Caucasus Business Week #244

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July 2, 2018 - www.cbw.ge

#244

WEEK

Survey

That Sacrificed Prime Minister Kvirikashvili p.9

Electronic Cigarette and Its Effect on Human Health

p.11

Georgian Wine and Alcohol Company Presented a New Premium, Cultic Wines

p.6

What to Expect from VAT-Free Dairy Production

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Georgia cuts tariffs for Hong Kong goods under free trade pact Free Trade Agreement was signed between Georgia and Special Administrative Region of the People’s Republic of China, Hong Kong on June 28.

Loans Larization Rose to 44.9%

Coefficient

Crediting volume of commercial banks (including loans issued to nonresidents) rose by 239.6 million GEL in May compared to April (+1.1%) and constituted 22.9 billion GEL as of June 1, 2018.

Commercial Banks Issued 240 million GEL Loans in May

Kobuleti 18-km Bypass Road Opened Prime Minister Mamuka Bakhtadze has opened a 18-kilometer section of Kobuleti bypass road in Adjara. The section comprises two new bridges and renewed infrastructure and it reduces driving time to Batumi by 30 minutes.

We will Apply Blockchain Technologies in Tax Administration: New PM says “All taxes, excluding VAT, will be based on BlockChain technology”, Prime Minister Mamuka Bakhtadze told the Parliament.

Azerbaijan Invested $51m in Georgia’s Economy in Q1 of 2018 Azerbaijan invested $51 million in Georgia`s economy in the first quarter of this year, becoming its second largest investor, according to the Georgian media.

Business Sector To Communicate with Business Ombudsman Via Electronic Portal Business Ombudsman of Georgia Irakli Lekvinadze and deputy Business Ombudsman Levan Kalandadze introduced the Business Ombudsman’s portal to the private sector representatives.

In May 2018 volume of GEL-denominated loans in commercial banks rose by 157 million GEL (without interbank loans), while foreign currency denominated loans increased by 18 million USD. More than 300 000 Citizens of Georgia Enjoy Visa-free Regime with EU More than 300 000 citizens of Georgia have used visa-free regime opportunity with EU since March 28, 2017 to travel to Schengen zone countries.

The New Structure of Government to Include 10 Ministries and 1 Office of State Minister The new structure of the Georgian Government will consist of 10 Ministries and 1 Office of State Minister. During today’s briefing, Prime Minister Mamuka Bakhtadze discussed the concept of the small government, maximally flexible and prompt in decision-making.

The Huawei P20 Pro was named as the best smartphone of 2018 by the European Hardware Association By the first half of 2018, we observed many smartphones from top mobile technology producers.

We are looking forward to the second wave of autumn, but before that we will present the flagship smartphone from Huawei, the world’s largest telecommunications provider.

The Editorial Board Follows Press Freedom Principles Publisher: LLC Caucasian Business Week - CBW Director: Levan Beglarishvili WWW.CBW.GE Address: Aleksidze Street 1 Sales: Mob: +995 591 01 39 36 Email: caucasianbusiness@gmail.com Editor: Nutsa Galumashvili. Mobile phone: 595 380382 Copy Editor: Ellie Rambo Reporters: Nina Gomarteli; Mariam Kopaliani; Merab Janiashvili, Economic columnist: Andria Gvidiani; Technical Assistant: Giorgi Kheladze;

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Survey that

Sacrificed

Prime Minister Kvirikashvili

UNICEF: Household Incomes Rose, Expenditures Declined, but Poverty Level Increased Anyway in 2015-2017 Increased poverty level, confirmed by the UNICEF survey, is named behind the resignation of Prime Minister Giorgi Kvirikashvili. UNICEF conducts Welfare Monitoring Study every second year. According to the research, poverty indicators in Georgia rose in 2015-2017.

It is interesting that official indicators also give analogical results. For example, according to Geostat, national statistics service of Georgia, the ratio of population under median consumption level rose to 22.3% from 20.2% in 2015-2017. Poverty level in Georgia is high and number of citizens in the list of social assistance also proves this. About 1 million persons of 3.7 million total residents ask for social allowances from the Authorities and about 0.5 million persons receive monthly assistance of 56 million GEL. According to the UNICEF study, over the past 2 years real incomes of household economies significantly increased. In 2015 nominal monthly averaged incomes of household economies was 608.9 GEL, the figure rose to 771.9 GEL in 2017, up 26.8%.

In 2017 nominal incomes of household economies in urban zones was 867.1 GEL and in rural areas – 672.7 GEL. On average monthly household incomes in urban zones are higher by 29%. At the same time, the survey

results prove that in 2015-2017 real expenditures of household economies declined.

According to the survey, in Georgia, over the past 2 years, averaged nominal monthly expenditures of household economies (788.6 GEL) declined by 4.1%. Taking into account the inflation, averaged monthly consumption of household economies in 2015-2017 years decreased by 10.1%. As to distribution of expenditures, in 2015-2017 years, ratio of food products, nonfood products of long consumption and education in total structure of real expenditures of household economies declined by 17.5%, 20.1% and 20.3%, respectively. At the same time, expenditures on healthcare, outdoor feeding and current nonfood products rose by 6.3%, 8.0% and 51.8% respectively.

One more interesting fact from the survey – Inequality of revenues decreased in Georgia, while consumption inequality remains the same. In 2015-2017 inequality in incomes declined to 0.42 from 0.43.

According to the UNICEF survey, despite household incomes increased and expenditures declined over the past 2 years, the inequality remains on the same level. According tothe received indicators, poverty indicators have risen in Georgia.

4.3% of total number of household economies, 5.0% of our population, 6.8% of children and 3.7% of pensioners remain under the poverty level. (Extreme poverty level is appraised at 1.25 USD, which makes

up 82.8 GEL a month for one equivalent person).

According to the assessment, ratio of persons in extreme poverty in villages makes up 4.0% and in urban areas – 4.5%. In 2015-2017 years number of household economies, population, children and pensioners under extreme power level has increased to 2.6%, 2.9%, 4.3% and 2.0% respectively.

The research has showed up that 22.5% of household economies remain under the comparative poverty level and there is huge difference between villages and urban settlements (24.1%-20.9%). In Georgia general poverty level has increased.

In 2015 this indicator was 16.4% in total number of household economies, while in 2017 the figure rose to 19.6%. Despite this fact, the situation has improved as compared to the 2013 situation.

In Georgia 19.6% of household economies live under general poverty level, as well as 21.7% of population, 27.6% of children and 17.6% of pensioners (general poverty level is assessed by 2.5 USD a day, which makes up 165.5 GEL a month for one body).

According to Welfare Study conducted in 2015, household economies had to spend more with less incomes (averaged expenditures 821.8 GEL, and averaged incomes – 608.9 GEL).

The survey authors supposed that excessive expenditures were covered thanks to savings, but we

should take into account that Georgian citizens had insignificant savings in that period (it is not high even today). According to the 2016 indicators of International Monetary Fund (IMF), Georgia ranked 80th worldwide in terms of savings in GDP (21.5% indicator). It is more trustworthy to think that the mentioned excessive spendings were financed through loans. In 2017 amid significant growth in incomes, household economies reduced expenditures (averaged expenditures made up 788.6 GEL, while averaged incomes totaled 771.9 GEL). The research shows that expenditures made by household economies on food, education and products of long consumption declined along with the growing consumer prices.

We should ask Georgian Dream leaders whether Prime Minister Giorgi Kvirikashvili has genuinely resigned because of worsened poverty level indicators. Anyway, we should welcome the fact that Prime Minister has resigned only because of worsened economic indicators.

Once and forever this practice should be established in Georgia, when economic team ministers or officials should bear responsibility for economic indicators in the country and quit positions if they fail to improve the situation.

By Merab Janiashvili

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What to Expect from

VAT-Free

Dairy Production New Prime Minister Mamuka Bakhtade has proposed an initiative to exempt natural milk and dairy goods production from VAT payment. When delivering his speech at the parliament as PM candidate, Mamuka Bakhtadze noted that there are asymmetric regulations in agriculture sector that do not foster the sector development.

«We propose to free not only milk supply from VAT, but all products made of natural milk», Mamuka Bakhtadze noted.

These reforms will enable farmers to accumulate more incomes.

Moreover, farmers will be able to sell natural milk at higher prices and receive additional incomes and this signifies dairy plants will be able to use natural milk instead of milk powder, which is imported from abroad by 100%.

The third key benefit is that our citizens will enjoy dairy products of natural milk, Bakhtadze said.

The Caucasus Business Week (CBW) has inquired what the field specialist and private sector representatives think about this initiative and what results we should expect from this new initiative.

This decision will not make dairy products expensive and domestic products will become competitive compared to imports, they noted.

Sante company director Erekle Gamkrelidze explains that domestic natural products production will become interesting in many directions after VAT removal.

«This, first of all, will boost production of primary products and processing industry. Demand for milk

will rise, farmers will accumulate more incomes and consequently, they will expand their products.

As to prices, we do not expect them to change, because the industry is quite flexible in this respect», Gamkrelidze said.

Nino Zambakhidze, head of Association of Farmers, agrees with Erekle Gamkrelidze’s position.

«First of all, cattle-breeding direction will be developed and similar support is genuinely positive decision. As to pricing policy, I believe that this initiative will not increase prices of dairy products», Nino Zambakhidze said.

I genuinely welcome this initiative, because there are a lot of challenges in this sector. VAT removal will tackle many problems and will promote the field development.

Moreover, valuable and healthy competition will be established on the market. It is also noteworthy that regretfully, today the ratio of natural milk in production is only 30%, while the Government’s new initiative will reduce a use of milk powder. As a result, natural milk production will also increase, Rusudan Gigashvili, head of Farmer of the Future noted.

According to Geostat, national statistics service of Georgia, in the first quarter of 2018 milk production made up 98.3 million liters, down 1.4% as compared to the same period of 2017.

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VRium -

Designing tangible hyper reality

All started with a dream of four Georgian friends (Irakli Kokrashvili, Mikheil Chkhartishvili, Gabriel Meliva & George Dalakishvili) to create something unbelievable. There was huge challenges for them, they wanted to create something unique and give people a great experience: To inspire people’s Imagination; By crafting virtual reality; By bursting the reality; By changing people’s perspectives to change their point of view.

Their playground differs from competitors.

Four key elements makes their product A quality: Spatial perception; Original visual; Original sound effects; Unique gameplay.

The tech team has 10+ years experience of working in the gaming sector. The lead developer Irakli Kokrashvili has been working in the gaming industry for 15 years heading creation of the award-winning products. The project led by him was as a runner-up of the 3D Jam by Leap Motion. His team designed

one of the most popular Georgian steam VR games VRZ: torment.

Collaboration with a well-known game designer Mark Rein-Hagen brought more successful projects including creation of a large number of mobile games.

Interview with the Team: Our team is created by the people passionate about technology and gaming. We believe in the power of the team work where each member is ready to walk the extra mile.

We are sure that VR gives us an opportunity to more efficiently and sustainably change public perception.

VRium creates a fully immersive experience by combining physical and digital worlds. We are established in the VR gaming and produce hardware and software which together build a completely new di-

mension. VR experience allows audience members to feel like they are actually in another place and as if they have become another person. It is a 360 degree view of a new world - our first Hyper reality game “GENESIS” has recently been launched in Tbilisi Mall, at “VR House” territory.

We work hard to inspire, create, and explore, introducing amazing possibilities of the VR technology. We are sure VR will fundamentally change the entertainment world. The VR technology is considered as one of the cutting-edge technologies holding endless possibilities in all fields of life and especially in the entertainment industry. We are at the forefront of the VR game development.

The market for the VR software and hardware has been steadily evolving: the research shows the growth from US3.7 billion in 2016 to 12.1 billion in 2018 with the prediction of growing up to 40.4 billion by 2020*. As one of the fastest growing industries, the VR technology is in the spotlight with a potential of becoming the leading tech industries in the coming years. VRium has entered the market with a strong product which is constantly developing.

Currently our company is on Seed capital stage and we are actively working on finding new experienced investors in VR field from all over the world. The technology we create is world standard and is improving permanently.

For more information please visit our web page: www.vrium.zone

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Giorgi Bochorishvili: PR is regarded as a modern profession, but it dates as far as the Ancient civilizations Interview with Giorgi Bochorishvili Head of Marketing and Department - Hualing Group Why did you decide to enter this field, and what kind of opportunities does this profession give you?

It’s a fast-paced industry with lots of change. If you like to have a variety of experiences, no routine lifestyle, public relations/marketing is an industry of unique opportunities to make your company’s/client’s mark. Depending on where you work, there’s a room for creativity, relationship-building, learning and growth both professional and personal.

What is it necessary to hold successful communication with public?

Telling truth in simple ways – is always advantage – and in order to be successful you have to identify steps: goal, target, message, media and professionals.

What three tips would you offer someone just starting out in PR? Be creative and open-minded, do not hesitate to overcome any obstacles you might face.

How would you prioritize and start your work day?

The end of a working day is perfect time for planning next day – so you already know what to do next morning.

What are the skills a Public Relations Specialist needs?

Combination of following skills will be a key factor for Successful PR manager: communication, social media, research skills; International prospective, time management and creative thinking.

What trait do you value the most in your co-workers?

These factors are crucial from my point of view: respect, discretion, responsibility, honesty and sense of humor.

What is the best PR practice technology can’t change?

Public Relations is often regarded as a relatively modern profession, only emerging in the past few decades. However, the reality is that, PR dates back as far as the ancient civilizations with Julius Caesar, and Cleopatra as the earliest figures of public relations in history. These practitioners had relished a massive PR success without internet or any

technology at their disposal.

PR in its earliest forms is all about press releases. Today, it has now rapidly transformed to include social media and other modern platforms to adapt to the fast-changing society. PR agencies are consistently finding new ways to establish connections to clients while the consumer base is becoming smarter and more involved.

What are some of the growing trends in the public relations industry?

The public relations industry has gone through an amazing transformation over the past 10-12 years.

The ever-changing nature of traditional media, emergence of new types of online media outlets, continued evolution of social media and the shift away from traditional media consumption has literally reformed the industry. With this, the way PR pros pitch stories will continue to evolve and we will need to work hard to find new ways to connect and make our clients relevant.

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Electronic Cigarette and Its Effect on Human Health – Interview with Professor Linda Bauld The effect that electronic cigarettes make on human health has become a subject of active discussions over the past period.

The Likar.info health information portal has published interview with Linda Bauld, the leading expert in tobacco consumption issues.

Linda Bauld is professor in health policy issues, she is a director of Social Marketing Institute, dean for Stirling University Research Department and deputy director of British Center for Examination of Tobacco and Strong Drinks.

In one of your articles published by the Guardian you have noted: I reaffirm that electronic cigarettes are much safer still than ordinary cigarettes. The word of “Still” has slightly confused me. Earlier, electronic cigarettes were deemed to be safe products, and now scientists have detected certain defects. Anyway, it remains better variant for smokers. Is it so?

Key reason why I have used the word of “Still” is the fact that in Great Britain and the USA we see that the number of people with incorrect perception and understanding of electronic cigarettes grows.

In 2013, 7% of adults in these countries believed that electronic cigarettes were as harmful as ordinary ones, in 2016 this indicator rose to 25% - number of people, who think that electronic cigarettes are as harmful as ordinary ones grows day to day. This growing misunderstanding has motivated me to use the word of “Still”…

That is not the case that the past period has revealed harmful effect that electronic cigarettes make on people smoking ordinary cigarettes. Naturally, we do not mean those who do not smoke cigarettes.

We should always deliver proper information to our society about our research works. It is clear that we should develop certain standards for electronic cigarettes: what substances should be used in manufacturing components of electronic cigarettes, what sort of tastes are admissible, which components may be used for “smoking” liquids and so on. I believe no technological problems will exist in this respect. In the course of time similar standards will be introduced definitely.

Having examined various research works in various countries, we made sure that electronic cigarettes are much safer than ordinary ones. However, despite various indicators, many people think that electronic cigarettes are worse than ordinary cigarettes. Similar situation is reported in Ukraine and in many other countries, for example in Australia. Why do people have fraud information about this product and who is guilty?

The problem you have raised has several reasons. First, tobacco is paralleled with nicotine and this is misunderstanding. For many decades (starting from the 1960s), incorrect messages were delivered to the society about smoking and this was mainly refereed to negative effect of nicotine. And now we realize that this was a

mistake. We were to talk about the harm from smoking, not nicotine. Another reason – dependence. Nobody argues that dependence on any product is harmful and it is not recommended to become dependent on anything. The third reason – electronic cigarettes are manufactured by leading tobacco companies, with which we (experts in tobacco policy and public health field) have constant “war” and therefore, consumers cast doubts on similar products. And the last reason – electronic cigarette seems like a genuine cigarette and the process of smoking similar device does not almost differ from smoking ordinary cigarette.

Let’s talk about Public Health issues.

According to the statistics, there are more than 1 billion smokers worldwide.

It is not secret that smoking causes heart and vessels diseases and some forms of cancer ( namely, lung cancer). In many interviews you stress that prevention of these diseases is efficient not on individual, but on public level. In the context of smoking, how can we change tobacco consumption policy and who should participate in this process?

It is evident that the Authorities should actively participate in this process.

Ukraine has signed tobacco control framework convention. Under this convention, they have made serious progress, but Ukraine should exert efforts for carrying out the smoking harm reduction policy to decrease risks of such smoking-related diseases.

Any country, including Ukraine, should motivate smokers to give up smoking.

There are certain correlation between smoker adults and smoker children, when adults give up smoking, adolescents follow their example (or do not start smoking at all). If the Authorities understand and accept similar policy, then they should open door to safer alternative of ordinary cigarettes. Naturally, this does not signify that we should remove restrictions on advertising of tobacco products and we should carry out special tax policy in relation to tobacco manufacturers.

However, we genuinely need alternative, at least for those smokers, who cannot give up smoking in terms of physical aspects. I believe that this is a decisive moment in tobacco consumption policy.

Don’t you think that persuasion of smokers to move to electronic cigarettes may cause a growth in number of smokers? For example, a person, who has never smoked a cigarette and has no intention to do so, hears information that electronic cigarette is safer by 95% than ordinary cigarette. Is there probability that he/she will try it?

Thanks you for the question. Initially, I genuinely was afraid of this moment, because I have been fighting against smoking for 20 years. However, the statistics proves different reality. In our country, Great Britain, this product is sold without restrictions starting 2010.

The country practices quite liberal regime in relation to electronic cigarettes.

As a result of

7-year continuous research, we have found that only 0.5% of nonsmokers have started smoking electronic cigarettes. A part of adolescents make experiments in relation to electronic cigarettes (about 12% according to our estimations), but only a small part of them continues smoking electronic cigarettes (no more than 1%).

It should be noted that we have fully banned advertising of this device in Great Britain. Only place, where adults and children are able to see electronic cigarettes are stores. It is important that aggressive campaign should not be carried out against electronic cigarettes. Our goal is that smokers start smoking electronic cigarettes.

Let’s imagine situation that ordinary cigarettes have disappeared and all smokers have started using electronic cigarettes. What are you expectations for such pathological diseases that are related to smoking (namely, lung cancer)?

First of all, we should understand that smokers who give preference to electronic cigarettes have a certain history of smoking ordinary cigarettes. Therefore, harm effects from ordinary cigarettes remain. If we idealize the situation that you have described, disease risks will decline at colossal scales. For example, lung cancer diseases will be reduced by 95%.

Naturally, electronic cigarettes are harmful too, maybe electric cigarettes also develop lung cancer, lung chronicle obstructive and blood vessels diseases, because smokers breathe in a smoke when using this device, and this smoke contains certain chemical substances and flavor. The harm caused by electronic cigarettes cannot be equalized to the harm caused by ordinary cigarettes (harm is reduced by 95% for various classes of harmful substances), however, we cannot submit specific figures yet, because a lot of people should be examined for proper and valuable research, people, who have never smoked and then started smoking electronic cigarettes (and similar persons are very few).

Since electronic cigarette is a new product and no many research works have been carried out regarding electronic cigarettes, is it possible that in the future this product will be recognized as harmful?

I can assure you that electronic cigarette is much safer. Standards are another issue… Nicotine extraction system is improved year to year. Responsible Authorities and researchers should jointly work on standards of similar product to make it maximally safer for consumers.

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Business News Government to Fund Honey Processing Plant Construction in Gori

Schuchmann Wine to Produce Georgian Vinegar and Balsamic

A honey processing plant will be built in Gori with the financial support of Government. The plant will manufacture homogeneous honey and export product to foreign markets.

Schuchmann Wines Georgia company plans to launch production of vinegar and balsamic, the company director general Nutsa Abramishvili told BM.GE. Geostat: Men more Frequently Own Assets than Women According to the research on Ownership of Assets in terms of Gender, men own assets more frequently than women.

Ratio of owners of residential spaces is the highest one among all assets.

OPPA Electronic Wallet – New Brand Entered Georgian Digital Market

New Direction of Tourism Fashion-Tours Launched in Georgia

New brand ”OPPA” entered Georgian digital market with the mission- to introduce modern electronic culture of money management and settlement in Georgia and make it easier for people to perform monetary transactions.

“Georgia starts working on Fashion-tours,” Tea Agladze, editor-in-chief of “Bomondi” talked at business morning and noted that fashion is no longer an entertainment industry and plays an important role as for the country’s economic growth,it also promotes tourism development.

Silk Road Group Starts Collaboration with Chapman Taylor Silk Road Group has completed negotiations with the leading global architects and masterplanners Chapman Taylor.

Stamba is Among Telegraph’s Best Hotels Ratings Stamba was rated 9 out of 10 at Telegraph’s Best Hotels rating.

Schuhmann Wines Georgia Started Producing Wine Cosmetic Line The company “Schuchmann Wines Georgia” started producing wine cosmetic line, in particular the company produced grape seed oil and scrub from Saperavi grape seed.

Well that Never gets Lost – Fully Presents GPS Wallets Wallets startup Fully will offer innovative product to Georgian market. GRS wallet will notify users about their loss, which is connected to mobile app and sends signals in case wallet and mobile phone are too far away from one another.

Georgian Wine and Alcohol Company Presented a New Premium, Cultic Wines “Vardisubani”, “Akura” and “Artana” - these are the new premium wines, presented

by Georgian wine and spirits company GWS on June 23.

The company presented a collection of premium wines at “Colors Of Georgia” baroque style grandiose event, which was held in the yard of one of the oldest wine factories in Telavi. that are of higher quality than the premium wine. Baroque, in general, is a Portuguese words meaning a pearl. That is why we decided our main theme of the event to be Baroque. These wines are truly special and need to be drank at special occasions”, said Keti Kenkishvili, GWS Ambassador. resentatives of GWS foreign partners, diplomatic corps and trade chambers. One invited guest included the French Ambassador Pascal Menie.

Members of the National Wine Association, Telavi Mayor, local municipality, government and business sector representatives, media and oth-

hosted the guests.

“I think people are aware of the potential of Georgia in terms of wine production, and we wanted this line of wine to be totally unique. Today, we achieved everything. This line is a collection of best wines. We present GWS’s genuine treasure, three varieties of wine “Akura”, “Ardana” and “Vardisubani””, said Philippe Lepsi, GWS Executive Director.

“I really like the atmosphere of the event and the new collection of wine and I’m always glad to come here and taste such delicious wine,” said the actress Eka Chkheidze.

In the open air, the guests gathered in “The Garden of

event. The wine business representatives from France, China, Ukraine and Russia were also the event. GWS Executive Director Philippe Lespi

Sweets” for the third consecutive year to be acquainted with GWS new wines. “The wine is delicious, I am glad that Georgian production is expanding, and I’m always supporting any

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will always support it,” said Goga Chanadir, a photographer at the

GWS’s new wines.

Georgian traditional dancing group, Mariko Ebralidze and Levan Maspindzelashvili added a theatrical and colorful atmosphere with music to the mood of the event.

The invited guests enjoyed the new wine line of the company and the pleasant atmosphere. works.

In 2016, the company marked the 40th anniversary of the factory, where the brand “Vismino” was presented. The event also included tour and product tasting. Last year, guests visited “Bakhus Celebration” and tasted “Tamada’s Great Reserve and Kvevri”.

The purpose of the event was to restore the tradition of making timber, wine, and pleasure enjoying it – make it alive and modern, and feel how they

celebrated Bakhus centuries ago and how they celebrate it in the 21st century.

GWS is one of the oldest and well-known wine factories in Georgia, which was established in 1993 in Telavi and was created on “Telavi 2” base, the oldest wine factory dated to 1976. Nowadays, “GWS” owns 350 hectares of vineyards. Most of the vineyards are 15-25 years old. Of these, 280 are red grapes and the remaining 120 belong to white varieties. 70% of Georgian traditional grape varieties are produced, and 30% are international varities. The company produces wine, sparkling wine and high alcoholic products, known as Tamada, Old Tbilisi, Admanti, Vismino and Elibo. Soon, customers will be able to enjoy wine produced using biotechnology methods from the company’s vineyards.

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World News

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Turkey’s Erdogan Focuses on New Cabinet Structure President Recep Tayyip Erdogan and his top aides have begun working on drafting the new government structure and the next cabinet in line with the new executive-presidential system as it will enter into force after the president will take his oath on July 8.

Small and Medium-sized Business Cluster to be Established in Azerbaijan

Asian Stocks Mixed Over Befuddling US Trade Stance

The authorized capital of the Agency for Small and Medium Business Development of Azerbaijan will be doubled in 2019-up to 10 million manats, says the decree of Azerbaijani President Ilham Aliyev on the approval of the Agency’s Charter.

Asian markets were mixed on Thursday, as White House statements on trade left investors divided on whether the administration was interested in soothing tensions with China.

New brokerage firm to be set up in Armenia to replace Norfolk Consulting A new brokerage firm will be set up in Armenia to process commercial cargo and to replace Norfolk Consulting, David Ananyan, the head of the State Revenue Committee said today, adding that the government will also have a share in it.

Russian investments in Azerbaijan’s economy exceed $4B

Most Expensive City for Expats Revealed

Russian investments in Azerbaijan’s economy exceeded $4 billion, and there are more than 759 companies from Russia operating in Azerbaijan, Chairman of Azerbaijani Parliament Ogtay Asadov said.

Hong Kong is back in top spot as the most expensive city to live in the world as an expat, according to research. The city of skyscrapers had dropped to second place last year behind Luanda, the capital of Angola.

France’s Macron brings back national service The French government has introduced a plan to bring back national service for all 16-year-olds.

It was an idea put forward by Emmanuel Macron in his presidential campaign, to promote a sense of civic duty and national unity among French youth.

Farnborough Airport becomes world’s first carbon neutral business airport

Affiliate Event Series Set to Return to Europe

To achieve carbon neutral status, an airport must have mapped its carbon emissions, reduced CO2 emissions under its direct control, engaged with others on the airport site to reduce their emissions and invested in responsible and credible programmes to offset residual carbon emissions.

The Affiliate Grand Slam series is all about relationship-building in the best possible environment for deal-making handshakes. Great relationships are at the very centre of the affiliate sphere in iGaming.

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15 July 2, 2018 #244 Embassy United States of America Embassy 11 Balanchivadze St., Dighomi Dstr., Tbilisi Tel: 27-70-00, 53-23-34 E-mail: tbilisivisa@state.gov; askconsultbilisi@state.gov United Kingdom of Great Britain and Northern Ireland Embassy 51 Krtsanisi Str., Tbilisi, Tel: 227-47-47 E-mail: british.embassy.tbilisi@fco.gov.uk Republic of France Embassy 49, Krtsanisi Str. Tbilisi, Tel: 272 14 90 E-mail: ambafrance@access.sanet.ge Web-site: www.ambafrance-ge.org Federal Republic of Germany Embassy 20 Telavi St. Tbilisi Tel: 44 73 00, Fax: 44 73 64 Italian RepublicEmbassy 3a Chitadze St, Tbilisi, Tel: 299-64-18, 292-14-62, 292-18-54 E-mail: embassy.tbilisi@esteri.it Republic of Estonia Embassy 4 Likhauri St., Tbilisi, Tel: 236-51-40 E-mail: tbilisisaatkond@mfa.ee Republic of Lithuania Embassy 25 Tengiz Abuladze St, Tbilisi Tel: 291-29-33 E-mail: amb.ge@urm.lt Republic of Latvia Embassy 16 Akhmeta Str., Avlabari, 0144 Tbilisi.

E-mail: embassy.georgia@mfa.gov.lv Greece Republic Embassy 37. Tabidze St. Tbilisi Tel: 91 49 70, 91 49 71, 91 49 72 Czech RepublicEmbassy 37 Chavchavadze St. Tbilisi ;Tel: 29167-40/41/42 E-mail: czechembassy@gol.ge Web-sait: www.mzv.cz Japan Embassy 7 Krtsanisi St. Tbilisi Tel: +995 32 2 75 21 11, Fax: +995 32 2 75 21 20 Kingdom of Sweden Embassy 15 Kipshidze St. Tbilisi Tel: +995 32 2 55 03 20 , Fax: +995 32 2 22 48 90 Kingdom of the Netherlands Embassy Pixel Center, 34, Ilia Chavchavadze Ave. 3rd floor Tel: +995 32 227 62 00 People’s Republic of China Embassy 52 Barnov St. Tbilisi Tel: 225-22-86, 225-21-75, 225-26-70 E-mail: zhangling@access.sanet.ge Republic of Bulgaria Embassy 15 Gorgasali Exit, 0105 Tbilisi, Georgia Tel: +995 32 291 01 94; +995 32 291 01 95 Fax: +99 532 291 02 70 Republic of Hungary Embassy 83 Lvovi Street, Tbilisi Tel: 39 90 08; E-mail: hunembtbs@gmail.com State of Israel Embassy 61 Agmashenebeli Ave. Tbilisi Tel: 95 17 09, 94 27 05 Embassy of Swiss Confederation’s Russian Federation Interests Section Embassy 51 Chavchavadze Av., Tbilisi Tel: 291-26-45, 291-24-06, 225-28-03 E-mail: RussianEmbassy@Caucasus.net Ukraine Embassy 76-g Chavchavadze Ave., Tbilisi Tel: 231-11-61, 231-14-54 E-mail: emb_ge@mfa.gov.ua Consular Agency: 71, Melikishvili St., Batumi Tel: (8-88-222) 3-16-00/ 3-14-78 Republic of Turkey Embassy 35 Chavchavadze Ave., Tbilisi Tel: 225-20-72/73/74/76

embassy.tbilisi@mfa.gov.tr Consulate General in Batumi 9 Ninoshvili Street, Batumi Tel: 422 25 58 00 consulate.batumi@mfa.gov.tr Republic of Azerbaijan Embassy Kipshidze II-bl . N1., Tbilisi Tel: 225-26-39, 225-35-26/27/28 E-mail: tbilisi@mission.mfa.gov.az Address: Dumbadze str. 14, Batumi Tel: 222-7-67-00; Fax: 222-7-34-43 Republic of Armenia Embassy 4 Tetelashvili St. Tbilisi Tel: 95-94-43, 95-17-23, 95-44-08 Kingdom of Spain Embassy Rustaveli Ave. 24, I floor, Tbilisi Tel: 230-54-64 E-mail: emb.tiflis@maec.esRomania Embassy 7 Kushitashvili St., Tbilisi Tel: 38-53-10; 25-00-98/97 E-mail: ambasada@caucasus.net Republic of Poland Embassy Oniashvili str. 24, Tbilisi Tel.: +995322 920398; Fax: +995322 920397 Email:tbilisi.amb.sekretariat@msz.gov.pl Web-site: www.tbilisi.polemb.net Republic of Iraq Embassy Kobuleti str. 16, Tbilisi Tel: 291 35 96; 229 07 93 E-mail: iraqiageoemb@yahoo.com Federative Republic of Brazil Embassy Chanturia street 6/2, Tbilisi Tel.: +995-32-293-2419 Fax.: +995-32-293-2416 Islamic Republic of Iran Embassy 80, I.Chavchavadze St. Tbilisi, Tel: 291-36-56, 291-36-58, 291-36-59, 291-36-60; Fax: 291-36-28 E-mail: iranemb@geo.net.ge United Nations Office Address: 9 Eristavi St. Tbilisi Tel: 225-11-26/28, 225-11-29/31 Fax: 225-02-71/72 E-mail: registry.geo@undp.org Web-site: www.undp.org International Monetary Fund Office Address : 4 Freedom Sq., GMT Plaza, Tbilisi Tel: 292-04-32/33/34 E-mail: kdanelia@imf.org Web-site: www.imf.ge Asian Development Bank Georgian Resident Mission Address: 1, G. Tabidze Street Freedom Square 0114 Tbilisi, Georgia Tel: +995 32 225 06 19 E-mail: adbgrm@adb.org; Web-site: www.adb.org World Bank Office Address : 5a Chavchavadze Av., lane-I, Tbilisi, Georgia ; Tel: 291-30-96, 291-2689/59 Web-site: www.worldbank.org.ge Regional Office of European Bank for Reconstruction and Development Address: 6 Marjanishvili St. Tbilisi Tel: 244 74 00, 292 05 13, 292 05 14 Web-site: www.ebrd.com Representation of the Council of Europe in Georgia Address : 26 Br. Kakabadze, Tbilisi Tel: 995 32 291 38 70/71/72/73 Fax: 995 32 291 38 74 Web-site: www.coe.ge Embassy of the Slovak Republic Address: Chancery: 85 Irakli Abashidze St. Tbilisi, 0162 Georgia Consular Office: 38 Nino Chkheidze St. Tbilisi, 0102 Georgia Phone: 2 222 4437, 2 296 1913 e-mail: emb.tbilisi@mzv.sk European Investment Bank Regional Representation for the South Caucasus Address: 1,G.Tabidze Street, Freedom Square

Phone: +995 322 006284 Embassy of The Republic of Korea 12, Titsian Tabidze Str. Tbilisi 0179, Geogia Tel: (995 32) 297 03 18; 297 03 20; Fax: (995 32) 242 74 40; Email: georgia@mofa.go.kr Hotels in Georgia TBILISI MARRIOTT Tbilisi , 13 Rustaveli Ave. Tel: 77 92 00, www.marriott.com COURTYARD MARRIOTT Tbilisi , 4 Freedom Sq. Tel: 77 91 00 www.marriott.com RADISSON BLU HOTEL, TBILISI Rose Revolution Square 1 0108, Tbilisi Tel: +995 32 402200 radissonblu.com/hotel-tbilisi RADISSON BLU HOTEL, BATUMI Ninoshvili Str. 1, 6000 Bat’umi, Georgia Tel: 8 422255555 http://radissonblu.com/hotel-batumi SHERATON METECHI PALACE Tbilisi , 20 Telavi St. Tel: 77 20 20, www.starwoodhotels.com HOLIDAY INN TBILISI Business hotel Addr: 1, 26 May Square Tel: +995 32 230 00 99 E-mail: info@hi-tbilisi.com Website: http://www.hi-tbilisi.com RIVER SIDE HOTEL With incredible service and views Addr: Mari Brosse street turn, Old Tbilisi.

Tel: +995 32 2242244; +995 32 2242288 Fax: +995 32 2 242277 Email: info@riverside.ge Website: www.riverside.ge Restaurants CORNER HOUSE Tbilisi, I. Chavchavadze ave. 10, Tel: 0322 47 00 49; Email: contact@cornerhouse.ge RESTAURANT BARAKONI Restaurant with healthy food.

Georgian-European Cuisine Agmashenebeli Alley 13th Phone: 555 77 33 77 www.barakoni.com CHARDIN 12 Tbilisi , 12 Chardin St. , Tel: 92 32 38 CAFE 78 Best of the East and the West Lado Asatiani 33, SOLOLAKI 032 2305785; 574736290 BREAD HOUSE Tbilisi , 7 Gorgasali St. , Tel: 30 30 30 BUFETTI - ITALIAN RESTAURANT Tbilisi , 31 I. Abashidze St. , Tel: 22 49 61 DZVELI SAKHLI Tbilisi , 3 Right embankment , Tel: 92 34 97, 36 53 65, Fax: 98 27 81 IN THE SHADOW OF METEKHI Tbilisi , 29a Tsamebuli Ave. , Tel: 77 93 83, Fax: 77 93 83 SAKURA - JAPANESE RESTAURANT Tbilisi , 29 I. Abashidze St. , Tel: 29 31 08, Fax: 29 31 08 SIANGAN - CHINESE RESTAURANT Tbilisi , 41 Peking St , Tel: 37 96 88 VERA STEAK HOUSE Tbilisi , 37a Kostava St , Tel: 98 37 67 BELLE DE JOUR 29 I. Abashidze str, Tbilisi; Tel: (+995 32) 230 30 30 VONG 31 I. Abashidze str, Tbilisi

Tel: (+995 32) 230 30 30 BRASSERIE L’EXPRESS 14 Chardin str, Tbilisi Tel: (+995 32) 230 30 30 TWO SIDE PARTY CLUB 7 Bambis Rigi, Tbilisi Tel: (+995 32) 230 30 30 Cinemas AKHMETELI Tbilisi. “Akhmeteli” Subway Station Tel: 58 66 69 AMIRANI Tbilisi. 36 Kostava St. Tel: 99 99 55, RUSTAVELI Tbilisi. 5 Rustaveli Ave. Tel: 92 03 57, 92 02 85, SAKARTVELO Tbilisi. 2/9 Guramishvili Ave. Tel: 8 322308080, Theatres A. GRIBOEDOV RUSSIAN STATE DRAMA THEATRE Tbilisi. 2 Rustaveli Ave. Tel: 93 58 11, Fax: 93 31 15 INDEPENDENT THEATRE Tbilisi. 2 Rustaveli Ave. Tel: 98 58 21, Fax: 93 31 15 K. MARJANISHVILI STATE ACADEMIC THEATRE Tbilisi. 8 Marjanishvili St. Tel: 95 35 82, Fax: 95 40 01 M. TUMANISHVILI CINEMA ACTORS THEATRE Tbilisi. 164 Agmashenebeli Ave. Tel: 35 31 52, 34 28 99, Fax: 35 01 94 METEKHI – THEATRE OF GEORGIAN NATIONAL BALLET Tbilisi. 69 Balanchivadze St. Tel: (99) 20 22 10 MUSIC AND DRAMATIC STATE THEATRE Tbilisi. 182 Agmashenebeli Ave. Tel: 34 80 90, Fax: 34 80 90 NABADI - GEORGIAN FOLKLORE THEATRE Tbilisi. 19 Rustaveli Ave. Tel: 98 99 91 S. AKHMETELI STATE DRAMATIC THEATRE Tbilisi. 8 I. Vekua St. Tel: 62 59 73 SH. RUSTAVELI STATE THEATRE Tbilisi. 17 Rustaveli Ave. Tel: 93 65 83, Fax: 99 63 73 TBILISI STATE MARIONETTE THEATRE Tbilisi. 26 Shavteli St. Tel: 98 65 89, Fax: 98 65 89 Z. PALIASHVILI TBILISI STATE THEATRE OF OPERA AND BALLET Tbilisi. 25 Rustaveli Ave. Tel: 98 32 49, Fax: 98 32 50 Galleries ART GALLERY LINE Tbilisi. 44 Leselidze St. BAIA GALLERY Tbilisi. 10 Chardin St. Tel: 75 45 10 GALLERY Tbilisi. 12 Erekle II St. Tel: 93 12 89

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