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Daily News

October 17, 2017

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politics

    GEORGIAN PREMIER TO TAKE PART IN EASTERN PARTNERSHIP SUMMIT

    Georgian government reported that Prime Minister Giorgi Kvirikashvili will take part in the 5th summit of Eastern Partnership of the EU. The summit will take place on November 24 in Brussels.


economics

    SPEAKER: REHABILITATION OF PARLIAMENT BUILDINGS IN TBILISI AND KUTAISI WILL BE FINISHED UNTIL END OF NEXT YEAR

    Chairman of the Parliament Irakli Kobakhidze declared that rehabilitation of the Parliament buildings in Tbilisi and Kutaisi should be completed until end of the next year.

    “According to estimations, in total 4.5 million lari will be required for all works”, the speaker said, though noted that “these are estimations only”.


    GEORGIAN OIL AND GAS CORPORATION TO PRESENT FINANCIAL GUARANTY FOR REQUEST OF “W-STREAM CASPIAN PIPELINE COMPANY LIMITED”

    According to order of the government, Georgian Oil and Gas Corporation has to present financial guaranty for request of W-Stream Caspian Pipeline Company Limited (promoter of Trans-Caspian gas pipeline project).

    As the document notes, W-Stream Caspian Pipeline Company Limited plans to submit grant application for receiving co-financing of CEF (Connecting Europe Facility), allocated by the EU, in a package of 2017-2020.


    AGRICULTURE MINISTRY: CONSTRUCTION OF IRRIGATIONAL NETWORK IN GORI MUNICIPALITY WILL BE FINISHED IN THE END OF THE YEAR

    Agriculture Ministry reported that Georgian Melioration implements project near occupation line in Gori municipality (Shida Kartli region), arranging an irrigational network for villages of Mereti community.

    The project worth 1.7 million lari will be finished at the end of the current year, the Ministry said.


    IN Q3, REMITTANCES TO GEORGIA INCREASED BY 19.7% Y-O-Y

    National Bank of Georgia reported that remittances, transfers to Georgia in the 3rd quarter, amounted to $367.07 million. If compared with the same period of 2016, the volume has increased by 19.7%.


    IN Q3, REMITTANCES FROM GEORGIA INCREASED BY 12% Y-O-Y

    National Bank of Georgia reported that remittances, transferred in the 3rd quarter from Georgia abroad, amounted to $54.21 million. If compared with the same period of 2016, the volume has increased by 12%.


    GEORGIAN PARTNERSHIP FUND TO COOPERATE WITH CZECH CANCER INSTITUTE

    Georgian Partnership Fund declared about signing of memorandum of cooperation with Masaryk Memorial Cancer Institute of Czech Republic.

    The official ceremony of signing of the document took place in Czech city of Brno, where delegation of the Fund was by invitation of the Czech Parliament.


business

    OUT OF 16 BANKS, OPERATING IN GEORGIA, 12 REPORT SEIZED PROPERTY OF BAD BORROWERS

    According to quarterly reports of commercial banks, published on the website of National Bank of Georgia, 12 out of 16 banks, operating on the local market, report seized property of bad borrowers.

    As of June 30, total volume of such property amounted to 168.69 million lari.


    OPPOSITIONAL MP: REASONS, WHY “TBC BANK” ACQUIRED “PROGRESS BANK”, ARE UNCLEAR

    Until now, the public did not receive the answer, why TBC Bank acquired Progress Bank, which was owned by Ivanishvili-Kaladze-Gavrilov, MP from National Movement Roman Gotsiridze stated.

    The oppositional MP, who was president of National Bank of Georgia (NBG) for some time, posted on own Facebook page that “not less strange is, why this operation (cancellation of Progress Bank) was not conducted by Cartu bank, whereas both banks were owned by the same person”.


    REGULATING COMMISSION WARNED MOBILE OPERATORS

    National Communication Commission declared about written warning, sent recently to mobile operators MagtiCom, Geocell and Beeline because of violation of rule of subscriber agreements’ registration.

    As the Commission noted, within the inspection, conducted in September, control purchase was made at all three operators, i.e. subscriber agreements were signed and SIM cards purchased.


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