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Daily Archives: November 15, 2018

WTM 2018: Travel Industry Urged to Adopt Alternatives to Smoking

An international tobacco company is using the platform of World Travel Market to call on the travel industry to help “accelerate the achievement of a smoke-free world”. Philip Morris International claims to have a vision where smokers who would otherwise continue to smoke replace cigarettes with better alternatives. The company …

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Global Finance Magazine Names TBC as Best Foreign Exchange Provider of Georgia

TBC Bank has been named the Best Foreign Exchange Provider 2019 in Georgia by Global Finance Magazine. The winners were chosen based on extensive criteria including transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies. “We are honored to receive this prestigious award from …

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Green Climate Fund supports EBRD’s Green Cities Facility

The EBRD has received a €87 million contribution approved by the Green Climate Fund’s (GCF) Board. The funding will support the EBRD’s Green Cities Facility for climate-focused sustainable urban development in Albania, Armenia, Georgia, Jordan, FYR Macedonia, Moldova, Mongolia, Serbia and Tunisia. EBRD and GCF financing will help cities and municipal utility companies to tackle their most pressing climate challenges such …

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Georgia Healthcare Group Receives Revenue of GEL 622.4

Georgia Healthcare Group PLC on Monday reported a rise in revenue and earnings for the first nine months of 2018 amid double-digit growth in all of its service businesses. The Georgian healthcare provider said earnings before interest, tax, deprecation and amortisation for the first nine months of 2018 rose 23% …

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Local Apple to Replace Imported Product in Georgia

Alioni company consultant Archil Lobzhanidze says that the imported apples in Georgia will be replaced with local produce. As for him, the trend is clearly visible and is already affected the price. If the wholesale price of imported apples was GEL 1.5 last year, this year it  has decreased and …

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Norway to Open Embassy in Georgia

Norway has decided to open an embassy in Georgia’s capital, Tbilisi. ‘Georgia is one of our priority partner countries in the Eurasia region. For many years, it has been following a course of reform, which has brought it closer to European and Euro-Atlantic cooperation structures. It is on the basis …

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The Ski Resort Gudauri is Adding Six New Lifts

The ski resort Gudauri is rebuilding one of its lifts and is installing three new lifts by renowned companies Doppelmayr and Poma. These lifts will increase the skiers uplift capacity by 3.5 times and help in reducing queues. As a result of this, the ski area will be expanded with …

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Finance Sector Regulations Postponed for 2019

NBG Reduces Its Policy Rate By 25 Basis Points To 6.75%

According to BM.Ge information, the finance sector regulations will take effect on January 1, 2019. The regulations were to come into force on November 1, 2018. After consultations with the finance sector, the National Bank of Georgia (NBG) postponed the enforcement date for November 15, however, according to the last …

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