Georgian English Russian Main Register Company Partners Feedback
Sarke Information Agency
Georgian/English/Russian Menu

Daily News
Economic Press Monitor
Special Report
 
Georgian Business Ethics Web Conference


Economic Press Monitor

February 18 - 24, 2018

Previous Issues:  Days: < 10 17 24 03 10 > 

 

Note: Please login to get full access to the articles. If you are still not the Sarke's user, please register.

economic & politics

    NETGAZETI.GE: “KELLY: IMPARTIAL JUDICIARY IN GEORGIA IS VITAL FOR INVESTMENTS”

    February 23, 2018 - The US ambassador Ian Kelly says that problems still persist in Georgia from the point of view of judicial system’s impartiality. “The impartial judicial system, free from external influence, is vital for attraction of foreign investments”, he stresses.


    EUGEORGIA.INFO: “CONSIDERATION/ADOPTION OF METHODOLOGY OF INTRODUCTION OF RIA CLOGGED”

    February 23, 2018 - The Parliament had to approve methodology of Regulation Impact Assessment (RIA) at the autumn session of 2017, but this process has clogged for unknown reasons, Eugeorgia.Info says.

    In December 2017, parliamentary secretary of the government Shalva Tadumadze declared that work on the methodology has stopped because of reorganization of the government and its consideration, presumably, will be postponed for spring session.


    FORBES GEORGIA: “WEF: GEORGIA’S 10 MAJOR RISKS”

    February 22, 2018 - The World Economic Forum (WEF) published research on major global risks of 2018, the magazine reports.

    Within the study, respondents were asked to indicate those major risks, which are most connected to their business plans in the next 10 years.


    TABULA: “KELLY TO THE PREMIER: IF YOU DO NOT DEFINE THE COUNTRY’S NARRATIVE, IT WILL BE MADE BY THE NORTH”

    February 21, 2018 - “It is important to define a narrative of your country”, the US ambassador in Georgia Ian Kelly declared.

    “If you do not define that, someone other in the North will define it for you or will finance harmful forces in Georgian society in order they define different narrative, which is not in your interest”, Kelly specified.


    REZONANSI: “EVEN LOWLAND VILLAGES DEPOPULATE WITH LIGHTNING SPEED”

    February 20, 2018 - According to Sakstat, rural population of the country made up less than 1.59 million people as of January 1, 2017. During the last year, this population has decreased by 3,000 people.


    FORBES GEORGIA: “IMF DEMANDS THE GOVERNMENT TO RESTRICT CONCLUSION OF DIRECT AGREEMENTS WITH PRIVATE SECTOR”

    February 20, 2018 - IMF demands from Georgian government to restrict conclusion of direct agreements with private sector, the magazine says. IMF resident representative Francois Painchaud indicates that such agreements restrict competitive environment.


    FORBES GEORGIA: “IMF: WE SEE PROGRESS IN DIRECTION OF STRUCTURAL REFORMS”

    February 19, 2018 - While commenting on situation in Georgia, resident representative of the IMF Francois Painchaud states: “we see programs in direction of structural reforms”.

    “Fiscal deficit in 2017 will be about 3% of GDP that is improved by half of percent in comparison with the indicator, which we expected”, specifies Painchaud and adds: “That, on the one hand, reflects good revenues, while on the other hand, observance of parameters of expenses”.


    NETGAZETI.GE: “CONTRACT WORTH $599,000 – GEORGIA’S INSTRUCTION TO THE US LOBBYISTS FOR 2018”

    February 19, 2018 - On February 2, Georgian government signed the contract with Chartwell Strategy Group, under which the country will pay to this lobbyist company $54,545 a month until December 31, 2018 (i.e. $599,000 in total), Netgazeti.Ge reports.

    Through this sum, the government expects that the lobbyist company will facilitate to deepening of relations between Georgia and the US, the article notes.


    KVIRIS PALITRA: “METASTASIZES OF PARTSKHALADZIZM SPREAD IN AUTHORITY’S LOBBY”

    February 19, 2018 - State Audit Service published conclusion on compliance of property management by municipality of Tbilisi, which indicates considerable violations, the newspaper reports.

    In particular, the City Hall of Tbilisi sold (privatized) 980 objects through electronic auctions in 2015-2016, but majority of these auctions was held in noncompetitive conditions, while buyers were mainly owners of adjacent sites, the article notes.


macroeconomics & budget

    FORBES GEORGIA: “WB: LABOR FORCE WITH INADEQUATE EDUCATION IN GEORGIA”

    February 23, 2018 - In Georgia, “most of the population works in the low-productive agriculture and trade, where demand for university graduates is rather low”, the World Bank (WB) says. As a result, size of educated labor force exceeds demand, the WB specifies.


    FORBES GEORGIA: “THE WORLD BANK NAMES RISKS OF GEORGIAN ECONOMY”

    February 21, 2018 - The World Bank (WB) expects that Georgia’s economy will grow in the current year by 4.3%, in 2019 – by 4.6%, while in 2020 – by 5%, the magazine reports.

    At that, the WB indicates that “Georgia still remains unprotected because of high negative balance of international payments and risks of low export and remittances”.


energy, oil & gas

    REZONANSI: “GEORGIA FACES DANGER OF “DIGITAL FIRES””

    February 20, 2018 - Referring to experts, the newspaper says that “mining-farm” of digital currency increases electricity consumption 8-10 times, as well as increases temperature in power supply cables by 6-10 degrees.

    Power engineer Gia Arabidze indicates that mining equipment consumes quite big power and its use in household conditions is dangerous, especially in summer.


companies

    TABULA: “ASLY: “OMEGA GROUP” UNFAIRLY ATTACKS THE GOVERNMENT AND BEHAVES IRRESPONSIBLY”

    February 23, 2018 - Fady Asly, chairman of Georgian national committee of International Chamber of Commerce (ICC), considers that Omega Group “unfairly attacks the government and behaves non-professionally”.

    Asly says that Omega, which tried to receive fraudulently 270 million lari from British-American Tobacco, has started making false accusations against the government after the Supreme Court refused to consider the group’s claim.


    NETGAZETI.GE: “$4M AND “SETTLED PROBLEM” OF TV COMPANY “PIRVELI””

    February 23, 2018 - Vakhtang Tsereteli, single owner of TV Pirveli, together with journalists of TV channel, told on February 8 to non-governmental organizations about problems around TV channel, Netgazeti.Ge reports.

    The problems had aroused in summer of 2017, being related to that business, from which the television was subsidized.


    TABULA: “PRODUCTION OF “PUMA”, “NIKE” AND “NEW BALANCE” TO BE SEWN IN POTI”

    February 22, 2018 - On February 22, Achara Tekstil will open the enterprise in Poti. Turkish investments in the clothes factory amounted to 40 million lari, Tabula reports with reference to Sakmis Kursi (Business Course), program of broadcasting company TV Pirveli.


    NETGAZETI.GE: ““CYANIDE AREA” ON 19 HA – DISPUTABLE EXPANSION OF “RMG””

    February 21, 2018 - Aiming expansion of gold-mining enterprise in Sakdrisi, company RMG is going to arrange so-called “cyanide area” on 19 ha, Netgazeti.Ge reports.

    As the article notes, intentions of RMG are connected with its new project in Tetritskaro municipality (Kvemo Kartli region), which envisaged gold extraction on Bneli Khevi deposit.


international cooperation

    TABULA: “SWITZERLAND RATIFIED FREE TRADE AGREEMENT WITH GEORGIA”

    February 22, 2018 - Switzerland has passed ratification of the free trade agreement with Georgia, Tabula reports. The agreement, which was signed on June 27, 2016, will enter in force on May 1 this year.


    EUGEORGIA.INFO: “STATE PROCUREMENTS AGENCY’S REPORT ON FULFILLMENT OF DCFTA OBLIGATIONS”

    February 21, 2018 - In 2017, the EU partially opened its public procurements market for Georgia and the country joined the EU platform of state tenders, Eugeorgia.Info reports.

    The mentioned platform allows interested companies to find and analyze data on procurements in 35 jurisdictions.


finances & banking

    EUGEORGIA.INFO: “HOW CAN USE A BUSINESS THE CREDIT LINE OF EU4BUSINESS-EBRD”

    February 22, 2018 - Within EU4Business-EBRD program, signed in May 2016, financial resource was received by two Georgian banks – Sakartvelos Banki (Bank of Georgia, $50 million) and TBC Bank ($60 million). Since May, ProCredit Bank will join this program too (10 million EUR).


    KVIRIS PALITRA: “CREDIT PYRAMID TO COLLAPSE INEVITABLY”

    February 19, 2018 - Recently, banks offer more and more often instant loans with very high interest rates, which almost do differ from offers of online credit institutions, the newspaper says.

    Financial expert Irakli Berdzenadze points that “banks have turned recently to short-term crediting – they filled the space, freed from online credits after introduction of regulations during the last year”.


agriculture & food

    EUGEORGIA.INFO: “REVIEW OF DCFTA FULFILLMENT IN DIRECTION OF PHYTOSANITARY”

    February 22, 2018 - Through cooperation between state agencies of Georgia and relevant structures of the EU, the list was compiled of acts, which should be adopted in the sphere of food safety, veterinary and plants protection under Deep and Comprehensive Free Trade Agreement (DCFTA), Eugeorgia.Info reports.

    As the article notes, rapprochement with 102 legal acts of the EU is planned in respect of food safety, in direction of veterinary – with 84 acts, in terms of plants protection – 85 acts.


construction

    REZONANSI: “DISMANTLE OF “KHUSHOVKAS”: EITHER VARKETILI, OR VAZHA-PSHAVELA”

    February 20, 2018 - In Tbilisi, there are about 700 old apartment buildings, which operation term has expired long ago, the newspaper says.

    Merab Bolkvadze, member of group, working on general plan of land use in Tbilisi, declares that dismantle of such buildings (so-called “khrushovkas” – five-storey apartment blocks, built in 1950-1960-ies) has to start from Varketili district, as buildings there are in much bad condition, than on Vazha-Pshavela Avenue.


    TABULA: “INVESTOR FAILED TO BUILT 5-STAR HOTEL, SO THE BUILDING WAS RETURNED TO THE STATE”

    February 19, 2018 - The fire in the hospital building of the 19th century on Agmashenebeli Avenue in Tbilisi, which arose on February 18, is localized, but area of 800-1,000 square m is burned, Tabula reports.

    As the article notes, the building was handed over in 2015 to company Agma for $4 million with condition of construction of 5-stars hotel and investment of $57 million.


Note: Please login to get full access to the articles. If you are still not the Sarke's user, please register.

Exchange Rates (NBG)
  09/20/18 + / -
  USD   2.6193   0.0014
  EUR   3.0693   0.0087
  RUR   3.9538   0.0451
Get News in Brief by e-mail
Get daily News in Brief on your e-mail for free!
Announcements
Dear subscriber,

We are leaving for summer vacations until September 3. During that period, the site will not be updated.

Wish you happy and joyful vacations!

Sincerely,

Sarke Information Agency

Fujitsu Computer Systems Corporation

© 2018 Sarke Information Agency