Sarke: newsletter of 05.11.2008

Today news:

economics

PARLIAMENT TO DISCUSS DRAFT BUDGET-2009 FROM MID-NOVEMBER

Discussion of the draft budget-2009 will start in the Parliament from November 15, announced Georgian Finance Minister Nika Gilauri after today’s government meeting.

The Minister said that currently assignment issues are discussed with all the ministries.

IMF MISSION DISCUSSED 18-MONTH PROGRAM AID PROGRAM

As International Monetary Fund (IMF) reports, visit of mission of the Fund to Georgia finished today. During the one-week visit the mission held first consideration of aid program, calculated for 18 months.

GAS SHOULD BE INSTALLED IN SETTLEMENT PLACES OF PEOPLE SUFFERED FROM RUSSIAN AGGRESSION

Georgian Energy Minister Aleko Khetaguri announced today that gas installation will start from November 20 in places, where persons, expelled after Russian aggression, are temporarily settled (Birketi, Kareli, Koda, Khashuri, Saguramo, Surami, Tserovani, etc).

Energy Ministry has already allotted 3.1 million lari for that end from the budget of this year, Khetaguri said after the government meeting.

TOTAL ASSETS OF BANKS INCREASED BY 14.2% IN 9 MONTHS

As National Bank of Georgia (NBG) reports, total assets of Georgian commercial banks made up 8.2 billion lari by the state of October 1, 2008, showing 14.2% increase compared with the beginning of the year.

According to NBG, share of five largest banks in total volume reduced from 80.4% to 76.9% during 9 months of the year.

business

EBRD TO OPEN A CREDIT LINE TO SAKAERONAVIGATSIA As European Bank for Reconstruction and Development (EBRD) reports, the bank opens credit line of $12.5 million to Sakaeronavigatsia (Georgian Air Navigation). The money will be used for equipment upgrade, keeping in mind compliance with the international standards.

PROCREDIT BANK PROMOTES ITS CLIENTS

ProCredit Bank started today implementation of Client’s Corner, the new project aiming support of local entrepreneurs.

Within the mentioned project, ProCredit Bank allows its clients, which are engaged in business, to advertise during 2 weeks their activity on special stands in the bank’s offices.

AUCTION IS ANNOUNCED ON 3.5 GHZ FREQUENCY LICENSE

Georgian Communications Commission announced an auction on 3.5 GHz radio frequency use. Starting price of the license makes up 1.8 million lari.

UNITED TELECOM IS GOING TO INVEST $30M IN 2009

JSC United Telecom of Georgia plans to invest $30 million in development of infrastructure in 2009, told today Sarke company’s commercial director Iva Martiashvili. He stressed that the company will make an accent on development of internet service.

UNITED TELECOM OFFERS EQUAL SPEED FOR LOCAL AND FOREIGN TRAFFIC

JSC United Telecom of Georgia announced today new minimal pack for internet access, monthly cost of which amounts to 15 lari. As Iva Martiashvili, commercial director of the company, said at today’s briefing, clients will get equal speed of 1 Gbps for global and local internet traffic through this minimal pack.

PSP GROUP OPENED THE NEW PHARMA-MARKET IN TBILISI

PSP Group opened on Tsereteli Avenue new pharma-market, which became the fourth in Tbilisi. According to PSP, along with medicine, pharma-markets offer customers articles of personal hygiene and medical cosmetics of famous world brands.

LLC ORBITA IS AUCTIONED AFRESH

Ajara Finance and Economy Ministry announced auction on LLC Orbita for the fifth time. This company, located in Kobuleti, is priced at 2.1 million lari.

FORMER EDITORIAL OFFICE OF AJARA NEWSPAPER IS AUCTIONED FOR THE SIXTH TIME

Ajara Finance and Economy Ministry announced auction on former editorial office of Ajara newspaper for the sixth time. This time, starting price is reduced to 1.5 million lari, instead of 3 million lari on the previous auction (in July).

LAST WEEK REVIEW

privatization & investment

FOR THEY DO NOT KNOW WHAT THEY ARE DOING

It is known that power enterprises being natural monopolies are under constant rapt attention of the state that cares about its power security.

Georgian power system had not been fit to operate independently and for the past ten years of political independence the problem of natural gas and power supply has not been solved.

politics & society

THE WAR

The whole territory of Georgia, far beyond Tskhinvali region, is targeted by Russian aviation for bombardments. Vaziani near Tbilisi, Black Sea port of Poti, Senaki in Samegrelo region, Gori and others cities of Georgia are bombed.

Sarke