Sarke: newsletter of 24 May 2009

TODAY:

economics

BSEC MEMBERS CONSIDER GEORGIA’S INITIATIVE ON REGION’S SINGLE BRANDING

Georgian Tourism Department informs that organization of Black Sea Economic Cooperation (BSEC) discussed Georgia’s initiative on working out of the region’s single branding at the meeting of working groups on tourism and culture, held on June 15-16 in Turkey. Namely, Georgian side offered to create marketing agency of Black Sea tourism, which would implement region’s single branding and offer single tourist product on the world tourist market.

THE GOVERNMENT REQUESTS TO DELAY PLANNING OF MANDATORY BUDGET SURPLUS UNTIL 2013

Georgian government worked out draft amendments to the law “On Georgian Budgetary System”, according to which planning of mandatory budget surplus (without taking into consideration the repatriation of money of Future Generations and Stable Development Funds) should be delayed until the year 2013. Besides, demand on transferring to the Stable Development Fund of not less than 26% and not over 33% of budget surplus should be delayed until 2013 as well.

NBG MAINTAINED MONETARY POLICY RATE ON 6%

Monetary Policy Committee of National Bank of Georgia (NBG) has decided today to maintain monetary policy rate. Correspondingly, monetary policy rate remained at 6%.

22 SCHOOLS TO BE BUILT IN GEORGIA DURING 2009-2011

Georgian Education and Science Ministry informs that 22 new schools will be built in Georgia according with modern standards during 2009-2011. As the Ministry told Sarke, 20 million lari will be spent with these aims from regional projects implementation fund.

business

CHANGES MADE IN AMCHAM BOARD

American Chamber of Commerce (AmCham) reports that General Assembly has elected board members today. New members have been elected due to expired terms of the office of former members.

PHARMACEUTICAL COMPANY AVERSI PLANS TO START INSURANCE ACTIVITY

Financial Supervision Agency told Sarke that pharmaceutical company Aversi submitted an application on June 19 on starting of the insurance activity. The company refrains from any comments until getting the answer from the Agency.

NUMBER OF UNITED TELECOM CLIENTS INCREASED BY 1,800 AFTER REDUCTION OF THE SWITCH CHARGE

United Telecom reports that 1,000 new clients switched to the wireless telephone net (CDMA standard) in Tbilisi from the beginning of the month. More 800 clients were switched to the net in Kakheti, Kvemo Kartli and Samegrelo regions.

LLC AGARA SUGAR MANAGEMENT FINISHED RE-EQUIPMENT PROCESS

Zaza Kobulashvili, financial director of LLC Agara Sugar Management (Agara Sugar brand), told Sarke that the company finished re-equipment process yesterday. Re-equipment, started in the beginning of March, cost the company nearly $1.5 million.

56.5% OF JSC TBILLITONNATSARMI SHARES IS AUCTIONED AGAIN

Georgian Economic Development Ministry brought state-owned stake of 56.5% of JSC Tbillitonnatsarmi (Tbilisi Metalware) to the auction afresh. Starting price makes up $550,000 now instead of $600,000 on previous auction, which should have been held on April 2, but failed because of applications absence.

UNFINISHED BUILDING OF PRINT SHOP IN MTSKHETA IS SOLD FOR $510,000

Georgian Economic Development Ministry brought to auction an unfinished building of print shop, located in Mtskheta (Gvinjilia Str. 5).

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Sarke