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Bank Republic offers special summer renovation loan
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Author: By Ia Natsvlishvili
Summer, the best time for renovating or changing your home’s interior, is drawing nearer. Bank Republic JSC, a member and subsidiary of International Societe Generale Group, is offering a new type of loan called the renovation loan. Bank Republic promises that this opportunity can make renovation a fast, simple and enjoyable process.
Those interested in this new loan will need to come to Bank Republic where loan officers will help them to choose the type of renovation loan suitable to their needs. “This is our new strategy and it is oriented on our customers, we [aim to] satisfy all of our clients,” Eka Toroshelidze, Director of the Department of Marketing, PR and Branding of Bank Republic said.
According to Toroshelidze, for those customers who only need up to 5,000 lari for renovation, the bank offers instant loans without any collateral and can offer the loan in one-hour. In addition, Bank Republic offers other encouraging incentives: all clients who use the renovation loan will also enjoy a 10-25 percent discount for furniture and accessories, renovation materials, lighting systems, and electrical equipment through Bank Republic’s 60 partner shops.
“This is a very unique opportunity, because a client can buy this equipment or materials for very convenient and suitable prices,” Toroshelidze said.
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Government plans to create ‘Financial Zone’ in Adjara
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Author: By Tamar Khurstia
President of Georgia, Mikheil Saakashvili came to Adjara with the goal of establishing a special financial zone. The president also plans on adopting legislation that would create a liberal financial system in Gonio, which is located on the Black Sea coast of Adjara, 15 km to the south of Batumi. In this zone, it is expected that they will erect 40, 50 and 60 story buildings.
Beyond Gonio there will be a huge financial zone with separate laws and full freedom of financial transactions, Saakashvili said at a meeting with a group of students from a local university in Batumi on May 4.
According to Saakashvili, the special ‘financial zone’ will create a huge industry for Batumi, Adjara and for the rest of Georgia. “I think it will take ten more years to put this zone in full operation; you will soon see buildings, and offices will spread like mushrooms there,” Saakashvili noted.
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Natakhtari offers new lottery with big prizes
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Author: By Ia Natsvlishvili
From May 7 to July 7, beer lovers who purchase Natakhtari beer will get a chance to win either money in various amounts, including the grand prize of 50,000 lari or four tickets to the final game of the Euro 2012 which will be held in Kiev.
According to Tornike Nikolaishvili, the Marketing Director of Natakhtari, the brewery, one of the leaders on the local market, has launched its fourth lottery. Apart from the top prize, the regular prizes include cash prizes ranging from 10 to 200 lari.
In addition, 300, 000 bottles of beer will be placed in the lottery. The four winning tickets for the football game will include travel, hotel and daily expenses.
“This time we have created a very interesting innovation, we not only offer our customers not prize money, but to get it in the quickest possible way,” Nikolaishvili said at a press conference on May 9. He also explained that if a consumer buys a Natakhtari beer in a plastic bottle, which happens to be a winning one, he or she will find a capsule in the cap of the bottle with the banknote on it.
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Populi focuses on minimarket store format
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Author: By Ana Sabanadze
Populi, the Georgian retail network that provides grocery and household products to consumers, announced that the company has changed its strategy, turning its focus to the minimarket store format which would benefit from their location and convenience.
According to Teodora Ticeric, the newly-appointed CEO of Populi, the majority of the company’s stores are in the convenience format, which encompass about 200 sqm of shopping space, and focus on foot traffic in downtown and residential areas.
“It’s quite challenging to focus on different formats at the same time from a single management structure. Most of the companies who foster multiple formats usually keep them under different brands and separate companies or management teams,” Ticeric said at a press conference while hosting local media representatives at the company’s head office on May 3.
As she explained, large stores benefit from weekly shopping of consumers who usually come to the store with a shopping list, often in a car and with a large budget to spend, while the smaller formats advantages are location, convenience or daily needs, for example the instant consumption of food and drinks.
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The New Wine Festival at the ethnographic museum
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On May 12, the ethnographic museum will host the New Wine Festival, which will be held for the third time this year under the patronage of Tbilisi City Hall. According to the organizers, almost all large wine companies and small wine cellars participate in the Festival, and bulk of family wines will be demonstrated from different regions of Georgia.
The Wine Club has made a special selection of the best family wines by degustation. At the Festival, the large companies, small cellars and families will demonstrate the wines made with famous and rare Georgian vine species. Rkatsiteli, Saperavi, Mtsvane Kakhuri, Tsitska, Tsolikouri, Chinuri, Shavkapito, Tavkveri, Krakhuna, Aleksandreuli, Chkhaveri, Usakhelouri, Khikhvi, Kisi, Aladasturi, Otskhanuri Sapere, Dzelshavi, Mujuretuli, Ojaleshi, Kundza, Grdzelmtevana, Chumuta, Chitiskvertskha - this is an incomplete list of wines to be found only at the Festival.
The tradition of new wine festivals survives in every country worldwide famous for wine-making. As for Georgia, the festival was first held in 2010 on the initiative of Wine Club and hosted thousands of wine gourmets, including many foreign tourists and wine professionals. It has been a tradition since then to hold the New Wine Festival on the second Saturday in every May.
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Aldagi BCI acquires controlling interest in Imedi L
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Author: By Tamar Khurtsia
Aldagi BCI, one of Georgia’s leading insurers and a wholly-owned insurance subsidiary of the Bank of Georgia, agreed to buy a 85% stake in Imedi L for 8 million lari, the third largest insurance business in Georgia.
Nika Gamkrelidze, the General Manager of Aldagi BCI announced that the company acquired Meta Limited, the holding company that owns a 51% share of Imedi L. The company also bought 34% equity stake in Imedi L from the European Bank for Reconstruction and Development (EBRD), bringing its total ownership of the company to 85%.
As Gamkrelidze said, the company believes that the partnership would create one of the strongest insurance companies in the market and that will ensure the delivery of stable and high quality service to the customers.
“We will continue to work towards creating the best value for all our stakeholders, especially for our employees and our customers in the country,” Gamkrelidze noted at the press conference in Tbilisi on May 4.
Moreover, Aldagi BCI agreed to inject around 32.5 million lari into Aldagi BCI to provide Imedi L with sufficient capital to meet its existing hospital construction obligations and is well- capitalized for its expected future growth.
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