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Business

Travel Companies Closing in Georgia

According to CEO of Medea Travel, many tour operators are on the verge of bankruptcy due to the financial crisis. “We have already closed all offices, except for one.Banks do not give us loans, they believe that the tour operators do not have the resources to pay them, “- the …

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Russia’s Central Bank Boosts Ruble Liquidity

Starting October 27th Russia’s key financial regulator Central Bank introduced a new financial tool known as foreign currency repo, or repurchase agreement.   “These operations are aimed at further empowering credit institutions to manage their own short-term currency liquidity,” according to Central Bank of Russia’s press center.   The credit organizations …

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Culture of Service in Adjara – Results of Research

A preparation for a new season has already begun in the Black Sea region of Adjara; within this process, a research of the already ended season was conducted – in particular, participants of the research under the guise of ordinary citizens checked quality of services at restaurants and hotels of …

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Foreign Companies Win More Frequently in Public Tenders in Georgia

Over the past year, foreign companies won public tenders in Georgia more frequently than the national ones did. This information is confirmed by the study conducted by the NGO “Transparency International – Georgia”, which will be published in the near future. According to a representative of the organization Anna Dabrundashvili, …

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International Investment Forum Tbilisi, 2014

Today Tbilisi hosts a two-day long international investment forum  – “Georgia – Regional Center and the Door of Asia to Europe.” The Forum that takes place at Radisson Hotel was opened by Prime Minister Irakli Gharibashvili. Nearly three hundred  representatives from the governmental and business sector will attend the forum. …

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Export from Georgia to China Grew by 68%

Georgia is becoming more interesting and promising for Chinese business – this was said at the Georgian-Chinese Business Forum in Chengdum. As per the data for  6 months of 2014, the trade turnover between Georgia and China reached USD380 million which is 26% more than in the same period of …

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Georgia’s Economic Freedom Index Improved

Georgia has  improved its position moving from 25th   to 16th   place in the  2014 Index of Economic Freedom compiled by an international organization “Fraser Institute” asserting  its place in the list of  the countries with the freest economy. It should be borne in mind that the rating reflects data for …

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