The News in Brief
Thursday, July 2
Rustavi smelter plant fires hundreds of employees due to lawsuit
Rustavi Poladi, a smelter plant in a town 20km away from the capital, has fired hundreds of employees because of a lawsuit.
Nugzar Kachukhashvili, Director of Rustavi Poladi Ltd, said at a press conference on Monday that the ‘unfair lawsuit’ against the company has put them in a difficult situation, which adds to global factors, such as a drop in the prices of metal in the international market.
He explained that prices of the company’s product went down by 40 percent at the end of 2014, which has worsened their financial indicators.
In addition to this, there have been restrictions imposed by the court recently; they are not allowed to use slag supplies.
“Because of some Eter Mtvralashvili’s complaint to provide 4,553 laris and 48 tetris the court restricted the company from using property in amount of tens of million,” he said. “Those restrictions significantly increase the expenses for raw material for the plant putting company into deadlock.”
For these reasons, the company had to fire many of its employees, he explained, and said that lawsuits are underway in the courts on several levels.
Kakhuchashvili said that in the beginning, the number of employees was 2,500. In February, they dismissed 360 employees. Today, there are 2,100 employees, and the plan is to fire from 300 to 500 more employees, but this depends on the court’s decision.
The dismissed employees will get one month’s compensation and will be selected according to the effectiveness of their work. (DF watch)
Betsson Buys Georgian Gambling Firm Europe-Bet
The Swedish gambling company Betsson announced on June 29 that it will be purchasing the privately owned Georgian betting and online gambling operator Europe-Bet for USD 50 million.
An additional USD 35 million will be paid after a year provided the gambling regulation in Georgia remains unchanged, according to the deal that is expected to be closed in July.
Betsson said that the acquisition will make it the second largest online gaming operator in Georgia with up to 30% market share.
The revenue of Europe-Bet, which currently has ten Georgian shareholders, was USD 52.4 million in 2014 with online operations accounting for USD 40.8 million. Its online business is mainly driven by sports books, accounting for 44% total revenue last year. (Civil.ge)
Nodar Javakhishvili met the representatives of the Asian Development Bank
Minister of Regional Development and Infrastructure of Georgia, Nodar Javakhishvili and the director of United Water Supply Company, Nikoloz Kizikurashvili met the representatives of Asian Development Bank. Two sides discussed ongoing and planned projects funded by the Asian Development Bank. The United Water Supply Company realizes the Urban Services Improvement Investment program with support of ADB. The total cost of the program is $ 500 million. This amount will be spent for construction and rehabilitation of the drinking water and sewerage systems in 7 cities and towns of Georgia. It is planned to purchase a variety of equipment, including the special equipment and laboratory equipment with the support of the Asian Development Bank.
The guests positively assessed the activities undertaken by the Georgian side and expressed the desire of future cooperation. The Asian Development Bank is an important partner of the Ministry and many important projects are being implemented with its support, in different directions. (MRDI.ge)
"Narmania`s inability is fatal, he has to become a mayor at least now" - Aleko Elisashvili
"Narmania`s inability is fatal, he has to become a mayor at least now,” declared independent council MP, Alexander Elisashvili, in the talk show "The Choice".
Elisashvili said that the City Hall has studied the Vere ravine before the disaster of June 13, when flooding occurred on June 5 at the same place in a relatively small size.
"What has been done to prevent the flooding? People have been calling for one hour asking for help but no attention was paid. It is the City Hall"s responsibility that people died there, "- says Elisashvili. (Rustavi2)
Defense Ministry officials are leaving the Ministry
Two senior officials have left the Ministry of Defence today. Deputy Chief of the General Inspectorate, Valery Zumbadzeand and the deputy chief of military inspection, Robert Grigalashvili have resigned. The resignation was confirmed by the Defense Ministry.
"Recently groundless allegations and slanderous campaign was started against me. In order to safeguard the image of the Defense Ministry, I decided to leave this position. I decided to file a lawsuit against the authors of the defamatory statements in court,” writes Zumbadze. (Rustavi2)
Rustavi Poladi, a smelter plant in a town 20km away from the capital, has fired hundreds of employees because of a lawsuit.
Nugzar Kachukhashvili, Director of Rustavi Poladi Ltd, said at a press conference on Monday that the ‘unfair lawsuit’ against the company has put them in a difficult situation, which adds to global factors, such as a drop in the prices of metal in the international market.
He explained that prices of the company’s product went down by 40 percent at the end of 2014, which has worsened their financial indicators.
In addition to this, there have been restrictions imposed by the court recently; they are not allowed to use slag supplies.
“Because of some Eter Mtvralashvili’s complaint to provide 4,553 laris and 48 tetris the court restricted the company from using property in amount of tens of million,” he said. “Those restrictions significantly increase the expenses for raw material for the plant putting company into deadlock.”
For these reasons, the company had to fire many of its employees, he explained, and said that lawsuits are underway in the courts on several levels.
Kakhuchashvili said that in the beginning, the number of employees was 2,500. In February, they dismissed 360 employees. Today, there are 2,100 employees, and the plan is to fire from 300 to 500 more employees, but this depends on the court’s decision.
The dismissed employees will get one month’s compensation and will be selected according to the effectiveness of their work. (DF watch)
Betsson Buys Georgian Gambling Firm Europe-Bet
The Swedish gambling company Betsson announced on June 29 that it will be purchasing the privately owned Georgian betting and online gambling operator Europe-Bet for USD 50 million.
An additional USD 35 million will be paid after a year provided the gambling regulation in Georgia remains unchanged, according to the deal that is expected to be closed in July.
Betsson said that the acquisition will make it the second largest online gaming operator in Georgia with up to 30% market share.
The revenue of Europe-Bet, which currently has ten Georgian shareholders, was USD 52.4 million in 2014 with online operations accounting for USD 40.8 million. Its online business is mainly driven by sports books, accounting for 44% total revenue last year. (Civil.ge)
Nodar Javakhishvili met the representatives of the Asian Development Bank
Minister of Regional Development and Infrastructure of Georgia, Nodar Javakhishvili and the director of United Water Supply Company, Nikoloz Kizikurashvili met the representatives of Asian Development Bank. Two sides discussed ongoing and planned projects funded by the Asian Development Bank. The United Water Supply Company realizes the Urban Services Improvement Investment program with support of ADB. The total cost of the program is $ 500 million. This amount will be spent for construction and rehabilitation of the drinking water and sewerage systems in 7 cities and towns of Georgia. It is planned to purchase a variety of equipment, including the special equipment and laboratory equipment with the support of the Asian Development Bank.
The guests positively assessed the activities undertaken by the Georgian side and expressed the desire of future cooperation. The Asian Development Bank is an important partner of the Ministry and many important projects are being implemented with its support, in different directions. (MRDI.ge)
"Narmania`s inability is fatal, he has to become a mayor at least now" - Aleko Elisashvili
"Narmania`s inability is fatal, he has to become a mayor at least now,” declared independent council MP, Alexander Elisashvili, in the talk show "The Choice".
Elisashvili said that the City Hall has studied the Vere ravine before the disaster of June 13, when flooding occurred on June 5 at the same place in a relatively small size.
"What has been done to prevent the flooding? People have been calling for one hour asking for help but no attention was paid. It is the City Hall"s responsibility that people died there, "- says Elisashvili. (Rustavi2)
Defense Ministry officials are leaving the Ministry
Two senior officials have left the Ministry of Defence today. Deputy Chief of the General Inspectorate, Valery Zumbadzeand and the deputy chief of military inspection, Robert Grigalashvili have resigned. The resignation was confirmed by the Defense Ministry.
"Recently groundless allegations and slanderous campaign was started against me. In order to safeguard the image of the Defense Ministry, I decided to leave this position. I decided to file a lawsuit against the authors of the defamatory statements in court,” writes Zumbadze. (Rustavi2)