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Daily News

May 22, 2018

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politics

    THE PARLIAMENT’S COMMITTEE DID NOT SUPPORT PLENARY CONSIDERATION OF REPORT OF “PUBLIC BROADCASTER” FOR 2017

    The Parliament’s Committee on Branch Economy and Economic Policy considered on May 21 the report of Public Broadcaster for 2017.

    The Committee did not support consideration of the report at the plenary session, the Parliament said, not indicating the reason.


economics

    ECONOMY MINISTER: IMF WILL WORK TOGETHER WITH US IN THE DIRECTION OF CREDIT GUARANTEE FUND’S CREATION

    Within his visit to the US, Georgia’s Minister of Economy and Sustainable Development Dimitri Kumsishvili held a meeting with the IMF officials: deputy managing director Tao Zhang and alternate director from Netherlands-led group Richard Doornbosch.

    Kumsishvili said that he discussed with Zhang creation of credit guarantee fund, pointing that the IMF “will begin work in this direction together with us”.


    IN Q1, DEMAND FOR DEPOSIT CERTIFICATES 3.5 TIMES EXCEEDED EMISSION

    National Bank of Georgia reported that demand for deposit certificates (discount security) 3.5 times exceeded emission in the 1st quarter.

    In particular, total demand during the reporting period amounted to 209.5 million lari, while total emission (2 auctions) made up 60 million lari.


    IN Q1, VOLUME OF REFINANCING CREDITS DECREASED BY 23.4% Y-O-Y

    National Bank of Georgia reported that 13 refinancing credits (7-day) were issued in the 1st quarter, totaling to 11.61 billion lari. If compared with the same period of 2017 (15.16 billion lari), the volume has decreased by 23.4%.


    PILOT PROGRAM OF ANIMAL IDENTIFICATION SYSTEM IS LAUNCHED IN KAKHETI

    The UN Food and Agriculture Organization (FAO) and Georgian National Food Agency launched pilot program of National Animal Identification and Tracing System (NAITS) in 3 municipalities of Kakheti region, FAO representation in Georgia reported.

    As the representation said, the second stage of the pilot program is planned for autumn, and in case of success, countrywide introduction of the system will become possible.


business

    WITHIN THE FIRST PHASE OF CONSTRUCTION OF ANAKLIA PORT, 80% OF PRELIMINARY ON-SHORE WORKS ARE COMPLETED

    Within the first phase of Anaklia deep-water port construction, 80% of preliminary on-shore works are completed, Anaklia Development Consortium reported.

    Namely, removal of upper fertile layer on 110 ha (area of the port construction) is almost fully completed and the construction area is completely exempted from waste.


    LICENSE OF “FIRST CREDIT UNION” IS CANCELLED

    Activity license is cancelled to First Credit Union, which is passed to liquidation mode, National Bank of Georgia (NBG) reported.

    NBG explained the decision by non-execution by the Union’s management of established supervising requirements.


    “IBERIA INVESTMENT” TO BE DECLARED BANKRUPT THROUGH CANCELLATION OF ITS REGISTRATION

    Kutaisi city court decided to reject request of LLC Iberia Investment about launch of bankruptcy proceeding.

    The court ruled that the debtor company will be declared bankrupt by registration cancellation, if within 1 month after publication of the ruling, creditor(s) do(es) not apply with request about bankruptcy of the debtor.


society

    CRIMINAL PROCEEDINGS LAUNCHED AGAINST 3 CITIZENS UPON ILLEGAL RECEIVING OF CREDIT

    Upon illegal receiving of credit, 3 citizens are subjected to criminal responsibly, the Finance Ministry’s Investigative Service declared.

    The investigation established that two defendants specified false data on their financial condition upon filling credit application in commercial banks, while the third defendant submitted false salary certificate.


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