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Monthly Archives: February 2017

Whether GEL Overcomes Crisis

A major part of experts and analysts expected that the GEL exchange rate would depreciate further in January-February 2017, but the situation went in opposite direction  and the Georgian national currency recorded strengthening tendency. As a result, 1 USD equaled to 2.6429 GEL as of February 17,  after seeing the …

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Health Minister Criticizes Insurance Companies

Health Minister David Sergeenko has criticized insurance companies. However, insurance industry representatives  do not agree with the Minister’s remarks. It is the Government’s habit  to point fingers to insurance companies, the industry representatives said. As reported, Health Ministry plans to launch the second phase of reforms to increase efficacy of …

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Documentary Film on Georgian Wine Wins 5 Hollywood Awards

Prime Meridian of Wine documentary shot by Georgian Sommeliers Association has won 5 awards in HOLLYWOOD INTERNATIONAL INDEPENDENT DOCUMENTARY AWARDS. Best Producer – Shalva Khetsuriani.  Best Screenwriter – Tamar Bartaia;  Best Directror – Nana Jorjadze;  Best Chief Cameraman – Mikheil Kvirikadze Best Role Player – Revaz Khetsuriani The documentary has …

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Irakli Alasania Appointed as Senior Partner for SPConsulting American Company

Ex Defense Minister of Georgia Irakli Alasania has been appointed as a senior partner for SPConsulting American company. BusinessContract has received this information exclusively from Irakli Alasania, who has moved to the private sector. The mentioned company provides consultations to governments of the USA and other countries. Head-office of  SPConsulting …

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Visa to Launch First Everywhere Initiative in Europe

Visa announced that the Everywhere Initiative, an innovation program designed to encourage the development of the “next big thing” in payments, will expand into Europe. Entrants in Visa’s first-ever European Everywhere Initiative will have the opportunity to compete for a chance to win up to €50,000 to support a development …

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Shilda Wine to Sell in the Biggest Russian Supermarkets

In February, at Prod-Expo 2017, which is the biggest exhibition of drinks and products of Russian and Eastern European countries, wine producing company, Shilda caught an attention for its original design from public. A lot of wine-lover and distributor took an interest in Georgian company production. Shilda conducted important negotiations …

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Georgian Designers Are a Favorite Among the Victoria’s Secret Angels

Victoria’s Secret Angel Romee Strijd, fresh off the runways of Moschino and Philosophy di Lorenzo Serafini, stepped out this past weekend in a head-turning red leather jumpsuit. The bold piece, reminiscent of Uma Thurman’s sword-wielding character in Kill Bill, was from Georgian designer Tamuna Ingorokva’s Fall 2016 collection. The model …

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GHG to Invest 50 Million in the Hospital Sector this Year

GHG to Invest 50 Million in the Hospital Sector this Year

Georgian Healthcare Group will implement investment of several million in the hospital sector, – Nika Gamkrelidze, head of the Group has declared to BusinessContract. According to him, two new hospitals will be opened this year and the Group will spend 50 million USD. “We are one of the largest investors …

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Banking Sector’s Record Profits

According to National Bank of Georgia (NBG), in January profits of the banking sector made up 58.8 million GEL, up about three times compared to January 2016. The banking sector’s profits in January 2016 marked 20.1 million GEL, in January 2015 – 15.8 million GEL. The Georgian banking sector registers …

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Number of Vacancies Grew by 30% in 2017

Quantity of vacant positions rose by 30% in 2017, Inga Shakhbazian, regional manager for HR.GE employment portal told Business Contract. Growth tendency was recorded in January-February 2017, as compared to January-February 2016. The following fields are leaders in number of vacant positions: Commerce – 23% Clients service – 11% Banking …

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