Today news:

economics

MODERNIZATION OF METRO CARRIAGES PROCEEDS

As Tbilisi City Hall informs, 52 carriages of municipal LLC Tbilisi Metro were already renewed in the framework of modernization project. The number makes up 50% of rolling stock of Varketili-Akhmeteli line.

business

ENERGY INVEST FAILED IN A SUIT

Georgian Energy and Water Supply Regulation Commission announced that it has gained a suit against JSC EnergyInvest.

As the Commission reports, these days Kutaisi City Court considered the administrative suit of JSC Energy Invest, which demanded cancellation of the decision made by the Commission in September.

HEIDELBERG CEMENT GEORGIA DELAYED LAUNCHING OF FILTERING SYSTEMS IN RUSTAVI AND KASPI PLANTS

Heidelberg Cement Georgia informed about delay in launching of filter systems in Rustavi and Kaspi plants probably until January. The company explains the delay with August events, but refrains from specifying.

TBC BANK FINISHED Q3 WITH 3.1M LARI NET PROFIT

TBC Bank announced net profit of 3.1 million lari in the 3rd quarter of 2008. This showing made up 16.9 million lari in the same period of 2007.

IRAO OFFERS PROPERTY INSURANCE TO PRIVATE CLIENTS AS WELL

International insurance company Irao started property insurance offering to its private clients as well. Until now, Irao had offered property insurance for corporate clients only.

LICENSES ARE WITHDRAWN FROM TWO BROKERAGE COMPANIES

As Georgian Financial Supervision Agency told Sarke, two brokerage companies (LLC Bona and LLC Georgian Investment Group (GIG)) are withdrawn licenses at the basis of their own applications.

As LLC Bona told Sarke, reorganization of the LLC is being held at this stage and the company plans to start other business.

NEXT AUCTION IS ANNOUNCED ON FORESTRY LICENSES

Georgian Economic Development Ministry announced next auction on issuing long-term forestry licenses (timber processing). Total starting price of licenses, brought to the auction, amounts to 30.06 million lari.

TBILISI FREE UNIVERSITY ACQUIRED LAND PLOT FOR 16.2M LARI

Tbilisi Free University had acquired at auction, held in Tbilisi City Hall yesterday, territory of 62 ha in Digomi district for its campus for 16.2 million lari.

As representative of the university Elene Imnadze said, university is going to expand, so number of its students will increase from current 600 to 3,000.

AUCTIONS ON REALTY IN BATUMI FAILED

Ajara Finance and Economy Ministry informs that auctions on realty objects, located in Batumi, which had to be held yesterday, failed because of applications absence.

The matter concerns the building of former corrosion lab (Dumbadze Str.).

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