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Additional Flights Will Be Performed To Ambrolauri

gbc.ge news - Fri, 08/19/2022 - 19:26
Tbilisi (GBC) – Union of Georgian Airports will add two additional flights to Ambrolauri due to Gemo-Fest 2022.

The NBG fined Credo Bank

gbc.ge news - Thu, 08/18/2022 - 12:41
Tbilisi (GBC) – The NBG fined Credo Bank with 44,000 GEL for hiding information. The supervisor identified 3 facts and 9 cases of misrepresentation of information in AML/CFT reporting (money laundering and terrorist financing risk supervision reports).

The NBG Fined Foreign Exchange Booths With 100,000 GEL

gbc.ge news - Thu, 08/18/2022 - 12:39
Tbilisi (GBC) – The National Bank of Georgia (NBG) fined foreign exchange booths with 100,000 GEL. Violation of regulation rules became the basis for fining 10 subjects. The supervisor revealed more than 10 facts of service without verification. The fine for each subject totals to 1,000 GEL.

Real Estate Sales Are Down In Tbilisi In July

gbc.ge news - Thu, 08/18/2022 - 12:38
Tbilisi (GBC) - In July 2022, the number of transactions, remained basically unchanged compared to the previous month (-0.3%), while it increased significantly relative to the same period of 2021 (+17.2%). The average asking sale price remained at the elevated level in July 2022 compared to July 2021 (+15.7%). However, in MoM terms sale prices declined by 0.6%, despite the GEL 3.6% appreciation against USD.

Gambling games are not available to 40% of the population of Georgia

gbc.ge news - Thu, 08/18/2022 - 12:38
Tbilisi (GBC) - According to the Revenue Service of the Ministry of Finance, from March 1 until now, 1,449,124 persons have been included in the "prohibited list" provided for by the Law "On Gambling Businesses".

Nut processing and drying plant was opened in Chokhatauri

gbc.ge news - Thu, 08/18/2022 - 12:37
Tbilisi (GBC) - A new hazelnut processing enterprise Megagro was opened in Chokhatauri municipality with the support of 300,000 GEL of the state program within the framework of "Integrated Development Program of Pilot Regions". Minister of Environment Protection and Agriculture Otar Shamugia, who got acquainted with the work of the enterprise on Thursday, named horticulture as a priority agrarian direction.

The Share Of foreign Exchange Loans Totals to 50% in The BOGG’s Portfolio

gbc.ge news - Thu, 08/18/2022 - 12:35
Tbilisi (GBC) - 80% of the loan portfolio or GEL 12.8 billion of the Bank of Georgia (BOGG), are loans secured by property. The systematic bank has reserved half a billion for possible losses.

Russian, Panamanian-flagged ships accepted at Georgian ports not connected to sanctioned Russian businesses - Revenue Service

gbc.ge news - Tue, 08/16/2022 - 21:38
Tbilisi (GBC) - Russian and Panamanian-flagged ships loaded with fuel and grain between August 11 and 15 and accepted at Georgia’s Poti and Batumi ports had “no connections” with companies sanctioned for Russia’s invasion of Ukraine, the Revenue Service of the Ministry of Finance of Georgia said on Tuesday.

Tegeta is still competitive in tenders

gbc.ge news - Tue, 08/16/2022 - 15:02
Tbilisi (GBC) - Tegeta Motors wins the electronic tender announced by the National Forestry Agency on August 12. The tender involves the repair and maintenance of 99 vehicles and related equipment.

The passenger card will be tied to the bank card - Kaladze

gbc.ge news - Tue, 08/16/2022 - 15:00
Tbilisi (GBC) - Tbilisi Mayor Kakha Kaladze declares, that the public transport passenger card will be integrated into the bank card. This initiative will affect the cards of TBC Bank and Bank of Georgia from September 1.

Meat production decreased by 0.6% in Q2

gbc.ge news - Tue, 08/16/2022 - 14:58
Tbilisi (GBC) - According to the preliminary data, at the end of the II quarter of 2022 the number of bovine animals decreased by 1.8 percent compared to the II quarter of 2021 and reached 1.0 million heads. Of which, the total number of dairy cows and buffaloes equaled 470.9 thousand heads, which is 2.0 percent more than the same indicator of the previous year.

Gov’t increased the budget for gasification of 244 settlements

gbc.ge news - Tue, 08/16/2022 - 14:57
Tbilisi (GBC) - According to the decree of the Government of Georgia, the total cost for construction works of gasification for the purpose of natural gas supply increases to 135,272,350 GEL. Prime Minister of Georgia Irakli Garibashvili has already signed the decree. The press service of the government disseminates information about this.

Number Of Card Payment Devices Up By 60, 000

gbc.ge news - Tue, 08/16/2022 - 14:56
Tbilisi (GBC) - The number of card payment devices increased by 60,412 units from January 2018 to June of this year and amounted to 96,253.

Russia Is The Leader By Money Transfers

gbc.ge news - Mon, 08/15/2022 - 12:11
Tbilisi (GBC) - In July 2022, the volume of money transfers from abroad constituted 306.0 million USD (871.2 million GEL), which is 46.8% (97.6 million USD) more than the amount in July 2021.

148 thousand visits were registered from Russia in Q2

gbc.ge news - Mon, 08/15/2022 - 12:09
Tbilisi (GBC) - In the II quarter of 2022, the number of arrivals of international non-resident travellers1 in the territory of Georgia equaled 1 049.4 thousand, which is 198.7 percent higher compared to the data from the same period of previous year. Most of the incomes, 47.0 percent, were made by travellers of 31-50 age groups.

The price of shares of Bank of Georgia and TBC increased sharply

gbc.ge news - Mon, 08/15/2022 - 12:09
Tbilisi (GBC) - Bank of Georgia Group (BGEO LN) shares closed at GBP 18.00/share (+5.26% w/w and +28.02% m/m). More than 273k shares traded in the range of GBP 16.52 - 18.14/share. Average daily traded volume was 68k in the last 4 weeks. The volume of BGEO shares traded was at 0.56% of its capitalization.

Eurobonds of the GR traded 0.09% lower in the previous week

gbc.ge news - Mon, 08/15/2022 - 12:08
Tbilisi (GBC) - Bank of Georgia Group Eurobonds (GEBGG) closed at 4.34% yield, trading at 101.55 (+0.83% w/w).

The NBG Bought USD 211,6 MLN

gbc.ge news - Mon, 08/15/2022 - 12:06
Tbilisi (GBC) - International reserves at US$ 4.2bn in Jul-22 Gross international reserves increased by 7.3% y/y to US$ 4.2bn in Jul22 according to NBG. On a monthly basis, the reserves were up by 6.0% (+US$ 234.3mn). Notably, NBG purchased US$ 110mn through BMatch platform in Jul-22. Other changes in reserves were attributed to the government and banking sector FX operations, and/or asset revaluation, - according to the Weekly Update published by the Galt&Taggart.

TBC Capital : GEL Strengthening Could not be stopped even by the NBG’s large-scale interventions

gbc.ge news - Mon, 08/15/2022 - 12:05
Tbilisi (GBC) - The GEL appreciation pressures continued throughout the week, now coupled with the sizable NBG interventions, - reads the report published by TBC Capital.

Imported pasta price increased by 63%

gbc.ge news - Fri, 08/12/2022 - 19:45
Tbilisi (GBC) - In June, 1.5 thousand tons of pasta worth $1.8 million were imported into Georgia, which in monetary terms is 68% more than the same period of the previous year (June 2021: $1.1 million, 1.4 thousand tons).
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