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Daily Archives: August 30, 2017

Georgian Economy Recorded 3.8% Upturn in July

According to preliminary estimations by Geostat, national statistics service of Georgia, in July 2017, as compared to July 2016, Georgian economy grew by 3.8%, while the growth made up 2.9% in July 2016. In January-July 2017 economic growth constituted 4.4%. Government of Georgia forecasts 4% economic upturn in 2017.

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1.3 million GEL Asphalt Plant Launched in Ozurgeti

An asphalt plant of 1.3mln GEL has started operation in Ozurgeti. New Factory enterprise launched operation several weeks ago. The company director Ilia Kekelidze told Business Course that the factory is able to produce 80 tons of cement an hour. The company supplies products to infrastructural projects in Ozurgeti, Lanchkhuti, …

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American Sommeliers Visit Georgia for Wine Tasting

American sommeliers and importers team visited Georgia for five days. They will visit 18 wine-producer companies within the visit and try Georgian wines, learn about Georgian wine history and culture, as well as local cuisine. The Head of The National Wine Agency contractor- American company “TastingWorks”, the famous wine master, …

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Four Years Co-operation of Nike and Olympic Champion Lasha Talakhadze

With the support of Nike’s official partner, company Athlete Performance Solutions,Nike will clothe Lasha Talakhadze, Champion of the World and Europe in heavy atletics, for following 4 years. The contract with Lasha  includes the financial Bonus Point, which will be launched in case of winning the European, World and Olympic …

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BGEO’s Bank of Georgia Signs One-year $75m Facility

BGEO Group subsidiary JSC Bank of Georgia has signed a one-year $75m club trade finance facility arranged by Citi in collaboration with the bank’s long-term partner international financial institutions Asian Development Bank and International Finance Corporation. The FTSE 250 firm said the facility is the fourth successful syndication arranged by Citi for JSC Bank of Georgia, and …

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Cherie Started to Produce Machine Coffee

Cherie started to produce machine coffee. Irakli Lomtatidze, the Director and Founder of company, explains that machine coffee is in 200-grams packing. As for the price, production belongs to all price category, which ranges from 3.80 to 9 GEL. ”New coffee is available in big supermarkets. It’s early to discuss …

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Georgia: Gateway To Hiking the Caucasus Mountains

“Socks are key. Dry socks in fact. They’re the most important thing you need to pack,” my guide Giorgi says nonchalantly. “You should never go hiking without an extra pair,” Gantdaily reports. I nod approvingly but can’t offer much else. We’re barreling down a narrow, unpaved mountain road toward the …

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Assets of Commercial Banks Totaled 30.5bln GEL as of August First

Assets of commercial banks amounted to 30.5bln GEL as of August 1. According to the National Bank’s statistics, total assets (in current prices) rose by 0.3bln GEL in July (+0.8 month on month). Own funds of commercial banks amounted to 4.1bln GEL (13.4% of assets). Basisbank advanced to the 6th …

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