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Tag Archives: georgia

Our Goal is To Receive BBB Investment Rating As Soon As Possible: PM

The Prime Minister of Georgia, Giorgi Kvirikshvili, responded to the improvement of Georgia’s credit rating from Ba3 to Ba2, rating published by the international rating company Moody’s. Kvirikashvili pointed out that the goal of the government is to improve this rating quickly, which will put the country on a new …

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Georgia Initiates “Step toward a Better Future” Program

The Georgia authorities are taking concrete steps under the reconciliation and engagement policy, which seek to improve the humanitarian, social, and economic conditions of the populations in the Regions of Abkhazia and Tskhinvali, and to encourage contacts, movement, and relations based on mutual interests along and across the administrative boundary …

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Georgian Beer Company to Issue GEL-denominated Bonds

In the third quarter of 2018 we will issue GEL-denominated bonds, Georgian Beer Company director Kakhaber Kotrikadze said. This fact will enliven the market, Kotrikadze added. “Georgian companies should come up with European level companies in terms of market organization and production”, Kakhaber Kotrikadze noted. The company plans to intensify …

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Heidelberg on the Way to Ejecting Competitors and Monopolizing Market

HeidelbergCement Georgia is a major cement manufacturing company in Georgia, which owns 3 cement integrated plants, 13 concrete plants, 2 inert materials aggregates, 1 cement terminal and 1 cement-grinding plant. According to spread information, previously, the company was owned by businessman David Bezhuashvili, but he sold 50% stake to Co-Investment …

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EU, UNDP Help Link Business Development with Legislative Openness

Up to 60 representatives of business companies met members of the Georgian Parliament on 2 April 2018 to discuss how legislative openness affects business environment and offer some practical suggestions for Georgia’s third, 2018-2019 Open Parliament Action Plan. The meeting was organized by the Permanent Parliamentary Council on Open and …

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Updated Google Maps Includes Georgian Language

Google Maps learns 39 new languages, including Georgian. “Fourteen years ago, Google Maps looked a lot different, and it was only in English. Fast forward to today, and now more than 1 billion people use Google Maps to discover new places, find the best driving, biking, and walking routes, and …

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Fitch Improves Procredit Bank Georgia’s Outlook

Fitch Improves Procredit Bank Georgia's Outlook

Fitch Ratings imporved Procredit Bank Georgia’s outlook. The Rating Agency revised Procredit Bank Georgia’s Outlook to Positive from Stable. The revision of the Outlook to Positive follows the revision of the Outlook on Georgia’s sovereign rating to Positive from Stable. The affirmation of PCBG’s ‘BB’ Long-Term IDRs at one notch …

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Financial Improprieties Exposed at Three Universities

The State Auditing Service has examined universities under the management of Ministry of Culture, including Shota Rustaveli University of Theater, Apolon Kutateladze State Academy of Arts and Vano Sarajishvili State Conservatoire. The auditing process has exposed financial improprieties. Namely, they do not have a joint registration system to register debts …

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Georgia Received $159.3 Million Revenue From Tourism in January

In January, Georgia received $ 159.3 million in revenue from tourism. In January-February the number of tourists increased by 25% and the number of visitors increased by 17.2%. In February, the highest number (103,981) of visitors arrived in Azerbaijan. Armenia is in second place with 102,707 visitors, while Turkey has …

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Beer Imports Grow in Georgia

Beer imports to Georgia has almost doubled over the past 5 years. Geostat, national statistics service of Georgia, told BMG that beer imports has risen by 45% as compared to 2013, and totaled 11.3 million liters, while the figure was 7.8 million liters in 2013. Beer imports has risen by …

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