News in Brief - April 24, 2007 -

economics
IN 3 YEARS CARS INCREASED IN NUMBER BY 50%
According to Georgian Statistics Department and Patrol Police, number of cars has been increased by 50% during past 3 years. If 60 cars accounted per 1,000 people in 2003, then by the end of 2006 the figure made up 90.
THIS YEAR 25M LARI SHOULD BE ALLOCATED ON MELIORATION
Agriculture Ministry informs that 20 million lari has been spent already on melioration system development, and 24.7 million investments should be made this year. Until 2009, additional 30 million will be invested.

business
UP TO 80% OF TOTAL NET PROFIT IN BANKING SECTOR ACCOUNTS FOR 5 BANKS
According to National Bank of Georgia (NBG), in 1st quarter net profit of 5 banks from 18 operating ones amounted to 20.2 million lari. It made up 80% of total net profit in banking sector of the country.
5 BANKS HOLD 81% OF BANKING SECTOR’S ASSETS
In the 1st quarter assets of 5 banks from 18 operating ones made up 3.8 billion lari (81% of total), National Bank of Georgia (NBG) informs.
Bank of Georgia holds leading position with its assets of 1.5 billion lari (33% of total).
ECONOMIC DEVELOPMENT MINISTRY CALLS FOR INITIAL INTEREST IN RIKOTI TUNNEL LEASING
Ministry of Economic Development has called investors to express their interest in long-term leasing of Rikoti tunnel. Leasing period is 49 years.
THIRD MCDONALDS TO BUILD IN TBILISI
Temur Chkonia, president of Coca-Cola Bottlers Georgia, and Giorgi Arveladze, Minister of Economic Development of Georgia, have announced today on constructing of third restaurant of McDonalds. The restaurant will be located in Saburtalo district, near Sport Palace.
AUCTION ANNOUNCED ON FISHING LICENSE
Ministry of Environmental Protection and Natural Resources has announced an auction on fishing license in Georgian sector of Black Sea. Applications are to be submitted to May 8.

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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