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Monthly Archives: August 2017

Omalo in Tusheti To Welcome New Hotel

 29th beneficiary has received state support as part of hotel industry development component of Enterprise in Georgia state program – a 24-suite high-standard hotel will open in the village of Omalo, Tusheti Region. “It should be noted that LLC Nabadi plans to build the 2-floor hotel at one of the …

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Georgia’s Economy Gathers Pace, Grows 4.4 pct in Jan-July

Georgia’s economy expanded 4.4 percent year on year in the first seven months of 2017, data showed on Wednesday, up from 2.7 percent in the same period of 2016 as exports and remittances from abroad rose. Georgia, through which pipelines carry Caspian oil and gas to Europe, is recovering from …

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Overdue Loans Amount Shrank by 9.6 million GEL in July

Amount of overdue loans shrank by 9.6mln GEL in July and the amount totaled 430.4mln GEL. The ratio of overdue loans in crediting portfolio of commercial banks made up 2.2%. Ratio of GEL-denominated loans in overdue loans made up 39.6%. According to National Bank of Georgia (NBG), in the reporting period, …

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Rustavi Group to Pay 53 500 USD Fine

A fine of 53 500 USD has been imposed on Rustavi Group because of violation of mutual understanding memorandum signed by LLC Rustavi Group and LLC Rusmetal on February 3, 2015. According to Government resolution, Ministry of Energy must ensure an implementation of all procedures for announcement of an open …

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