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DAILY NEWS September 19, 2014

PROPERTY OF GEORGIAN EX-PRESIDENT AND HIS RELATIVES HAS BEEN SEQUESTRATED

Following solicitation of the Main Prosecutor’s Office, Tbilisi city court and court of appeal authorized seizure of movable and immovable property of ex-president Mikheil Saakashvili and his family members.

“As accused Saakashvili avoids (cooperation with) investigation, there was grounded suppose that he would alienate or hide in some other way his property and one of persons, related to him, which would hamper compensation of damage, inflicted to the state”, the Main Prosecutor’s Office said in a statement, published today. More...


GEORGIA AND UKRAINE PLAN INTRODUCTION OF NEW UNIVERSAL MULTI-PERMITS FOR TRUCK TRANSPORTATION

Georgian Ministry of Economy and Sustainable Development reported that Georgia and Ukraine are going to introduce new universal multi-permits for truck transportation. As the Ministry noted, those permits should assist carriers to implement international freight transportation in a simplified way. More...


REGULATIONS OF AGRICULTURAL LANDS’ AQUISITION BY FOREIGNERS TO CHANGE

Amendments, drafted to law “On Ownership of Agricultural Land”, prohibit acquisition of agricultural land in Georgia for company or other legal entity, established abroad.

As Justice Minister Thea Tsulukiani has declared, the government approved the draft at the meeting today. More...


AJARA’S MINISTRY OF FINANCE AND ECONOMY: PRIVATE INVESTMENTS GREW BY 24.2%

According to Ajara’s Ministry of Finance and Economy, direct private investments, made in autonomous republic in 6 months, amounted to 114.4 million lari. If compared with the same period of 2013, the volume has increased by 24.2%. More...


TURKISH “METRO TICARI” TO INVEST $42M IN BATUMI

Turkish holding Metro Ticari is going to invest $42 million in Ajara. The company is going to build apart-hotel and hotel in Batumi. More...


TBILISI MAYOR: “PRESENTATION OF “OUTDOOR.GE” RAISED EVEN MORE QUESTIONS REGARDING THE COMPANY’S ACTIVITIES”

“Presentation of Outdoor.Ge raised even more questions regarding the company’s activities”, Tbilisi Mayor David Narmania declared after meeting with management of this advertising company.

“Financial report for 2013 is not presented, so, we cannot determine volume of income and compare it with data, existing in the budget”, Narmania said. More...


NEW SPECIAL MANAGER APPOINTED IN “KAZTRANSGAS-TBILISI”

Georgian National Energy and Water Supply Regulatory Commission reported that Giorgi Benashvili has been appointed as a new special manager in KazTransGas-Tbilisi (Tbilisi gas distributor), with office term extended until end of the year.

The Commission adopted respective amendments in own decision of 2009 at the meeting yesterday. More...


PARTNERSHIP FUND: HOTEL COMPLEX IN LIKANI IS SCHEDULED TO OPEN BY THE END OF THE YEAR

Executive director of Partnership Fund Irakli Kovzanadze reported that construction works in Likani are intensively undergoing and “we plan to officially open the hotel by the end of the year”.

Kovzanadze stated this today, while visiting the construction site together with director of Kazakh company KazMunaiGas-Service, the Fund’s partner in the project. More...


NEW DIRECTOR GENERAL TO HEAD BANK “REPUBLIC”

Bank Republic has announced today that since October, the bank will be headed by new general director Antoine Gabizon. He will replace Christian Carmagnole, who led bank since December 2010, while now will continue working in Polynesia. More...


HEALTH INSURANCE ACCOUNTED FOR 64% OF PREMIUM, ATTRACTED BY “IRAO” IN Q2, AND FOR 94% OF REIMBURSEMENTS

According to State Insurance Supervision Service, Irao attracted premium of 16.31 million lari in the 2nd quarter (the 3rd position among Georgian insurance companies). However, this showing has decreased by 21.7% year-on-year. More...


MEDICAL INSURANCE ACCOUNTED FOR 51% OF PREMIUM, ATTRACTED BY “ARDI GROUP” IN Q2, AND FOR 70% OF REIMBURSEMENTS

According to State Insurance Supervision Service, Ardi Group attracted in the 2nd quarter premium of 14.12 million lari, occupying in this term the 4th position among Georgian insurance companies. If compared with the same period of 2013, this volume has increased by 41.26%. More...


PRIME MINISTER: NUMBER OF PEOPLE LIVING IN POVERTY IS ALMOST HALVED

“Number of people, living in poverty, substantially reduced and this showing is practically halved”, Prime Minister Irakli Garibashvili declared at the presentation of Georgia’s national report on Millennium Development Goals today.

The Premier pointed that “The most important achievement in terms of improvement of population’s social conditions was launch of universal healthcare program, which secured medical services for every citizen of Georgia, who was uninsured”. More...


ABOUT 420 FAMILIES RECEIVED AID WITHIN USAID-FUNDED “NEW ECONOMIC OPPORTUNITIES INITIATIVE”

Non-governmental organization Civil Development Agency (CiDA) reported that about 420 families got assistance within USAID-funded “New Economic Opportunities Initiative” (NEO).

The project, which CiDA implements since September 2012 in 44 communities of Shida Kartli and Mtskheta-Mtianeti, will be finished in October. More...


4M LARI TO BE INVESTED IN 4 NEW ENTERPRISES WITHIN STATE PROGRAM “PRODUCE IN GEORGIA”

Minister of Economy and Sustainable Development Giorgi Kvirikashvili reported that the government approved creation of 4 new enterprises within the state program “Produce in Georgia” at the meeting today.

As the Minister said, construction of clothes factory, hi-tech plant for used motor oil recycling, construction materials’ manufacturing plant and fodder producing plant will be financed. More...


CONSTRUCTION OF GREENHOUSE FARMING TO START IN GARDABANI

The Prime Minister’s press office reported that construction of greenhouse farming will start in Gardabani (Kvemo Kartli region). Construction on the farming, occupying area of 9 ha, should be completed in one year. More...


ECONOMIC PRESS MONITOR September 19, 2014

Versia: “EXCLUSIVE INTERVIEW WITH NODAR KHADURI”

In his interview to the newspaper, Finance Minister Nodar Khaduri reviews amendments to be made in Tax Code. Consideration of the draft will start soon in committees of the Parliament. More...


Rezonansi: “DOMESTIC DEBT’S PYRAMID”

The government took the biggest domestic debt this year, the newspaper says. In particular, emission of treasury securities of 910 million lari is planned, of which 310 million lari will be used for old debts’ payment. More...


Rezonansi: “ASSOCIATION AGREEMENT CHANGED NOTHING IN TERMS OF EXPORT SO FAR”

The newspaper says that at this stage, the main problem for Georgian production on European market are technical barriers, such as regulations, standards, geographical indications and certification procedures.

There are many farmers, who cannot meet European standards, receiving expensive certificates and export production on European market, the newspaper points. More...


Exchange Rates (NBG)
  09/19/14 + / -
  USD   1.7492   0.0001
  EUR   2.2500   0.0025
  RUR   4.5536   0.0011
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