IN 2017, THE GOVERNMENT’S SECURITIES EMITTED IN LARI INCREASED IN VOLUME BY 18.2%
National Bank of Georgia (NBG) reported that volume of the government’s securities, emitted in national currency, amounted as of December 31, 2017, to 2.58 billion lari. If compared with the same date of 2016, the volume has increased by 18.2%.
RATIO OF CREDITS, SECURED BY RESIDENTIAL REALTY, TO TOTAL CREDITS INCREASED, WHILE OF ONES, SECURED BY COMMERCIAL REALTY – DECREASED
National Bank of Georgia (NBG) reported that credits, secured by residential real estate, made up 28.9% of total crediting as of end of 2017.
To compare, this ratio for the same period of 2016 made up 28.2%.
VOLUNTARY REGISTRATION AS VAT PAYER TO BE POSSIBLE WITHOUT ADDITIONAL VISIT TO REVENUE SERVICE
Interested entities will be able to request voluntarily registration as VAT payers without additional visit to Revenue Service, National Agency of Public Register declared. Respective memorandum was signed recently between the Agency and Revenue Service of the Finance Ministry.
SINCE MARCH, OWNERS OF MOTOR TRANSPORT, REGISTERED ABROAD, WILL HAVE TO INSURE THEIR CIVIL LIABILITY
Since March 1, owners of motor transport means, registered abroad, will have to have insurance of civil liability while moving by their vehicles on the territory of Georgia.
For the purpose of administration of this process, all 17 insurance companies, operating in Georgia, have created the Center of Obligatory Insurance, which will issue the uniform policy (depending on category of motor transport and duration of the policy).
AIR AUTHORITIES OF GEORGIA AND SAUDI ARABIA SIGNED COMMUNICATION MEMORANDUM
Air authorities of Georgia and Saudi Arabia signed memorandum on air communication, Georgian Ministry of Economy and Sustainable Development reported.
The memorandum allows airlines of the parties to make direct regular flights and to sign commercial contracts before signing of the intergovernmental agreement, the Ministry specified, adding that the draft of the agreement does not limit number of airlines and frequency of flights.
JAPANESE AMBASSADOR: JAPANESE COMPANIES HAVE GREAT INTEREST TO GEORGIA
Ambassador of Japan in Georgia Tadaharu Uehara declared that large Japanese companies have great interest to Georgia, Georgian government reported.
Deepening of cooperation between the two countries was considered at the meeting of Georgia’s Prime Minister Giorgi Kvirikashvili with the ambassador of Japan, which held on February 23.
“NORD POOL” AND “BLUBERRIES” TO PROVIDE RECOMMENDATIONS IN ENERGY SPHERE TO GEORGIAN MINISTRY
Georgian Ministry of Economy and Sustainable Development declared that it will sign memorandum of cooperation with the European energy companies – Nord Pool AS (Norway) and Bluberries GmbH (Germany).
The companies will provide to the Ministry recommendations on creation in Georgia of electricity market and possibility of the country’s transformation into regional hub of trade with electricity, the Ministry said.
INSOLVENCY PROCEEDING LAUNCHED AGAINST LLC “POTI OIL REFINER”
Tbilisi city court issued a decree, which starts insolvency proceeding against of LLC Poti Oil Refiner. Request on announcing the company insolvent was submitted by Sakartvelos Banki (Bank of Georgia).
COMMUNICATION COMMISSION FINED “SUPER TV” WITH 30,000 LARI
National Communication Commission declared that LLC Super TV, authorized for broadcasting transit, is fined with 30,000 lari.
The Commission said that a monitoring established that the company did not submit documentation, confirming authority to retransmit lawfully a number of broadcasting channels in the territory of Georgia.
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