosystem (GSE) Sulkhan Zumburidze, head of GSE board of managers, Hans Rick, director of South Caucasus Regional Office of Reconstruction Credit Institute of Germany (KfW), and Klaus Vogel, coordinator of South Caucasus Region’s sector, signed a financial agreement. Under which Government of Germany …

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GEPRA Becomes a Partner of Ketchum Maslov in Georgia

GEPRA

Georgian PR Agency joined the Europe largest network. Communication agency Ketchum Maslov announced about signing of partnership agreements with Gepra in Georgia and Deem Communications in Armenia. Official partnership will increase the effectiveness of Gepra in terms of project management and quality of the services in serving international clients and …

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Expert: Business’ Reaction on Excise tax Increase is Legal and Logical

Expert: Business’ Reaction on Excise tax Increase is Legal and Logical

Maia Grigolia, director of research centre PMCG, diverge the so-called currency crisis version formed by the speculative action groups. Shocked business’ reaction on excise tax increase, announced by the government, is legal and logical, as they want to store resources in anticipation of the price rising and it should not …

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