The National Bank of Georgia has set a new exchange rate. As a result of trading on September 11, the US dollar depreciated to 2.6234 lari. Today's rate was 2.6251 lari. Accordingly, the change in the dollar exchange rate against the national currency amounted to 0.0017 lari.
Prime Minister Irakli Gharibashvili announced in a recent government meeting that Telavi will be the site of a new state-of-the-art airport. Slated to commence its construction and design phases this year, the "Mimino" Airport aims to welcome its inaugural flight of passengers in May or June of 2024. The project has received a financial allocation of 25-30 million GEL.
After three years of diligent efforts, Bio "Bostanii," Georgia's first bio-certified greenhouse, has achieved a significant milestone. The company recently obtained the prestigious "Caucascert" bio-certificate, positioning it for potential exports to European and American markets. Beka Barjadze, the founder of Bio "Bostani," spoke with Business Partner to discuss the journey and the challenges ahead.
The Vice Prime Minister and Minister of Economy and Sustainable Development, Levan Davitashvili, announced a substantial investment of ₾85 million in the Kutaisi International Airport.
Three Georgian companies—Bank of Georgia, TBS Bank, and Georgian Capital—are making their presence felt on the London Stock Exchange with significant gains in share prices over the past week.
Georgian Railways has initiated a competitive tender with a budget of 54.9 million GEL to acquire 300 state-of-the-art freight wagons. The tender specifies that each wagon, priced at 183,000 GEL, must be manufactured within the year 2023.
In an unprecedented surge, Georgia has set a new record in electricity exports for the first seven months of 2023. According to official data, the country exported a total of 1,140.7 million kWh from January to July. This signifies a substantial uptick from the annual figure of 971.1 million kWh recorded in 2022.
The National Bank of Georgia has set a new exchange rate. As a result of trading on August 21, the US dollar depreciated and amounted to 2.6192 lari. Today's exchange rate was 2.6219 GEL.
The National Bank of Georgia has set a new exchange rate.
The National Bank of Georgia has set a new exchange rate. As a result of trading on August 14, the US dollar depreciated and amounted to 2.6186 lari. The current exchange rate was 2.6211 GEL.
The National Bank of Georgia has set a new exchange rate. As a result of trading on August 8, the US dollar strengthened and amounted to 2.6136 lari. Today's exchange rate was 2.6106 GEL.
Beginning August 1, the export and re-export of American vehicles from Georgia to Russia has been banned, according to the revenue service of the Ministry of Finance.
As per the preliminary estimates from Geostat, Georgia's economy experienced significant growth in June 2023, with the real Gross Domestic Product (GDP) expanding by 7.7 percent compared to the same period last year. The average GDP growth rate for the first half of 2023 stands at 7.6 percent.
With backing from the USAID Economic Governance Program, the Georgian Financial Market Treasury Association (GFMTA) is spearheading a money market study. This research will identify the needs of companies, paving the way for the development of a relevant toolkit for joining international organizations, thereby enhancing Georgia's visibility on the global investment map.
The National Bank of Georgia has set a new exchange rate. As a result of trading on July 11, the US dollar depreciated and amounted to 2.5870 lari. The current exchange rate was 2.5894 GEL.
The National Bank of Georgia has set a new exchange rate. As a result of trading on July 12, the US dollar depreciated and amounted to 2.5834 lari. Today's rate was 2.5870 GEL.
On June 27, the association "Anika" launched the project "Assistive Technologies for the Independent Life of Disabled People" in Georgia, providing new employment opportunities for individuals with disabilities through modern technologies. The program aims to increase their independence and promote their integration into the workforce.
MediclubGeorgia has set a new precedent in orthopedics and healthcare in Eastern Europe and Transcaucasia. It is the first medical facility in these regions, including Georgia, to implement the ground-breaking PERSONA System for total knee replacement surgeries.
The Georgia-based TBC Bank is set to scale up its commitment to sustainable lending with an ambitious target of reaching 1 billion GEL in their portfolio this year, according to CEO Vakhtang Butskhrikidze.
The National Bank of Georgia has given the green light to Peysera Bank Georgia JSC to commence its customer services in earnest, effective June 15, 2023. The digitally licensed bank successfully completed its trial phase, thus marking a significant milestone in the digital banking landscape of Georgia.
In an effort to streamline the procurement process and expand public access to innovative pharmaceuticals, the Georgian government has proposed that the state purchase next-generation medicines directly from manufacturers.
The National Bank of Georgia has set a new exchange rate. As a result of trades on May 19, the US dollar strengthened and amounted to 2.5340 lari. Today's exchange rate was 2.5310 GEL.
The National Bank of Georgia has set a new exchange rate. As a result of trading on May 11, the US dollar strengthened and amounted to 2.5458 lari. Today's exchange rate was 2.5294 GEL.
Amid high inflation and increased pressure on the banking sector, there are fewer opportunities for long-term consumer loans. According to experts, the regulator has acknowledged the possibility of reducing the refinancing rate, but is not in a hurry, despite the market's concerns about the dangers of deflationary fluctuations.
The National Bank of Georgia has actively purchased foreign exchange reserves, leading to a historical maximum of $5.1 billion in reserves. The NBG alone withdrew $460 million from the market in the first quarter of the year, prompting the National Bank to purchase reserves in response.