Daily News
April 17, 2014
IN THIS ISSUE:
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1. |
REMITTANCES FROM RUSSIA TO GEORGIA DECREASED BY 5% Y-O-Y IN Q1
Economics
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National Bank of Georgia reported that out of total remittances, transferred to Georgia in the 1st quarter ($323.55 million), 5 countries accounted for 82.1% (i.e. for $265.49 million). The top five includes Russia, Greece, Italy, the US and Turkey.
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2. |
REMITTANCES FROM GEORGIA TO RUSSIA INCREASED BY 41.6% Y-O-Y IN Q1
Economics
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National Bank of Georgia reported that out of total remittances, transferred in the 1st quarter from Georgia abroad ($38.83 million), 3 countries accounted for 58.6% (i.e. $22.73 million). The top three includes Russia, Ukraine and Greece.
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3. |
“PMCG”: AGRICULTURE INCREASED THE MOST, CONSTRUCTION DECLINED THE MOST IN 2013
Economics
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Policy and Management Consulting Group (PMCG) declared that on background of real GDP growth of 3.2% in 2013, agriculture increased the most – by 9.8%. Share of this branch in GDP growth amounted to 0.72 percentage points.
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4. |
NET PROFIT OF BANKING SECTOR INCREASED BY ALMOST 45% Y-O-Y IN Q1
Economics
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National Bank of Georgia reported that net profit of commercial banks for the 1st quarter totaled to 94.57 million lari. This showing has increased by 44.92% year-on-year.
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5. |
OVERDUE LOANS ACCOUNTED FOR 2.6% OF TOTAL CREDITS, WHILE IDLE LOANS – FOR 7.28% IN Q1
Economics
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National Bank of Georgia reported that overdue loans amounted to 280.08 million lari by the end of the 1st quarter. This showing has increased by 13.9% year-on-year.
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6. |
DOMESTIC TURNOVER OF OPERATIONS WITH CARDS, ISSUED BY RESIDENT ISSUERS, INCREASED BY 26.48% IN Q1
Economics
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National Bank of Georgia reported that domestic turnover of operations with cards, issued by resident issuers, amounted in the 1st quarter to 2.2 billion lari. This volume has increased by 26.48% year-on-year.
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7. |
FOREIGN TURNOVER OF OPERATIONS WITH CARDS, ISSUED BY RESIDENT ISSUERS, INCREASED BY 33% IN Q1
Economics
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National Bank of Georgia reported that foreign turnover of operations with cards, issued by resident issuers, amounted in the 1st quarter to 170.47 million lari. This showing has increased by 33% year-on-year.
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8. |
BELGIAN BUSINESSMEN ACQUAINT WITH GEORGIA’S INVESTMENT ENVIRONMENT
Economics
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Georgian government reported that Belgian business delegation, visiting Georgia for acquainting with local investment environment, held meeting with Georgia’s Prime Minister Irakli Garibashvili today. Delegation, headed by Prince Juan Bagration-Mukhran and co-founder of ProSeed Capital Holdings CVA Benjamin Van Oudenhove combining representatives of about 15 Belgian leading business companies, the government said.
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9. |
ACTUAL TOPIC: GEORGIA ON HOMESTRETCH OF DCFTA SIGNING
Economics
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Kakha Gogolashvili, director of Center for European Studies, commented to Sarke on Deep and Comprehensive Free Trade Agreement with EU (DCFTA). On what extent is Georgia ready for mastering European market? Gogolashvili: Georgia at this stage is not a country, which can massively and intensively master EU market, but DCFTA is opportunity, which is opening for our industry, agriculture in order to target this market, as Georgian production’s entry to this market will became much easier.
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10. |
BLITZ-SURVEY: COMPANIES’ PLANS FOR PERIOD AFTER SIGNING OF DCFTA
Business
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Sarke interviewed local exporters regarding their plans in case of signing of Deep and Comprehensive Free Trade Agreement (DCFTA) between Georgia and EU. Sarke’s questions responded wine companies Teliani Valley and Khareba, beer and nonalcoholic beverages producer Zedazeni, confectioneries Barambo and Churchkhela Georgia, juices and canned food producer Kula and sewing factory Elselema.
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11. |
CHAIRMAN OF NATIONAL WINE AGENCY: WE DO NOT HAVE SANITARY BARRIERS FROM EU SIDE
Economics
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Chairman of National Wine Agency Levan Davitashvili declared that unlike food and other sectors of agriculture, wine industry has already implemented significant works in terms of quality control. Respectively, EU has no questions of sanitary nature, i.e. barriers, regarding Georgian wine, he pointed.
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12. |
CHAIRMAN OF NATIONAL WINE AGENCY: RESTRICTIONS ON GEORGIAN WINE EXPORT TO BELARUS REMOVED
Economics
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Chairman of National Wine Agency Levan Davitashvili declared that there was hampers in Georgian wine export to Belarus in the beginning of the year, but restriction are already removed for now. “Our activity led to elimination of hampers and we do hope that they will not appear in future as well”, Davitashvili assured at today’s briefing.
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13. |
MOST MASSIVE FALSIFICATION OF GEORGIAN WINE FIXED IN KYRGYZSTAN
Economics
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Chairman of National Wine Agency Levan Davitashvili declared that most cases of Georgian wine’s falsification are fixed in Kyrgyzstan. “In Kyrgyzstan, there are two largest companies, totally controlling the market, which were engaged in production of so-called Georgian wine, on what the Agency has reacted”, Davitashvili declared.
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14. |
VAKHTANG ABASHIDZE BECAME GNCC MEMBER
Politics
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Georgian National Communication Commission (GNCC) reported that today the Parliament elected Vakhtang Abashidze as GNCC member. In his support, 85 MPs have voted.
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15. |
“BANK OF GEORGIA HOLDINGS” ACQUIRED “CARAPS MEDLINE” FOR 7.81M LARI
Business
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Bank of Georgia Holdings (BOGH) reported that it has paid 7.81 million lari in cash for multiprofile clinic Caraps Medline. Besides, before acquisition, Caraps Medline had loan of 510,000 lari, taken supposedly in Sakartvelos Banki (Bank of Georgia).
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