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Yearly Archives: 2019

Levan Surguladze: Pensions Contributions are Safer than Other Assets

Interview with Pension Agency Chief Levan Surguladze -Starting January 1, 2019, The Contributory Superannuation Scheme was launched in Georgia. What are the advantages of similar schemes, and why have we introduced a contributory pension system in Georgia at this specific time? -I would ask why we have not we introduced …

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Trust is Becoming a New Currency for Business and Life

Anna Shevchenko Regional Director at Noblet Media. What is it necessary to hold successful communication with public? I would highlight three important components in this regard. Setting up clear goals and objectives is the basic cornerstone on which successful communication campaign should be built. This is usually the first line …

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Fitch Upgrades Georgia to ‘BB’; Outlook Stable For the First Time

Fitch Ratings has upgraded Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BB-‘. The Outlook is Stable. KEY RATING DRIVERS The upgrade of Georgia’s IDRs reflects the following key rating drivers and their relative weights: High The Georgian economy proved resilient to negative developments in 2018. Economic growth …

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Food Trucks to Take over Tbilisi Within Night Economy

“Another project will be implemented within the night economy. So called Food trucks will be located in the capital, on specific locations, “said Deputy Mayor of Tbilisi Sophio Khuntsaria. According to her, small businesses are expressing great interest towards this project. According to Sophio Khuntsaria during video tape, a survey …

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EUGBC Suggests Create Monitoring Commission on TBC Bank’s Case

EU-Georgia Business Council (EUGBC) issued an official statement in regards to TBC Bank case. EUGBC expressed its support for TBC by stating that it is a company which has achieved a significant success.  EUGBC has also suggested to create a monitoring commission of the business representatives composed by 8 members …

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EU and UNDP promote Mediation and Arbitration in Georgia

Development of Alternative Dispute Resolution (ADR) in Georgia has been the focus of the projects of the European Union (EU) and the United Nations Development Programme (UNDP) in Georgia. Working closely with the Georgian Government, judiciary, private sector and educational institutions, the European Union and UNDP will continue promoting the …

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Natia Turnava: Georgia Supports Development of South Gas Corridor

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“Georgia supports the development of the South Gas Corridor. It is important that Europe will receive natural gas via the mentioned corridor, which will pass the territory of Georgia. The project is strategically important not only for Georgia but also for Europe, and, at the same time, it has a …

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TBC Bank’s 2018 Profit Rises

TBC Bank Group Plc reported a 21.5 percent jump in full-year earnings, as lending remained strong on the back of a strong macroeconomic performance. TBC, Georgia’s largest retail bank, said profit rose to 437.4 million laris (126.8 million pounds) in the 12 months ended Dec.31 from 359.9 million laris a …

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World Celebrates International Tourist Guide Day

An initiative of WFTGA, the International Tourist Guide Day is held on 21st February each year. In 1990, Mrs. Titina Loizides, president of the WFTGA was involved when it was held for the first time, 15 countries participated. Since then, tourist guides in an ever growing number of countries have been …

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Wood and Furniture Market Overview

According to National Forestry Agency, the total area of Georgian forest fund as of April 2015 is 2.8 million hectares, or 40% of the territory of the country. This is quite a high figure as the world average is 27% and for Georgia neighboring countries it equals to 15%. From …

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