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DAILY NEWS July 25, 2014

CHINA BECAME GEORGIA’S 3RD LARGEST TRADE PARTNER

According to Sakstat, China became Georgia’s 3rd largest trade partner. In the 1st quarter, the top three was composed of Turkey, Azerbaijan and Russia, while as of the first half of the year, China replaced Russia in the list. More...


IN JANUARY-JUNE, EXPORT TO RUSSIA INCREASED 3.16 TIMES Y-O-Y, WHILE IMPORT FROM THIS COUNTRY DECLINED BY 1.35%

According to Sakstat’s estimation, Georgian export to Russia amounted in the first half of the year to $134.09 million, accounting for 9.4% of total export (the 3rd position). If compared with the same period of 2013, the volume has increased 3.16 times. More...


IMPORT AND REMITTANCES FROM UKRAINE CONTINUE DECLINE

According to Sakstat’s estimation, import from Ukraine in the first half of the year amounted to $245.73 million, accounting for 6.1% of total import to Georgia (the 5th position). If compared with the same period of 2013, the volume is decreased by 9.8%. More...


IN JANUARY-JUNE, ELECTRICITY IMPORT INCREASED BY 6.52% Y-O-Y, WHILE EXPORT DECLINED BY 16.2%

According to JSC Electricity System Commercial Operator, import of electricity amounted in the first half of the year to 281.45 million KWh. If compared with the same period of 2013, the volume has increased by 6.52%. More...


IN JANUARY-JUNE, GENERATION OF HYDROELECTRIC STATIONS DECREASED BY 0.07% Y-O-Y, WHILE OF HEAT POWER STATIONS – INCREASED BY 20.27%

According to JSC Electricity System Commercial Operator, generation of electricity by hydroelectric stations amounted in January-June to 4.18 billion KWh, accounting for 80% of total generation of the country. If compared with the same period of 2013, the volume has decreased by 0.07%. More...


IN JANUARY-JUNE, ELECTRICITY SUPPLY TO DISTRIBUTION COMPANIES INCREASED BY 5.22% Y-O-Y, TO DIRECT CONSUMERS – BY 2.14%

According to JSC Electricity System Commercial Operator, distribution companies accounted for 84.14% of total electricity supplies in the first half of the year. The volume, supplied to them, made up 4.21 billion KWh, increasing by 5.22%, if compared with the same period of 2013. More...


SHARE OF BANKING SECTOR IN GDP STEADILY INCREASES

National Bank of Georgia reported that ratio of deposits, placed in Georgian banks, to GDP made up 29.8% as of July 1. A year ago, that ratio made up 26.1%, while a quarter ago – 28.6%. More...


LENDING OF INDUSTRY INCREASED Y-O-Y, WHILE DECREASED FOR TRADE AND CONSTRUCTION

National Bank of Georgia (NBG) reported that out of total loans, issued to national economy by Georgian banks (in both national and foreign currencies) as of July 1, trade accounted for 31.1% (1.74 billion lari). If compared with the same period of 2013, this volume has decreased by 22.7%, while by 28.1% – if compared with the previous quarter. More...


DEPOSITS IN NATIONAL CURRENCY INCREASED IN Q2 BY 23.41% Y-O-Y

National Bank of Georgia reported that banking deposits of legal entities and private individuals, placed in national currency, amounted as of July 1 to 4.28 billion lari. That volume has increased by 23.41% year-on-year and by 1.95% – quarter-on-quarter. More...


DEPOSITS IN FOREIGN CURRENCY INCREASED IN Q2 BY 20.76% Y-O-Y

National Bank of Georgia (NBG) reported that deposits of legal entities and private individuals, placed in banks in foreign currency, amounted as of July 1 to equivalent of 6.7 billion lari. That volume has increased by 20.76% year-on-year and by 6.95% – quarter-on-quarter. More...


“LENOVO” OPENED REPRESENTATION IN TBILISI

Hi-tech publication Navigator reported that Chinese manufacturer Lenovo has opened recently representation in Tbilisi. The office is managed by Ukrainian representation of the company. More...


“BLACK SEA PRODUCTS” DECLARED BANKRUPT

Tbilisi city court declared LLC Black Sea Products bankrupt and cancelled the company’s registration in business registry.

At that, the court pointed that Black Sea Products’ request on start of insolvency proceeding was rejected, as the company was unable to cover court costs by own assets. More...


ECONOMIC PRESS MONITOR July 25, 2014

Rezonansi: “INCREASE OF SALARY AGAIN – DEPUTIES HAVE SHOWN THEIR TRUE COLORS”

After coming of Georgian Dream to power, salary was increased almost for all senior officials of the government, the newspaper says.

Salaries were not increased to MPs, but several weeks before the local elections, the Parliament’s majority started talks regarding revision of salaries and car fleet, the article points. More...


Netgazeti.Ge: “JOSEPH KAY: KEZERASHVILI TOLD ME, IF I DO NOT CEDE “IMEDI”, I WILL NOT LEAVE THE ROOM”

Yesterday, Georgian investigators have interrogated via Skype businessman Joseph Kay, citizen of the US and Israel, residing currently in New York.

Kay insists that high rank officials of former government forced him to cede broadcasting company Imedi as well as took by force Rustavi metallurgical plant. More...


Forbes Georgia: “WHAT MISTAKES GEORGIAN COMPANIES MAKE WHILE USE SOCIAL NETWORKS?”

Article, published in blog of the magazine, reviews usage of social networks, including Facebook, by Georgian companies.

In Georgian reality, you can often find the pages, where user cannot leave a comment or ask a question, the author says. More...


Exchange Rates (NBG)
  07/25/14 + / -
  USD   1.7526   0.0029
  EUR   2.3571   0.0081
  RUR   4.9998   0.0047
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