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DAILY NEWS April 16, 2014

FOREIGN TRADE WITH GOODS INCREASED Y-O-Y BY 17.6% IN Q1

Sakstat published preliminary data, saying that Georgia’s trade with goods in the 1st quarter amounted to $2.52 billion (without unorganized trade). If compared with also preliminary data of the same period of 2013, growth made up 17.6%. More...


REMITTANCES TO GEORGIA INCREASED BY 4.19%, WHILE ONES FROM THE COUNTRY ABROAD – BY 23.07%

National Bank of Georgia reported that remittances to Georgia amounted in the 1st quarter to $323.55 million. If compared with the same quarter of 2013, the volume has increased by 4.19%. More...


“GOLDEN CROWN” STILL LEADS ON GEORGIAN MARKET OF REMITTANCES

National Bank of Georgia reported that in terms of remittances, transferred to Georgia in the 1st quarter, the first place is occupied by Golden Crown.

Through this system, $75.76 million was transferred to the country, increasing year-on-year by 18.4% and accounting for 23.41% of the reporting period’s total remittances to Georgia. More...


GIORGI BARABADZE APPOINTED AS HEAD OF COMPETITION AGENCY

Prime Minister Irakli Garibashvili appointed Giorgi Barabadze as head of Competition Agency.

As the government said, Barabadze is legal scholar. More...


GEORGIA REPRESENTED WITH OWN STAND IN CHINA FOR THE FIRST TIME

Georgian National Tourism Administration declared that Georgian delegation took part in international tourism fair “COTTM 2014”, held on April 9-11 in Beijing. This year, Georgia was represented with own stand for the first time at this event, the Administration said. More...


GEORGIAN WINES EXHIBITED IN PARIS

Georgian National Wine Agency reported that exhibition of Georgian wine, accomplished with degustation, was held in Paris office of OIV (International Organization of Wine). The event was organized by the Agency and Georgian embassy to France. More...


“PLOUGH CARDS” TO BE VALID UNTIL NOVEMBER

Agriculture Ministry reported that the government decided to extend validity of so-called “plough cards” until November 1.

To remind, the Ministry has started program on land-poor farmers’ spring works assistance on February 1, planning to complete it in August. More...


“GEORGIAN RAILWAY” ANNOUNCED TENDER ON STRATEGY FOR IT DEVELOPMENT

JSC Georgian Railway announced 2-stage tender on creation and introduction of strategy for IT development. Estimated value of the contract makes up 255,000 lari (VAT exclusive). More...


GYLA: MINING ON SAKDRISI-KACHAGIANI DEPOSIT IS IMPERMISSIBLE

Georgian Young Lawyers Association (GYLA) declared that decision of the Culture and Monument Protection Ministry to issue permission for company RMG Gold to continue mining works on Sakdrisi-Kachagiani archeological object has to be suspended.

GYLA said that the Ministry has issued the mentioned permission on March 13, while the Association appealed to the government by administrative means on April 11 against of this decision, considering that mining works on archeological object are impermissible. More...


“ENERGOPRO GEORGIA” INSTALLED INDIVIDUAL METERS IN 37 VILLAGES THIS YEAR

Energy Ministry reported that regional energy distributor EnergoPro Georgia has conducted installation of individual meters in 37 villages since the beginning of the year. As a result, meters were installed for 7,900 consumers in Bolnisi, Gori, Akhalkalaki, Samtredia and other municipalities. More...


PROFIT OF “ALDAGI BCI” INCREASED BY 55.5% IN 2013

Bank of Georgia Holding reported that profit of its subsidiary insurance company Aldagi BCI amounted in 2013 to 24.17 million lari. If compared with 2012, the profit has increased by 55.5%. More...


ECONOMIC PRESS MONITOR April 17, 2014

Tabula: “AGRICULTURAL UNIVERSITY: GOVERNMENT INTENDS TO SEIZE THE UNIVERSITY 400,000 LARI”

Agricultural University says that Knowledge Fund had to invest 8 million lari in the University until December 24, 2013, and this liability was guaranteed by 400,000 lari.

On April 14, the University received letter of Economy and Sustainable Development Ministry, requesting extension of the guarantee. More...


Bankebi da Finansebi: “THERE IS BOOM OF VERY EXPENSIVE CREDITS IN THE COUNTRY”

The article reports that a lot of online credit organizations (vivus.ge, onlinecredit.ge, emmascredit.ge, etc.) have appeared recently in Georgia’s internet zone.

Web pages of online lenders say that first issued loan is interest free, while say nothing about interest rates on subsequent loans, the newspaper points. More...


Bankebi da Finansebi: “NBG: EXTERNAL SHOCKS PERSIST AS SIGNIFICANT RISKS”

President of National Bank of Georgia (NBG) Giorgi Kadagidze declares that Georgian banking sector demonstrated strong skills of risk management and operational flexibility, while responding challenges of 2013.

Low economic growth during the first 3 quarters of 2013 caused reduction of demand on credits and pushed the banks to re-orient their business models on those segments, which distinguished by higher need for resources, although having relatively high potential of growth, Kadagidze told the newspaper. More...


Exchange Rates (NBG)
  04/16/14 + / -
  USD   1.7530   0.0009
  EUR   2.4262   0.0087
  RUR   4.8585   0.0134
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