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Monthly Archives: May 2017

Quartz Georgian Natural Cosmetics –Startup of Mother and Daughter

Quartz-Natural Cosmetics is a joint startup of natural cosmetics which belongs to mother and daughter Tamar Kvartskhava and Keto Baratashvili. Tamar who is a pharmacy technician is completely in charge of cream making process. As for marketing and selling the production, her daughter Keto decides how to deliver the product to …

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Holiday Inn Hotel Opens in Telavi

Holiday Inn Hotel to open in Telavi, Kakheti, about fifteen million GEL will be invested in the construction. Opening of the hotel is due in the summer of 2018. In the frames of the project 90 percent of employees will be locals, who will get intensive training masterclasses. 85-bed hotel …

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Pazzy Food Truck- Joint Startup of Two Georgian Families

Pazzy is a family startup of two couples- Keto Todria and Ako Gogiashvili, Ninutsa Mizandaria and Tornike Todria. They decided to launch this startup because of lack of quality food at the festivals or in the streets where young people usually gather. The target group for Pazzy is people who …

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Insurance Industry Ends First Quarter with 5.7 million GEL Profits

Georgia’s insurance industry ended the first quarter of 2015 with 5.7 million GEL profits, while profits of insurance companies in the same period of 2016 made up 4.37 million GEL. In the reporting period the Georgian insurance market was represented by 15 insurance companies, which drew 143.8 million GEL insurance …

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New Bill to Smooth Foreign Banks Licensing Procedures

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

According to the bill on National Bank of Georgia (NBG), the list of documents to be submitted to NBG for obtaining a banking license is broadened: More detailed information must be submitted about the bank owner; The bank must submit business model and risks management documents approved by a supervisory …

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