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Daily Archives: May 1, 2018

Payment Card Operations in 2017 Totaled 19 billion GEL

card

In 2017 payment card transactions made up 19 billion GEL, up 24% since year, the National Bank’s report for 2017 reads. A total of 179 million payment card operations were performed in 2017, up 32% over the previous year. The share of domestically performed operations was 93%, while the remaining …

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Assets of Microfinance Organizations Hit 1.5 billion GEL

Cartu Bank Profits Marked 5.6 million GEL as of May 1

The assets of microfinance organizations made up 1.5 billion GEL at the end of 2017, the National Bank’s report for 2017 announced. According to the report, as of December 31, 2017, a total of 75 microfinance organizations were registered in Georgia. Net loans by the microfinance sector hit 1.04 billion …

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Germany to Allocate 252.7 million EUR to Georgia

Germany

As part of consultations with Government of Germany in autumn 2017, we have agreed to cooperate in the priority directions that will ensure further development of Georgia, Minister of Finance Mamuka Bakhtadze after signature of agreement on financial cooperation. Minister of Finance Mamuka Bakhtade expressed gratitude to German Ambassador for …

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Georgian Smart Ring CNICK is Amazon’s Choice

Georgian ”smart ring” CNICK became an Amazon’s Choice product. According to company founder Koba Tsertsvadze, the reason is due to its reliability and rating. Knick launched sales through Amazon last year, and is now very popular among customers. ”Our product is available worldwide, although we focus on the American market, …

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BGEO in Expectation of Changes in Listing

Price of Bank of Georgia shares (BGEO LN) has declined at London Stock Exchange (LSE). Last week the price of a share constituted 34.54-36.76 GBP. The price declined by 3.9% week on week and by 1.8% month on month. According to G&T analytics, in the reporting week deals were made …

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European Investment Bank Plans to Invest €400 million

The European Investment Bank will invest €400 million in Georgia, and the largest amount will be spent on infrastructural projects. Vazil Hudak, the Vice President of the European Investment Bank stated this on the TV program Business Morning Today. “Around €400 million will be invested in Georgia, and € 250 …

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Georgia-EFTA Free Trade Agreement Comes into Effect

On May 1, 2018 the free trade agreement between Georgia and European Free Trade Association (EFTA) came into force with all member countries, Ministry of Economy and Sustainable Development of Georgia told the Commersant. The agreement was put into action with Norway and Iceland on September 1, 2017, while today …

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Asian Development Bank to Finance Construction of Khevi-Ubisa Section

Asian Development Bank to Finance Construction of Khevi-Ubisa Section

The Asian Development Bank (ADB) will finance construction of Rikoti Pass road, Khevi-Ubisa 12.2 km section. The First Deputy Minister of Regional Development and Infrastructure of Georgia Irakli Karseladze, along with representatives of Asian Development Bank discussed the issue of financing of the Khevi–Ubisa section, reviewed the progress of the …

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Filmkunstfest Focuses On Georgia

Georgia has a rich film tradition, and the Gruzia Film Studio, located in the capital of Tbilisi, had considerable influence during the Soviet era. In recent years, Georgian feature films are gaining international recognition in the film festival circuit again. Our selection focuses on contemporary feature films and short films. …

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Mikheil Dundua Appointed as Deputy Health Minister

Two new deputy Health Minsters have been named – professor Zaza Bokhua was appointed the first deputy Health Minster. Before, he was director for Tbilisi State Medical University institute for postgraduate medical education and professional development. Mikheil Dundua is another new deputy Health Minster. He will also lead Social Service …

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Energy Community Secretariat Presents Electricity Supply Rules in Georgia

Experts from the Energy Community Secretariat presented draft rules for electricity supply to the National Energy and Water Supply Regulatory Commission (GNERC) and distribution system operators in Georgia. The adoption of the rules, which were developed under the framework of the EU4Energy project, is a necessary part of the electricity …

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