Home / Economy (page 282)

Economy

Georgia exports wine to 46 countries

The number of countries importing Georgian wine is increasing, resulting in more Georgian wine being exported and enjoyed all around the globe. From January 1 to November 30, Georgia exported wine to 46 countries, reported the National Wine Agency of Georgia (NWA). Georgia exported 55.2 million 0.75 litre bottles of …

Read More »

3rd International Caspian Energy Forum – 2015

Cross Caspian Oil & Gas Logistics LLC, Azpetrol Ltd LLC and PAŞA Bank OJSC become golden sponsors. Baku will host the 3rd International Caspian Energy Forum–2015 and Caspian Energy Award – 2015 official awarding ceremony on March 11, 2015. The events will be held under the support of the Ministry of …

Read More »

Enactment of a Compulsory Auto Insurance Law may be Postponed

The enactment of a compulsory automobile insurance law may be deferred until 2017-2018. According to President of the Georgian Insurance Association Devi Khechinashvili ,  if the active work on the bill on Compulsory Insurance against Civil Liability in respect of Motor Vehicles  has not  started at the end  of the year …

Read More »

Georgian Wine to Rise in Price in the Russian Market

Whether the ruble’s depreciation will cause   a hike  in prices of  Georgian wine on the Russian market? What risks are the Georgian winemakers talking about and what are  the Russian side’s requirements? At this stage  exporting companies have already received the first messages from  the Russian partners. Georgian wine will …

Read More »

The “Young Barristers” appeals to the Minister to revoke an order removing the status of the Sakhdrisi-Kachagiani monument

The organization “Young Barristers” presented a prepared research and recommendation proposals on the legal issues of Sakhdrisi-Kachaghiani monument, which prepared after studying of factual and legal issues of Sakhdrisi-Kachagiani monument.  The research of the “Young Barristers” answers all those important questions, which acquired in the society and still continues discussions …

Read More »

In 2014, Georgia to Import about 90% of Wheat from Russia

Information about limitation of wheat exports from Russia creates problems in the international market, Georgian importersspeak about the possible dangers in this regard as well. According to the head of the Grain Growers Association Levan Silagava, the risk of rising prices for bread is associated not only with the decision …

Read More »

Cases of Power Cuts Becoming more and more Frequent in Georgia

Georgian State Electric System (GSE) refutes common belief that recently the cases of power failure have become more frequent in the country and says that the situation with power supply has not become worse. According to the organization, the number of large-scale system outages was about the same in 2014 …

Read More »

Russia’s Impact Fully Absorbed by Lower Oil Prices

Georgia is continuing to grow robustly by 5.9% y/y in 9M14 despite Russia’s economic slowdown and regional turbulence. We expect the solid performance to continue. Remittances, the biggest exposure for Georgia to Russia, remain resilient, as a decline in Russian transfers was fully offset by higher remittances from other countries. …

Read More »

10M14 exports up 5.2% y/y; imports up 11.4% y/y

10M14 exports increased 5.2% y/y at US$ 2.43bn, while imports were up 11.4% y/y at US$ 7.01bn, according to foreign trade data released by GeoStat. As a result, trade deficit reached US$ 4.58bn with 49% share in total trade turnover. During this period, export growth to Russia (+78.6%), USA (+55.5%), …

Read More »

Russian ruble takes a nosedive as oil price drops

MOSCOW — Russia’s ruble hit a new all-time low on Monday, dropping more than 4 percent as declining oil prices and the conflict in eastern Ukraine weigh on the country’s economy. The Russian currency traded at 52.41 rubles against the dollar in morning trading Monday after shedding 15 percent in …

Read More »

Russia Restricts Grain Exports

Rosselkhoznadzor asked the Minbistyr of Agriculture  to ban grain exports through offshore countries, Head at Rosselkhoznadzor Sergei Dankvert told TASS agency. The main buyers of Russian grain are Turkey, Egypt, Yemen, Israel, Sudan, South Africa, Iran and South Korea and Georgia. According to Dankvert, now the bulk of Russian grain …

Read More »

EXCHANGE RATE MONITORING (24.01.2014-28.11.2014)

The GEL exchange rate against USD has considerably shrunk week on week. The rate declined by 2.3% to 1.8367 point from 1.7938 point grom November 24 to November 28. The GEL exchange rate against EUR fell by 2.6% to 2.2905 point from 2.2313 point. As to GBP, on November 24 …

Read More »