Daily News October 12, 2018	Days:  10 11 12 15 16

politics

GEORGIAN MINISTER OF ECONOMY DISCUSSED DEVELOPMENT OF BILATERAL TRADE RELATIONS WITH THE UK MINISTER OF STATE FOR TRADE POLICY

Georgian Ministry of Economy and Sustainable Development reported that the Minister Giorgi Kobulia, who visits London, met the UK Minister of State for Trade Policy, member of House of Commons George Hollingbery.

At the meeting, the parties discussed development of bilateral trade relations and opportunities of attraction of British investments to Georgia, the Ministry said.




IDFI: FIGHT AGAINST ELITE CORRUPTION REMAINS A CHALLENGE IN GEORGIA

Fight against elite corruption remains a challenge in Georgia, Institute for Development of Freedom of Information (IDFI) declares.

The non-governmental organization notes that functions of corruption prevention and fight against it are redistributed between various public departments, which powers and fields of activity often not separated accurately.

economics

AS OF END OF SEPTEMBER, GEORGIA’S STATE FOREIGN DEBT INCREASED BY 2.7% Y-O-Y

Georgian Finance Ministry reported that as of September 30, public foreign debt of the country amounted to $5.14 billion. If compared with the same period of 2017, the volume gas increased by 2.7%.




AS OF END OF SEPTEMBER, GEORGIA’S STATE DOMESTIC DEBT INCREASED BY 9.5%

Georgian Finance Ministry reported that as of September 30, public domestic debt of the country amounted to 3.08 billion lari (not envisaging so-called “historical” debt). If compared with the same period of 2017, the volume has increased by 9.5%.




DAY OF GEORGIAN INVESTORS TOOK PLACE AT LONDON STOCK EXCHANGE

Sakartvelos Banki (Bank of Georgia) reported that its affiliated investment company Galt&Taggart held Day of Georgian Investors on London Stock Exchange.

The event was attended by Georgia’s Prime Minister Mamuka Bakhtadze, Minister of Economy and Sustainable Development Giorgi Kobulia, top managers of public and private companies, invited investors and analysts.




BUSINESS OMBUDSMAN: ADVERTISING RESTRICTION FOR GAMING BUSINESS WILL HAVE CONSIDERABLE IMPACT ON ADVERTISING MARKET

Georgia’s business ombudsman Irakli Lekvinadze declared that restriction of advertising for gaming business will have considerable impact on advertising market of the country.

We consider that draft amendments to law “On Advertising”, which ban the spread of advertising of hazardous and advantageous games and restrict outdoor advertising, contain several critical points, the business ombudsman said.




AGROFOOD AND NEW TECHNOLOGIES TRADE EXHIBITION IS HELD IN AJARA

Trade exhibition of agrofood production and new technologies “Agro Batumi 2018” was opened in Batumi, which will last for 3 days.

According to organizers, the exhibition presents Georgian, Polish, Ukrainian, Turkish, Norwegian and Iranian production.

business

IN 9 MONTHS OF THIS YEAR, “TURKISH AIRLINES”, “GEORGIAN AIRWAYS” AND “WIZZAIR” ACCOUNTED FOR PER 11% OF TOTAL PASSENGER TRAFFIC

By data in 9 months of this year, Turkish Airlines, Georgian Airways and Hungarian WizzAir are on the top in terms of number of passengers, transported by regular and charter flights.

As Georgian Civil Aviation Agency reported, each of these companies accounted for per 11% of total passenger traffic (Turkish Airlines – 440,060 passengers, Georgian Airways – 433,805 passengers, while WizzAir – 425,991 passengers).




REGULATING COMMISSION: 5-YEAR DEVELOPMENT PLAN OF “ENERGOPRO GEORGIA” IS RETURNED TO THE COMPANY FOR ADJUSTMENT

5-year development plan, presented by EnergoPro Georgia (regional energy distributor), is returned to the company for adjustment, Georgian National Energy and Water Supply Regulating Commission declared. The company is given 1 month for submission of the updated plan.




PROCESS OF LIQUIDATION OF MICROFINANCIAL ORGANIZATION “BONAKO” LAUNCHED

National Bank of Georgia (NBG) reported about cancellation of license of Bonako and pass of this microfinancial organization into liquidation mode.

The decision was caused by facts, related to activity of the management, causing damage to creditors of the organization, which were revealed upon check of the organization, NBG said.