Daily News March 5, 2010	Days: 02 04 05 09 10

economics

GEORGIA AND EU HAVE INITIALED AIR SERVICE AGREEMENT

Delegation of European Commission in Georgia informs that Georgia and EU have initialed a comprehensive air service agreement in Tbilisi today.

As the Delegation’s press release mentions, the document, envisaging integration of respective markets and strengthening of cooperation, will result in new opportunities for consumers and carriers.


AGREEMENT ON DOUBLE TAXATION AVOIDANCE WITH KUWAIT TO BE RATIFIED NEXT WEEK

Branch economy and economic policy committee of the Parliament has approved today an agreement on avoidance of double taxation on revenues and capital between Georgia and Kuwait. The document is expected to be ratified at the Parliament plenary session next week.


WORKS ARE CONDUCTED ON GETTING CONSTRUCTION PERMISSION WITHIN BLACK SEA REGIONAL ELECTRO-TRANSMISSION PROJECT

As Deputy Energy Minister Mariam Valishvili declared to Sarke, negotiations on getting construction permission are underway in the frameworks of Black Sea regional electro-transmission project. This process would be finished in the near future, she noted.


REHABILITATION OF 12-KM ROAD SECTION SHULAVERI – RED BRIDGE TO BE FINISHED IN SPRING

Motor-Road Department reports that rehabilitation of 12-km road section Shulaveri – Red Bridge (Kvemo Kartli region) should be finished in spring 2010.

The rehabilitation works were funded by the state budget with 4.8 million lari.


FOREST AGENCY TO BE LAUNCHED FROM APRIL

Branch economy and economic policy committee of the Parliament does not have remarks on draft bill “On Forest Agency”. The committee supports consideration of the documents in the third hearing at the plenary session by late March.


TOTAL ASSETS OF CREDIT UNIONS ARE BY 10% UP, WHILE LIABILITIES – BY 6%

National Bank of Georgia reports that total assets of credit unions (nonbank depository institutions) made up 1.81 lari in 2009, i.e. increased by 10% year-on-year.

Among them, 1.53 million lari accounted for credits issued to clients, growth – 11.6%.

MARABDA-KARTSAKHI RAILWAY CONSIDERS OFFER OF LLC REAL ESTATE EXPERT ON ENGINEERING SUPERVISION

LLC Marabda-Kartsakhi Railway informs that proposal of LLC Real Estate Expert on engineering supervision is being considered.

The matter concerns tender on technical supervision over rehabilitation and building works of Marabda-Tetritskaro railway section, being announced by Marabda-Kartsakhi Railway.


ACTUAL TOPIC: SPRING FASHION TRENDS

Spring makes us to dedicate the current issue of Actual Topic to the fashion. Sarke interviewed prominent Georgian designer Avtandil Tskvitinidze regarding trends of fashion-2010 and fashion business in general.


BLITZ-SURVEY: SALE IN SHOPS ARE MAINLY ON WINTER COLLECTIONS, WILE SPRING ACTIONS ARE NOT PLANNED YET

As the next survey of Sarke revealed, shops hold sale actions on winter collections mainly, while spring actions are not planned yet. Six clothes shops were surveyed: Benetton, Sela, Mango, Cop-Copine, Avtandil and Podium.


STARS TO BE GRANTED TO HOTELS FROM LATE MARCH

Misha Batiashvili, head of Global Star Association, declared to Sarke that process of Georgian hotels’ classification (awarding stars to them) will start by late March. Assessment criteria will be based on single standard of European association Hotelstars.


KAZAKHS LEFT UNITED TELECOM SUPERVISORY BOARD

JSC United Telecom informs that two members of supervisory board have left their posts at own request. The matter concerns representatives of Kazakh side, owner of controlling share in the company.


“OLD TBILISI” ADMINISTRATION TO BUY PAVING BITUMEN

Administration of “Old Tbilisi” district announced tender on delivery of 690 t of paving bitumen. Expected cost of procurement is 1 million lari.


KHECHINASHVILI UNIVERSITY CLINIC SOLD FOR $2M

Economic Development Ministry informs that Khechinashvili University Clinic was sold today for $2 million. The starting price was $1.8 million.


SELLING OF LAND PLOT IN BATUMI FAILED

LLC State Provision informs that selling of land plot of 1,117 square m with construction in Batumi (Memed Abashidze Str. 40) failed.

DRIVERS’ ORGANIZATION GROUP: COMPANIES, ENGAGED IN FUEL TRADE, SET INADEQUATELY HIGH PRICES

Drivers, united in organization group, consider that fuel distributors offer inadequately high prices. Neither free market principles act nor competitive environment exist, drivers note in their statement, submitted to Tbilisi City Hall and the President of the country.