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DAILY NEWS October 24, 2014

TRADE TURNOVER WITH EU COUNTRIES INCREASED BY 8% Y-O-Y, WITH CIS COUNTRIES – BY 0.4%

Sakstat reported preliminary data of January-September, according to which trade turnover with EU countries reached $2.19 billion, increasing by 8% year-on-year. Georgian export amounted to $458 million (growth – 23%), while import from EU – to $1.73 billion (growth – 5%). More...


IN JANUARY-SEPTEMBER, CARS STILL LED IN EXPORT, WHILE OIL-PRODUCTS – IN IMPORT

Sakstat published preliminary data for January-September, according to which cars still occupied first place in Georgia’s top 5 exporting articles. However, export for this commodity group has decreased by 20.16% year-on-year, making up $408.57 million and accounting for 19% of total export (against of 25.4% a year ago). More...


CZECH REPUBLIC TO ASSIST GEORGIA IN MAJOR ACCIDENTS’ PREVENTION

Georgian Ministry of Environment and Natural Resources Protection signed today a cooperation memorandum with Development Agency of Czech Republic.

The document envisages implementation of project on “development of opportunities for prevention of major accidents in Georgia”. More...


TRANSPORT LEADS AMONG ECONOMIC ACTIVITIES IN TERMS OF SPENT MONEY, BUT PLAN IS STILL FULFILLED BY 77.8%

Treasury Service of the Finance Ministry reported that in terms of budgetary funds, spent on economic activity in 9 months (617.2 million lari, plan fulfillment – 78.4%), transport is a leader with 357.62 million lari, accounting for 57.94% of total volume. However, 9-month plan in this direction is fulfilled by 77.8% only. More...


GOVERNMENTAL SECURITIES EMITTED IN NATIONAL CURRENCY INCREASED BY 74.34% Y-O-Y

National Bank of Georgia (NBG) reported that the governmental securities, emitted in national currency, amounted as of September 30 to 1.4 billion lari. If compared with the same period of 2013, the volume has increased by 74.34%, while if compared with the end of June – by 12.03%. More...


INTRODUCTION OF GEO-CORS ELECTRONIC SYSTEM ACCOMPLISHED

National Agency of Public Registry reported about completion of introduction of GEO-CORS (network of permanent GPS base stations). After works, which were started in 2010, countrywide network numbers 23 stations. More...


PRESIDENT AND BOARD MEMBERS OF “AMCHAM GEORGIA” RE-ELECTED

General assembly of American Chamber of Commerce in Georgia (AmCham Georgia) elected president and 9 members of board for another 2-year term.

Co-owner and vice president of computer company UGT Sarah Williamson maintained position of the president, holding this post since 2012. More...


“SEE.PLACE”: GEORGIA HOLDS 8TH POSITION AMONG THE WORLD’S SAFEST COUNTRIES

British tourism portal See.Place named Georgia among the top 10 world’s safest countries for living.

As short description of the country says, “The crime rate in Georgia is reported to be very low and is exactly why it has made it to eighth place in the safest countries in the world list”. More...


IN 9 MONTHS, VOLUME OF ONLINE BANKING TRANSACTIONS INCREASED BY 26.37% Y-O-Y

National Bank of Georgia reported that in 9 months of the year, volume of online banking transactions amounted to 352.91 million lari. If compared with the same period of 2013, the volume has increased by 26.37%. More...


“SOCIETY AND BANKS”: MORTGAGE LOAN IN GEORGIA IS FAR FROM IDEAL CONDITIONS

Non-governmental organization Society and Banks said that “so far, mortgage loan on Georgian financial market is far from ideal conditions”.

“Unfortunately, these conditions are not suited for every customer type, the interest rate is high, while loan duration is short”, the organization said. More...


DEG TO ALLOCATE $35M TO “SAKARTVELOS BANKI”

Sakartvelos Banki (Bank of Georgia) has signed today an agreement with German Investment Corporation (DEG) on loan allocation of $35 million. Duration of credit, envisaged for funding small and medium business in Georgia, makes up 5 years. More...


ECONOMIC PRESS MONITOR October 24, 2014

Versia: “GOLD MINING DECLINED IN GEORGIA”

The article points that RMG Gold is the second largest Georgian company in terms of export volume, accounting for 10% of total export. However, production volume is significantly reduced since 2011, which has been reflected on the export as well, the newspaper says. More...


Rezonansi: “IRANIAN AIM TO BUILD OIL REFINERY IN POTI”

The newspaper reports that the government plans to build oil refinery plant in Poti. Interest to the plant’s construction is expressed by Iranians. More...


Tabula: “MINISTRY DOES NOT FULFILL COURT-IMPOSED LIABILITIES IN CASE OF AGRARIAN (UNIVERSITY)”

According to the court decision, Ministry of Economy and Sustainable Development should recognize fulfillment of investment liabilities by Agrarian University.

“However, representatives of Agrarian University claim that the Ministry neglects judge’s decision, roughly violating law by that”, the magazine reports. More...


Exchange Rates (NBG)
  10/24/14 + / -
  USD   1.7525   0.0002
  EUR   2.2171   0.0024
  RUR   4.1916   0.0312
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