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Daily News


May 19, 2017

IN THIS ISSUE:

1. IMF FORECAST: IN 2017, ECONOMIC RECOVERY IN THE REGION OF THE CAUCASUS AND CENTRAL ASIA IS EXPECTED
2. THE GOVERNMENT SECURITIES, EMITTED IN LARI, INCREASED IN Q1 BY 5.4%
3. IN AJARA, NBG FINED 13 CURRENCY EXCHANGE OFFICES AND CANCELLED REGISTRATION TO 34 ONES
4. FUNDS ARE ALLOCATED FOR JUSTICE MINISTRY FOR COVERING OF ARBITRATION COSTS
5. PARTNERSHIP FUND: COOPERATION AGREEMENT WILL BE SIGNED WITH CHINESE “SINOSURE”
6. THE GOVERNMENT PLANS TO CANCEL CONTRACT WITH “CHINA RAILWAY 23RD BUREAU GROUP CO.”
7. “GLOBAL BRAND” TO PROCURE CONSULTING SERVICE FOR GEORGIAN WINE DELIVERY TO THE US
8. “SKY TOWER” HOTEL OPENED IN BATUMI
9. ECONOMY MINISTRY: OVER 10,000 TICKETS FOR CONCERT OF “AEROSMITH” ARE SOLD
10. “ROSTO-2016” GOT LAND PLOTS IN RENT WITHIN “GEORGIAN TEA” STATE PROGRAM
11. CRIMINAL CASE LAUNCHED AGAINST TWO PERSONS BECAUSE OF MISSPENDING OF CONSIDERABLE FUNDS OF CITIZENS

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1. IMF FORECAST: IN 2017, ECONOMIC RECOVERY IN THE REGION OF THE CAUCASUS AND CENTRAL ASIA IS EXPECTED
Economics

“After a significant slowdown in economic activity in 2016, growth in the Caucasus and Central Asia region is expected to pick up in 2017”, IMF expects. Besides, this growth will “further accelerate in 2018”, IMF forecasts.

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2. THE GOVERNMENT SECURITIES, EMITTED IN LARI, INCREASED IN Q1 BY 5.4%
Economics

National Bank of Georgia (NBG) reported that the government’s securities, emitted in national currency, amounted as of March 31 to 2.3 billion lari. The volume has increased by 5.4% quarter-on-quarter and by 27.7% – year-on-year.

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3. IN AJARA, NBG FINED 13 CURRENCY EXCHANGE OFFICES AND CANCELLED REGISTRATION TO 34 ONES
Economics

National Bank of Georgia (NBG) reported results of inspection, conducted in 47 currency exchange offices, located in Ajara.

Due to violation of respective requirements, 13 offices were fines with total sum of 280,400 lari, NBG said.

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4. FUNDS ARE ALLOCATED FOR JUSTICE MINISTRY FOR COVERING OF ARBITRATION COSTS
Economics

According to the government’s order, funds are allocated for the Justice Ministry for fulfillment of liabilities and payment of expenses, related to arbitration.

As the document specifies, payment of expenses is envisaged by amicable agreement, signed between Raiffeisen Bank International AG and Georgia on December 21, 2015.

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5. PARTNERSHIP FUND: COOPERATION AGREEMENT WILL BE SIGNED WITH CHINESE “SINOSURE”
Economics

Georgian Partnership Fund declared that delegation of China Export and Credit Insurance Corporation (Sinosure) plans to visit Georgia. Within the visit, a cooperation agreement will be signed between the Fund and Sinosure.

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6. THE GOVERNMENT PLANS TO CANCEL CONTRACT WITH “CHINA RAILWAY 23RD BUREAU GROUP CO.”
Business

Georgian government gave consent to Roads Department on launch of procedures for cancellation of the contract, signed between the Department and China Railway 23rd Bureau Group Co., Ltd.

According to respective order of the government, the matter concerns the contract on construction of Samtredia-Grigoleti road section by the Chinese company, which was signed on December 24, 2014.

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7. “GLOBAL BRAND” TO PROCURE CONSULTING SERVICE FOR GEORGIAN WINE DELIVERY TO THE US
Business

The government authorized LLC Global Brand to procure by simplified procedure a consulting service for delivery of Georgian wine to the US and its promotion there. According to respective order of the government, total cost of the contract should not exceed $810,000 (VAT exclusive),

At that, the company will procure goods (bottles, corks, labels, transport service, etc.), related to delivery of Georgian wine to the US, in the same simplified way.

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8. “SKY TOWER” HOTEL OPENED IN BATUMI
Business

Today, Turkish company Metro has opened hotel Sky Tower in Batumi, the government of Ajara reported. Investments in the hotel have amounted to $20 million, the government said.

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9. ECONOMY MINISTRY: OVER 10,000 TICKETS FOR CONCERT OF “AEROSMITH” ARE SOLD
Society

Georgian Ministry of Economy and Sustainable Development reported that over 10,000 tickets are sold for concert of Aerosmith, which will take place in Georgia on May 20. Tickets were sold in about 3 hours, the Ministry noted.

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10. “ROSTO-2016” GOT LAND PLOTS IN RENT WITHIN “GEORGIAN TEA” STATE PROGRAM
Business

According to the government’s order, the state-owned real estate is given in rent to LLC Rosto-2016 within “Georgian Tea” state program.

The matter concerns agricultural (arable) land plots with total area of 65,940 square m, located in the city of Tsalenjikha (Samegrelo region).

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11. CRIMINAL CASE LAUNCHED AGAINST TWO PERSONS BECAUSE OF MISSPENDING OF CONSIDERABLE FUNDS OF CITIZENS
Society

Investigative Service of the Finance Ministry declared that, criminal case was launched against two persons, being accused of group misspending of citizens’ funds in large amount by previous concert.

The accused (Georgian citizen Margarita Zhiznevskaya and Russian citizen Igor Volkov) had left Georgia prior to investigation, so the court awarded pre-trial detention to them in absentia and issued the decree on their search, the Service reported.

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  06/28/17 + / -
  USD   2.4074   0.0001
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