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DAILY NEWS January 20, 2017

THE GOVERNMENT’S ADMINISTRATION: WITHIN DAVOS WORLD ECONOMIC FORUM, GEORGIAN PREMIER HOLDS MEETINGS WITH COMPANIES’ HEADS

Administration of Georgian government reported that Georgia’s Prime Minister Giorgi Kvirikashvili holds meetings with heads of the companies, which take part in the World Economic Forum in Davos.

Particularly, the Premier has met with Robert Dudley, executive director of BP, and discussed issues, related to Baku-Tbilisi-Ceyhan oil pipeline and expansion of South Caucasus gas pipeline project. More...


ECONOMY MINISTRY: WITHIN DAVOS WORLD ECONOMIC FORUM, THE MINISTER HELD MEETINGS WITH MINISTERS OF QATAR, SAUDI ARABIA AND EGYPT

Ministry of Economy and Sustainable Development reported that within the World Economic Forum in Davos, the Minister Giorgi Gakharia has met with the Qatari Minister of Economy and Commerce. The considerations scoped attraction of Qatari investments to Georgia, Georgian Ministry said. More...


EBRD’S PRESIDENT: I HOPE THAT THIS YEAR WE WILL ABLE TO INVEST 300M EUR IN GEORGIA

“I hope, we will be able to invest 300 million EUR in Georgia this year”, declared Suma Chakrabarti, president of EBRD.

In 2016, EBRD has invested about 250 million EUR in the country. More...


EMC: GEORGIA SHOULD STRENGTHEN LABOR INSPECTION

European and Georgian Domestic Advisory Groups (DAG) concluded that “Georgia should strengthen labor inspection, equip it with preventive, as well as reaction mechanisms and grant unlimited admission to employment places”.

The mentioned was reported by Georgia’s Human Rights Education and Monitoring Center (EMC), which took part in the second meeting of DAG, held in Brussel on November 30, 2016. More...


ENVIRONMENT PROTECTION MINISTRY: NEW REGULATIONS TO BE ENACTED IN REGARD OF SAWMILLS

Ministry of Environmental and Natural Resources Protection declared that new regulations for sawmills will enter in force in February.

Sawmill enterprises’ system of online management of accounting/processing processes upon receiving of round timber (log) has been expanded by two new modules, on product and wastes, the Ministry said. More...


TBILISI CITY HALL OFFERS PARKING FEE EXEMPTION TO ELECTRIC CAR OWNERS

Tbilisi City Hall offers exemption from parking fee to owners of electric cars, who should apply to the City Transport Service in case of desire. If the application is approved, the Service will send respective data to CT Park (private operator of parking system in Tbilisi). More...


REGULATORY COMMISSION: ELECTRICITY GENERATION LICENSE ISSUED TO “ENERGOPRO GEORGIA GENERATION”

Georgian National Energy and Water Supply Regulatory Commission declared that electricity generation license was issued to JSC EnergoPro Georgia Generation. In parallel, similar license was cancelled to EnergoPro Georgia, the Commission said. More...


TOTAL COST OF STOCK-EXCHANGE DEALS IN Q4 GREW BY 43.7 Y-O-Y

Georgian Stock Exchange reported that total cost of stock-exchange deals in the 4th quarter of past year has amounted to 1.39 million lari. If compared with the same period of 2015, the volume has increased by 43.7%. More...


TOTAL COST OF OTC DEALS IN Q4 EXCEEDED 9.7 TIMES STOCK-EXCHANGE TURNOVER

Georgian Stock Exchange reported that total volume of OTC transactions in the 4th quarter of past year has amounted to 13.52 million lari. This volume exceeds 9.7 times total cost of stock-exchange deals for the period. More...


TBILISI CITY HALL: THE THIRD MEDIA LIBRARY ARRANGED IN TBILISI

Tbilisi City Hall reported about completion of the third media library’s construction in Tbilisi Veterans’ Recreation and Culture Park (Nadzaladevi district). For that end, the city budget allocated up to 2.09 million lari, the City Hall said. More...


ECONOMIC PRESS MONITOR January 20, 2017

Eugeorgia.Info: “IF OTHER CONDITIONS BEING EQUAL, GEORGIA’S ECONOMIC WILL GROW BY AN EXTRA 4.3% THROUGH COOPERATION WITH EU”

Time, passed since signing of agreement on Deep and Comprehensive Free Trade Area (DCFTA) between Georgia and the EU (September 2014), is insufficient in order to estimate economic results of integration; at least mid-term period is necessary for assessment of produced effect, the article says.

However, short-term affects could be already seen in trade flows and production exchange structure; growth is observed in both import and export, the article notes. More...


Liberali: “GAPS OF THE CITY DEVELOPMENT POLICY”

Within the project “Initiative for a Public Space”, Georgian National Committee of Blue Shield disputes decisions of Tbilisi City Hall’s Architect Service and has filed a suit against project “Panorama Tbilisi” (large-scale construction in historic part of Tbilisi), the magazine says.

Besides, the Committee prepared study “Gaps of the City Development Policy”, which author is lawyer Anano Tsintsabadze. More...


Tabula: “KALADZE: RUSSIA WOULD SUPPLY IRANIAN GAS TO ARMENIA, THUS, WE HAVE ACTED PROPERLY”

As Georgia’s Energy Minister Kakha Kaladze states, “Today, Russia can supply gas to Armenia via Iran”. “This would naturally inflicted very big loss on us”, the Minister says and points that this was very important pre-condition of making agreement with Gazprom. More...


SPECIAL REPORT January 10, 2017

BANKING SECTOR - I-III QUARTERS, 2016

Analysis of January-November 2016, compared to the corresponding period in 2015:

- Net profit of commercial banks increased by 25.1% (114 mln GEL) and amounted to 567 mln GEL;

- The volume of deposits increased (9.4%), as did the volume of loans (7.9%) (adjusted for exchange rate);

- The proportion for which construction (by 2.8 percentage points), financial intermediation (2.5 percentage points) and hotels and restaurants (3.0 percentage points) were responsible for total loans increased;

- The volume of non-performing loans increased by 9.5%, which is mostly due to depreciation of GEL exchange rate.

According to data for November 2016, there are 16 banks in the Georgian banking sector. More...


Exchange Rates (NBG)
  01/20/17 + / -
  USD   2.6763   0.0139
  EUR   2.8457   0.0017
  RUR   4.4722   0.0250
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