GEORGIAN PENSION AGENCY: INVESTMENT INCOME EXCEEDED 1.23B LARI

As of August 31, assets of pension assets amounted to 5.5 billion lari, Georgian Pension Agency reported. In total sum, investment income exceeded 1.23 billion lari, the Agency noted. More...

AS OF JUNE 30, 17.4% OF GEORGIA’S TOTAL DEPOSITS WERE INSURED

As of June 30, volume of deposits placed in 15 banks operating in Georgia totaled to 56.79 billion lari.

As Georgian Deposit Insurance Agency reported, deposits insured under the country’s deposit insurance system amounted to 9.87 billion lari, making up 17.4% of total volume. More...

REGULATORY COMMISSION DRAWS UP PROTOCOL ON VIOLATIONS IN RELATION TO 4 TV CHANNELS, BUT ASKS COURT TO EXEMPT BROADCASTERS FROM RESPONSIBILITY

Georgian National Communication Commission reported about upholding of complaint, submitted by the ruling Georgian Dream against Public Broadcaster, Mtavari Arkhi, TV Pirveli and Formula.

According to the Commission, the ruling party complained that one electoral entity could not advertise in favor of another electoral entity within the allotted airtime. More...

IN GEORGIA’S TOTAL ACCIDENT INSURANCE PREMIUM FOR 6 MONTHS, 3 COMPANIES ACCOUNTED FOR 45.6%

In January-June, 19 companies operating in Georgia attracted in accident insurance a premium of 9.1 million lari (year-on-year growth – 14.5%), Georgian State Service for Insurance Supervision reported.

In total premium, combined share of 3 companies made up 45.6%, or 4.1 million lari. More...

IN GEORGIA’S TOTAL CARGO INSURANCE PREMIUM FOR 6 MONTHS, 3 COMPANIES ACCOUNTED FOR 70.55%

In January-June, 19 companies operating in Georgia attracted in cargo insurance a premium of 7.96 million lari (year-on-year growth – 17.5%), Georgian State Service for Insurance Supervision reported.

In total premium, combined share of 3 companies made up 70.5%, or 5.6 million lari. More...

IN GEORGIA’S TOTAL TRAVEL INSURANCE PREMIUM FOR 6 MONTHS, 3 COMPANIES ACCOUNTED FOR 62%

In January-June, 19 companies operating in Georgia attracted in travel insurance a premium of 6.4 million lari (year-on-year growth – 26%), Georgian State Service for Insurance Supervision reported.

In total premium, combined share of 3 companies made up 62%, or 3.95 million lari. More...

IN GEORGIA’S TOTAL OBLIGATIONS’ DISCHARGE INSURANCE PREMIUM FOR 6 MONTHS, 3 COMPANIES ACCOUNTED FOR 73.5%

In January-June, 19 companies operating in Georgia attracted in insurance of discharge of obligations a premium of 6.1 million lari (year-on-year reduction – 4%), Georgian State Service for Insurance Supervision reported.

In total premium, combined share of 3 companies made up 73.5%, or 4.5 million lari. More...

IN GEORGIA’S TOTAL FINANCIAL LOSS INSURANCE PREMIUM FOR 6 MONTHS, 3 COMPANIES ACCOUNTED FOR 82%

In January-June, 19 companies operating in Georgia attracted in financial loss insurance a premium of 4.11 million lari (year-on-year reduction – 13.8%), Georgian State Service for Insurance Supervision reported.

In total premium, combined share of 3 companies made up 82%, or 3.37 million lari. More...

Bankebi da Finansebi: “TAKING RISK FACTORS INTO ACCOUNT, NBG EXERCISES CAUTION, AND FOR THESE REASONS, THE MONETARY POLICY RATE HAS REMAINED UNCHANGED – LASHA KAVTARADZE”

We expected that the monetary policy rate will remain unchanged at 8%, says Galt&Taggart analyst Lasha Kavtaradze. Moreover, the rate will remain unchanged until end of the year, he predicts. More...

Netgazeti.Ge: “WHY IVANISHVILI NEEDED TO BE ON THE LIST OF CANDIDATES”

In Georgian parliamentary elections of 2024, number one of the candidates’ list of Georgian Dream will be Bidzina Ivanishvili (billionaire founder and honorary chairman of the ruling party). Until now, Ivanishvili not only was not number one on the list, but he was never on the list at all, the article indicates. More...

Tabula: “THE GOVERNMENT WILL ALLOCATE ADDITIONAL 4M LARI TO THE PATRIARCHATE FOR REHABILITATION OF GELATI”

For restoration of Gelati (monastery complex near Kutaisi, built in 1106 AD), the Georgian government will allocate 11.5 million lari. The Prime Minister’s order of March 18 envisaged allocation of 7.5 million lari, while by order of September 9, 4 million lari are added to initial sum. More...

Tabula: “GODOLADZE: SUSPENSION OF US ASSISTANCE OF $95M WILL NOT AFFECT OUR INSTITUTE”

Suspension by US of assistance in the amount of $95 million (intended for Georgian government) will not affect the Institute of Earth Sciences and the National Center for Seismic Monitoring, declared head of the Center Thea Godoladze. We have received further clarification in this regard, she said. More...

Bankebi da Finansebi: ““WE WELCOME CHINESE INVESTORS, SO THEY TAKE ADVANTAGE OF OUR COUNTRY’S GEOGRAPHICAL LOCATION AND TRADE REGIMES””

Georgia encourages Chinese investors to take advantage of the country’s geographical location and liberal trade regimes to develop their business, Georgia’s Vice Premier and Minister of Economy and Sustainable Development Levan Davitashvili declared at the meeting with Chinese Vice Premier Ding Xuexian in Beijing.

As Davitashvili indicated, “We work closely with partner countries to develop and strengthen transport links between Europe and Asia”. More...

Bankebi da Finansebi: “NATIONAL BANK FINED “CREDITSERVICE+” 86,200 LARI”

National Bank of Georgia (NBG) fined the microfinance organization Creditservice+ 86,200 lari for a number of violations.

In particular, NBG reports about 1 case of incorrect submission of the requested information/documentation and significant shortcomings in operation of software (electronic) system at the organization. More...

Tabula: “COMCOM FINED “MTAVARI” 5,000 LARI – DECISION WILL BE APPEALED TO THE COURT”

Georgian National Communication Commission (ComCom) fined TV company Mtavari Arkhi 5,000 lari for refusing to air political advertisement for the ruling Georgian Dream. The TV company will appeal the decision in court. More...

Tabula: “SWEDISH EMBASSY BACKED “EVOLUTION GEORGIA””

On July 12, part of Evolution Georgia employees went on strike, demanding improvement of working conditions and increase of salaries.

On August 10, Evolution Georgia released a statement saying that the company is starting the process of staff cut and plans to lay off 1,000 employees. More...

AVERAGE HOTEL PRICES AND HOTEL PRICE INDEX IN GEORGIA (AUGUST 2024)

In Georgia, the average cost of a room¹ in a 3-star hotel was 184 GEL per night in August 2024, while the average cost of a room in a 4-star hotel in Georgia was 272 GEL per night and the average cost of a room in a guesthouse² was 114 GEL per night.

The average cost of a room in a 5-star hotel in Georgia in August 2024 was 586 GEL per night. More...