SHOWING OF PORTFOLIO INVESTMENTS IS NEGATIVE AGAIN

National Bank of Georgia reported that showing of portfolio investments in Georgia for the 1^st quarter was negative, making up $56 million in volume. Ratio of this indicator to GDP makes up 1.5%. More...

IN Q2, INCOME FROM TOURISM INCREASED BY 47% Q-O-Q

National Bank of Georgia reported that income from tourism amounted in the 2^nd quarter to $810 million. If compared with the 1^st quarter, the volume has increased by 47%. More...

PREPARATION OF CONSTRUCTION PROJECTS AND DEVELOPMENT REGULATION PLANS IN TBILISI COULD BE SUBJECTED TO CERTIFICATION

Expression of architectural planning requirements for objects of the 2^nd, 3^rd and 4^th classes (respectively, with low, average and high risk factor), preparation of construction projects and plans of development regulation could be subjected to certification, Tbilisi Mayor Kakha Kaladze declared at the capital government meeting today. “It is crucial documentation, which requires preparation on highly skilled level”, he noted. More...

RULE OF MICROFINANCIAL ORGANIZATIONS’ ACTIVITY SUPERVISION AND REGULATION IS APPROVED

National Bank of Georgia approved rule of supervision and regulation of activity of microfinancial organizations. Relevant decree will enter in force on September 1. More...

ISSUES OF FINANCIAL EDUCATION DISCUSSED IN NBG

National Bank of Georgia (NBG) hosted discussions on financial education, in which representatives of public and private sectors took part.

As NBG said, the round table was organized with assistance of the Netherlands’ Finance Ministry and International Network on Financial Education of Organization for Economic Cooperation and Development (OECD/INFE). More...

IN BORJOMI, PILOT PROJECT OF LOCAL HEATING SYSTEM TO BE IMPLEMENTED

Ministry of Economy and Sustainable Development declared that pilot project of arrangement of local heating system, operating with use of renewable energy sources, will be implemented in Borjomi (Samtskhe-Javakheti region). The project will be implemented through public-private partnership (PPP). More...

REGULATING COMMISSION: MOST PART OF VIOLATIONS, REVEALED UPON PRIMARY CHECK WITHIN “MYSTICAL CONSUMER” PROJECT, IS CORRECTED

The most part of violations, revealed upon primary check within the “mystical consumer” project, is corrected, Georgian National Energy and Water Supply Regulating Commission declared.

Checks of the Commission were conducted in TELASI (Tbilisi energy distributor), KazTransGas-Tbilisi (Tbilisi gas distributor) and GWP (Tbilisi water supply and sewerage company). More...

“IRAN AIR” BEGINS FLIGHTS BETWEEN ISFAHAN AND TBILISI

Since July 19, Iranian carrier Iran Air begins regular flight between Isfahan and Tbilisi, Georgian Civil Aviation Agency reported. The corresponding permission was issued to the airline on July 16. More...

Netgazeti.Ge: “KUMSISHVILI ABOUT INTERROGATION: IT WAS THE USUAL MEETING, WHICH ENDED PEACEFULLY”

The ex-minister of economy and sustainable development Dimitri Kumsishvili confirms that he was questioned in Prosecutor’s Office a few weeks ago, Netgazeti.Ge reports.

“About 20 days ago, I really was on interrogation, where the Prosecutor’s Office asked me to fix my thoughts in connection with certain questions”, Kumsishvili declares. More...

Netgazeti.Ge: “IN 6 MONTHS, CRIMINAL STATISTICS INCREASED BY 52.93%”

For the first 6 months of this year, number of crimes, registered in Georgia, increased by 52.93%, Netgazeti.Ge reports with reference to the Interior Ministry.

At that, if in the same period of previous year (January-June 2017), 54.35% of registered crimes were solved, in the reporting period the rate made up 36.42%. More...

Bankebi da Finansebi: “FOR “SAKNAKHSHIRI”, WHICH OPERATES TKIBULI MINES, IT IS A CERTAIN SOCIAL PROJECT AS IT WORKS WITH LOSS”

Business ombudsman Irakli Lekvinadze declares that for Saknakhshiri (Georgian Coal), which operates Tkibuli mines, it is a certain social project, “as from the date of its operation [start], the company has losses and no profit”.

“The existing infrastructure is so outdated, that it is hazardous to health”, Lekvinadze specifies. More...

Bankebi da Finansebi: “WHETHER “ALDAGI” HAS EVADED RESPONSIBILITY CONCERNING FLATOWNERS DAMAGED BY “SVETI””

There are active talks in public about possibility for construction company Shine to become another Center Point (which founders are criminally responsible), the newspaper says.

The article notes that number of damaged clients of Sveti, which has problems with completion of construction, makes up several hundreds. More...

AVERAGE HOTEL PRICES IN GEORGIA AND HOTEL PRICE INDEX (JUNE 2018)

- In June 2018, the hotel price index increased by 8.6% compared to May 2018;

- The 3-star, 4-star and 5-star hotel price index increased by 10.6% in June 2018 compared to May 2018;

- Among 3-star, 4-star and 5-star hotels the highest price increases were recorded in Adjara – 36% and Guria – 32.8%, in Tbilisi prices increased only by 0.4%;

- In June, the average cost of a room in a 3-star hotel was 143 GEL per night, 4-star hotel – 247 GEL, 5-star hotel – 403 GEL, guesthouses – 73 GEL.

AVERAGE HOTEL PRICES

In Georgia, the average cost of a room¹ in a 3-star hotel was 143 GEL per night in June 2018. More...