News in Brief – Mai 02, 2007 –

economics
2M LARI ALLOCATED FOR ROAD REHABILITATION IN GEORGIAN-OSSETIAN CONFLICT ZONE
As the Ministry of Economic Development informs, up to 2 million lari allocated for road reconstruction in Georgian-Ossetian conflict zone.

Road Department addressed to the Ministry with appeal to envisage sums in the state budget.

business
MAJOR PART OF OPERATIONS CARRIED OUT THROUGH PLASTIC CARDS ACCOUNTS FOR VISA
As National bank of Georgia (NBG) reports, the number of plastic cards grew up by 163,000 in 1st quarter and exceeded 1 million. 80% of it accounts for Visa cards, 19% – EuroCard/MasterCard (EC/MC).
ONLY ONE INSURANCE COMPANY FAILED TO MEET DEMANDS ON CHARTERED CAPITAL INCREASE
As the Insurance State Supervisory Service informs, only one company out of 14 failed to meet demand on chartered capital increase.
The matter concerns Insurance Company of Georgia.
7.8M LARI RECEIVED FROM AUCTION ON FORESTRY LONG-TERM LICENSE
The auction on forestry 20-years leasing license was conducted today in the Ministry of Environment Protection and Natural Resources. The total income of auction, where 3 forestries were brought, amounted for 7.8 million lari instead of starting price of 4.6 million.
$880,000 PAID FOR ORE DEPOSIT PROCESSION IN AJARA
Georgian-British-South African company Metalon Georgia will pay $880,000 for ore deposit procession license in Merisi, Keda district of Ajara. This is result of first auction, held in the Ministry of Environment Protection and Nature Resources under the project “Invest in Fossils”.
14 FOREIGN AIR COMPANIES OPERATE ON LOCAL MARKET
As the National Transport Regulating Commission informs, permission on air flights were granted to 4 Georgian and 14 foreign companies. There are no Russian air companies among them.
CASPIAN TRADING TO PURCHASE OIL FROM STATE CORPORATION
Georgian Oil and Gas Corporation reports that Caspian Trading, registered in Georgia with foreign participation, won the right to purchase 16,000 t of oil till the end of the year. The company was the only participant of first auction, held today.

society
INTERNATIONAL EXPERTS SHARE WITH GEORGIAN COLLEAGUES EXPERIENCE ON COMPANY RESTRUCTURIZATION IN ACCORDANCE WITH SOCIAL FACTORS
Socially sensitive company restructurization is being discussed at 3-day conference, opened yesterday in informational business center of National Investment Agency. The conference is organized by Employers Association of Georgia with support of International Labor Organization (ILO).

LAST WEEK REVIEW
politics & society
ACTUAL WARMING OF RELATIONSHIPS NOT EXPECTED
Tensions between Russia and Georgia are still in the limelight. Georgian Foreign Minister Gela Bezhuashvili considered current tense atmosphere between the countries during his Moscow visit with his colleague

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