Daily News January 16, 2020	Days:  14 15 16 17 20

economics

IN Q3 OF 2019, NEGATIVE SHOWING OF PORTFOLIO INVESTMENTS WAS RECORDED

National Bank of Georgia reported that in the 3^rd quarter of 2019, negative showing of portfolio investments was recorded in Georgia, amounting to $100 million. In relation to GDP of the country, this showing makes up 2.2%.




AS OF DECEMBER 2019, YIELD RATE ON GEORGIAN GOVERNMENT’S 10-YEAR BONDS MADE UP 2.6%

Referring to Bloomberg, National Bank of Georgia reported that as of December 2019, yield rate on Georgian government’s 10-year bonds, placed on the London Stock Exchange (LSE), made up 2.6%.

To compare, the yield as of January 2019 made up 4.2%, March – 4%, June – 3.5%, September – 3%.




IN 2019, TOURISM REVENUES INCREASED BY 1.4%

National Bank of Georgia (NBG) reported that tourism revenues of the country amounted in 2019 to $3.27 billion. If compared with 2018 ($3.22 billion), the income has increased by 1.4%.




NEW INSTRUCTION ON RULES OF FREE ZONE’S CREATION AND FUNCTIONING AND IMPLEMENTATION OF CUSTOMS CONTROL IS APPROVED

Georgian government approved the new instruction “On Conditions of Creation of a Free Zone, Volume of Guarantee, Required for its Creation, Rules of Functioning of a Free Zone, Storage of Goods and Implementation of Customs Control There”. Respectively, corresponding instruction, adopted in 2011, is declared null and void.




DIRECTOR OF THE AGENCY OF INNOVATIONS AND TECHNOLOGIES: SOON, WE WILL OFFER NEW MECHANISMS OF SUPPORT FOR STARTUPS

“Soon, we will offer to public new mechanisms of support for startups”, director of Georgian Agency of Innovations and Technologies Avtandil Kasradze declared. He said this today, while presenting report on the Agency’s activity in 2019.




ASSOCIATION OF INTERNATIONAL INVESTORS OF GEORGIA: “FORBES” NAMED BATUMI AMONG THE BEST EUROPEAN CITIES FOR INVESTMENT

Association of International Investors of Georgia reported that among 7 European cities, named by Forbes as best for investment in 2020, Batumi is represented too.

As Forbes indicates, cost of construction of a new house in Batumi makes up $37 per 1 square m, while majority of buyers are foreigners.

business

AS OF DECEMBER 2019, PRICE PER SHARE OF “TBC BANK GROUP” MADE UP 12.9 GBP, OF “BOG GROUP” – 15.8 GBP

Referring to Bloomberg, National Bank of Georgia reported that as of December 2019, price per share of TBC Bank Group on the London Stock Exchange (LSE) made up 12.9 GBP.

To compare, the price as of January 2019 made up 14.7 GBP, March – 15.6 GBP, June – 16.2 GBP, September – 12.5 GBP.




CONTRACT ON CONSTRUCTION OF THE LAST SECTION OF ROAD THROUGH RIKOTI PASS IS SIGNED WITH CHINESE JOINT VENTURE

Georgian Roads Department signed today the contract on construction of the 4^th (last) section of the highway, passed through Rikoti Pass.

The contract on construction of Shorapani-Argveta section was signed with the winner of international tender, the Chinese joint venture, established by Guizhou Highway Engineering Group and China National Technical Import and Export Corporation.