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Economic Press Monitor

January 28 - February 3, 2018

Previous Issues:  Days: < 20 27 03 10 17 > 

 

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economic & politics

    TABULA: “THE AUDIT SERVICE NOTIFIED PROSECUTOR’S OFFICE ON VIOLATIONS IN “PUBLIC BROADCASTER””

    February 2, 2018 - State Audit Service applied to Prosecutor’s Office concerning violations, revealed in Public Broadcaster, Tabula reports.

    The matter concerns the fee of the member of board of trustees of the company, issued in 2016 with excess of 12,000 lari (income tax exclusive).


    TABULA: “IN 2015-2016, SALARY OF 1,182,139 LARI WAS PAID IN “PUBLIC BROADCASTER” WITHOUT AUTHORIZATION BY TRUSTEES BOARD”

    February 2, 2018 - Referring to State Audit Service, Tabula reports that in 2015-2016, director of Public Broadcaster had increased the employees’ payroll by 1.18 million lari, not coordinating the action with the board of trustees of TV channel. That time, office of the director was occupied by Giorgi Baratashvili.


    NETGAZETI.GE: “POST OF INSPECTOR FOR PERSONAL DATA PROTECTION TO BE CANCELLED – DRAFT BILL”

    February 2, 2018 - After creation of State Inspection Service, post of inspector for personal data protection will be cancelled, Netgazeti.Ge reports.

    The Justice Ministry acquainted non-governmental organizations with draft bill “On Service of the State Inspector” on January 31.


    REZONANSI: “RUSSIAN-GEORGIAN AGREEMENT – THE NOT-ENACTED DOCUMENT ON THE VERGE OF FAILURE”

    January 30, 2018 - Zurab Abashidze, special representative of Georgian Prime Minister in relations with Russia, reminds that in December 2017, Georgian side has signed with Swiss company (SGS) the contract on monitoring of freight turnover on the Russian-Georgian border.

    That time, Russian side had stated that “they have been in preparation for this too”, Abashidze declares, though adds: “recently, we heard interpretations, which cause very serious questions in connection with implementation of the agreement”.


    TABULA: “BEER CONSUMPTION INCREASED IN 2017, BUT IT WAS STILL LOWER THAN IN 2014”

    January 29, 2018 - In 2017, 101.85 million l of beer was consumed in Georgia, Tabula reports with reference to Sakstat and notes that beer market has increased by 8.3%.

    The article indicates that despite growth, beer market is smaller, than it was in 2014.


    TABULA: “RESULTS OF EXCISE GROWTH: TWENTYFOLD SMUGGLING, INFLATION AND CONSUMPTION, DECREASED BY 15%”

    January 29, 2018 - Raise in 2017 of excise on tobacco products and fuel was reflected in inflation and reduction of tobacco consumption, Tabula says. At that, the article notes that rise of excise has caused sharp growth of smuggling.


energy, oil & gas

    FORBES GEORGIA: “EBRD BOARD OF DIRECTORS UNANIMOUSLY APPROVED FINANCING OF “NENSKRAHES” PROJECT”

    February 2, 2018 - On January 31, EBRD board of directors unanimously approved financing of NenskraHES project, the magazine reports.

    As the article notes, Nenskra with capacity of 280 MW will become the largest hydroelectric station in the history of independent Georgia.


    REZONANSI: “DEMAND FOR GAS QUICKLY GROWS, WHICH WILL BE FOLLOWED BY RAISE OF TARIFF”

    February 1, 2018 - According to Georgia’s energy balance, the country will not buy Russian gas in 2018. Respectively, the main supplier is Azerbaijan, from which purchase of up to 2.68 billion cubic m of gas is planned, the newspaper reports.


companies

    FORBES GEORGIA: “GEORGIAN PRODUCTION’S 10 LARGEST EXPORTER COMPANIES”

    January 31, 2018 - In 2017, Georgia’s export amounted to $2.73 billion, increasing by 29.1% year-on-year.

    With reference to Sakstat, the magazine publishes list of 10 largest exporter companies (excluding re-export).


    FORBES GEORGIA: “GEORGIA’S 10 LARGEST IMPORTER COMPANIES”

    January 31, 2018 - In 2017, Georgia’s import amounted to $7.98 billion, increasing by 9.4% year-on-year.

    With reference to Sakstat, the magazine publishes list of 10 largest importer companies.


transport & communications

    REZONANSI: “IN TBILISI, THERE ARE 15 CARS PER EACH PARKING PLACE”

    February 1, 2018 - Developers Association considers that parking problem in Tbilisi could be resolved through increase of parking fee at least 5 times, the newspaper reports.

    “We have half a million cars in the city, while parking system, which is operated by CT Park company, totals to about 32,000 places”, the Association indicates.


finances & banking

    FORBES GEORGIA: “GEORGIA AND DIGITAL SERVICES”

    February 2, 2018 - “Digitalization of Life”, the research, conducted by order of MasterCard, says that “citizens of Georgia support global digital trends, and even outstrip in some directions the European priorities in innovations”, the magazine reports.

    Thus, mobile phone was named the most preferred mean of settlement by 74% of respondents in Georgia, whereas by 60% in Europe.


    KVIRIS PALITRA: “WHO WILL DISAPPEAR FROM THE CREDIT MARKET”

    January 29, 2018 - Sphere of regulation of National Bank of Georgia (NBG) will apply to all lending or depositing organizations, which receives or issues funds from/to more than 20 persons, the newspaper reports. Corresponding legislative amendments will be enacted step by step and will enter in full force on January 1, 2019.


    TABULA: ““TERABANK”: FORMER DEPOSITOR OF THE BANK TRIES TO MISLEAD THE PUBLIC”

    January 29, 2018 - Terabank declares that “upon consideration of the case in court of the first instance, it was unambiguously confirmed” that “the bank did not appropriate deposit of the former client, as the claimant had asserted in the claim”.

    At the same time, the court satisfied “only small part – about 20%” of the sum, demanded by the claimant, the bank indicates.


construction

    TABULA: “KALADZE: CONSTRUCTION OF HOTEL IS NOT PLANNED ON RUSTAVELI AVENUE, DO NOT TRUST TO FALSE ALARM”

    February 1, 2018 - Tbilisi Mayor Kakha Kaladze assures that “no construction is planned” on Rustaveli Ave. 12 in Tbilisi and “no coordination of the project was held”.

    “If construction of any project is planned, it will become a subject of common consideration”, the Mayor declares, adding: “So, do not trust to false alarm”.


    NETGAZETI.GE: “FORMER FILM PAVILION, A CULTURE MONUMENT, IS ON SALE”

    January 31, 2018 - Building of former film pavilion, which is located on Agmashenebeli Ave., 164 in Tbilisi, is on sale, Netgazeti.Ge reports. The pavilion, built in 1927-1930, is a monument of cultural heritage.


    NETGAZETI.GE: “WHO PLANS CONSTRUCTION OF $80-MILLION HOTEL ON RUSTAVELI AVENUE”

    January 31, 2018 - Perhaps, Four Seasons hotel will be built in Tbilisi, on Rustaveli Ave. 12, Netgazeti.Ge reports.

    Council for cultural heritage protection gave consent to preliminary coordination of the hotel’s sketch, the article specifies.


    REZONANSI: “ISSUE OF UNREGISTERED AREAS IN TBILISI IS FINALLY RESOLVED”

    January 30, 2018 - Persons, who still reside in Tbilisi in unregistered living space, will get the property right after passing of corresponding procedure, the newspaper reports.

    According to new head of the City Hall’s agency on property management Irakli Tavartkiladze, the mentioned persons have to address to their gamgeoba (district administration), which will consider each issue and will present intercession to the Agency.


    LIBERALI: “IN “VARKETILI” SUBWAY STATION, WHERE THE CEILING HAS DROPPED, REHABILITATION WORKS WERE FINISHED IN SEPTEMBER”

    January 30, 2018 - In Varketili subway station, where the ceiling has dropped today, rehabilitation was finished in September 2017, the magazine reports.

    The works were conducted since 2016 by the tender-winner LLC Kvarelremmsheni (Kvareli Repairer Builder).


    BANKEBI DA FINANSEBI: “WATERLOGGED KOBULETI – TRACES OF THE ROAD, BUILT BY CHINESE “SINOHYDRO””

    January 30, 2018 - Because of withdrawal of inert material nearby to Kintrishi River in Ajara, farmlands are waterlogged today, the newspaper reports.

    The article specifies that withdrawal of crushed stone from farmlands nearby to Khutsubani village in Kobuleti municipality was conducted by Chinese company SinoHydro.


    FORBES GEORGIA: “THE BUSINESS OF EMOTIONS”

    January 29, 2018 - Nikoloz Geguchadze, project manager of Dreamland Oasis complex, located in sea resort Chakvi, says that they had started investment in 2014, and have invested for now about 35 million EUR in hotel and apartments. Another project, worth 15 million EUR is also underway, he specifies.


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