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Monthly Archives: January 2017

A Norwegian Energy Company is Investing Eight Billion in Georgia

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

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

 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

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

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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Revenue Service Prepares Manual for New Regulations of Profits Tax

f Profits Tax

Ministry of Finance has developed a very good format that ensures dialogue over important issues for business. It is important that such communication is continued on such relevant issue as profits tax reformation. InterPressNews was told at Ministry of Finance that similar estimation was made at working meeting organized by …

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Forbes: Bidzina Ivanishvili Sold Three Artworks for 112 million USD

Georgian billionaire Bidzina Ivanishvili has sold three artworks from his own collection for 112 million USD, the Russian Forbes reports. According to the edition, Ivanishvili sold the last work at Christie’s auction in 2016  for 66 million USD. Initially, the work was estimated at 40 million USD. The mentioned work …

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Bloomberg Estimated Georgia As High-Risk Country in Terms Of Investment

Bloomberg has published a map of global risks. In particular, the agency  estimates threat that will be relevant for various countries in 2017. They are defined by 29 indicators, including financial, economic, and political risks facing investors. The map shows  4 main components – reserves, unemployment, inflation, and currency fluctuations …

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New Types of Orchards, Subtropical and Walnut Trees to Import from Spain

New Types of orchards, subtropical and walnut trees will be imported from Spain in Spring, 2017.Test samples will be planted in the East and West bases of Agricultural Science research center. Healthy orchard plants of apples, peaches, plums, pears will be imported. Concerning this issue, Science-Research center of signed the …

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Will “Heat-Not-Burn” E-Cigs Kill Off Vaping?

Will "Heat-Not-Burn" E-Cigs Kill Off Vaping

With a more cigarette-like experience, the next generation of electronic cigarettes could make vaping obsolete. The future of cigarettes may be “smoke free,” as Philip Morris International (NYSE:PM) says, but it is a new platform of electronic cigarettes using heat-not-burn technology that may also kill off vaping as we know …

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