Georgian company TBC Bank has enjoyed a considerable year-on-year jump in its pretax profit in the 2 quarters of 2018. During the first half of the year TBC’s profit amounted to GEL 239.5 million ($92.8 million). Compared to the first half of last year, TBC Bank reports a GEL 48.1 million ($18.6) increase. Over the…
Georgia is increasing its role as an important trade partner for the European Union (EU), the Commonwealth of Independent States (CIS) and other countries. In January-July trade turnover with EU countries increased by 25.6% YoY, to $1.95 billion, and with CIS countries by 33.5%, to $2.38 billion, says the National Statistics Office of Georgia (Geostat).…
Georgian Ambassador to Tehran Ioseb Chakhvashvili said Tbilisi was willing to increase its economic cooperation with Iran and looked forward to win-win trade with the Islamic Republic. “Given the existing potential between the two countries, we are seeking win-win cooperation with Iran,” Chakhvashvili said during a meeting in Tehran. He added that Iranian investors could…
Georgia’s monthly inflation rate amounted to -0.3% in July, while annual inflation from July 2017 to July 2018 amounted to 2.8%, reports the National Statistics Office of Georgia (Geostat). Last month prices of food and non-alcoholic beverages decreased by 1.1%. Prices decreased for: fruit and grapes (-12.6%) and vegetables (-10.7%). In the meantime, the prices…
It is planned to open direct flights from Bishkek to Tbilisi, the Prime Minister of Georgia Mamuka Bakhtadze made such an offer during a meeting with his Kyrgyz counterpart Mukhammedkaly Abylgaziev. According to him, Georgia is ready to exchange experience in the implementation of the Open Skies project. He noted the importance of strengthening cooperation…
Georgian wine variety Saperavi Khashmi has been added to the list of protected Georgian appellation wines. “This decision indicates the diversity of Georgian wine and its varietal richness, which is especially important in terms of the popularization of Georgian wine and the growth of export potential”, read the press release published by the Georgian National…
Georgia exported 38.2 million bottles of wine to 48 countries in the first six months of 2018, announces the Georgian National Wine Agency. In January-June Georgia generated about $90.3 million from the sale of wine abroad. Revenue increased by 28% YoY, while the volume of exports increased by 21%, said the Georgian National Wine Agency.…