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Economic Press Monitor

February 17 - 23, 2019

Previous Issues:  Days: < 26 02 09 16 23

 

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economic & politics

    TABULA: ““FREEDOM HOUSE”: RIGHTS OF ELECTED PERSONS ARE DEVALUATED BECAUSE OF INFORMAL RULING OF IVANISHVILI”

    February 22, 2019 - In the new report, Freedom House analyzes the informal ruling of Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream), opacity of Georgian government and fight against corruption, Tabula reports.

    According to Freedom House, “The ability of elected officials to determine and implement government policy is impaired by the informal role of Ivanishvili, who holds no public office but exerts significant influence over executive and legislative decision-making”.


    NETGAZETI.GE: “WE BEHOLD THE PROCESS WITH A CERTAIN CONCERN, – THE ACTING THE US AMBASSADOR ON “TBC””

    February 22, 2019 - Acting the US ambassador in Georgia Ross Wilson says that he and other diplomats behold the case of TBC Bank “with a certain concern”, Netgazeti.Ge reports.

    This case “affects reputation of Georgia, as place, good for business”, Wilson points.


    FORBES GEORGIA: ““FREEDOM BAROMETER” OF GEORGIA”

    February 21, 2019 - According to “Freedom Barometer” of Friedrich Naumann Foundation for this year, Georgia’s score has worsened and made up 64.1, the magazine reports. With this score, Georgia occupies the 28th place among 45 countries.


    TABULA: “AMCHAM: NBG DECISION ON “TBC” COULD VIOLATE LEGAL PROCEDURES”

    February 21, 2019 - President of American Chamber of Commerce in Georgia (AmCham) Michael Cowgill released the statement in connection with situation around TBC Bank, Tabula reports.

    The Chamber recognizes regulatory authority of National Bank of Georgia (NBG), but indicates that it seems that while demanding removal of TBC’s shareholders from supervisory council of the bank, NBG bypassed established legal norms and corresponding procedures.


    NETGAZETI.GE: “COMMENTS OF MPS ON MAMUKA KHAZARADZE’S LETTER”

    February 20, 2019 - At the session of Georgian Parliament, oppositional MPs (European Georgia and National Movement) accused the authorities and personally Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream) of attack on TBC Bank, Netgazeti.Ge reports.

    As the article notes, oppositional MPs consider that the attack is caused by desire to grab successful bank and the project of Anaklia port (which is implemented by consortium with participation of TBC Group).


    TABULA: ““TBC BANK” CONFIRMS DISTRIBUTION OF THE LETTER IN INTERNAL NETWORK BY KHAZARADZE”

    February 20, 2019 - TBC Bank confirmed distribution by Mamuka Khazaradze (chairman of supervisory council of the bank) of the letter in internal network of the bank, Tabula reports. The letter was published by Rustavi-2 TV company.


    FORBES GEORGIA: “PRIME MINISTER URGES MINISTRIES TO USE BLOKCHAIN TECHNOLOGY”

    February 19, 2019 - Georgia’s Prime Minister Mamuka Bakhtadze indicates need of expansion of use of blokchain technology in public services, the magazine reports.

    The Premier notes that in 2017, Georgia became the first country, which introduced blokchain technology in public services.


macroeconomics & budget

    BANKEBI DA FINANSEBI: “ROMAN GOTSIRIDZE: GEORGIA TURNED INTO THE AREA OF INCOMPLETE CONSTRUCTION”

    February 21, 2019 - MP from National Movement Roman Gotsiridze applied with questions to Georgia’s Minister of Regional Development and Infrastructure Maia Tskitishvili, while she appeared in the Parliament.

    As the oppositional MP declared, for 6 years the Ministry of Regional Development and Infrastructure spent 6.5 billion lari and, taking into account the budget of the current year, allocations of the Ministry reach 9 billion lari.


    NETGAZETI.GE: “23M LARI FOR CONSTRUCTION OF PUBLIC SCHOOL IN DIDI DIGOMI”

    February 18, 2019 - Netgazeti.Ge reports about allocated of 23 million lari for preparation of design and then construction of public school (a multipurpose educational complex) on the territory of Didi Digomi district in Tbilisi.

    The primary education block of the school will be designed for 600 pupils, while one of basic and upper education (7-12 classes) – for 720 pupils.


energy, oil & gas

    REZONANSI: “ON MARCH 5, “ENGURHES” COULD STOP OPERATION, ABKHAZIA IS IN DANGER OF DARKNESS”

    February 19, 2019 - By March 5, EngurHES can stop operation because of critical decrease of water level in reservoir, the newspaper reports. As a result, Russia-occupied Abkhazia will remain without electricity, the article notes.


conflict and court

    TABULA: “LIKE KHAZARADZE, BADRI JAPARIDZE LEAVES SUPERVISORY COUNCIL OF “TBC BANK””

    February 22, 2019 - Like Mamuka Khazaradze, now already former chairman of supervisory council of TBC Bank, his deputy Badri Japaridze leaves the council too, though he (as well as Khazaradze) remains in the board of TBC Bank Group PLC (London-based holder of 100% in TBC Bank), Tabula reports.

    At that, Japaridze indicates in released statement that he “from the very beginning, considered unfair and unreasonable a raising by National Bank of issue of transactions of 2007-2008 after 11 years and giving them qualification of conflict of interests”, as well as “launch of legal proceedings on the same transactions under article of money laundering”.


    KVIRIS PALITRA: “DAVID USUPASHVILI: WHY KHAZARADZE DID COMPLAIN TO IVANISHVILI THAT CHKHARTISHVILI OPPRESSES HIM?”

    February 18, 2019 - While commenting on case of TBC Bank, leader of Building Movement David Usupashvili (former leader of Republican Party), declares that “we should by no means allow retaliatory actions concerning bank or financial institution”. “On the other hand, that should not become the basis for concealment of the truth”, he adds.


    KVIRIS PALITRA: “BEST PROTECTION FOR KHAZARADZE WOULD BE PUBLICIZING OF UNOFFICIAL SUBJECTS”

    February 18, 2019 - According to talks in political lobby, Bidzina Ivanishvili (billionaire leader of ruling Georgian Dream), who returned to active political activity, was annoyed by spread information on alliance between Khazaradze and Giorgi Kvirikashvili (former premier minister), the newspaper says.

    The newspaper reminds that launch by Prosecutor’s Office of investigation of TBC Bank’s transactions of 2007-2008 coincided with notorious resignation of Kvirikashvili from the prime minister’s post.


companies

    BANKEBI DA FINANSEBI: “AFTER FAILED AGREEMENT WITH “M2”, “CENTERPOINT” HOLDS NEGOTIATIONS DIRECTLY WITH THE STATE”

    February 22, 2019 - Guka Rcheulishvili, one of founders of CenterPoint Group, the company does not seeks for private developers any more in order to satisfy affected clients (who paid for apartments under construction, which was never completed), and holds negotiations directly with the state, the newspaper reports.

    Between us and m2 (the developer company), “everything was adjusted, we agreed upon all conditions”, Rcheulishvili points.


transport & communications

    BANKEBI DA FINANSEBI: “ESTABLISHMENT OF HOURLY PAYMENT FOR PARKING WILL START ON JULY 1”

    February 21, 2019 - Enactment of hourly payment for parking in Tbilisi will start on July 1, originally on several streets, the newspaper reports.

    As Tbilisi Mayor Kakha Kaladze declared at the capital government meeting, the pilot project will be implemented at first on Kote Abkhazi Street (former Leselidze Street) and adjacent streets.


    TABULA: “BY THE NEW DRAFT BILL, ACQUISITION OF THE INSURANCE COULD BECOME OBLIGATORY FOR DRIVERS”

    February 19, 2019 - In Georgian Parliament, a draft bill is initiated, which obliges owners of cars, registered in Georgia, to purchase civil liability insurance, Tabula reports.

    Initiator of the draft is the government, while the author – the Finance Ministry.


agriculture & food

    BANKEBI DA FINANSEBI: “EXPORT OF SHEEP AND GOATS FROM GEORGIA DECREASED”

    February 20, 2019 - Referring to Sakstat, the newspaper reports that demand for Georgian sheep decreases.

    In particular, export of Georgian sheep and goats in 2018 made up 66,900 heads, against of 91,000 – in 2017 (i.e. year-on-year reduction made up 26.5%).


construction

    BANKEBI DA FINANSEBI: ““SHERATON METECHI” RETURNS TO TBILISI”

    February 20, 2019 - A 220-room hotel, located in historic center of Tbilisi, in 15 minutes from the international airport, will be opened on March 1, the newspaper reports.

    As the article notes, the hotel, part of Marriott chain, will operate under name of Sheraton Grand Tbilisi Metechi Palace, instead of former Sheraton Metechi.


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