Category: Business

TBC Bank, a leading financial institution in Georgia, has been honored with the prestigious title of Best Digital Bank in Georgia by Euromoney. This accolade recognizes TBC Bank’s significant advancements in digital banking services and its commitment to providing innovative solutions for its customers. The award highlights the bank’s efforts to enhance customer experience through technology, solidifying its position as a market leader in the Georgian banking sector. Recognition of…

In a significant boost to Georgia’s tourism sector, 324 new hotels are set to be built across the country between 2024 and 2028. This ambitious project, spearheaded by the National Tourism Administration, aims to enhance Georgia’s appeal as a top travel destination. The new hotels will add a total of 18,778 rooms and 37,101 places, including 22 international brands. This development is expected to create numerous job opportunities and stimulate…

Red Wings Airlines has announced plans to increase the prices of its avia tickets in response to rising operational costs. The airline, which served 2.7 million passengers last year, aims to boost its traffic by 5% this year, reaching up to 3 million passengers. However, the increasing costs of airport taxes, fuel, and aircraft spare parts have necessitated a review of ticket prices. The final decision on the price hike…

Nestled near the picturesque Lisi Lake, Lisi Event Hall has quickly become a standout venue in Tbilisi. Just a 15-minute drive from the city center, this hall offers breathtaking views of the capital and has hosted numerous large-scale events since its inception. Combining European and Georgian traditional styles, Lisi Event Hall is renowned for its unique approach to event planning, ensuring each occasion is distinct and memorable. A Versatile Space…

Global Auto Import has recently inaugurated a new branch in Batumi, marking a significant expansion of its services. The opening ceremony, held on July 6th, was attended by key industry figures and local dignitaries. This new branch aims to provide high-quality auto import services, including the purchase and transportation of vehicles from various international ports. The move is expected to enhance the accessibility and convenience of auto import services for…

Natia Turnava, Acting Governor of the National Bank of Georgia, recently participated in the International Association of Deposit Insurers (IADI) conference. The event, attended by industry representatives and experts from various countries, focused on the benefits of deposit insurance systems and their role in financial stability. Turnava emphasized Georgia’s significant progress in developing an efficient deposit insurance system over the past decade, highlighting its importance in managing financial stress, protecting…

In a significant development for Georgia’s business tourism sector, Heri Kashema, the Commercial Director of m&i, expressed immense pride in hosting the MI Tbilisi 2024 Forum in Tbilisi. Organized by the Georgian National Tourism Administration, this international business tourism forum aims to showcase Georgia’s potential as a premier destination for meetings, incentives, conferences, and exhibitions (MICE). The event brings together industry leaders, potential clients, and service providers from around the…

Archi, a leading development company, recently took part in the 2024 SelectUSA Investment Summit held in Washington, D.C. The summit, organized by the U.S. government, aims to promote foreign direct investment in the United States. Archi’s participation underscores its commitment to expanding its presence in the U.S. market. The company’s General Director, Shio Khetsuriani, and the head of Archi Miami, Giga Akhirtava, represented Archi at the event. This participation marks…

FutureLab, a Georgian venture fund and accelerator, is offering a unique opportunity for innovative Georgian startups to create technological products or services for the US market. This initiative aims to support and fund Georgian teams with groundbreaking ideas, providing them with the resources and guidance needed to succeed. The project is spearheaded by Irakli Kashibadze, the founder of FutureLab, who has a long history of fostering innovation and technology in…

In a high-stakes financial maneuver, the Ras Al Khaimah Investment Authority (RAKIA) has attempted to switch ownership of its Georgian subsidiary’s prized asset—the Sheraton Grand Tbilisi Metechi Palace Hotel—in an apparent effort to avoid enforcement action. The hotel, managed by the Marriott Group, has become the center of attention as RAKIA grapples with financial challenges. The Ras Al Khaimah Investment Authority (RAKIA) faces financial turmoil, leading to an ownership shuffle…