Caucasus Business Week #268

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April 8, 2019 - www.cbw.ge

#278

WEEK

p.4 Gambling without Restrictions

p.3

p.5

Air France makes Inaugural Paris-Tbilisi Flight, Wizz Air makes Inaugural Flight Gdansk-Kutaisi

p.6 Inflation 2018 – Price Growth Dynamics in Georgia and Neighboring Countries

p.7 From Oligarchy to Democracy

Report by the US Department of State – a Headache for Georgian Law Enforcers, National Bank and Commercial Banks

p.11 ‘Pink Space’ - Center for Oncopatient Assistance opens in Tbilisi

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Agreement on Air Traffic between Georgia and Saudi Arabia signed Deputy Minister of Economy and Sustainable Development, Akaki Saghirashvili, within the frames of the visit to Saudi Arabia, signed an Agreement on Air Traffic between the Government of Georgia and the Government of the Kingdom of Saudi Arabia.

PWC: National Bank has Duly Imposed 1 million GEL Fine on TBC Bank PWC (Price Waterhouse Coopers) explains that the National Bank of Georgia (NBG) has duly imposed a fine on TBC Bank.

Mamuka Khazaradze and Badri Japaridze quit Board of TBC Bank

Georgia’s Gross External Debt exceeds 7.4 Billion USD The gross external debt of Georgia amounted to 17.8 billion USD (47.5 billion GEL) as of 31th of December 2018. It accounted for 109.6 percent of the last four quarters’ GDP.

Skills Development will be Key to Attracting Investment to High-Value Sectors in Georgia — ADB Skills development will be essential in leveraging Georgia’s enabling business environment and facilitative infrastructure for higher foreign investment and growth, according to a new Asian Development Bank (ADB) report.

Currency exchange Offices in Georgia had Turnover of 9 Billion GEL in 2018 9,189,600,000 billion GEL entered in the exchange offices of Georgia in 2018. According to the data provided by National Statistics Office of Georgia (Geostat), during this period exchange offices have earned 12,700,000 GEL overall. Data also suggests that 6,700,000 individuals have used this service, which means that.

Giorgi Arveladze was appointed as Managing Director of Corporate Business Development in TBC Bank Giorgi Arveladze was appointed as Managing Director of Corporate Business Development in TBC Bank, who will also supervise Research and Brokerage in TBC Capital.

Mamuka Khazaradze and Badri Japaridze quit Supervisory Board of JSC TBC Bank.

Air France launched its First Flight in Tbilisi The first direct flight to Tbilisi by the French national airline, the AIR FRANCE was performed at the Shota Rustaveli Tbilisi International Airport. President Salome Zourabichvili was the First Passenger of the first direct flight, which also brought French tour operators, bloggers and journalists to Tbilisi.

Genadi Arveladze: Further Georgian Products are introduced at EU Market and This Trend will continue Deputy Minister of Economy and Sustainable Development, Genadi Arveladze delivered a speech at the EU-Georgia Parliamentary Association Committee at the European Parliament in Strasbourg, where the Deputy Minister talked about the progress and challenges in the process of the implementation of Deep and Comprehensive Free Trade Area Agreement (DCFTA).

European School Summer Camp 2019 to gather Youth from Eastern Neighborhood in Georgia Young people from the EU and its six Eastern Partner countries (Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine) are invited to apply for the European School Summer Camp 2019, which will take place in Georgia from 16 to 30 August.

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;

Air France makes Inaugural Paris-Tbilisi Flight, Wizz Air makes Inaugural Flight Gdansk-Kutaisi

The French flag carrier Air France has made its inaugural flight from Paris to Tbilisi on March 31, with Georgian President Salome Zourabichvili being among its first passengers.

A reception ceremony was held to celebrate the inaugural direct ParisTbilisi flight by Georgian President Salome Zourabichvili, the Minister of Economy and Sustainable Development George Kobulia, the Director of the United Airports of Georgia, George Chogovadze, Vice-President of Corporate and Travel Agencies Sales at Air France-KLM SĂŠbastien Guyot,

representatives of the private sector, as well as French tour operators, bloggers, journalists and representatives of the tourism and aviation industries.

President Salome Zourabichvili addressed the audience with her welcome speech, noting that a new stage of Georgia-French relationships had started with the inauguration of the new direct line.

Air France will be carrying out regular flights between Charles de Gaulle Airport in Paris to the Tbilisi Shota Rustaveli Airport twice a week with an Airbus A 320. (Flights will arrive in Tbilisi on Wednesdays and Sundays; Flights to Paris will take place on Mondays and Thursdays.)

AIR FRANCE is one of the largest and oldest airlines in the world, which was founded on December 7, 1933 and is still successfully operating in more than 200 destinations. The French state airline is one of the founders

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of the global airline alliance - the SkyTeam. According to 2016 data, the airline employees 84 thousand people worldwide.

This week was very significant for Georgian aviation industry. There was another tremendous event at Kutaisi International aiport.On April 2, David Agmashenebeli Airport has celebrated Wizz Air's first flight from Gdansk to Kutaisi. Passengers of the inaugural flight received welcome gifts - Georgian wine and donuts from Dunkin' Donuts.

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Gambling without Restrictions Turnover in Gambling Business Exceeds 10 billion GEL Over the past years, the gambling sector has become a growing and attractive business sector. Georgian society is aware of a lot of negative practical effects from Ludomania (addiction to gambling). Gambling games are one of the leading industries in Georgia. Maybe not in your own family, but you will definitely find several people among your relatives or friends who are addicted to gambling games. The issue is not cards, backgammon, domino or other, similar games, but the matter is gambling games, where people lose a lot of money.

Revenues from the gambling business have been growing at an astronomic pace, and this fact shows how huge funds are spent on gambling games in Georgia. For instance, the turnover of companies in the gambling industry has increased 133 times over in the past 10 years. Namely, in 2009, the gambling business’ turnover was 74.7 million GEL, and the figure amounted to 1 billion GEL in 2012 and 5 billion GEL in 2017. The figure exceeded 10 billion GEL in 2018. As for more detailed indicators: 2006 – 30.1 million GEL, 2007 – 64.9 million GEL; 2008 – 70.7 million GEL; 2009 – 74.3 million GEL; 2010 – 112.7 million GEL; 2011 – 366.6 million GEL; 2012 – 996 million GEL; 2013 – 1.213 billion GEL; 2014 – 2.032 billion GEL; 2015 – 3.890 billion GEL; 2016 – 4.036 billion GEL; 2017 – 5.649 billion GEL. Under the current legislation, a casino license in Georgia costs 5 million GEL, but exclusive tariffs apply to certain territories where the annual license fee makes up 250,000 GEL – Batumi, Gudauri, Bakuriani, Borjomi and others. The aforementioned preferences on the mentioned territories aim to promote tourism.

As for budget payments, the sector

pays only an unimportant part of its real incomes, about 6%. In 2017, the gambling business paid 332 million GEL (including all taxes, duties + general state taxes), while sector turnover constituted 5.650 billion GEL. In 2018, the sector paid 136.5 million GEL to the state, up 17 million GEL compared to 2017. Funds that the sector paid to

the state budget in 2018: a tax on slot machines – 75 million GEL; a tax on the lottery – 5 million GEL;

commission fees for starting an electronic game – 13.2 million GEL, tax on casino tables – 41.3 million GEL. The funds that the gambling business has paid to the state budget over the past 5 years: 2018 – 136.5 million GEL; 2017 – 119.5 million GEL; 2016 – 73.3 million GEL; 2015 – 68.9 million GEL; 2014 – 64.9 million GEL. It is worth

noting that this sector employs about 6,000 persons.

The gambling business has money laundering risks, too.

Namely, according to the 2012 Moneyval report, amid the growing gambling games market in Georgia, the absence of information on suspicious deals means that organizers of gambling games do not pay due

attention to the monitoring of financial transactions.

For many years, the

gambling games sector in Georgia is mentioned in annual reports of the US Department of State as a money laundering gap in Georgian legislation. “The rapid growth in the gambling games industry in Georgia and a lack of monitoring of money laundering creates preconditions for confusion. About 140 gambling networks operate in the country”, the report reads.

At a glance, everything is clear.

In poor countries, citizens play gambling games to receive incomes, not for entertainment. However, in the end, they become poorer, and the addiction to gambling games aggravates their problems. In this situation, the authorities should either completely ban gambling games, like Azerbaijan and other Islamic countries, or introduce restrictions in this sector, like the European and America practice, to alleviate damage from the gambling games sector, and increase budget revenues. But nothing has changed for many years in this direction.

Seven years ago, for the first time, the Georgian authorities started discussing regulating the gambling business, and they decided to make amendments to the Law on Lotteries, Gambling and Winning Games, and tighten regulations. The parliament of the 2012 convocation used to frequently discuss this issue, but no real bill was introduced.

The parliament of the 9th convocation has brought up the issue again, and set up a special working group of parliament members and Finance Ministry officials. In November 2017, the group finished working on the bill, but its adoption was protracted.

Therefore, it is unknown when the parliament will make amendments to the legislation.

Even the extremely negative mood in our society could not inspire parliament members to curb the gambling industry. According to social surveys, 92% of our citizens have negative attitude to this industry, and 63% of them back a full ban it and 29% want to impose restrictions on the industry.

Even recommendations by the Patriarch of Georgia could not advance the issue. Therefore, it is unknown when the Parliament will decide to tighten legislation. Before playing gamblers go to games to earn money, we should remember that the casino always wins.

By Merab Janiashvili

Report by the US Department of State – a Headache for Georgian Law Enforcers, National Bank and Commercial Banks The US Department of State has published a 2018 report on drug control international strategy, where the Georgian case is concerned.

The second part of the report covers money laundering and financial crime, and details the major part of illegal revenues relates to swindling in bank transactions, cybercrime, and the illegal appropriation of money.

“There is a domestic market for illegal drugs in Georgia, and drugs transit route also crosses this country. The Georgian government cannot control Russian-occupied South Ossetia and Abkhazia, and these territories cannot be monitored. Georgian law enforcers have to pay more attention to exposing connections with organized crime and money laundering. Georgian law enforcers should develop a tactical approach to help monitoring information exchange and cooperation between the corresponding bodies,” the report reads.

Illegal revenues basically come from swindling and cybercrimes.

“Georgia-based banking institutions are used for making money transfers from one jurisdiction to another. Frequently, these transactions are carried out through forged documents or trading information. Georgia-based commercial banks try to attract nonresident depositors, and a lot of offshore companies”, the report reads.

According to economic expert Akaki Tsomaia, this statement by the US Department of State signifies that they have specific evidence and this is an alarming situation. Seemingly, Georgia is considered a country with potential for money laundering. Money legalization in offshore companies is not a rare practice in Georgia, Akaki Tsomaia explained.

For instance, the suspension of Progress Bank. According to behindthe-scenes information, Progress Bank was involved in money laundering schemes. The legalization of illegal money, which was carried out through offshore zones, is a genuine problem, because the US Department of State registered similar cases in its reports, and this means that we have an alarming situation.

I do not rule out that this is a deep-rooted process, and that’s why this case has been mentioned in the report of the US Department of State. There is always fertile ground for illegal revenues in a fragile, developing, unstable country. This problem was always relevant in Georgia, but this problem had been never reported by the US Department of State. And why now? We can suppose that these crimes are lobbied today by government officials in Georgia.

Seemingly, the US Department of State has obtained this information and made a similar, strict statement, Tsomaia said.

Financier Temur Basilia says that the US Department of State has provided quite critical, but unbiased appraisals. Regretfully, all these critical assessments have real grounds.

According to the report, various international money transactions are carried out throughout Georgian banking institutions by use of forged documents. The issue also relates to suspicious relations with nonresident depositors and offshore companies, Temur Basilia noted.

“When talking about the banking sector, this criticism refers not only to the National Bank of Georgia (NBG) and the Georgian authorities, but also the owners of Georgian commercial banks. We know that major stakeholders of major Georgian commercial banks are famous international organizations and financial institutions. This means that these major stakeholders represented by major influential international organizations, and cannot or do not control the management of Georgian commercial banks, who, according to the report by the US Department of State, make unlawful transactions.

The silence kept by NBG and the Georgian Banks Association regarding this issue means that they do not have arguments with the relevant accusations. Therefore, the question is: what will the NBG do to dismiss these accusations, and neutralize the criminal element,

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and will it do anything at all? The same question may be asked of the authorities regarding other critical aspects, Basilia said.

Investors analyze such reports, and similar critical reports cannot persuade them to make investments in this country. Therefore, the NBG and the authorities in general should take bold steps to eradicate the aforementioned problems, as the investors’ confidence depends on these decisions, he said.

Irakli Iashvili asserts that it is not a crime when Georgia-based commercial banks take efforts to attract nonresident depositors, and many offshore companies. In this case, commercial banks should be banned from opening bank accounts to nonresidents, and this is the wrong way, Iashvili noted.

“This is a mechanism for attracting long-term assets. There is nothing criminal in the case of short-term transactions with correct papers, contracts and invoices. This is the practice adopted around the world. However, if the transactions are money laundering, and this is confirmed by evidence, this is another issue. Commercial banks have inspection bodies, and there are international organizations, too and they will definitely react to similar cases.

If commercial banks detect something suspicious, they must notify law enforcement. The US Department of State has included this issue in its report, and this is a signal for Georgian law enforcement to show more attention to factors preventing illegal transactions, and money laundering attempts, Iashvili said.

In general, this report means that there were a lot of transactions, which raised questions at the US Department of State, Iashvili added.

“If they warn us, and they have detected questionable circumstances, supposedly, there are genuine grounds for suspicion. Therefore, we should analyze assessments by the US Department of State with more attention, because these appraisals have an influence on the reputation of Georgia. At the same time, this does not mean that we should cease international transactions”, Iashvili noted.

Businessman, the former top bank manager Lasha Papashvili notes regarding the report by the US Department of State, and says that Georgian law enforcement, the NBG and commercial banks should make conclusions from the part of the report where the Georgian case is analyzed.

“When the US Department of State points to signs of criminality, various government offices should provide the necessary reaction to save the reputation of our country”, Lasha Papashvili noted.

In response to the questions about whether the report accuses top managers of Georgia-based commercial banks with promoting criminal banking transactions, Papashvili noted: “The report indicates that Georgia is located in a region which is crossed by international trafficking and narcotrafficking routes.

This is a global problem, and the USA knows this issue very well.

We should make a corresponding analysis of this report if we want to shape a genuine banking system hub in the region and make the country an arbitration center”, Papashvili said.

INF L A TI O N 6 April 8, 2019 #278

Inflation 2018 – Price Growth Dynamics in Georgia and Neighboring Countries Inflation and Incomes – Price Growth Dynamics in Georgia and Neighboring Countries Growing prices and declining purchase value: in this respect, all three South Caucasian republics have recorded almost the same indicators. According to Geostat, the national statistics service of Georgia, the 2018 annual inflation rate in Georgia was at 1.5%.

During the reporting year, prices on food products and soft drinks rose compared to 2017. For instance, the price of fish products increased by 11.1%, the price of bread and bread products rose by 8.5%, the price of meat and meat products increased by 4.5%.

Compared to 2017, in 2018, Georgian citizens paid 3.1% more money for water, natural gas and electricity. Fares have also risen by 1.7%.

The price for the exploitation of personal vehicles rose by 3.4%.

Prices in the healthcare sector increased by 2.9%.

An analysis of prices on various products shows that over the past 2 years, the price of cigarettes rose by 45%. Specialists explain that cigarette prices increased as a result of an increased excise tax. Over the past 2 years, the petrol price increased by 25%-26%. Specialists asserts that, according to their analysis, a higher excise tax has raised the petrol price, too. According to official statistics, starting with in 2006, prices of consumer goods and services in Georgia increased by about 50%. In this period, the prices of goods and services in the healthcare sector rose by 79%. Food product prices increased by 69%, and the prices in the education sector rose by 64%.

Inflation, first of all, lowers the purchasing value of incomes. Based on the above-mentioned statistics, products that cost 1000 GEL in 2006, now can be bought for 1500-1600 GEL. Comparatively higher inflation rate was registered in Azerbaijan.

According to Geostat, prices of consumer goods and services increased by 2.3% in the country in 2018.

Compared to 2017, in 2018, prices on food products, beverages and tobacco products rose by 1.7%. Non-food products saw a 2.6% upturn in prices. It is interesting that the 2017 annual inflation rate in Azerbaijan was at 12.9%. Specialists assert that similarly high inflation rates derive from the current challenges in the oil and gas industry of Azerbaijan. Because of the comparatively lower oil prices in 2017, Azerbaijani economic growth made up only 0.1%.

In this respect, the 2018 also seems modest, as the state economy in Azerbaijan grew only by 1.4% in 2018.

As for Armenia, according to preliminary forecasts, in 2018 the annual inflation rate exceeded 3%, but the real indicator fared better.

According to the statistical service of Armenia, the annual inflation rate in 2018 made up 2.5%.

This indicator is worse for Armenia than Georgia and Azerbaijan.

However, the difference is unimportant. According to official statistics, consumer prices in Armenia rose by 2.5% in 2018 and amounted to 4.5% for non-food products.

Armenia’s economic growth in 2018 made up 5.2%, and average salaries saw a 1% contraction. According to official statistics, GDP per capita in Armenia is 4,186 USD.

By Zurab Khachapuridze

7 April 8, 2019 #278

rom Oligarchy to Democracy Ukraine is getting ready for a presidential runoff vote, where a TV personality and comedian Vladimir Zelenski will compete with the current president Petro Poroshenko.

The existing situation in the country shows how political and economic systems differ in the post-Soviet countries.

If we do not recall eastern dictatorial regimes, only 3 varieties of oligarchy will remain to discuss - Russian, Georgian and Ukrainian.

There is the erroneous perceptions that Vladimir Putin, having come to power, removed the oligarchic system and built a dictatorial regime of the eastern style. This is untrue.

Oligarchs never went extinct. They maintain crucial political influence, manage whole regions, hold media agencies, have representatives in regional bodies of the authorities. Under the rule of Vladimir Putin, the rules of the game were changed, and oligarchs were unconditionally subordinated to the supreme power. Staying devoted to Putin and the system, and you have full freedom in action.

The Georgian oligarchic model is absolutely different. The country is governed by an oligarch personally through his servants; however, unlike Russia, in Georgia, there are no signs of despotism. There is no dictatorial system, media agencies are not closed, political parties are not persecuted, and suffrage is not infringed.

The system under Bidzina Ivanishvili is not an axe – this is a marshland, where all anti-government initiatives sink, without violence and repressions.

There is no other oligarch in Georgia like Ivanishvili. The business sector in Georgia, even major business companies, do not strive to control the country. Domestic millionaires do not own media agencies, do not control political parties, and cannot control state institutions. Their political activity is focused on the the preservation in the Parliament of their business interests,

nothing more.

Consequently, Georgia is a mono-oligarchic country, where only one person spends money and resources to maintain power.

And the third model – Ukrainian. This is a poly-oligarchy system in practice.

There are several oligarchs, like Bidzina Ivanishvili in Ukraine, who possess almost the same amount of financial resources, media organizations and agencies. The most powerful oligarchs permanently struggle with each other, and use their own TV channels to this end. They control political parties and presidential candidacies. In practice, they govern the country. If Zelenski wins the elections, not Zelenski himself, but Igor Kolomoiski is supposed to rule the country in practice.

Naturally, it is not out of the realm of possibility that one of the elected presidents show disobedience to the oligarch.

However, after this decision, he will become an ideal target – all financial resources, mass media, domestic government – and this giant system will work to “spoil” him, and he won’t be able to do anything. Finally, the next election will come, and he will be defeated.

Discussion of these 3 systems does not lead one to excessive optimism.

Changes are absolutely ruled out in Russia as Putin remains in the power. Considering that he looks healthy and vigorous, he is expected to rule Russia for many years still.

The Georgia-based “mono-oligarchy” has its own advantages – it is comparatively democratic; it does not oppress freedom of speech, and follows comparatively honest rules of play. Strong centralization creates the preconditions for shaping wellfunctioned state institutions and establishing order in the country.

At the same time, today it is almost impossible to change power in the country.

The value of consolidated property of all Georgian businessmen is lower than the property of Bidzina Ivanishvili.

Consequently, he will always manage to

buy the number of votes that he will need in elections, even more so as there are no other buyers of votes.

Naturally, the time will come when these methods will not work any more, but nobody knows when this will happen, and what situation in the country will exist.

Ukrainian poly-oligarchy is an absolute antipode of the Georgian system. There are several oligarchs, like Bidzina Ivanishvili, and none of them hasfull leverage over governance, and this factor weakens the state and hinders the shaping efficient institutions. Even today, the weakened and volatile Georgian state is stronger than Ukraine, while the economy of Ukraine is stronger and more diversified than the Georgian.

At the same time, the fragility of the ruling [power and permanent competition between oligarchs greatly simplifies the process of changing power.

In one word, no system works properly.

Nothing changes in Russia for decades. The system seems to be working in Georgia, somehow, but universal civil heroism is required to change the authorities. As for Ukraine, it is easier to change power, but efficiency of these changes is zero – one oligarch goes, another comes, and nothing changes in the end.

The 30-year history of post-Soviet period has shown that there is no other model for progress than democracy. Without democracy both Georgia and Ukraine will remain among the outsiders.

By Tengiz Ablotia

8 April 8, 2019 #278

Tornike Guruli: "Marketer represents User’s Voice in the Organization" Interview with PSP Pharma’s Marketing Director , Tornike Guruli.

Tell us about how you got into the field of marketing, and what factors played an important role in choosing this profession?

I graduated from University with a focus on PR, in Georgia. Then, I continued to study in Germany, as strategic communication was always interesting to me. I passed my doctoral studies in business, and my dissertation’s theme was in marketing. I liked the field of communication, and I did not think much about choosing a profession. I chose what I liked.

In regards to technological changes, what challenges do you face as the head of a marketing service?

We live in an era when the user has great power. If only mass media could disseminate information, the user has the power of social media networks. Consequently, each customer's satisfaction is of the utmost importance. Anyone can communicate with the broad public about the brand, so it is very important to analyze user experience.

What has changed in the field in the last 5 years, and what changes are expected now?

The role of influencers in strategic communication has become very important. This direction has evolved well, abroad, and we are catching up with that. Specialist literature is also being written. Three types of influencers are described in the literature: 1.Celebrities 2. Vloggers 3. Experts in the field, who write and care about the user's education. In the future, this direction will be dramatically developed. In the past five years, the print media has changed sharply. If they do not own online resources, they only go on a very narrow segment, which is no miracle for the marketers.

Facebook groups are becoming influential.

A large number of people join in different groups, and receive information from other people. The majority of companies will plan future communication campaigns on these groups as the segmented group will be available and information will spread to relevant people.

What important features should a marketing manager focus on, and what are their roles in an organization?

Marketing Managers must be communicative, and should always be ready to receive the news. Marketing in the organization is always a user's voice. The user and its experience are important for each organization’s development. If we listen to the

details, and provide an analysis of experience, it will help us in development.

What steps did you take, as an organization, to catch up with new trends, and use innovative approaches in the field of marketing?

Most of what I do. I read professional online publications. I also watch trend setting media regularly. I'm also busy teaching and constantly preparing for every lecture.

I am trying to do this in every lecture, bring something new and interesting to my students.

And that's important; I constantly try to keep track of the user's behavior. I'm constantly trying to find out what the customer needs. If you're a marketer, you should go to the subway, and the market, to know the people's consumer behavior and lifestyle, and not only your own decisions.

er. A permanent care for consumers and experts The pharmacists and consultants are prerequisites,and we are leaders in the pharmaceutical market today.

One word that describes your job.

There’s only one idea: care for the customer.

The most useful advice you’ve ever received in life?

This advice does not only apply to marketing, but also to develop managerial skills.

Previously I was working in a German organization, and the teacher taught me: never make a decision with a hot head. It's better to think about it, sleep it through, and then analyze the situation, make the decision the next day, and stand behind this decision.

What’s your organisation’s business model, in terms of marketing?

Think of a person who inspires you professionally.

We are a service brand. As you know, there are product brands and service brands. There are mixed ones, but mainly brands are in these two directions. PSP’s service is a brand. Consequently, it is very important for us to focus on the custom-

David B. Fischer.

9 April 8, 2019 #278

Business News

First mechanized Parking Opening in Georgia

branch of the company in Georgia.

Five Secondary Schools to launch Programming Lessons in September 2019

The first two-stage mechanized park opening in Georgia was held on Wednesday, at King David’s multifunctional complex.

Starting September 2019 pupils of five secondary schools will be able to learn computer programming grounds, based on the worldwide recognized textbook – Hello Ruby.

Georgian Actress Vika Kalandia to play in Netflix Series

Cafe Erti Kava opens in Tbilisi after Successful Business in Mestia

Georgian actress Vika Kalandia will take part in new series of Netflix.

British director Peter Weber and Salome Kalandia jointly produce the series for streaming services.

Georgian Wine exports Increased by 10%

Café – “Erti Kava” (One Coffee) opened in Mestia by Ukrainian and Russian girls is expanding after two years from opening, and the branch is already being opened in Tbilisi.

In the first quarter of 2019, 19,4 mil. bottles (0,75l) of wine have been exported to 37 countries worldwide, that is 10% higher than the similar data of 2018. Exported wine income amounted to 47 mil. USD, that is 16% higher than the data of the previous year.

Phubber: Digital Shopping in Georgia Phubber – This is a digital platform that enables to make the things useless for others useful for us and this is the place, where any person can sell useless things and buy a new one.

Majorel Georgia Office opened in Kutaisi

GPI Holding announces another Increase of Share Capital by GEL 4.5 Mln During the last two years share capital increase was implemented twice – in total the capital was increased by GEL20mlnand and now amounts to GEL32mln.

Fitch affirms Tegeta Motors at ‘B-‘; Withdraws Rating Fitch Ratings has affirmed Georgian auto parts company Tegeta Motors LLC’s Long-Term Issuer Default Rating (IDR) at ‘B-‘ with Stable Outlook. The rating has simultaneously been withdrawn.

A new office of Majorel Georgia opened in Kutaisi. After Tbilisi, this is the second

Qvevri-Shaped Hotel to be built in Telavi Hotel “Qvevri” will be built in the village of Shalauri in Telavi. The main goal of the hotel is to popularize Georgian wine and culture.

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‘Pink Space’ - Center for Oncopatient Assistance opens in Tbilisi The Pink Space Center for Oncopatient Assistance has been opened in Tbilisi. Pink Space represents a joint project of Europe Dona Georgia and the Avon Foundation, the purpose of which is to provide psycho-social support for oncopatients, increase their awareness of treatment financing issues, and promote the seeking of the right medication.

Pink Space is an open door for patients dealing with breast cancer diagnoses. The Pink Space staff are made up of patients who themselves have overcome such illnesses, and they will help guide oncopatients in how to

register with the relevant state programs, how to get aid for certain medical services and will give advice on other issues. Because Pink Space was created for charitable purposes, all consultations are free of charge.

The Pink Space Hotline allows oncopatients living in the regions to get full information from the center. The Center itself is at 10 Pekini Street and is open Monday - Friday, from 10:00 to 18:00.

Pink Space is funded by Avon’s Pink Ribbon charity fund. The money received from every charity product sold by Avon is collected in the Pink Ribbon fund and is used for various

initiatives in the fight against breast cancer. In 2019, the Avon Foundation allocated 50,000 GEL, which will be fully utilized to run Pink Space.

Europe Dona Georgia is an organization headed by former patients who help other patients to overcome this severe disease. Europe Dona Georgia’s mission is to protect the interests of women with breast cancer and to aid their access to high quality healthcare services based on the guidelines, in order to achieve a decline in cases of breast cancer deaths and increase in recovery rates countrywide.

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