Daily News May 22, 2017	Days:  18 19 22 23 24

politics

GEORGIA TO NEGOTIATE DOUBLE TAXATION AVOIDANCE WITH MAURITIUS

Georgia will negotiate double taxation avoidance with Mauritius. According to respective order of the government, the matter concerns adjustment of text of agreement on prevention of double taxation of income and capital and suppression of tax evasion.




GEORGIA AND JORDAN AGREED TO COOPERATE IN TOURISM SPHERE

Within visit of Georgia’s Prime Minister Giorgi Kvirikashvili to Jordan (May 20), agreement on cooperation in tourism sphere was signed between the two countries, Ministry of Economy and Sustainable Development reported.

From the Georgian party, the document was signed by Deputy Minister of Economy Gennady Arveladze, who said that the parties agreed to establish working group for encouragement of tour operators.




“UNM” PRESENTED UPDATED ECONOMIC PROGRAM

United National Movement (UNM) held public presentation of the updated economic program today. As the opposition party noted, this is the working version, while final version of the program will be worked out “only as a result of discussions and consultations with citizens”.

economics

SPECIAL RULES OF RELATIONS WITH CUSTOMERS TO APPLY SINCE JUNE TO MICROFINANCIAL ORGANIZATIONS AND NON-BANKING DEPOSITORY INSTITUTIONS

National Bank of Georgia (NBG) reported that regulation, which aims protection of consumer rights during service provision by financial organizations, will enter in force on June 1.

According to the document, demand to observe special rules during relations with customers, which applies currently to commercial banks only, will be expanded also to microfinancial organizations and non-banking deposit institutions (credit unions and qualified credit institutes).




MEAT PRODUCTION IN Q1 INCREASED BY 30.6% Y-O-Y

Sakstat published preliminary data of the 1^st quarter, pointing that meat production for the period amounted to 11,100 t. If compared with the same period of 2016, the volume has increased by 30.6%.




NUMBER OF SLAUGHTERHOUSES DECREASED IN Q1 BY 5, WHILE OF COOL STORAGES – INCREASED BY 2

Sakstat reported that in the 1st quarter, there were 74 slaughters operating in Georgia against of 79 ones in the 4^th quarter of 2016.

Out of total, 18.9% of slaughters are located in Imereti region, while 17.6% – in Kvemo Kartli.




OTC TURNOVER IN Q1 EXCEEDED 11.35 TIMES STOCK EXCHANGE TURNOVER

Georgian Stock Exchange reported that total cost of OTC deals, concluded in the 1^st quarter, amounted to 3.67 million lari. This volume exceeds 11.35 times turnover of stock-exchange deals for the same period.

business

“WINGS OF LEBANON” WILL CARRY OUT FLIGHTS TO GEORGIA

Lebanese air carrier Wings of Lebanon will conduct charter flights to Georgia, the Ministry of Economy and Sustainable Development reported.

The airline will conduct flights between Beirut and Tbilisi 2 times a week (on Tuesdays and Fridays), starting from June 27 until September 8.




“METROCITY” MALL OPENED IN BATUMI

Turkish company Metro opened shopping center MetroCity in New Boulevard in Batumi, the government of Ajara reported. Investments into the project made up $100 million, the government said.




LAND PLOT IN KHONI MUNICIPALITY TO BE HANDED OVER TO LLC “RENATUS GROUP”

State-owned land plot in Ivandidi village of Khoni municipality (Imereti region) will be handed over through direct sale to LLC Renatus Group.

According to respective order of the government, the company will pay 54,000 lari for non-agricultural land plot of 10,833 square m.