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DAILY NEWS May 25, 2018

GEORGIAN PREMIER: THE US-GEORGIA STRATEGIC RELATIONS ARE ENRICHED WITH VARIOUS DIMENSIONS

The US-Georgia bilateral strategic relations are enriched with various dimensions, Georgia’s Prime Minister Giorgi Kvirikashvili declared today, estimating results of visit to the US of government delegation of the country (May 21-23).

According to the Premier, proceeding from Georgia’s position in the region and special character of our relations with the US, we can unambiguously tell that importance of Georgia increases. More...


GEORGIAN GOVERNMENT: THE RUSSIAN SIDE SIGNED CONTRACT WITH SWISS “SGS”

Within Georgian-Russian informal dialogue, next meeting between Zurab Abashidze, Georgian Premier’s special envoy in relations with Russia, and Grigory Karasin, Russia’s Deputy Foreign Minister, took place on May 23 in Prague (Czech Republic).

Russian party informed Georgian envoy on signing on May 18 of contract with Swiss company SGS, Georgian government reports. More...


GEORGIA AND GERMANY AGREED ON COOPERATION IN DEVELOPMENT OF MARINE TRANSPORT AND PORT INFRASTRUCTURE

Georgia and Germany agreed on cooperation in development of marine transport, port infrastructure and logistics, Georgian Ministry of Economy and Sustainable Development reported.

Respective joint declarations on intentions were signed in Leipzig (Germany), where annual summit of International Transport Forum (ITF) was held on May 23-24. More...


TBILISI HOSTED DISCUSSION ON DEVELOPMENT OF ENERGY INFRASTRUCTURE AND COMMUNICATIONS IN THE SOUTH CAUCASUS

Today, South Caucasian energy summit took place in Tbilisi, part in which was taken by representatives of Georgia, Azerbaijan and Armenia.

As Ministry of Economy and Sustainable Development reported, participants of the event had considered development of energy infrastructure and communications in the region of South Caucasus. More...


PRIME MINISTER: IT IS VERY IMPORTANT FOR US THAT NO FLUCTUATIONS, CAUSED BY EXCESSIVE INDEBTEDNESS, TO THREAT GEORGIA’S ECONOMY

It is very important for us that “no fluctuations, caused by excessive indebtedness, to threaten” economy of Georgia, Prime Minister Giorgi Kvirikashvili declared.

The Premier declared this at the government meeting today, where Finance Minister Mamuka Bakhtadze had presented the legislative amendments, targeting curb of problem of excessive indebtedness of population. More...


WITH ASSISTANCE OF THE EU, EXPERTS OF FAO DEFINED PRIORITY DIRECTIONS OF FOOD VALUE CHAIN IN GEORGIA

Preliminary study, conducted by the UN Food and Agriculture Organization (FAO) with assistance of the EU, identified such priority directions of Georgia’s food value chain as dairy and beef production, wheat, corn, potatoes, vegetables and fruits, FAO representation in Georgia reported.

The representation said that within the project worth 12 million EUR of European Neighborhood Program for Agriculture and Rural Development (ENPARD), experts of FAO conducted preparatory researches in 8 municipalities of Georgia. More...


POSSIBILITY OF FREE INDUSTRIAL ZONE LAUNCH IN RUSTAVI IS DISCUSSED

The Parliament’s Committee on Branch Economy and Economic Policy held today a field meeting in the office building of the Rustavi Metallurgical Plant.

At the meeting, first deputy of the Committee chairman, majoritarian MP from Rustavi Giorgi Begadze declared that it is important that free industrial zone was arranged in Rustavi, the Parliament reported. More...


NBG STARTS PUBLICATION OF INDICATIVE PRICES AND PROFITABILITY OF THE STATE SECURITIES

National Bank of Georgia (NBG) starts publication of indicative prices and profitability of the state securities, being in circulation. As NBG noted, these data are based on lari profitability curve. More...


ECONOMIC PRESS MONITOR May 25, 2018

Forbes Georgia: “NEW TRADING PLATFORM WILL BE INTRODUCED ON THE STOCK EXCHANGE UNTIL END OF THE YEAR”

On Georgian Stock Exchange, system of securities’ settlement will be renewed until end of the year, the magazine reports. Introduction of the main part of system is planned until end of 2018. More...


Tabula: “FLOODED “ENGURHES””

Accident happened at EngurHES this night, the first floor of the machine hall is flooded at 20 cm, Tabula reports.

According to technical director of EngurHES Gia Khubua, the possible reason is damage of turbine water supply system, because of what the main units of hydroelectric station are completely stopped. More...


Tabula: “TBILISI SAKREBULO RENAMED ROSE REVOLUTION SQUARE”

Tbilisi Sakrebulo (city council) renamed Rose Revolution Square into First Democratic Republic Square, Tabula reports. The decision was made at the meeting of Sakrebulo on May 25 and was supported by 30 deputies. More...


SPECIAL REPORT May 15, 2018

TAX & LAW BRIEF

IMPORTANT AMENDMENTS TO THE ORDER №49/04 OF THE NATIONAL BANK OF GEORGIA

Starting from 7 May 2018, new requirements apply to commercial banks while issuing loans to customers. According to the amendments:

- Banks shall assess customers’ (individuals, legal entities, organizations that are not legal entities) creditworthiness (income, expenditures, total liabilities) and all additional factors that might negatively affect customers’ liabilities. More...


Exchange Rates (NBG)
  05/25/18 + / -
  USD   2.4805   0.0071
  EUR   2.9044   0.0056
  RUR   4.0050   0.0289
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