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Daily Archives: March 29, 2017

Opening Ceremony of the Baku-Tbilisi-Kars Railway (BTK) Will be Held in June

Opening Ceremony of the Baku-Tbilisi-Kars Railway (BTK) Will be Held in June

The opening ceremony of the Baku-Tbilisi-Kars railway (BTK) will be held in late June, Turkish media cited the country’s Minister of Transport, Maritime and Communication Ahmet Arslan as saying. Arslan added that Turkish President Recep Tayyip Erdogan will attend the ceremony. The minister stressed that diesel locomotives will transport cargo …

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Leader of Georgian Aviation Market is Turkish Airlines

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Turkish Airlines is still the leader by travelers’ flow through January-February, but the annual figure is declined to 11.3% (01.03.16 – 24%). The richest company is Fly Dubai, travelers’ flow is grown by 78% y-o-y. However, traffic of two Turkish companies, along Turkish Airlines, is declined in the rating: Pegasus …

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Temur Chkonia: We Are Bringing such Brand, Which Will be the Atomic Bomb

Temur Chkonia: We Are Bringing such Brand, Which Will be the Atomic Bomb

Temur Chkonia announces on bringing of two well-known brands on Georgia beer market. Famous businessman, minority shareholder of beer producing company “Castel”, declares that negotiations are held with Dutch and German companies. However, the first one is at the stage of completion. “There should be a little intrigue, and very …

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Official Statement by JSC Terabank

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On March 27 the round table meeting organized by International Chamber of Commerce (ICC) discussed several important court trials, including JSC Terabank dispute against the former owner of property taken over by the bank. Objective of the discussions was to outline how court decisions on separate cases affect the investment …

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Air Arabia Jordan to Enter Georgian Market

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Low Cost Jordanian Airlines, Air Arabia Jordan will start operating flights to the direction of Amani-Tbilisi-Amani. The negotiations about starting direct regular flights between Jordan and Georgia have been successful. Final meeting between Civil Aviation Agency and ‘Air Arabia Jordan’ took place on 14th of March and different technical and …

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GEL-Denominated Loans Grow in Value

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Ratio of consumer loans in retail loans portfolio (9.363 billion GEL) does not exceed 20%. The dollarization coefficient is 20%. Only 25% of long-term loans (2.3 billion GEL) has been issued in foreign currency. The figure makes up 6.4% in short-term loans (469 million GEL). Interest rates have increased on …

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EBRD Advice to Business: One Year in Progress

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EBRD sums up the first-year results of an initiative to assist small and medium enterprises fully enjoy benefits of the DCFTA. 100 small and medium sized companies, increased their turnover, generated additional jobs and boosted their investment opportunities, through EBRD advisory services in organizational management, food safety, financial management and …

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Electricity Consumption Grows by 13% in February

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Domestic consumption of electricity has increased by 13% in February 2017, the monthly report on electricity market by Galt&Taggart reads. According to the report, electricity consumption increased mainly because of Abkhazia region and direct consumers. Consumption of distributing licensees rose by 9.1% in February: TELASI electricity consumption rose by 8.3%, …

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International Conference to Take Place at GITA

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 International Conference “Technologies Commercialization and Innovations: Challenges and Opportunities in Georgia” will take place at GITA on March 29-31. The organizers are: Technologies Commercialization office of Ilia State University and Innovations agency of Ministry of Economy and Sustainable Development. 3-day-long conference includes innovations and technologies and analyzing current challenges in …

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ADB Investment in Batumi Bypass to Improve Logistics, Transport

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The Asian Development Bank (ADB) has approved a $114 million loan to help improve regional connectivity and road transport efficiency in Georgia, while strengthening the country’s bid to become a regional transport and logistics hub. ADB is also expected to manage and administer up to $114 million in additional financing …

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