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Daily Archives: March 23, 2017

School Students Invent Emergency Alarm System For Landslide Hazard Areas

Young inventors from town Senaki, Georgia

Smart Kids, from Senaki school made a project titled Geological Threats. This innovative project features an exceptionally precise, reliable, and stable emergency alarm system to be used in landslide hazard areas. Kids won the 2016-2017 Millennium Innovation Competition and will travel to USA to participate in NASA learning course on May 1-5, …

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TBC Bank Converted 40 Million USD Loan into GEL

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According to deputy of TBC general minister, 40 million loans have been converted to national currency in both TBC and Bank Republic, which amounts to 53% of loans on the market. In the frame of dedollarization program, 3073 customers dedollarized their loans.  Customers who weren’t enrolled in the state subsidized …

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Renovation of Maltakva Resort and Recreation Zone in Full Swing

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The first construction phase along the Maltakva coastline in Poti is about to be finalize. Coastline already has a renovated beach three kilometers in length. After the completion of the project, Maltakva will feature a fully functioning 7-kilometer beach. The renovation of the Maltakva resort and recreation zone will make …

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Zugdidi to Enjoy Unlimited Water Supply Starting Next Year

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Starting next year, Zugdidi will receive 24/7 water supply-Georgian Prime Minister Giorgi Kvirikashvili, accompanied by Minister Zurab Alavidze of Regional Development and Infrastructure, visited the ongoing construction site of the centralized water supply system. The project involves constructing a water distribution network, a pumping station, reservoirs, and a main water …

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FMO Sells Shares in TBC Holding

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Netherlands Development Finance Company (FMO) has sold its own shares in TBC Holding. Institutional investors of UK, USA and Europe have bought the shares under accelerated deal managed by  Barclays და Renaissance Capital. “FMO was one of the four international finance institutions that owned shares in TBC Holding. It owned …

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Innovation Agency to Launch New Project – Startup Beats

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Innovation and Technology Agency plans to launch a new project – Startup Beats. Objective of the new project is to set up communication between Georgia-based startups so as they share experience to each other. The first meeting will be held at TechnoPark at 19 o’clcok on March 23. The project …

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Government Town Underway in Ortachala

George Kvirikashvili – We’ve Experienced an Important Breakthrough in the Number of Visitors

A government town will be constructed in Ortachala, Tbilisi. Almost all Ministries will be located in the town, Georgian Prime Minister Giorgi Kvirikashvili told government meeting on March 23. A huge space has been selected for the project implementation, he added. As part of governance reformation program, we have already …

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Gemuani to Export Processed Fruits to Arab and European Countries

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Gemuani, a fruit-processing enterprise, plans to export finished products to foreign markets.Namely, the company plans to export products to Near East, United Arab Emirates (UAE) and several European countries. “The company receives orders in advance for almost all 100% of products that will be manufactured for a period of one …

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Banking Sector’s Revenues Grew in January-February Period

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Banking sector’s revenues in January-February made up 558 million GEL, up 12% year on year. According to statistics of National Bank of Georgia (NBG), in the reporting period the banking sector’s expenditures totaled 105 million GEL (104 million GEL as of March 1, 2016), including staff expanses marked 92 million …

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