Sport Cloths for Nike, New Balance, Under Armor, Puma and Lotto to be Sewed in Poti

access_time2017-09-25 12:03:46

According to the financial director of Adjara Textile company Gia Lominadze, the plant will open in October and will employ 3 000 people while at the first stage the number of employees will be 500.

 

A process of retraining of personnel, who will work at the enterprise, is currently underway.

 

"We focus on training local personnel for the enterprise in which  Turkish specialists are involved. We have already achieved certain results at our enterprises in other regions, where we managed to increase the share of local citizens to almost 100% of the total personnel of the enterprise," he says.

 

$ 15 million was invested in the construction of the enterprise. The cloths produced at the plant will be meant for 100% export.

 



Singapore Will Stop Increasing Car Numbers From February 2018

person access_time2017-10-24 08:13:36
Singapore, among the world’s most expensive places to own a vehicle, will stop increasing the total number of cars on its roads next year. The government will cut the annual growth rate for cars and motorcycles to zero from 0.25 percent starting in February, the transport regulator said on Monday. Smaller than New York City, land in Singapore is a precious commodity and officials want to ensure the most productive use of the remaining space. Its infrastructure is among...

Silk Tower to be Built in Batumi

person access_time2017-10-24 08:07:30
 Silk Tower is set  to be built in Georgia. The project is planned to be carried out by Silk Road Group - the head of the company, Giorgi Ramishvili, said in an interview with CNBC. "We have suspended cooperation with Trump organization on the implementation of the Trump Tower project in Batumi. We are starting a new project. The new Tower will be  of the same concept as  Trump Tower  just  with another inscription. We have already signed the...

Kakha Kaladze: "City Hall should be a Flexible Structure with less Bureaucracy"

person access_time2017-10-23 16:13:32
According to Kakha Kaladze, Tbilisi mayoral candidate, the City Hall should be a flexible structure with less bureaucracy. This is the issue that the businessmen asked in the framework of the "Commersant" project advised a future Tbilisi mayor to solve. Kakha Kaladze talked about future plans with "Imedi Week" and said that the main thing for him is less bureaucracy. The City Hall should be a flexible structure which should  serve the residents  of our city with  less...

Fitch: The control change may help the bank to diversify its funding base

person access_time2017-10-23 13:15:14
The recent announcement on changes in its controlling shareholder by Georgia's JSC Liberty Bank should be neutral for the bank's ratings, - Fitch Ratings says. According to rating agency, 74.64% of LB's voting ordinary shares came under the control of Netherlands-based EFG. The change in its controlling shareholder to European Financial Group B.V. (EFG) should be neutral for the bank's ratings LB, B+/Stable/b+). The agency notes, that the ultimate beneficiaries are three...

Toll Motorways may Appear in Georgia

person access_time2017-10-23 12:56:04
According to the head of the  road department Giorgi Seturidze, a special group is currently working on this issue. A payment for the use of motorways of the country was discussed a few years ago on the initiative of the then Minister of Finance Nodar Khaduri. However, no concrete decision has been taken. Currently, the head of the Road Department notes, a study is being conducted to  show which of the highway sections are most suitable for becoming paid. "At...

Demand for Real Estate Outside the City Grows

person access_time2017-10-23 12:46:39
The overloaded traffic, overcrowding and bad ecology are the main reasons that prompt many residents of Tbilisi to move to settlements around the capital. Realtors talks about  the growing demand for real estate in the villages near Tbilisi that  ranges within 5- 30%. They are  small summer colonies  near the capital, and  some of them are administratively part of Tbilisi. Realtors say that  the main reason for growing  demand is the...

Inflation Targeting is an Outdated Method

person access_time2017-10-23 12:23:31
An interview with a former Economy Minister Lado Papava Today inflation in Georgia reaches 6, 2% with a target of 4%. By  the end of the year it might further grow. What should be done to get closer the real and target inflation rates? There are many questions about the inflation targeting policy and its target level, as more and more international studies show that this practice has outlived itself. Nobel laureate Joseph Stiglitz expressed the...

Banks earned 631 million in 9 months - "The figure which is illogical for any developed country"

person access_time2017-10-23 07:54:16
  In September, net profit of commercial banks increased by  GEL 70.7 million. In January-September, the net profit of banks amounted to  GEL 631 815 000, which is GEL  147,538 000 more  compared to the January-September of 2016. In the same period last year , net profit of commercial banks amounted to GEL 484 277 000 which means that profits grew by 30%. At the same time, commercial banks' income made GEL 3,1 billion in September that is 374 million...

The Next Project of Wissol Group and Carrefour

person access_time2017-10-20 16:27:16
Within the framework of the strategic partnership signed between Wissol Group and Carrefour, Wissol Group's subsidiary MP Development opened another supermarket in the shopping center "Carrefour"  in  Vazisubani  district.  Apart from "Carrefour", several other retail outlets are also located in the shopping center. "Development of commercial real estate is one of the priority directions for our group. We own some shopping centers, where Carrefour is  our main...

Who and How Finances the Local Elections in Georgia?

person access_time2017-10-20 16:12:55
Georgian companies allocated   GEL 2 044 143 for local elections, - says they NGO Transparency International Georgia. According to the NGO, 32 legal entities made donations, the largest 7 companies donated GEL 120 000 to "Georgian Dream", namelt,  Ltd "GMP", Ltd, "Kakhetian Traditional Winemaking" Ltd, "LION", "Tegeta Motors", "Deti", "Partner" and "Meek". It is worth mentioning that the first three companies paid exactly the same amount to "Georgian Dream" in...


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