Home / 2017 / April / 24

Daily Archives: April 24, 2017

Ukraine to Send Agricultural Products to Iran via Georgia and Azerbaijan

Ukraine is to begin transporting agricultural products to Iran by railway, passing through Georgia and Azerbaijan, according to Ukraine’s Minister of Infrastructure, Volodymyr Omelyan. Omelyan, met with a delegation from Iran in Kiev on 19 April, where they reached the agreement. ‘This is a very promising area of cooperation for …

Read More »

Mtskheta Governor: Coca-Cola Intends to Relocate Production to Mtskheta

Coca-Cola plans to relocate production to Mtskheta, Governor Gocha Zeikidze told Business Course. Corresponding works will start in 2017, he added. “In 2017 we will open European-standard plant LiderFood company worth about 10 million GEL. The company will manufacture 120 varieties of top-quality meat products. According to preliminary information, the …

Read More »

8 Million Credit Cards Are Currently in Use in Georgia

In a population of 3.72 million people in Georgia, about 8 million credit and debit cards are being used, according to Majeed Hujair a Senior Director at School of Public Policy. About 36% of people globally use credit card payments while there are 2.5 billion adults who do not use formal …

Read More »

Aric Group Constructs Vinichio Valley Green Tourist Center in Sagarejo

Partnership Fund and Aric Group signed a common memorandum. Aric Group is an investment company created with foreign capital which implements projects in the field of agriculture, food industry and tourism. According to memorandum, the companies want to develop a common business, Vinichio Valley. They want to produce wine and …

Read More »

EBRD to Issue New GEL-denominated Securities

European Bank for Reconstruction and Development (EBRD) plans to issue GEL-denominated securities of several tens of millions of GEL with the aim to credit exports products manufacturing and to develop domestic capital market through Georgia-based commercial banks as part of deep and comprehensive trade agreement with EU. This issue and …

Read More »

Crisis Deepens in Book Business

Bookstores are closed because of financial problems. Representatives of  several bookstores say that the crisis deepens in the sector over the past 2 years. There is heavy situation in the sector, in general, they said. Mariam Kikacheishvili, head of Books in Vake store, talks about difficult financial situation in the …

Read More »

Iran Can Facilitate Georgia’s Access to Persian Gulf, Sea of Oman

Iranian President Hassan Rouhani says the Islamic Republic can function as the passageway of Georgia and other regional countries to the Persian Gulf, the Sea of Oman and the Indian Ocean while Georgia can connect Iran to the Black Sea. “Transit [cooperation] in the region currently has special significance and given a …

Read More »

Bank Republic Becomes Larger After Acquisition

TBC Bank and Bank Republic amalgamation process has come to a finish-line. Bank Republic cards are replaced by TBC Bank cards. IN his interview for Business Course, Nikoloz Kurdiani, TBC Bank deputy director general talks about the details. -Mr. Nikoloz, when will this process end and what technical issues should …

Read More »

Larization Policy Makes Interest Rates more Expensive

Lari

According to the February indicators of National Bank of Georgia (NBG), interest rate on GEL-denominated loans rose by 2.8% to 20.9%, including 11.9% GEL-denominated loans are available for legal entities, while physical bodies have to pay 24% interest rate for GEL-denominated loans. It should be noted the rise of GEL-denominated …

Read More »

Monetary Fund Narrows Economic Growth Forecast from 5.2% to 3.5% for 2017

International Monetary Fund (IMF) has decreased Georgia’s economic growth forecast for 2017 from 5.2% to 3.5%. IMF updated economic growth indicators for its member countries in the previous week. According to the updated forecasts, Georgia’s economic growth may record 3.5% in 2017. Under the IMF prognosis, real inflation will exceed …

Read More »