Sarke: newsletter of 28 January 2009

TODAY:

politics

NBG PASSES TO INFLATION-TARGETING REGIME

National Bank of Georgia (NBG) reports that gradual passing to inflation-targeting regime has been started from the beginning of 2009. NBG was preparing to pass to this regime for several years, notes the bank’s press release.

IFC TO REESTABLISH PERMANENT MISSION IN GEORGIA FROM SPRING

According to the spread information, permanent mission of International Monetary Fund (IMF) would be reopened in Georgia in March 2009. To remind, reorganization of the local office of the Fund was implemented in July last year, following the decision of the Georgian government not to extend cooperation with IMF.

economics

RECEIVING OF APPLICATIONS IN TERMS OF “CHEAP LOAN” PROGRAM TO START FROM MID FEBRUARY

Georgian Economic Development Ministry reports that receiving of applications from the entrepreneurs in terms of the “Cheap Loan” state program will start from mid February. Applications will be received in the service center, specially created in the Ministry.

HAZELNUT’S EXPORT REDUCED BY 40% COMPARED WITH 2007

Nuts Exporters Union reports that hazelnut’s export from Georgia reduced in 2008 by 40% compared with 2007. Reduction of export is connected with the global crisis and followed sharp reduction of crediting from the banks, the Union says.

INCOMES FROM GAMBLING BUSINESS INCREASED

Georgian Finance Ministry reports that 1,290 permissions for the gambling business were issued in 2008, bringing revenue of 21.5 million lari to the budget as dues. This sum exceeds previous year’s same figures by 18%.

business

MAGTI OFFERS 3.5G MOBILE INTERNET COUNTRYWIDE

Mobile communications operator Magti announces that clients can use mobile internet, based on 3.5G technology HSDPA (High-Speed Downlink Packet Access), countrywide.

Zurab Gurgenidze, deputy director general of Magti in communications field, stressed at today’s press conference that this service is first of such kind on the local market.

FIXED TELEPHONE COMMUNICATION COMPANIES DEMAND LOWERING OF INTERCONNECTION TARIFF

JSC United Telecom and LLC Akhali Kselebi demand lowering of the interconnection tariff with mobile operators. They explain the demand by increased cost of network development.

AUCTION IS ANNOUNCED ON 2,000 TELEPHONE NUMBERS IN BATUMI

Georgian Communications Commission announced an auction on license for numeration resource use in Batumi. Namely, 2,000 numbers of 60XXX and 61XXX indices are auctioned.

31 MINING LICENSES ARE AUCTIONED

Georgian Economic Development Ministry brought to auction 31 licenses on minerals extraction.

Applications should be submitted through February 2.

CHANGES ARE PLANNED IN JSC LIBERTY CONSUMER’S SUPERVISORY COUNCIL

JSC Liberty Consumer announces that changes in the membership of company’s supervisory council are planned. The issue should be discussed at the special meeting of shareholders, scheduled for February 17.

JSC POPULI TO USE EBRD CREDIT FOR EXPANDING OF THE CHAIN AND LAUNCHING OF THE NEW ENTERPRISE

JSC Populi plans to expand its supermarket chain and launch the new enterprise through the credit, issued by European Bank for Reconstruction and Development (EBRD).

Until the end of 2009, JSC Populi plans to open 10-15 new shops, expanding the chain, which numbers 40 shops now.

JSC POPULI DELAYED LAUNCHING OF PROCESSING ENTERPRISE BECAUSE OF THE FINANCIAL CRISIS

JSC Populi (supermarket chain) delayed launching of meat, fruit and vegetables processing enterprise until the second half of 2009. The enterprise was planned to be launched in the end of 2008.

IBERIA REAL ESTATE WILL LAUNCH ONLY ONE PROJECT BECAUSE OF THE CRISIS

Development company Iberia Real Estate told Sarke that it will launch only one project in 2009, because of the financial crisis. The matter concerns construction of the living complex at the adjacent territory of Tbilisi University in Saburtalo district.

society

ASSETS OF THE SINGLE NATIONAL MOVEMENT INCREASED 2 TIMES

According to the financial report, published by the ruling party United National Movement, assets of the party made up 2.4 million lari in 2008, which is 2 times more compared with the year 2007.

State financing of the party made up 1.85 million lari, increasing by 16.4% compared with 2007.

For further information:

Sarke