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Daily Archives: January 26, 2017

Partnership Fund Expands Partner Research Strategy

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Partnership Fund expands partner research strategy. Executive Director of the Fund announced creation of a new department, which will prepare priority projects for the different regions and offers business. The focus should be made on agriculture, construction sector, tourism, hotel construction and processing industry, however, energy and those sectors which …

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GT Hand-Made Bags Made in Georgia: Stylish and Convenient

GT BAGS

The founder of handmade natural leather bags GT, Giga Tavdgiridze has been producing his product since 2015. He graduated from Technical University but his current profession is very different from the academic one. Tavdgiridze started design work lately, but he already took part in Tbilisi and Adjara Fashion Week. Tell us how …

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Rustavi Azot Goes to EU Investment Ownership

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Rustavi Azot has been transmitted to EU Investments in ownership. The company abstains from making additional comments over the issue. EU Investments holds a 100% stake in Rustavi Azot, the company managers told Business Contract. EU Investment was registered in autumn 2016. Eprem Urumashvili is the company director, while Ioseb …

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A Norwegian Energy Company is Investing Eight Billion in Georgia

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Hunderfossen kraftstasjon i Gudbrandsdalslågen.
Foto: Paul Kleiven / Scanpix

The renewable energy company, Clean Energy, is making investments from Norway for the building of a hydroelectric power plant in Georgia, in the Caucasus region of Eurasia. The development may be the biggest ‘Norwegian’ plant abroad. The company, which is based in Lysaker, won the bid last week, according to …

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Chechen Republic Proposes to Launch Grozno-Tbilisi Flights

2748914 30.11.2015 Офис Turkish Airlines на улице Валовая в Москве. Евгений Биятов

Direct flights may be appointed between capital cities of Republic of Chechnya and Georgia. Referring to Grozno airport management the Izvestia.ru reports that a due agreement has been already achieved between Grozno and Tbilisi international airports and flights are to start in late March or early April. Two flights will …

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Murtaz Kikoria: National Bank Wants to Regulate Bank Holding Companies

Murtaz Kikoria: According to our Forecast, Economic Growth will Reach 5% in 2016

National Bank of Georgia (NBG) is developing a new bill. NBG President Koba Gvenetadze told Business Contract that the bill will be discussed jointly with Parliament and representatives of various industries. NBG vice president Murtaz Kikoria told Business Contract that NBG plans to regulate bank holding companies – GROUPS ABOVE …

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The First Five Star Hotel to Open in Gudauri in 2018

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 The vice -president of Carlson Rezidor Hotel Group, David Jankins is in Tbilisi and he had a meeting with the deputy minister of Economy and sustainable Development, Ketevan Bochorishvili with RED-CO representatives.  Official sides discussed the investment possibilities of mountain resorts and it included Gudauri development as well. Deputy Minister …

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Report: Parents Sustain 62% of Young People in Georgia

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In Georgia 19% of young people have full-time job place, while 7% have half-time jobs or they are self-employed, report Generation in Transient Period prepared by Friedrich Ebert foundation, reads. According to the report, 71% of students are optimistic for their employment perspectives and they believe they will find job …

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Koba Gvenetadze: “Finances Should Be Secured”

Koba Gvenetadze NBG

The legislation of National Bank does not regulate such organizations, such as financial company “Georgia”-the head of National Bank, Koba Gvenetadze declared. As Gvenetadze noted in the interview with journalists, the population should pay attention what is written in the contract, not to lose their savings. The legislation of National …

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Enagas: TAP Ready to Provide Capacity to Any Third Party

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Spain’s Enagas company, which is one of the shareholders of the Trans Adriatic Pipeline (TAP), has commented on Russian Gazprom’s intention to use the pipeline for its gas supply to Europe. “If a shipper of any gas requests transportation capacity in TAP on the secondary market or during open season …

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