News in Brief - Mai 04, 2007 -

politics
FINANCIAL-BUDGETARY COMMITTEE SUPPORTS NEW SYSTEM OF POLITICAL PARTIES’ FUNDING
The financial-budgetary committee of Parliament has considered and supported legal initiative, presented by the MP Rati Samkurashvili, representing majority. The amendments envisage changes in system of funding of political parties.

economics
EURO CHAMBER PLANS TO SUPPORT ECONOMIC DEVELOPMENT OF EU NON-MEMBER COUNTRIES
The meeting of presidents of commerce and industry chambers of states, which are not EU members, but associated, however, in EuroChambres, has been held today in Tbilisi. EuroChambres president Pierre Simon, representatives of Armenia, Azerbaijan, Belarus, Croatia, Georgia, Macedonia, Moldavia, Norway, Russia and Turkey discussed relation deepening, legal base harmonization, European Neighboring Policy realization and other questions.
CREDITS ISSUED IN FOREIGN CURRENCY 3 TIMES EXCEEDS ISSUED IN NATIONAL CURRENCY
According to the National Bank of Georgia (NBG), credits issued in foreign currency made up $1.3 billion. This volume, calculated in lari equivalent, almost 3 times exceeds total volume of credits, issued in national currency – 764 million lari.
DEPOSITS IN FOREIGN CURRENCY EXCEEDS TWICE DEPOSITS IN NATIONAL CURRENCY
As the National Bank of Georgia (NBG) informs, bank deposits, placed in foreign currency, made up $770 million in 1st quarter. The volume, calculated in lari equivalent, exceeded twice volume of deposits, placed in national currency, which amounts to 603.4 million lari.
TRADE SESSION SCHEDULE CHANGED
As Georgian Stock Exchange informs, new trade session schedule have been launched from May 2007.
Trade sessions will be held three times a week – Monday, Wednesday and Friday.

business
TBC-BANK PLANS ACTIVELY DEVELOP RETAIL CREDITING
New strategy of TBC- Bank envisages retail crediting active development, Vakhtang Butskhrikidze, the bank president said. Addressing opening of new branch in Didube district of Tbilisi, Butskhrikidze noted that the bank plans to invest $25 million in broadening of branch, service center and ATM network.
WESTERN UNION RANKS 1ST IN MONEY TRANSFERS
As the National Bank of Georgia (NBG) informs, 23% of total money transfers to Georgia and 39% of money transfers from Georgia was made through Western Union. Western Union ranks the 1st in accordance with these figures.
ONE COMPANY SUBMITS APPLICATION ON CITY CONCERT HALL
Application on LLC Tbilisi State Concert Hall 49-year leasing was submitted by one company – International Event, the Ministry of Economic Development reports. Competition commission is to make decision in 10 days.


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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