Daily News March 9, 2017	Days:  06 07 09 10 13

politics

GEORGIAN PREMIER: NEW PHASE OF GEORGIA-ITALY RELATIONS BEGINS

New phase of Georgian-Italian relations has begun, Georgia’s Prime Minister Giorgi Kvirikashvili declared.

As the Premier said, within his visit to Italy on March 8, “we have been assured that our relations will advance to a strategic level”.

economics

EU REPRESENTATION: GEORGIA SELECTED AS PILOT COUNTRY FOR ENERGY EFFICIENCY MEASURE

Representation of EU to Georgia declared that Georgia, along with Ukraine, Serbia and Tunisia, has been selected as pilot country for energy efficiency measures.

After completion of respective missions in the selected countries, European Commission, together with international financial institutions, will identify priority areas for support of energy efficiency measures in public and private buildings, the representation said.




NUMBER OF HOTEL ROOMS IN TBILISI IN 2016 INCREASED BY 19.5% Y-O-Y, WHILE BED CAPACITY – BY 12.7%

Number of hotel rooms in Tbilisi increased in 2016 by 19.5% year-on-year, while bed capacity – by 12.7%, investment company Galt&Taggart reported.

The company indicated that 29.0% of Georgia’s room supply is located in Tbilisi, with international branded hotels comprising 22.3% of the Tbilisi room stock.

business

REGULATORY COMMISSION: ADMINISTRATIVE PROCEEDINGS BEGAN ON TARIFF DEFINITION FOR “KAZTRANSGAS-TBILISI” AND “GEORGIAN GAS TRANSPORTATION COMPANY”

Georgian National Energy and Water Supply Regulatory Commission has started administrative proceedings in order to establish tariffs for KazTransGas-Tbilisi and Georgian Gas Transportation Company.

The matter concerns tariffs for natural gas supply, distribution, transition and consumption.




OUT OF TOTAL LOANS, ISSUED IN 2016 BY COMMERCIAL BANKS, “TBC BANK” ACCOUNTS FOR 38.9%, WHILE “SAKARTVELOS BANKI” – FOR 32.7%

Out of total loans, issued as of December 31, 2016, by Georgian banking sector, two banks (TBC Bank and Sakartvelos Banki (Bank of Georgia)) account for 71.6%.

At that, TBC Bank’s share makes up 38.9%, of which 7.8% accounts for Republic, acquired by TBC Bank last year.




OUT OF TOTAL BANKING ASSETS IN 2016, 36.8% FELL ON “TBC BANK”, WHILE 33.5% – ON “SAKARTVELOS BANKI”

Out of total assets of Georgian banking sector as of December 31, 2016, two banks (TBC Bank and Sakartvelos Banki (Bank of Georgia)), account for 70.4%.

At that, TBC Bank’s share makes up 36.8%, of which 6.8% accounts for Republic, acquired by TBC Bank last year.




OUT OF TOTAL DEPOSITS OF BANKS’ CLIENTS IN 2016, “TBC BANK” ACCOUNTED FOR 37.8%, WHILE “SAKARTVELOS BANKI” – FOR 32.2%

Out of total clients’ deposits of Georgian banking sector as of December 31, 2016, two commercial banks (TBC Bank and Sakartvelos Banki (Bank of Georgia)) account for 70%.

At that, TBC Bank’s share makes up 37.8%, including 4.8% of Republic, acquired by TBC Bank last year.




“PROCREDIT BANK” TO ISSUE LOANS WITHIN “INNOVFIN” AGREEMENT

European Investment Fund (EIF) announced that under InnovFin agreement, Georgia’s ProCredit Bank will issue loans to innovative companies over the next 2 years.

EIF pointed that this agreement is the first of its kind in Georgia and it was signed under the guarantee, provided by EIF within Horizon 2020, the EU Framework Program for Research and Innovation.




“ALLIANCE GROUP” TO BUILD “WYNDHAM GARDEN” HOTEL IN TBILISI

Alliance Group announced plans to build a Wyndham Garden premium class hotel in Tbilisi (on Chavchavadze Avenue), investment company Galt&Taggart reported. This will be the group’s first project in the capital city of Georgia, with most of its projects located in Ajara.




SEVERAL HOTELS TO BE OPENED IN GEORGIA UNDER MANAGEMENT OF “GOLDEN TULIP”

Several new hotels will be opened in Georgia under management of Golden Tulip, investment company Galt&Taggart reported.

Particularly, 80-room hotel Golden Tulip should be launched in Tbilisi in summer of 2017.