TUNNEL CONSTRUCTION WITHIN BAKU-TBILISI-KARS PROJECT TO START IN A FEW WEEKS
(Daily News: July 23, 2012)
In a few weeks, construction of railway tunnel with length of 4 km will be started on Georgia’s territory within Baku-Tbilisi-Kars railway project. As the Georgian Ministry of Regional Development and Infrastructure informed, construction of this tunnel, located on Akhalkalaki-Kartsakhi section will cost $42 million.
Rezonansi: “EQUALIZING TRANSFER – PRE-ELECTION WEAPON OF THE GOVERNMENT”
(Economic Press Monitor: July 20, 2012)
The state budget-2012 defines volume of transfers for autonomies and self-governing administrative units as totaling to 829.98 million lari.
Tbilisi will receive 435 million lari, of which equalizing transfer makes up 418 million.
“SILKNET” TO DEVELOP OWN WIFI NETWORK
(Daily News: July 19, 2012)
SilkNet announced about start of development of WiFi hotspots’ network. The project will enable users to have free Internet in squares, on bus stops and other public places.
Rezonansi: “APARTMENTS IN TBILISI CENTER ARE THREE TIMES EXPENSIVE COMPARING TO SUBURBS”
(Economic Press Monitor: July 19, 2012)
Experts of real estate market estimate that demand on secondary apartments still prevailed in the 2nd quarter. They see the reason of such situation in better guarantee comparing to houses, being in construction process.
Rezonansi: “EXPENDITURES AND DETAILS OF HIGHWAY ARE CLASSIFIED”
(Economic Press Monitor: July 19, 2012)
The newspaper reports that it has failed to receive from Georgian Ministry of Regional Infrastructure and Development the information on amount of money, spent on Tbilisi-Ruisi section of East-West highway.
The Ministry has declared that this data is distributed among various structural units and its collection requires 10-day period.
“GEORGIAN RAILWAY” TO PURCHASE FLAT CARS OF 26.4M LARI
(Daily News: July 18, 2012)
JSC Georgian Railway announced international tender with expected cost of 26.4 million lari. The matter concerns procurement of 200 new flat cars for large-tonnage containers’ transportation.
“GEORGIAN” TO WORK ON AVIATION INFRASTRUCTURE IMPROVEMENT
(Daily News: July 18, 2012)
As Ministry of Economy and Sustainable Development announced, Georgian-American company Georgian will undertake improvement of aviation infrastructure.
The company will build airplanes’ maintenance service-center (garage), training center and VIP terminal on territory of Tbilisi International Airport.
TBILISI TO HOST SPECIAL MEETING OF ECAC
(Daily News: July 18, 2012)
Georgian Civil Aviation Agency informed that Tbilisi will host the 68th special meeting of directors of aviation authorities from European Civil Aviation Conference (ECAC) member countries. The event will take start on August 30 and last until September 3.
Versia: “625 EMPLOYEES OF “ELITA BURJI” ARE LEFT WITHOUT JOBS!”
(Economic Press Monitor: July 18, 2012)
Tbilisi City Court recognized recently as a law-breaker LLC Elita Burji, owned by oppositional billionaire Bidzina Ivanishvili, seized its property and imposed fine of 3.337 million lari. The decision was made due to the violations, revealed by Financial Monitoring Service.
Rezonansi: “BUSTLE IN THE PARLIAMENT”
(Economic Press Monitor: July 18, 2012)
According to the Georgian Constitution, holding of the Parliament’s sessions in Kutaisi will be possible after elections (scheduled for October). However, regulations, amended in May, allow holding of sessions in both Tbilisi and Kutaisi.
“SILKNET” STARTS ANOTHER ACTION FOR NEW CLIENTS
(Daily News: July 17, 2012)
Communication operator SilkNet said that new subscribers of Internet service will be released from fee for 2 months after installation. The action, which applies to Tbilisi, as well as regions, is valid though August 15.
“FLY GEORGIA” IS IN PROCESS OF CERTIFICATION
(Daily News: July 16, 2012)
Civil Aviation Agency announced that new air company, registered in Georgia as Fly Georgia, has already passed the first stage of certification (documents’ consideration). Now, study of technical condition is underway on the spot.
COMPETITION AND STATE PROCUREMENT AGENCY SIGNED CONTRACTS OF 588.4M LARI SINCE 2011
(Daily News: July 16, 2012)
Competition and State Procurement Agency said that cost of contracts, signed with providers for the last 1.5 years, totaled to 588.4 million lari as of June 30.
The most expensive contracts are signed with such companies as LUKOil Georgia – 94.96 million lari, Wissol Petroleum Georgia – 33.9 million lari, Sun Petroleum Georgia (Gulf) – 31.9 million lari, New Construction – 26.7 million lari.
TRADES ON 18 COMPANIES’ SHARES SUSPENDED
(Daily News: July 13, 2012)
Georgian Stock Exchange reported that trades with shares of 18 companies are suspended. The decision was caused by license cancellation for their securities’ registrar.
COMPULSORY MANAGER CHANGED SUPERVISORY BOARD OF BANK “CARTU”
(Daily News: July 13, 2012)
Besides Vladimir Ugulava, compulsory manager of Cartu Group, new supervisory council of the group member bank Cartu will include Irakli Zarkua and Roin Tsatsiashvili.
Ugulava confirmed the mentioned information, noting that statement regarding new executive board and other details will be made on July 16.
Rezonansi: “4-TIME CHANGED TBILISI BUDGET IS CUT OUT ACCORDING TO ELECTION PATTERN”
(Economic Press Monitor: July 13, 2012)
Tbilisi budget of this year was amended 4 times though the last 6 months.
In particular, 144.76 million lari, envisaged initially for economic activity, where added later by 5.3 million lari.
BLUE CHIP INDEX INCREASED BY 12.7% SINCE START OF YEAR
(Daily News: July 12, 2012)
Investment company BG Capital reported that its local blue chip index BGBC made up 500.98 (in lari) as of June 30. Since start of the year, the index increased by 12.7%.
VLADIMIR UGULAVA TO MANAGE SHARES OF “CARTU GROUP” AND “PROGRESS BANK”
(Daily News: July 12, 2012)
National Bureau of Enforcement said that Vladimir Ugulava has been appointed as compulsory manager of 100% of shares of JSC Cartu Group and 21.7% of JSC Progress Bank. Tbilisi City Court has allowed today respective request of the Bureau.
STAKES IN “CARTU GROUP” AND “PROGRESS BANK” PASSED INTO COMPULSORY MANAGEMENT
(Daily News: July 11, 2012)
National Bureau of Enforcement declared that property of Bidzina Ivanishvili (100% in JSC Cartu Group and 21.7% in JSC Progress Bank) is passed into compulsory management. The Bureau applied to Tbilisi City Court with the respective request.
Versia: “BUSINESSMAN EXILED TO SWITZERLAND DEMANDS TO PROSECUTE VANO MERABISHVILI”
(Economic Press Monitor: July 11, 2012)
David Begiashvili, founder of a holding company Vake-4 and Albatross Group, told the newspaper from Switzerland that exactly a year has passed since that his property in Georgia was sequestered. In addition, an action was brought against him with several articles (not specified).
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