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1. “AIRBALTIC” OPENED OFFICE IN TBILISI
   (Daily News: November 16, 2010)

   Latvian national air company AirBaltic has opened today representation office in Tbilisi (Paliashvili Str. 72).

   As AirBaltic’s sales manager in Georgia Zurab Naroushvili declared to Sarke, the company decided to open office aiming to strengthen trend of passenger traffic growth, making 30% from the start of year.

2. TWO GEORGIAN COMPANIES IMPLEMENT POTI-SENAKI PIPELINE CONSTRUCTION
   (Daily News: November 16, 2010)

   Georgian Oil and Gas Corporation reports that two Georgian companies, Khidmsheni and Sakhydro, implement Poti-Senaki pipeline construction. Pipeline construction, being started in September, is expected to finish until the end of year.

3. “GLOBAL TV” TO START 3D BROADCASTING
   (Daily News: November 15, 2010)

   Zurab Bazlidze, director of Global TV, declared that the company starts broadcasting of 3D (stereo) channels. He said that the decision was made, basing on customers demand, and noted that this is innovation in Georgia.

4. Rezonansi: “WHY NO ONE IS INTERESTED IN GEORGIA’S OIL AND GAS RESERVES?”
   (Economic Press Monitor: November 9, 2010)

   Expected reserves of oil amount in Georgia to 2.44 billion t, while of gas (in Eastern Georgia) – to 180 billion cubic m. In case of extracting even 40-50% of these resources, the country could gain profit of several hundred billion dollars.

5. MPS AND REPRESENTATIVES OF CONTROL CHAMBER ARE ACQUAINTED WITH INTERNATIONAL EXPERIENCE IN FINANCIAL SUPERVISION
   (Daily News: October 22, 2010)

   Westminster Foundation for Democracy (Great Britain) has organized seminar for deputies of the Georgian Parliament and employees of Control Chamber in Tbilisi today. During this seminar, Georgian participants have been acquainted with international experience of financial supervision.

6. Rezonansi: “EVEN 10 ENTERPRISES WERE NOT OPENED WITHIN FRAMEWORK OF 100 ENTERPRISE PROJECT”
   (Economic Press Monitor: October 19, 2010)

   Nobody recalls now the project of “100 (new) enterprises”, initiated in 2008 for saving the agriculture sector, the newspaper notes. Even 10 enterprises were not opened within the frame of this project.

7. “BASISBANK” HAS FINISHED Q3 WITH PROFIT OF 1.89M LARI
   (Daily News: October 15, 2010)

   Basisbank reported profit of 1.89 million lari for the 3^rd quarter. In the same period of 2009, the bank fixed loss of 2.38 million lari.

8. BUSINESS ASSOCIATION: NEW TAX CODE ENVISAGED 59% OF INITIATIVES, MADE BY BUSINESS
   (Daily News: October 12, 2010)

   According to Giorgi Chirakadze, president of Business Association, 59% of suggestions, made by business circles, was envisaged in new Tax Code. It does not mean that Association is satisfied by 59%, but we consider that the main thing is that we have cooperated with the government and trust increased mutually, he noted.

9. “TAOPRIVATBANK” OFFERS INSTALLMENT FOR PURCHASING OF PC IN TERMS OF EDUCATION AND SCIENCE MINISTRY’S PROJECT
   (Daily News: October 7, 2010)

   Within frameworks of Education and Science Ministry’s project “Computer for Everyone”, purchasing of PCs will be available since October 22 through installment program of TaoPrivatBank.

   All local banks would be engaged in this project step-by-step, Deputy Minister of Education and Science Koka Seperteladze told journalists.

10. Rezonansi: “THE GOVERNMENT SOLD OUT BUILDING OF ZHORDANIA INSTITUTE”
    (Economic Press Monitor: September 28, 2010)

    LLC Sani acquired building of Zhordania Human Reproduction Research Institute, located in Tbilisi center, for $2.5 million at the privatization auction. According to the terms and conditions of the auction, the Institute has to leave the building after 6 months (by April 15, 2011).

11. RECONSTRUCTION OF JSC “POTI MILLING PLANT” TO BE COMPLETED BY THE END OF 2010
    (Daily News: July 27, 2010)

    Zurab Tsomaia, director general of JSC Poti Milling Plant, reported to Sarke that reconstruction works in the company would be finished by the end of this year. We would announce the volume of expenses afterwards, he noted.

12. COMMITTEE CHAIRMAN OF GEORGIAN BUSINESS ASSOCIATION: INCREASE OF VAT LIMIT WOULD HAVE NO SIGNIFICANT EFFECT
    (Daily News: July 23, 2010)

    Zurab Lalazashvili, chairman of tax and customs committee of Georgian Business Association, considers that increase of turnover limit for obligatory payment of VAT would have no significant effect. However, it would be better if the government had not advertised the limit increase in advance, he said.

13. “BASISBANK” HAD PROFIT OF 1.48M LARI IN Q2
    (Daily News: July 21, 2010)

    Basisbank reported profit of 1.48 million lari for the 2^nd quarter. This figure exceeds by 58.8% showing of the 1^st quarter.

14. ZURAB POLOLIKASHVILI TO SUPERVISE BUSINESS DIRECTION IN “TBC BANK”
    (Daily News: July 16, 2010)

    TBC Bank announced that Zurab Pololikashvili, ex-minister of economic development, has been appointed on the position of deputy director general of the bank. To note, director general had 6 deputies until now.

15. GEORGIAN ECONOMIC AND STABLE DEVELOPMENT MINISTER HAS PRESENTED TWO NEW DEPUTIES TODAY
    (Daily News: July 16, 2010)

    Vera Kobalia, Georgian Minister of Economic and Stable Development, has presented two new deputies today. Archil Kekelia has been appointed on the position of first deputy, while Davit Giorgadze has become deputy.

16. Bankebi da Finansebi: ““CHEAP CREDIT” PROGRAM WAS ENVISAGED FOR A FEW, SO MONITORING OF LOANS IS NOT RUNNING”
    (Economic Press Monitor: July 14, 2010)

    The government remembered small and medium businesses for the first time in 2008 and offered the new initiative “Cheap Credit”, the newspaper reports.

    Within this program, 65 million lari was alloted in total through 2008-2009, at that 62.4 million in 2009, while in 2010 the program is lasted only in Tbilisi and 1 million lari was alloted from the state budget.

17. Rezonansi: “FROM MALAZONIA TO CHKHARTISHVILI AND FROM CHKHARTISHVILI TO NOGAIDELI”
    (Economic Press Monitor: July 12, 2010)

    Geno Malazonia, head of Energy Invest (gas turbine power plant in Gardabani), blamed in large tax evasion, will soon leave the prison, on the base of plea agreement.

    According to some rumors, Interior Ministry hook up Vano Chkhartishvili, who left Georgia some days ago, with the help of Malazonia’ testimony.

18. Rezonansi: “CONFRONTATION SHARPENS DUE TO AIR-TICKETS PRICE”
    (Economic Press Monitor: July 2, 2010)

    Vera Kobalia, candidate for the post of Economic Minister, considers that tickets for international flights are too expensive.

    Cost of arrival from Europe to Georgia, making about 500-600 EUR, is very expensive, Kobalia decalres.

19. MANAGEMENT OF “BASISBANK” CHANGED
    (Daily News: July 1, 2010)

    Basisbank announced that Zurab Tsikhistavi has left the position of director general. Supervisory board of is going to elect him as chairman in near future, the bank said without providing any grounds for this decision.

20. Rezonansi: ““TAOPRIVATBANK” ESTABLISHED AWARD OF 20,000 LARI FOR INFORMATION ABOUT ROBBERS”
    (Economic Press Monitor: June 24, 2010)

    Money collectors of TaoPrivatBank Bank were attacked in the morning on June 23. Attackers had wounded 2 money collectors and stolen supposedly 2 sacks of money.

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