NBG: COUNTERCYCLICAL BUFFER IS STILL ZERO
At the meeting today, the committee on financial stability decided to keep the countercyclical buffer without change at the level of 0%, National Bank of Georgia (NBG) reported.
As NBG specified, the countercyclical buffer is set as form of supplement to minimum capital requirements for commercial banks, and its minimum volume is defined as 0-2.5% of total assets, weighed on risk.
NBG: CREDITING OF COMPANIES GROWS MODERATELY
Growth of crediting of companies is moderate, National Bank of Georgia (NBG) declared. In 2017, growth of credits, issued by banks to companies, excluding effect of exchange rate, made up 12.1%, NBG said.
NBG: FRAMEWORK OF RESPONSIBLE CREDITING WILL BE DEVELOPED
In accord with international practice and European directives, framework of responsible crediting will be developed, National Bank of Georgia (NBG) declared. Such decision was made at today’s meeting of NBG’s committee on financial stability.
EMPLOYERS ASSOCIATION OFFERS OUTSOURCING OF LABOR MANAGEMENT AND LABOR SAFETY
Georgian Employers Association declared about development of new package of services – outsourcing of labor management and labor safety.
This innovation will be interesting to small and medium companies, which, as a rule, do not possess the corresponding material and human resources for overcoming internal entrepreneurial risks, the Association said.
TERMS OF PAYMENT FOR RIGHT OF RADIO-FREQUENCY RANGE USE ARE CHANGED
Since March 1, cost of the right of radio-frequency range use should be paid in the budget of National Communication Commission. Besides, volume of to-be-paid sum is changed too, the Commission pointed.
CURRENTLY, THERE ARE ONLY 2 DIRECT CONSUMERS OF ELECTRICITY
National Energy and Water Supply Regulating Commission reported that at this stage, direct consumers of electricity are represented in Georgia by 2 companies only. These are GWP (Tbilisi water and sewerage company) and Georgian Manganese (metallurgical company in Chiatura, Imereti region).
YOUNG FINANCIERS AND BUSINESSMEN ASSOCIATION POINTS AT DIFFERENCE BETWEEN DECLARED AND FACTUAL COST OF CONSTRUCTION OF SAMTREDIA-GRIGOLETI SECTION OF HIGHWAY
The government saved 32.4 million lari in the 2nd lot on construction of Samtredia-Grigoleti section of the highway (E60), Young Financiers and Businessmen Association declared.
In particular, all official statements mention the sum of 253 million lari, but construction of the section costs 220 million lari in fact, the Association asserted, referring to information obtained from Roads Department.
“DISCOUNT WEEK” IN AJARA TO LAST UNTIL MARCH 11
“Discount Week”, which started in Ajara on February 24, will last until March 11, Georgian National Tourism Administration reported.
As the Administration noted, participation in the event can be taken by hotels with at least 39 rooms, which offer discounts of 30% and above.
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