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DAILY NEWS December 9, 2016

FDI IN Q3 LOWERED BY 4% Y-O-Y

Sakstat published preliminary data of the 3rd quarter, according to which foreign direct investments (FDI) to Georgia amounted to $463 million. If compared with adjusted data of same period of 2015, the volume has decreased by 4%. More...


LARGEST FDI IN Q3 WERE MADE FROM AZERBAIJAN, TURKEY AND LUXEMBURG

Sakstat published preliminary data of the 3rd quarter, according to which top three largest investor countries were Azerbaijan, Turkey and Luxemburg. Combined share of these three countries in total foreign direct investments in Georgia made up 68%. More...


THREE LARGEST SECTORS ACCOUNTED FOR 59% OF TOTAL FDI FOR Q3

According to preliminary data of Sakstat, 3 branches (transport and communications, construction and manufacturing) accounted for 59% of total foreign direct investments (FDI), made in Georgia during the 3rd quarter.

Largest FDI was made in transport and communications again. More...


EIB TO ALLOT 450M EUR TO GEORGIA

European Investment Bank (EIB) will allocate 450 million EUR to Georgia in terms of development of road infrastructure and agricultural production. The respective agreements have been signed in Tbilisi today. More...


“TI GEORGIA”: DESPITE THE OVERALL IMPROVEMENT OF ANTI-CORRUPTION LEGISLATION, ITS EFFECTIVE ENFORCEMENT STILL REMAINS A PROBLEM

TI Georgia, Georgian branch of Amnesty International, declared that “Despite the overall improvement of anti-corruption legislation, its effective enforcement still remains a problem”.

In the statement, released in connection with international Anti-Corruption Day the organization said: “Lack of law enforcement agencies’ independence weakens their skill to investigate effectively possible cases of high-level corruption”. More...


GYLA: DUE TO MULTIPLE VIOLATIONS OF OBLIGATIONS BY “INTERNATIONAL EVENTS”, THE GOVERNMENT SHOULD ANNUL CONTRACT WITH THIS COMPANY

Georgian Young Lawyers’ Association (GYLA) recommends the government to cancel contract with LLC International Events because of multiple violations of liabilities, undertaken by this company.

At that, “National Agency of State Property should make all efforts in order to make this LLC to repay fully its arrears to the state”, the organization points. More...


“TI GEORGIA”: PHARMACEUTICAL MARKET IS CHARACTERIZED WITH NOT SO DISTINCT CONCENTRATION OF THE MARKET POWER

“Pharmaceutical market is characterized with not so distinct concentration of the market power” and “could be characterized as weak oligopoly”, stated in the research of TI Georgia, Georgian branch of Transparency International. The study covers period of 2012-2016. More...


NATIONAL ENVIRONMENT AGENCY TO COOPERATE WITH GERMAN “DMT”

Ministry of Environment and Natural Resources Protection declared about signing of memorandum of understanding between its National Environment Agency and DMT GmbH & Co. KG, Germany-based company of geological engineering consulting.

The memorandum aims facilitation of mining industry development in Georgia, establishment of European standards in natural resources’ management, assessment of geological hazards and risks by means of new technologies, the Ministry said. More...


AGRICULTURE MINISTRY: $129,090 INVESTED IN “MUKHRANI AGRO”

Agriculture Ministry reported that $129,090 was invested in greenhouse farming Mukhrani Agro. That sum includes preferential agrocredit of $99,175 and owners’ investment of $29,915. More...


REGULATORY COMMISSION: NO IMPEDIMENTS EXIST TO APPROVAL OF MERGER OF “SILKNET” AND “GEORGIAN MEDIA NETWORK”

Georgian National Communication Commission reported that SilkNet and Georgian Media Network have requested preliminary consent on merger.

The Commission said that started proceedings established that the planned merger will not affect competition on electronic communication market. More...


REGULATORY COMMISSION: “IVERIA NETWORK” CONCEDED 1,000 SUBSCRIBER NUMBERS TO “AKHALI KSELEBI”

Georgian National Communication Commission reported that LLC Iveria Network was permitted to concede numeration resource to LLC Akhali Kselebi. The matter concerns 1,000 subscriber numbers in Zugdidi (Samegrelo region). More...


ECONOMIC PRESS MONITOR December 9, 2016

Tabula: “GOTSIRIDZE: THE GOVERNMENT HAS ALREADY TAKEN ILLEGALLY 170M LARI AS DOMESTIC DEBT”

Ex-president of National Bank of Georgia and member of United National Movement Roman Gotsiridze points that the government has taken again internal debt of 30 million lari from commercial banks. “Today, the government has exceeded the limit of 200 million, envisaged by law, by 170 million lari”, he states. More...


Tabula: “GLONTI: IRAKLI RUKHADZE WANTS TO BUY RADIO “MAESTRO”, HE IS STEWARD OF AUTHORITY”

The magazine reports that tax service conducts audit in FM radio Maestro since November, which had to be completed on December 23, but the deadline has been delayed.

Radio Maestro’s director and controlling stake’s owner Mamuka Glonti connects the mentioned tax audit with the government’s intention to take control over media market. More...


Bankebi da Finansebi: “TEMUR CHKONIA ON THE COUNTRY’S ECONOMY, BUSINESS ENVIRONMENT AND REORGANIZATION OF “COCA COLA””

In his interview with the newspaper, businessman Temur Chkonia states that his company, Coca-Cola Bottlers Georgia “has included several companies, but now we want to separate them, all will be independent”. For that end, the company will be reorganized into JSC instead of LLC, he says. More...


SPECIAL REPORT October 28, 2016

ANALYSIS OF EXTERNAL FACTORS AFFECTING ON GEL EXCHANGE RATE – I-III QUARTERS, 2016

In the third quarter of 2016, compared to the same period of 2015:

- The GEL appreciated against the USD by 0.12% on average;

- The negative trade balance increased (5.7%, USD 73.2 mln.);

- The volume of remittances increased (16.1%, USD 42.4 mln.);

- The volume of deposits denominated in USD also increased (35.8%, USD 1.5 mln.).

In the third quarter of 2016, compared to the same period of 2015, the GEL appreciated against the USD by 0.12% on average, while in the same period the GEL depreciated against the EUR by 0.23%. More...


Exchange Rates (NBG)
  12/09/16 + / -
  USD   2.5887   0.0149
  EUR   2.7474   0.0313
  RUR   4.1072   0.0435
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