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DAILY NEWS June 22, 2018

SWEDISH AMBASSADOR: I THINK WE NEED MORE INFORMATION ABOUT GEORGIA AS A MARKET AND AS A COUNTRY TO INVEST

I think we need more information about Georgia as a market and as a country to invest in, Swedish ambassador in Georgia Martina Quick said. I think many people in Sweden know too little about Georgia, including businessmen, she specified. More...


ARCHITECTURAL SERVICE OF TBILISI CITY HALL LAUNCHES REFORM OF SERVICES

Tbilisi City Hall reported that its Architectural Service launches reform of services’ provision, which aims “to address current challenges faced by the customers and simplify and optimize service delivery process”. As the City Hall noted, reform itself has to be completed by the end of 2018. More...


NBG BOUGHT $10M

National Bank of Georgia (NBG) declared about purchase of $10 million at the currency auction today. Average weighted exchange rate made up 2.4579 GEL/USD, NBG said. More...


PARTNERSHIP FUND BECAME SINGLE SHAREHOLDER OF JSC “BORJOMI LIKANI INTERNATIONAL”

Georgian Partnership Fund declared that it became owner of 100% of shares of JSC Borjomi Likani International. Commercial agreement between the Fund and the Kazakhstan’s KazMunaiGas-Service was signed on June 21 in Borjomi Likani hotel. More...


SWISS “STADLER” PLANS CONSTRUCTION OF REGIONAL PLANT IN GEORGIA

Stadler, Swiss manufacturer of railway rolling stock, plans construction of regional plant in Georgia. For that end, memorandum of cooperation was signed today between Stadler, Tbilisi City Hall and state-owned JSC Georgian Railway. More...


“SCHLUMBERGER RUSTAVELI COMPANY” STARTED DRILLING OF FIRST EXPLORATORY WELL ON PATARDZEULI FIELD

Georgian Oil and Gas Agency reported that Schlumberger Rustaveli Company Limited, Georgian subsidiary of the US oilfield services company Schlumberger, started drilling of the first exploratory well within an estimated stage of gas exploration program. Works are conducted on territory of the license block XIB in Patardzeuli (Kakheti region). More...


“FITCH RATINGS” AFFIRMED RATING OF “SILKNET” AT “B+”

Fitch Ratings reported that it affirmed rating of Georgian telecom company SilkNet at “B+”, while removed it from Rating Watch Positive. The outlook is “stable”. More...


“MYWAY AIRLINES” LAUNCHES REGULAR FLIGHTS TO TEL AVIV

During summer navigation season of 2018, Georgian Myway Airlines will conduct regular flights between Georgia and Israel. The airline got flight permission on June 21. More...


“VAZIANI” WINERY TO IMPLEMENT INVESTMENT AGROPROJECT WITH ASSISTANCE OF “SAKARTVELOS BANKI”

Sakartvelos Banki (Bank of Georgia) declared that it supports financially Vaziani winery in implementation of investment agroproject. The company acquired 120 ha in villages Gremi and Eniseli, in Kindzmarauli zone of Kakheti region. More...


FUND “CARTU”: THERE IS NO PRECEDENT THAT THE FUND STOPPED MONETARY ASSISTANCE BECAUSE OF BENEFICIARY’S POLITICAL VIEWS

In the history of Cartu charity fund, “there is no precedent that the Fund stopped rendering monetary assistance to beneficiary because of his/her political views or world outlook”, administration of the fund assures.

The administration said that in the statement, released today in connection with assistance to film director Giorgi Shengelaia. More...


ECONOMIC PRESS MONITOR June 25, 2018

Kviris Palitra: “BAKHTADZE HAS THE SAME PROBLEM, AS ALL PREMIERS HAD”

Expert Sandro Tvalchrelidze indicates that new Prime Minister Mamuka Bakhtadze has “the same problem, as all premiers of Georgian Dream had – he considers that government of the country is the same as management of the company”. However, “mechanisms are absolutely different”, the expert points. More...


Kviris Palitra: “WHAT WILL “BLEACH” “BLACK LIST”?”

Lasha Bagaturia, manager of credit bureau CreditInfo Georgia, explains that “there is no “black list” of debtors, there are “negative credit records”“. “630,000 people have at least one negative credit record”, he says. More...


Bankebi da Finansebi: “CZECH MEDICAL COMPANIES COULD ENTER GEORGIA”

Presentation of medical projects, offered by 5 Czech organizations, was held through cooperation of Czech embassy and Georgian Ministry of Labor, Healthcare and Social Protection, the newspaper reports.

In the presentation, such companies as MEDIN, ProSpon, ZPT, MZ Liberec and UJP Praha took part. More...


Bankebi da Finansebi: ““SAKARTVELOS BANKI” IS THE MAIN ACTOR IN CASE OF BANKRUPTCY OF “METALLINVEST””

Murtaz Ugulava, director and single owner of LLC Metallinvest (trade with construction materials), accuses Sakartvelos Banki (Bank of Georgia) of illegal actions. He demands from investigative authorities to assess legally actions of the bank and continues litigation with demand of compensation of the caused damage. More...


SPECIAL REPORT June 15, 2018

AVERAGE HOTEL PRICES IN GEORGIA AND HOTEL PRICE INDEX (MAY 2018)

- The 3-star, 4-star and 5-star hotel price index increased by 2% in May 2018 compared to April 2018;

- For guesthouses, the price index decreased by 1.8% in May 2018 compared to April 2018;

- According to Airbnb, in May 2018, looking at the self-governing cities of Georgia the highest average cost of an apartment was recorded in Batumi – US$48;

- In the first quarter of 2018, compared to the first quarter of 2017, the number of inbound visitors increased significantly in Imereti (by 67%) and Mtskheta-Mtianeti (by 47%).

AVERAGE HOTEL PRICES

In Georgia, the average cost of a room1 in a 3-star hotel was GEL 137 per night in May 2018. More...


Exchange Rates (NBG)
  06/25/18 + / -
  USD   2.4531   0.0047
  EUR   2.8561   0.0036
  RUR   3.8977   0.0022
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