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Daily News

July 30, 2020

Previous Issues:  Days: < 28 29 30 31 03 > 

 

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politics

    AUSTRIAN AMBASSADOR: ONLY 9 AUSTRIAN COMPANIES WANTED IN 2016 TO ARRIVE TO GEORGIA, WHILE WE HAD ALREADY 35 AUSTRIAN COMPANIES LAST YEAR

    “In 2016, when we opened the embassy [in Tbilisi], only 9 Austrian companies wanted to pay a business visit to Georgia, while we had already 35 companies last year”, Austrian ambassador to Georgia Arad Benko declared.

    The ambassador considers that “[Austrian] investments [in Georgia] will increase in next years, especially when risks, related to COVID, decrease”.


    “ANAKLIA DEVELOPMENT CONSORTIUM” LODGED A COMPLAINT AGAINST GEORGIA TO INTERNATIONAL ARBITRATION

    Anaklia Development Consortium (ADC) declared about complaint against Georgia, lodged on July 29 to International Court of Arbitration under auspices of International Chamber of Commerce (ICC). As ADC indicated, the claim is lodged because of violated rights of ADC within the project on deep-water port construction in Anaklia.


economics

    IN Q2, DEMAND FOR DEPOSIT CERTIFICATES 3.3 TIMES EXCEEDED EMISSION

    National Bank of Georgia reported that demand for its deposit certificates (3-month discount security) almost 3.3 times exceeded emission in the 2nd quarter.

    In particular, demand in the reporting period totaled to 195 million lari, while emission (placed through 3 auctions) – to 60 million lari.


    IN Q2, EMISSION OF TREASURY BONDS INCREASED BY 46.3% Y-O-Y

    National Bank of Georgia reported that emission of the Finance Ministry’s treasury bonds totaled in the 2nd quarter to 490 million lari. Total demand exceeded the emission 1.95 times and made up 955.9 million lari.


    IN Q2, EMISSION OF TREASURY BILLS INCREASED BY 84.3% Y-O-Y

    National Bank of Georgia reported that emission of the Finance Ministry’s treasury bills totaled in the 2nd quarter to 330 million lari. Total demand exceeded the emission 1.98 times and made up 654 million lari.


    IN JANUARY-JUNE, NUMBER OF ISSUED CONSTRUCTION PERMISSIONS DECREASED BY 16.5% Y-O-Y

    Sakstat reported that according to official declared data, 4,168 construction permits were issued in Georgia in January-June. If compared with the same period of 2019, the number has decreased by 16.5%.


    ECONOMY MINISTER: CONSTRUCTION OF NEW TERMINAL AT KUTAISI AIRPORT COMES TO THE END

    Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that construction of new terminal at Kutaisi airport comes to the end. In several months, we will have already the new terminal, she said.


business

    “FITCH” ASSIGNED “GGU” A FINAL RATING

    Fitch Ratings reported about assignment a final first-time long-term issuer default rating of “B+” with “stable” outlook to JSC Georgia Global Utilities (GGU). The agency assigned also a final rating of “B+” to GGU’s unsecured 5-year bonds of $250 million, maturing in July 2025.


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