A new metro station to open on October 16

access_time2017-10-12 11:54:09

The new metro station University will open on October 16. Minister of Regional Development and Infrastructure Zurab Alavidze states. According to him, operational testing stage  is completed.

A Spanish company has been chosen to build a new metro station in Tbilisi’s Saburtalo district. The new metro stop will be called University Station, and will be located near Tbilisi State University’s Maglivi X building after the Vazha Pshavela metro station (currently the last station on the Saburtalo line).  

The cost of the new metro station is estimated at $ 83 million. The project is funded largely by the Asian Development Bank (ADB) with some assistance coming from the MDF.

Once completed, University Station will bring Tbilisi’s total metro stations to 23.



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...

Construction of a Cascade of Hydroelectric Power Stations Begins in Eastern Georgia

person access_time2017-10-20 15:54:53
In Eastern Georgia, in the Kakheti region, the construction of a cascade of hydroelectric power stations begins, the executive director of the Feri company Lasha Iordanishvili told Commersant. According to him, the project will be carried out  in the Pankisi Gorge, where two HPPs with a capacity of 30 megawatts will be built. The company will get  a final construction permit in the coming days, after which construction work will begin. The construction was scheduled...

Ministry of Finance: Georgia's External Debt will Shrink

person access_time2017-10-20 12:19:05
"Against the backdrop of large-scale infrastructural projects implemented in Georgia with the funds of international donors, the state external debt in 2020-2021 will remain below 45% in relation to GDP. In the long term, according to the International Monetary Fund's calculation methodology, in 2024 the debt may decrease to 37%, "Georgian Deputy Finance Minister Nikoloz Gagua says.   According to him, the government does not finance current expenses by taking debts, and...


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