Business Roundup
Prepared by Christina Tashkevich
Friday, April 18
Georgian–Russian post links to resume April 21
The Ministry of Economic Development reported on April 17 that post links between Georgia and Russia are to resume on April 21.
Russia cut post links with Georgia in October 2006 after a spy row between the two countries.
Russian and Georgian postal services signed an agreement to resume connections on April 16, according to the Economic Development Ministry.
In March flights between the two resumed after Georgian airline companies paid outstanding debts to the Russian state navigation service.
Baltika eyes Georgian beer market
Russian beer company Baltika says it sees major potential in the Georgian beer market.
“We have been investing up to USD 1.5 million in Georgia during the last five years and we don’t plan to stop,” Baltika’s export sales director Dmitri Kostev said in Tbilisi.
Baltika’s sales in 2007 increased by 85 percent compared 2006 figures.
The company is one of leaders in the Russian beer market, owning 11 breweries and accounting for around 70 percent of Russian beer exports.
HSBC promises floating interest mortgages to Georgian customers
HSBC CEO in Georgia Anthony Turner told the American Chamber of Commerce (AmCham) that the bank will offer Georgian customers floating interest mortgages when it opens offices in Georgia in June.
He also said at the AmCham roundtable on April 16 that HSBC Georgia plans to offer low interest loans up to 12 percent.
HSBC was named a top company of 2008 by Forbes magazine.
Business and Economics Center receives funding for next phase of development
BP has signed a three-year, USD 240 000 agreement with the International Association of Business and Parliament to continue providing support to the Business and Economic Center at the Parliament of Georgia.
The center aims to help improve the business climate in the country through transparent and effective dialogue between Georgian businesses, parliament and the government.
BTA SilkRoadBank opens Poti branch
BTA SilkRoadBank opened a Poti branch on April 15.
In 2007 the initial capital of the bank has increased to GEL 18 million.
The bank officials said the company is currently working on rebranding, changing its symbols, and offering more banking services.
The Ministry of Economic Development reported on April 17 that post links between Georgia and Russia are to resume on April 21.
Russia cut post links with Georgia in October 2006 after a spy row between the two countries.
Russian and Georgian postal services signed an agreement to resume connections on April 16, according to the Economic Development Ministry.
In March flights between the two resumed after Georgian airline companies paid outstanding debts to the Russian state navigation service.
Baltika eyes Georgian beer market
Russian beer company Baltika says it sees major potential in the Georgian beer market.
“We have been investing up to USD 1.5 million in Georgia during the last five years and we don’t plan to stop,” Baltika’s export sales director Dmitri Kostev said in Tbilisi.
Baltika’s sales in 2007 increased by 85 percent compared 2006 figures.
The company is one of leaders in the Russian beer market, owning 11 breweries and accounting for around 70 percent of Russian beer exports.
HSBC promises floating interest mortgages to Georgian customers
HSBC CEO in Georgia Anthony Turner told the American Chamber of Commerce (AmCham) that the bank will offer Georgian customers floating interest mortgages when it opens offices in Georgia in June.
He also said at the AmCham roundtable on April 16 that HSBC Georgia plans to offer low interest loans up to 12 percent.
HSBC was named a top company of 2008 by Forbes magazine.
Business and Economics Center receives funding for next phase of development
BP has signed a three-year, USD 240 000 agreement with the International Association of Business and Parliament to continue providing support to the Business and Economic Center at the Parliament of Georgia.
The center aims to help improve the business climate in the country through transparent and effective dialogue between Georgian businesses, parliament and the government.
BTA SilkRoadBank opens Poti branch
BTA SilkRoadBank opened a Poti branch on April 15.
In 2007 the initial capital of the bank has increased to GEL 18 million.
The bank officials said the company is currently working on rebranding, changing its symbols, and offering more banking services.