TODAY:

politics

EU LAUNCHES A NEW SUPPORT PROJECT FOR GEORGIAN JUSTICE REFORM

EU representation reports that a new project started today to support justice reform in Georgia. Cost of 30-year project makes up 2.7 million EUR.

economics

ANNUAL INFLATION MADE UP 1.8% IN APRIL

According to the Statistics Department, annual inflation (change of consumer price index compared with the same month of the previous year) made up 1.8% in April. The Department notes that such a low rate has not been fixed since October 2001 (1.7%).

MORTGAGE LOANS IN LARI DECREASED BY 14% IN Q1, WHILE IN FOREIGN CURRENCY – INCREASED BY 1%

National Bank of Georgia (NBG) informs that mortgage loans, issued in national currency, made up 329.43 million lari by the state of March 31, declining by 14% less compared with the beginning of the year. Of which, 84.2% accounted for legal entities, while 15.8% – private individuals.

business

CARTU GROUP MADE CONSOLIDATION OF CARTU BANK SHARES

According to Cartu Bank’s report of the 1st quarter of 2009, by the state of March 31, 2009, JSC Cartu Group is 100% owner of the bank’s shares. To remind, by the state of September 30, 2008 (last official data, published before the mentioned report), bank’s shareholders were LLC InterService, JSC TransInvest, JSC Iagundi and JSC Cartu Group, each owning per 25%.

IFC SIGNED AGREEMENT ON SWAP AND HEDGING WITH THE SECOND GEORGIAN BANK

International Financial Corporation (IFC) and Sakartvelos Banki (Bank of Georgia) signed yesterday agreement of International Swap and Derivatives Association (ISDA). The agreement enables Sakartvelos Banki to hedge interest rate risk during long-term borrowing in the US dollars.

VTB BANK GEORGIA TO JOIN RENEWABLE ENERGY RESOURCES MASTERING PROJECT

VTB Bank Georgia announced today that agreement in terms of program on renewable energy resources development should be signed with the Finance Ministry in mid May. Total budget of the project makes up 5 million EUR, which was allotted by German KfW.

ARSI RESTRUCTURED DEBTS FOR 70% OF CLIENTS

As construction company Arsi has told Sarke, paying period was extended, maximum by 1 year, for 70% of clients (the company has 550 clients now). Besides, those clients, who have already paid at least 80% of the cost, may receive instantly apartment with area of 80 square m (or more – in accordance with paid share of the total sum).

JSC TBILGVINO EXPECTS FOR 5% EXPORT REDUCTION IN 2009

As JSC Tbilgvino (Tbilisi Wine) told Sarke, volume of export is expected to reduce by 5% in 2009. Export accounts for 90% of company’s production.

GEORGIAN RAILWAY ANNOUNCED TENDER ON LAND DEMARCATION AND REGISTRATION SERVICE

LLC Georgian Railway announced a tender on demarcation of its land plots and registration service. Tender will be held on May 27 in the LLC.

OTC WAS HELD ON 10% OF JSC KHIDMSHENI

Georgian Stock Exchange reports that OTC was held yesterday on large pack of JSC Khidmsheni (Bridge Builder). Namely, 131,415 shares (10% of the issued shares) were sold for 2.49 million lari.

For further information:

Sarke