Georgian English Russian Main Register Company Partners Feedback
Sarke Information Agency
Georgian/English/Russian Menu

Daily News
Economic Press Monitor
Special Report
 
Georgian Business Ethics Web Conference


DAILY NEWS January 18, 2018

IN 2017, RESERVE ASSETS OF NBG INCREASED BY 10.3%

National Bank of Georgia (NBG) reported that official reserve assets amounted as of end of 2017 to $3.04 billion. If compared with the same period of 2016, the volume has increased by 10.3%. More...


IN 2017, PROFIT OF COMMERCIAL BANKS INCREASED BY 28.1%

National Bank of Georgia reported that net profit of commercial banks amounted as of December 31, 2017, to 869.8 million lari. If compared with the same period of 2016, the volume has increased by 28.1%. More...


REGIONAL PROJECTS FUND TO ALLOCATE 125.29M LARI TO MUNICIPALITIES

At the meeting today, the government approved the order regarding allocation of money from fund for implementation of projects in regions of Georgia to municipalities of the country.

The matter concerns implementation of 331 projects with total cost of 125.29 million lari. More...


STATE PROGRAMS ON EMPLOYMENT ASSISTANCE AND LABOR MARKET ANALYSIS ARE APPROVED

The government approved state programs on employment assistance and labor market analysis.

Budget of the state program on development of employment-assisting services for 2018 amounts to 700,000 lari. More...


“HUB GEORGIA” ACCUSES “GEORGIAN AIRPORTS ASSOCIATION” OF VIOLATIONS

HUB Georgia (non-governmental organization, studying transport issues) declared that state-owned LLC Georgian Airports Association conducts with violations the tenders on domestic flights’ implementation.

HUB Georgia indicated that in 2016, local airlines were unable to take part in tender, announced by Georgian Airports Association, because of its 2-month duration and the tender was cancelled. More...


DEPUTY MINISTER OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: THE STATE WILL BE READY SOON TO FIGHT AGAINST BROWN MARMORATED STINK BUG

Deputy Minister of Environmental Protection and Agriculture Giorgi Khanishvili assures that “soon, the state structure will be completely ready to fight against brown marmorated stink bug” (pest, causing significant loss to Wester Georgia last year).

“Since 2018, the state changes method of fight against marmorated stink bug and considers as working area that public space also, which can facilitate spread of the pest”, Khanishvili said. More...


WITHIN “MYSTICAL CONSUMER” PROJECT, REGULATING COMMISSION REVEALED VIOLATIONS IN DISTRIBUTORS’ SERVICE

National Energy and Water Supply Regulating Commission declared that “mystical consumer” project was implemented for the first time in energy and water supply sectors. The project applied to TELASI (Tbilisi energy distributor), KazTransGas-Tbilisi (Tbilisi gas distributor) and GWP (Tbilisi water supply and sewerage company). More...


“MAGTICOM” SUSPENDED GROWTH OF TARIFFS

MagtiCom “has took written request of National Communication Commission and suspended temporarily launch of changes of tariffs”, the mobile operator declared.

The operator had planned to raise tariffs since January 18 of this year. More...


LAND PLOT IN BAKURIANI IS PUT ON AUCTION FOR HOTEL CONSTRUCTION

Land plot in alpine resort Bakuriani is offered to investors within “50 Objects for Your Hotel” project (one of the components of “Produce in Georgia” state program).

The site of 12,468 square m is located nearby to ski slope of Didveli. More...


NEW HOTEL TO BE OPENED IN AKHASHENI VILLAGE OF KAKHETI REGION

Ministry of Economy and Sustainable Development declared that within “Produce in Georgia” state program, new hotel will be opened in Akhasheni village of Gurjaani municipality (Kakheti region). The 41-room hotel should start operation in March. More...


ECONOMIC PRESS MONITOR January 18, 2018

Rezonansi: “ELECTRICITY OF “ENGURHES” WAS NOT ENOUGH TO ABKHAZIA ALREADY IN DECEMBER”

Referring to electricity balance of Georgia, the newspaper reports that electricity, generated by EngurHES in December 2017, amounted to 227 million kWh, while Abkhazia got 241 million kWh during this period.

The article notes that generation of Georgia’s heat stations totaled in the reporting month to 393 million kWh, while import amounted to 134 million kWh. More...


Bankebi da Finansebi: “GEORGIA AND CHINA TO OFFER VISA-FREE REGIME TO TOURIST GROUPS”

David Aptsiauri, Georgian ambassador to China, declared that Georgia and China plan to sign this year agreement on visa-free travel for tourist groups.

The ambassador said the mentioned on air of TV company Maestro and noted that thorough study of Chinese market is necessary, as this is specific country and requires special knowledge. More...


Forbes Georgia: “NONA MAMULASHVILI ELECTED AS PRESIDENT OF SWITZERLAND-GEORGIA BUSINESS ASSOCIATION”

Nona Mamulashvili is elected the president of Switzerland-Georgia Business Association with office terms of 4 years, the magazine reports.

In parallel, Mamulashvili occupies post of vice-president of Georgia branch of International Chamber of Commerce (ICC-Georgia). More...


Tabula: “IVANISHVILI’S PERSONAL BANKER AVOWS THAT HE FORGED THE BILLIONAIRE’S SIGNATURE SINCE 2008”

On the trial in Geneva, Patrice Lescaudron, Credit Suisse former personal banker of Georgia’s billionaire ex-premier Bidzina Ivanishvili, avows that starting from 2008, he forged signature of the client, Tabula says.

The article reports that Lescaudron conducted transactions, which lack Ivanishvili’s authorization, inflicting thus damage of $150 million to the billionaire. More...


SPECIAL REPORT December 19, 2017

TAX & LAW BRIEF

DRAFT AMENDMENTS TO THE LAW OF GEORGIA ON ACCOUNTING, REPORTING AND AUDIT

- The Parliament of Georgia has passed the draft law on the first hearing, which provides that the deadlines for adoption of the legislative act on valuation activities and financial reporting standards shall be postponed.

- According to the draft law, legislative act on valuation activities shall be adopted no later than 31 December 2018, instead of 31 December 2017. More...


Exchange Rates (NBG)
  01/18/18 + / -
  USD   2.5429   0.0034
  EUR   3.1082   0.0072
  RUR   4.4825   0.0126
Announcements
Happy New Year!

We wish you peace, happiness and prosperity!

We will resume our operation on January 8.

Sincerely,

Sarke Information Agency

Fujitsu Computer Systems Corporation

© 2018 Sarke Information Agency