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Updated: 2 hours 54 min ago

IMF Executive Director: The World Pays the Price for Trade Wars between Countries

2 hours 56 min ago
Tbilisi (GBC) – “Not recession, but I see long-term uncertainty and this situation negatively affects the market. The economy has plummeted”, IMF executive director Kristalina Georgieva noted and added that competitive business is a mechanism for coping with challenges.

Irina Milorava to Lead Energy Exchange

2 hours 57 min ago
Tbilisi (GBC) – Irina Milorava, the former director of Georgian National Energy and Water Supply Regulatory Commission (GNERC) will head the Georgian Energy Exchange, which was recently established with a 50%-50% co-ownership of Georgian Electrosystem (GSE) and Electricity System Commercial Operator (ESCO). The supervisory board members are Giorgi Chikovani, Mikheil Zibzibadze and Zaza Dvalishvili.

G&T Lowers Tourism Sector’s Revenues Forecast by 100 million GEL

2 hours 59 min ago
Tbilisi (GBC) – According to the G&T forecasts, in 2019 Georgia will host 5 million tourists, that is 5.2% annual growth. The investment bank’s forecast for Q4/2019 is 1 million tourists.

Fishers Show Less Interest in Georgia

Wed, 12/04/2019 - 19:45
Tbilisi (GBC) – In Georgia 7.5% of computer users were attacked by fishing systems, in Armenia – 12.48%, Azerbaijan – 12.16%, according to the Kasperski Laboratory report.

National Bank to Issue Collectible Coin for Olympic Games

Wed, 12/04/2019 - 19:14
Tbilisi (GBC) – The National Bank of Georgia (NBG) plans to issue a collectible coin for the coming Olympic Games. The NBG has already announced competition for the coin design.

Georgia Hospitals Group Buys Geo Hospitals Clinics from GPI

Wed, 12/04/2019 - 18:06
Tbilisi (GBC) – Georgian Hospitals Group plans to expand assets in medical sector. As a result of long negotiations, the company has bought 17 clinics of Geo Hospitals, a subsidiary of GPI Holding and took over a 100% stake in the network.

Georgia Imports 27 000 tons of American Grain

Wed, 12/04/2019 - 18:05
Tbilisi (GBC) – A US ship has delivered 27 thousand tons of grain to Poti Seaport as part of the Food for Progress program of the US Department of Agriculture (USDA).

Inflation Rate Hits Record Figure since 2017

Wed, 12/04/2019 - 13:15
Tbilisi (GBC) - The inflation rate in November rose by 0.9% compared to October (0.8% excluding tobacco) and made up 7%. Consumer prices grew by 6.3%. Base inflation marked 4.9% year on year and 3.5% excluding tobacco, according to Geostat, the national statistics service of Georgia.

ISUZU and MAN Buses to Renew Tbilisi Bus Fleet

Wed, 12/04/2019 - 12:58
Tbilisi (GBC) – Sixteen MAN buses (length of 10 meters, transportation capacity – 892 passengers, seats – 27) and thirty-eight ISUZU buses (length – 8 meters; 53/21) with EURO 6 emission standards will be added to Tbilisi bus fleet. All buses are fully adapted to persons with disabilities with opening ramps. The buses are equipped with WiFi connection, video supervision, voice message systems and USD chargers.

Inflow of Russian Tourists Decline

Tue, 12/03/2019 - 19:00
Tbilisi (GBC) – Tourism sector maintains a good trend of growth with 670 122 international visits in January-November 2019.

Flight Ban Turns Useless – IBIS Styles Market Specialist

Tue, 12/03/2019 - 18:58
Tbilisi (GBC) – In January-November 2019 Georgia has hosted much more international travelers than throughout 2018. This signifies the tourism sector has performed excellent job in both private and public sectors and overcome all challenges arisen since June 2019.

G&T Survey: Georgians Spend Less Money on Communication Services than Europeans

Tue, 12/03/2019 - 18:57
Tbilisi (GBC) – Georgians spend only 2.2% of incomes on telecommunication services, down 0.8% compared to European countries, according to G&T survey on Georgia’s telecommunication market.

PISA: Georgia among Failed Countries in terms of Pupils’ Academic Performance

Tue, 12/03/2019 - 18:55
Tbilisi (GBC) – According to the report by Programme for International Student Assessment (PISA 2018) of Economic Development and Cooperation Organization (OECD), Georgia has recorded one of the worst results among 79 countries.

TBC Bank Recognized as Georgia’s Best Bank in 2019

Tue, 12/03/2019 - 16:06
Tbilisi (GBC) – The Banker international financial edition has named TBC Bank as Georgia’s best bank in 2019 for special financial achievements, best experience of communication with clients and innovative digital services/products.

Deputy Economy Minister Reports on 5% Upturn in Tourism Sector

Tue, 12/03/2019 - 16:04
Tbilisi (GBC) - Turnover of registered enterprises in October rose by 14%. Based on this indicator, experts can assess economic activity. The number of new registered companies made up 4 232.

The most Sought-after Professions – Employers’ Priorities

Mon, 12/02/2019 - 22:11
Tbilisi (GBC) - One third of employees in Georgia are registered in trade and service sector, the Ministry of Economy has published a new labor market report. Namely, according to HR.Ge private agency, 31.5% of employees are recorded in services and trade sector. The ratio of technicians is 22.2%, specialists - 15.4% and office peripheral staff (13.9%).

Georgia Launches Citrus Exports to Singapore and Qatar

Mon, 12/02/2019 - 22:08
Tbilisi (GBC) – Mandarin picking season has entered active phase. The Minister of Agriculture and Environment Protection forecasts a fruitful year for farmers.

TBC Bank Enables Internet Banking Clients to Check Pension Deposits

Mon, 12/02/2019 - 16:04
Tbilisi (GBC) – TBC Bank has introduced a new service for beneficiaries of superannuation pension fund. Namely, users of TBC internet banking are able to check the amount of their pension savings on the internet banking account.

ProCredit Bank Grows Yield on EUR-denominated Deposits

Mon, 12/02/2019 - 15:46
Tbilisi (GBC) - ProCredit Bank has raised the yield on EUR-denominated deposits. The renewed conditions apply to term and saving retail deposits and certificates of deposit.

VAT Taxpayers’ Turnover Grow by 14%

Mon, 12/02/2019 - 15:29
Tbilisi (GBC) – In October 2019 VAT taxpayers’ turnover made up 7.736 billion GEL.