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Saturday, November 21, 2009
News Making Money

Revised 2010 Draft Budget

06/11/2009 13:54 (15 Day 00:13 minutes ago)

The FINANCIAL -- According to Civil Georgia, Finance Minister, Kakha Baindurashvili, presented on November 6 to lawmakers a final draft of 2010 state budget, which has been revised from its initial version submitted to the Parliament last month.

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Planned budgetary revenues and expenditures are increased slighted from its initial draft and now are set at GEL 5.107 billion and GEL 5.398 billion, respectively.

 

Only two ministries – for healthcare and education – will receive increased funding next year against 2009. Funding for other ministries (Ministry for Penitentiary and Probation will have the same funding as in 2009) will be cut in 2010, according to the draft.

 

Breakdown of funding per ministry is as follows in the proposed revised draft, which may again be amended before it is approved by the Parliament:

 

Ministry of Labor, Healthcare and Social Protection – GEL 1.592 billion (GEL 1.534 billion in 2009);


Defense Ministry – GEL 750 million (GEL 897 million in 2009; GEL 1.547 billion in 2008);


Interior Ministry – GEL 548 million (GEL 568 million in 2009; GEL 739 million in 2008);


Finance Ministry – GEL 267 million (GEL 342 million in 2009);


Economy Ministry – GEL 22 million (GEL 66.5 million in 2009);


Ministry of Regional Development and Infrastructure – GEL 847 million (GEL 869 million in 2009);


Energy Ministry – GEL 17.9 million (GEL 57 million in 2009);


Justice Ministry – GEL 44 million (GEL 64 million in 2009);


Ministry for Penitentiary System and Probation – GEL 119 million (GEL 119 million in 2009);


Foreign Ministry – GEL 66.5 million (GEL 70.6 million in 2009);


Ministry of Education and Science – GEL 557.7 million (GEL 519 million);


Ministry of Culture, Protection of Monument and Sports - GEL 74.7 million (GEL 86 million in 2009);


Ministry of Agriculture – GEL 53.3 million (GEL 113 million in 2009);


Ministry of Environment Protection - GEL 29 million (GEL 41 million in 2009);


Ministry of Refugees and Accommodation – GEL 27 million (GEL 62.9 million in 2009);

 

Office of the State Minister for Reintegration Issues – GEL 1.1 million (GEL 1.3 million in 2009);


Office of the State Minister for Integration into European and Euro-Atlantic Structures – GEL 1 million (GEL 1.1 million in 2009);


Office of the State Minister for Diaspora Issues – GEL 800 thousand (GEL 906 thousand in 2009).

 

 

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Politics
Ruling Party Firm on 30% Threshold for Mayoral Election

21/11/2009 13:54 (00:13 minutes ago)

The FINANCIAL -- According to Civil Georgia, the ruling party has already compromised on number of key electoral issues, including on rule of electing Tbilisi mayor and now expects the Alliance for Georgia to reciprocate and agree on 30% threshold for electing the capital city’s mayor, a senior ruling party lawmaker said on November 20.

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World News
U.S. to send expert group to N.Korea ahead of envoy's visit

21/11/2009 13:51 (00:16 minutes ago)

The FINANCIAL -- According to RIA Novosti, the United States will send a group of experts on Korean affairs to North Korea on November 21 for talks on the country's nuclear program, ahead of a visit by Washington's envoy, Yonhap news agency said.

Americans Have Very Different Attitudes to Different Countries in, or Near the Middle East

21/11/2009 13:05 (01:02 minutes ago)

The FINANCIAL -- Americans may not be known for being good at geography or history, but they do have very different opinions of different countries, including countries in or near to the Middle East.

UN panel criticizes Iran over post-election crackdown

21/11/2009 12:16 (01:51 minutes ago)

The FINANCIAL -- According to RIA Novosti, the UN General Assembly's human rights committee has passed a resolution condemning the Iranian government for the crackdown on protests following the June presidential election.

Dozens arrested in UC Berkeley protest

21/11/2009 11:39 (02:28 minutes ago)

The FINANCIAL -- Officials say dozens of people occupying a campus building at the University of California, Berkeley, have been arrested. Students had barricaded themselves inside the university to protest budget cuts and steep hikes in student fees.

CityLife
Miley Cyrus tour bus crashes, killing the driver

21/11/2009 12:20 (01:47 minutes ago)

The FINANCIAL -- The driver of a tour bus for Miley Cyrus died on November 20 when the vehicle crashed in Virginia, another person was injured when the bus, one of several in a group carrying the singer's band and crew, ran off the side of the road and overturned. The 16-year-old “Hannah Montana’’ star Miley Cyrus wasn’t on board.



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Markets
NASDAQ OMX Launches New Fixed Income Index

21/11/2009 10:40 (03:27 minutes ago)

The FINANCIAL -- NASDAQ OMX Stockholm announces that it has launched a new fixed income index named OMRX All Index, which will act as a benchmark for the Swedish bond and money markets.

Jobs
ILO Governing Body calls for comprehensive crisis response

21/11/2009 11:32 (02:35 minutes ago)

The FINANCIAL -- The Governing Body of the International Labour Office called for an “employment oriented” response to the global economic crisis based on policy measures set out in the ILO’s Global Jobs Pact.

TRAVEL BIZ
Carlson Hotels Appoints Michael Hutchins as Vice President of Development for Radisson Hotels & Reso

21/11/2009 11:16 (02:51 minutes ago)

The FINANCIAL -- Carlson Hotels Worldwide on November 20 announced the appointment of Michael Hutchins to the position of vice president of development for Radisson Hotels & Resorts for the Eastern United States and Canada. Radisson is the flagship, full-service brand for the hotel division.

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Oil&Auto
All-new Kia Soul awarded 2010 'Top Safety Pick' by Insurance Institute for Highway Safety in the U.S

21/11/2009 13:01 (01:06 minutes ago)

The FINANCIAL -- Further exemplifying its exceptional quality and safety, the 2010 Kia Soul has yet again been recognized by the Insurance Institute for Highway Safety (IIHS) in the U.S. and been given a 2010 'Top Safety Pick' award for the second consecutive time this year in the Small Car category.

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INSURANCE
ING restructuring plan approved by European Commission

19/11/2009 12:39 (2 Day 01:28 minutes ago)

The FINANCIAL -- ING announced on November 18 that the European Commission has formally approved the restructuring plan submitted by ING .

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