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Daily Archives: June 11, 2018

Warranty Fund is Last Attempt to Prevent Crisis Tendencies

“I would like to back the initiative by Ministry of Economy for establishing a warranty fund. This idea requires a support from International Monetary Fund (IMF). Therefore, we are conducting active negotiations with them”, Roman Kakulia, head of the parliament’s economic policy committee, noted. “This is the last attempt of …

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Georgia and Hong-Kong to Sign Free Trade Agreement

Georgia and Hong Kong will sign free trade agreement in late June, as part of Belt and Road Summit, Georgian Prime Minister Giorgi Kvirikashvili said. “This is an important event for exports of our products and naturally, this will further ensure openness for trade, investments. We are sure this will …

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Anaklia and Constanza Seaports Sign Memorandum on Cooperation

Anaklia and Constanza seaports have signed a memorandum on cooperation in Brussels, Belgium. According to Anaklia Development Consortium, the memorandum calls for strategic partnership and cooperation in arious issues, including information exchange, common action plan for transportation and identification of routes, cooperation in logistics and infrastructural projects. Under the memorandum, …

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New Enterprise LTD Tiflis Textile Opened within Produce Georgia

First Deputy Prime Minister, Minister of Economy and Sustainable Development Dimitri Kumsishvili officially opened the Tiflis Textile Ltd, supported by the Agency “Produce Georgia” on June 11th. Factory will produce socks. “Tiflis Textile”  is using the component of availability of finances in the state program “Produce Georgia”, which means that …

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Fuel Prices Keep Rising

Current developments on the Georgian oil market suggest that fuel may soon become a luxury product. Last week, fuel prices rose at all branded stations. Specifically, prices increased by 2-9 Tetri. As of June 6, at the SOCAR network the price of one liter of super petrol was 2.58 GEL, …

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EFTA and Georgia Held Trade Promotion Seminar

The EFTA Secretariat, in cooperation with the Georgian-Swiss Business Association (GSBA), the Embassy of Switzerland in Georgia and the Ministry of Economy and Sustainable Development of Georgia, held an “EFTA-Georgia: Trade Promotion Seminar”, on 7 June 2018, at Rooms Hotel Tbilisi. The EFTA – Georgia Free Trade Agreement (FTA) entered …

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Georgian Myway Airlines Launches Regular Flights from June 12

New Georgian Airline company launches regular flights from June 12. Company will perform its first flight from Tbilisi to Kharkovi. Myway Airlines will fly this destination twice a week, on Tuesdays and Saturdays. The same destination will be available from Batumi International Airport as well, starting from June 14, twice …

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Starbucks Regional Operator to Enter Georgia

Company Shaya Turkey that manages ”Starbucks” operation in Turkey and Azerbaijan is looking for the manager of Georgian representative. Relevant vacancy was published on jobs.ge. Interested people can apply until July 11th. It’s unknown when will Starbucks start operating in Georgia.

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Tbilisi City Hall Introduces Tourism Development Department

Tbilisi City Hall has shaped Tourism Development Department, which will be chaired by Eka Burdiladze. For many years Eka Burdiladze was head of department for relations with domestic and international organizations, under the municpal economic development service. Previously, tourism direction was part of business stimulation department, she told BM.GE “Tourism …

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Express Batumi to Resume Batumi-Sochi Maritime Traffic

From June 12, the Georgian carrier Express Batumi will resume maritime traffic between Batumi and Sochi. On this route, “Comet” will initially carry out one voyage per week and will be able to take 114 passengers simultaneously. The duration of the journey is 5-6 hours. Voyage will take place every …

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A Crypto Mining Company Lists Shares on the London Stock Market

A new company that lets people mine cryptocurrencies through a subscription service has announced plans to list on the London Stock Exchange, a first for the exchange. Argo Blockchain said in a statement on Monday it hopes to raise £20 million in the listing and expects to be valued at …

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