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Economic Press Monitor

October 22 - 28, 2017

Previous Issues:  Days: < 14 21 28 04 11 > 

 

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economic & politics

    LIBERALI: “DEVELOPERS IN NEW SAKREBULO”

    October 27, 2017 - The magazine reports that companies, owned by two deputies of new composition of Tbilisi Sakrebulo (city council), are engaged in development activity. These deputies are Revaz Sokhadze and Alexander Khujadze, both elected by majority system (in Samgori and Nadzaladevi, respectively) from ruling Georgian Dream.


    TABULA: “NINO GVENETADZE ISSUED SUPPLEMENT OF 36,000 LARI TO HERSELF”

    October 27, 2017 - In January-September, chairman of Georgian Supreme Court Nino Gvenetadze received 63,000 lari as salary and 35,800 lari as supplement.

    In declaration, filled in 2017, Gvenetadze specified that during her chairmanship of Supreme Court in 2016, she got remuneration of 129,445 lari.


    NETGAZETI.GE: “WHAT WILL BE GEORGIA IN 2030 – GOALS OF SUSTAINABLE DEVELOPMENT”

    October 26, 2017 - Poverty overcoming, mortality reduction in car accidents, employment, affordable healthcare, eradication of family violence – this is part of goals of sustainable development, which have to be reached by 2030 globally, including Georgia, Netgazeti.Ge reports.

    The article notes that Georgia decided not to create the separate strategy document on actions for achievement of sustainable development’s objectives.


    LIBERALI: ““WE NEED AS MUCH “PANORAMAS TBILISI”, AS POSSIBLE” – KAKHA KALADZE”

    October 25, 2017 - Newly elected Mayor of Tbilisi Kakha Kaladze stated that development of the capital city requires much more projects, similar “Panorama Tbilisi” (initiated by billionaire ex-premier Bidzina Ivanishvili).

    On air of TV company Maestro, Kaladze declared that protests against of “Panorama Tbilisi” set as purpose prevention of this development and pointed that he will make everything for implementation of similar projects.


    TABULA: “BERA’S COMPANY WON TENDER OF “PUBLIC BROADCASTER” WORTH 346,098 LARI”

    October 25, 2017 - Company Silk Factor Studio won the tender worth 346,098 lari, announced by Public Broadcaster on provision of lighting and other kinds of special equipment, Tabula reports.

    Single owner of the company is Bera Ivanishvili, the son of billionaire ex-premier Bidzina Ivanishvili.


    REZONANSI: “KALADZE GOES TO TBILISI CITY HALL ON NOVEMBER 12 WITH NEW TEAM”

    October 24, 2017 - On November 12, former energy minister Kakha Kaladze will officially start governance of Tbilisi and he goes to the City Hall with new team, the newspaper says.

    The article reports that former deputy energy minister Irakli Khmaladze is considered as future vice-mayor.


    KVIRIS PALITRA: “DECISION OF CONSTITUTIONAL COURT TO COLLAPSE REAL ESTATE MARKET?”

    October 23, 2017 - A few days ago, Constitutional Court made decision, according to which the person is not recognized as conscientious owner, if claim is brought concerning respective record in the Public Register, and he/she is aware of it, the newspaper reports.

    The article specifies that the decision was made because of claim of some citizen, whose land plot the Public Register has registered to other person on the basis of false act of purchase and this property was resold twice after that.


macroeconomics & budget

    REZONANSI: ““FILTERED” PEOPLE TO BE RETURNED IN UNIVERSAL HEALTHCARE?”

    October 27, 2017 - Constitutional Court recognized unconstitutional that norm of the universal healthcare state program, which restricted participation in this program to those persons, who were beneficiaries of private insurance schemes as of July 1, 2013.

    That news very much pleased private insurers, the newspaper notes.


    BANKEBI DA FINANSEBI: “NATIONAL CURRENCY DEPRECIATED AGAIN – WHAT CAUSES DROP OF THE RATE”

    October 27, 2017 - For the last 3 days, lari has depreciated by 5 tetri and official exchange rate (set for October 26) makes up about 2.53 GEL/USD, the newspaper reports.

    In its turn, lari rate against euro has reached a historical maximum of depreciation – 2.9813 GEL/EUR (for the same October 26), the article specifies.


    FORBES GEORGIA: “THE WORLD BANK RAISED FORECAST FOR GEORGIA’S ECONOMIC GROWTH”

    October 25, 2017 - The World Bank (WB) forecasts that economic growth in Georgia to make up 4% in 2017, the magazine reports. As the article notes, previous forecast of the WB made up 3.5%.


energy, oil & gas

    FORBES GEORGIA: “EBRD TO FUND CONSTRUCTION OF “NENSKRAHES””

    October 25, 2017 - EBRD will finance construction of NenskraHES, allotting $214 million for that end, the magazine reports. As the article notes, EBRD board of directors will consider allocation of the credit at the end of November.


companies

    FORBES GEORGIA: “TV COMPANIES WITH BIGGEST VOLUMES OF GOVERNMENTAL ADVERTISING”

    October 26, 2017 - This year, budgetary organizations signed contracts with TV companies totaling to 4.65 million lari, of which 3.79 million lari is share of televisions of national and mixed coverage, the magazine reports.

    According to research of Media Development Fund (MDF), the largest contract (2.45 million lari) was signed from Imedi, while Rustavi-2, contract with which costs 503,914 lari, is the second.


    BANKEBI DA FINANSEBI: ““COCA-COLA” TO ISSUE SECURITIES IN NEAR FUTURE”

    October 26, 2017 - “In near future, we plan to issue securities”, founder of Coca-Cola Bottlers Georgia Temur Chkonia declares. The company, which was established as LLC, was transformed into JSC about a year and a half ago.


    BANKEBI DA FINANSEBI: “AFTER THE EU, GEORGIA-PRODUCED SEAMLESS PIPES TO BE EXPORTED TO THE US TOO”

    October 25, 2017 - Seamless pipes, manufactured by Rustavi metallurgical plant, will be exported to the US in November, the newspaper reports.

    “So far, there are starting volumes, about 1,000 t”, director general of the plant Nugzar Kachukhashvili declares.


    FORBES GEORGIA: “10 LARGEST GEORGIAN COMPANIES, WHICH WENT BANKRUPT”

    October 23, 2017 - In recent years, multiple large Georgian companies went bankrupt, the magazine states. The article names 10 such large bankrupt companies.


transport & communications

    REZONANSI: “BRINGING CARS IN ORDER FOR CHECKUP TO COST UP TO 1,000 LARI”

    October 24, 2017 - According to the newspaper’s calculations, optimum expenses for bringing in order car, manufactured before 2007, will make up about 500 lari, but if the car is over 20 years, then even 1,000 lari will be not enough.

    In the country, there are about 650,000 cars, which age is between 10 and 20 years, the article specifies and adds: it is doubtful that they will be able to pass obligatory inspection (enters in force in 2018) without considerable expenses.


finances & banking

    TABULA: “LADO GURGENIDZE LEFT “LIBERTY BANK””

    October 24, 2017 - Chairman of supervisory council of Liberty Bank Lado Gurgenidze left the bank, Tabula reports. He will continue activity in Lithuanian 4Finance, where he was appointed as chairman of supervisory council a few days ago.


agriculture & food

    EUGEORGIA.INFO: ““WEAK LINKS” OF GEORGIAN HONEY AND SUCCESS STORIES”

    October 26, 2017 - Last year, Georgia was included in so-called “Listing of territories and third countries”, from where export of honey to the EU is allowed.

    Georgian beekeepers face two factors, hampering expansion of their activity, Eugeorgia.Info says.


construction

    TABULA: “RAMISHVILI: WE WILL BUILD SKYSCRAPER FOR $100M AND IT WILL BE NAMED “SILK TOWER” INSTEAD OF “TRUMP””

    October 24, 2017 - Head of Silk Road Group Giorgi Ramishvili declares: “In Batumi, we will build skyscraper for $100 million, and it will be named Silk Tower instead of Trump”.

    “Architecturally, it will be precisely the same project, which was approved earlier by the Trump Organization and for which we have obtained the license”, Ramishvili explained to CNBC.


    BATUMELEBI: “THE GOVERNMENT PREPARED THE INVESTMENT CONCEPT REGARDING FORMER MILITARY GROUND IN GONIO”

    October 23, 2017 - According to concept of Ajara government, Gonio and territory of adjacent former military ground have to be development. It is supposed to develop this territory as high-class sea resort with corresponding infrastructure.


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