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Yearly Archives: 2019

Agreement on Air Traffic between Georgia and Saudi Arabia Signed

Deputy Minister of Economy and Sustainable Development, Akaki Saghirashvili, within the frames of the visit to Saudi Arabia, signed an Agreement on Air Traffic between the Government of Georgia and the Government of  the Kingdom of Saudi Arabia. Akaki Saghirashvili, together with the delegation of the Ministry of Economy and …

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Skills Development Will Be Key to Attracting Investment to High-Value Sectors in Georgia — ADB

Skills development will be essential in leveraging Georgia’s enabling business environment and facilitative infrastructure for higher foreign investment and growth, according to a new Asian Development Bank (ADB) report. In its flagship economic publication, Asian Development Outlook (ADO) 2019, ADB projects Georgia’s gross domestic product (GDP) to grow by 5.0% in …

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Currency Exchange Offices in Georgia had Turnover of 9 Billion GEL in 2018

9,189,600,000 billion GEL entered in the exchange offices of Georgia in 2018. According to the data provided by National Statistics Office of Georgia (Geostat), during this period exchange offices have earned 12,700,000 GEL overall. Data also suggests that 6,700,000 individuals have used this service, which means that the average amount …

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Phubber: Digital Shopping in Georgia

Phubber – This is a digital platform that enables to make the things useless for others useful for us and this is the place, where any person can sell useless things and buy a new one. Anano Dolaberidze, one of the founders of Phubber told BM.Ge that the objective of …

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GPI Holding Publishes an Audit Report of 2018

GPI Holding published an Audit Report of 2018. Company compensated 79 million GEL in 2018; increased attracted bonuses by 6%; The retail portfolio of health insurance increased by 19%; The company’s capital is 32 million GEL. April 1, Georgia, Tbilisi: Insurance Company “GPI Holding” continues steady growth. According to the …

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Silk Road Bank Appoints New CEO

Silk Road Bank appointed Eli Enoch, as a new CEO. Enoch has worked on the position of the head of Strategic Planning Service in Silknet. Enoch replaced Alexander Dzneladze, former CEO of the bank who is currently the President of the Banking Association of Georgia. The Association members were elected …

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Two Deputy Directors General Quit Bank of Georgia

BGEO Market Capitalization Constitutes 1.5 billion GBP, TBC Nears 1 billion GBP

Bank of Georgia has released a statement notifying changes in the management. Namely, deputy directors general David Tsiklauri and Ramaz Kukuladze have quitted the board of directors. According to the Bank of Georgia information, Sulkhan Gvalia will occupy the position of a bank’s deputy director general in the direction of …

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GDP Growth in 2018 Exceeded Initial Forecast

According to preliminary indicators, real growth in GDP in 2018, as compared to 2017, made up 4.7%, while the deflator changed by 3.6%. 2018 GDP volume in current prices constituted 41,077.5 million GEL, up 8.5% year on year. As for specific fields in the total GDP structure, trading and industry …

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Istanbul’s Gigantic New Airport Opens to the Public on April 7

Istanbul’s gigantic new airport opens fully to the public on April 7, -BBC article reads. It will service more than 300 destinations and will have 500 check-in points, six runways and spaces to park 40,000 vehicles (a European record). First of all, the tricky job of transferring operations from the …

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Alliance Group to Build the First Energy-Efficient Shopping and Business Centers in Batumi

The leading Georgian construction and development company Alliance Group is set to implement an unprecedented energy-efficient project in Batumi. Having already built several premium-class hotels and aparthotels for international brands in Adjara, the company’s latest project involves construction of the region’s first international-standard shopping center and A-class office space in the …

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Air France Launched Its First Flight in Tbilisi

The first direct flight to Tbilisi by the French national airline, the AIR FRANCE was performed at the Shota Rustaveli Tbilisi International Airport. President Salome Zourabichvili was the First Passenger of the first direct flight, which also brought French tour operators, bloggers and journalists to Tbilisi. A reception ceremony was …

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