Daily News

IN THIS ISSUE:

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.

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”.

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”.

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.

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.

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.

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.

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.

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%.

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%.

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%.