The COMMERCIAL TIMES
General Manager of the Radisson Blu Iveria: “Yes I Can” is our philosophy and our way of doing business – it changes the dynamics of everything we do.
Since April 17, one of the prominent hotels in Georgia, Radisson Blu Iveria, has a new General Manager – Mr. Michael Jacobi. Mr. Jacobi has a profound background in the hospitality industry, having worked for various international hotel companies in Germany, USA, Ireland, Qatar, Kuwait and Oman over the past 19 years. For the last 6 ½ years he lived …

Vice President Banking of BSTDB: “Black Sea Region has been performing better than many other regions”
The COMMERCIAL TIMES
The Black Sea Trade and Development Bank (BSTDB) made available a revolving trade finance facility in the amount of up to USD 5 million to KSB Bank. The official loan agreement was signed on May 8, 2012 in Radisson Blu Iveria hotel by the representatives of KSB Bank and BSTDB. KSB Bank will advance short-term sub-loans to Georgian exporting and importing companies.
The operation implements the BSTDB strategy to support Georgian export potential and …

The COMMERCIAL TIMES
The European Investment Bank (EIB) supports upgrade of road infrastructure in Georgia with EUR 170 million. EIB provides a large-scale loan to upgrade and rehabilitate the East-West highway, which is a priority transport infrastructure linking Georgia’s capital city Tbilisi and its Black Sea ports with Turkey and Azerbaijan.
This is the largest EIB loan ever granted to Georgia and the first EIB loan supporting Georgia’s transport sector. The loan will finance the construction of 52 km of new motorway between Samtredia and Grigoleti at the most Western …

The COMMERCIAL TIMES
Parliament of Georgia is holding sessions around the new amendments to the Tax Code. The main goal of the changes, initiated by the Georgian government is to create further simplified environment for businesses. The COMMERCIAL TIMES interviewed Rusudan Kemularia, Deputy Minister of Finance of Georgia, regarding the tax code amendments, expected to be approved in the coming weeks.
- New amendments to the Tax Code were prepared together with the local business sector. Could you please name the initiatives that were suggested by businessmen?
- Almost all the initiatives are …

Top executives at JPMorgan Chase are expected to resign this week following $2bn (£1.2bn) of losses at the bank’s London trading desk, reports suggest.
They include chief investment officer Ina Drew, the New York Times said. Two other high-ranking executives are also set to leave, according to US media.
On Sunday, JPMorgan boss Jamie Dimon said he was “dead wrong” to dismiss concerns about trading at the bank.
Mr Dimon had previously rejected Ms Drew’s resignation, the reports said.
Ms Drew, one of the bank’s longest-standing and best-paid executives, had offered to resign a …