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Monthly Archives: January 2017

Gazprom Considers Joining TAP to Export its Gas to Europe

Gazprom Considers Joining TAP to Export its Gas to Europe

Russia’s Gazprom company is discussing the possibility of using Poseidon and Trans Adriatic Pipeline (TAP) to export gas to Europe, the company’s deputy CEO Alexander Medvedev said. He made the remarks during the European Gas Conference in Vienna Jan.24, Reuters reported. TAP is a part of the Southern Gas Corridor …

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Five Star Hotel Pullman to Locate in Axis Tower

Five Start Hotel Pullman will be located in Axis Tower. According to the general director of Axis, while choosing the brand, hotel will focus on this brand because it targets business people. Giorgi Kapanadze claims that Axis tower will be multi functional complex and construction will be completed this year. …

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Online Lenders Grossly Violate the Rights of Consumers

nikoloz-gagua

An interview with Deputy Minister of Finance Nikoloz Gagua  What regulations were imposed on online lending? What is the maximum interest rate, maximum amount of fines for non-payment of debt? On what basis was the interest calculated? The regulations limit the effective interest rate at no more than 150% per …

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Bloomberg: Georgian Growth Above Target Will Aid Ailing Lari, Minister Says

Georgian Finance Minister Dimitri Kumsishvili said economic growth may exceed 5 percent this year thanks to tax cuts and planned infrastructure spending, helping to ease pressure on the nation’s currency. There are “realistic” prospects of beating the government’s 2017 target of 4 percent growth and meeting the World Bank’s forecast …

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Libraries to be Arranged in Georgian Railway Trains

Georgian Railway is going to arrange libraries in the trains. It will become even more comfortable and enjoyable to travel by train because passengers will have a possibility to read books.  Collecting books for the trains started on the scale of whole Georgia: Volunteers, authors and publishing houses brought books …

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Tobacco Smuggling to Raise in 2017

Anti-Tobacco Conference: China, India, Others May be Barred

Former lecturer of Agrarian University, Economist, Lasha Gotsiridze thinks that tobacco smuggling will raise in 2017. This will be dangerous for both, business and state budget. Gotsiridze explains the reason behind it is significant difference of tobacco prices between Georgia and neighboring countries. He names Armenia as an example and …

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Bank of Georgia Former General Director’s Pay Reaches GEL 3 million

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

Murtaz Kikoria, in his previous capacity of General Director at Bank of Georgia The incomes and expenses of Kikoria is published by tv channel IMEDI based on Public Service Bureau’s information. The banker has most of his finances allocated in Bank of Georgia and TBC bank.  Among other expenses, there …

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Partnership Fund Expands Partner Research Strategy

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

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

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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