Daily News August 18, 2017	Days:  16 17 18 04 05

economics

IBRD TO ALLOCATE 44.6M EUR TO GEORGIA

Finance Ministry declared that Georgia government will receive 44.6 million EUR from International Bank for Reconstruction and Development (IBRD, member of the World Bank group). Respective credit agreement with the World Bank was signed recently, the Ministry said.




ADMINISTRATIVE PROCEEDINGS STARTED ON TARIFFS’ DEFINITION FOR 5 ENERGY LICENSEES

National Energy and Water Supply Regulating Commission has decided to launch public administrative proceedings for definition of tariffs for 5 energy licensees.

The Commission set deadline for submission of related offers at September 18, while deadline for publication of respective decision expires on December 31.




ECONOMY MINISTRY: GEORGIA BECOMES THE ATTRACTIVE LOCATION FOR BUSINESS OUTSOURCING

Ministry of Economy and Sustainable Development declared that “Georgia becomes an attractive location for foreign investors in terms of business processes outsourcing”.

In particular, “for the last year, already a number of international, famous companies have made considerable investments in Georgia in respect of outsourcing of services”, the Ministry said, not specifying the volume of investments.




AJARA TO HOST 3-DAY ENTREPRENEURIAL TRADE EXHIBITION

Georgian Ministry of Economy and Sustainable Development declared that its Produce in Georgia Agency assists to holding of entrepreneurial trade exhibition in Ajara, in Batumi Boulevard. The event, which will held on August 18-20, will gather about 100 businessmen, the Ministry noted.

business

AS OF MARCH 31, PROFIT OF “BASISBANK” INCREASED BY 12.8% Y-O-Y

According to report of Basisbank, its net profit as of March 31 amounted to 7.98 million lari. If compared with the same period of 2016, the volume has increased by 12.8%.




AS OF MARCH 31, PROFIT OF “HALYK BANK GEORGIA” INCREASED 4.6 TIMES Y-O-Y

According to report of Halyk Bank Georgia, its net profit as of March 31 amounted to 3.79 million lari. If compared with the same period of 2016, the volume has increased 4.6 times.




AS OF MARCH 31, PROFIT OF “FINCA BANK” REDUCED BY 20.8% Y-O-Y

According to report of FINCA Bank, its net profit as of March 31 amounted to 283,211 lari. If compared with the same period of 2016, the volume has decreased by 20.8%.




“SILK ROAD BANK” FINISHED Q1 WITH PROFIT

According to report of Silk Road Bank, its net profit as of March 31 amounted to 15,271 lari. In the same period of 2016, the bank had loss of 694,760 lari.




ECONOMY MINISTRY: “GEORGIAN PRODUCTS RENAISSANCE” EXPORTS TO MORE THAN TO 25 COUNTRIES

Ministry of Economy and Sustainable Development declared that hazelnut-processing company Georgian Products Renaissance conducts export with assistance of Produce in Georgia Agency.

As the Ministry said, the company delivers production to more than 25 countries, including Switzerland, the Netherlands, Italy, Germany, etc.




“CHIRINA” TO GET REAL ESTATE IN GARDABANI MUNICIPALITY

According to the government’s order, state-owned real estate in Sartichala village of Gardabani municipality (Kvemo Kartli region) will be handed over to LLC Chirina through direct sale.

The matter concerns agricultural land sites, totaling to 1.68 million square m, and non-agricultural land plot of 152,493 square m.

society

ECONOMY MINISTRY: AGENCY OF INNOVATIONS AND TECHNOLOGIES AND CENTER FOR PREVENTION OF CRIME IMPLEMENT JOINT PROJECTS

Ministry of Economy and Sustainable Development declared that its Agency of Innovations and Technologies and the Justice Ministry’s Center for Prevention of Crime have signed memorandum on cooperation.

Joint projects/programs will involve beneficiaries of the Center aged below 29 years, which will be trained in technological innovations, the Ministry said.