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Daily News

September 9, 2020

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politics

    BECAUSE OF WORSENED EPIDEMIOLOGICAL SITUATION, GEORGIA INTRODUCED ADDITIONAL RESTRICTIONS

    Georgian government declared about introduction of additional restrictions because of recently worsened epidemiological situation in the country. Respective decision was made at today’s meeting of interdepartmental coordination council, created by the government for fight against COVID-19 spread.


economics

    IN Q2, FINANCIAL SECTOR, ENERGY AND CONSTRUCTION ACCOUNTED FOR 57% OF TOTAL FDI IN GEORGIA

    Sakstat released estimation, according to which in total volume of foreign direct investments (FDI), made in Georgia in the 2nd quarter ($237.8 million), three sectors accounted for 57%.

    Financial sector accounted for the largest volume – $78.1 million, or 32.9% of total FDI showing.


    IN Q2, THE UK LED IN TERMS OF FDI IN GEORGIA

    Sakstat released estimation, according to which in total volume of foreign direct investments (FDI), made in Georgia in the 2nd quarter ($237.8 million), the UK accounted for 24.8%, or $58.9 million. In the same period of 2019, FDI from this country had negative showing of $22.4 million.


    NBG AMENDED REQUIREMENTS TO INVESTMENT FINANCIAL INSTRUMENTS OF ACCUMULATIVE PENSION SCHEME

    On September 8, president National Bank of Georgia (NBG) issued an order, which amends requirements to minimum admissible credit rating of investment financial instruments of the accumulative pension scheme and methodology of the scheme assets’ calculation. The amendment entered in force right after publication (since September 9).


    “SAKSTAT” PRESENTED NEW PORTAL OF NATIONAL ACCOUNTS

    Today, Sakstat held presentation of new interactive portal of national accounts of Georgia. As Georgian statistics service noted, the portal gives an opportunity of analysis of key macroeconomic indicators of the country.


business

    LLC “BEST ENERGY GROUP” ACQUIRED STATE STAKE IN JSC “TELASI”

    Georgian Partnership Fund reported that its stake of 24.53% in Tbilisi energy distributor JSC TELASI (owned on behalf of the state) was sold to LLC Best Energy Group. Public auction took place at the Fund office today.


    “NIKORA TRADE” FINISHED H1 WITH LOSS TOO

    JSC Nikora Trade reported loss of 5.8 million lari for the first half of this year. According to financial statement of the company, the volume has reduced 2 times year-on-year.


    AS OF 6 MONTHS, 5 COMPANIES ACCOUNTED FOR 88% OF TOTAL PROPERTY INSURANCE PREMIUM

    Georgian State Service for Insurance Supervision reported that in total premium, attracted by Georgian insurance companies from property insurance for 6 months of this year (59 million lari), 5 companies accounted for 88%, or 52.2 million lari.

    Aldagi is still on the first position with share of 35% (20.9 million lari, year-on-year growth – 20.6%).


    AS OF JUNE 30, PROFIT OF “IRAO” INCREASED BY 26.7% Y-O-Y

    Irao reported net profit of 1.2 million lari for the first half of the year. According to report of this Georgian insurance company, the volume has increased by 26.7% year-on-year.


    ECONOMY MINISTRY: INVESTMENTS IN “GEOSTONE” MADE UP 8M LARI

    Georgian Ministry of Economy and Sustainable Development reported that investments in GeoStone company (extraction of minerals and natural stones) made up nearly 8 million lari. At this stage, the company employs 24 persons, the Ministry noted.


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