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Daily News


February 12, 2018

IN THIS ISSUE:

1. THE EU-GEORGIA COOPERATION IN ENERGY SECTOR DISCUSSED AT THE ECONOMY MINISTRY
2. 380,000 EUR ALLOCATED FOR CREATION OF EFFECTIVE PLATFORM OF BUSINESS ACTIVITY IN BOLNISI
3. REHABILITATION OF BAGDATI-ABASTUMANI-BENARA ROAD IS COMPLETED
4. “COLLIERS INTERNATIONAL GEORGIA”: RECENTLY DEMAND FOR CO-WORKING SPACE GROWS IN TBILISI
5. “IPM”: IN TERMS OF ACTIVITY IN MEDIA, FINANCIAL SECTOR IS STILL IN THE LEAD
6. SHARE OF “GEORGIA CAPITAL” IN “BANK OF GEORGIA GROUP” TO BE 19.9%
7. IN Q4 OF 2017, PROFIT OF “BASISBANK” DECREASED BY 5.7% Y-O-Y
8. IN Q4 OF 2017, PROFIT OF “CARTU” BANK DECREASED BY 7% Y-O-Y
9. “SILK ROAD BANK” FINISHED Q4 OF 2017 WITH LOSS OF 495,555 LARI
10. “LIDER FOOD” LAUNCHED NEW MEAT ENTERPRISE

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1. THE EU-GEORGIA COOPERATION IN ENERGY SECTOR DISCUSSED AT THE ECONOMY MINISTRY
Politics

Today Georgia’s Minister of Economy and Sustainable Development Dimitri Kumsishvili held a meeting with director of secretariat of the EU Energy Community Janez Kopac.

As the Ministry reported, the parties discussed issues of cooperation between Georgia and the EU in energy sector.

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2. 380,000 EUR ALLOCATED FOR CREATION OF EFFECTIVE PLATFORM OF BUSINESS ACTIVITY IN BOLNISI
Economics

Total budget of the project of creation of effective platform of business activity in Bolnisi amounts to 380,000 EUR, reported Bolnisi municipality (Kvemo Kartli region).

As the municipality noted, financing is allocated within pilot project of the EU initiative “Mayors for Economic Growth” (M4EG).

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3. REHABILITATION OF BAGDATI-ABASTUMANI-BENARA ROAD IS COMPLETED
Economics

Ministry of Regional Development and Infrastructure reported about completion of rehabilitation of 4.6-km section of Kutaisi-Bagdati-Abastumani-Benara road. The works were started in November 2017.

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4. “COLLIERS INTERNATIONAL GEORGIA”: RECENTLY DEMAND FOR CO-WORKING SPACE GROWS IN TBILISI
Economics

Colliers International Georgia (real estate services) declared that recently, demand for co-working space is increasing in Tbilisi.

Growing tendency of co-working space is observed in the city, but there are also undeveloped areas, Colliers International Georgia pointed.

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5. “IPM”: IN TERMS OF ACTIVITY IN MEDIA, FINANCIAL SECTOR IS STILL IN THE LEAD
Economics

Financial sector, which was a leader of 2016 in terms of activity in local media, did not yield position in 2017 too, Institute for Polling and Marketing (IPM) reported.

However, number of media coverages of this sector in 2017 slightly decreased, IPM noted.

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6. SHARE OF “GEORGIA CAPITAL” IN “BANK OF GEORGIA GROUP” TO BE 19.9%
Business

Investment BGEO Group confirmed today that split of the group into two independent companies will be completed in the first half of this year. As a result, Bank of Georgia Group (banking direction) and Georgia Capital (investment direction) will be created.

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7. IN Q4 OF 2017, PROFIT OF “BASISBANK” DECREASED BY 5.7% Y-O-Y
Business

Basisbank reported net profit of 19.59 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has decreased by 5.7%.

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8. IN Q4 OF 2017, PROFIT OF “CARTU” BANK DECREASED BY 7% Y-O-Y
Business

Cartu bank reported net profit of 36.82 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has decreased by 7%.

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9. “SILK ROAD BANK” FINISHED Q4 OF 2017 WITH LOSS OF 495,555 LARI
Business

Silk Road Bank reported loss of 495,555 lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has reduced 4.4 times.

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10. “LIDER FOOD” LAUNCHED NEW MEAT ENTERPRISE
Business

Lider Food company, which launched new meat enterprise with assistance of the state program “Produce in Georgia”, has invested 22 million lari, the Ministry of Economy and Sustainable Development said.

The enterprise, which occupies area of 5,600 square m, employs 550 people, the Ministry noted.

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Exchange Rates (NBG)
  09/20/18 + / -
  USD   2.6193   0.0014
  EUR   3.0693   0.0087
  RUR   3.9538   0.0451
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