Daily News December 28, 2020	Days:  24 25 28 29 30

politics

GEORGIA HAS AGREEMENTS ON DOUBLE TAXATION AVOIDANCE WITH 56 COUNTRIES

Currently, Georgia has signed agreements on double taxation avoidance and prevention of tax evasion with 56 states, Georgian Finance Ministry reported.

The Ministry noted that these agreements include ones, signed with all EU member states, as well as with member countries of the Organization for Economic Cooperation and Development (OECD) and Georgia’s major trade and economic partners.

economics

PENSION FUND VOLUME EXCEEDED 1.15B LARI

Georgian Pension Agency reported that the country’s accumulative pension scheme numbers already 1.1 million participants. At that, the number has increased during the last 5 months by 12,000 on average.




NBG ISSUED COLLECTIBLE COINS, DEDICATED TO KING EREKLE II

In connection with the 300^th anniversary of King Erekle II (the last king of Kartli and Kakheti), National Bank of Georgia (NBG) issued golden and silver coins with a face value of 5 lari.

The coins were made in the Royal Dutch Mint.

business

“FITCH” DOWNGRADED RATING OF “SILKNET” FROM “B+” TO “B”.

Fitch Ratings reported about downgrade of rating of Georgian telecom operator JSC SilkNet from “B+” to “B”. The outlook is “stable”.




“AJARA TEXTILES” OPENED NEW SEWING ENTERPRISE

Ajara Textiles, created with Turkish investments, opened new sewing enterprise today. As Georgian Ministry of Economy and Sustainable Development reported, construction of the enterprise was conducted during 4 months and one more month was spent for its equipment.




IN 2019, INCOME OF “GUDAURI SKI RESORT” INCREASED 11 TIMES

LLC Gudauri Ski Resort reported profit of 10.6 million lari for 2019. According to audited report of this company, running hotels Gudauri Marco Polo and Alpina in skiing resort Gudauri, the volume has increased 11 times year-on-year.




“H&M GEORGIA” FINISHED 2019 WITH LOSS

LLC H&M Hennes&Mauritz Georgia reported loss of 7,000 lari for 2019. According to audited report of this Georgian member of the Swedish multinational clothes’ brand Hennes&Mauritz AB, its profit for 2018 made up 1.4 million lari.




IN 2019, PROFIT OF “DUTY FREE ALLIANCE” INCREASED BY 41%

LLC Duty Free Alliance reported profit of 7 million lari for 2019. According to audited report of this company, engaged in retail trade in duty free zone at Georgian border and supplying production to foreign diplomatic corps in Georgia, the volume has increased by 41% year-on-year.