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Developers Switch Strategy on Sales due to the Lari’s Devaluation

After “Archi Group”, the  construction company M2 is the second development company in the Georgian market started selling  apartments in GEL due to  the national currency’s depreciation. Those who wish to purchase an apartment in the company’s residential complex  can take  the mortgage loans in the lari. The company negotiated …

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“Rosneft” has Bought 49% Petrocas Energy for $ 114 Million

“Rosneft” has acquired 49% of the oil trading company Petrocas Energy Limited from businessman David Iakobashvili for $ 144 million, payment occurred in January, the report of “Rosneft” under IFRS for 2014 says. At the end of December 2014 “Rosneft” signed the final documents for the acquisition of 49% stake …

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Direct Air Travel between Iran and Georgia could be Restored

Direct Air Travel between Iran and Georgia could be Restored

Restoration of direct air links between Georgia and Iran can get back on the agenda – it all depends on how actively the Iranians will arrive in Tbilisi since  March 21, when the country begins to celebrate the New Year holidays. However, it is possible that the problem with the …

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Tbilisi City Hall Abandons the Idea of “the Second Level” Public Transport

Tbilisi City Hall doesn’t intend to carry out the “second level”  transport concept at the stage and will  use traditional methods  to unload roads  in the city. Soso Tsabadze ,”SkyWay”  representative in Georgia, told “Commersant” . The idea of the “second level”  public transport belongs  to SkyWay. According to Soso …

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Fast Food Costs and Choices in Tbilisi

KFC the most pricey fast food experience in Tbilisi – at least 22 GEL to try the famous chicken bucket CBW calculates what a standard American fast food meal will cost Georgian consumers. A meal at McDonald’s in Tbilisi will cost you roughly 7,50 laris. In this amount one can …

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Thousands of Oil Products Tanks Halted at Georgian-Azerbaijani Border

Thousands of Oil Products Tanks Halted at Georgian-Azerbaijani Border

What is the current situation in Batumi Seaport and why have about 2000 wagons been halted at the Georgian-Azerbaijani border? What are the problems transportation companies are facing and why do they plan to leave the Batumi Seaport and find alternative routes? According to the IPress information, after the new …

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Chinese Traders Leaving the Georgian Market

Chinese traders have closed several shops in the territory of  Lilo market  and  left Georgia. The commercial space owner, the businesswoman Laura Ghachava told “Commersant”.  According to him, the main reason for the return to  China is the lari’s devaluation. Ghachava explains they were also dissatisfied with their activity’s’  daily …

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Italian Ice Cream Parlor to be Opened in Tbilisi in mid-March

Italian ice cream parlor  “Caprigiani” will be opened in Tbilisi in mid-March.  The café will be opened  in the  former trade center “Pirimze”  by Amiran Gagua, a famous  person  in Sokhumi. Amiran Gagua owned café  “Penguin”   in Sokhumi  which was  a gathering spot for the whole town. It is a …

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Businessman Cezar Chocheli Offers a Plan to Stabilize the Georgian Lari

Businessman Cezar Chocheli believes the development of local production is the main factor   for the lari’s stabilization and economic development. For this purpose, the businessman offers the government to  allocate GEL 100-150 million annually in the near 3-4 years for business development. Chocheli says  that businesses should have greater access …

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A New Wave of Price Increases Expected in April

Due to the lari’s depreciation, some importers are forced  to increase the prices of products from April at least 15-20%. According to Director General of “Alliance”,  one of the largest importers, they have not hiked prices yet as the company  has a long partnership relations with suppliers which helped  to …

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