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1. NBG: CHANGE OF LARI RATE BY 1.36% IN ONE DAY SHOULD NOT BE CONSIDERED AS SOMETHING IMPORTANT
   (Daily News: May 7, 2010)

   National Bank of Georgia (NBG) told Sarke that yesterday’s jump in lari rate “should not be considered as evidence of some particular market processes”.

   To remind, NBG fixed yesterday official exchange rate of lari at 1.7940 GEL/USD instead of 1.7699 GEL/USD on previous day (day-on-day decrease 1.36%).

2. LARGER JETS COULD LAND IN TBILISI INTERNATIONAL AIRPORT IN NEAR FUTURE
   (Daily News: May 5, 2010)

   According to Zurab Pololikashvili, Georgian Minister of Economic Development, larger jets will also be able to land in Tbilisi International Airport in near future.

   The Minister declared this today, on the meeting with representatives of ADPI (Aeroport De Paris Ingenierie).

3. JSC “TBILGVINO” EXPECTS EXPORT INCREASE BY 30% THIS YEAR
   (Daily News: May 4, 2010)

   Giorgi Margvelashvili, director general of JSC Tbilgvino, told Sarke that the company expects export increase by 30% during the current year. Namely, export made up 1.3 million bottles in 2009, while, according to Margvelashvili, its volume

   should reach about 1.7 million bottles in 2010.

4. GEORGIA AND UZBEKISTAN DISCUSS ECONOMIC RELATIONS’ DEEPENING
   (Daily News: May 3, 2010)

   Zurab Pololikashvili, Georgian Minister of Economic Development and Elior Ganiev, Uzbek Minister of Foreign Economic Relations, Investments and Trade are discussing economic relations’ deepening.

   According to the Ministry of Economic Development of Georgia, negotiations will be held in Tashkent, where Georgian delegation, headed by Pololikashvili, has departed today in order to take part in events of Asian Development Bank on May 3-4.

5. Rezonansi: “LARI DEVALUATION MAY CAUSE BUDGETARY AMENDMENTS”
   (Economic Press Monitor: April 30, 2010)

   The newspaper supposes that lari devaluation may cause amendments to the budget. Part of expert share the thought, while others – do not.

6. Rezonansi: “TIME IS RIPE FOR INTRODUCTION OF BANKING OMBUDSMAN IN GEORGIA”
   (Economic Press Monitor: April 29, 2010)

   Agreements between clients and banks describe mainly rights of the latter ones, while client’s rights are diminished, the newspaper says. That is why the time is ripe for introduction of banking ombudsman in Georgia.

7. Rezonansi: “BANKING SYSTEM – REALITY AND PROSPECTS”
   (Economic Press Monitor: April 27, 2010)

   President of Banking Association Zurab Gvasalia considers that direct connection of increased minimal reserve requirement with interest rates or expansion of monetary base is mistake. In the given case, minimal reserves bear double meaning, he says.

8. JSC “TELAVI WINE CELLAR” INCREASED EXPORT BY 15-20%
   (Daily News: April 28, 2010)

   Zurab Ramazashvili, chairman of supervisory board of JSC Telavi Wine Cellar, told Sarke that export in the 1^st quarter increased by 15-20% if compared to the same period of 2009. Currently, the company implements export to 16 countries.

9. LLC “UNIGRAIN GEORGIAN GROUP” TO INCREASE CAPACITY OF GRAIN TERMINAL
   (Daily News: April 27, 2010)

   Zurab Daraselia, deputy director of LLC Unigrain Georgian Group, declared to Sarke that the company is going to expand by 2,000 square m area of grain terminal, located in Poti. As a result, capacity of the terminal will be increased by 4,000 t.

10. 24 Saati: “KAZAKHSTAN LAUNCHES INVESTMENT PROJECTS IN GEORGIA”
    (Economic Press Monitor: April 15, 2010)

    Georgia-Kazakhstan intergovernmental economic commission held its 4^th meeting in Astana. Georgian Economic Development Minister Zurab Pololikashvili assesses the meeting of intergovernmental working group very positively.

11. PROFIT OF “BASISBANK” MADE UP 931,811 LARI IN Q1
    (Daily News: April 15, 2010)

    Basisbank reported profit of 931,811 lari in the 1^st quarter of 2010. The bank fixed loss of 4.26 million lari in the same period of 2009.

12. “ALCOHOLIC BEVERAGES COMPANY ALAVERDI” PLANS PRODUCTION OF SPARKLING WINE AND LIQUEUR
    (Daily News: April 14, 2010)

    Zurab Goginashvili, co-founder of LLC Alcoholic Beverages Company Alaverdi, told Sarke that the company is going to launch production of sparkling wines and liqueur in 2010.

    Exact terms are not defined yet, as they depend on financing.

13. Rezonansi: “TAX CODE MAY BE REWRITTEN AFRESH”
    (Economic Press Monitor: March 24, 2010)

    Georgian Finance Ministry planned a large-scale audit of Tax Code for 2010, aiming to reveal how beneficial this Code is for investors.

    According to Giorgi Isakadze, president of Business Association, the Association has sent plenty of remarks on the Code to the Ministry.

14. 24 Saati: “BANKING SECTOR COULD NOT AVOID LOSS”
    (Economic Press Monitor: March 23, 2010)

    Losses of Georgian banking sector amounted to 1.6 million lari in February 2010 and 2.72 million lari – in January. However, losses of 19 banks, operating on local market, were 11-times more in the same period of previous year.

15. RIGHT TO ISSUE SCIENTIFIC GRANTS TO APPLY FOR LEGAL ENTITY OF PUBLIC LAW
    (Daily News: March 25, 2010)

    Amendments to law “On Grants” apply right on scientific grant issuance to legal entities of public law. The Parliament’s fiscal committee has supported the document today in the first reading.

16. TWO COLD STORAGES OPENED IN KAKHETI WITHIN AGRIBUSINESS DEVELOPMENT PROJECT
    (Daily News: March 11, 2010)

    According to Millennium Challenge Georgia fund (MCG), two cold storages opened today in Kakheti region (in Sagarejo and Gurjaani) within project on agribusiness development.

    In Sagarejo, sole proprietor Zurab Medulashvili has received a grant in the amount of $150,000.

17. Rezonansi: “DANGER OF COUNTRY’S BANKRUPTCY WILL BE REAL IN 3 YEARS”
    (Economic Press Monitor: February 26, 2010)

    The experts predict that Georgia’s foreign debt may appear serious macroeconomic problem. They estimate that Georgia accepts debts rapidly.

18. “HERBIA” TO EXPORT GREENS AND VEGETABLES TO EUROPE
    (Daily News: February 23, 2010)

    Zurab Janelidze, head of LLC Herbia, has informed Sarke on export of greens and vegetables to Europe, planned for March. The matter concerns markets of Netherlands, Germany and Poland.

19. PRESIDENT OF GEORGIAN BANKS’ ASSOCIATION: COMMERCIAL BANKS’ BANNING ON ISSUING CREDIT TO PERSONS WITH “BLACK ACCOUNTING” WOULD WORSEN ENVIRONMENT
    (Daily News: February 22, 2010)

    According to Zurab Gvasalia, president of Georgian Bank Association, prohibiting commercial banks to issue credits to borrowers with so-called “black accounting” would aggravate environment. Large and middle-sized companies already run business legally, while small traders will appear in difficult situation, he notes.

20. ZAZA CHELIDZE ELECTED EXECUTIVE DIRECTOR AND CHAIR OF “SAKSTAT” COUNCIL
    (Daily News: February 17, 2010)

    Sakstat (GeoStat, former Georgian Statistic Department) reported that first meeting of Sakstat Council elected Zaza Chelidze as its chair today. Chelidze will become executive director of Sakstat as well.

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