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Economic Press Monitor

March 25 - 31, 2018

Previous Issues:  Days: < 17 24 31 07 14 > 

 

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economic & politics

    TABULA: “FACTS OF POSSIBLE CORRUPTION IN ZURAB ALAVIDZE’S DEPARTMENT”

    March 30, 2018 - In Regional Development and Infrastructure Ministry’s legal entities of public law, sign of possible conflict of interests and corruption are traced, writes Tabula. The ministry’s assignations for 2018 amount to 1.8 billion lari.


    TABULA: “FOREIGNERS WILL HAVE TO PASS BUREAUCRATIC LABYRINTH FOR PURCHASE OF LANDS IN GEORGIA”

    March 29, 2018 - According to the draft bill, a foreigner, who wishes to buy agricultural land in Georgia, will have to present a number of references and permissions from various departments, business plans and various tax documents, Tabula reports.

    The article describes requirements, which foreigners has to comply with in order to be recognized eligible for land acquisition, and indicates that consideration of the draft bill is planned to initiate in the Parliament in April.


    TABULA: “COMMITTEE FOR DMANISI SAVING BOUGHT EUCALYPTUS, LOCATED ON GREEN CAPE, FOR 20,000 LARI”

    March 28, 2018 - Fund for Dmanisi Saving bought 100-year eucalyptus, located on Green Cape (Ajara), for 20,020 lari, Tabula reports. The final price 2.8 times exceeded the starting one (7,000 lari).


    REZONANSI: “DRAFT BILL ON LAND TO BE SUBMITTED TO THE PARLIAMENT IN APRIL”

    March 27, 2018 - Otar Danelia, chairman of the Parliament’s Agrarian Committee, declared that draft bill on agricultural land will be submitted to the Parliament at the beginning of April.

    As Danelia noted, “alienation of land to individual foreigner will be forbidden, but form of rent is maintained”.


energy, oil & gas

    NETGAZETI.GE: “BECAUSE OF “DARIALHES”, TERGI RIVER HAS ALMOST DRIED UP”

    March 30, 2018 - Because of DarialHES, Tergi River is almost dried up throughout 8 km, Netgazeti.Ge reports. This is caused by move of 90% of Tergi’s average long-term water debit into derivational pipes and feeding of the river by remained 10% only, the article says.


    REZONANSI: “RISK OF FUEL SMUGGLING IS HIGH IN THE COUNTRY!”

    March 27, 2018 - Just 2-3 years ago, it would difficult to imagine reasonability of talks about 20-time increased smuggling of tobacco, however it surprises nobody today, the newspaper says.

    Explosive growth of excise created serious danger to the market, also smuggling of alcoholic beverages has grew 6 times, the article points.


conflict and court

    BANKEBI DA FINANSEBI: “FEELING OF INVESTMENTS’ VULNERABILITY – SWORD OF DAMOCLES OVER ECONOMY”

    March 30, 2018 - At the meeting with media a few days ago, the US ambassador in Georgia Ian Kelly mentioned cases of fining of American companies by Georgian court and pointed that Georgia has to enhance protection of investors, the newspaper says.

    “I think, that is a problem when judges consider arguments of the state generally more credible, than arguments of foreign business”, the ambassador declared.


    TABULA: “AUTHOR OF MASTER PLAN OF TBILISI DOES NOT EXCLUDE THAT HE WILL GO TO LAW AGAINST THE CITY HALL”

    March 29, 2018 - Mamuka Salukvadze, director general of City Institute, which authored the master plan of land use in Tbilisi, does not exclude that he will sue the City Hall of the capital, reports Tabula.

    The article says that the City Hall has remarks to the plan, prepared by the company, and does not support it.


    TABULA: “TECHNICAL MANAGER AND WAREHOUSE SUPERVISOR OF “LEOGRAND” ARE IN PRE-TRIAL DETENTION”

    March 26, 2018 - Batumi city court decided to apply pre-trial detention to technical manager and warehouse supervisor of Leogrand hotel, Tabula reports. The article notes that detainees, one of whom is citizen of Turkey, are threatened by imprisonment of 5-8 years.


companies

    BANKEBI DA FINANSEBI: “IN TBILISI, FIRST CRYPTOCURRENCY TERMINAL IS PLACED, WHICH CITIZENS ALREADY USE”

    March 30, 2018 - Platform tps.ge has installed the first terminal of cryptocurrency in Tbilisi restaurant New York Burger Tbilisi, the newspaper reports.

    Citizens use the terminal quite actively and soon additional terminals will be placed in the city, the article notes.


    BANKEBI DA FINANSEBI: ““BENEFITS” – NEW GEORGIAN INSURANCE COMPANY WITH INTERNATIONAL SERVICE STANDARDS”

    March 29, 2018 - American Global Benefits Group established insurance company in Georgia about a year ago, operating on the local market as reinsurer before that, the newspaper says.

    Nino Kobakhidze, director of Global Benefits Georgia, declares in interview to the newspaper that the company’s “major concern is that our products extend also to the international markets”.


    FORBES GEORGIA: “LARGEST EXPORTERS OF MEDICINES – THE TOP 5”

    March 28, 2018 - Packed drugs occupy the 5th position in Georgia’s export, the magazine reports. According to Sakstat, Georgia’s drug export amounted in 2017 to $140 million, making up 5.2% of total export.


    FORBES GEORGIA: ““BGEO” PLANS TO PLACE SHARES OF INDEPENDENT COMPANIES ON LONDON EXCHANGE IN THE END OF MAY”

    March 28, 2018 - BGEO plans completion of split into two separate companies for the end of May, the magazine reports.

    According to BGEO, placement of shares of Sakartvelos Banki (Bank of Georgia) on London Stock Exchange is expected on May 21.


    BANKEBI DA FINANSEBI: ““HEIDELBERG”, AFFILIATED WITH CO-INVESTMENT FUND, PLANS TO SINK RIVALS AND TO MONOPOLIZE THE MARKET TOTALLY”

    March 27, 2018 - Heidelberg Cement Georgia occupies 70% of the local market, the newspaper reports. In 2017, about 2.2 million t of cement was sold in Georgia, of which share of this company made up 1.6 million t, the article specifies.


    NETGAZETI.GE: “SUBSIDIARY OF “WISSOL GROUP” TO BE EXCLUSIVELY PAID 500,000 LARI – “CHECK IN GEORGIA 2018””

    March 27, 2018 - For placement of advertisement on banners, billboards and monitors within “Check in Georgia” project, Georgian National Tourism Administration will pay 500,000 lari to LLC Alma, Netgazeti.Ge reports.

    Single owner of Alma is Malta-registered Global Investors Limited, the newspaper specifies and notes that Alma is listed among affiliated brands of Wissol Group.


transport & communications

    REZONANSI: ““TAV GEORGIA” HAS TO SHARE DESTINY OF “CT PARK”!”

    March 27, 2018 - Irish low-coster Ryanair conducts for years negotiations regarding entry on Georgian market, the newspaper says. Representatives of the airline were in Georgia again a few weeks ago, but negotiations had ended without results, the article points.


    NETGAZETI.GE: “KAKHETI NEEDS SEPARATE AIRPORT”

    March 26, 2018 - “We have reached the stage, when Kakheti needs the separate airport”, Prime Minister Giorgi Kvirikashvili declared.

    The Premier said the mentioned at opening of hotel Akhasheni Wine Resort in Kakheti, Netgazeti.Ge reports.


international cooperation

    FORBES GEORGIA: “CONTRACTS, CONTRACTS, CONTRACTS”

    March 30, 2018 - In September 2017, the UK appointed special trade representative in Georgia – British MP Mark Pritchard. In May of this year, visit of British trade mission is planned, the magazine reported.


    EUGEORGIA.INFO: “121 ENTERPRISES WERE FINANCED THROUGH EU4BUSINESS-EBRD CREDIT LINE”

    March 28, 2018 - Through EU4Business-EBRD credit line, launched in September 2017, 121 enterprises are financed, Eugeorgia.Info reports.

    As the article notes, credits within this line are issued to enterprises according to “cashback” principle, which envisages return of 10-15% of issued sum to business.


    FORBES GEORGIA: “4 EU COUNTRIES, WHERE GEORGIA SELLS MORE PRODUCTS, THAN BUY”

    March 26, 2018 - In January-February 2018, Georgia had positive trade balance with only with 4 EU countries, the magazine reports. These are Bulgaria, Estonia, Lithuania and Malta.


finances & banking

    FORBES GEORGIA: “PROFIT OF MICROFINANCIAL ORGANIZATIONS DECREASED 3.4 TIMES”

    March 29, 2018 - In 2017, net profit of 75 microfinancial organizations, operating in Georgia, totaled to 44.5 million lari, being 3.4 times lower than in 2016, the magazine reports. The article indicates that the volume is also the lowest for the last 6 years.


    KVIRIS PALITRA: ““LOST” IN SURETYSHIP”

    March 26, 2018 - Quite many people are in debts today because of suretyship, which they provided in due time to borrower relatives or friends, the newspaper says.

    The article indicates that court practice has partially changed recently – despite existence of suretyship, in absence of written statement of the guarantor, the latter is completely exempted from liability.


agriculture & food

    LIBERALI: “THE GOVERNMENT BUYS 20 MILK COWS FOR 120,000 LARI”

    March 29, 2018 - The government buys 20 cows for 120,000 lari, Liberali reports. The article specifies that cows are procured within the state program on rational use of pastures.


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