Sarke: newsletter of 2 July 2010

Today:

- politics

* PRIME MINISTER: OUR TASK IS POVERTY REDUCTION AND JOBS CREATION

According to Georgian Prime Minister Nika Gilauri, main task of the government is reduction of poverty and creation of jobs. Gilauri declared about these priorities before voting on amended membership of the government and its program “United Georgia without Poverty” in the Parliament today.

- economics

* NBG SOLD $207M ON CURRENCY AUCTIONS IN Q2

National Bank of Georgia (NBG) reported that it has sold $207 million on currency auctions in the 2nd quarter of 2010. The volume is 66.7% more than 1st quarter result and 4-times more than the same period of 2009.

* CREDITS, ISSUED THROUGH REFINANCING AUCTIONS DURING 6 MONTHS OF 2010, EXCEEDED TOTAL VOLUME OF 2009

National Bank of Georgia (NBG) reports that 1.56 billion lari was issued through refinancing auctions of 7-day credits during 6 months. This volume exceeds by 43% the total showing of 2009.

* EMISSION OF DEPOSIT CERTIFICATES INCREASED 1.4 TIMES IN Q2

According to the National Bank of Georgia (NBG), emission of deposit certificates amounted to 255 million lari at the auctions, held in April-June. The figure exeeds 1.4 times the emission volume of January-March.

* TBILISI CONSUMED 32% OF TOTAL NATURAL GAS IMPORT IN 2009

According to the Georgian Energy and Water Supply Regulating Commission, 1.2 billion cubic m of natural gas was imported to Georgia in 2009 (year-on-year decline – 18.4%). Out of that, 380.6 million cubic m was supplied to Tbilisi (32% of total volume).

* REHABILITATION WORKS ON KVARELI – CHALA RESERVOIR ROAD TO BE COMPLETED BY SEPTEMBER

According to Motor-Road Department, rehabilitation works on 8-km road from Kvareli to recreational complex, being constructed near to Chala Reservoir (Kakheti region), to be completed by September. Rehabilitation were launched 2 weeks ago.

- business

* ENERGY LOSSES OF ENERGOPRO GEORGIA MADE UP 16.2%, TELASI – 17% AND KAKHETI ENERGY DISTRIBUTION – 26.8% IN 2009

According to the Georgian Energy and Water Supply Regulating Commission, energy losses of EnergoPro Georgia (energy distributor, operating in Georgia’s regions) made up 16.2%, TELASI (energy distributor of Tbilisi) – 17% and Kakheti Energy Distribution – 26.8% in 2009. Namely, JSC EnergoPro Georgia purchased 2.5 billion kWh, while sold – 2.1 billions kWh.

* LLC KAZTRANSGAZ-TBILISI TO ADD PONICHALA AND KRTSANISI TO ITS SERVICE

Georgian National Energy and Water Regulating Commission announced that Ponichala and Krtsanisi are added to the service area of LLC KazTransGaz-Tbilisi. The Commission approved yesterday appropriate amendments to the company’s license for natural gas distribution.

* OTC DEALS IN Q2 2010 MADE UP 42M LARI

Georgian Stock Exchange reported that OTC deals on 76 million shares were fixed in the 2nd quarter, making up 42 million lari in cash. These figures 2 and 5 times respectively exceed results of the same period of 2009.

For further information: Sarke.