Economy
Money Embezzlement or Georgian Hospitality?
Money Embezzlement or Georgian Hospitality?
25 April, 2013
Millions were embezzled from Georgian state budget to cover expenses of the family members and relatives of the President of Georgia, ex-government-and-majority members, also to pay off travel expenses of some guests, particularly females arriving in Georgia. Georgian President calls this a simple hospitality. New government plans to set up a special parliamentary commission to investigate the unreasonable state expenses.
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Insurance Sector Losses and State Monopolist
Insurance Sector Losses and State Monopolist
18 April, 2013
Georgian insurance sector faced losses for the second consecutive year but more seems in store because the state very likely will become the monopolist on the health-insurance market.
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Georgian Draft Labor Law Clenches Business
Georgian Draft Labor Law Clenches Business
18 April, 2013
The new restrictions incorporated in Georgian draft labor code clenches business tighter than the western law, which may trigger unemployment and shadow deals.
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A GINO Wellness hotel opened near Rabati Castle
A GINO Wellness hotel opened near Rabati Castle
18 April, 2013
A four-star GINO Wellness Hotel jointly funded by the Partnership Fund and Eurocom Investment Georgia, was inaugurated on April 12, 2013, in nearby Rabati Castle in Akhaltsikhe region.
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Georgian Securities Market - Priority
Georgian Securities Market - Priority
18 April, 2013
Development of sluggish Georgian securities market will be a priority, new government pledges. Georgian Stock Exchange approves the decision, for without developed security market, Georgian economy stands only on one pillar as it cannot attract the portfolio of investments that is a base of transparent capital turnover and economic prosperity.
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Borjomi Is Back on Russian Market
Borjomi Is Back on Russian Market
18 April, 2013
Borjomi mineral water spurned by Russia for 7 years due to alleged sanitary reason, will reappear at Russian market soon because Russian sanitary service found the water in full compliance with sanitary norms after its recent testing.
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Two years before Georgia’s switchover to digital broadcasting – reality and challenges
Two years before Georgia’s switchover to digital broadcasting – reality and challenges
14 April, 2013
According to the decision made by the International Telecommunication Union, states including those of the European Union as well as Georgia are expected to finalize the switchover to digital broadcasting by June 2015.
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Online shopping to become more secure for Georgia after country joined PayPal system
Online shopping to become more secure for Georgia after country joined PayPal system
13 April, 2013
Georgia has joined the PayPal online international payment system, meaning customers can now shop in thousands of online stores securely, without disclosing private financial information. PayPal can be used by customers in Georgia who carry a Visa, MasterCard or American Express credit card issued by banks working in the country.
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State Budget Raised GEL 140 Million through Plea Bargaining
State Budget Raised GEL 140 Million through Plea Bargaining
11 April, 2013
Georgian state enjoyed more than 140 million budgetary incomes in four years through the much trumpeted use of the plea bargaining, largely practiced by ex-power through the Prosecutors’ Office.
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TAV Georgia’s Contract Questioned
TAV Georgia’s Contract Questioned
11 April, 2013
Georgian government is reconsidering the contract terms with TAV Georgia, the Turkish-based operator company of Tbilisi and Batumi International Airports. The new memorandum on investing USD 65 million in the construction of new runway at Tbilisi airport that secured 10 more years of management term to TAV Georgia at both Tbilisi and Batumi airports, is also under renegotiation at the moment.
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GEL Exchange
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1
GBP
2.5862
RUB
100
RUB
5.0041
TRY
1
TRY
0.8364
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1
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USD
1.6609