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AZAL Establishes its Low-Cost Brand

AZAL Establishes its Low-Cost Brand

Azerbaijan Airlines has announced plans on establishing a new brand – AZALJET, representing low-cost destinations of the airline. Flights under AZALJET brand will be operated based on the existing infrastructure of Azerbaijan’s civil aviation from March 28, 2016. Baggage and meals on board will be offered for additional payment on the …

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Demand for Georgian Trout Grows in Europe and Arab Countries

Demand for Georgian Trout Grows in Europe and Arab Countries

The trout farm that is located on 4 500 square meter space in the village of Saghrasheni, on the river Algeti embankment, plans to increase its annual output to 100 tons. Individual entrepreneur Giorgi Gharibashvili told the Business Press News agency that the demand for Georgian trout grows in Europe …

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WSJ: Bidzina Ivanishvili Claims Credit Suisse Mismanaged His Money

Bizina Ivanishvili

US based, Wall Street Journal publishes an article saying Georgian businessman and former Prime Minister claims Swiss private banker caused significant losses to his portfolio. According to them Ivanishvili is pursuing a legal claim in Geneva that his Credit Suisse relationship manager, or private banker, mishandled his portfolio and caused significant losses. …

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Ajara Produced Tea Exports to Mongolia

Tea-Picking

Ajara based company Emir exports high quality Georgian tea to Mongolian market. Founder of the company Levan Okropiridze, started developing tea production last year with the help of  Mongolian partners, who thoroughly studied Georgian market. According to Agricultural projects management agency, the company has built modern factory and expanded production by the …

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Silk Road Economic Belt to Create Great Opportunities for Azerbaijan

Silk Road Economic Belt to Create Great Opportunities for Azerbaijan

“The Silk Road Economic Belt” will create great opportunities for Azerbaijan’s development, in particular, in the spheres of agriculture, tourism, food industry and machine building, said Sahil Babayev, Azerbaijani deputy economy minister. He made remarks at the CIS Global Business Forum in Dubai, according to a message on the forum’s …

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Construction of $38 million HPP is Underway in Georgia

Snostskali

Royal Building Georgia plans to construct SnosTskali hydro power plant (HPP) in the Mtskheta-Mtianeti Region. Royal Building Georgia has obtained the due rights after the company won the interest expression for conducting feasibility studies, construction, ownership and operation of SnosTskali HPP. The interest expression for SnosTskali HPP construction was announced …

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Standard & Poor’s Affirms Azerbaijani Banks’ Ratings

Standard & Poor's Affirms Azerbaijani Banks’ Ratings

Standard & Poor’s Ratings Services said that it had revised its outlook on Azerbaijan-based Kapital Bank OJSC at ВВ-/В, PASHA Bank – ВВ-/В and Muganbank – В-/С. The rating actions follow the lowering of the agency’s ratings on Azerbaijan to ‘BB+/B’ from ‘BBB-/A-3’. “Nevertheless, in our view, the bank’s solid …

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AYFB Publishes Gambling Games Regulatory Concept

gambling

The Association of Young Financiers and Businessmen (AYFB) has put forward the gambling games development concept. The AYFB analyst Zurab Kukuladze provides a detailed description on how the online casino business should be regulated jointly with real gambling clubs. Here we introduce a package of AYFB recommendations that will be …

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AirBaltic, AZAL to Carry Out Joint Flights to Riga

AZAL, AirBaltic to Carry Out Joint Flights to Riga

Azerbaijan Airlines and Latvian airBaltic will begin operating joint flights on Baku-Riga-Baku route from May 29, 2016. airBaltic flights on this air line will be operated under the codes of both airlines, according to the code-share agreement. Direct flights from Riga to Baku will be operated every week on Wednesdays and …

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Baku Awaits for 30 Luxury Trains for BTK

Baku Awaits for 30 Luxury Trains for BTK

This year, Azerbaijan will receive 30 comfortable passenger trains for operation on the Baku-Tbilisi-Kars railway. The new luxury trains have many advantages including high speed internet access, high-quality service, comfortable beds and restaurant. The cars are manufactured in four categories, including standard, comfort, business and restaurant. Depending on the category of …

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Increased Excise Rate – Reduced Industry

Nikoloz Khundzakishvili

What is the fate of the increased beer excise rate and will  the government revise it again, based on the current indicators? “The government must stimulate the industry and revise the incorrect decisions”. The enterprises assert that the government has taken an incorrect decision and the industry bears losses and …

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Lasha Papashvili Reports Concerning the Meeting with PM

Lasha Papashvili Reports Concerning the Meeting with Georgian PM

The founder of the “REDIX” company – Lasha Papashvili, makes report after the yesterday’s meeting with Prime Minister Giorgi Kvirikashvili. According to him, rather important business issues were discussed during the meeting. As the businessman noted, those important issues discussed were about real estate and juridical system mainly. According to him, …

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