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Updated: 1 hour 34 min ago

Imported pasta price increased by 63%

Fri, 08/12/2022 - 19:45
Tbilisi (GBC) - In June, 1.5 thousand tons of pasta worth $1.8 million were imported into Georgia, which in monetary terms is 68% more than the same period of the previous year (June 2021: $1.1 million, 1.4 thousand tons).

Georgia has a foreign debt of $7.8 billion

Fri, 08/12/2022 - 19:45
Tbilisi (GBC) - Georgia's foreign debt is up to 7.8 billion dollars.

TBC received 9 awards for the best innovative and digital services

Fri, 08/12/2022 - 19:42
Tbilisi (GBC) - The influential international business publication Global Finance has published its annual results. In 2022, TBC achieved special recognition in 9 nominations, both nationally and regionally.

The government expects fuel to become cheaper

Fri, 08/12/2022 - 19:41
Tbilisi (GBC) -The Ministers of Economy and Finance met with the fuel sellers and discussed the forecasts in the fuel market, competition issues and opportunities to reduce margins.

Demirören will invest capital in the construction of Hotel Iveria in Tskaltubo

Thu, 08/11/2022 - 19:38
Tbilisi (GBC) - Demirören Holding company plans to invest heavily in the construction of a new 5-star hotel "Old Iveria" in Tskaltubo.

In January-June, exports to Russia decrease, while imports increase

Thu, 08/11/2022 - 19:37
Tbilisi (GBC) - In January-June, the turnover of foreign trade with Russia amounted to $962.2 million, which in monetary terms is 31.8% more than the same period of the previous year (January-June 2021: $730 million).

Tornike Kordzaia was appointed as the director of Liberty's retail banking department

Thu, 08/11/2022 - 19:36
Tbilisi (GBC) - Tornike Kordzaia was appointed as the director of Liberty Bank's retail banking department.

The purchase of chocolate on the international markets of Georgia has become more expensive

Thu, 08/11/2022 - 19:35
Tbilisi (GBC) - The purchase of chocolate on the international markets of Georgia has become more expensive.

Basisbank is 0.8% away from the 3rd place

Wed, 08/10/2022 - 05:10
Tbilisi (GBC) - The share of bad loans in the retail portfolio of Basisbank (BB) is 0.08%.

Tegeta wins a new tender

Wed, 08/10/2022 - 05:09
Tbilisi (GBC) - "Tegeta Motors" LLC wins the electronic tender announced by the Ministry of Internally Displaced Persons of the Autonomous Republic of Abkhazia on July 22.

National Bank replenishes reserves - NBG bought $40 million

Wed, 08/10/2022 - 05:08
Tbilisi (GBC) - The National Bank is replenishing its reserves against the background of strengthening of the GEL.

China lost the leadership in the export markets of Georgian spices from Russia

Wed, 08/10/2022 - 00:16
Tbilisi (GBC) - China has lost the leadership in Georgian spice export markets from Russia. More than half of Georgian export spices are sold in China.

Taking inflation into account, the average salary increased by only 111 GEL in 7 years

Wed, 08/10/2022 - 00:16
Tbilisi (GBC) - From 2015 to 2021, the nominal wages of salaried employees in Georgia increased by 50.7%. However, taking into account the inflation, the increase in wages during the same period amounted to only 12.2%. According to the PMCG research, if in 2015 the average salary in the country was 900 GEL, taking into account the inflation, in 2021 this figure increased to only 1011 GEL. The nominal salary increase (without inflation) amounted to 456 GEL.

TBC raised 300 million GEL from FMO

Wed, 08/10/2022 - 00:15
TBC Bank signed a 300 million GEL loan agreement with the Development Bank of the Netherlands, FMO. The 5-year, local currency financial resource will mainly be used to finance young entrepreneurs and mortgage borrowers. Also, the loan will be used for green projects, as well as for micro, small and medium-sized entrepreneurs in Georgia.

About 2.4 million international travelers visited Georgia in January-July

Tue, 08/09/2022 - 22:11
Tbilisi (GBC) - Tourist flows are increasing in Georgia.

Despite inflation, the demand for premium segment apartments has doubled

Tue, 08/09/2022 - 22:10
Tbilisi (GBC) - In the first half of the year, along with the increase in demand for residential real estate in Tbilisi, the weighted average selling price also increased.

By banning gambling advertising, TV stations' income has decreased

Tue, 08/09/2022 - 22:09
Tbilisi (GBC) - The ban on gambling advertising reduced the income of Georgian television and radio stations by 4 million GEL per year. According to the data of the National Communications Commission, in the second quarter of 2022, the total commercial advertising income of television and radio broadcasters amounted to 19 million GEL.

Technological services of the Viber application will be provided from Georgia

Tue, 08/09/2022 - 22:08
Tbilisi (GBC) - Information technology services of the Viber application will be provided from Georgia, - "Viber JEE" was granted the status of an international company in the field of information technology (IT) on April 8.

Income from TBC's retail lending increased

Tue, 08/09/2022 - 22:05
Tbilisi (GBC) – As of H1/2022, TBC's assets include 147.6 million GEL of owned property (H1/2021 – GEL 99.2 million).

Education financing remains a low priority for banks

Tue, 08/09/2022 - 22:04
Tbilisi (GBC) - construction lending remains the most attractive for banks. Compared to the pre-pandemic period, the portfolio has doubled, a 100% increase. The 2-round subsidy program also made a good contribution, however, during a crisis, be it a pandemic or a war, the market is characterized by similar behavior. Investing in an asset with a high investment value is considered more or less the safest and most profitable.