TODAY:

economics

INTEREST RATES ON MORTGAGE LOANS EXCEEDED 17% ON AVERAGE

National Bank of Georgia (NBG) reports that interest rates on mortgage loans, issued in national currency, made up 17% in 2008, instead of 15-16% in 2007. Namely, if rate was envisaged by 16.5% in August last year, then it made up 17.2% in September (i.e. after the August war) and then made up 17.5% in December (instead if 16.8% in December 2007).

TBILISI SAKREBULO TO DISCUSS REDUCTION OF THE NORMATIVE PRICES ON LANDS

Meeting of Tbilisi Sakrebulo (City Council), scheduled for February 6, should discuss reduced rates of normative price on the land. It is planned to reduce price by 20%.

business

SAKARTVELOS BANKI INCREASED TARIFFS ON CREDIT CARDS’ SERVICE

Sakartvelos Banki (Bank of Georgia) announced that tariffs are changed from today on service of bank’s credit cards. Commission charges for money withdraw from credit Orange Card increases in Sakartvelos Banki service-centers from 1.5% to 4.5%.

CLEANING CENTER UNITES 12 BANKS NOW

United cleaning center told Sarke that it unites 12 local banks now. The center, started operation in the end of 2008, aims simplification of public utilities payment for the population.

JSC TELASI TO CLOSE ACCOUNTS IN SAKHALKHO BANKI

JSC TELASI reports that the company will close accounts in Sakhalkho Banki (People’s Bank). The company says that the reason is delay with reflection of paid fees for consumed electricity on the accounts.

TERMS OF JOINT PROJECT OF GEOCELL AND IRAO TO BE REVISED

Joint project of mobile communications operator Geocell and insurance company Irao will be suspended from February 12. As Geocell announced, suspension is caused by Irao’s intention to revise terms of the project.

MCDONALDS RESTAURANT TO BE OPENED IN KUTAISI

Restaurant of McDonalds chain will be opened in Kutaisi until the end of the current year. It is planned to open 10 restaurants during the next years.

STRUCTURAL REORGANIZATION STARTED IN TBILISIS TSKALI

As LLC Tbilisis Tskali (Tbilisi Water, water supply and sewerage company) announces that the company started structural reorganization. The staff was inflated and, therefore, employees with low qualification were discharged after testing, the company said.

DEVELOPMENT COMPANY TEXX GROUP WILL CONTINUE 2 PROJECTS ONLY THIS YEAR

Development company Texx Group told Sarke that because of the financial crisis, the company will direct all its financial resources on finishing of two projects. The matter concerns Isani Texx and Shanghai Texx projects.

DEVELOPERS TO BE PERMITTED TO BRING THE HOUSES UNDER CONSTRUCTION INTO THE GRADUAL EXPLOITATION

Tbilisi Vice-Mayor Mamuka Akhvlediani announced that developers may be permitted to bring the houses under construction into the gradual exploitation. For example, it will be possible to bring into exploitation already finished first and second entrances of the multi-entrance house, which is not completed in whole.

TBILISI CITY HALL SOLD LAND PLOTS

Tbilisi City Hall held the auction these days, where non-agricultural land plots were sold in 11 lots. Out of which, land plot on Aleksidze Street (2,300 square m) was sold at the highest price.

society

EMPLOYERS’ ASSOCIATION OF GEORGIA WORKS AT A NEW STRATEGY

Employers’ Association of Georgia together with business group, established within the Association, works at a new strategy, connected with the global crisis. Elguja Meladze, chairman of the Association, told Sarke that the document will be submitted to the Georgian government in a month.

For further information:

Sarke