Today news:

economics

FERROALLOYS REMAIN TOP EXPORT ARTICLE IN JANUARY-SEPTEMBER As Georgian Statistics Department reports, by the state of September 30, 2008, ferroalloys hold the first position again in the Georgian export articles – $258.9 million, i.e. 20.8% of total export. This figure is 2.7 times more compared with January-September of 2007.

APPEALS BOARD OF THE FINANCE MINISTRY SATISFIED 94 COMPLAINTS IN 9 MONTHS

As Georgian Finance Ministry reports, its Appeals Board allowed fully or partially 94 complaints, total sum of which made up 10.2 million lari, during January-September 2008. During the period, 136 claims with the total sum of 84.55 million lari were rejected.

FUEL PRICE ON GEORGIAN MARKET IS EXPECTED TO DROP

Oil-Products Consumers, Producers and Importers Union reports that prices on fuel are expected to reduce further on the Georgian market in near future. According to the chairman of the Union Vano Mtvralashvili, retail price already reduced by 0.30-0.40 lari per liter during the last two months.

UP TO 1,800 CT-1 CERTIFICATES WERE ISSUED IN GEORGIA DURING THREE MONTHS

As Andro Dvali, head of export promotion department of Georgian Economic Development Ministry told Sarke, up to 1,800 CT-1 certificates were issued all over Georgia during three months (from August 1 through October 25).

According to Georgian Chamber of Commerce and Industry, 5,500 CT-1 certificates were issued countrywide during 2007 (i.e. nearly 1,400 per quarter).

PASSENGERS TRAFFIC IN TBILISI INTERNATIONAL AIRPORT INCREASED BY 14.7% IN A YEAR

As United Georgian Administration reports, 526,977 passengers of regular flights were transferred through Tbilisi International Airport in January-September 2008. This rate exceeds previous year’s same period by 14.7%.

GEORGIAN BANKING SECTOR FINISHED SEPTEMBER WITH LOSSES

As National Bank of Georgia (NBG) informs, by the state of September 30, 2008, total losses of commercial banks made up 37.34 million lari.

It should be mentioned that by the state of August 30, 2008, Georgian banks fixed net profit of 67.5 million lari.

business

THREE GEORGIAN AND FOURTEEN FOREIGN AIR COMPANIES GOT AIR COMMUNICATION PERMISSIONS FOR THE WINTER PERIOD

According to United Transport Administration, 3 Georgian and 14 foreign air companies got flight permissions for the winter period (November-April).

As the Administration told Sarke, 17 companies implement flights at this stage, out of which Lithuanian Fly-LAL and Georgian Tbilaviamsheni and Sakaviaservice did not submit an application.

BASISBANK FINISHED Q3 WITH 1.5M LARI PROFIT

JSC Basisbank informs that by the state of September 30, 2008, its profit made up 1.5 million lari, or by 42.3% less compared with the same period of 2007.

Total assets of the bank made up 108.7 million lari, which is more by 5.6% compared with the beginning of the year and is more by 8.4% compared with last year’s same period.

SAKARTVELOS BANKI OPENED THE NEW BRANCH TODAY

JSC Sakartvelos Banki (Bank of Georgia) opened today new branch on Agmashenebeli Avenue in Tbilisi, which became its 149th branch countrywide.

The bank’s director general Irakli Gilauri stressed at the presentation that the new branch has new design, which includes queues’ regulation system.

DOHENY GLOBAL GROUP PLANS TO BUILD HYDROELECTRIC STATIONS IN GEORGIA

Georgian Energy Ministry and US investment company Doheny Global Group signed today an agreement on construction of hydroelectric stations (HES).

According to Energy Minister Alexander Khetaguri, the agreement envisages construction of 4-6 HESes with total capacity of 100 MW.

OPIC BECAME INTERESTED WITH METHANE EXTRACTION PROJECT ON TKIBULI FIELD

According to director general of Energy Corporation Natia Turnava, OPIC (Overseas Private Investment Corporation of the US) considers a co-funding possibility of methane extraction project on Tkibuli field. Turnava could not specify to Sarke at this stage cost of project of possible size of OPIC’s funding.

ONE MINING LICENSE IS AUCTIONED

Georgian Economic Development Ministry auctions a license for carbon dioxide extraction on the mineral water field in Sortuani village (Oni district of Racha-Lechkhumi region). Initial price of 25-year license makes up 500,000 lari.

JSC GUDAURI ANNOUNCES AN AUCTION ON LEASING

JSC Gudauri announced auction on leasing its area in 3 lots. The matter concerns skies rental outlet, shop and hairdressing salon, located in Gudauri hotel (mountainous resort of the same name).

LAND PLOT ON KAKHETI HIGHWAY IS AUCTIONED AT A REDUCED PRICE

Georgian Economic Development Ministry announced auction on land plot (371 square m) with ruined building in Tbilisi (Kakheti Highway, 106) for the second time. Starting price of the object makes up $370,000 this time.

LAND PLOT WITH BUILDING IS AUCTIONED IN TBILISI

Georgian Economic Development Ministry announced auction on land plot in Tbilisi (Kurdiani Street) afresh. Starting price is maintained – $270,000.

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