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Daily News

September 19, 2018

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politics

    THE EU-GEORGIA PARLIAMENTARY ASSOCIATION COMMITTEE WELCOMES GEORGIA’S INITIATIVE ON ROAD MAP DEVELOPMENT FOR INTEGRATION INTO THE EU

    The EU-Georgia Parliamentary Association Committee held its 7th meeting on September 18-19 in Tbilisi.

    In the statement, published after the meeting, the Committee welcomed “ambitious initiative of the Georgian authorities to draft the EU Integration Road Map, aimed at strengthening ongoing relations in all domains of the EU-Georgia cooperation agenda, going beyond the current scope of the EU-Georgia Association Agreement”.


economics

    NBG BOUGHT $5M

    National Bank of Georgia (NBG) declared about purchase of $10 million at the currency auction today. Average weighted exchange rate made up 2.6188 GEL/USD.


    DRAFT RULE OF CREDIT-ISSUING ENTITIES’ REGISTRATION, CANCELLATION OF REGISTRATION AND REGULATION PUBLISHED

    National Bank of Georgia (NBG) published today the draft of rule of registration, cancellation of registration and regulation of entities (or individuals), which are engaged in issuing of credits. These are considered the entities/individuals, to which/whom credit/loan obligations have over 20 private individuals (including sole proprietors) simultaneously.


    NBG: SYSTEM OF INFORMATION EXCHANGE IN REAL TIME BETWEEN REVENUE SERVICE AND COMMERCIAL BANKS WILL BE ENACTED

    National Bank of Georgia (NBG) indicates that verification of income at issuance of credit will become obligatory and at the same time, upper limit of credit servicing volume will be set.

    For that end, system of information exchange in real time between the Finance Ministry’s Revenue Service and commercial banks will be enacted, NBG said.


    AS OF JUNE 30, NET PROFIT OF INSURANCE COMPANIES INCREASED 6.7 TIMES Y-O-Y

    State Service for Insurance Supervision reported that net profit of insurance companies amounted as of June 30 to 16.34 million lari. If compared with the same period of 2017, the volume has increased 6.7 times.


    3 KINDS OF INSURANCE ACCOUNT FOR 75.12% OF TOTAL ATTRACTED PREMIUM

    State Service for Insurance Supervision reported that 3 types of insurance account for 75.12% of total insurance premium, attracted as of June 30 (295.28 million lari).

    That top three still includes medical (health) insurance, insurance of land transport (except railway) and property insurance.


    CHINESE AMBASSADOR: IN NOVEMBER, EXPORT IMPORT EXHIBITION WILL HELD IN SHANGHAI, AIMING PROMOTION OF GEORGIAN PRODUCTION

    Chinese ambassador in Georgia Ji Yanchi declared that export import exhibition will held in November in Shanghai, which will aim promotion of Georgian production.

    As Georgian Partnership Fund reported, the ambassador declared the mentioned in Borjomi, where conference on development of trade and economic cooperation between Georgia and Chinese province of Jiangxi took place.


    MINISTRY OF REGIONAL DEVELOPMENT AND INFRASTRUCTURE: POSSIBILITY OF PARTICIPATION OF KOREAN COMPANIES IN INFRASTRUCTURE PROJECTS IN GEORGIA IS CONSIDERED

    Within Global Infrastructure Cooperation Conference (GICC 2018), being underway in Seoul (September 18-20), Georgia’s Deputy Minister of Regional Development and Infrastructure Grigol Katsia met his South Korean counterpart.

    While reporting on the meeting, Georgian Ministry indicated that the parties considered possibility of participation of the South Korean companies in ongoing infrastructure projects in Georgia.


business

    AS OF JUNE 30, VOLUME OF REIMBURSEMENTS INCREASED BY 16.8% Y-O-Y

    State Service for Insurance Supervision reported that total volume of reimbursements amounted as of June 30 to 135.79 million lari. If compared with the same period of 2017, the volume has increased by 16.8%.


    AS OF JUNE 30, PENSION INSURANCE FEES INCREASED BY 30.5% Y-O-Y

    State Service for Insurance Supervision reported that contributions to private pension schemes of insurance companies amounted as of June 30 to 3.21 million lari. If compared with the same period of 2017, the volume has increased by 30.5%.


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Exchange Rates (NBG)
  03/27/24 + / -
  USD   2.7084   0.0029
  EUR   2.9337   0.0037
  RUR   2.9233   0.0038
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