Sarke: newsletter of 29 May 2009

TODAY:

economics

PRICES ON FUEL MAY INCREASE BY 5-10 TETRI

Oil-Products Producers, Importers and Consumers Union does not exclude growth of prices on fuel by 5-10 tetri soon. Chairman of the Union Vano Mtvralashvili says that the reason of it became the world tendency of fuel prices growth.

REHABILITATION OF VARDZIA TRANSMISSION LINE TO BE FINISHED IN 7 MONTHS

LLC Georgian State Electrosystem (dispatching and transmission service) announced a tender on rehabilitation of 500 KV transmission line Vardzia in terms of Black Sea Energy Transmission System Program. Tender applications will be received through July 27 in the LLC.

MERAB KAKULIA: INTERNATIONAL AID MOSTLY IS SPENT REASONABLY

Merab Kakulia, senior expert of Georgian-European Policy and Legal Advice Centre (GEPLAC), suggests that donors’ funds are spent reasonably. Sums, reflected in the budget, are spent reasonably still, Kakulia has told Sarke, underlining that donors have great experience in monitoring of aid’s use.

ACTUAL TOPIC: TOURISM BEHIND CRISIS

Tourism is highly sensitive to financial and political problems all around the world. Maia Margvelashvili, professor of Ivane Javakhishvili Tbilisi State University, assesses the sphere in Georgia.

business

RUSSIAN VTB GROUP ACQUIRED LARGEST SHARE OF VTB BANK GEORGIA ADDITIONAL EMISSION

As VTB Bank Georgia informs, out of additional emission, totaled to 15.75 million shares, Russian VTB Group acquired 13.34 million shares on May 27. However, after the transaction share of VTB in Georgian bank has not been changed (84.69%).

SITES AT THE ADJACENT TERRITORY OF AIRPORT ARE AUCTIONED FOR $1.6M

Georgian Economic Development Ministry brought to auction property, located at the adjacent territory of Tbilisi International Airport. Starting price makes up $1.6 million in total.

JSC KARTULI SHALI MANAGED TO AVOID SELLING THROUGH AUCTION

Tbilisi Regional Center of Georgian Finance Ministry’s Revenue Service (Tax Inspection) has informed Sarke that auction on property of JSC Kartuli Shali (Georgian Wool) was canceled. As the Center explained, the JSC managed to cover debt its tax arrears of 34,134 lari.

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Sarke