ECONOMICS
Russia’s Rosneft sells its shares in a company owning Gulf gas station chain in Georgia
The Russian state-owned gas and oil company Rosneft has sold 49% of its shares in Petrocas Energy Group that owns the Gulf gas station chain in Georgia and operates an oil terminal in the country’s Poti port. The Petrocas Energy Group has report...
PM vows regular operations in Borjomi as “gov’t becomes shareholder” along with Russian oligarch
The Government of Georgia will become a shareholder of Borjomi mineral waters which will solve existing problems in the operations and the ongoing strike of its employees, Prime Minister of Georgia Irakli Garibashvili said on Monday. He noted tha...
Striking employees of Borjomi block entracles of both plants, say company has plans to “punish” them
Up to 400 striking workers of IDS Borjomi blocked entrances of both bottling plants of the mineral water on Monday, demanding payment of their salaries, reinstatement of 50 “illegally fired employees” and humane working conditions. They claimed tha...
Georgia’s annual inflation rate hits 13.3%
In May 2022 the Consumer Price Index increased by 1.1 percent compared to the previous month, while the annual inflation rate amounted to 13.3 percent, the National Statistics Office of Georgia said on Friday. The agency said that the monthly in...
Main source of incomes for Georgian households are cash incomes, transfers – Geostat
In 2021 the average monthly incomes (cash and non-cash inflows) of the population in Georgia amounted to 1 360.2 million GEL, which is 13.9 percent increase compared to 2020, the National Statistics Office of Georgia (Geostat) said on Wednesday, stat...
PM Garibashvili discusses prospects for opening IT, Service Delivery Centre in Georgia with Salesforce
Opportunities for opening an IT and Service Delivery Centre in Georgia, as well as “favourable investment climate existing in the country” have been discussed between Georgian PM Irakli Garibashvili and Amy Weaver, CEO of Salesforce, the largest comp...
Russian sanctioned businessman ready to hand part of shares in Borjomi mineral water to Georgian gov’t
Alpha Group of a sanctioned Russian oligarch Mikhail Fridman, which is a key stakeholder in the Georgian mineral water producer Borjomi, is ready to hand a part of shares to the Georgian government for a local IDS Borjomi to resume operations and th...
Economy minister: surge in fuel prices in Georgia not in line with int’l market
A study of the fuel market by the Georgian Competition Agency has found that the effect of rising fuel prices on the local market was not in line with rising fuel prices on the international market, Minister of Economy and Sustainable Development of ...
Annual inflation rate hits 12.8% in Georgia, prices for food, transport, utilities surge
In April 2022 the Consumer Price Index increased by 1.8 percent compared to the previous month, while the annual inflation rate amounted to 12.8 percent, the National Statistics Office of Georgia (Geostat) said on Tuesday. The agency says that t...
Georgian mineral water Borjomi bottling plants temporarily shut due to sanctions on Russia
Both bottling plants of the Georgian mineral water Borjomi have been temporarily shut down due to sanctions imposed on Russia,as Russian billionaire, businessman Mikhail Fridman, whose Alfa Group has had a controlling stake in the company since 2013,...
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