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Economic Press Monitor

January 17 - 23, 2021

Previous Issues:  Days: < 02 16 23 30 06 > 

 

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economic & politics

    TABULA: “WHAT IS CHARITY OF IVANISHVILI AND HOW MUCH MONEY HE RETAINED”

    January 22, 2021 - Bidzina Ivanishvili, billionaire leader of ruling Georgian Dream, declared on January 12 that he will hand over biggest part of own property to the charity fund Cartu, established by him.

    Among the passed assets are objects, which are part of the structure of Tourism Development Fund, and those, which operate under brand Cartu, including Cartu Bank and insurance company Cartu.


    REZONANSI: “BAD SCENARIO: OPENING OF ECONOMY WILL CONTINUE ALMOST UNTIL SUMMER”

    January 22, 2021 - If it took 2.5 months to open economy, completely closed during first wave of COVID-19, the government will remove a partial lockdown during much more time, the newspaper assumes.

    Maia Tskitishvili, Georgia’s First Deputy Premier and Minister of Regional Development and Infrastructure, declared that policy of point restrictions will last until the virus is defeated completely.


    NETGAZETI.GE: “MANDATE OF LABOR INSPECTORATE EXPANDED – WHAT WILL CHANGE FOR EMPLOYEES”

    January 21, 2021 - The article says that after several months of acrimonious debates, Georgian Parliament adopted in 2020 a labor reform. As a result, besides transformation of Labor Inspectorate from department under the Ministry of IDPs from Occupied Territories, Labor, Healthcare and Social Protection into separate legal entity of public law, mandate of this structure has been expanded from January 1, 2021.


    BANKEBI DA FINANSEBI: “NIKA NANUASHVILI: NEW LABOR CODE WILL BE ADDITIONAL BUREAUCRATIC BURDEN FOR BUSINESSES”

    January 21, 2021 - Amendments, made to Georgian Labor Code, authorize Labor Inspectorate to enter companies without any warning.

    “Naturally, this will be an additional bureaucratic burden for business”, said Nika Nanuashvili, legal director of Georgian Business Association, on air of Public Broadcaster.


    NETGAZETI.GE: “ZURAB POLOLIKASHVILI WAS ELECTED AS SECRETARY GENERAL OF THE UN TOURISM ORGANIZATION FOR THE 2ND TERM”

    January 20, 2021 - Zurab Pololikashvili is elected as Secretary General of the UN World Tourism Organization (UNWTO) for the second term (2022-2025), Netgazeti.Ge reports. Pololikashvili was elected to his first term in 2017.


    BANKEBI DA FINANSEBI: “TURNAVA – RELATIONS BETWEEN THE US AND GEORGIA ARE AT VERY HIGH LEVEL IN ALL DIRECTIONS”

    January 20, 2021 - Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, declared that relations between the US and Georgia are at very high level in all aspects and directions. I would particularly highlight economic cooperation, she noted.


    TABULA: “TEST, VACCINATION DOCUMENT – ON WHAT CONDITION WILL GEORGIAN GOVERNMENT RESTORE REGULAR FLIGHTS”

    January 20, 2021 - Natia Turnava, Georgia’s Minister of Economy and Sustainable Development, said that the country will cancel restrictions on regular flights in February.

    “This will be very specific entry, with controllable tests, vaccination document or other adequate documents”, the Minister said on air of Imedi TV.


macroeconomics & budget

    BANKEBI DA FINANSEBI: ““MAJOR PROJECTS ARE LAUNCHED, WHICH WILL AFFECT ECONOMY IN 2021, INCLUDING “NAMAKHVANHES”, WHICH VOLUME MAKES UP $800M””

    January 18, 2021 - Referring to preliminary data, the newspaper reports that volume of foreign direct investment, made in Georgia, decreased in 2020 by 24%.

    According to Georgia’s Minister of Economy and Sustainable Development Natia Turnava, last year, “the US, the Netherlands and Great Britain were leaders among the top countries”.


conflict and court

    FORBES GEORGIA: “IN LITIGATION WITH “CREDIT SUISSE”, IVANISHVILI PRESENTED ARCHIVE OF MAIL CORRESPONDENCE OF IRAKLI GARIBASHVILI AND GIORGI BACHIASHVILI”

    January 18, 2021 - Supreme Court of Bermuda is considering a litigation between Bidzina Ivanishvili, richest living Georgian, and subsidiary of Credit Suisse, the magazine reports.

    The article specifies that this litigation, which is part of the processes underway in Switzerland and Singapore, is connected with fraudulent activities of Patrice Lescaudron, Ivanishvili’s personal banker.


companies

    FORBES GEORGIA: “HOW MANY MILLIONS REVENUES OF GEORGIAN SUPERMARKETS MAKE UP?”

    January 22, 2021 - Annual turnover of Georgian sector of fast moving consumer goods (FMCG) makes up about 8 billion lari, the magazine reports. Major players of the sector are chain supermarkets.


    FORBES GEORGIA: “WHO OWNS “RMG GOLD” AND HOW MANY MILLIONS ARE ITS REVENUES?”

    January 22, 2021 - Owners of the controlling stake in RMG (Georgian gold and copper mining group, which unites RMG Copper and RMG Gold) are Russian billionaires Dmitry Troitsky and Dmitry Korzhev.

    According to audited report of RMG Gold for 2019, the company’s revenues totaled to 237.93 million lari, increasing year-on-year by 13.3%.


    FORBES GEORGIA: “REVENUES OF COMPANIES SELLING APPLIANCES IN GEORGIA”

    January 21, 2021 - Georgia annually buys electrical appliances of about $ 250 million, from which smartphones make up $158 million, the magazine reports.

    The article brings indicators of those largest market players, which have already published their annual reports.


    NETGAZETI.GE: “THE 30TH YEAR OF “ALDAGI””

    January 21, 2021 - For 30 years, reimbursements of insurance company Aldagi total to 320 million lari, reports Netgazeti.Ge. In 2020, the company reimbursed over 90 million lari to its clients.


    TABULA: ““WIZZ AIR” DOESN’T PLAN TO RESUME FLIGHTS FROM GEORGIA, NEITHER TO RIGA, NOR TO DORTMUND”

    January 18, 2021 - Hungarian low-coster Wizz Air postponed flights from Georgia until March, including ones on Riga and Dortmund directions, Tabula reports.

    The article suggests that flights to 12 destinations will be resumed only after Wizz Air returns its base to Kutaisi airport.


ecology & health

    NETGAZETI.GE: “HOW THE AUTHORITIES PLAN TO PROMOTE WASTE SEPARATION”

    January 20, 2021 - Maia Bitadze, chair of Georgian Parliament’s Environmental Protection Committee, declares that discussions have been launched on models of promotion of household waste separation by the population. Georgia undertook obligation to separate waste under agreement on association with the EU.


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