Daily News April 15, 2019	Days:  11 12 15 16 17

politics

GEORGIAN PREMIER LAUNCHED INITIATIVE ON PASS OF RELATIONS WITH ROMANIA TO STRATEGIC LEVEL

Georgia launches an initiative to pass relations with Romania to strategic level, Georgia’s Prime Minister Mamuka Bakhtadze declared at the meeting with his Romanian counterpart Viorica Dancila today.

Georgian Premier noted that “Romania is very strong supporter of Georgia’s integration into European and Euro-Atlantic space”.




EMPLOYEE OF “SAKAERONAVIGATSIA” BECAME CHAIR OF ICAO PERMANENT GROUP

Evgeni Tavadze, head of department at LLC Sakaeronavigatsia (Georgian Air Navigation), is elected the chairman of permanent group of International Civil Aviation Organization (ICAO), Georgian Ministry of Economy and Sustainable Development reported.

During 4 years, Tavadze will direct permanent group on air routes’ development at European and North Atlantic regional office of ICAO.

economics

“S&P” IMPROVED OUTLOOK FOR GEORGIA’S SOVEREIGN RATING

On April 13, Standard&Poor’s (S&P) improved outlook for sovereign rating of Georgia from “stable” to “positive”, Georgian government reported. The rating itself is “BB-”.




AS OF MARCH, YIELD RATE OF GEORGIAN GOVERNMENT’S 10-YEAR BONDS MADE UP 4%

Referring to Bloomberg, National Bank of Georgia reported that yield rate of Georgian government’s 10-year bonds, placed on the London Stock Exchange (LSE), made up 4% in this March.

To compare, the rate in March 2018 made up 3.8%, while in December 2018 – 4.4%.




AS OF MARCH, LARI SUPPLY INCREASED BY 13.4% Y-O-Y

National Bank of Georgia reported that as of March 31, national currency supply amounted to 3.42 billion lari.

If compared with the same period of 2018 (i.e. year-on-year), the volume has increased by 13.4% (by 403.99 million lari).




BUSINESS OMBUDSMAN: IN Q1, IN 80% OF RECOMMENDATIONS, OUR POSITION WAS FULLY OR PARTLY MET

In the 1^st quarter, we issued 57 recommendations in support of business interests and in 80% of them, our position was fully or partly satisfied, Georgian business ombudsman Irakli Lekvinadze declared.

According to Lekvinadze, 40% of applications, received by his office in the reporting period, were submitted by companies, engaged in production or retail and wholesale trade.




MINISTRY OF ENVIRONMENTAL PROTECTION AND AGRICULTURE: DURING 5 YEARS OF AGROINSURANCE, REIMBURSEMENTS TOTALED TO 35.34M LARI

During 5 years of the state program of agroinsurance, launched in 2014, (i.e. through 2018), paid reimbursements totaled to 35.34 million lari, Georgian Ministry of Environmental Protection and Agriculture reported.

The Ministry pointed that in total cost of insurance service to farmers, the state has subsidized 33.85 million lari.




IN 2018, PROFIT OF INSURANCE COMPANIES INCREASED 2.07 TIMES

In 2018, net profit of Georgian insurance companies totaled to 42.19 million lari, Georgian State Service for Insurance Supervision reported. If compared with 2017, the volume has increased 2.07 times.

business

AS OF MARCH, PRICE PER SHARE OF “TBC BANK GROUP” AT LONDON STOCK EXCHANGE MADE UP 14.3 GBP, OF “BANK OF GEORGIA GROUP” – 16.6 GBP

Referring to Bloomberg, National Bank of Georgia reported that as of March, price per share of TBC Bank Group on the London Stock Exchange made up 15.6 GBP.

To compare, the price in March 2018 made up 18 GBP, while in December 2018 – 14.3 GBP.




THE UN GROUP ON BUSINESS AND HUMAN RIGHTS: THERE IS NO ANY PLAN, SECURING SAFE WASTE MANAGEMENT AT “GEORGIAN MANGANESE”

The UN group on business and human rights declared that representatives of Georgian Manganese (subsidiary of the US-based Georgian American Alloys Inc.) in Chiatura told them that “the company is taking steps to stop discharging sludge into the river through a new enrichment plan”.

“While we welcome this development”, the group said in the statement, released at the end of their visit to Georgia last week, “we are concerned that currently there are no plans for safe management of waste materials”, resulting from operations of the company’s contractors.