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DAILY NEWS April 22, 2014

NEW PROJECT AIMS IMPROVEMENT OF BORDER INFRASTRUCTURE BETWEEN GEORGIA AND ARMENIA

EU’s Neighborhood Information Center reported about start of new project, which aims improvement of border infrastructure between Georgia and Armenia. Cost of the project makes up 4.3 million EUR. More...


STRATEGY ON THE COUNTRY’S SOCIO-ECONOMIC DEVELOPMENT TO BE ADOPTED AFTER PUBLIC CONSIDERATION

The government declared that strategy on Georgia’s socio-economic development until 2020 (“Georgia 2020”) will be adopted after public consideration. This issue was discussed today at the meeting of Economic Council under the Prime Minister. More...


BIGGEST PART OF ALLOCATION WITHIN PREFERENTIAL AGROLENDING PROGRAM’S 3RD COMPONENT ACCOUNT FOR CATTLE BREEDING

Agriculture Ministry reported that out of total funds, allocated during 1 year of the 3rd component of preferential agrolending program (establishment of new agricultural enterprises and re-equipment of existing ones), biggest part (30%, or 29.7 million lari) account for primary production in cattle breeding. In this direction, 249 loans were issued. More...


KAKHETI ACCOUNTS FOR 42% OF LOANS, ISSUED WITHIN THE PREFERENTIAL AGROLENDING PROGRAM’S 3RD COMPONENT

Agriculture Ministry reported that out of total funds, allocated during 1 year of the 3rd component of preferential agrolending program (establishment of new agricultural enterprises and re-equipment of existing ones), biggest part (42%, or 40.7 million lari) account for Kakheti. In this region, 215 loans were issued within this component. More...


EPRC: STATE POLICY SHOULD FOCUS ON THOSE SPHERES’ SUPPORT, IN WHICH GEORGIA HAS COMPETITIVE ADVANTAGES ON INTERNATIONAL MARKET

Economic Policy Research Center (EPRC) declared that state policy should emphasize support to those spheres, in which Georgia has competitive advantages on international markets.

As example, experts of the Center point at increase of fruit and grape production up to such level, which will make possible export of this category of production and products of primary production processing. More...


NUMBER OF CREDIT CARDS INCREASED BY 31.24% Y-O-Y

National Bank of Georgia reported that number of credit cards, being in circulation as of end of March, made up 1.45 million. If compared with the same period of 2013, growth makes up 31.24%. More...


NUMBER OF DEBIT CARDS INCREASED BY ALMOST 25% Y-O-Y

National Bank of Georgia reported that number of debit cards, being in circulation as of end of March, made up 5.3 million. If compared with the same period of 2013, growth makes up 24.98%. More...


“BOSCH”’S FOUNDATION TO ASSIST GEORGIA IN VOCATIONAL EDUCATION’S ENGINEERING DIRECTION

Georgian Ministry of Education and Science declared that Robert Bosch Stiftung has signed first agreement on cooperation with Georgia, envisaging assistance to engineering direction of the country’s vocational education.

Coaches, licensed by Robert Bosch, will hold trainings, using Bosch-manufactured electric tools and accessories, the Ministry said. More...


“PHILIPS” TO OPEN SERVICE-CENTER IN GEORGIA

Dutch electric and electronic manufacturer Royal Philips will open regional service-center in Georgia.

As press-service of Georgia’s Prime Minister reported, executive director of Philips Electronics Benelux Harry Hendriks has met today with Irakli Garibashvili in order to agree final details. More...


SELLING OF “MTKVARIHES” PROJECT IS STILL IN AGENDA

Caucasus Energy&Infrastructure calls extraordinary meeting of shareholders on May 15, which should consider issue of selling 100% in the company’s project on MtkvariHES construction.

To remind, the company tries to sell this project, starting in 2011, being considered last time on the directors’ board in April 2013. More...


VALUE OF INVESTMENT SECURITIES IN OWNERSHIP OF “BOGH” INCREASED BY 12% IN 2013

Bank of Georgia Holdings (BOGH) reported that value of investment securities, being in its ownership as of end of 2013, made up 519.62 million lari. This showing exceeds the figure of 2012 by 12%. More...


ECONOMIC PRESS MONITOR April 22, 2014

Rezonansi: “LOSS OF DRINKING WATER REACHES 40%”

According to Georgian National Energy and Water Supply Regulating Commission (GNERC), United Water Company of Georgia, serving regions, has installed individual meters to 41.5% of its consumers. At that, loss of water in the company’s network makes up 30% on average. More...


Rezonansi: “ARMENIAN MARKET TO CLOSE FOR CAR DEALERS”

In near future, it is possible that car re-export from Georgia to Armenia will be totally cancelled, the newspaper reports. As the reason, Armenia’s membership in Eurasian Customs Union is named. More...


Rezonansi: ““CAUCASUS ONLINE” FACES FINANCIAL PROBLEMS?”

Referring to own source, the newspaper declares that internet provider Caucasus Online has serious financial problems. The company flatly denies this information, however. More...


Exchange Rates (NBG)
  04/22/14 + / -
  USD   1.7564   0.0013
  EUR   2.4270   0.0038
  RUR   4.9229   0.0379
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