The FINANCIAL -- “Of course it is very difficult to change people’s perceptions on a large scale, but we have managed to make Georgian-quality medicines not only popular medically, but also throughout the whole of society,” Gocha Gogilashvili, General Director of PSP, told the FINANCIAL.
Radio Holding Fortuna Will Become More Integrated with the Internet in 2014
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The FINANCIAL -- Radio holding Fortuna has set a new strategy for 2014 - to become more integrated with the internet. The process has already begun and the holding will soon strengthen its online platform for listeners.
The FINANCIAL -- Rehabilitation of the Sheraton Metechi Palace Hotel in Tbilisi is one of the top priorities of RAKIA Group in Georgia and it is planned to start in the near future, Andreas Heidingsfelder, General Manager of the Hotel, told The FINANCIAL. The investment portfolio of the project consists of USD 25 to 30 million. “Rooms, restaurants, modern technologies and additional facilities will perfectly representing the Sheraton brand in future,” said Heidingsfelder.
The FINANCIAL -- Barambo, the largest producer of quality chocolate confectionary products in Georgia, plans to increase its production by introducing new kinds of sweets and expanding its ice-cream production line. The company also plans to implement different projects, including charity ones. This year Barambo will be increasing its PR and marketing activities as well.
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EBRD to step up response to challenges in transition economies
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The FINANCIAL -- The EBRD will hold its 2015 Annual Meeting and Business Forum in Tbilisi, Georgia on 14-15 May, seeking a mandate from shareholders to step up its response to persistent challenges in the transition economies that it serves.
The FINANCIAL -- The Wendy's Company on May 6 reported unaudited results for the first quarter ended March 29, 2015.
The FINANCIAL -- The prolonged crisis in Ukraine that started in November 2013 continues to have a negative impact on the Georgian economy. During 2014 and the first quarter of 2015 the loss to the Georgian economy is estimated to be USD 348,093,100. The major share, or over USD 216 million, has been caused by the reduced number of remittances, export and tourism from Russia. The loss to the economy from Ukraine is worth USD 132 million.
