TODAY:

politics

ECONOMIC DEVELOPMENT MINISTER TO TAKE PART IN TRANSPORT CONFERENCE IN ALMATY

According to the Georgian Economic Development Ministry, Minister Lasha Zhvania will take part in the 5th Eurasian transport conference in Almaty (Kazakhstan). He will report to the ministerial, scheduled within the conference, on June 11.

economics

GEORGIA’S TRADE WITH EGYPT IN 2008 DROPPED

In 2008, Georgian export in Egypt has made up $23,400, i.e. by 99.2% less than in 2007, Georgian Statistics Department says. 92.3% of the export accounted for clothes (suits and jackets), making up $21,600 (export of the mentioned group was not implemented in 2007).

ANNUAL INFLATION MADE UP 2.2% IN MAY

According to Georgian Statistics Department, annual inflation (consumer price index percentage change compared with the same month of previous year) made up 2.2% in May. The Department notes that similar rate was fixed in September 2001.

STATE BUDGET EXPENSES INCREASE BY 312M LARI, INCOMES REDUCE BY 372.6M LARI

According to draft budgetary amendments, prepared by the government, expenses of the budget will increase by 312 million lari. Major part of this sum accounts for additional financing of infrastructural projects (294.2 million lari).

THE GOVERNMENT INTENDS TO SET PREFERENCES ON SERVICE EXPORT AND LEASING

According to the Finance Ministry, fiscal stimulation pack, worked out by the government together with National bank of Georgia (NBG), includes amendments in customs and tax regulations, concerning service export (VAT offset) and leasing. Finance Minister Kakha Baindurashvili has presented the draft of the mentioned pack to representatives of American Chamber of Commerce in Georgia (AmCham) and of EU-Georgian Business-Council.

MINING LICENSES OF 759,053 LARI WERE SOLD

Georgian Economic Development Ministry sold 14 mining licenses out of 19 ones, brought at today’s auction (no applications were made on 5 licenses). Total revenue made up 759,053 lari.

business

PIONEER CEMENT INDUSTRIES TO INVEST $150M DURING 2-3 YEARS IN GEORGIA

Nino Baratashvili, head of National Investment Agency, announced today that Pioneer Cement Industries is going to build cement plant on the site of 100 ha in Marneuli district (Kvemo Kartli region). For that aim, this company (joint venture of Arab RAK Investment Authority and Indian Penna Cement Industries) plans to invest $150 million during 2-3 years, she said.

SAKARTVELOS BANKI FINISHED SWAP TRANSACTIONS WITH IFC

Sakartvelos Banki (Bank of Georgia) reports that it finished swap transactions with International Finance Corporation (IFC) several days ago, volume of which made up $197 million. As the bank says, thus it hedged its exposure to US dollar floating interest rates for the majority of its long-term international borrowings.

GEORGIAN AIRWAYS STARTED FLIGHTS TO ALMATY

Air company Georgian Airways (former AirZena) informs that it has started flights to Almaty (Kazakhstan) on June 7. Currently, flights will be implemented once a week (on Sundays), while the frequency should be doubled within a month.

AIR WISSOL DELAYED OPENING OF OIL MINI-TERMINAL IN BATUMI BY TWO WEEKS

As director of LLC Air Wissol Avtandil Rodonaia told Sarke, the company will open oil mini-terminal in Batumi in 2 weeks. He explained delay in opening with technical issues.

TEGETA LOGISTICS IS GOING TO HOLD 5% OF THE MARKET

David Nebieridze, director of carrier company Tegeta Logistics, has told Sarke that the company plans to increase its market share up to 5% by the end of the year. The company, established 3 months ago, is daughter structure of Tegeta Motors (car dealer).

BLITZ-SURVEY: SALES DECREASED TO E-SHOPS

Economic crisis has been felt in e-shops as well. Companies, surveyed by Sarke, spoke about considerable reduction of sales.

RECONSTRUCTION OF 2 PUBLIC GARDENS TO START IN TBILISI

Tbilisi City Hall announced tender on design preparation for reconstitution of public gardens in Tbilisi. Tender, divided in 2 lots, will take place in the City Hall on June 26.

14 COMPANIES APPLIED FOR WATER PIPELINE REHABILITATION IN AMBROLAURI

Gamgeoba (local administration) of Ambrolauri has told Sarke that 14 companies expressed interest for water pipeline rehabilitation in a number of villages of this district of Racha-Lechkhumi region. Tender, divided in 12 lots, took place on June 5.

AUCTION ON JSC PEIKARI’S PROPERTY FAILED AGAIN

Bankruptcy manager of JSC Peikari (Weaver) has informed Sarke that auction, announced on the JSC property, failed again because of lack of applications. Starting price made up 935,000 lari.

For further information:

Sarke