The National Bank of Georgia has set a new exchange rate. As a result of trading on January 20, the US dollar strengthened and reached 2.8452 lari. The rate that was in effect today was 2.8412 lari.

Chairman of the Georgian National Energy and Water Supply Regulatory Commission, Davit Narmania, has shared a post on social media regarding key trends in the energy sector:

A recent study by Galt & Taggart forecasts an 8% annual growth in revenue for Georgia’s FMCG (Fast-Moving Consumer Goods) sector between 2025 and 2028, with market size expected to reach 31.7 billion GEL by the end of the period. The study attributes this growth primarily to increased purchasing power among the population.

The National Bank of Georgia (NBG) has expressed concerns over rising international food and transportation costs, warning that these trends could exacerbate inflationary pressures in the local market. This announcement accompanied the NBG’s decision to maintain the refinancing rate at 8%, a move aimed at balancing inflation risks with sustained economic growth.

The Georgian Pension Agency has invested 150 million GEL in bonds issued by the European Bank for Reconstruction and Development (EBRD) under its Global Medium Term Bonds (GMTN) program. This five-year bond has a floating interest rate, aligning with the agency’s goal of enhancing portfolio quality and asset diversification.

The National Bank of Georgia has set a new exchange rate. As a result of trading on November 8, the U.S. dollar depreciated and now stands at 2.7247 lari. The rate that was in effect today was 2.7328 lari.

An accident occurred in Zestafoni (Western Georgia).

On October 23, at the currency auction held by the National Bank of Georgia (NBG), the NBG sold 60,000,000 US dollars. The weighted average exchange rate was 2.7139. This information was released by the National Bank.

The National Bank of Georgia has set a new exchange rate. As a result of trading on October 22, the US dollar strengthened and is now worth 2.7262 lari. The exchange rate in effect today was 2.7207 lari.

The National Bank of Georgia has established a new exchange rate. As a result of trading on October 18, the US dollar depreciated and is now worth 2.7157 lari. The exchange rate in effect today was 2.7171 lari.

Teldor, a new fungicide developed by BAYER, represents a breakthrough in crop protection with its innovative mode of action. Thanks to its low toxicity and excellent environmental profile, Teldor has easily passed registration, even in countries with stringent regulatory standards, including the USA.

In the second quarter of 2024, the unemployment rate in Georgia decreased by 3.1 percentage points compared to the same period the previous year, reaching 13.7%, according to data released by "Geostat."

Greek airline Sky Express will begin regular flights from Athens to Tbilisi on November 6.

Mariam Kvrivishvili, Deputy Minister of Economy, announced the launch of a new resort development in Racha, Georgia, starting with the selection of Mravaldzali. This initiative, prompted by the Prime Minister of Georgia, aims to boost tourist traffic, generate employment, and enhance the economic landscape of the region.

The Bank of Georgia has been recognized as a leader in digital banking, winning in 45 categories at the prestigious Best Digital Bank Awards by the international publication, Global Finance. This acknowledgment highlights the bank’s innovative strides in the digital banking sector.     

Minister of Environment Protection and Agriculture, Otar Shamugia, announced a record $26 million in blueberry exports this year. The announcement came during a meeting with the Blueberry Producers Association and European exporters, where the minister detailed the contributions of the "Implant the Future" program.

On July 1, the first transaction occurred on the Georgian Energy Exchange. According to the exchange's information, a total of 1,022 megawatt-hours (MWh) of electricity were traded, with a weighted average price of 126.43 GEL/MWh.

RMG has unveiled the participants for the 2024 Summer School, marking the sixth iteration of this practical program. This year, the program extends its reach by including students from both the Technical University of Georgia and Tbilisi State University for the first time.

In May, approximately $400 million worth of deposits were converted from Georgian Lari (GEL) to US dollars in Georgian banks, according to a weekly update from TBC Capital's chief economist.

The Director of Asset Management at Georgian Water and Power (GWP), Giga Nadiradze, announced that efforts to address the damage near Tsitsamuri will commence tomorrow.

Today, the National Bank of Georgia intervened in the foreign exchange market, selling $60 million to provide liquidity amid recent volatility.

Over the past four years, through comprehensive mine rehabilitation and enhanced working conditions, the rate of coal extraction has seen significant improvements. By the end of April 2024, coal production successfully reached the milestone of one million tons, marking a new phase of intensive reconstruction.

A 9-kilometer tunnel, part of the Kvesheti-Kobi road project, has been completed, linking the villages of Kvesheti and Kobi. This tunnel, the longest in Georgia, was constructed using a Tunnel Boring Machine (TBM) specifically designed for this project, which minimizes environmental impact and promotes sustainability.

Bank of Georgia Group PLC's banking business subsidiary, JSC Bank of Georgia successfully priced a USD 300 million offering of 9.5% perpetual subordinated callable additional tier 1 notes. The Notes are denominated in USD and are expected to settle on 16 April 2024.

Tbilisi to Welcome New Main Airport in Vaziani, Announces Deputy Minister Mariam Kvirivishvili.