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Daily Archives: November 6, 2017

Georgian Seamless Pipes Exported to the US Market

The Rustavi Metallurgical Factory exported its own brand of seamless pipes to the US market. 1000 tons will be sent to the largest export market on November 25. Company aimed at international market with its own brand two years ago. It required permanent and intensive work of company management, sales …

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Magticom Suffers from Two-Week Continuous Cyber Attacks

MagtiCom is Growing Tariffs With G-Mobile and Roaming Partners

Over the past 2 weeks continuous cyber attacks are being carried out on various segments of Magticom Internet network, the company statement reads. “Magticom has a well protected network and upon detecting cyber attack signs the company technical staff has enhanced security mechanisms. A part of Magticom subscribes had an …

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Construction of the Cable Car Connecting Kazbegi and Gudauri has Started

Construction of the cable car connecting Kazbegi and Gudauri has started. Company ”Color” is implementing a project by order of “Municipal Development Fund”. As a result, a 7,5 km rope will be arranged at the Kobi-Gudauri section, which will enable to reach Gudauri in 15 minutes. Lasha Iordanishvili, executive director …

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Last Night of Tbilisi 20th Jazz Festival

The 20th anniversary Tbilisi Jazz Festival closed yesterday at Tbilisi Concert Hall, performing Papuna Sharikadze, a Georgian jazz artist with special guest, bassist Eddie Gomez. During the concert, the young Georgian musician accompanied Eddie Gomez along with well-known hits, as well as Megrelian ”Nana”. Legendary Stanley Clarke performed on the …

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Products Rising in Price

In October the inflation level rose by 0.8% month on month, while annual inflation rate marked 6.4%. According to Geostat, national statistics service of Georgia, the inflation indicator was shaped by changed prices in the following product groups: food products and soft drinks: the group prices rose by 1.6% and …

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Commercial Banks Rather Harm Economy than Benefit

When appointed as the National Bank President, Giorgi Kadagidze sharply criticized commercial banks and blamed them for frustrating economic development. However, the time passed and Kadagidze has never dared anymore to make sharp statements in relation to commercial banks. We have not heard sharp statements from the current president of …

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Former National Bank Building Sells Out At Auction

Ministry of Finance and Economy of Ajara announces an auction on the former building of the National Bank of Batumi and its surrounding inventory once again. In total 2623,4 sq.m of non-residential space owned by the Autonomous Republic of Adjara, In Batumi. The electronic auction will be announced on 40% …

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The EU to Allocate 2.2 billion Euros for Clean Energy Projects

The program “Horizon 2020” allocates 2.2 billion euros for clean energy projects in four interconnected areas: renewable energy sources, energy-efficient buildings, electric power and storage facilities. It also includes 200 million euros to elaborate and produce next generation electric batteries that will play an important role in reducing dependence on …

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Mtskheta Cinema will Turn Into Archaeological Museum

Georgia has received World Bank funding for the third project of regional development (RDP III). A part of this financing will be used to adapt Mtskheta Cibema building to the Archaeological Museum. The Ministry of Regional Development and Infrastructure has announced tender on construction works. The state procurement is announced …

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