BASISBANK FINISHED Q3 WITH LOSS OF 2.38M LARI
(Daily News: October 13, 2009)
Basisbank reported loss of 2.38 million lari for the 3rd quarter, which is almost 4 times increased compared with the 2nd quarter.
As the bank commented to Sarke, increased loss is mainly reasoned by 44%-growth of reserves of possible credit losses.
ECONOMIC DEVELOPMENT MINISTRY WORKS ON NEW ECONOMIC STRATEGY
(Daily News: October 13, 2009)
Economic Development Ministry starts working on new strategy of economic development, which is expected to finish within 6 months, the Minister Zurab Pololikashvili said at the meeting with local businessmen yesterday.
With this aim, a special group will be set in the Ministry, which will be assisted by international experts and professional consultants.
Rezonansi: “NOGAIDELI’S PARTY ACCUSES KAZTRANSGAZ IN POLITICAL PURGES”
(Economic Press Monitor: October 9, 2009)
Movement For Fair Georgia, established by the former Prime Minister Zurab Nogaideli, states that there are facts when citizens are dismissed because of political views.
Tbilisi gas distribution company KazTransGaz-Tbilisi, which belongs to the Kazakh investors, is brought as example.
CHANGES IN COMMISSION ON NBG’S AUDITOR SELECTION
(Daily News: October 9, 2009)
Georgian Parliament has approved changes in commission on auditor selection for National Bank of Georgia (NBG).
Namely, instead MP Nika Laliashvili Guram Chakhvadze has been included in the commission, while from NBG replacement applied to David Amaglobeli, being replaced by Giorgi Kadagidze (NBG president).
INTERNATIONAL TENDER TO BE ANNOUNCED ON MARABDA-TETRITSKARO RAILWAY SECTION CONSTRUCTION
(Daily News: October 9, 2009)
As transport department of Economic Development Ministry informs, LLC Marabda-Kartsakhi is charged to announce international tender on Marabda-Tetritskaro railway section construction. Project documentation has already been approved.
POST OF TOURISM DEPARTMENT CHAIR VACANT
(Daily News: October 8, 2009)
Petre Kankava resigned today from post of head of Tourism and Resorts Department, leaving his post at his own request, Economic Development Ministry reports. New candidacy for the office is not named yet.
ECONOMIC DEVELOPMENT MINISTRY GETS INTO DIRECT CONTACTS WITH FOREIGN BUSINESSMEN
(Daily News: October 7, 2009)
Georgian Economic Development Ministry reported that Deputy Minister Zurab Alavidze has met Danish Foreign Minister and Danish businessmen. The sides discussed business environment in Georgia and economic potential of the country.
BLITZ-SURVEY: WATER SECTOR NEEDS IMPROVEMENT OF LEGISLATION, BASIN MANAGEMENT AND SOLVING PROBLEM OF DOMESTIC WASTE
(Daily News: October 6, 2009)
The next survey held by Sarke is connected with water resources management and rivers pollution problems.
Among the surveyed were: Marina Makarova, head of Georgian Environment Protection and Natural Resources Ministry’s department for water resources management; Zurab Jincharadze, expert in water resources management; representatives of the National Energy and Water Supply Regulating Commission and representatives of Tbilisi water supply and sewerage company Georgian Water & Power.
DESTINY OF “CHEAP CREDIT” STATE PROGRAM TO BE DECIDED NEXT WEEK
(Daily News: October 6, 2009)
Economic Development Minister Zurab Pololikashvili said that details of “Cheap Credit” state program will be disclosed next week. Changes, implemented in the Ministry, made the program to cease, the Minister has told to journalists today.
LLC BEDIA PLANS TO START CHEESE PRODUCTION BY LATE 2009
(Daily News: September 30, 2009)
Zurab Papava, director of LLC Bedia (mayonnaise producer), has told Sarke that the company plans to start cheese production by the end of 2009.
Cheese will be lenten and its initial production will not require additional equipment installation, Papava said.
BASISBANK DOES NOT PLAN TO ATTRACT FUNDS FROM INTERNATIONAL FINANCIAL INSTITUTIONS THIS YEAR
(Daily News: September 28, 2009)
Zurab Tsikhistavi, director general of Basisbank, has told Sarke that this year the bank does not plan to attract funding from international institutions. Similar to last year, present terms on international markets are not attractive, he notes.
24 Saati: “NEW VACANCIES IN BANKS – CORPORATE SECRETARY AND INDEPENDENT MEMBER”
(Economic Press Monitor: September 25, 2009)
Local banks started introduction of voluntary corporate management code. Vacancies on corporate secretary and independent member of the supervisory board, which did not exist on the local market until now, will be announced soon.
24 Saati: “GOING ROUND”
(Economic Press Monitor: September 15, 2009)
Giorgi Kadagidze, president of the National Bank of Georgia (NBG), explains necessity of financial supervision powers returning to NBG with new realities. This way, NBG will be able to answer new challenges more efficiently, he notes.
PREMIER: THE GOVERNMENT PREPARES PACK OF AMENDMENTS INTO ECONOMIC LEGISLATION
(Daily News: September 18, 2009)
According to Georgian Prime-Minister Nika Gilauri, the government prepares pack of amendments into economic legislation in terms “to make process of reforms irreversible in the country”.
Works on the mentioned pack has been undergoing for months and it will be submitted to the Parliament in next few days, the Premier has said at the government meeting today.
ENTERPRISES MANAGEMENT AGENCY HAS NEW HEAD
(Daily News: September 14, 2009)
Economic Development Ministry reported that Avtandil Shermadini has been assigned as head of Enterprises Management Agency these days. He replaced Vano Beradze on the mentioned position.
Rezonansi: “3-TETRI APPLES AND 40-TETRI MANDARINS”
(Economic Press Monitor: September 10, 2009)
Abundant apple harvest – 100,000-120,000 t – is expected this season in Gori district, which suffered during the August war of 2008. However, processing factories purchase poor fruits for 3-5 tetri per 1 kg.
Rezonansi: “AMBASSADORS TO LOOK AFTER ECONOMY NOW”
(Economic Press Monitor: September 9, 2009)
Attraction of investments was the main issue discussed during the meeting of Georgian ambassadors and representatives of the Economic Development Ministry, held in Tbilisi these days. As it turned out, economic attaches will be sent to the Georgian representations abroad – they will be actively engaged in working out and implementation of investment projects.
BASISBANK EXPANDS BRANCH NETWORK
(Daily News: April 20, 2007)
Basisbank announced today about opening of new service-center in Batumi, which will become the second outlet of the bank in Ajara. Basisbank explains the decision to open new service-center by growing number of customers and strategic importance of the region for the bank.
NBG IS GOING TO ANNOUNCE TENDER ON CLEARING-HOUSE CREATION
(Daily News: April 17, 2007)
Until the end of this year, National Bank of Georgia (NBG) is going to announce international tender on clearing-house creation, head of payment systems department of NBG Zurab Grigalashvili told Sarke. The goal is to create powerful and flexible payment system, he noted.
GOVERNMENT DEMANDS IMPOSING OF FINES FOR STEALING OF IRRIGATION WATERS
(Daily News: July 27, 2009)
Fiscal Committee of the Georgian Parliament supported in the first hearing the government initiative on imposing of fines for stealing of irrigation water.
According to amendments, which should be made in Georgian Administrative Infractions Code, fine for stealing of water from irrigation systems or unauthorized consumption of water, delivered for melioration associations, will amount to 250 lari for physical persons and 500 lari – for legal entities.
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