business-economics
Underground mining operations in Chiatura to be discontinued due to financial losses
Chiatura Management Company (CMC), in agreement with Georgian Manganese, has decided not to resume underground mining operations in Chiatura, citing financial unviability. The decision was announced in an official statement released by the company. ...
Small business tax in construction increases 20-fold from February 1
As of February 1, small business owners in the construction sector will no longer benefit from a preferential tax rate, resulting in a significant tax hike. Under the new regulations, self-employed individuals providing construction services will no ...
Ex-PM Gilauri: “All indicators point to challenging year ahead”
Nika Gilauri, former Prime Minister and a founder and managing partner of the consulting firm Reformatics, expressed concerns about Georgia’s economic outlook during a meeting with business leaders. He stated that the ongoing political crisis in the...
National Bank of Georgia: ”Foreign exchange reserves increase by $324 million, reaching $4.45 billion”
Georgia’s foreign exchange reserves grew by $324 million in December 2024, reaching a total of $4.45 billion, according to the National Bank of Georgia (NBG). Natia Turnava, Acting President of the National Bank, emphasized the importance of buildin...
Georgian business leader calls for release of detainees and new elections
Giorgi Margvelashvili, co-founder of Tbilvino, has called on the ruling party to address the ongoing political crisis in Georgia by releasing detainees and announcing new elections. He made the statement after major business leaders met with Prime Mi...
TBC Bank, Bank of Georgia pledge 5 million GEL to aid citizens, businesses amid protests
TBC Bank and the Bank of Georgia on Thursday announced a joint commitment to allocate five million GEL to support citizens and small and medium-sized enterprises (SMEs) impacted by recent developments in the country. The banks emphasized their share...
FDI in Georgia falls by 55.2% in Q3 2024, Geostat Reports
The volume of foreign direct investments (FDI) in Georgia for the third quarter of 2024 amounted to 197.7 million USD, marking a 55.2% decrease compared to the revised figures for the same period in 2023, the Georgian National Statistics Office said ...
Georgian Manganese suspends operations, thousands of jobs in Georgia impacted
Starting Friday, Georgia’s Chiatura manganese mine and Zestaponi ferroalloy plant will cease operations temporarily, affecting thousands of employees who now face several months of uncertainty. Georgian Manganese, the company holding a 100% stake in ...
Georgia, Seychelles sign air traffic deal at ICAN 2024
Georgia and the Republic of Seychelles have formalized an air traffic agreement at the International Civil Aviation Negotiations (ICAN 2024) in Kuala Lumpur, Malaysia, enhancing prospects for direct flights between the two nations. The agreement was...
Elite Technology founder participates in IRF Europe and Central Asia Congress
From September 24-27, 2024, the IRF’s Europe and Central Asia Congress took place in Bulgaria, focusing on the future of mobility and road infrastructure. Giorgi Mamadashvili, founder of Elite Technology, participated in a panel discussion, sharing ...
