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Updated: 2 days 1 hour ago

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.

Fitch Affirms JSC Liberty Bank at 'B+' with Stable Outlook

Tue, 08/09/2022 - 16:32
Fitch Rating has affirmed JSC Liberty Bank's rating at 'B+' with a Stable Outlook

Khalik Bank is N 10 as a Profitable Bank

Mon, 08/08/2022 - 11:12
Tbilisi (GBC) - Khalik Bank increased its personnel expenses by 1 million. The salary budget for the first half of the year amounted to 6.3 million GEL (L/Y – ₾ 5.3 million). The total non-interest expense, which includes inventory and operating expenses along with personnel compensation, is 10.5 million GEL (H1/2021 – ₾ 9 m GEL)

Car imports increased by 29%

Mon, 08/08/2022 - 11:12
Tbilisi (GBC) - In June, Georgia imported 8,794 units of light vehicles worth $105.6 million, which in monetary terms is 28.8% more than the same period of the previous year (June 2021: 11,788 units worth $81.9 million).

4 billion barrels of oil passed through the Baku-Tbilisi-Ceyhan pipeline

Mon, 08/08/2022 - 11:11
Tbilisi (GBC) – According to BP's quarterly report, from June 2006 to the second quarter of 2022, the 1768 kn long Baku-Tbilisi-Ceyhan (BTC) pipeline transported a total of 3.9 billion barrels of crude oil.

Is the economy overheated?

Mon, 08/08/2022 - 11:11
Tbilisi (GBC) - After the recovery of the economy by 10.4% last year, a strong growth of more than 10% is expected again this year. Against this background, the chief economist of TBC Capital answers the question - is there room for the economy to overheat?

The railway breaks the record of the last 7 years in shipments

Mon, 08/08/2022 - 11:10
Tbilisi (GBC) - Georgian Railways has published the results of the first 6 months of 2022 freight transportation. In the first two quarters of this year, the company transported a total of 6.8 million tons of cargo, which is 13.3% higher than the figure of the same period of the previous year. As for the income, the income received from shipping exceeded 191 million GEL, which is the highest rate in the last 7 years. We would like to remind you that the Georgian Railways has been maintaining the increasing trend in freight transportation since 2018.

TBC Uz has attracted an investment of $35.1 million

Mon, 08/08/2022 - 11:09
Tbilisi (GBC) - TBC Bank Uzbekistan has attracted additional investment of $35.1 million. Additional investment is made by the European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC) and TBC Bank Group PLC.

NBG continues to buy currency

Mon, 08/08/2022 - 11:09
Tbilisi (GBC) - foreign exchange reserves increased to 3.7 billion US dollars. In total, reserve assets exceeded $4 billion, surpassing the $4.1 billion mark for the first time since December (2021).

If inflation is below the target of 3%, the rate will be lowered - Mestvirishvili

Fri, 08/05/2022 - 12:06
TBilisI (GBC) - At the presentation of the monetary policy, the vice-president of the National Bank of Georgia, Archil Mestvirishvili, presented the monetary policy report.