Sarke: newsletter of 11 June 2009

TODAY:

economics

TIMBER ACCOUNTED FOR 41.7% OF EXPORT TO IRAN IN 2008

Georgian Statistics Department reports that Georgian export to Iran amounted to $10.1 million in 2008, exceeding by 66.2% figure of year 2007. At that, timber accounted for 41.7% of total export – $4.2 million (44.3% growth).

BUDGET OF LABOR, HEALTH AND SOCIAL PROTECTION MINISTRY TO BE INCREASED BY 35M LARI

Labor, Health and Social Protection Ministry informs that in terms of budgetary amendments funding of healthcare and social sectors will be increased by 35 million lari. Over a half of this sum will be allotted for state pensions – 18.3 million lari.

TENDER ON UNDERGROUND GAS STORAGE’S DESIGN TO BE ANNOUNCED BY EARLY JULY

Tender on design preparation of underground gas storage will be announced, presumably, by early July, Millennium Challenge Georgia fund (MCG) told Sarke. Contractor company will be revealed by September.

INVENTORY OF PROSPECTIVE LICENSED FOREST AREAS TO VERGE TO A CLOSE

Georgian Forestry Department told Sarke that inventory of licensed forest areas, which started in April current year, will be finished in mid June. The matter concerns 10 prospective forest areas in Kakheti, Shida Kartli, Mtskheta-Mtianeti, Samtskhe-Javakheti and Samegrelo – Zemo Svaneti regions.

business

ENERGOPRO-GEORGIA TO FINISH POWER NET’S REHABILITATION IN KVEMO KARTLI SOON

EnergoPro-Georgia announced that rehabilitation of power net in Kvemo Kartli region will be finished in the nearest future. However, the company did specify nor a certain date, neither the sum spent for works.

OPIC TO ALLOT $5M TO BASISBANK

Basisbank reported that it expects $5 million from OPIC (the US Overseas Private Investments Corporation) presumably by late July. The sum will be spent on small and middle-sized businesses’ funding in Georgia.

BASISBANK ATTRACTED 4M LARI THROUGH ITS NEW DEPOSIT

According to Basisbank, its deposit portfolio made up 60 million lari as of May 31. Compared with the start of year, portfolio has been increased by 9 million lari.

UGT TO PROVIDE FULL SERVICE TO HALYK BANK GEORGIA’S ATMS UNTIL THE END OF THE YEAR

IT company UGT announced that it will provide full service (hardware and software) to Halyk Bank Georgia’s ATMs. The corresponding agreement was signed on June 9. The agreement envisages provision of consultancy services, aiming certification of Halyk Bank Georgia for smart cards of international payment systems (Visa, MasterCard).

GEOCELL REDUCED TARIFFS ON ROAMING

Mobile communications operator Geocell announced about reduction of roaming tariffs. Discount is valid in networks of TeliaSonera group’s member operators (18 countries).

ANDZA-94 HAD PROFIT OF 29,000 LARI IN 2008

According to JSC Andza-94 annual report, the company finished 2008 year with profit of 29,000 lari, which is 3.6 times increased if compared with 2007. In 2008, income from realization made up 728,000 lari, declining by 67.3% less if compared with 2007.

SEIZED PROPERTY OF JSC TBILISI FAILED TO BE SOLD

Tbilisi Regional Center of Georgian Finance Ministry’s Revenue Service (Tax Inspection) told Sarke that seized property of construction company Tbilisi was not sold again at yesterday’s auction. The starting price was maintained at 3.2 million lari.

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