Daily News March 13, 2019	Days:  11 12 13 14 15

politics

BUSINESS ASSOCIATION: IN CASE OF NEED, WE ARE READY TO PROTECT FAIR INTERESTS OF “TBC BANK”

“In case of need, we are ready to protect at any time objective and fair interests of TBC Bank, as our Association member”, Georgian Business Association said in the statement released today.

“If we really worry about the bank, the most correct in these days is to refrain from mentioning of TBC Bank in the context of various events”, the Association declares.

economics

NBG DECREASED REFINANCING RATE BY 25 BASIS POINTS

National Bank of Georgia (NBG) reported that its monetary policy committee decided today to decrease monetary policy rate (refinancing rate) by 25 basis points. Respectively, the rate makes up 6.5% now.




NORM OF MINIMAL RESERVE REQUIREMENTS FOR FUNDS, ATTRACTED IN FOREIGN CURRENCY, RAISED BY 5 PERCENTAGE POINTS

National Bank of Georgia (NBG) reported that its monetary policy committee decided today to raise norm of minimal reserve requirements for funds, attracted in foreign currency, by 5 percentage points.

As NBG indicated, the decision is made for “mitigation of possible risks, which could affect the financial stability in future”.




IN 2018, TBILISI ACCOUNTED FOR 78.4% OF TOTAL FDI IN GEORGIA

Sakstat released estimation, according to which in total direct foreign investments (FDI), made in Georgia in 2018 ($1.23 billion), Tbilisi accounted for 78.4%, or $966.77 million. If compared with 2017, the volume of FDI in Tbilisi has decreased by 34.3%.




STATE AUDIT SERVICE: IN 2018, 79.3% OF ALLOCATIONS OF REGIONAL PROJECTS FUND WERE DISTRIBUTED ACCORDING TO DECISION OF THE GOVERNMENTAL COMMISSION

In 2018, regional projects fund spent 306 million lari, of which 79.3% (243 million lari) was distributed according to decision of the governmental commission, Georgian State Audit Service reported.

The commission decided to direct 77% of allocations to arrangement of road infrastructure, shore protection works and procurement of special equipment.




REGISTRATION STARTED FOR PARTICIPATION IN “PRODUCE FOR BETTER FUTURE” STATE PROGRAM

Produce in Georgia Agency of Georgian Ministry of Economy and Sustainable Development declared that new grant component “Produce for Better Future” has been developed within “Produce in Georgia” state program, applications for which could be submitted through May 12.

As the Agency explained, the component aims promotion of trade and related activity along “lines of division” with occupied territories (Abkhazia and Tskhinvali region), support of co-production and partnership projects for inhabitants of territory on both sides of the lines.




GEORGIAN-JAPANESE BUSINESS FORUM TO BE HELD IN TOKYO

On March 15, Georgian-Japanese business forum will be held in Tokyo, reported Produce in Georgia Agency of Georgian Ministry of Economy and Sustainable Development.

The Agency said that along with 20 Georgian companies, participation in the business forum will be taken by representatives to 150 Japanese companies, interested in Georgia’s investment potential.




GEORGIA SUSPENDS FLIGHTS OF “BOEING 737 MAX 8” AND “BOEING 737 MAX 9” IN OWN AIRSPACE

Georgian Civil Aviation Agency declared that in order to secure safety of flights and passengers, flights of Boeing 737 MAX 8 and Boeing 737 MAX 9 in airspace of Georgia are temporarily suspended.

As the Agency specified, flights will be restricted, until agencies for air accidents’ investigation, aviation authorities and producer company do not obtain more detailed information on reason of the similar plane’s crash in Ethiopia.

business

YOUNG LAWYERS ASSOCIATION: TBILISI PHILHARMONIC HALL HAS TO BE RETURNED IN THE STATE MANAGEMENT

Georgian Young Lawyers Association declared that National Agency of State Property has to launch immediately procedures of return of Tbilisi State Concert Hall (Philharmonic Hall) in the state management.

The Philharmonic Hall is given in 49-year management to LLC International Event according to agreement, signed in 2007.




“IPM RESEARCH”: IN 2018, MOST ACTIVE IN MEDIA PHARMACY CHAIN WAS “PSP”

In 2018, the most active in media Georgian pharmacy chain was PSP, which accounted for 63% of total exposures, reports IPM Research. Share of Aversi made up 21%, GPC – 6%, Pharmadepo – 5%.