Georgian English Russian Main Register Company Partners Feedback
Sarke Information Agency
Georgian/English/Russian Menu

Daily News
Economic Press Monitor
 
Georgian Business Ethics Web Conference


DAILY NEWS November 25, 2014

PRIME MINISTER: GEORGIA IS NOT ONLY OPEN FOR BUSINESS, BUT SAFE AS WELL

Press office of Georgian Prime Minister reported that within visit to the UK, the Premier Irakli Garibashvili met large investors and representatives of business-companies today. “Georgia is not only open for business, but safe as well”, Garibashvili declared at the meeting. More...


YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION: IN 2014 ECONOMY WILL GROW WITH ESTIMATED RATE AT LEAST

Young Financiers and Businessmen Association said that “The government plans 5% growth this year, but slowdown in economic growth for recent 3 months raised in some people expectations that annual economic growth cannot be achieved in the annual context”.

The Association forecasts that economy in 2014 “will grow at least with estimated rate”. More...


MP ZURAB JAPARIDZE: THERE ARE PROBLEMS IN VIRTUALLY ALL SOURCES OF FOREIGN CURRENCY’S INFLOW TO THE COUNTRY

MP from oppositional United National Movement Zurab Japaridze declared that “There are problems in virtually all sources of foreign currency’s inflow to the country”.

“In the last 3 months, there is direct evidence of export’s decrease”, said Japaridze and added: “Also, there is decline in foreign direct investments”. More...


MP SERGO RATIANI: PLANNED AMENDMENTS TO BUDGET CODE THREATEN FINANCIAL INDEPENDENCE OF HIGHER EDUCATION INSTITUTIONS

MP from oppositional United National Movement Sergo Ratiani considers that amendments to Budget Code, being drafted by the government, “threaten financial independence of higher education institutions”.

To remind, draft amendments, which affect local self-governments, legal entities of public law and state-established non-commercial legal entities, will be discussed in the Parliament during current session week. More...


OIL-PRODUCTS’ IMPORTERS UNION: FUEL PRICE REDUCTION IN GEORGIA WILL BE CONTINUED

Oil Products’ Importers Union declared that international prices on oil products are reducing these days, according to Platt’s (on which fuel price in Georgia is dependent). Following this trend, decline of fuel price is continued in our retail chains, the Union said. More...


GEORGIAN PRODUCTS ON “SIAL EAST 2014”

Georgian Ministry of Economy and Sustainable Development reported that Georgian production is represented at one of the largest international exhibition “SIAL East 2014”, which is held on November 24-26 in Abu Dhabi. Participation of Georgian companies in the exhibition was provided by Enterprise Development Agency. More...


“GEORGIAN RAILWAY”: NEW SALARY SYSTEM TO ENTER IN FORCE FROM THE BEGINNING OF 2015

JSC Georgian Railway reported that new salary system would enter in force from the beginning of 2015. Introduction of new payroll and motivational systems is implementing with support of Synergy Group. More...


USAID/REAP TO ASSIST “REPUBLIC” IN AGROLENDING

USAID’s Restoring Efficiency to Agriculture Project (USAID/REAP) will render technical assistance to bank Republic in its agrolending activity. The respective agreement was signed in Tbilisi today. More...


“LIBERTY BANK” INCREASED ITS DEBIT CARDS’ NUMBER BY 41% Y-O-Y

Liberty Bank reported that number of its debit cards made up 3.1 million as of September 30. If compared with the number in the end of 2013 (2.2 million), growth made up 41%. More...


9-MONTH NET SALES OF “GEOCELL” DECREASED BY 6% Y-O-Y

TeliaSonera, Scandinavian owner of mobile operator Geocell, reported that net sales of Geocell for January-September made up 157.95 million lari (as of current exchange rate). If compared to the same period of 2013, the volume is reduced by 6%. More...


OPERATING INCOME OF “MOBITEL” DECREASED IN Q3 BY 7% Y-O-Y

As of September 30, operating income of LLC Mobitel (mobile communications company, operating under Beeline brand) amounted to 37 million lari. If compared with the same period of 2013, the showing has decreased by 7%. More...


ECONOMIC PRESS MONITOR November 25, 2014

Rezonansi: “LARI RATE ON THE BRINK OF PANIC!”

During a week, national currency has devaluated against the US dollar by 3.2% and exchange rate exceeded 1.82 GEL/USD, says the newspaper.

The newspaper recalls devaluation in the end of 2013 and notes that National Bank of Georgia (NBG) then stopped the process at the mark of 1.79 GEL/USD. More...


Rezonansi: “THE BUDGET TO BE BROKEN THIS YEAR AGAIN!”

The article reports that according to 10-month data, the budget collected 7.174 billion lari, which is 78% of the plan. In order to fulfill the annual plan in remained 2 months, mobilization of 2 billion lari is needed. More...


Rezonansi: “AMAZING DEMAND ON HAZELNUT SEEDLINGS”

Compared with the previous tear, sales of hazelnut seedlings increased by 25-30%. One seedling costs within 0.50-2.00 lari. More...


Exchange Rates (NBG)
  11/25/14 + / -
  USD   1.8192   0.0025
  EUR   2.2624   0.0029
  RUR   4.0448   0.0228
Announcements
Dear readers,

We are leaving for summer holidays until September 1.

Wish you jolly summer vacations too!

Sarke Information Agency

Fujitsu Computer Systems Corporation

© 2014 Sarke Information Agency