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Daily News

July 6, 2018

Previous Issues:  Days: < 04 05 06 09 10 > 

 

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politics

    THE PARLIAMENT TO VOTE CONFIDENCE IN THE GOVERNMENT ON JULY 15

    Tamar Chugoshvili, first vice speaker of the Parliament, declared that the Parliament will vote confidence in new composition of the government and its program on July 15.

    On July 5, the Parliament adopted in second reading (84 votes pro and 1 – contra) the legislative package on structural reorganization of the government.


economics

    PERSONS, VOLUNTARILY JOINED ACCUMULATIVE PENSION SYSTEM, TO BE ABLE INDEPENDENTLY CHOOSE ASSET MANAGING COMPANY

    Deputy Minister of Economy and Sustainable Development Ekaterina Mikabadze declared that those persons, who will voluntarily take part in accumulative pension system, will have an opportunity to choose independently the asset managing company.

    The corresponding provision was added to the draft bill “On Accumulative Pension” following its consideration in first hearing by the Parliament.


    RULES ADOPTED OF ACTIVITY SUPERVISION, REGULATION AND CLASSIFICATION OF ASSETS OF MICROFINANCIAL ORGANIZATIONS

    National Bank of Georgia (NBG) declared about adoption of rules of supervision and regulations of activity of microfinancial organizations, classifications of their assets and formation of loan loss reserve.

    The rules establish economic standards and limits to microfinancial organizations, such as capital, liquidity, investments coefficients, and order of calculation of supervising capital.


    RULE ADOPTED OF BROKER COMPANIES’ LICENSING AND REGULATION

    By order of president of National Bank of Georgia (NBG), rule of broker companies’ licensing and regulation is adopted.

    Minimal volume of equity capital of broker companies is established at 500,000 lari.


    WITHIN REFORM OF LAND REGISTRATION, OVER 500,000 APPLICATIONS ARE REGISTERED

    Within reform of land registration, envisaging simplified registration procedures, over half a million applications are registered, National Agency of Public Register reported.

    At this stage, about 25,000 applications are sent from the Register to the commission on property right recognition, while on 67,000 applications, the Register conducts on behalf of applicants search of necessary documentation in various departments.


    ADB PROJECTS DISCUSSED IN THE FINANCE MINISTRY

    On July 5, meeting with executive director of Asian Development Bank (ADB) Helmut Fischer was held in Georgian Finance Ministry. As the Ministry said, the parties discussed ongoing projects, being implemented with assistance of ADB, as well as planned projects.


business

    IN Q1, “ALDAGI” ACCOUNTED FOR 58.8% OF TOTAL PENSION INSURANCE CONTRIBUTIONS

    State Service for Insurance Supervision reported that as of March 31, insurance pension contributions totaled to 1.45 million lari, doubling in comparison with the same period of 2017.

    Out of total volume, Aldagi accounted for 851,877 lari (year-on-year growth – 6.5%).


society

    EMC FILED A SUIT AGAINST CONSTRUCTION OF HYDROELECTRIC STATION IN PANKISI GORGE

    On behalf of residents of Pankisi Gorge (Akhmeta municipality of Kakheti region), Human Rights Education and Monitoring Center (EMC) filed recently a suit against construction of KhadorHES-3 in the gorge.

    Claimant points at high risk for ecology and social environment of the gorge in case of construction of the third hydroelectric station there.


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