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Daily News

November 16, 2017

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politics

    RECOMMENDATION OF EUROPEAN PARLIAMENT: TRUST INVESTMENT FUND FOR GEORGIA, UKRAINE AND MOLDOVA HAS TO BE CREATED

    European Parliament recommended “establishment of a trust fund for Ukraine, Georgia and Moldova based on the best practices of multi-donor instruments”. This fund “should focus on private and public investments, in particular those in social and economic infrastructure and aimed at boosting investment absorptive capacity”.


    GEORGIAN PREMIER: THERE IS GROWING DYNAMICS IN GEORGIA-BELARUS RELATIONS

    At the meeting, which held in Tbilisi today, Georgia’s Prime Minister Giorgi Kvirikashvili and Belarusian Deputy Premier Mikhail Rusy discussed bilateral relations and prospects of joint projects’ implementation.

    “I am glad that there is growing dynamics in relations between our countries”, Kvirikashvili declared.


    TBILISI MAYOR NOMINATED HEADS OF THE CITY HALL SERVICES

    New Mayor of Tbilisi Kakha Kaladze named candidates for posts of services, operating under the City Hall.

    “First of all, I demand transparency of work of each service and maximum communication with the public”, Kaladze stated at the briefing, held in the City Hall yesterday.


economics

    IN Q2, RATIO OF HOUSEHOLDS’ DEBT TO GDP MADE UP 30.2%

    National Bank of Georgia reported that in the 2nd quarter, ratio of households’ debt to GDP made up 30.2%. In the 1st quarter, the ratio made up 29.1%.


    AS OF SEPTEMBER, PROFITABILITY OF BANKING ASSETS MADE UP 10.8%

    National Bank of Georgia reported that as of September, profitability of banking assets (ratio of interest income to income-generating assets) made up 10.8%. In the same period of 2016, this indicator made up 12%.


    AS OF SEPTEMBER, CREDITING OF REAL ESTATE AND CONSTRUCTION ACCOUNTED FOR 4.8% IN TOTAL CREDITS

    National Bank of Georgia reported that as of September, crediting of real estate and construction accounted for 4.8% in total issued credits. To compare, as of September 2016, this indicator made up 5%.


    REPRESENTATIVE OF UNOSSC PLATFORM ACQUAINTED WITH GEORGIAN REFORMS OF REAL ESTATE REGISTRATION

    National Agency of Public Register reported that representative of UNOSSC (the UN Office for South-South Cooperation) has acquainted with Georgian reforms of real estate registration.

    As Public Register said, aim of the UNOSSC visit was preparation of written report on reforms in Georgia, which will include also reforms, implemented by the Justice Ministry.


business

    BIDDING ANNOUNCED ON PROJECTS OF LOGISTIC CENTERS IN TBILISI AND KUTAISI

    Ministry of Economy and Sustainable Development invited bids for development of logistic centers in Tbilisi and Kutaisi (separately).

    Deadline for bidding is January 15, 2018.


    “FITCH” ASSIGNED FIRST-TIME “B-(EXP)” TO “TEGETA MOTORS”

    Fitch Ratings declared about assignment of “first-time expected Long-Term Issuer Default Rating (IDR) of “B-(EXP)”” to LLC Tegeta Motors (Georgian provider of auto spare parts and maintenance). The Outlook is Stable.


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