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DAILY NEWS February 24, 2017

THE US CONGRESSMEN VISIT GEORGIA

On February 24-26, delegation of the US Congress pays visit to Georgia, Georgian Parliament announced.

The delegation comprise of congressmen Peter Roskam (Rep., IL), David Price (Dem., NC), Jerry Connolly (Dem., VA) and Adrian Smith (Rep., NE). More...


LEGISLATIVE PACK ON COVERT WIRETAPPING IS ADOPTED IN FIRST READING

At plenary session on February 23, Georgian Parliament approved in first reading the draft bill “On Legal Entity of Public Law – Georgian Operative-Technical Agency”. The project was supported by 89 MPs with 20 votes contra. More...


FINANCE MINISTRY: GEORGIA WILL PRESENT ITS INVESTMENT OPPORTUNITIES AT EBRD ANNUAL MEETING

Finance Ministry announced that Georgia will hold presentation of its investment opportunities at an annual meeting of EBRD, which will take place in May in Cyprus.

Holding of the presentation was discussed today at the meeting of Minister Dimitri Kumsishvili with EBRD regional director in the Caucasus, Moldova and Belarus Bruno Balvanera. More...


INVESTMENT FORUM “VISIT BATUMI/INVEST IN BATUMI” WILL BE HELD IN ASTANA

Kazakh media report that investment forum “Visit Batumi/Invest in Batumi” will be held in Astana on February 27. The event is planned within visit of head of Ajara government Zurab Pataridze to Kazakhstan. More...


DEPUTY ECONOMY MINISTER: “CHECK IN GEORGIA” IN 2017 TO BE FUNDED WITH 4.5M LARI

“Check in Georgia” is “set of cultural, sporting and business events, which main goal is to bring popularity to the country, promoting its recognizability, which will be expressed certainly in growth of international visitors and tourism in future”, Deputy Minister of Economy and Sustainable Development Ketevan Bochorishvili declared.

For these purposes, in 2017, “4.5 million lari are provided, half of which will be is used on local actors, their shows programs and events”, Bochorishvili reported at a press conference today. More...


PROMOTERS OF EVENTS. TO BE HELD ON “BLACK SEA ARENA”, WILL BE SELECTED THROUGH BIDDING

Promoters of events, planned for June-September in Black Sea Arena concert hall, will be selected on the basis through bidding, the Ministry of Economy and Sustainable Development declared.

“Next week, bids invitation will be uploaded on the official page of [Agency of] State Procurements, describing in details, what conditions promoters will have to meet”, director of Black Sea Arena Dimitri Beridze said at the press conference today. More...


TBILISI TO HOST CONFERENCE ON ENERGY REFORMS

A conference, titled “Assistance to Energy Reforms in Georgia in Compliance with Requirements of Energy Union”, will take place in Tbilisi on February 27.

The event is organized by analytical center World Experience for Georgia (WEG) with support of Open Society – Georgia Foundation (OSGF). More...


BECAUSE OF REPAIR OF “ENGURHES”, ELECTRICITY IS IMPORTED FROM ARMENIA

Georgian State Electrosystem reported that because of repair works on EngurHES, electricity was imported during several days from Armenia. The electricity was supplied to part of Tbilisi and Rustavi. More...


VOLUME OF BAD BORROWERS’ PROPERTY, APPEARED IN OWNERSHIP OF MICROFINANCIAL ORGANIZATIONS, INCREASED IN 2016 BY 51.2%

National Bank of Georgia reports that property of bad borrowers, appeared in ownership of microfinancial organizations, amounted as of December 31, 2016 to equivalent of 14.35 million lari. The volume has increased by 8.9% quarter-on-quarter and by 51.2% – year-on-year. More...


SHAREHOLDERS OF “CAUCASUS ENERGY&INFRASTRUCTURE”: FOR THE LAST 2 YEARS, THE COMPANY CAME TO A STANDSTILL

JSC Caucasus Energy&Infrastructure (CEI, construction and investment activity, infrastructure and energy projects) reported that its key shareholders consider that the company “came to a standstill for the last 2 years”.

The company said that 4 key shareholders, owning in sum 93.03% of shares, have agreed that every shareholders can leave the joint-stock company on “reasonable conditions”. More...


ECONOMIC PRESS MONITOR February 24, 2017

Bankebi da Finansebi: “OUT OF TOTAL 27,000 LOANS, 1,525 ONES ARE CONVERTED TO LARI”

Out of 27,000 mortgage loans, taken by private individuals before 2015, 1,525 ones have been converted to lari by now.

Total portfolio of loans, eligible for larization, amounts to $18.5 million, of which 5.6% are converted within the governmental program, subsidized with 65 million lari, the newspaper reports. More...


Tabula: ““UNM” DEMANDS ESTABLISHMENT OF INVESTIGATIVE COMMISSION ON CONTRACT, SIGNED WITH “GAZPROM””

United National Movement (UNM) demands establishment of the Parliament’s investigative commission on the contract, signed by Georgia with Russian Gazprom. The contract envisages receiving of gas transit fee payment in cash from 2018 instead of receiving 10% of transited volume. More...


Rezonansi: ““KHUDONHES” PROJECT STOPPED FOR 2 YEARS AT LEAST”

According to the latest statement of Energy Minister Kakha Kaladze, construction of KhudonHES has to be started this year.

However, the newspaper doubts that the government will annoy Svans before the local elections. More...


SPECIAL REPORT February 17, 2017

REMITTANCES – 2016

In 2016, compared to 2015:

- The volume of remittances increased by 6.6% and amounted to 1.1 bln USD;

- Remittances from Russia, the leading source country, makes up 34.3% of total remittances, a decrease of 8.8%.

- The United States moved from fourth to second place, reaching 11.1% of total remittances;

- The United States is in the first position in terms of remittances per migrant and is 1.2 times higher than remittances per migrant from Russia. More...


Exchange Rates (NBG)
  02/24/17 + / -
  USD   2.5883   0.0131
  EUR   2.7402   0.0032
  RUR   4.4717   0.0119
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We wish you Happy New Year with a lot of joyful events and pleasant surprises! Let 2017 be a year of peace, happiness and prosperity for all of you!

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