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Daily Archives: April 3, 2015

World could run out of minable gold in 20 yrs – report

The explored reserves of gold, diamonds and zinc will be enough for 20 years of extraction, according media reports citing a Goldman Sachs research. The explored reserves of platinum, copper and nickel will last for 40 years. “The combination of very low concentrations of metals in the Earth’s crust, and …

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Azerbaijan’s biggest bank raises capital

Reuters- International Bank of Azerbaijan (IBA), the largest and only state-owned bank in the oil-rich country, said on Thursday it has increased its charter capital to 890 million manats ($848 million) from 200 million manats. The decision was made at the shareholders’ meeting, the bank said in a statement. The …

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Georgia receives top award at Japan wine show

Georgian wine is gaining recognition in Asia and especially among Japanese women, who recently rewarded Chkhaveri wine from Guria in Georgia’s west with a Diamond Trophy. The Diamond Trophy is the highest award of Sakura Japan Women’s Wine Awards and presented to the best wines submitted in the competition. The …

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Competition Heats up among Georgian Supermarkets

A few months ago a new player – “Libre” company started operating in the market. Its first hypermarket appeared in Tbilisi in December. According to the company’s CEO Shota Basilashvili, “Libre” is distinguished by the number of imported goods which are not sold anywhere else in Georgia – in particular, …

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Georgia Experiences the Deficit of Middle Class Hotels

The demand for hotels in Georgia grows higher than the supply – if in the past 4 years, the number of visitors grew by 30% per year, the number of hotel rooms – only by  6% – “Colliers International”, a leading global commercial real estate company, says  in its study …

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Exhibition describes establishment of Tbilisi’s first self-government

Georgia’s National Museum is hosting an exhibition that details the establishment of the capital city’s first local government. Unique documentary materials dating back to the late 1800s and early 1900s describe the state of the local scene when Georgia was part of the Russian Empire and the establishment of local …

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World Bank approves $52m project to boost power supply reliability in Armenia

world bank armenia

The World Bank Board of Executive Directors has approved a US$52 million loan for the Electricity Transmission Network Improvement Project for Armenia. According to a press release, the new project will improve the reliability of the power transmission network and system management, and support the Government’s efforts in ensuring adequate …

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Infographic: Kardanakhi, Georgian Wine Origin

kardanakhi wine

The Kardanakhi PDO extends across the administrative territory of the village of Kardanakhi in Gurjaani municipality and the appellation is situated on the right bank of the Alazani river. It has a moderately humid climate and bears ripe grapes which are ideal for the production of traditional Kakhetian qvevri wines. …

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Giorgi Tevzadze 2015 Cup Tournament in Drifting

On March 29, 2015 the automobile social network of NeedForDrive.com and the Giorgi Tevzadze and Friends charity foundation held the Giorgi Tevzadze 2015 Cup Tournament in Drifting. In honor to the memory of our friend, NeedForDrive.com and the Charity Foundation will hold the Giorgi Tevzadze (Tevzi) Cup Tournaments at the …

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