TODAY:

economics

WB APPROVED ALLOTMENT OF $85M TO GEORGIA

Executive directors’ board of World Bank (WB) approved today First Development Policy Operation (DPO-1) of $85 million to Georgia. Duration of 20-year credit, allotted by WB group member International Development Association (IDA), is envisaged by 20 years (with 10-year grace period), annual interest rate – 0.75%.

CHEMICAL MEASURES AGAINST FALL WEBWORM ARE HELD ON 4,700 HA IN SAMEGRELO AND GURIA

National Service for Food Safety, Veterinary and Plants Protection informs that area of 4,700 ha has been treated in Samegrelo and Guria regions so far. The chemical treatment has being implemented against fall webworm.

business

TURKISH COMPANY SILA PLANS TO CONSTRUCT HOSPITAL IN GEORGIA

According to Economic Development Ministry, Turkish company SILA plans to invest $200 million in medical sector in Georgia. Turkish delegation told Georgian Minister that modern hospital should serve not only to Georgia, but also to whole Caucasus.

ENERGY MINISTER IS CONTENT WITH TEMPORARY ADMINISTRATION’S ACTIVITY IN KAZTRANSGAZ-TBILISI

Energy Minister Aleksandre Khetaguri says that under temporary administration LLC KazTransGaz-Tbilisi considerably improved network exploitation, reduced losses and mobilized large part of arrears. At the yesterday’s meeting of the Parliament’s committee on branch economic and economic policy, the Minister expressed hope that the mentioned trend will be maintained and the state of Tbilisi gas distributor company will be improved until the end of year.

GEOCELL APPLIED FOR LICENSE EXTENSION

Mobile communications operator Geocell applied yesterday to Communications Commission on extension of the license. Term of GSM-900 and GSM-1800 combined license will be expired on August 3.

OTC DEALS MADE ON 40 ISSUERS’ SHARES IN THE FIRST HALF OF YEAR

According to Georgian Stock Exchange, as of June 30, OTC deals were made on 40 issuers’ shares. Total cost of deals amounted to 44.24 million lari.

SAKARTVELOS BANKI’S SHARES ACCOUNTED FOR 92.4% OF STOCK EXCHANGE TURNOVER IN THE FIRST HALF OF 2009

Georgian Stock Exchange reports that by the state of June 30, 2009, total cost of deals, made in the trading system of the Exchange, totaled to 295,205 lari. Deals were fixed on shares of 5 issuers (145 deals in total): Sakartvelos Banki (Bank of Georgia), Sakhalkho Banki (People’s Bank), Liberty Consumer, Caucasus Energy&Infrastructure and Teliani Veli.

FRUIT AND VEGETABLE PROCESSING ENTERPRISE TO BE STARTED IN KAKHETI

UN Development Program (UNDP) informs on launching fruit and vegetable processing enterprise in Kakheti region, under the base of Kachreti professional development center, scheduled for July 6. Romanian government has allotted grant of $130,000 for the mentioned project.

LLC NARCISSUS DELAYED CHEESE PRODUCTION UNTIL 2010

LLC Narcissus delayed starting of cheese production until 2010. The reason of it the company names repair works, which are held on the territory of cheese workshop (700 square m).

KOR STANDARD BANK STARTS LAX INSTALLMENT ON KIA CARS

KOR Standard Bank announced on a new action, which will start to clients of Iberia Business Group, dealer of KIA Motors, from July 6. Namely, clients, who will buy KIA car, paying 40% of the cost instantly, will be able to use KOR Standard Bank’s installment program without confirmation of incomes.

For further information:

Sarke