Daily News August 16, 2017	Days:  14 15 16 17 18

politics

ECONOMY MINISTRY: INFORMATION ON DISCHARGE OF HEAD OF TOURISM ADMINISTRATION DOES NOT SQUARE WITH REALITY

Information on dismissal of Giorgi Chogovadze from office of head of National Tourism Administration, spread in media, does not square with reality, Ministry of Economy and Sustainable Development stated.

“Especially absurd is connection of Giorgi Chogovadze with shortcomings, revealed during GEMFest [Georgian electronic music festival]”, the Ministry stressed in the statement, released today, pointing: “This festival has own responsible persons and Giorgi Chogovadze is not among them”.

economics

ADJUSTED FDI VOLUME OF 2016 IS BY 4.8% LESS THAN ESTIMATION

Sakstat published adjusted data of 2016, stating that volume of foreign direct investments (FDI) in Georgia made up $1.56 billion.

That volume is by 4.8% less than estimation, but by 0.1% exceeds the adjusted indicator of 2015, Georgian statistics service pointed.




AZERBAIJAN, TURKEY AND THE UK ACCOUNTED IN 2016 FOR 56.2% OF FDI IN GEORGIA

Sakstat published adjusted data of 2016, stating that the biggest foreign direct investments (FDI) in Georgia were made from Azerbaijan, Turkey and the UK.

According to adjusted data, these countries account for combined 56.2% of total FDI volume, against of 59% – according to estimations.




COMMERCIAL BANKS’ CAPITAL ADEQUACY REQUIREMENTS AMENDED

National Bank of Georgia (NBG) declared that regulation on commercial banks’ capital adequacy requirements is amended according to framework of Basel III.

Besides, rules of commercial banks’ assets classification and creation and use of loss reserves are approved in new edition, NBG said, noting that work on the mentioned amendments and introduction of credit standards was underway since 2014.




AJARA GOVERNMENT: ASPHALT CONCRETE PAVEMENT OF 35 KM IN KOBULETI MUNICIPALITY IS PLANNED THIS YEAR

The government of Ajara declared that budget of department for roads and melioration systems management for the current year envisages arrangement and rehabilitation of 35 km of asphalt concrete pavement.

Besides, plans scope construction of 4 new bridges and rehabilitation of 3 existing ones in the municipality, the government said.




TBILISI MAYOR: THERE IS NO LAG IN RESPECT OF SCHEDULE PLAN OF BEIJING AVENUE’S REHABILITATION

Mayor of Tbilisi David Narmania declared that “there is no lag in respect of schedule plan” of rehabilitation of Beijing Avenue.

According to Tbilisi City Hall, rehabilitation of this avenue, which has started on June 16, will be completed in September.

business

AS OF MARCH 31, PROFIT OF “AZERBAIJAN INTERNATIONAL BANK – GEORGIA” INCREASED BY 8.7% Y-O-Y

According to report of Azerbaijan International Bank – Georgia, its net profit as of March 31 amounted to 1.75 million lari. If compared with the same period of 2016, the volume has increased by 8.7%.

society

THIS YEAR, “TBILISOBA” TO TAKE PLACE ON OCTOBER 7-8

City Hall of Tbilisi declared that “Tbilisoba” (city fest) will be held this year on October 7-8. The main locations will be “New Tbilisi”, Rike and Legvtakhevi, the City Hall noted.