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Business Week Summary

Caucasus Business Week sums up the main events of last week.

Extended Meeting was Held Between Chancellor of Germany and Prime Minister of Georgia

Angela Merkel discussed German investment possibilities in Georgia. While we learned from Thomas Bareiss that Deutsche Bahn is interested in cooperation with Georgia.

 

 

JSC Nenskra Hydro will Cooperate with Mestia Municipality in a New Format

On August 23, the Memorandum of Cooperation was signed in Mestia between the Nenskra Hydropower Plant Project company JSC Nenskra Hydro and the City Hall of Mestia municipality.

 

 

Strawberry of Pineapple Flavor – Outcome of Farmer Giorgi Latsabidze’s Scientific-Selective Work

Young Georgian farmer discovers a new type of strawberry

 

 

 

Fabrika Takes Second Place at Global Architecture & Design Awards

Out of the 748 submitted projects, Fabrika took the second award in the “Rethinking The Future“’s Global Architecture & Design Awards in the category of Urban Design (Built).

 

 

Fitch Affirms Georgia at BB-; Outlook Positive

Fitch Ratings has affirmed Georgia’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) at ‘BB-‘. The Outlook is Positive.Georgia’s ratings are supported by governance and business environment indicators that are above the current medians of ‘BB’ category peers, and a track record of macroeconomic resilience against regional shocks.

 

Domestic Electricity Consumption Grows by Annual 12.6% in June

In June 2018 domestic consumption of electricity rose by 12.6%. The growth constituted 8.4% in the first half of 2018. Domestic consumption increased as a result of increased consumption among direct consumers and distribution companies.

 

 

 

World Banks Issues First Blockchain Bond Raising a $100 Million

The World Bank launched bond-(blockchain operated new debt instrument), the world’s first bond to be created, allocated, transferred and managed through its life cycle using distributed ledger technology.

 

 

 

Georgian Wines and Chacha win Top Awards at China’s CWSA Contest

Eight Georgian wines and one chacha were awarded with double gold awards at China Wine & Spirits Awards (CWSA) 2018. Besides the top “double gold” wards, Georgian wines won 20 gold medals, 6 silver and 8 bronze awards. This is a huge progress compared to last years’ performance at CWSA.