Today news:

economics

FREIGHT TURNOVER OF POTI SEA PORT SURPASSED OCTOBER TARGET BY 15%

As Poti Sea Port Corporation reports, the port exceeded freight turnover October target of 660,000 t by 15% and processed 763,300 t.

During 9 months, the port failed to meet target figures only after Russian aggression in August, the Corporation notes.

AGREEMENT SIGNED WITH WB ON ADDITIONAL FUNDING FOR EAST-WEST HIGHWAY’S UPGRADE

As World Bank (WB) representation in Georgia informs, acting representative of WB Tamar Sulukhia and Georgian Finance Minister Nika Gilauri signed an agreement on financing of East-West highway’s upgrade program.

WB executive directors’ board approved credit line of $20 million on September 30, 2008.

DURING A YEAR, MICRO-FINANCIAL ORGANIZATIONS INCREASED CREDITING VOLUME 4.1 TIMES

As National Bank of Georgia (NBG) reports, total volume of credits, issued by Georgian micro-financial organizations, made up 92.5 million lari by the state of September 30, 2008. This figure is increased by 62.7% from the beginning of the year, and is 4.1 times more compared with the same period of 2007.

business

LUXEMBURG CARGO AIR COMPANY TO START REGULAR FLIGHTS TO GEORGIA

As United Georgian Transport Administration reports, Luxemburg cargo air carrier Cargolux applied for regular flights permission. The company plans to start Luxemburg-Tbilisi-Baku cargo flights from the end of December 2008.

AUCTION ON BORJOMI BOTTLING LICENSE TO BE ANNOUNCED NEXT YEAR

The government works on conditions of auction on Borjomi mineral water bottling license, told Sarke Levan Bagdavadze, vice-president of Georgian Glass and Mineral Waters Co. N.V. (GG&MW).

VOLUME OF CREDITS, ISSUED BY KARTULI KREDITI, INCREASED BY 6.5% IN Q3

According to Kartuli Krediti (Georgian Credit), volume of credits, issued by this micro-financial organization, amounted to 1.08 million lari by the state of September 30, 2008 (1.2% of total credits issued by Georgian micro-financial organizations). This rate exceeds the 2nd quarter’s figures of the company by 6.5%.

LLC ELIT PRO MADE 2M LARI INVESTMENTS IN 2007

LLC Elit Pro made 2 million lari investments in 2007, Giorgi Chumashvili, head of marketing department of this chain of children’s shops, told Sarke. The funds were mainly spent for the shops’ improvement, he said.

TRADE ON FOUR COMPANIES’ SHARES IS SUSPENDED ON GEORGIAN STOCK EXCHANGE

As Georgian Stock Exchange reports, admission to the trading system was suspended for 4 companies’ shares. The restriction concerns JSC Lino, JSC Rea-Cartu, JSC Karavani and JSC Georgian International Transport.

LAND PLOT IN POTI IS AUCTIONED

Georgian Economic Development Ministry announced auction on land plot, located in Poti (Samegrelo Str. 8).

LAND PLOT WITH BUILDING IS SOLD IN KOBULETI

Ajara Finance and Economy Ministry announced auction on land plot with building located in Kobuleti (Rustaveli Str. 137).

society

RETRAINING AND EMPLOYMENT PROGRAM FOR SUFFERED DURING AUGUST EVENTS STARTS

From November 17, 2008, Georgian Business Development Center Caucasia starts retraining and employment program for refugees, who suffered after August events. The program is funded by OSCE, which issued 15,000 EUR.

LAST WEEK REVIEW

privatization & investment

FOR THEY DO NOT KNOW WHAT THEY ARE DOING

It is known that power enterprises being natural monopolies are under constant rapt attention of the state that cares about its power security.

Georgian power system had not been fit to operate independently and for the past ten years of political independence the problem of natural gas and power supply has not been solved.

politics & society

THE WAR

The whole territory of Georgia, far beyond Tskhinvali region, is targeted by Russian aviation for bombardments. Vaziani near Tbilisi, Black Sea port of Poti, Senaki in Samegrelo region, Gori and others cities of Georgia are bombed.

Sarke