The Wall Street Journal-20080117-Politics -amp- Economics- In Brief
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Politics & Economics: In Brief
Georgian Leaders Promote Economic Overhaul
Newly re-elected Georgian President Mikheil Saakashvili wants to slash taxes, speed privatization, ease foreign investment and tap international capital markets to shake up the country's economy, his prime minister said. "The state will basically do everything to support business and investments," said Prime Minister Lado Gurgenidze, a former manager with ABN Amro.
Germany Urges Nokia to Keep Factory Open
The German government urged Nokia Corp. to reconsider its plan to close a plant in the city of Bochum by midyear, as outrage about job losses and the planned relocation to Romania intensified. Nokia said it was ready to discuss its plan but had concluded the location wasn't competitive.
South Korean Leader Plans Consolidation
South Korea's president-elect, Lee Myung-bak, proposed reorganizing the government's economic activities into two agencies and placing the relationship with North Korea in the hands of the foreign ministry. For 40 years, a separate ministry has handled it. The plan must be submitted for approval to the National Assembly.
