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Daily News

October 6, 2017

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politics

    “TI GEORGIA” INDICATES POOR TRANSPARENCY AND REPORTING QUALITY AND BUSINESS TIES OF OFFICIALS AT TBILISI SAKREBULO

    TI Georgia, Georgian branch of Transparency International, released report on 3-year activity of Tbilisi Sakrebulo (city council) of the 5th convocation, which indicates poor quality of transparency and reporting of this body and business ties of officials there.

    In particular, TI Georgia points that out of 24 officials at Sakrebulo, 10 have business ties.


economics

    AS OF SEPTEMBER, LARI SUPPLY INCREASED BY 13.9% Y-O-Y

    National Bank of Georgia reported that lari supply in the end of September amounted to 3.15 billion lari. If compared with the same period of 2016, the volume has increased by 13.9% (by 383.63 million lari).


    GEORGIA AND KAZAKHSTAN DISCUSSED ISSUES OF TRADE AND ECONOMIC COOPERATION

    Today, the 9th meeting of Georgian-Kazakhstan intergovernmental economic commission was held in Tbilisi, administration of Georgian government reported.

    The meeting was attended by Kazakh Minister for Investments and Development Zhenis Kasymbek, who also met Georgia’s Prime Minister Giorgi Kvirikashvili today.


    “GEORGIAN RAILWAY” GOT RIGHT OF EXPROPRIATION FOR PUBLIC NEEDS

    By order of the Minister of Economy and Sustainable Development, state-owned JSC Georgian Railway received right of property expropriation for urgent public needs.

    As the order explains, Georgian Railway implements project of modernization of main railroad Tbilisi-Makhinjauri, which envisages construction of 6 railway tunnels (3 ones are already constructed).


business

    “WIZZAIR” TO START NEXT YEAR FLIGHTS FROM KUTAISI ON 4 NEW DIRECTIONS

    Since May 2018, WizzAir from will conduct flights between Kutaisi and 4 new destinations (Rome, Paris, Barcelona, Prague), commercial director of the Hungarian lowcoster George Michalopulos declared. Overall, the airline will have flights to 16 destinations in 11 countries of Europe.


    PROSPECTS OF COOPERATION WITH ITALIAN “SIMEST” DISCUSSED IN PARTNERSHIP FUND

    Georgian Partnership Fund reported that meeting was held with Salvatore Rebecchini, chairman of Italian company Simest, who took part in recent Georgian-Italian business forum in Tbilisi.

    At the meeting, the parties discussed prospects of cooperation, touching upon investment projects in agricultural and healthcare spheres, the Fund said.


    AS OF JUNE 30, PROFIT OF “LIBERTY BANK” INCREASED BY 58.2% Y-O-Y

    Liberty Bank reported net profit of 20.19 million lari as of June 30. If compared with the same period of 2016, the volume has increased by 58.2%.


    AS OF JUNE 30, PROFIT OF “VTB BANK GEORGIA” INCREASED BY 76.8% Y-O-Y

    VTB Bank Georgia reported net profit of 15.79 million lari as of June 30. If compared with the same period of 2016, the volume has increased by 76.8%.


    AS OF JUNE 30, PROFIT OF “PROCREDIT BANK” REDUCED BY 41.8% Y-O-Y

    ProCredit Bank reported net profit of 6.53 million lari as of June 30. If compared with the same period of 2016, the volume has decreased by 41.8%.


    MEAT AND FISH PROCESSING ENTERPRISE OPENED IN GORI MUNICIPALITY WITHIN “UNIFIED AGROPROJECT”

    Agriculture Ministry reported that LLC Batono has opened within “Unified Agroproject” a meat and fish processing enterprise in Gori municipality (Shida Kartli region).

    Investments in the enterprise amounted to $459,833, including grant of $183,933 and preferential agrocredit of $229,917, the Ministry said.


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