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1. “BASISBANK” FINISHED Q3 WITH NET PROFIT OF 1.76M LARI
   (Daily News: October 13, 2011)

   Basisbank reported net profit of 1.76 million lari for the 3^rd quarter, declining by 7.3% year-on-year.

   Total assets of the bank are increased by 4.1% quarter-on-quarter and by 12.7% year-on-year, making up 158.2 million lari as of September 30.

2. “GEO-PLAZA” PAID PRIVATIZATION SUM
   (Daily News: October 6, 2011)

   LLC Geo-Plaza, winner of the auction on Tbilisi Rail-Welding Plant privatization, has paid own offer of 3.35 million lari, Economy and Sustainable Ministry has told Sarke. Starting price on the auction, held in the end of August, made up 3.3 million lari.

3. NUMBER OF RETAIL AGENTS OF “INTEL EXPRESS” ALMOST DOUBLED
   (Daily News: September 29, 2011)

   According to latest data of international remittance system Intel Express, number of its retail agents countrywide (i.e. persons authorized to implement money transfers) makes up 66. The number increased since the beginning of the year by 30.

4. Rezonansi: “GEORGIAN LARI IS THE MOST STABLE CURRENCY IN REGION AS OF 2011”
   (Economic Press Monitor: September 27, 2011)

   The newspaper notes that lari has strengthened by 7.17% against to the US dollar for the 8 months of the year. For the same period, Azerbaijanian manat has strengthened by 1.43%, while Russian rouble – 5.32%.

5. Bankebi da Finansebi: ““HSBC” BANK’S DECISION TO QUIT GEORGIAN MARKET WAS THE MATTER OF COMPETITION”
   (Economic Press Monitor: September 22, 2011)

   Zurab Gvasalia, head of Georgian Banks Association, considers that HSBC’s decision on leaving Georgian market is clearly connected with the competition.

   HSBC was oriented on the corporate service, funding mainly trade operations.

6. Rezonansi: “INTEREST RATES INCREASE DISTURBINGLY”
   (Economic Press Monitor: September 21, 2011)

   According to National Bank of Georgia (NBG), annual rate of interest on mortgage loans with duration up to 1 year has increased from 27.3% in July to 41.4% in August. Rate on car loans increased from 26% to 45% for the same period.

7. Akhali Taoba: “WATER PRICE MAY INCREASE AGAIN”
   (Economic Press Monitor: September 14, 2011)

   Zurab Abashidze, Tbilisi Sakrebulo (city council) member from oppositional Free Democrats, declares that water cost may increase in the capital after installation of individual consumer meters.

   Abashidze states as well that distribution part of Tbilisi Water (Tbilisi municipal water supply company) was acquired by Sakartvelos Banki (Bank of Georgia).

8. MP ZURAB MELIKISHVILI: THE GOVERNMENT DOES NOT PLAN TO SELL CONTROLLING STAKES OF STRATEGIC OBJECTS
   (Daily News: September 9, 2011)

   Zurab Melikishvili, chairman of the Parliament’s Fiscal Committee, has declared that the government does not plan to alienate controlling shares of strategic objects. The MP stated the mentioned, while his committee considered in first hearing draft amendments to laws “On State Property” and “On Entrepreneurship” today.

9. Rezonansi: “REALTY ESTATE, WHICH RUSSIA CLAIMS, IS LOCATED IN GEORGIA AS WELL”
   (Economic Press Monitor: September 8, 2011)

   In an interview with the newspaper, former ambassador to Russia Zurab Abashidze comments on property disputes between Georgia and Russia.

   As the newspaper notes, Russian experts consider that in response of hotel Tbilisi sale in Moscow, Georgia might confiscated building of Russian consulate in Tbilisi.

10. Kviris Palitra: “QUOD LICET JOVI, NON LICET BOVI”
    (Economic Press Monitor: August 1, 2011)

    The famous footballer Kakha Kaladze has managed to pay for land area, acquired for construction of multi-functional complex in Tbilisi, only $18.1 million instead of required $38.2 million.

    Investment of $700 million has to be made in Arsenal City project by 2016, but Kaladze points that the project was suspended due to Georgian-Russia war of 2008.

11. “BASISBANK” FIXED NET PROFIT OF 1.1M LARI IN Q2
    (Daily News: July 15, 2011)

    Basisbank reported net profit of 1.1 million lari for the 2^nd quarter. The figure is 2.8 times up quarter-on-quarter, while year-on-year decline is fixed at 23.8%.

12. “TBILGVINO” EXPECTS GROWTH OF REALIZATION AT 25% THIS YEAR
    (Daily News: July 11, 2011)

    Tbilgvino (wine producing company) plans to sell 2.5 million bottles in 2011, increasing rate by 25% year-on-year, one of shareholders of the company Giorgi Margvelashvili has declared to Sarke.

    This year, the company has entered new markets – India and Cyprus, while negotiations are underway with the US and Turkey, Margvelashvili said.

13. Kviris Palitra: ““STRIKE THE SPADE” TO SAVE FALLEN AGRICULTURE”
    (Economic Press Monitor: July 11, 2011)

    A research, conducted by the US Agency for International Development (USAID), shows that development of several agriculture directions may bring Georgia the largest income. The matter concerns fruits, vegetables, nuts and wine.

14. BLITZ-SURVEY: TRADITIONAL AND POTENTIAL MARKETS OF GEORGIAN WINE
    (Daily News: June 28, 2011)

    Current blitz-survey of Sarke scopes plans on creation of Georgian wine’s single brand and traditional, as well as potential markets. Among surveyed were Zurab Chekurishvili (deputy head of agriculture division of USAID’s Economic Prosperity Initiative), Keti Jurkhadze (sommelier), Giorgi Margvelashvili (president of JSC Tbilgvino) and Archil Lobzhanidze (director of Besini Company).

15. “STANDARD INSURANCE GEORGIA” FINISHED 2010 WITH LOSS OF 718,624 LARI
    (Daily News: June 24, 2011)

    According to JSC Standard Insurance Georgia, the company finished 2010 with loss of 718,624 lari. In 2009, the company’s loss made up 203,300 lari, i.e. 3.5 times less.

16. Rezonansi: “GOMBORI ROAD HAS TAKEN 76M LARI AND IT NEVER WILL BE GOOD”
    (Economic Press Monitor: June 23, 2011)

    The landslide has damaged Vaziani-Gombori-Telavi road again. Construction cost of this road amounted to 43 million lari, of which 30 million accounted for World Bank credit.

17. BLITZ-SURVEY: LONG-TERM T-BONDS – ADVANTAGES OR DISADVANTAGES
    (Daily News: June 13, 2011)

    Experts divided in their opinions regarding emission of 5-year treasury bonds. The survey includes Zurab Gvasalia (Georgian Banks’ Association), Temur Kuprava (Free University), Nodar Khaduri (Tbilisi State University), David Narmania (Caucasus Institute for Economic and Social Researches).

18. Rezonansi: “LOST CASES IN EUROPEAN COURT RUN INTO HUGE MONEY FOR GEORGIA THIS YEAR”
    (Economic Press Monitor: June 9, 2011)

    European Court has charged Georgia to pay 65,000 EUR after appeals against the decisions of the Georgian courts. Namely, the government must pay 50,000 EUR in case of Sandro Girgvliani and 15,000 EUR – in case of Zurab Tsintsabadze.

19. Rezonansi: “TOURISM BASIC PROBLEMS: RADIATION, HIGH PRICES AND BAD INFRASTRUCTURE”
    (Economic Press Monitor: June 7, 2011)

    Summer tourism season in Georgia will be officially opened on June 11. For this date, special arrangements are planned in Batumi.

20. Rezonansi: “PRIVATE TAX INSPECTOR TO GET 20% OF PENALTY FROM THE GOVERNMENT”
    (Economic Press Monitor: June 7, 2011)

    Revenue Service plans staff reduction. The Service considers that significant resources will be saved, due to the introduction of alternative audit and private tax inspector’s institution.

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