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Daily Archives: April 24, 2018

Georgian Business Ombudsman and GCCI Sign Cooperation Memorandum

Irakli Lekvinadze

Georgian Business Ombudsman Irakli Lekvinadze and Nino Chikovani, president of Georgian Chamber of Commerce and Industry (GCCI) have signed a memorandum on cooperation. The memorandum represents a mechanism for efficient cooperation between the office of Georgian Business Ombudsman and GCCI member companies in various directions, including the memorandum calls for …

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Unfair Rules of Play in Georgian Banking Sector

The Ministry of Finance of Georgia has announced a new government initiative to create an alternative to expensive banking products. According to Minister of Finance Mamuka Bakhtadze, this initiative is necessary to help the economy progress. “The Georgian banking system should drive economic development, not frustrate it, but, regretfully, in …

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Head of Innovation and Technology Agency Giorgi Zviadadze Resigns

Giorgi Zviadadze has resigned from the position of a head of Innovation and Technology Agency. “Having worked 10 months, I had to leave the wonderful team of LEPL Innovation and Technology Agency of Ministry of Economy and Sustainable Development. I would like to express my deep gratitude to Prime Minster …

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Container Terminals’ Future in Georgia

Regular container liner service has been launched between Caspian Sea ports in April 2018. Container shipments are performed by the general cargo ship Mahmud Rehimov, which belongs to the Azerbaijan Caspian Shipping Company. The Azerbaijani ship made its first voyage on April 6, 2018, from the port of Aktau in …

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Winery Khareba Store Opened in Italy

On April 19, the first Georgian brand wine “Winery Khareba” shop was opened in Europe, Bari, Italy. Diplomats, Bari municipality representatives and Georgian delegation attended the official opening ceremony. During the event, company representatives officially introduced Italian wine shop concept and future strategic plans to the audience. During the gala …

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Georgian wines at ProWine Asia 2018 in Singapore

 International exhibition of wine and spirits ProWine Asia 2018 will be held from April 24 to 27 in Singapore. This year the following Georgian companies will present their products: Askaneli Brothers Dugladze Wine Company Kindzmarauli LTD Qimerioni Zearis Being an international branch of Düsseldorf’s ProWein, the fair should help position …

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Georgian Railway Switches to Modern Lighting System

Georgian Railway switches to modern lighting system. The agreement between the railway and company ”Grato” was officially signed. According to document, company accepts obligation to install energy efficient lights on stations, bases, tunnels and bridges, produced by American company ”Cree”. Within the framework of the new project, Georgian Railway will …

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Mado – from Unique Ice Cream to the Variety of Menu

 If you want to taste the real ice cream, real Turkish Baklava and real coffee, you should visit the famous brand of “Mado” at Pushkin Street, Freedom Square. The interior is made in pastel colors, which makes the relationship with family and close friends more pleasant. Their slogan is “healthy …

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There are Preconditions that Agara Sugar Resume Operation

Irakli Lekvinadze

This week Government of Georgia and Agara Sugar are expected to reach a final agreement on how the company will resume operation, Georgian Business Ombudsman Irakli Lekvinadze said. At the end of the last week the factory workers held a protest rally in Tbilisi. They demand that the Government bear …

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Fitch Affirms 4 Georgian Banks, Revises Outlook on TBC and BOG to Positive

Fitch Ratings has revised the Outlooks on Bank of Georgia’s (BoG) and TBC Bank’s (TBC) Long-Term Issuer Default Ratings (IDRs) to Positive from Stable and affirmed the IDRs at ‘BB-‘. Fitch has affirmed Liberty Bank’s (LB) Long-Term IDR at ‘B+’ with a Stable Outlook and ProCredit Bank’s Georgia (PCBG) Long-Term …

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