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DAILY NEWS February 15, 2019

FOREIGN MINISTERS OF SWEDEN, POLAND AND CZECH REPUBLIC ON RELATIONS WITH EAP PARTNER COUNTRIES: GROWTH OF TRADE AND INVESTMENTS IS WITHIN OUR COMMON ECONOMIC INTERESTS

Foreign ministries of Sweden, Poland and the Czech Republic (Margot Wallstrom, Jacek Czaputowicz, Tomas Petricek) released a joint statement in connection with the 10th anniversary of the EU Eastern Partnership (EaP) initiative, pointing that “growth of trade and investments is within our common economic interests”.

The ministers indicated that the EU is the main trade partner for 5 states of EaP – Azerbaijan, Armenia, Georgia, Moldova and Ukraine, while the second – for Belarus (the 6th member of EaP). More...


SWEDEN-BACKED PROJECT “GEORGIAN BUSINESS CLOSE TO EUROPE” IS IMPLEMENTED IN GEORGIA

Presentation of “Georgian Business close to Europe” project (GEclose2EU), organized by Economic Policy Research Center (EPRC), was held in Tbilisi today.

The 3-year project with total budget of $2.3 million is implemented since November 2018 with assistance of Sweden. More...


HEAD OF SUBSOIL AGENCY: EBRD-ASSISTED REFORM OF SUBSOIL SECTOR IS UNDERWAY

Maya Zavrashvili, head of Georgian National Agency of Subsoil, declared that reform of the country’s subsoil sector is conducted with financial support of EBRD.

Zavrashvili reported that at the 1st phase of the reform, Adam Smith International consulting group developed the working version of policy and strategy document. More...


MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: BENEFICIARIES OF “UNIFIED AGROPROJECT” WILL RECEIVE FINANCIAL AND TECHNICAL ASSISTANCE

Georgian Ministry of Environmental Protection and Agriculture declared that beneficiaries of “Uniform Agroproject” of Agricultural Projects’ Management Agency will receive financial and technical assistance.

As the Ministry explained, the matter concerns beneficiaries, who “have clear potential of jobs’ creation and growth of income of small and medium-sized enterprises”. More...


NBG BOUGHT $15M

National Bank of Georgia (NBG) declared about purchase of $15 million at the currency auction today. Average weighted rate made up 2.6414 GEL/USD. More...


DAVID ONOPRISHVILI IS APPOINTED THE HEAD OF STATE INSURANCE SUPERVISION SERVICE

Georgian government declared about appointment of David Onoprishvili as head of State Service for Insurance Supervision with office term of 5 years. The government noted that Prime Minister has signed already the respective order. More...


CIVIL AVIATION AGENCY: NUMBER OF ISSUED FLIGHT TECHNICIAN CERTIFICATES GROWS

Interest to flight technician certificates and number of issued certificates grows, Georgian Civil Aviation Agency declared.

According to the Agency, in 2018, certificates of aircraft technician were issued to 150 persons that by 60% exceeds showing of 2017. More...


IN KUTAISI, REGIONAL BUSINESS FORUM OF WESTERN GEORGIA TOOK PLACE

Georgian Ministry of Economy and Sustainable Development reported about regional business forum of Western Georgia, held in Kutaisi.

According to the Ministry, the event, which was organized by Georgian Chamber of Commerce and Industry, about 200 businessmen from Western Georgia took part. More...


“TBC BANK” FILED A SUIT DEMANDING CANCELLATION OF NBG ADMINISTRATIVE ACTS

TBC Bank declared about a suit, filed today with demand of cancellation of administrative acts of National Bank of Georgia (NBG).

The statement, released by the bank, says that TBC Bank continues litigation and does not agree with NBG position that the bank allegedly violated the law on conflict of interests by transactions of 2007-2008. More...


“SAKARTVELOS BANKI”, “RED CO” AND “ANAGI” AGREED ON COOPERATION

Today, Sakartvelos Banki (Bank of Georgia) declared about reaching of agreement on cooperation with developer company Red Co and construction company Anagi. At this stage, partnership is calculated on 5 years. More...


ECONOMIC PRESS MONITOR February 15, 2019

Tabula: “KHUKHASHVILI ON “TBC”: APPLICATION OF SANCTIONS WITH 11-YEAR DELAY IS UNCONVINCING, SOMETHING STINKS VERY MUCH”

Political scientist Gia Khukhashvili indicates that National Bank of Georgia (NBG) has operative access to all banking transactions, and application of sanctions with 11-year delay “looks unconvincingly”.

At that, Khukhashvili asks: “Who is affected party?”. More...


Netgazeti.Ge: “KHAZARADZE SPEAKS ABOUT ANAKLIA PORT AND IS NOT GOING TO LEAVE “TBC””

Chairman of supervisory council of TBC Bank Mamuka Khazaradze commented in Facebook on demand of National Bank of Georgia (NBG) on resignation of him and his deputy Badri Japaridze. Khazaradze declares that he is not going to leave TBC, Netgazeti.Ge reports. More...


Rezonansi: “VERY IMPORTANT DECISION – “SALE” OF CONSTRUCTION COEFFICIENTS IS PROHIBITED”

Tbilisi Mayor Kakha Kaladze declared that “very important decision” is made, in particular “raise of coefficients and sale of K2 coefficient [intensity of development] will be suppressed”. The mentioned practice was acted since 2005. More...


Bankebi da Finansebi: “SPECULATIONS THAT MONEY IN THE PENSION FUND LAY, ARE LOST OR UNDERGO INFLATION, IT IS NOT SO”

Georgia’s Finance Minister Ivane Machavariani says that staffing of investment council of the Pension Agency will be completed in next few months. In turn, investment of funds in investment projects could start until end of the year, he points. More...


SPECIAL REPORT January 22, 2019

AVERAGE HOTEL PRICES IN GEORGIA AND HOTEL PRICE INDEX (DECEMBER 2018)

In December 2018, compared to November 2018, in Tbilisi, the hotel price index increased by 11.9%. The growth rate of guesthouse prices (21%) significantly exceeded the growth rate of 3-, 4- and 5-star hotel prices (9.3%). More...


Exchange Rates (NBG)
  02/15/19 + / -
  USD   2.6413   0.0007
  EUR   2.9791   0.0013
  RUR   3.9608   0.0031
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Wish you happy New Year! Let happiness, peace and prosperity be with you and your beloved ones in 2019!

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