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Daily Archives: June 22, 2015

The Korea Herald : Georgia trumpets status as the jewel of Caucasus

Georgian Tourism Administration was presented at the Korea Travel Fair 2015 at Coex in Seoul. A very well know media company The Korea Herald, which operates over 60 years already, writes about Georgia and assesses its display at Korea Travel Fair. Georgia has described itself as the hidden tourist gem of …

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BSTDB Concludes the 17th Annual Meeting of the Board of Governors


Tbilisi, June 21, – The Board of Governors of the Black Sea Trade and Development Bank  (BSTDB) held its 17th Annual Meeting of the Board of Governors under the Chairmanship of Mr. Giorgi Kadagidze, President of the National Bank of Georgia. The Board of Governors approved the 2014 Annual Report …

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Georgian Sportsman Beats World Record at Baku 2015

Bachana Khorava wins the Men’s Long Jump with jump of 7.64.  Bachana Khorava of Georgia competes during the Men’s Long Jump on day nine of the Baku 2015 European Games at the Olympic Stadium.   Bachana Khorava with the winning jump in the Men’s Long Jump ‪#‎Baku2015‬ A video posted by Baku2015.com …

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Micro finance Sector’s Benefits Amid GEL Devaluation

Sector’s Profits Rose by 12% in 1Q15 The market of microfinance organizations is one of the flourishing sectors in the Georgian economy with 71 legal entities, 300 service center, 4 344 employees and assets of over 1 billion GEL. The history of microfinance organizations in Georgia started 10 years ago. …

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Investors to Finance Major Energy Projects for $2 Billion


The Georgian energy sector will draw considerable investments. Namely, Pegasus East West company plans to invest about 300 million USD to purchase the Gardabani steam power plant. At this stage, the agreed value of the deal makes up 90 million USD. As reported, the plant’s installed generation is 230 megawatts. …

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Georgian Business People Assessing Removing Tax on Reinvested Profits

Opinion of Influential Businessmen Last period discussions on the reinvested profits tax abolition have intensified. The initiative was first raised by Economy Minister Giorgi Kvirikashvili. The decision was positively appraised by the Taxpayers Association. The organization put forward its own scheme for the tax removal, under which the tax amount …

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The Dollar Weakening, but the Lari not Recovering

The dollar began to weaken again in the world. In the last days the euro rose to 1,14  against the dollar, the Russian ruble, Azerbaijani manat, Armenian dram, the Turkish lira have also strengthened. But the weakening of the dollar had no impact on the value of the Georgian lari …

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Georgian Artists Host Exhibition for Tbilisi Flood Victims

Georgian artists are coming together to raise funds for the victims of the devastating flash flood that ripped through Tbilisi overnight on June 13. Tomorrow, Tuesday June 23, Georgian artists will gather at the National Parliamentary Library in Tbilisi and host a charity exhibition and sale of handmade art and …

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Georgia’s Advertising Market in Crisis

Crisis hits  Georgia’s  advertising market. The private sector saves money on advertising and spends less than in previous years. Since April 1, new advertising regulations have entered into force in Georgia, which limited the air time for advertising to 12 minutes per  hour and 4 minutes for  sponsorship services. Changes still …

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The Second Phase of Rabati Fortress Development Postponed Indefinitely

The second phase of the  Rabati area development​​, which includes a further refurbishment and rehabilitation of the baths, has postponed for  the uncertain period and despite the government’s promises,  the starting date is still unknown. Neither the Director of the Rabati fortress  nor the Akhaltsikhe municipality MP  can specify  a …

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A Fate of Escaped Zoo Animals still Uunknown

The State Security and Crisis Management Council informs that the situation with missing predators remains unchanged. One tiger and one striped hyena are considered to be missing at present. The 112 emergency service received 15 calls on June 21, but no predators were found as a result. The Crisis Management Council …

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