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Updated: 2 days 1 hour ago

EU and UNDP will release some preliminary findings of labour market research

Mon, 09/12/2022 - 17:13
Tbilisi (GBC) - The European Union (EU) and the United Nations Development Programme (UNDP) will release some preliminary findings of labour market research which focuses on the sectors of tourism and health/wellness, covering 14 municipalities in five regions of Georgia (the Ajara Autonomous Republic, Guria, Imereti, Kakheti, Racha-Lechkhumi-Kvemo Svaneti).

Georgia is hosting the first international conference on competition and consumer rights

Mon, 09/12/2022 - 17:11
Tbilisi (GBC) - The first international conference on enforcement of competition policy and protection of consumer rights will be held in Georgia on November 16-17. The two-day event is planned to be jointly organized by the National Competition Agency, the National Bank, GNERC, the Communications Commission and the State Insurance Supervision Service. The National Competition Agency disseminates information about this.

Batumi hosts the first national Startup World Cup

Mon, 09/12/2022 - 17:10
Tbilisi (GBC) - Top ten Georgian startups competed in a national edition of the Startup World Cup held in Batumi on 10 September. International judges granted a spot in the Startup World Cup semi-finals in Silicon Valley to Theneo which explores ways of generating high-quality, interactive API docs. The finest Georgian startup will go on a big stage to showcase in front of 100+ potential investors and compete for a grand prize of US$1,000,000 in investment.

Investment Inflows 2Q Was Lower Than TBC capital’s Expectations

Mon, 09/12/2022 - 17:10
Tbilisi (GBC) - Second quarter FDI inflows print came in at USD 351.8 mln, being lower than the expectations, - according to the report The Chief Economist published by TBC Capital.

Amendments to the Georgia-Turkey Free Trade Agreement

Mon, 09/12/2022 - 17:10
Tbilisi (GBC) - Georgian Vice Prime Minister, Minister of Economy, Levan Davitashvili and Turkish Minister of Trade, Mehmet Muş, signed the amendments to the Georgia-Turkey Free Trade Agreement on September 9.

Passenger traffic Recovered By 92% In Comparison To August Of 2019

Mon, 09/12/2022 - 17:09
Tbilisi (GBC) - According to the data of August 2022, Tbilisi International Airport served 363 830 passengers, which is 92 % of the passengers of the same month of 2019 and 48% increase compared to 2021 passenger figures.

The issue of Poti port expansion is the investor's prerogative

Fri, 09/09/2022 - 21:36
Tbilisi (GBC) - There is full support from the Government of Georgia for Poti Port to expand if they are interested in it, - the Minister of Economy and Sustainable Development Levan Davitashvili announced this.

Return on pension assets has not outpaced inflation for the past year

Fri, 09/09/2022 - 21:34
Tbilisi (GBC) - The pension agency's real income still has a negative trend for the last 12 months. According to August data, it amounts to -2.03%. This means that for the last one year, the interest accrued on pension assets cannot beat the record inflation.

Terms of the Anaklia port tender will be announced by the end of the year

Fri, 09/09/2022 - 21:34
Tbilisi (GBC) - The state has conducted a feasibility study regarding Anaklia Port, but specific terms for new tender are still unknown. As Economy Minister Levan Davitashvili declares, details will be announced during the year.

The Budget And Finance Committee Approved The Legal Packages On The Accession To SEPA

Fri, 09/09/2022 - 21:34
Tbilisi (GBC) - The Committee discussed and approved with the II reading the legal packages on the accession of Georgia to SEPA.

Koba Gvenetadze named the rights of bank customers among the priorities of NBG

Fri, 09/09/2022 - 21:34
Tbilisi (GBC) - The National Bank regulates the banking sector in such a way that consumers are protected when interacting with financial organizations. The NBG President Koba Gvenetadze announced this during the presentation of the regulator's 2021 report at the plenary session of the Parliament and spoke about the steps taken in this direction.

Gvenetadze: NBG saw the risks of "second round" effects earlier than other countries

Fri, 09/09/2022 - 21:33
Tbilisi (GBC) - The National Bank of Georgia predicted the second round effect of inflation risks earlier compared to the other countries, and tightened the monetary policy to prevent these risks. Koba Gvenetadze, the president of the National Bank of Georgia, announced this on Thursday, at the plenary session of the Parliament, while presenting the 2021 report of the SEB.

Irakli Rostomashvili: Increasing the fine for wrong parking is the right decision

Fri, 09/09/2022 - 21:33
Tbilisi (GBC) - Irakli Rostomashvili, the architect and the founder of "Arsi" company, positively evaluates tightening of fines on car parking lots for improperly parked cars. According to him, sharply increasing the fine for wrong parking is the right decision. It is impossible to organize the parking system in any other way.

Georgia and Armenia agreed on electricity supply in emergency situations

Thu, 09/08/2022 - 15:56
Tbilisi (GBC) – An agreement was signed between the energy market operators of Georgia and Armenia at the meeting of the Georgian-Armenian joint working group on the field of energy held on Thursday, as well as the State Electricity System of Georgia and the "Market Clearing Center" of Armenia on the supply of electricity in emergency situations.

The interest rate on almost all types of loans has increased

Thu, 09/08/2022 - 15:55
Tbilisi (GBC) - The National Bank of Georgia reports, interest rates on all types of loans issued by commercial banks have increased in 2Q. The interest rate is reduced only on long-term loans issued in foreign currency.

277,698 Russian Citizens Entered Georgia After The Start Of The War

Thu, 09/08/2022 - 15:55
Tbilisi (GBC) - In March-June of this year, 49,505 citizens of Russia and 15,237 citizens of Belarus stayed in Georgia. This is stated in a study prepared by the Institute for Development of Freedom of Information [IDFI].

Ramaz Gerliani: With such a low rate of investments, we cannot overcome $1 billion mark

Thu, 09/08/2022 - 15:53
Tbilisi (GBC) – Regarding the FDI rates of the second quarter of foreign direct investments published by Geostat , Doctor of Economics Ramaz Gerliani says that when the share capital does not even reach $100 million in a specific quarter, it is not called "flows" of foreign investment at all. "Even with such a small increase, it is not possible to cross the $1 billion rate”, says Gerliani in a conversation with GBC.

68% Of FDI Is Reinvestment

Thu, 09/08/2022 - 15:52
Tbilisi (GBC) - The foreign direct investments (FDI) in Georgia amounted to USD 351.8 million in Q2 2022, up 9.1% from the adjusted data of Q2 2021, - according to the preliminary data published by the National Statistics Office of Georgia (Geostat).

BAG Hopes The Gov’t To Adopt Code On The Third Party Liability Insurance Late This Year

Thu, 09/08/2022 - 15:46
Tbilisi (GBC) - The Georgian Business Association (BAG) calls on the authorities to take active steps in the direction of "the Third Party Liability Insurance" (TPL). As the association notes, this is important for the state, as well as for the private sector and the security of the citizens.

Export Promotion Program For Agricultural Producers Was Launched At The Initiative Of USAID

Wed, 09/07/2022 - 11:03
Tbilisi (GBC) - With the initiative of the USAID rural development program, an export promotion program has been launched in Georgia, in which the agencies of the ministries of agriculture and economy are also involved. The project involves acquisition of skills for agro-producers, which will help both in finding buyers, as well as in conducting negotiations with them and forming offers. Ilia Tamarashvili, director of the Rural Development Agency, announced this.