Thursday, July 19, 2007, #136 (1403)

Press Scanner
Prepared by Diana Dundua

Headline: Suspected Counterfeiters Arrested
The investigation department of the Revenue Service arrested three persons suspected of creating and distributing counterfeit GEL 20 banknotes, Rezonansi reports.
While searching one suspect’s flat, the police discovered a computer and printer by which the fake banknotes were printed.
According to head of the investigation department Ramaz Nikolaishvili, these three suspects had been printing and distributing counterfeit money for several years.
“Several hundred thousand fake GEL 20 banknotes have been in circulation,” explained Nikolaishvili.
If found guilty, the suspects are likely to face four to seven years of jail time.

Headline: Shevardnadze Optimistic about Sochi Olympics
Former Georgian president Eduard Shevardnadze says that the 2014 Olympic Games in Sochi will have a positive influence on Georgian–Abkhaz conflict, Sakartvelos Respublika reports. According to him, the event should help relieve tension currently in the region.
“I think that the Olympic events in Sochi will play a positive role in settling the region’s conflicts if the Abkhaz people want official recognition in the games. The event will require a tremendous amount of employees, and while I can see Abkhazians employed in the operation, their participation in the Olympic Games is unimaginable,” explained Shevardnadze.
Additionally, Shevardnadze discussed Russia’s integration into the WTO and said that Georgia should not make decisions too hastily in regards to their integration.

Headline: People’s Bank Denies Selling Its Shares to Ukrainian Bank
The newspaper Svobodnaya Gruzia reports that People’s Bank denies information it has sold its shares to a Ukrainian bank.
The bank claimed instead it will itself buy a Ukrainian bank in the near future.
Last week the deputy chairman of the board of the Ukrainian bank Ukrgazbank Egor Rusin said that it plans to enter the Georgian market by the end of 2008.
“We plan to buy banking structures to open our branches on their foundation,” he said, adding that one of the banks the Ukrainians plan to purchase is People’s Bank.
The newspaper reports that People’s Bank is one of the largest banks in Georgia. The assets of the bank were USD 92.8 million at the beginning of June ranking the bank 7th among Georgian banks based on assets. The share capital of the bank is USD 19.9 million.

Headline: Employment Program for Students Started
The newspaper 24 Hours reports that the summer employment program for students has started. The press service of Tbilisi City Hall said that 2000 students will be employed. The students will perform various duties, including participating in city renovation projects for one month.
The students will be employed through August 16 and at the end of the program every student will receive GEL 300.
City Hall has chosen 2000 students who registered on City Hall’s website, however about 500 more students were on the waiting list.
The first student summer employment program took place in 2006.



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