A five-star “Rixos” hotel will open in Likani in December. Irakli Kovzanadze, Director of the Partnership Fund (PF), told “Commersant”. A 152 -room hotel will be located in the territory of the former Fourth Division. The project is jointly carried out by the Partnership Foundation and the Kazakh state oil and gas company “KazMunaiGas”. A total investment volumein the complex amounts to USD 38.5 million, the Partnership Fund’s contribution is 50%. The Kazakh company acquired the object in Likani …
Read More »Daily Archives: August 8, 2014
Developers Warn Deputies of Tbilisi City Assembly
Representatives of the real estate companies call the deputies of the Tbilisi City Assembly to refrain from making statements that could interfere with the business and investment climate. In particular, the new head of monitoring and audit service of the City Assembly Badri Gogadze said he would check the legality of …
Read More »GEL Exchange Rate Began to Strengthen
The exchange rate of the Georgian national currency began to strengthen in the last two months and at the end of July the GEL exchange rate against the USD amounted to 1.7418 while today- 1.7274. On August 1, 2014 the National Bank of Georgia (NBG) purchased $ 20 million at the National Bank’s currency auction, the weighted average …
Read More »New Silk Road – What Economic Benefits will the Project Bring to Georgia?
The government is working on the idea of the new Silk Road. Prime Minister Irakli Garibashvili says that thereby, Georgia’s potential will be fully used. “The strategic location of Georgia is becoming more and moreimportant. For this reason we develop the new Silk Road idea. Chinese government expressed its interest and I’ve already had a conversation with Romanian Prime Minister – we start a deep-water port construction to accept the Panamax large-sized vesselsand to …
Read More »Russia’s Ban on Transit Flights of Ukrainian Airlines Affected Georgia-based Air Companies
Russia has decided to stop transit routes of Ukrainian airlines through its territory to the number of countries, Prime Minister of the Russian Federation Dmitry Medvedev stated. “Ukraine International Airlines” and “Dniproavia” fly from Ukraine to Georgia today. “Commersant” got in touch with the airlines representations in Georgia. “Ukraine International Airlines” says that they …
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