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Daily News

February 12, 2018

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politics

    THE EU-GEORGIA COOPERATION IN ENERGY SECTOR DISCUSSED AT THE ECONOMY MINISTRY

    Today Georgia’s Minister of Economy and Sustainable Development Dimitri Kumsishvili held a meeting with director of secretariat of the EU Energy Community Janez Kopac.

    As the Ministry reported, the parties discussed issues of cooperation between Georgia and the EU in energy sector.


economics

    380,000 EUR ALLOCATED FOR CREATION OF EFFECTIVE PLATFORM OF BUSINESS ACTIVITY IN BOLNISI

    Total budget of the project of creation of effective platform of business activity in Bolnisi amounts to 380,000 EUR, reported Bolnisi municipality (Kvemo Kartli region).

    As the municipality noted, financing is allocated within pilot project of the EU initiative “Mayors for Economic Growth” (M4EG).


    REHABILITATION OF BAGDATI-ABASTUMANI-BENARA ROAD IS COMPLETED

    Ministry of Regional Development and Infrastructure reported about completion of rehabilitation of 4.6-km section of Kutaisi-Bagdati-Abastumani-Benara road. The works were started in November 2017.


    “COLLIERS INTERNATIONAL GEORGIA”: RECENTLY DEMAND FOR CO-WORKING SPACE GROWS IN TBILISI

    Colliers International Georgia (real estate services) declared that recently, demand for co-working space is increasing in Tbilisi.

    Growing tendency of co-working space is observed in the city, but there are also undeveloped areas, Colliers International Georgia pointed.


    “IPM”: IN TERMS OF ACTIVITY IN MEDIA, FINANCIAL SECTOR IS STILL IN THE LEAD

    Financial sector, which was a leader of 2016 in terms of activity in local media, did not yield position in 2017 too, Institute for Polling and Marketing (IPM) reported.

    However, number of media coverages of this sector in 2017 slightly decreased, IPM noted.


business

    SHARE OF “GEORGIA CAPITAL” IN “BANK OF GEORGIA GROUP” TO BE 19.9%

    Investment BGEO Group confirmed today that split of the group into two independent companies will be completed in the first half of this year. As a result, Bank of Georgia Group (banking direction) and Georgia Capital (investment direction) will be created.


    IN Q4 OF 2017, PROFIT OF “BASISBANK” DECREASED BY 5.7% Y-O-Y

    Basisbank reported net profit of 19.59 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has decreased by 5.7%.


    IN Q4 OF 2017, PROFIT OF “CARTU” BANK DECREASED BY 7% Y-O-Y

    Cartu bank reported net profit of 36.82 million lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has decreased by 7%.


    “SILK ROAD BANK” FINISHED Q4 OF 2017 WITH LOSS OF 495,555 LARI

    Silk Road Bank reported loss of 495,555 lari for the 4th quarter of 2017. If compared with the same period of 2016, the volume has reduced 4.4 times.


    “LIDER FOOD” LAUNCHED NEW MEAT ENTERPRISE

    Lider Food company, which launched new meat enterprise with assistance of the state program “Produce in Georgia”, has invested 22 million lari, the Ministry of Economy and Sustainable Development said.

    The enterprise, which occupies area of 5,600 square m, employs 550 people, the Ministry noted.


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