TODAY:

economics

ITALY JOINED THE TOP TEN TRADE PARTNERS OF GEORGIA IN 2008

Georgian Statistics Department reports that Italy joined the list of 10 largest trade partners of Georgia in 2008. That country had replaced Turkmenistan on the 10th position.

TOP TEN ARTICLES ACCOUNT FOR 69.5% OF TOTAL GEORGIAN EXPORT

Georgian Statistics Department reports that the top ten articles in Georgian export account for $1.04 billion, i.e. 69.5% of total volume of the country’s export in 2008. In its turn, total export made up $1.5 billion in 2008, exceeding previous year’s same figures by 25%.

TOP TEN ARTICLES ACCOUNT FOR 36.7% OF TOTAL GEORGIAN IMPORT

Georgian Statistics Department reports that the top ten articles in import accounted for $2.2 billion in 2008, i.e. 36.7% of total volume of the country’s export in 2008. In its turn, total import made up $6.05 billion (16.1% growth compared with 2007).

LOCAL EXPERTS WELCOME ACTIVATION OF NABUCCO PROJECT

Georgian experts welcome activation of Nabucco project (construction of gas pipeline from Caspian gas fields to Europe bypassing Russia) at the background of gas conflict between Ukraine and Russia.

As it is known, Nabucco summit was opened today in Budapest, where the issues of gas pipeline construction will be discussed.

VOLUME OF OVERDUE LOANS INCREASED 2.1 TIMES DURING 2008

National Bank of Georgia (NBG) reports that volume of overdue banking loans amounted to 159.25 million lari in 2008. This rate exceeds previous years same figures 2.1 times.

NUMBER OF MICRO-FINANCIAL ORGANIZATIONS INCREASED BY 12 IN 2008

Georgian Financial Supervision Agency reports that 27 micro-financial organizations were registered in Georgia by the end of 2008. While in January 2007, the number made up 15 only.

business

INFORMATION ABOUT POSITIVE CREDITS OF $100,000 IS ACCUMULATED IN CREDITINFO GEORGIA

Head of JSC CreditInfo Georgia Alexander Gomiashvili told Sarke that database of this credit bureau fixes positive credits up to $100,000 still. Issue of upper limit increase depends on the decision of the JSC’s supervisory board, he noted.

BLITZ-SURVEY: INSURANCE AND MOBILE COMMUNICATION SERVICE FOR GEORGIAN BANKS

The next blitz-survey of Sarke was connected with insurance and mobile communication service for the Georgian banks.

16 banks out of 20 were interviewed: Sakartvelos Banki (Bank of Georgia), TBC Bank, Republic, ProCredit Bank, BTA Bank, VTB Bank Georgia, Sakhalkho Banki (People’s Bank), Basisbank, Investbank, Constanta, KOR Standard Bank, TaoPrivateBank, Cartu, HSBC Georgia, First British Bank and Halyk Bank Georgia.

CHANGES ARE PLANNED IN SUPERVISORY BOARD OF VTB BANK GEORGIA

VTB Bank Georgia reports that changes are planned in bank’s supervisory board. This issue should be discussed at the special meeting of shareholders, which is scheduled for February 16.

25,000 CLIENTS USE WISSOL DISCOUNT CARD

JSC Wissol Petroleum Georgia (oil-products importer and retail seller) announces that currently 25,000 clients use company’s discount card. From the day of the card launching, their savings total to 2.8 million lari.

REGULATION COMMISSION ISSUED PRODUCTION LICENSE TO LLC ORTACHALHES-2007

Georgian Energy Regulation Commission decided today to issue electric energy production license to LLC OrtachalHES-2007 (Ortachala hydroelectric station). Accordingly, the license issued previously to LLC OrtachalEnergy (the former leaser of the HES), was cancelled.

LLC MOVAT GEORGIA TO BUY OUT SHARES FROM MINORITY OWNERS OF JSC DEPARTMENT STORE TBILISI UNTIL THE END OF 2009

As it became known to Sarke, the main shareholder of JSC Department Store Tbilisi – LLC Movat Georgia plans to acquire the minority pack by the end of the year. The matter concerns 0.3% of shares, which is owned by about 60 persons.

society

8M LARI IS ACCUMULATED IN TBC FUND

According to the latest data of TBC Fund, sums mobilized in the Fund reached 8 million lari. The Fund, which was established by TBC Bank on August 13, 2008, assists to population, expelled from Abkhazia and Tskhinvali region because of Russian invasion.

For further information:

Sarke