Daily News July 9, 2018	Days:  05 06 09 10 11

politics

INITIATION OF DRAFT BILL “ON CUSTOMER RIGHTS PROTECTION” IS PLANNED AT THE AUTUMN SESSION OF THE PARLIAMENT

Initiation of the draft bill “On Customer Rights Protection” is planned at the autumn session, the Parliament’s Committee for European Integration reported. In September-October, consideration of the draft together with interested groups has to be held.




ANNUAL CONFERENCE OF BSCEE GROUP GATHERED REPRESENTATION OF 18 COUNTRIES

Annual conference of Group of Banking Supervisors from Central and Eastern Europe (BSCEE) was held in Georgia, gathering 32 representatives from 18 countries, National Bank of Georgia (NBG) reported.

Tbilisi conference scoped completion of Basel III reform, methodology of stress tests and solvency analysis for mitigation risks of excessive debts, NBG said.




GEORGIAN WINE AGENCY: JAPAN’S PROCEDURES OF GEORGIAN WINE IMPORT SIMPLIFY

4 Georgian labs were put in list of foreign laboratories, registered in Japan, Georgian National Wine Agency reported. The Agency indicated that this will significantly simplify procedures of Georgian wine import to this country.

economics

WHEAT HARVEST IN KAKHETI IS EXPECTED AT 230,000 T

Georgian Ministry of Environmental Protection and Agriculture reported that wheat harvest in Kakheti region, where crops area makes up 67,000 ha, is expected to make up 230,000 t.

Harvest of barley, sown on total area of 19,000 ha, is expected to make up 58,000 t.




“SEED THE FUTURE” STATE PROGRAM FUNDED NEW ORCHARDS PLANTING ON 5,264 HA

 Georgian Ministry of Environmental Protection and Agriculture reported that within state program “Seed the Future”, planting of orchards is funded on area of 5,264 ha countrywide.

Out of total, area of orchards in Kakheti region totals to 1,820 ha, the Ministry said.

business

“AJARA TEXTILE” PRODUCES AND EXPORTS OVER 10M ITEMS ANNUALLY

Ajara Textile company, owning sewing factories in Batumi, Kobuleti and Poti, currently produces and exports over 10 million items annually, Georgian Economy Development and Sustainable Development Ministry’s Agency Produce in Georgia reported.

The company is beneficiary of “Produce in Georgia” state program, enjoying 2-year state co-funding of credit interest (the program’s component of financial support), as well as getting state property for symbolical price (component of infrastructural support).




NEXT EMISSION OF BONDS OF “GEORGIAN LEASING COMPANY” ADMITTED TO TRADES ON GEORGIAN STOCK EXCHANGE

Next emission of bonds of Georgian Leasing Company, wholly owned by Sakartvelos Banki (Bank of Georgia), was admitted recently to trades on Georgian Stock Exchange.

The matter concerns 5,000 bonds with maturity of 3 years (mature until June 22, 2021) and total value of $5 million (annual coupon rate – 6.5%).




CORPORATE PORTFOLIO OF “GEORGIAN LEASING COMPANY” TARGETS CONSTRUCTION AND SERVICE SECTORS

Georgian Leasing Company reported that as of December 31, 2017, corporate clients accounted for 78% of its total portfolio volume. In turn, retail clients accounted for 79% of total number of the company’s active clients (1,255).