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Economic Press Monitor
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Economic Press Monitor

August 30 - September 5, 2020

Previous Issues:  Days: < 08 15 05 12 19 > 

 

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economic & politics

    TABULA: “THE US EMBASSY ON CYBERATTACK ON LUGAR CENTER: WE CONDEMN THIS RECKLESS AND DANGEROUS ATTACK”

    September 4, 2020 - On September 1, computer system of Georgian Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection was attacked. According to Georgian Interior Ministry, the cyberattack “was carried out from one of the foreign states”.


    BANKEBI DA FINANSEBI: “ANDRIA BASILAIA – PROJECT OF NIGHT ECONOMY IS NOT STOPPED, WILL PROCEED”

    September 4, 2020 - Andria Basilaia, Deputy of Tbilisi Mayor, declared that “project of night economy is not suspended” in Georgian capital. After resignation of the project manager Sergi Gvarjaladze, functions of this project will be combined by the City Hall’s service of culture, he said.


    TABULA: “RIZHVADZE: IN AJARA, MONITORING OF ALL FOOD OBJECTS, INCLUDING NIGHT CLUBS, WILL BE TOUGHENED”

    September 3, 2020 - Out of 38 COVID-19 cases, confirmed in Georgia on September 2, Batumi accounts for 22, Tabula reports, pointing that 21 of Batumi cases are connected with candy store Dona.

    Tornike Rizhvadze, head of Ajara government, declared that “monitoring will be toughened and requirements increased concerning all objects of public catering, including night clubs”.


    TABULA: “GAMKRELIDZE: TIGHT RESTRICTIONS IN THE COUNTRY ARE NOT PLANNED, ECONOMY CANNOT STOP”

    September 3, 2020 - Amiran Gamkrelidze, director of Georgian National Center for Disease Control and Public Health, said that “with high probability, there will be no tight restrictions in the country” in connection with increased number of COVID-19 cases. “It not only ours, but also international practice”, he pointed.


    TABULA: “CUT OF BUREAUCRACY, 100,000 JOBS – WHAT PLAN OF “EUROPEAN GEORGIA” CONTAINS”

    September 2, 2020 - In the run-up to October parliamentary elections, oppositional European Georgia presented its economic program. The party also presented “the contract with the people”, which will be signed with each citizen of Georgia and envisages steps, which the party undertakes to do, Tabula reports.


    NETGAZETI.GE: “FRONTIER GUARDS WILL DECIDE ON THE PLACE, WHETHER TO LET GEORGIANS TO THE EU – THE BILL”

    September 2, 2020 - Supposedly, on September 4, Georgian Parliament will vote in third (final) hearing legislative amendments, which authorize the Interior Ministry not to let out Georgian citizen to the Schengen area if they do not meet set criteria, reports Netgazeti.Ge. In case of adoption, the amendments will enter in force since 2021.


    BANKEBI DA FINANSEBI: “THE GOVERNMENT DOES NOT CONSIDER PENALTIES’ WRITE-OFF FOR FINED RESTAURANTS AND HOTELS”

    September 1, 2020 - Georgian government does not consider a write-off of penalties for restaurants and hotels, which were fined because of violation of regulations, introduced in connection with COVID-19.

    Georgia’s Minister of Economy and Sustainable Development Natia Turnava pointed: “A penalty has sense and power only if we foreknow that it must be paid”.


    BANKEBI DA FINANSEBI: “MANAGER OF NIGHT ECONOMY OF TBILISI SERGI GVARJALADZE LEFT THE OFFICE”

    September 1, 2020 - Sergi Gvarjaladze, manager of “night economy” of Tbilisi, filed his resignation from the office. He said that he already executed the duties, which envisaged creation of the corresponding strategy.


    TABULA: “BEFORE ELECTIONS, GARIBASHVILI WROTE OFF UP TO 1,000 CITIZENS’ DEBT TO MILITARY HOSPITAL”

    September 1, 2020 - Irakli Garibashvili, Georgia’s Defense Minister, initiated write off citizens’ old (3 and more years) debt to Military Hospital, which total amount makes up 1.6 million lari. Number of such citizens makes up about 1,000.


energy, oil & gas

    FORBES GEORGIA: “EBRD: ENERGY EFFICIENCY LAW WILL ASSIST GEORGIA IN DECREASE OF INFLUENCE ON CLIMATE”

    September 4, 2020 - EBRD estimates that legislation on energy efficiency, adopted by Georgia in this May, will allow the country to save 14% of energy consumption by 2025.

    At that, implementation of the law will assist Georgia in reduction of negative impact on climate, EBRD notes.


companies

    FORBES GEORGIA: “FINAL TERM IS GIVEN TO “CAUCASUS ONLINE” FOR CHANGE OF TRANSACTION – ARTICLE OF “CAPACITY MEDIA””

    September 4, 2020 - Capacity Media, global source of telecom news and events, publishes article about litigation between Georgian National Communication Commission and local telecom provider Caucasus Online, the magazine reports.

    As the article of Capacity Media indicates, the Commission has issued a final deadline for NEQSOL Holding to reverse its acquisition of 49% in Caucasus Online, setting it on September 20.


    FORBES GEORGIA: ““GALT&TAGGART” AGAIN PLACED SUCCESSFULLY 2-YEAR BONDS OF “GEORGIAN” “LEASING COMPANY” WORTH $10M”

    September 3, 2020 - On August 31, Galt&Taggart investment company has once again secured placement of bonds of LLC Georgian Leasing Company, the magazine reports.

    The matter concerns 2-year bonds of $10 million, which are the 5th emission of Georgian Leasing Company.


    FORBES GEORGIA: “FACING NEW REALITY”

    September 2, 2020 - Fred Smits, general manager of Sheraton Grand Tbilisi Metechi Palace, says that there are no tourists in the hotel at all now and only business booking is fixed. Load rate of other large Tbilisi hotels is also very low, he notes.


    FORBES GEORGIA: “LAW FOR ONE AND AGAINST ANOTHER – CASE OF “CAUCASUS ONLINE””

    September 2, 2020 - The magazine reminds that Georgian National Communication Commission recognized on October 17, 2019, telecom operator Caucasus Online as the offender because of alienation of share without prior notification of the Commission.

    However, director general of Caucasus Online Revaz Kobaladze claims that it was impossible for the company to fulfill demand of the Commission.


    FORBES GEORGIA: “BRAND, WHICH BRINGS TOURISTS”

    September 1, 2020 - Batumi-located 5-star hotel Le Meridien (brand of Marriott Group), calculated on 230 guests, is filled on holidays by 60-70% on average, the magazine reports. At this stage, the hotel employs 300 people.


finances & banking

    BANKEBI DA FINANSEBI: “WITH MORTGAGE LOANS’ 4% SUBSIDIZING BY THE GOVERNMENT, CREDITS OF 90M LARI ARE ISSUED AT THE MOMENT”

    September 3, 2020 - Alexander Dzneladze, president of Georgian Banks Association, reported that about 1,000 credits are issued as of August 16 within the subsidizing program. Total volume makes up about 90 million lari, he noted.


    FORBES GEORGIA: “NATIONAL BANK’S REFORMS ON FOREX MARKET”

    September 1, 2020 - National Bank of Georgia (NBG) developed rule of market activity for participants of forex market, which will enter in force on October 1.

    Under new rule, banks and their clients will trade through Bmatch, new automated forex platform of Bloomberg.


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