TODAY:

economics

BY THE STATE OF FEBRUARY, ANNUAL INFLATION MADE UP 2.1%

Georgian Statistics Department reports that by the state of February 2009, annual inflation rate (change of consumer prices index compared with the same month of previous year) made up 2.1%. It should be mentioned that such low rate was not fixed since April 2003.

business

MOODY’S CONFIRMED FINANCIAL STRENGTH RATINGS OF TWO GEORGIAN BANKS, BUT DOWNGRADED CURRENCY RATINGS

Company Galt&Taggart Securities reports that the international rating agency Moody’s has confirmed financial strength ratings (BFSR) of Sakartvelos Banki (Bank of Georgia) and TBC Bank at “D-” level. At the same time, the agency downgraded currency ratings for both banks.

SAKARTVELOS BANKI AND TBC BANK OFFER THREE TYPES OF CREDIT CARDS

Leaders of local banking system, Sakartvelos Banki (Bank of Georgia) and TBC Bank, offer per three types of credit cards. Namely, Sakartvelos Banki issues Orange Card, Magti Card and Populi Credit.

BANK REPUBLIC OFFERS FREE CARD TO THE OWNER OF MEGOBARI DEPOSIT

Bank Republic offers its clients a new deposit – Megobari (Friend), the owner of which will also be passed a card free of charge. Annual interest yield of the deposit in lari makes up 10% (while in euro and US dollar – 8%), at that interest is accrued in the end of each month, the bank said today.

VTB BANK GEORGIA HOLDS A DEPOSIT ACTION FOR WOMEN

VTB Bank Georgia announced about holding of deposit promo action for women from March 8 to April 8. As the bank told Sarke, it is the first such kind of action for the bank and it is not excluded that the action will be prolonged in case of the interest.

BLITZ-SURVEY: WHAT PERFUMES ARE PREFERRED DURING THE SPRING HOLIDAYS

The following blitz-survey held by Sarke was caused by the first spring holidays of March 3 and March 8. Sarke found out that there was great demand on perfumes of about 100 lari, while some distributors had offered discounts.

LITIGATION BETWEEN JSC UNITED TELECOM AND LLC CAUCASUS DIGITAL NETWORK LASTS

Georgian Communications Commission reports that it did not satisfy the demand of LLC Caucasus Digital Network, which demanded form JSC United Telecom to cancel restrictions on admission of the LLC’s technical personnel to the equipment of the JSC. Meantime, litigation between these two operators lasts in Tbilisi City Court.

IMEDI-L TO INSURE URGENT MEDICAL AID IN AJARA

Ajara Health and Social Welfare Ministry announced that insurance company Imedi-L will provide insurance in terms of additional medical component for socially unprotected population – urgent medical aid. The company was selected at the basis of the tender.

TENDER ON MEDICAL INSURANCE OF LLC GEORGIAN RAILWAY STAFF TO BE HELD ON MARCH 27

LLC Georgian Railway informs that applications on the tender on medical insurance for the LLC’s staff will be received until March 27. Tender will be held the same day in the LLC.

COMPANY IOLI DELAYED OPENING OF RESTAURANT AND FAST FOOD OUTLETS FOR AN UNCERTAIN PERIOD

Ilia Kantaria, director general of company Ioli, told Sarke that opening of a restaurant in Tbilisi (on Meidan) and fast food outlets is delayed. This business may turn out non-profitable for the company, said Kantaria.

LLC POULTRY GEORGIA MAY DELAY PRODUCTION OF NON-FROZEN CHICKEN

As LLC Poultry Georgia told Sarke, the company may not resume production of non-frozen chicken meat by Easter. Kakha Megrelishvili, head of LLC’s marketing service, named the technical issues as the reason.

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Sarke