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Cool hangouts for a hot summer
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Author: By Jennifer Walker
Summer in Tbilisi can reach up to the infernally high 30s and the low 40s, making residents and tourists alike want to hide in the shade until the night cools things down. Yet, even in the evenings Tbilisi’s streets are warm and the air is heavy.
While many choose to escape to the Black Sea beaches or the cool haven of the Caucasus Mountains, Tbilisi still bustles with tourists passing through and locals who can’t get away.
So when the temperature rises, how can we keep our cool in Tbilisi beyond immersing ourselves in a bucket of ice?
In other hot countries around Europe, like Spain or Italy, outdoor cafй culture is a popular pastime for a hot summer day. If you go round Madrid or Rome, you’ll find the streets lined with terraces and shaded tables where you can enjoy a cool beer with a light snack. In Spain especially, the culture of the terraza is synonymous with summer and the streets are alive with people making the most of the hot weather.
So what can Tbilisi offer to match its Mediterranean counterparts? While the city boasts amazing architecture and culture you can’t find in Italy or Spain, at times Tbilisi appears to lack this outdoor cafй culture, but you can still find a few hangouts that offer respite from the midday sun.
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Fitch Ratings upgrades ratings of Liberty bank and VTB Bank Georgia
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Fitch Ratings has upgraded the ratings of Liberty Bank and gave it a viability rating of B from the previous B-. According to the Agency’s press release, the rating upgrade was followed by strengthening of the bank’s capitalization and its good financial performance.
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Telasi’s net profit down in the first half of 2012
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Telasi JSC, a Tbilisi energy distributor, reported a net profit of 11.8 million lari for the first six- month of 2012, down 33.4% from last year.
In the reported period, the company recorded a loss of 26.8 million lari. The income from supplying electricity to household consumers made up 62.4 million lari (- 4.5%), the commercial and industry sector – 51.4 million lari (+16.1%), while the public sector – 9.6 million lari (- 6.1%).
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Turkish Isbank opens branch in Batumi
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Author: By Ia Natsvlishvili
Isbank, Turkey’s largest bank, said they have undergone all the necessary procedures to open a branch in Georgia. According to Zurab Gvasalia, the President of the Association of Banks of Georgia, the National Bank has now been issued a license for the opening of its first branch in Batumi.
Isbank was set up in 1924, and currently has more than 1,200 branch offices in Turkey and around the world including branches in the UK, Bahrain, Ireland and Germany. The bank, having 24, 000 employees, is Turkey’s first public bank and premiere national financial institution, ranked 102nd in the “Top 1,000 World Banks” survey published by the Financial Times’ The Banker.
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Tbilisi and Israel signed new air communication agreement
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A new air communication agreement was signed between Georgia and Israel in Tbilisi on August 6. According to the Georgian Ministry of Economy and Sustainable Development, the new agreement significantly simplifies regulations within the civil aviation sectors of the two countries.
The agreement, in particular will enable Georgian and Israeli air companies to expand flights between countries, improve-service quality and reduce travel prices.
“It will create additional opportunities for other air companies to enter our market, to create competition and more appropriate prices,” Vera Kobalia, Georgian Minister of Economy and Sustainable Development said, adding that “it will also boost tourism between the countries.”
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Rehabilitation of Sairme resort to be completed by 2013
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Author: By Ia Natsvlishvili
The reconstruction and rehabilitation work for Sairme, a balneology and climate/thermal water resort located in Georgia’s Imereti region, will be completed by 2013.
“When the resort is fully completed, the number of holiday-makers is expected to increase. This will bring additional jobs and income to the region,” Vera Kobalia, the Minister of Economy and Sustainable Development, said while visiting Sairme on August 4.
Currently 135 local residents are employed at the resort. However, their number will be significantly increased after the completion of the rehabilitation work.
The resort is located 950 meters above sea-level and 290 km. from Tbilisi. Its basic merits include untouched nature and mild mineral waters that are comprised of a rare chemical composition and quality.
The word Sairme means ‘a place of deer’. According to the legend, deer and wild goats used to come from nearby forests to the resort. They would congregate near mineral water sources. Hence, hunters named the place Sairme. In the 19th century, it became a famous health resort, but started functioning as a balneology and climate resort in the 1930s.
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