OPIC TO ALLOT $10M TO “LISI DEVELOPMENT”
(Daily News: November 11, 2011)
Company Lisi Development has announced that $10 million will be received from the US Overseas Private Investments Corporation (OPIC) next week.
As executive director of Lisi Development Kakha Kolelishvili has told Sarke, the mentioned resource will be used for housing component of Lisi Lake development project.
Rezonansi: “TBILISI-GORI HIGHWAY – UNFINISHED PROJECT”
(Economic Press Monitor: November 11, 2011)
Georgian top officials have opened Tbilisi-Gori section of highway already several times, but construction, which was launched in 2006, is not finished in fact yet, the newspaper notes.
The article also mentions that despite of the spent millions, quality of the highway is not satisfactory.
LLC “TBILISI CENTRAL HOSPITAL” IS OFFERED FOR SALE
(Daily News: November 10, 2011)
The Ministry of Economy and Sustainable Development has announced termed auction on whole stake in the state-owned LLC Tbilisi Central Hospital. Starting price is defined by 1.7 million lari.
“GEORGIAN MEDI” ACQUIRED GUDUSHAURI NATIONAL MEDICAL CENTER
(Daily News: November 10, 2011)
LLC Georgian Medi has acquired for 6.67 million lari the state-owned JSC Guduhasuri National Medical Center through the auction today.
The JSC was estimated for 6.6 million lari.
“RICO EXPRESS” TO OPEN NEW BRANCH IN TBILISI
(Daily News: November 10, 2011)
Micro-finance organization Rico Express has declared on opening of new branch in Tbilisi (Peking Str. 5).
As chairman of supervisory board of Rico Express, Lasha Nikolaishvili declared to Sarke, the company acquired recently the building of former branch of HSBC Bank Georgia for $1.2 million lari.
EBRD TO FINANCE PART OF “NOVOTEL” CONSTRUCTION
(Daily News: November 10, 2011)
EBRD declared intention to allot funds in order to finance partially construction of hotel Novotel in Tbilisi. The matter concerns loan of $18 million.
SCHEME OF TBILISI BYPASS RAILWAY PROJECT’S FUNDING IS AMENDED
(Daily News: November 10, 2011)
LLC Georgian Railway has reported that funding scheme for Tbilisi bypass railway project is changed. However, internal resources remain as the main source of funding, the LLC stressed.
IMF REPRESENTATIVE FORECASTS 5% GROWTH OF GEORGIAN ECONOMIC IN THE COMING YEAR
(Daily News: November 9, 2011)
According to Edward Gardner, IMF representative in Georgia, growth of Georgia’s economic will stand at 5% in 2012. For the current year, this rate is forecasted at 6%.
Rezonansi: ““GEORGIAN RAILWAY” “PREFERRED” 10% CREDIT TO 2% ONE”
(Economic Press Monitor: November 9, 2011)
European Bank for Reconstruction and Development (EBRD) refused to allocate 100 million EUR for construction of Tbilisi by-pass railway.
As Tbilisi office of EBRD declared to the newspaper, LLC Georgian Railway, which implement this project, had found an alternative source of funding.
EIGHT COMMERCIAL BANKS HAVE RETAINED EARNINGS
(Daily News: November 8, 2011)
According to commercial banks’ reports (excluding Liberty Bank), published by National Bank of Georgia (NBG), 8 banks had retained earnings as of September 30. Total volume made up 431.7 million lari.
“TELASI” EXPLAINS TODAY’S BLACKOUT ON AGMASHENEBELI AVENUE WITH BREAKDOWN
(Daily News: November 8, 2011)
As JSC TELASI (Tbilisi energy distributor) told Sarke, blackout on Agmashenebeli Avenue is caused by breakdown. Restoring works are being underway, the company noted, not specifying reason and spot of the breakdown, however.
EBRD NOT TO FUND TBILISI BYPASS RAILWAY PROJECT
(Daily News: November 8, 2011)
European Bank for Reconstruction and Development (EBRD) has declared that it will not provide funding for Tbilisi bypass railway project. To remind, the project is being implemented by LLC Georgian Railway.
“MAKNATUNA” GAINED 80% OF THE SUNFLOWER SEEDS’ MARKET
(Daily News: November 7, 2011)
According to Maknatuna, producer of packed sunflower seeds, the company held 80% of the market within 6 months.
The company said that investment in installation of production line amounted to $200,000.
“TBC BANK” AND “SAKARTVELOS BANKI” ACCOUNT FOR MORE THAN HALF OF BAD BORROWERS’ PROPERTY, APPROPRIATED BY BANKING SECTOR
(Daily News: November 7, 2011)
According to National Bank of Georgia (NBG), value of bad borrowers’ property, appropriated by commercial banks as of September 30, exceeded 114.1 million lari. The figure is by 13.3% down year-on-year.
WHOLESALE/RETAIL SHOP OF SEIZED GOODS IS OPENED IN MUKHIANI DISTRICT OF TBILISI
(Daily News: November 4, 2011)
Service Agency of the Finance Ministry has opened today shop for wholesale/retail trade with seized goods in Mukhiani district of Tbilisi. The shop is connected to local warehouse of the Agency.
“AMERICAN MONOLITH” IS GOING TO EXPAND COOLHOUSE BUSINESS
(Daily News: November 4, 2011)
Company American Monolith, which opened recently coolhouse in Poti, is going to expand its another facility, located in Tbilisi.
As operation manager of the company Lasha Arobelidze told Sarke, investment in reconstruction of Tbilisi coolhouse should amount to 6-7 million lari.
“FLYDUBAI” TO INCREASE FREQUENCY OF IT’S GEORGIAN FLIGHTS
(Daily News: November 4, 2011)
Arabian low-budget air carrier FlyDubai will implement its first flight from Tbilisi to Dubai tomorrow. The flights will be performed twice a week (Tuesdays and Saturdays), while cost of return ticket will be $270.
Rezonansi: “FOREGONE RESULTS OF AUCTION?”
(Economic Press Monitor: November 4, 2011)
Auctions, announced by Tbilisi City Hall on booths’ placement in the city, should be held on November 7-16.
However, the newspaper reports that the new booth already appeared in Saburtalo district (near cross of Bulachauri and Iosebidze streets) 2 weeks ago.
Rezonansi: “CAPITULATION PRESENTED AS VICTORY OR THE WAR WON AT WTO’S FRONT”
(Economic Press Monitor: November 4, 2011)
The subtitle of the article says “Both Tbilisi and Moscow regard agreement, reached with Swiss mediation, as their own success”. The matter concerns to the compromise, achieved on negotiation regarding Russia’s accession to the World Trade Organization (WTO).
“GEORGIAN BAKERS” TO EXPAND PRODUCTION ASSORTMENT
(Daily News: November 3, 2011)
Confectionary producer Georgian Bakers plans to broaden production assortment from February of 2012. At this stage, the company is engaged in production of confectionary only, but other directions are expected to add in early 2012 as well, the company told Sarke without specifying the details, however.
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