TODAY:

economics

NBG STARTED CURRENCY SWAP

National Bank of Georgia (NBG) reports that a new tool of money-and-credit policy is launched from today – currency swap. Through currency swap NBG will issue loans in the national currency and will get foreign currency instead according to the current exchange rate, fixed at currency auctions.

CREAM BUTTER ACCOUNTED FOR ALMOST ONE-THIRD OF IMPORT FROM AUSTRALIA IN 2008

According to Georgian Statistics Department, goods of $2.1 million were imported from Australia in 2008, which is by 90.9% more than in the same period of 2007. The largest share (over 28%) accounted for cream butter and other butterfat, which import made up $594,300 (13 times growth).

GEORGIAN EXPORT TO CANADA INCREASED BY 86.7% IN 2008

Georgian Statistics Department reports that Georgian export to Canada amounted to $131.8 million in 2008, increasing by 86.7% if compared with the same rates of 2007. Gold accounted for the largest share of export to Canada – 75.8%.

business

SURPLUS OF SAKARTVELOS BANKI’S LIQUID ASSETS INCREASED BY 50M LARI FOR 2 MONTHS

As Irakli Gilauri, director general of Sakartvelos Banki (Bank of Georgia), has reported at the press conference today, the bank’s liquid assets make up 600 million lari for today. Of which, surplus accounts for 250 million lari, increasing by 50 million lari compared with the 1st quarter.

GWP ADDED NEW PREFERENCES IN RESTRUCTURING PROGRAM

Georgian Water and Power (GWP, Tbilisi company of water supply and sewerage) has offered new preferences in terms of recent restructuring program from today. Namely, the consumer, who will pay half of arrears, will be written of the rest 50%.

GEOCELL AIMS TO ATTRACT NEW CLIENTS THROUGH A PROMO ACTION

Mobile operator Geocell has launched a new promo action Sun, Sea and Geocell in terms to attract new clients. The action, started on June 1, will be continued through July 27.

HYPERMARKET GOODWILL DELAYED OPENING OF BRANCHES IN TBILISI FOR THE SECOND TIME

Hypermarket Goodwill delayed opening of two branches in Tbilisi for the second time already. As the company told Sarke, the reason of it became dragging on of buildings’ construction, where the branches of Goodwill should be placed.

LLC GANTIADI TO PRODUCE 5 NEW NAMES OF ICE CREAM

Gigi Tavshavadze, LLC Gantiadi president, has informed Sarke that the LLC intends to produce at least 5 new sorts of ice cream in a month (under brand of Kaspi Ice Cream, 3 – in retail packing, 2 – sold by weight). The price is not defined yet.

CONSTRUCTION AND REPAIR WORKS TO START IN BRANCHES OF 3 REGIONAL CENTERS OF FINANCE MINISTRY

Georgian Finance Ministry announced a tender on construction and repair works, which includes 3 lots. Tender will be held on June 23.

society

TRANSPARENCY INTERNATIONAL: THE MOST CORRUPTED BRANCH IN GEORGIA IS THE JUDICIARY SYSTEM

Transparency International – Georgia (TI-Georgia) reports that Georgian citizens estimate the judiciary system as the most corrupted branch in Georgia. From this point of view, Georgia is on the fifth place among the worst European and Central Asian countries.

For further information:

Sarke