Green Business 2013 by The FINANCIAL

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29 April, 2013

Oil

New poll reveals continued decrease in “Green” attitudes and behaviors since 2009

see on p. 5

3 out of 5 People in Developing Countries Lack Safety Nets see on p. 4 Around 8.5 million parttime workers in the EU27 wished to work more hours see on p. 3 Potential of Wind Energy in Georgia Awaiting Use

see on p. 10

On Caucasian Plumbers

any countries in the Caucuses and Eastern Europe have great deficiencies in access to hot water and flushing toilets. Georgia has among the worst hot water penetration, and is also near the bottom of the list for toilets. This is according to a 2010 poll conducted by Georgian Opinion Research Business International and partners. Continued on p. 10

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Energy Efficiency is Common Ground for Business Survival

see on p. 3

What is your Digital Personality? The FINANCIAL

our distinct new "digital personalities" are emerging. This shift is compelling companies to adopt more innovative business models that deliver personalized experiences.The "Beyond Digital"

study by IBM, paints a portrait of a rapidly changing audience that is adopting a wide range of digital devices at a dizzying pace. And, contrary to popular belief, most are not college students. Continued on p. 15

RBS biggest lender to renewables projects in the UK

see on p. 13

Georgia Becoming Eco-Destination The FINANCIAL

he Georgian National Tourism Agency (GNTA) will be starting intensive work to develop eco-tourism in September 2012. This is one of the most profitable tourism directions in Georgia and at the same time the poten-

Frank Klobucar

Georgian website

Environment

see on p. 13

The Boston Consulting Group Finds That Time to Market Varies Greatly Within Industries

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tial of the country in this regard is significant. In total Georgia is expecting 3.5 million tourists in 2012 and Maia Sidamonidze, Head of the GNTA, predicts that eco-tourists will make up quite a large share of the total number.

Continued on p. 8

Developing World Lags on Global Targets Related to Food and Nutrition The FINANCIAL

he developing world’s progress is seriously lagging on global targets related to food and nutrition, with rates of child and ma-

Caucasus Region Facing Climate Change Problems See on p. 16

ternal mortality still unacceptably high, says the Global Monitoring Report 2012, released today by the World Bank and the International Monetary Fund. Continued on p. 5

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Current prices on gasoline and diesel Prices in GEL

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KhachapuriIndex by Giorgi Machavariani and Florian Biermann

KHACHAPURI INDEX

aster is coming on Sunday, the lent will be over, and the families will be celebrating together by breaking the red-painted eggs and enjoying traditional Georgian dishes – of course including khachapuri. Therefore it is time to go to the bazaar and start buying all necessary ingredients. Which prices will await us there? Bad news for those living in Telavi: the average price for a standard khachapuri at the end of April stands at 3.31 GEL, which is 4.0% higher than in March. The increase is due to the rise of the butter prices (1.1%), yeast prices (4.4%) and, most of all, cheese prices (9.6%). The geography of cheese prices in Georgia is a mystery. Our various economics professors, holding doctoral degrees from the leading universities in the world, are puzzled! While cheese prices were soaring in Telavi, they fell significantly in three other cities from our survey: Tbilisi (-16.4%), Kutaisi (-15.2%) and Batumi (-14.3%). And from the point of view of a khachapuri producer, this is by no means an irrelevant side aspect. These cheese prices were main factor of driving the average prices for khachapuri downward in these cities! Making one standard khachapuri in Tbilisi, Kutaisi and Batumi will cost you only 2.96 GEL (-9.2% compared to previous month), 2.83 GEL (-8.5%), and 2.79 GEL (-7.7%), respectively, but 3.31 GEL in Telavi! But what about eggs? Since eggs are one of the most important ingredients during the Easter holidays, we are glad that average prices for eggs have slightly decreased compared to March 2013 in all four cities: Tbilisi (-0.2%), Kutaisi (-2.7%), Batumi (-1.5%) and Telavi (-0.7%). We expect khachapuris all over Georgia to become cheaper, except for Telavi (see the Chart), where in future they will arguably contain more

eggs and less cheese. Will this trigger a new tradition of khachapuri production? Will there from now on not only be Imeretian Khachapuri and Migrelian Khachapuri, but also “Telavi Egg Khachapuri”? Bon appetite and a great Easter feast to everybody!

ECONOMIC LESSON OF THE WEEK:

FISCAL

TRANSPARENCY Would you like to buy in a supermarket where the supermarket owner decides what you will get for your money after you made the payment? Such a supermarket would arguably not attract many customers. Yet although this is an odd allegory, a good deal of our consumption we all make in exactly this way – and we are even forced to buy! We pay taxes to the government, and afterwards politicians decide what we get for this money. Sellers serving private customers have to deliver value for money. You won’t buy a second time in a grocery store if the food was spoiled or the package you bought turned out to be empty. Public services, however, you cannot to retrieve from another government, at least as long as you do not emigrate to another country. Okay, we do not have the freedom of choice -- but shouldn’t we nevertheless demand value for tax money from the government in the same way as we demand good services from private suppliers? For evaluating whether or not the government has spent its money reasonably, political decisions – and in particular budgeting decisions – must be made transparently. How transparent is the government budgeting of Georgia? The International Budget Partnership (IBP) is a non-government-organization funded by several major US donors, like the Open Society Institute and the Ford Foundation. They IBP collects information on budget transparency in 100 countries and summarize their findings in a country ranking. In 2012, the top five countries in this ranking, scoring

81 or more points on a scale from 0 to 100, were New Zealand, South Africa, the United Kingdom, Sweden, Norway, and France. Then there are 17 countries with a score between 80 and 61. In this group are, among others, the United States, Russia, India, and Spain. Georgia is closely below this group with a score of 55 points. With this performance, Georgia ranks 33 among the 100 countries and it does better than Ukraine (53 points) and much better than Argentina and Turkey (both 50 points). The bottom 52 countries score on average just 24 points, showing that Georgia is pretty transparent in its budgeting.

THE ADVANTAGES OF TRANSPARENCY Citizens have some degree of discretion when it comes to paying taxes. In many cases, taxes can be avoided without substantial risk of detection. For example, it is essentially up to taxi drivers in Tbilisi whether or not they report their income correctly, as nobody but themselves records their earnings. Likewise, it is difficult for the government to keep track of the revenues of small vegetable sellers that can be found everywhere in Tbilisi. Of course, there are more sophisticated ways to avoid tax payments than just not handing out receipts, and the bigger the taxable income is, the higher are the incentives to become creative about this. However, as it turned out, people do not cheat on the government as much as they can. Indeed, the level of tax avoidance is far below what we would expect under the paradigm of homo oeconomicus. In 2010, it was shown by the UK economist Sanjit Dhami (who was frequently teaching at ISET in Tbilisi) and his coauthor Ali AlNowaihi that a model of bounded rationality can explain the observed levels of tax evasion much better than classical economics. A similar argument is made by the Swiss economists Bruno S. Frey and Benno Torgler in a 2003 paper. They provide empirical evidence for their hypothesis that tax morale is very much a function of the tax payers’ perceptions of the

Khachapuri Prices, May-2011 - Apr-2013 Tbilisi 4,2 4,0 3,8 3,6 3,4 3,2 3,0 2,8

2,6 2,4

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April 2013

Communication manager: Eka beridze Phone: (+995 577) 57 57 89 Photo Reporter: KHATIA PSUTURI

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29 April, 2013, Georgia

Khachapuri Index is exclusively provided to The FINANCIAL by ISET

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Telavi

legitimacy of the government and its budgeting decisions. In other words, a citizen of New Zealand, who can see clearly how his tax money is used, is voluntarily paying more taxes than somebody in a country where the budgeting process is rather a “black box”. If this is true, then increasing budget transparency can actually raise the government’s tax revenues. Another important advantage of transparency is that it makes corruption more difficult. The level of detail on which the budget is reported plays a significant role. A corrupt politician who intends to divert public funds into his own pocket has to hide these funds by ballooning budgetary items, and the more fine-grained the composition of the budget is, the more difficult it is to balloon anything without attracting attention. Similarly, the supervision of the budget by citizens and the media increases the truthfulness of the reported numbers -- decision makers want to avoid the suspicion that something might be fishy, and they will therefore try to avoid grey areas and expenditures for unclear purposes. Then there are also purely economic advantages resulting from budget transparency. For example, it may mitigate the negative effects of an economic crisis by reducing the uncertainty of the public about government responses. If it becomes clear that the government will increase its expenditures in order to counter the economic slowdown (the so-called “deficit spending” of Keynes), consumer confidence and business confidence may be reestablished faster than if people are ignorant about the government’s willingness and potential to act. More generally, budget transparency allows the citizens of a country to monitor and assess government decisions, creating incentives for the government to make use of its resources responsibly. Therefore fiscal transparency can promote the general quality of expenditures and it can make the resource allocation more efficient, leading to more growth and economic development. Part of the development of Georgia into a mature civil society is that citizens take responsibility not only for their families, friends, and colleagues, but also for the society as a whole. No Georgian should be indifferent about how tax money is spent, as Georgian tax money belongs to the Georgian people. If money is spent inefficiently, this should be a concern to everybody. If, even worse, public money is diverted to private pockets, the whole population should feel victimized. This requires identification with the society as a whole, as otherwise an individual citizen may not simply not feel that he/she fell victim to theft, as the damage is shared by so many. For increasing the level of budget transparency and utilizing on its various advantages, the starting point is the attitude of every single citizen of this country.

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Ministry of Environment to Start Inspecting Enterprises from May 2013

Khatuna Gogaladze, Minister of Environment Protection of Georgia

The FINANCIAL By Madona Gasanova

athering manure from local villages and developing compost from it, to be used as valuable fertiliser in agriculture, the landfill business and Clean Development Mechanism (CDM) - are a short list of profitable businesses which so far remain underdeveloped in Georgia, a country with a high rate of unemployment. “We should try to increase the business community’s interest in environmental issues, in line with achieving the country’s development,” Khatuna Gogaladze, Minister of Environment Protection of Georgia, told The FINANCIAL. The effects of environmental degradation on the economy are massive. Because its air and water is polluted, China is losing between 8 and 15 percent of its gross domestic product. And that doesn’t include related health costs. Gogaladze said that responsibility for environmentally friendly behaviour is not adequately acknowledged by the private sector, although she remains optimistic that companies will soon realise its effects and benefits. In her interview with The FINANCIAL, the Minister underlined the alarming impact global warming is having on our environment and the measures needed for adapting to this. Q. Georgia is characterized by a large number of eco-migrants. Which regions are the most affected by this and how are you combating it? A. Georgia belongs to one of the most difficult regions in terms of spreading natural geological and hydro-meteorological processes and the damage caused by them. Extreme appearance of the processes is then followed by the displacement of local populations. The regions of Adjara, Racha-Lechkhumi-Kvemo Svaneti, Samegrelo-Zemo Svaneti and Mtskheta-Mtianeti are the most affected in this regard. Over 60,000 families have relocated from the above-mentioned regions during the past 50 years. Government structures are responsible for checking the houses in certain zones and making the decision if necessary to relocate the inhabitants to more sustainable territories. The National Environmental Agency of the Ministry of Environment carries out an annual monitoring survey, which is compiled on the

basis of a newsletter. It is then sent to relevant government agencies. In addition, in a force majeure situation, problems are quickly assessed and appropriate recommendations for preventive measures are issued. Q. What is the budget of the Ministry of Environment Protection of Georgia for 2013? A. The amount that has been allocated for our Ministry from the government budget is GEL 21,240. Non-budget income is approximately GEL 15 million. Moreover, several millions are allocated within various grants. We are currently cooperating with international and donor organizations to attract additional funding. Q. What are your main priorities regarding environment protection? A. We have problems in various directions. Environment protection became a minor industry during the previous administration. Accordingly underlying concrete priorities is difficult. Implementing a forest management system via long-term licenses is far from the standards established in Europe. Our main objective is to introduce a European model, considering the existing realities and national interests. There is an urgent need to improve the legislation base. This process has already begun. In the past few months we have presented a legislative package with about 50 legal acts. Still a number of changes needed. Creating an effective environmental surveillance system is also very important. The institutional strengthening of the Ministry is among the most important tasks to be carried out. In this respect we are reorganizing the Ministry in order to extend our functions. The Ministry will start functioning with updated and enhanced functions in the nearest future. Q. How do you plan to control ecological problems? A. A unified system of state control service will start operating from 15 May, 2013. The Environmental Supervision Department, with 330 staff members, will include representatives of seven territorial authorities and the Black Sea Convention protection service. The territorial offices of the Environmental Supervision Service will mostly work in three directions: a) Inspecting enterprises on their fulfilling obligations regarding effects on the environment; b) Checking the terms and conditions of licenses to use natural resources; and c) Preventing the illegal use of natural

resources. Our main goal is to prevent as much as possible avoid negative impacts on the environment, through preventive measures. Q. Many new and existing city parks and squares have been opened and renovated in Georgia recently, however, there is still a lack of green spaces in Tbilisi. What is the number of trees that you plan to plant this year? A. Green cover needs constant upkeep and care. It is impossible to define a specific number of trees or other plants after which new vegetation will not need to be planted. In order to teach the next generation about the importance of planting trees, the Ministry of Environment initiated the campaign “Plant Your Future”. As a result of this campaign 22,000 trees have been planted throughout the country. The project involved governmental and non-governmental organizations, schools and universities, private companies and citizens. It is very important that every citizen should realise his/her role in their respective town, village, school, or own yard’s planting processes. Our citizens should appreciate and protect the environment the same as they would their own property. Q. Why is Georgian business not more actively involved in environmental protection? A. Environmental protection is a part of corporate social responsibility. Social responsibility is an area of ethical rather than legislative or other regulations. We are all well aware that increasing profit is the main interest of the private sector. Accordingly, businesses should be made to see the benefits from voluntary engagement in environmental activities. Such benefits do indeed exist for both direct (e.g. use of energy efficient equipment) and indirect (e.g. growth of prestige, competitiveness of their products) forms. This requires the enhancement of businesses’ awareness of the fact that the so-called ‘green approach’ can be profitable for them in the long run. There are many possibilities for the incidence of environmentallybeneficial activities in the private sector, for example, setting up a manure-processing facility in rural areas. By gathering manure from nearby villages one can extract methane and make compost from it. This is valuable fertiliser for agriculture due to the large amount of nitrogen it contains. On the other

hand, methane can be used as fuel for the operation of an enterprise, or for sale. In Japan, there are manure-processing plants, where the capturing - supplying processes are working perfectly from smallholders to factories. Landfills are another example of profitable business. They allow for the extraction of methane from municipal waste (the methane can be used as fuel), at the same time, paper, glass and even plastic bags can be recycled from the waste. The waste business is a very profitable business in developed countries. There are many similar examples, so we should try to increase the business community’s interest in environmental issues at the same time as achieving the country’s development. Q. Climate change is becoming an alarming problem globally. What risks is Georgia facing in this regard? A. Due to Georgia’s widely varied nature and landscapes, the effect of climate change is evident in many ways. Floods and droughts have become more common and intense in recent decades. Land degradation has increased in semiarid (semi-dry) areas due to rises in temperature. The threat of desertification has emerged. Significant changes are expected in the distribution of water resources as a result of melting glaciers. The temperature increase may cause problems for agriculture. Climate change affects human health as well. High temperatures lasting for long periods of time, so called ‘heat waves’ are especially dangerous to people with cardiovascular diseases. The most vulnerable areas of Georgia include the Black Sea coastal zone. A rise in sea-level is increasing flooding which is in turn endangering infrastructure. We are already witnessing the erosion of riverbanks. Avalanches, landslides and mudflows will become worse in mountainous areas as a result of pouring rain. Q. The German Chancellor Angela Merkel’s words on the environmental and financial crises were based on the same thing. To what extent do you agree with her? A. The unscrupulous use of cash resources and ignoring demands for financial transparency have been named the main causes of the financial crisis. Not uncommonly, similar problems can be found in companies’ activities in regard to ignoring environmental standards. In order to obtain more profit from investment environmental risk is often not completely evaluated or is not taken into consideration at all. The environmental damage caused by a company might be a serious blow to the company itself, as well as the country’s economy. The link between environmental and financial risks and the connections between them have been evaluated in the U.S. most objectively. As a result the U.S. has been the least affected during all the financial problems. The Government not only tightened control of business. In 2009 the National Association of Insurance Commissioners obliged companies to account for risks of climate change. Additional liabilities have been amalgamated in to insurance packages. Today, the U.S. is considered a leader in the development and implementation of this strategy. I think that a healthy ecosystem, wise use of natural resources and sustainable development are some of the most necessary conditions for long-term economic prosperity. Q. What are your main goals that you plan to accomplish while holding the position of Minister? A. Developing a strong environmental sector and ensuring human’s constitutional rights to live in a healthy environment.

GEL 16 Million Allocated for Greening Tbilisi in 2013 The FINANCIAL

By Mariam Papidze

total amount of GEL 16 million will be spent on renovating parks and squares, planting trees and greening Tbilisi this year by the Ecology and Greenery Department of Tbilisi City Hall. This year’s budget is slightly increased compared to last year’s when GEL 12 million was spent on projects implemented for the purpose of greening Tbilisi. The renovation and creation of more than 150 square metres of green space, forest cultivation in the area surrounding the capital city and online mapping of Tbilisi are the activities the budget’s money was spent on in 2012, according to the Ecology and Greenery Department of Tbilisi City Hall. “In addition, we cooperated with WWF (World Wildlife Fund), signed a three year contract and took on the responsibility of restoring 100 hectares of forest with the sponsorship of WWF,” Giorgi Korkashvili, Director of the Ecology and Greenery Department of Tbilisi City Hall, told The FINANCIAL. “We completed the rehabilitation of Mziuri in 2012. It was the most expensive project as the park covers a very large area, 40 hectares in total. The rehabilitation of Mziuri Park took GEL 3 million from the budget. The remaining work in Mziuri Park is the responsibility of a private investor, which will soon complete the works. According to the project proposal there will be a swimming pool and fitness centre in Mziuri Park. Another significant project was the renovation of the Botanical Gardens. There were elementary problems to be solved like building benches and providing the park with public conveniences. Cafés will be opened to give visitors the opportunity to enjoy spending more time in the area,” Korkashvili added. “The rehabilitation of Vake Park Continued on p. 11

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29 April, 2013 | finchannel.com

Wissol Developing Green Management The FINANCIAL By Tako Khelaia

ith the largest chain of petrol and CNG stations and with aviation fuel deliveries, Wissol Group is one of the leading players in the country’s energy sector and other industries too. In 2009 the Ministry of Environment Protection and Natural Resources granted Wissol status of a ‘Green Company’. “Being an oil company makes us care about the environment all the more, as our responsibility is higher than that of other types of companies. Caring for the environment means knowing the importance of having an ecologically clean environment in the country. Staying environmentallyfriendly is vitally important for all of us, our children’s futures as well as for the successful development of the country,” Pkhakadze said. A polluted environment causes different problems in terms of people’s health. It is our duty to protect health in the country. In sight of this we have plenty of events and activities that we hold on a regular basis. We have planted a large amount of trees in Tbilisi, Batumi and other regions. It has become a kind of tradition for us already and one which we organise with great enjoyment. We will continue doing this in the future as well. Our employees are actively involved in planting the trees, which is very important,” Pkhakadze said. Wissol is an exclusive importer of the latest European standard, Euro 5 Italian fuel from API. With ultra low sulphur content, API fuel practically eliminates emissions of sulphur compounds into the air. API fuel is therefore an ecologically clean product. “Euro 5 is of European quality and is therefore a standard which we implement in Georgia. According to the law of the country, we are not prohibited from importing Euro 3 fuel, but we want our customers to receive ecologically clean and high quality products. In addition our clients appreciate European standard fuel,” Pkhakadze said. “Wissol Group has always been exceptional in terms of the high sense of social responsibility it demonstrates. We have always been a dynamically active company in this direction and will remain so in the future. We have special rules at our company, which is, in

Dr. Samson Pkhakadze, President of Wissol Group

my view, a kind of self-discipline. We import ecologically clean products. We have many projects which support the fight against environmental pollution,” Pkhakadze said. “In terms of the very infrastructure of our gas stations, they are technologically constructed to harm the environment and the ecosystem as little as possible. We install special filtration systems which cause a reduction in emissions. These filters are replaced periodically. They give us the opportunity to keep our gas stations ecologically clean, and despite the fact that they are places that sell oil products, they are actually protecting the environment,” Pkhakadze said. From 2007 Wissol has been offering the environmentally-friendly Compressed Natural Gas (CNG) at its integrated service stations Georgia-wide. “Natural gas is the cheapest fuel and is ecologically clean. Natural gas is lighter than oil products and its emissions do not enter the soil or ecosystem. It dissipates in the air and is ecofriendly. Demand for it at gas stations

has increased significantly in recent times and we are planning to develop our CNG station network further still. We are therefore protecting nature and at the same time supporting those families who do not have the means to purchase oil,” Pkhakadze said. “The storage tanks at Wissol service stations are equipped with filters against oil evaporation and spills. Oil products are transported by a special fleet equipped with separate pipes for each six products available at Wissol and filters against oil evaporation. Also, the pump attendants at Wissol service stations are dressed in nonflammable clothing.” “We have environmentally-friendly lighting systems at our stations. We are now starting a special project in the Smart supermarket chains as well as in Wissol where we will use LED lighting. We are already starting to import LEDtype technologies from abroad to two of our stores.” At all Smart supermarkets customers can find a bio corner and enjoy healthy products by the German brand

Chevron Lubricants joins forces with Wissol Group Company to market Texaco brand lubricant products in Georgia

hevron Belgium nv/SA has reached an agreement with Georgia-based Wissol Group to market its Texaco-brand lubricant products to consumers in Georgia. The Chevron®, Texaco® and Caltex® brands are recognized worldwide for their quality, performance and technology and are used daily in passenger vehicles, trucks, buses and industrial machinery. “We are thrilled to announce this new agreement with Wissol Group,” said Chris Dyer, UK & Ireland/Export Sales Manager at Chevron Products UK Limited. “ Wissol Group’s network of service stations

and other sales channels will mean Texaco branded products will have a trusted and wide route to market, ensuring our customers are well served in the region.” The Wissol Group owns one of the largest chains of petrol and compressed natural gas (CNG) stations in the country, and will distribute Havoline passenger car engine oils and Techron fuel treatments to the consumer market, along with Ursa heavy duty commercial and off-road engine lubricants, and a full range of Texaco industrial products. “Reaching an agreement with the world’s leading energy company Chevron is one more very important achievement for Wissol Group”, - said Dr. Samson Pkhakadze, President of Wissol Group. “Furthermore, we are proud that with Chevron we share the same values for quality of our products and services and quest for success. Wissol is the leading player in the Georgian

oil sector and with Chevron premium class products in the portfolio we will lead the market for lubricants in the country as well”. Chevron is one of the world’s leading integrated energy companies, with subsidiaries that conduct business worldwide. The company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Wissol Group is one of the largest business groups in Georgia. With the widest chain of petrol and CNG stations and with aviation fuel deliveries, Wissol Group is the leading player in the country’s energy sector.

Bio Greno. “We have a very modern fitness centre in Kutaisi where we have a special solar energy system installed. We also try to save water and have a recirculation system. We are in contact with several large companies who work on energy saving systems and in regard to reducing our use of electricity we receive a sizeable grant from EBRD. We received EUR 90,000 from EBRD for this. As a result we are implementing several projects in the direction of energy efficiency.” According to Pkhakadze the company tries to keep as many documents as possible in electronic form which reduces paper consumption as well. Wissol traditionally celebrates 5 June, World Environment Day, encouraging the healthy lifestyle concept. Sports events are organized in cooperation with the United Nations Development Programme (UNDP) representation in Georgia and the Ministry of Environment Protection and Natural Resources. “It is vitally important for all com-

panies to care for the environment. We are a big company which carries out lots of projects and searches for investments. We are financed by such huge companies as EBRD and many leading financial institutions or commercial banks. We are partners of such famous companies as Total, Shevron, API and Wendy’s. When you are working with such companies you are responsible for abiding by the law and standards stated by them. Their contracts directly require us to care about the environment and being environmentally-friendly, so we have to do it,” Pkhakadze said. “Our company ethos is intertwined with social responsibilities. It’s the practice and culture of the company. All of our employees know that Wissol is a company which cares about its employees. CSR is not just charity. It is how you treat your staff, what kind of working conditions they have, how safe they are. We pay a great deal of attention to our relations with society. This is our culture. Everyone at our company knows that we should be a successful company in many directions and they share that philosophy with us,” Pkhakadze said. `With the successful business activities of Wissol Group, we want to contribute to the economic development of Georgia and social wellbeing of its population. Strong business in turn means employed people, technological and infrastructural development, highly professional human capital and sustainable development of the local economy. Besides, Wissol feels a responsibility for environmental protection and accordingly undertakes social investments, does charity and implements community projects for the well-being of society at large.” Since 2007 Wissol Group has been represented in the market by its daughter brands: Wissol Petroleum Georgia, Wissol Gas, Air Wissol, Wissol Gas Distribution Company, Car and tyre service chain Vianor Georgia, Construction Company Delta Holding, Real Estate Company Vellagio, Supermarket Chain Smart, Fast food restaurant chain Wendy’s Georgia, Football Club Torpedo Kutaisi, Fitness Centre Laguna Kutaisi, and Hotel Lomsia. Wissol is the only Georgian brand to be listed in the Top Ten European brands at the European Business Awards in Paris; Wissol was awarded an ISO Quality Management Certificate in 2006. Nowadays the company holds an ISO 9001:2008 certificate.

Wissol Group Expressed the solidarity towards the victims of Boston Explosion with Marathon

issol Group expressed the solidarity towards the victims of Boston explosion organizing Run for Boston marathon th on 20 of April at Turtle Late. The U.S. ambassador to Georgia Richard Norland joined the marathon and thanked participants for showing support to the victims of the tragedy. AmCham CSR Committee, Palitra Media, Aversi, Mineral Water company Sno, Tbilisi Marathon, Financial, PR Club and others joined the marathon with their teams in corporate T-shirts and condemned the violence with the 5-km distance running. Despite a rain tens of volunteers participated in the marathon

On 15th of April terrorist act was carried out at Boston marathon finish line killing 3 and injuring 176.

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green business BP HadSpent Over100 million USD On Its Corporate Social Responsibility Agenda in Georgia

29 April, 2013 | finchannel.com

The FINANCIAL By Mariam Papidze

P, one of the world’s largest energy companies operating in Georgia, is starting a new initiative of promoting Corporate Social Responsibility (CSR) in the country. For almost a decade BP has been implementing vast corporate social responsibility programmes in Georgia in two main directions. One, which is referred to as Community Development Initiative (CDI), supporting sustainable developmentin the communities living adjacent to the Baku-Tbilisi-Ceyhan oil , South Caucasus gas and Baku-Supsa oil pipeline routes, and the other programme,called Sustainable Development Initiative (SDI), supportsnationwide programmes. The SDI basically works in three main areas: enterprise development, energy efficiency and education targetingprimarily professional and vocational education. “There is no legal requirement in the country that wouldencourage companies to think and develop corporate social responsibility strategies. We are going to launch abaseline studyfor CSR activities in Georgia, which means that majority of large companies need to be interviewed. We very much want the top managers to be reached out, because they are the ones who decide whether they would like to continue investing in one-off, charitable eventsand sponsorships, or to start thinking in a sustainable way. The problem sometimes lies in human resources, because the companies may think - why should they invest in developing something more sophisticated, when there is an opportunity to give a one-off-

support? When a company comes into a person’s life, the company needs to build trust, and it is mucheasier to gaintrust by being socially responsible,” said Giorgi Gongliashvili, Sustainable Development Initiative program coordinator for BP in Georgia. “In order to achieve tangible results, we are thinking about a long-term project, something between five to eight years, and hopefully we will raise the awareness about CSR issuesand promote Georgian companies to consider supporting sustainable initiatives.We arecurrentlyin the process of selecting a consultant, that would carry out the baseline assessment and prepare some concrete recommendations for us, based on which we will launch the CSR project. We hope that in about a month’s time from now, the consultant will start itswork with the idea that towardsthe end of this year we will have the final project proposal, which we will be tendering out. The private sector has quite a lot of responsibility, as well opportunity to develop responsible Business in the country,” Gongliashvili added. Q. Out of the projects that BP has implemented in CSR and Green Business activities, which have been the most significant ones? From our perspective CSR projects are of more or less equal significance as they target long-term sustainable development. Our partners in various projects have been such international institutions asthe European Bank for Reconstruction and Development (EBRD), International Finance Corporation (IFC), GIZ (German International Cooperation Agency), USAID, Millennium Challenge Corporation (MCC), etc. Q. Could you please

Giorgi Gongliashvili, Sustainable Development Initiative program coordinator for BP in Georgia.

discuss the ongoing projects? A. Out of the current ongoing projects I would focus on the Project Management College (PMC) and the Renewable Energy and Energy Efficiency Project for Communities. We have started The Project Management College (PMC) at the Free University of Tbilisi with a gap analysis, interviewing more than 50 large Georgian companies, to determine where was the biggest gap that the companies felt during their day-to-day operations. The biggest majority of interviewed businesses named one particular area - project management,which was described as one of the weakest links. We then carried out a desktop research and found out that there is a company - ESI International Ltd., which isthe world’s leading

project management solutions’ company, which has been providing trainings for BP all over the world for a number of years. We invited this company and also identified a local partner - the Free University of Tbilisi - which is supporting this project through hosting the Project Management College at its premises, as well as through co-funding certain components of the project. As of today, more than 200 students have graduated from PMC during initial three years, receiving Master’sCertificates in project managementfrom The George Washington University School of Business. This is a highly popular project in Georgia. Another stream of students are currently studying there. The graduates have also the opportunity to undertake an exam to become Project

Management Professionals (PMP®), accredited by the world’s largest professional association of project managers - the Project Management Institute (PMI®). The second projectas I said is related to the renewable energy and energy efficiency sphere.It all started back in 2008 with the socalled “Energy Bus” Project. The idea wasthat there wasa big truck, which hadinside it a mobile exhibition of energy efficient devices, and this truck hadbeen travelling across Georgia. It made two full rounds,wherever it could physically reach due to itsvery large dimensions. As a result of this project, some 63 thousand people have visited the bus and become aware ofthe energy efficiency issues. We went further, and together with the EBRD, we have made a loan programme,consisting of a 6.6 million USD concessional credit line from EBRD fortwo commercial banks, TBC and Bank of Georgia, and of USD 1 million grant from BP and its Oil and Gas Partners, which was used tosubsidize the interest ratesforthe borrower. Wherever the Energy Bus was travelling, it was advertising this loan programme and the grant mechanism, which was in the range of 15 percent of the face value of any of the energy efficient device that a residential customer would install at his or her house. The Energy Bus project finished last year, however, we decided to continue our engagement in the energy efficiency sphere, and we initiated a new project - Renewable Energy and Energy Efficiency Project for Communities, under which we plan to implement about 20 demo projects across Georgia. We select community type of buildings, like kindergartens, schools, shelters for disabled persons, national protected areas, etc.,

and implement small-scale energy efficient measures, e.g. we change old windows with double-glazed ones, we insulate the space, replace ordinary old stoves with modern and energy efficient ones, replace old ordinary bulbs with fluorescent ones, etc. These measures significantly improve the living conditions of the mentioned community buildings, providing substantial savings on energy-related bills, and also reducing CO2 emissions for the benefit of our environment. So far, we have implementedeight projects in the eastern part of Georgia. In the nearest future, we will select the community buildings for the western Georgia as well. These are tangible demo projects that could be easily replicated in any other communities, should there be enough resources. Maybe a food for thought for the possible CSR activities for Georgian companies? Q. What are the fundaments to BP’s sustainability as a business in Georgia? A. People and their capabilities are fundamental to BP’s sustainability as a business. To build an enduring business in Georgia, the company recognizes the need to develop the skills and experience of local people, creating an environment, which provides opportunity for all staff. We aim to ensure that our presence in Georgia, and wherever we operate, creates mutual advantages for us and for those with whom we come into interaction. In Georgia, our focus will be to help protect our partners’ asset base and overall investment by retaining the goodwill and supporting the work of key stakeholders - communities adjacent to ourfacilities, government and NGO sectors,as well asthe local business community.

Optimistic Pessimists Frank Klobucar GORBI

here are a lot of people in and around Europe who say that their countries’ economies are not doing so well. Some of these people are sure their bad luck will continue, while others, like Georgians, think that next year will be a year of recovery. All the data in this column come from Georgian Opinion Research Business International’s most recent wave of the EU Neighborhood Barometer poll. It was carried out in conjunction with TNS Opinion and aimed to discern the attitudes of the peoples that live in Europe’s “neighborhood.” Specifically, we asked respondents in Eastern Europe and the Caucasus about their attitudes and predictions for their country’s current and future economy. The tables that are included in this article represent not the most pessimistic and optimistic countries in general, but rather these two groupings from those least satisfied with their current situation. I’ll first talk about the most pessimistic five, and then on to the most optimistic. Current Economic Situation Good Bad DK

Economic Situation in the Next 12 Months Better

Same

Worse

Top 5 Pessimistic Countries Lebanon

91%

0% Lebanon

15%

16%

67%

Moldova

19% 79%

2% Moldova

26%

30%

34%

10%

Ukraine

16% 78%

6% Ukraine

17%

37%

35%

11%

Armenia

27% 72%

1% Armenia

21%

38%

31%

10%

Belarus

39% 50% 11% Belarus

24%

41%

22%

13%

Top 5 Optimistic Countries Georgia

21% 75%

4% Georgia

64%

17%

14%

Tunisia

20% 79%

1% Tunisia

46%

31%

21%

Egypt

29% 61% 11% Egypt

46%

10%

40%

Jordan

36% 62%

2% Jordan

41%

19%

32%

1% Palestine

35%

28%

34%

Palestine 37% 61%

Among the countries that are the least happy with their current situation, Lebanon is by far the least. A full 91% say the current state of affairs is bad. The closest runners-up in this category are Moldova and Ukraine, where 79% and 78% express discontent, respectively. Where the Lebanese’s negativity truly stands out, though, is in their predictions for the future. Two thirds of the country believe that the next twelve months will only be worse. This means that at minimum, more than half the country thinks that the economy is bad

going to worse. The remaining countries in this category are not so much pessimistic as they are lacking in optimism: none of them can boast that even a third of their citizens are hopeful for the future, but the plurality of each country thinks things will stay the same, which is to say bad. Looking at the five most dissatisfied-yet-hopeful countries, Georgia is by far the leading optimist, where 64% foresee a brighter future and only 5% disagree. This is a good thing, considering a full three quarters said the current situation was not so great. The only optimistic country with a worse case of the economy blues is Tunisia; 79% of Tunisians gave a “stuffs-notso-great” response, but 46% had a “it’ll-get-better” prediction. All the data in this article have margins of error of around 3.5% with 95% confidence. Visit our website at gorbi.com for more articles.

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Georgian Businesses Competing on the European Business Awards RSM Capto Group:

“Tangible Progress Soon To Be Felt in Georgia”

GEL 16 Million Allocated for Greening Tbilisi in 2013 Continued from p. 3

The FINANCIAL By Madona Gasanova

ive Georgian companies already applied for the European Business Awards, which since 2007, has been shining a light on the most innovative businesses on the continent by promoting success, innovation and ethics in the European business community. For last year programme, over 15,000 businesses were involved from 28 countries across Europe although Georgia was not among these countries. RSM Capto Group became a leading sponsor of the European Business Awards (EBA) which is partnering The FINANCIAL since 2010. Zviad Pochkhua, Editor-in-Chief of The FINANCIAL is also one of the judges of the EBA. In his exclusive interview with The FINANCIAL Kvinikadze, Managing Partner at RSM Capto Group, the ninth largest firm of financial and tax audit, tax consulting, accounting outsourcing services and evaluation in Georgia, underlined the advantages that the EBA can bring to businesses and gave his outlook on the current situation in Georgia and its prospects. “Right now Georgia is in a period of transition and the new government needs time for its changes to be felt by businesses. To some people it may appear that the fast train that was the Georgian economy has slowed down, but I am confident that this train will be showing increased speed and efficiency soon,” Kvinikadze, told The FINANCIAL. Kvinikadze is optimistic that Georgia will soon impress the rest of the world with its fast and effective development. “We believe that Georgia’s attractiveness as a place to invest is increasing every year and this progress will be tangible soon. Georgia significantly differs from its neighbouring countries in the way that it strives towards Europe and a European model of society. I would advise every foreign investor to start business in Georgia. Capto Group’s initiative to conduct an Eastern European conference for RSM member countries is ample evidence of our interest in showing how transparent and attractive the Georgian business environment truly is,” said Kvinikadze. Q. How many companies have already applied for the European Business Awards? A. Through its membership in RSM, the leading sponsor of EBA for 2013/2014, Capto Group is delighted to be involved in the EBA awards programme and is encouraging Georgian businesses and individuals to take part in the 2013/2014 Awards. On 19 April, Capto Group and RSM

FINANCIAL

Kvinikadze, Managing Partner at RSM Capto Group

hosted leading Georgian businesses at Raddisson Blu Iveria where we announced that Capto Group will be a supporter of Georgian businesses applying for the European Business Awards (EBA). Since then a lot of businesses have contacted us to assist them in the process of applying for the EBA from Georgia. For the 2012/2013 programme, over 15,000 businesses were involved from 28 countries across Europe but, unfortunately, Georgia was not among these countries. We believe that this year there will be several companies representing Georgia. Entries for the 2013/14 Awards programme are open until 21 June, 2013. Q. How can the EBA change a company’s future? A. We believe that the European Business Awards is a very good stimulus for the Georgian business sector - for small, medium as well as large-size companies to constantly strive to improve their results and become a part of Europe’s business elite. The EBA is open to all businesses. Entering the Awards enables the companies to associate and align with Europe’s commercial elite and benefit from extensive media and industry coverage for your company.

Q. Almost all audit companies as well as members of the ‘Big Four’ are present in Georgia. How do you compete with them and what are the main advantages of RSM Capto Group? A. Capto Group has the widest chain of offices across Georgia, offering financially-focused services from four main offices in Tbilisi and branch offices in Batumi, Telavi, Kutaisi, Poti and Ozurgeti with their number increasing every year. Wherever in the world your business is going, you need constant access to rapid, relevant answers and a fastmoving team on your side. RSM is one of the world’s most successful audit, tax and advisory networks of independently-owned and managed professional services firms. With global reach and local perspective, RSM member firms deliver innovative solutions, helping you see further, adapt faster and grow stronger. RSM is the founding member of Forum of Firms (FOF) that is an association of international networks of accounting firms that perform transnational audits. Members of the Forum have committed to adhere to and promote the consistent application of

In 2011 Capto Group became the members of RSM. RSM has over 700 offices in 100 countries around the world, with more than 32,500 people on hand to serve businesses both large and small through its integrated global network of member firms. In 2012, Ministry of Economy and Sustainable Development of Georgia included Capto Group- member of RSM into the list of audit companies officially approved to conduct mandatory audits in particular audits of investments made by companies within the state investment programs. In 2012 in the framework of Revenue Service “alternative audit” project Capto Group was selected as “A” category independent audit company which is authorized to conduct audit examination of taxpayers of any category.

high-quality audit practices worldwide, as detailed in the FOF Constitution. In 1993 RSM was the first company which introduced the unified auditing standard across the member firms. Our head office ensures RSM global standard is kept within its member firms. The Big Four are present in almost every country but RSM is a global brand with global ambitions. Once you have connected with us, we tend to make you stay with us for the long haul. Our clients always receive appropriate and relevant answers to their questions. We react to new challenges in a timely manner and in fact, we believe that for a business, every problem is also an opportunity. Our clients appreciate our understanding of their business and our dedication to making things happen. Q. In which sectors do you have the most clients? A. Capto Group has extensive experience with all sizes of clients and all types of assignments, ranging from large publicly-listed and public sector clients through to owner-managed, director-controlled businesses. Capto Group serves clients across a wide range of industry sectors, including: banking, energy, insurance, trading and distribution, construction, manufacturing, retail, food and drinks manufacturing and services sectors. At present the share of foreign companies is more than 50%. Q. How affordable is your service for small and medium size businesses? A. Capto Group is one of the leading audit and consulting companies in Georgia, specializing in: audit & assurance, tax, IFRS, accounting and financial services, transaction services, corporate recovery & insolvency, advisory, legal service. The demands for our services are quite high from small and medium size business companies and we always make sure our services are affordable for them. I want to restate here that our company is proud to have deep knowledge and extensive experience of local legal and tax environment that is of decisive importance for local and foreign businesses.

will be the project of the year, the most important one of 2013. It will likely cost GEL 5 million, but we are trying to halve this. We need to insert a drainage system in Vake Park. We want to cultivate English type gardens with green meadows where visitors can gather and enjoy spending time. The Ecology and Greenery Department will very soon start the renovation of Bukia Gardens. This garden is in deplorable conditions nowadays and really needs our attention. Georgian architects designed a very nice project for Bukia Gardens and it will be renovated according to this project. The amount that is to be spent on the Bukia Gardens renovations is GEL 1 million. Finally, the third most important project is completing the rehabilitation of Rike Park, which will be finished by the end of 2013. It is a very attractive park for visitors because of its location. In general, Mziuri is the park most visited by Tbilisians as well as tourists. Together with Rike Park, the renovation of European Square will be completed as well. Q. How would you assess the ecological condition of Tbilisi? A. There is no exact information about the city’s ecological status, good or bad. That would require laboratory analyses, air stations, technical equipment and finances as well. And there are only three air stations, which is not enough to determine the ecological conditions in Tbilisi; during Soviet times there were seventeen. The centre of Tbilisi is of course very polluted due to traffic. This is directly linked to the economic condition of the country in general. As Tbilisi is the economic and financial centre of Georgia and as it is here that there is the biggest number of job places, the capital city is automatically becoming overcrowded with people from the regions and extra cars therefore. Aghmashenebeli Avenue is one of the most polluted areas in Tbilisi as it is situated on low land. As for the cleanest districts, I would say Varketili and the surrounding territory. “We have signed a contract with the Covenant of Mayors together with more than 100 cities, a covenant of European cities. The project is an initiative of the European Union and aims to reduce emissions. We took on the responsibility of reducing emissions by 20 percent by the end of 2020. In this way Tbilisi will contribute to overcoming global climate change as well as improving its ecological conditions. Work has already begun in this direction, which is reflected in all of the aforementioned projects implemented by the Ecology and Greenery Department of Tbilisi City Hall.”

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The Long Road

India’s Low E-Commerce Numbers Mask the Internet’s Huge Impact A Compassionate World: on Purchase Decisions Challenge of our Times

Guy de Fontgalland

e all have, without our full knowledge of the depth of the problem, moved into a world which is dangerously close to being torn apart by terrorism, conflicts, wars, financial and economic turmoil. It may look like a doomsday scenario, but if one looks at the overall human conduct of greed and plunder and add to it the devastations caused by climate change, one must admit that we are yet to come to terms with the real disorder that we refuse to see clearly. The Boston Marathon bombing, whoever is ultimately known to be behind the dastardly and inhuman act, brought home to many in the United States that life is fragile and that terror can strike anyone, anytime, anywhere. That level of uncertainty is a given. And then we have these massive pockets of continuing wars and violence from Syria, Irag, Afghanistan, Egypt where thousands have died and been displaced and where normal life has become a distant dream. There are drums of war between North and South Korea, too much insurgency and terrorism in Africa, disputes over Kashmir, Spratly islands, Malvinas, Abkhazia and South Ossetia. The European Union, touted as an exemplary cohesion of nations with a common will and purpose seems to be under severe stress. Britain is keen to walk out of the Union and it is likely that most British will support David Cameron’s initiative. Add to all the woes we see today is the increasing poverty levels mainly caused by the loss of purchasing power of national currencies in developing countries and the unbridled inflation which seems to engulf some 80% of the world population. The new entrants to the global poverty index from Greece, Cyprus, Portugal, Spain, Ireland and Italy – with a few more to join – makes the global economic foundations shaky and uncertain. There has been a sharp shift in the use of money away from the real economies of production - of agriculture, of education and health, of affordable housing for the large segment of the population – to highly complex financial products

which sucked the coffers of investment banks and then of the tax payers. Nothing much has changed to substantially re-direct the energy of finance into a more human-need based productive force. The Economic Forums, like that of the annual Davos glitz, will always gather some of the most distinguished thinkers, economists, bankers, CEOs and heads of state. They are useful to the extent that they do bring forth national, regional and global issues which need to be tackled as a matter of utmost urgency. But once the pundits go home and the bureaucracy begins to grind into volumes of statistics and reports, the time has come for the next series of Forums. And so it goes on, year after year, with political wrangling, face-offs, pronouncements and promises. There is very little action on what I would like to call a Global Project for a New World Order. What could this New World Order be? It would be an Order which will have the following pillars: Founding a just society in each nation and across the world where peace and economic stability is assured; Enlivening democracy across nations and giving people the right to a decent living; Scaling down and eventually eliminating all weapons of mass destruction including nuclear weapons and the more sophisticated weapons such as the intercontinental ballistic missiles. A Nation’s readiness for war has some serious inbuilt threats. One is that it needs to constantly feed the innovation and production of the war machines and the men and women who will use them. Having them would not be enough. They need to be tested on ground and on space through actual engagements in the theatre of war, which means that the pockets of conflict must be created. And when you multiply this phenomenon among a number of militarily dominant countries, we end up with a world that is war-hungry and ready to fight, at all times. This war-prone momentum, despite the darkest history of wars, deaths and destruction, needs to be stopped if the meagre resources of this earth are to be preserved for the betterment of mankind. I am both an investment banker and an educationist.

I often bring up these issues informally with some of my friends and associates, across so many countries. We often begin the conversation on a questioning mode: Is a new world that is reasonable, compassionate, just and respectful of each other be possible?. To my surprise, some would show least interest in the subject and those who feel it is an import plank of human endeavour, would think it is the ultimate utopia, that this is just a dream. The pessimism does not stem from a lack of belief in a new world order, but from the thought that it would be near impossible to harness the energies and focus of global leaders, all of whom are fighting their own survivals in politics and are merely focussed on problems and issues pertaining to their own national constituencies. Pessimism and the absence of hope also come from the knowledge that the leading economies of the United States, Europe, Russia and China have their own rigid agendas for growth and dominance and that the concept of a new world order would be totally alien to them. If control and dominance is the ultimate aim of the most powerful nations, why bother about a just society. But the cancer of discontent, of terror, of conflict and of wars has deeply eroded human societies, has polarised them and has destroyed many of the bridges which held nations together. We have certainly come a long way from the dark days of the last two world wars, but we have not yet moved away from the brink of yet another world war. The New World Order of a just and peaceful global society needs to be the prime agenda for all of us. And the momentum must be built from grass root civil societies, schools, universities, think-tanks and, without doubt, from the pantheon of supreme political leaders whose vision and statements to change this world will have a profound impact. The greatest of religions, from Christianity to Islam, from Buddhism to Hinduism, have all taught compassion to fellow human beings as the overriding arch of human existence and of happiness. Creating a compassionate world is the challenge of our times.

The FINANCIAL

orty percent of India’s 90 million urban Internet users say that online activities such as product research and price comparison influence what they buy. This digital influence is expected to greatly accelerate over the next five years, according to a new report by The Boston Consulting Group (BCG). The report, asserts that the number of Internet users in India is expected to nearly triple from 125 million in 2011 to 330 million by 2016. This surge of Internet penetration will cause the digital influence on purchase decisions to explode. To determine how Internet use affects buying decisions, BCG’s Center for Consumer and Customer Insight surveyed 25,000 Indian consumers on their online activities during each step of the purchase cycle, in 101 different product categories. On the basis of the findings, BCG assigned each product category a Digital Intensity Index (DII). Categories with the highest DII have the most online activity among category buyers. “The fact that air travel, with the second-highest digital intensity, has a DII of only 20.6 out of 100 shows how much opportunity still exists for companies to engage Indian consumers online— and to influence their buying decisions,” noted Arvind Subramanian, a BCG partner and coauthor of the report. The demographics of Indian Internet use revealed some unexpected findings. Indian men are far more likely than women

to be on the Internet (32 percent versus 12 percent) and more than three times likely to be digitally influenced (14 percent versus 4 percent). Although higher income levels are well represented online, even 18 percent of the lower-income “strugglers” (whose annual household income is less than $3,300) have Internet access, and 6 percent are engaged in commercial activity online. Overall, the Internet has the highest penetration among people ages 18 to 24 (48 percent) and the lowest among those older than 54 (6 percent). The Internet is projected to reach small towns and the low rungs of the economic ladder more quickly than retail chains will, bridging geographic barriers and feeding the growing appetite for consumer goods. BCG’s research also dispelled many misperceptions about Indian consumers. Only 30 percent of online buyers were drawn to Internet shopping for discounts. A higher proportion (37 percent) valued the convenience of shopping from home,

and 29 percent said that they appreciated the expanded variety of products available online compared with what is available at brick-and-mortar stores. In contrast to more advanced e-commerce markets, digitally influenced consumers in India rely on company websites for detailed product information as frequently as they refer to thirdparty sites for comparative research and online purchases. The report highlights that this rapidly expanding digital influence in India is a call to action for consumer products companies. By acting quickly and decisively, these companies can mitigate the risk of being disintermediated from their customers by e-commerce powerhouses as has happened in the U.S. and China. To capitalize on this growing market, companies must integrate their online and offline strategies, engage consumers and build their loyalty, refocus ad spending, actively manage the Internet channel, mind the gaps in which online activity is low, and optimize the mobile experience.

European Consumers Value Media at About €2,100 per Year, of which €1,077 Comes from Online Media The FINANCIAL

edia are migrating online at a rapid rate, and economic value is following, according to a new study by The Boston Consulting Group (BCG). European consumers value online media at €1,077 per year over and above what they pay for it, or approximately half the €2,078 online and offline total for each connected consumer. Across the nine European countries the online net value, or “consumer surplus,” ranged from €792 to €1,557. European consumers derive the biggest online surplus (about 30 percent of online total) from usergenerated content and social networks, but traditional media

categories are catching up fast. The report is based on surveys of some 7,000 consumers. BCG calculates the consumer surplus—defined as the value consumers themselves place on an activity or product over and above what they pay for it—for seven major categories of media: books, local newspapers and magazines, international newspapers and magazines, TV programs and movies, radio and music, games, and user-generated content and social media. By wide margins (with majorities from 65 to 78 percent, depending on the country), European consumers believe they have access to higherquality online content than they did three years ago. Most Europeans (from 55 to 72 percent) expect continued improvement in online media. Strong majorities in virtually all countries (as

high as 75 percent) are more excited about the benefits of the Internet than worried about the risks. Based on its research, BCG believes that the key factors are in place to accelerate online consumption across Europe. One such factor is rising device ownership. Throughout Europe, consumers using three or more devices enjoy higher online media consumer surplus—an average of about 50 percent higher— than those with fewer devices. Europeans owned an average of 1.4 devices three years ago; today they own 2.6. They expect to own 4 devices in three years’ time. Another key factor is the increasing penetration of fast mobile broadband. This facilitates the availability of more highquality digital content, for which there is significant demand.

TBC Bank Wins “Best Bank in Georgia 2012” Award from EMEA Finance Magazine

BC Bank has been awarded “Best Bank in Georgia 2012” by EMEA Finance magazine for the second consecutive year. “Georgia deserves a bank that can keep pace with its rapid growth, and TBC Bank is proving that it is fit and ready to run at the head of the pack,” says Christopher Moore, publisher & CEO, EMEA Finance magazine. “Of course, growth at all costs has its pitfalls, and here TBC Bank

is working to increase its capital and to strengthen its risk management procedures. Presently, the Bank has the lowest non-performing loans ratio in Georgia at just 1%. The Bank is a deserved winner of this accolade,” Moore explains. “We are very proud to receive The Best Bank in Georgia 2012 award from EMEA Finance magazine and find it particularly gratifying to win it for the second year in a row. This very prestigious award is an excel-

lent recognition of the Bank’s strong financial performance and the key projects implemented during the year,” commented Vakhtang Butskhrikidze, CEO, TBC Bank. EMEA Finance is a bimonthly magazine focused on the financial markets in Europe, the Middle East and Africa. Since its launch in 2008 the magazine has become a leading source of information for its executive-level audience across the financial services and corporate sectors.

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finchannel.com | 29 April, 2013

London-Based Robin Monotti Architects Bringing Circular Tower to Tbilisi The FINANCIAL By Madona Gasanova

reating highly insulated buildings to reduce heat loss in winter and thermal radiation in summer are steps that construction businesses are currently taking to be more environmentally friendly. “Using solar power generating photovoltaic glazing systems to create energy for the building is something we are looking into for Tbilisi Business Centre. We have to use the latest advances in glass technology that allow a high percentage of the sun’s energy to reflect in the summer months. Also, we plan to create terrace gardens for each level to absorb CO2 and produce oxygen,” Robin Monotti Graziadei, architect and managing partner of Robin Monotti Architects, told The FINANCIAL. According to Monotti, green building can be promoted by creating a prize for green buildings that rewards the best new projects with green credentials. London-based Robin Monotti will bring the 16-storey circular tower of 16,000 m2 of space as a new business centre to Tbilisi. The business centre will include offices, conference halls, trading floors, restaurants, outdoor garden terraces on each level, and parking. The design of the new tower is a delicately balanced stack of glass-enclosed disks that seem to spiral upward, and the structure will be located next to an angular, boxy structure designed by the architects Giorgi Chakhava and Zurab Jalaghania and built in 1975. This angular structure now serves as the headquarters of Bank of Georgia. As there is very little awareness and limited practice of green building among the business community in Georgia, Monotti said that “it needs to be taught at university so new students in architecture will consider it an important aspect of

Robin Monotti Graziadei, architect and managing partner of Robin Monotti Architects

their education as architects or engineers”. “The artificial and natural worlds are starting to be reunited again in architecture, with the creation of gardens at high levels and buildings that integrate nature,” Monotti said in answer to the question on where architecture is today and where it is going. The Tbilisi Business Centre project is already among the list of projects that Monotti is proudest of. The Watering Holes fountain for the Royal Parks of London, and Yacht House Foros, Ukraine, are also in the list.

The terms for completing the business centre, cost of the project and other details of negotiation, Monotti kept confidential. “The initial decision was to find a suitable government-owned site along the river but outside of the historic centre. The new Tbilisi Business Centre was designed for its context, and was only developed after a visit to the site and a careful consideration of how to create a new building next to Bank of Georgia, formerly the Ministry of Highways, a listed national monument of Georgia. “As the Bank of Georgia is a massive concrete building, we wanted to

create something light and glassy,” said Monotti. He explained that as Bank of Georgia is boxy and full of 90 degree angles, they wanted to create something rounded and without any angles. “As Bank of Georgia uses the “Space-City” method which allows space to flow through the building, we wanted to create a building that is spatially compact. As the BOG building is created out of horizontal cantilevering beam floors, we wanted to create a vertical building.” “In order to not be overshadowed by such a powerful neighbour, and in turn not to overshadow it, we want-

Green Checklist Reduce Paper Usage

This can include re-using envelopes for intraoffice and postal mail, using rechargeable batteries and buy recycled toner cartridges. Recycle glass, plastic, metal cans, white paper, and mixed paper and organics.

et up an intranet that employees can use to access internal documents such as policies and procedures, phone lists etc. Rely on email for billing, invoices, communication with clients, regular reporting and more. Offer a direct deposit option to employees for payroll. Switch to e-marketing including using your website as a sales tool, utilizing email newsletters, and using online advertising. Use the Microsoft Word “track changes” program for editing documents. Offer employees personal size dry erase boards for note-taking. When you need to print, buy only 100% post consumer waste recycled paper

Reduce Computer Energy Consumption

Encourage Telecommuting, Use of Public Transportation and Carpooling

duce your company’s electric or natural gas bill. Invest in energy saving power strips, which can make up for their costs in just a few weeks. Turn off lights when not in use, especially in bathrooms, kitchens and lower use areas. Take advantage of natural daylight and reduce lighting inside the office. Be use to power down large office equipment (and unplug!) when employees are done working.

Save fuel usage, employee expense on gas and office energy usage by offering telecommuting. For employees coming to the office, offer incentives for use of public transportation and carpooling.

Switch All Light Bulbs to Compact Fluorescents

Take Small Steps to Reduce Energy Consumption Implement a few energy-saving measures to help fight air pollution, global warming and to re-

While the initial investment may cost more than conventional bulbs, CFLs last longer-- so over time your office will save money and save energy.

Reuse and Recycle Take every advantage to reuse materials in the office.

By turning off or at least powering down your PCs during periods of inactivity – such as at night or over the weekend – Energy Star estimates that firms can save anywhere between $25-$75 per PC per year. Set computers to switch to a low-power sleep mode after a few minutes of inactivity and make sure to optimize efficiency settings on all newer computers.

Become Carbon Neutral Calculate the carbon emissions of your office (using an online calculator or by contacting your local power company), then purchase carbon offsets.

Reduce Water Usage Check all office kitchens and bathrooms regularly for leaks and fix immediately. Install low-flow toilets (alternately, you can place a plastic container filled with water in the tank of the toilet). Encourage employees to be conscious of water usage when cooking, making coffee and tea, etc.

ed Tbilisi Business Centre to match the height of BOG and to be built at an appropriate distance from it, he added. “If Bank of Georgia’s shape can be considered very ‘male’ because of the sharp angles, Tbilisi Business Centre is ‘female’ because of its rounded shape,” Monotti said. In his words, the initial concept models, perhaps appropriately for a business centre, were made with coins on a table. This allowed many different combinations to be tested very quickly. Monotti holds Georgian architecture in high esteem. “You can never spend enough time in Georgia as there is so much to see and learn from. We rate Georgian architecture very highly and look forward to cooperating with a Georgian architecture office on this project.” Glass buildings have become very popular worldwide and also in Georgia. Monotti explained it as an architecturally symbolic message that administration, law enforcement, business and management can be transparent processes to the wider public. “Chakava’s Ministry of Highways (the current headquarters of Bank of Georgia in Tbilisi) and Casa Malaparte in Capri, Italy, are my favourite buildings,” Monotti told The FINANCIAL.

CMYK

HEADLINE NEWS & ANALYSIS

green business

FINANCIAL

29 April, 2013 | finchannel.com

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FINANCIAL HEADLINE NEWS & ANALYSIS finchannel.com | 29 April, 2013

dining |

places we strongly reccommend to visit | La Brioche

20 Telavi Str. Tel: 277 20 20 Fax: 277 21 20

www.sheraton.com/tbilisi

Berika International LTD GSA for Czech Airlines in Georgia Tel.: 2227941, Fax: 2222941

1 Brother Kakabadze Str.

15 Lubliana Str.

Tel: 251 00 01 Fax: 253 00 44 info@zarapxana.ge www.zarapxana.ge

AeroSvit Representative office in Georgia Address: 25 st.Leselidze Office 205 Tbilisi 0160, Georgia  Tel: 243 96 93 Fax: 243 96 93  tbilisi@aerosvit.com

37 Chavchavadze Ave. Tel.: 291 30 26; 291 30 76

Tel: 292 29 45; Fax: 292 29 46; tk@mcdonalds.ge

Addr: Batumi, Georgia, Parnavaz Mepe №25

Tel.: 260 15 36 info@piazza.ge, www.piazza.ge

Betsy’s Hotel 32-34 Makashvili Street, 0108, Tbilisi, Georgia

Tel.: 293 14 04, Fax: 299 93 11 info@betsyshotel.com www.betsyshotel.com

5 Chavchavadze Ave. 13, Rustaveli Avenue.; Tel.: 2 779 200 www.TbilisiMarriott.com tbilisi.marriott@marriotthotels.com

4, Freedom Square, Tel: 2 779 100 www.CourtyardTbilisi.com courtyard.tbilisi@marriotthotels.com

3 Vashlovani Str.; (“Super Babilon” oposit) Tel.: 298 90 86

Tel.: 222 44 17 577 22 99 22 plasticsurgerygeo.com

Hotel “O. Galogre” The tickets are available at tbilisi international airport freedom square 4 courtyard marriott hotel, 1st floor

Tel: 2400 400; 2400 040

Ice cream, coffee, blended drinks, pastry, salads… Open 8am-2am

36 Al. Kazbegi ave. Tbilisi, 0177, Georgia Tel/Fax: 229 43 43 info@intercontinental.ge www.intercontinental.ge

Tel: 888 222 2900 www.sheraton.com/tbilisi

Le Marais

Thai

(May-October)

8am-1am

(November-April)

Addr: 12 Eristavi Str. (at the round garden) 34 Leselidze Str. 7a Pekini Str. Phone: 299 03 99; 574 74 69 69 info@lucapolare.com www.lucapolare.com

Radisson Blu Iveria Hotel Rose Revolution Square 1 Tel.: 240 22 00; Fax: 240 22 01 info.tbilisi@radissonblu.com radissonblu.com/hotel-tbilisi

Erekle II str. Tel: 555 00 44 46

GEORGIA PALACE HOTEL

Georgian Real Estate Management The Green Building, 6 Marjanishvili Street, 0102 Tbilisi Tel: 243 30 77, Fax: 243 30 79 www.firstbrokerage.ge E-mail: info@firstbrokerage.ge

Village Anaklia, Zugdidi, Georgia Tel: 2 60 99 90 2 60 99 91

32 Abashidze Str. Tel: 222 40 83

Addr: 35 Abashidze Str. Tel.: 222 17 70, www.thai.ge

26 May Square Tel: 2300099 E-mail: info@hi-tbilisi.com www.hi-tbilisi.com

50 Chavchavadze Ave. Tel: 2 91 52 42

www.hotelanaklia.com

13 Shavteli Str. Tel: 2439494 info@ambasadori.ge www.ambasadori.ge

6 Kavsadze Str. Tel: 2 25 15 45 2 55 44 55 www.lottravel.ge

For advertising please contact:

275 Agmashenebeli Ave., Kobuleti, Georgia Tel: 2242400 Fax: 2242403

E-mail: info@gph.ge, www.gph.ge

8, Vakhtang Gorgasali Str. Batumi, Georgia Tel: +995 422 27 48 45 info@hotelgalogre.com www.hotelgalogre.com

4 Freedom Square Tel: 2988 988, Fax: 2988 910 E-mail:gmt@gmt.ge, www.gmt.ge

4 Kargareteli str. Tel; 2236278 www.kenari.ge info@kenari.ge

577 741 700 marketing@finchannel.com

BusinessTravelCom

Hotel and Airticket Booking: 2 999 662 | SKY.ge

HEADLINE NEWS & ANALYSIS

green business TENDER ANNOUNCEMENT

LEPL National Food Agency of the Ministry of Agriculture of Georgia REQUEST FOR PROPOSAL In the frames of the grant allocated under the European Union Grant Contract on the Comprehensive Institutional Building for the support of the National Food Agency (NFA) and in compliance with the procurement procedures provided by this contract, NFA calls for bids on purchase of computer equipment (in two lots) and invites all persons concerned to take part in the tender. Purchase objects: Computer equipment – 16 units The detailed description of the computer equipment, the list of documents to be produced and other requirements of the buyer are given in the Tender Documentation, which can be got by bidders at National Food Agency. The documentation is also available on the Agency official web-site www.nfa.gov.ge. The tender will be held in eleven lots (the specification of each lot and quotation is provided in the tender documentation). The total estimated cost of purchase objects (lots) is 37400 (thirty-seven thousand and four hundred) GEL. Participation in the tender is possible both in all and in a single lot. All goods purchased must originate in a Member State of the European Union or a country covered by the ENPI programme. For these purposes, “origin” means the place where the goods are mined, grown, produced or manufactured and/or from which services are provided. The origin of the goods must be determined according to the EU Customs Code or to the relevant international agreement applicable. http://ec.europa.eu/europeaid/where/neighbourhood/country-cooperation/index_en.htm The computer equipment shall be supplied to: 6 Marshal Gelovani Street, Tbilisi. The winner of the tender shall supply the computer equipment within 60 days after the execution of the contract. The persons concerned shall submit their bids in Georgian language and in case of foreign companies notarized translation of a tender bid in the sealed envelope to the National Food Agency at 6 Marshal Gelovani Street, Tbilisi on the 17th May, 2013 from 2 p.m. to 3 p.m. The bids will be opened at the above mentioned address on the 17th May, 2013 at 3 p.m. For additional information please contact Mr. Davit Tsomaia at the National Food Agency, 6 Marshal Gelovani Street, Tbilisi, Tel: 558 555 335. LEPL – National Food Agency

Georgia to be Part of the GreenEvo Project The FINANCIAL By Mariam Papidze

reenEvo, Green Technology Accelerator, is an innovative project organised by the Ministry of the Environment of the Republic of Poland which aims to identify the best green technology solutions offered by small and medium-sized polish companies. Project participants are selected every year during the competition process. This year, it is intended for participants from Georgia to be part of the selection process as well. One of the fields where savings can be significant is energy efficiency and waste management. Maciej Chrzanowski, Economic Officer at the Polish Embassy, explains that the companies will visit Georgia as part of the GreenEvo project from 17-21 June, 2013. The range of technologies represented will include: energy-efficient housing, biomass, waste management, post-industrial land recultivation, solar panel heating. “It is incorrect to assume that only developed economies can afford to invest in green technologies,” Maciej Chrzanowski said. “Returns (or savings) can be significant in Georgia too. One such field is energy efficiency, where Georgia has huge po-

tential both in the residential sector and in industry. Other promising fields are waste management, currently being reformed in Georgia,” he added. Polish entrepreneurs will be interested in finding local partners from the private sector, government or municipal administrations. “We plan to organise matchmaking in Tbilisi and several other cities. Georgian companies interested in taking part in these events are kindly asked to contact the Embassy of Poland in Tbilisi,” Chrzanowski added. “Nowadays Poland wants to support other countries by sharing experience and know-how,” Agnieszka Kozłowska-Korbicz, GreenEvo Programme Coordinator, Ministry of the Environment of Poland, told The FINANCIAL. “An expression of these aspirations is GreenEvo, a project supporting the international transfer of environmentally-friendly technologies. Capitalizing on experiences from the period of transformation, we want to show other countries how to establish local technological competence and cooperate with private sector organizations,” she added. “Since 1989, Poland has gone through a political and economic transformation, which helped it catch up with the most developed countries, owing to investments

SoundCloud and SwiftKey win European Web Entrepreneur of the Year awards

lexander Ljung & Eric Wahlforss of SoundCloud are European Entrepreneurs of the Year while Jon Reynolds of SwiftKey is Young European Entrepreneur of the Year (under 30 years). The European Commission sponsors the awards as part of Startup Europe, the Commission’s six-part plan to accelerate, connect and celebrate local entrepreneurship ecosystems in Europe, so that tech start-ups not only start in Europe, but stay in Europe. 45% of Europeans would like to be their own boss if they could. On congratulating the Europioneer winners, Commission Vice-President Neelie Kroes said “SoundCloud and SwiftKey destroy the myth that all good ideas start and end in Silicon Valley. These companies have great futures in Europe, and they show us that it’s sexy and enriching to be your own boss, to create your own job.” The Europioneer awards are a partnership between the European Commission and The Next Web. 908 nominations were received from across Europe. The winners were selected by a distinguished panel of judges from Europe’s tech and startup community. SoundCloud is a Berlin and Londonbased audio platform with around 40 million users. The goal of SoundCloud is to democratise music online – for it to be more than just a listening experience. SoundCloud enables anybody to upload, record, promote and share their music, soundbites and podcasts online– users have described SoundCloud as being like “email for music” or “YouTube for audio”.

FINANCIAL

29 April, 2013 | finchannel.com

biznesis personaluri radio

marketing@commersant.ge +995 32 2505 955

Advertiser: Radio Commersant. Contact FINANCIAL Ad Dep at marketing@finchannel.com

CMYK

in environmental protection, stimulation of the development of green technologies and establishment of the institutional framework supporting the green economy,” Agnieszka KozłowskaKorbicz said. “One of the possible uses of our technology specifically applicable in Georgia is costefficient housing for refugees. Still, the technology is also suitable for luxury housing estates,” said Jakub Wójcik, Vice President, Izodom 2000 Polska, manufacturer of passive houses. “Houses built using Izodom technology are ten times cheaper in heating and air conditioning costs, they are both warm in the winter, and cool in the summer. They are fit for seismic zones. Most importantly, we closely cooperate with local construction companies. Our technology gives them an advantage over the competition by building up to five times faster, without additional investments in equipment or extensive training. With growing scale, the manufacturing of components can be moved to the local market,” he added. “The majority of our production is exported. The main markets include the European Union, United Arab Emirates, Morocco, Russia and Ukraine,” Wójcik added.

CMYK

FINANCIAL HEADLINE NEWS & ANALYSIS

where to go

finchannel.com | 29 April, 2013 April 29, 2013

Clubs, Pubs…

Tel: 2 999 662 SPECIAL OFFER FROM BUSINESSTRAVELCOM Kiev

Dusseldorf

One way (Tbilisi- Kiev) -217Gel One way (Kiev - Tbilisi) 153 Gel Round Trip (Tbilisi- Kiev-Tbilisi) - 365 Gel

One way (Tbilisi - Dusseldorf) - 310 Gel Round Trip (Tbilisi – Dusseldorf-Tbilisi) - 607 Gel

Round Trip (Tbilisi – Dubai – Tbilisi)465 Gel One way (Tbilisi - Dubai) - 348 Gel

One way (Tbilisi - Erbil) 347Gel  Round Trip (Tbilisi – Erbil- Tbilisi) - 550 Gel

Dubai

Erbil

Brussels

One way (Tbilisi - Brussels) 261Gel Round Trip (Tbilisi – Brussels - Tbilisi) - 424 Gel

CALL: 2999 662; 592 07 53 53. E-MAIL: SKY@SKY.GE

From

SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band “Wheels”, DJ Datuna Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Restaurant “Mghvime” Address: Left bank of Mtkvari River (next to shop “Riverside”) Phone: 2 305 558/ 2 359 540; 599 56 60 72 Every evening from 22:00 inextinguishable star of Georgian Estrada Gia Suramelashvili and live music: Estrada ensemble “Mghvime” (4 boys and 1 girl), tam-tam, violin, saxophone, king. You will listen to famous old and new hits, jazz, blues, rock… Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Maidan Jazz Band Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet “Taoba”: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Rezo Kiknadze saxophonist Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Goblins» (Covers)

Cinema «Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Scary Movie V»; «Oblivion» 3D; «G.I. Joe: Retaliation» 3D; «The Machine Which Makes Everything Disappear»; «The Croods» 3D; «Coma» (Ticket Price: 7,50 - 11,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Scary Movie V»; «The Place Beyond the Pines» «The Croods» 3D (Ticket Price: 7,50 - 11,50 GEL) «Sakartvelo» Cinema 2/9, Guramishvili Ave. Tel: 230-8080; 269-66-47 «Gladiators of Rome»; «Coma»; «Escape from Planet Earth» 3D (Ticket Price: 4 - 8 GEL)

Theatre

Tbilisi

Day

Depart

Arrive

Flight#

Aktau

4.7

02:50

05:10

DV 842

Amsterdam

1.6

06:10

07:55

A9 651

Amsterdam

3.7

Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-78-74, 295-39-27 Scarlet Flower Director: Anatoli Lobov Duration: 90 minutes Date: April 29 Hall: Big Stage Time: 12:00 15:00 Price: 5, 7 GEL

Gallery

Istanbul

DAILY

06:30

06:45

PC 463

Kiev

2.3.5.7

08:40;17:00

09:10;17:10

A9 557

Vladimer Kandelaki’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - May 12 «Where is Your Shadow Angel?» – Exhibition by Christine Robakidze Exhibition Hall of the National Parliamentary Library of Georgia 7, Lado Gudiashvili Str. Tel: 297-16-18 (The Exhibition Hall of the National Parliamentary Library of Georgia is open every day, 10:00 - 20:00) till - May 9 Gallery represents exhibition of three Georgian artists - Oleg Timchenko, Vakho Bughadze and Uhsangi Khuma D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: SaturdaySunday 10:00-18:00 till - May 5 Baia Gallery presents: Personal Exhibition by Anton Balanchivadze Baia Gallery 10 Shardeni Str. Tel: 275-45-10 Gallery’s working hours: 12:00-19:00 till - May 8 Lado Gudiashvili exhibition «Promenade» is presented at the Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 - 18:30 except Mondays and official holidays. Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 http://lgexhibitionhall.info-tbilisi.com/ till - May 30

Kiev

DAILY

07:30; 18:20 08:00;19:00

PS 728/516

April 30, 2013

16:00; 08:00 17:50; 09:50

9Y 301

Almaty

1.2.4.6

08:55

14:35

Athens

06:15

07:15

Baku

1.3.5.6.7

01:50;12:30

03:10;13:50

Baku

DAILY

15:05;20:15

16:20;21:30 QR 975/977

5.7

14:45

Batumi

15:15

KC E90 A3 983 J2 224/226

A9 505

Doha

DAYLY

15:05/19:05 20:15/00:15+1 QR 975/977

Dubai

2.7.4

08:00

11:10

9Y 411

Dubai

2.4.6

06:35

10:00

FZ 714

Donetsk

02:50

02:35

QU 202

Istanbul

DAILY

05:15;18:15

05:45 18:45

TK 387/383

1.3.5

15:30

17:10

BA 158

DAILY

03:55

06:05

B2 736

Moscow

X3.5

09:50

12:20

A9 930

Moscow

1.3.5.6.7

16:35

19:25

S7 956

Odessa

15:05

16:10

QU 212

Munich

DAILY

05:05

06:10

LH 2557

Prague

3.6

05:20

06:15

OK 935

1.3.6

07:00

08:35

BT 723

2.7

06:00

07:15

AZ 551

Tel-Aviv

2.4.7

18:25

19:10

A9 695

Vienna

4.7

08:55

09:25

A9 681

Urumqi

22:40

07:30+1

CZ 6040

Warsaw

2.4.7

05:50

06:25

LO 724

London Minsk

Riga Rome

Days=( 1-Monday., 2-Tuesday., 3-Wedsday., 4-Thursday., 5-Friday., 6-Saturday., 7-Sunday. D-Daily; X-except off)

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Clubs, Pubs… SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band «Wheels», DJ Datuna Restaurant «Mghvime» Address: Left bank of Mtkvari River (next to shop «Riverside») Phone: 2 305 558/ 2 359 540; 599 56 60 72 Every evening from 22:00 inextinguishable star of Georgian Estrada Gia Suramelashvili and live music: Estrada ensemble «Mghvime» (4 boys and 1 girl), tam-tam, violin, saxophone, king. You will listen to famous old and new hits, jazz, blues, rock… Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Restaurant «Maidan» 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Georgian folk ensemble «Urmuli», georgian dances Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Maia Kankava Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Goblins» (Covers)

Theatre Rustaveli Theatre 17, Rustaveli Ave. Tel: 272-68-68 I Thirst the Wind Direct Director: Murman Jinoria Cast: Murman Jinoria Duration: 75 minutes Date: April 30 Hall: Experimental Stage Time: 19:00 Price: 6, 8 GEL Liberty Theatre

2 Rustaveli Ave. Tel: 298-58-21 Jeans Generation Director: Davit Doiashvili Cast: Marina Janashia, Nana Darchiashvili, Goga Chkheidze, Dima Merabishvili, Merab Kolbaia, Lela Metreveli, Jaba Kiladze, Mariam Nadiradze, Apolon Kublashvili, Sandro Margalitashvili Duration: 165 minutes Date: April 30 Time: 19:00 Price: 6, 12, 14 GEL Georgian State Pantomime Theatre 37 Rustaveli Ave. Tel: 299-63-14 Krimanchuli Director: Amiran Shalikashvili Duration: 60 minutes Date: April 30 Time: 19:00 Price: 5 GEL Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-78-74, 295-39-27 Scarlet Flower Director: Anatoli Lobov Duration: 90 minutes Date: April 30 Hall: Big Stage Time: 12:00 15:00 Price: 5, 7 GEL Irine’s Happiness Director: Dimitri Khvtisiashvili Duration: 90 minutes Date: April 30 Hall: Big Stage Time: 19:00 Price: 7, 10 GEL

Gallery Vladimer Kandelaki’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - May 12 «Where is Your Shadow Angel?» – Exhibition by Christine Robakidze Exhibition Hall of the National Parliamentary Library of Georgia 7, Lado Gudiashvili Str. Tel: 297-16-18 (The Exhibition Hall of the National Parliamentary Library of Georgia is open every day, 10:00 - 20:00) till - May 9 Gallery represents exhibition of three Georgian artists - Oleg Timchenko, Vakho Bughadze and Uhsangi Khuma D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: SaturdaySunday 10:00-18:00 till - May 5 Baia Gallery presents: Personal Exhibition by Anton Balanchivadze Baia Gallery 10 Shardeni Str. Tel: 275-45-10 Gallery’s working hours: 12:00-19:00 till - May 8 Lado Gudiashvili exhibition «Promenade» is presented at the Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 - 18:30 except Mondays and official holidays. Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 http://lgexhibitionhall.info-tbilisi.com/ till - May 30

May 1, 2013

Clubs, Pubs… SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band «Wheels», DJ Datuna MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Live Music Restaurant «Mghvime» Address: Left bank of Mtkvari River (next to shop «Riverside») Phone: 2 305 558/ 2 359 540; 599 56 60 72 Every evening from 22:00 inextinguishable star of Georgian Estrada Gia Suramelashvili and live music: Estrada ensemble «Mghvime» (4 boys and 1 girl), tam-tam, violin, saxophone, king. You will listen to famous old and new hits, jazz, blues, rock… Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Tavern «Scarlet Sails» 25, Leselidze Str. Tel: 293-10-28 22:00-01:00 - Group «Comic Condition» Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Maidan» 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Maidan Jazz Band Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Live Band Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Zarebi» (Covers)

Cinema «Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Scary Movie V»; «Oblivion» 3D; «G.I. Joe: Retaliation» 3D; «The Machine Which Makes Everything Disappear»; «The Croods» 3D; «Coma» (Ticket Price: 7,50 - 11,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Scary Movie V»; «The Place Beyond the Pines» «The Croods» 3D (Ticket Price: 7,50 - 11,50 GEL) «Sakartvelo» Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 «Gladiators of Rome»; «Coma»; «Escape from Planet Earth» 3D (Ticket Price: 4 - 8 GEL)

Theatre Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 Raspberries Director: Levan Tsuladze Cast: Nato Murvanidze, Nika Kuchava Date: May 1 Hall: Big Stage Time: 20:00 Price: 4 - 10.50 GEL Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 Beauty Queen - Premiere Director: Guram Vashakidze Date: May 1 Hall: Theatre in Attic Time: 20:00 Price: 11 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 So what if wet lilac is wet Director: Gogi Todadze Cast: Giorgi Bakhutashvili, Otar Lortkipanidze, Nikoloz Paikridze, Medea Jibladze, Tamar Tavkhelidze, Tamar Aznarashvili, Mariam Karkashadze, David Kolelishvili Date: May 1 Time: 19:00 Price: 6, 9, 11 GEL Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 Katzelmacher Director: Mikhail Charkviani Cast: Gaga Shishinashvili, Salome Maisashvili, Iako Chilaia, Ani Guliashvili, Magda Lebanidze, Ana Tsereteli Duration: 80 minutes Date: May 1 Time: 20:00 Price: 7, 10 GEL Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 29578-74, 295-39-27 Mousetrap Director: Otar Baghaturia Duration: 80 minutes Date: May 1 Hall: Big Stage Time: 12:00 15:00 Price: 7, 10 GEL Gabriadze Theatre 13,Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 The Battle of Stalingrad Marionette Theatre Author and Director: Rezo Gabriadze In Russian +10 years Date: May 1 Time: 20:00 Price: 5, 10, 15 GEL

Gallery Vladimer Kandelaki’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except

Monday. From 11:00 till 17:00 till - May 12 «Where is Your Shadow Angel?» – Exhibition by Christine Robakidze Exhibition Hall of the National Parliamentary Library of Georgia 7, Lado Gudiashvili Str. Tel: 297-16-18 (The Exhibition Hall of the National Parliamentary Library of Georgia is open every day, 10:00 - 20:00) till - May 9 Gallery represents exhibition of three Georgian artists - Oleg Timchenko, Vakho Bughadze and Uhsangi Khuma D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: SaturdaySunday 10:00-18:00 till - May 5 Baia Gallery presents: Personal Exhibition by Anton Balanchivadze Baia Gallery 10 Shardeni Str. Tel: 275-45-10 Gallery’s working hours: 12:00-19:00 till - May 8 Lado Gudiashvili exhibition «Promenade» is presented at the Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 - 18:30 except Mondays and official holidays. Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 http://lgexhibitionhall.info-tbilisi.com/ till - May 30

May 2, 2013

Clubs, Pubs… SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band «Band’a’roll», DJ Datuna MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Live Music Restaurant «Mghvime» Address: Left bank of Mtkvari River (next to shop «Riverside») Phone: 2 305 558/ 2 359 540; 599 56 60 72 Every evening from 22:00 inextinguishable star of Georgian Estrada Gia Suramelashvili and live music: Estrada ensemble «Mghvime» (4 boys and 1 girl), tam-tam, violin, saxophone, king. You will listen to famous old and new hits, jazz, blues, rock… Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Restaurant «Maidan» 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Georgian folk ensemble «Urmuli», georgian dances Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Guliko Chanturia Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Zarebi» (Covers)

Cinema «Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Scary Movie V»; «Oblivion» 3D; «G.I. Joe: Retaliation» 3D; «The Machine Which Makes Everything Disappear»; «The Croods» 3D; «Coma» (Ticket Price: 7,50 - 11,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Scary Movie V»; «The Place Beyond the Pines» «The Croods» 3D (Ticket Price: 7,50 - 11,50 GEL) «Sakartvelo» Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 «Gladiators of Rome»; «Coma»; «Escape from Planet Earth» 3D (Ticket Price: 4 - 8 GEL)

Theatre Rustaveli Theatre 17, Rustaveli Ave. Tel: 272-68-68 Psychosis 4:48 Director: Kita Rokva Cast: Beso Zanguri Date: May 2 Hall: Grand Stage Time: 19:45 Price: 8 GEL Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 Beauty Queen - Premiere Director: Guram Vashakidze Date: May 2 Hall: Theatre in Attic Time: 20:00 Price: 11 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 Honeymoon Director: Maya Doborjginidze Cast: Mariam Jologua, Salome Chulukhadze, Natia Kvashali Date: May 2 Time: 19:00 Price: 6, 9, 11 GEL Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 29578-74, 295-39-27 Kukaracha Director: Shalva Gatserelia Duration: 110 minutes Date: May 2 Hall: Big Stage Time: 19:00 Price: 7, 10 GEL Gabriadze Theatre 13,Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 Ramona Marionette Theatre Author and Director: Rezo Gabriadze +10 years Date: May 2 Time: 20:00 Price: 5, 10, 15 GEL

May 3, 2013

Clubs, Pubs… SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Agora Live Band, DJ Datuna MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Live Music; After 01:00 – Karaoke Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259

69 69; Mob: 598 59 69 69 Every day from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Mghvime» Address: Left bank of Mtkvari River (next to shop «Riverside») Phone: 2 305 558/ 2 359 540; 599 56 60 72 Restaurant is working 24 hours Entertainment at the restaurant «Mghvime» is colorful. Every evening from 20:00 inextinguishable star of Georgian Estrada Gia Suramelashvili. Estrada ensemble «Mghvime» (3 boys and one girl), tam-tam, violin. During weekdays: Singer, composer Kaki Bolkvadze and hot Georgian and Asian dances Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Tavern «Scarlet Sails» 25, Leselidze Str. Tel: 293-10-28 22:00-01:00 - Group «Comic Condition» Restaurant «Maidan» 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Maidan Jazz Band Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Maia Baratashvili Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Zarebi» (Covers)

Cinema «Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Scary Movie V»; «Oblivion» 3D; «G.I. Joe: Retaliation» 3D; «The Machine Which Makes Everything Disappear»; «The Croods» 3D; «Coma» (Ticket Price: 7,50 - 11,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Scary Movie V»; «The Place Beyond the Pines» «The Croods» 3D (Ticket Price: 7,50 - 11,50 GEL) «Sakartvelo» Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 «Gladiators of Rome»; «Coma»; «Escape from Planet Earth» 3D (Ticket Price: 4 - 8 GEL)

Irina Kvizhinadze, Valery Kharutchenko, Nana Darchiashvili, Oleg Mchedlishvili Duration: 110 minutes Date: May 4 Time: 18:00 Price: 5 GEL Gabriadze Theatre 13,Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 Ramona Marionette Theatre Author and Director: Rezo Gabriadze +10 years Date: May 4 Time: 20:00 Price: 5, 10, 15 GEL

May 4, 2013

Clubs, Pubs… SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Veriko Turashvili & Live Band, DJ Datuna MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Live Music; After 01:00 Karaoke Restaurant «Mghvime» Address: Left bank of Mtkvari River (next to shop «Riverside») Phone: 2 305 558/ 2 359 540; 599 56 60 72 Restaurant is working 24 hours Entertainment at the restaurant «Mghvime» is colorful. Every evening from 20:00 inextinguishable star of Georgian Estrada Gia Suramelashvili. Estrada ensemble «Mghvime» (3 boys and one girl), tam-tam, violin. During weekdays: Singer, composer Kaki Bolkvadze and hot Georgian and Asian dances Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Every day from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Tavern «Scarlet Sails» 25, Leselidze Str. Tel: 293-10-28 22:00-01:00 - Group «Comic Condition» Restaurant «Maidan» 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Maidan Jazz Band Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Keti Paresashvili Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Rustavi 2» (Covers)

Cinema «Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Scary Movie V»; «Oblivion» 3D; «G.I. Joe: Retaliation» 3D; «The Machine Which Makes Everything Disappear»; «The Croods» 3D; «Coma» (Ticket Price: 7,50 - 11,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Scary Movie V»; «The Place Beyond the Pines» «The Croods» 3D (Ticket Price: 7,50 - 11,50 GEL) «Sakartvelo» Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 «Gladiators of Rome»; «Coma»; «Escape from Planet Earth» 3D (Ticket Price: 4 - 8 GEL)

Theatre Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 God! Save us and People Director: Avto Varsimashvili Cast: Kakha Mikiashvili, Apolon Kublashvili, Dima Merabishvili, Tiko Kordzadze, Mariam Nadiradze, Salome Chulikhadze Date: May 4 Time: 20:00 Price: 6, 12 GEL Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06 Marriage Director: Avtandil Varsimashvili Cast: Mariam Kitia, Apolon Kublashvili,

May 5, 2013

Clubs, Pubs… SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Agora Live Band, DJ Datuna Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Every day from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Mghvime» Address: Left bank of Mtkvari River (next to shop «Riverside») Phone: 2 305 558/ 2 359 540; 599 56 60 72 Restaurant is working 24 hours Entertainment at the restaurant «Mghvime» is colorful. Every evening from 20:00 inextinguishable star of Georgian Estrada Gia Suramelashvili. Estrada ensemble «Mghvime» (3 boys and one girl), tam-tam, violin. During weekdays: Singer, composer Kaki Bolkvadze and hot Georgian and Asian dances Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Restaurant «Maidan» 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 20:30 - Georgian folk ensemble «Urmuli», georgian dances Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Live Band Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Rustavi 2» (Covers)

Cinema «Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Scary Movie V»; «Oblivion» 3D; «G.I. Joe: Retaliation» 3D; «The Machine Which Makes Everything Disappear»; «The Croods» 3D; «Coma» (Ticket Price: 7,50 - 11,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Scary Movie V»; «The Place Beyond the Pines» «The Croods» 3D (Ticket Price: 7,50 - 11,50 GEL) «Sakartvelo» Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 «Gladiators of Rome»; «Coma»; «Escape from Planet Earth» 3D (Ticket Price: 4 - 8 GEL)

Concert

Tbilisi Event Hall 1, Meliqishvilii Str. Tel: 299-00-99 Jazz Series 21:00 - Lee Ritenour Band @ Tbilisi Event Hall (Ticket Price: 60, 90 GEL)

For more information, please, visit the following website: www.info-tbilisi.com E-mail: afisha@info-tbilisi.com

CMYK

HEADLINE NEWS & ANALYSIS

green business

29 April, 2013 | finchannel.com

AmCham Focusing on Green Business The FINANCIAL By Mariam Papidze

he CSR Committee of the American Chamber of Commerce in Georgia (AmCham) intends to strengthen its corporate social responsibility and green directions and raise awareness of these in the regions of Georgia this year. “The concepts of CSR and Green Business are more or less understandable to the companies operating in Tbilisi, but there is a huge problem with low awareness in the regions of the country,” said Margo Zhiznevskaya, Head of the CSR Committee at AmCham and CEO and owner of Financial Brokers Georgia. “The AmCham CSR Committee is going to hold trainings in the regions to raise awareness of CSR there. In general 2013 will be the most successful year for developing CSR in Georgia as British Petroleum has started a countrywide programme promoting CSR. This programme aims to raise awareness and implement CSR programmes on a countrywide scale. The project will involve many individuals and companies,” she added. Race for Boston and Earth hour held at the Sheraton Metechi Palace are some of the activities that the AmCham CSR Committee was involved in for the purpose of protecting the environment and being more eco-friendly. The Corporate Social Responsibility Committee at the American Chamber of Commerce was founded in the beginning of 2012. At that time there were 30 AmCham members who then became interested in the CSR Committee. Since then AmCham has been very active in implementing CSR projects in Georgia as well as contributing to the development of CSR throughout the country. “We have several goals and strat-

egies for 2013. These include assisting to develop a PR and advertising campaign to promote the image of businesses in Georgia; bringing economic development; cooperating with the anti-corruption concern under the Ministry of Justice on the relevant anti-bribery and anticorruption issues; developing a code of ethics template and policy manuals to be used by AmCham members and the wider business community,” Zhiznevskaya said. “Several factors contribute to the developing of CSR in general and among them one of the most important is competition. Competition drives companies to find alternative ways to attract more customers and business partners. Before, only big companies were involved in CSR activities as they thought it required too much money to develop CSR. But now, more and more small and medium-sized companies are becoming interested in CSR. Still, this tendency is not as big as it should be but the situation is changing rapidly and we hope to be able to see a very positive result in the near future. The reason why CSR activities are still not very big is that there is a lack of information in business communities as well as in society and the mass media,” she added. Q. What is the profit for those companies who are actively involved in CSR activities? A. Improving business processes inside and outside a company and raising its reputation are a result of CSR activities for companies. These results will bring further development to the business itself which will then turn into financial profit as well. If you are a company to work in, to work with and to buy from then you are definitely successful, with big profit. CSR is for creating a reputation for a company in the long term perspective, which will be reflected in its stability and a positive impact on the environment. This only happens

in the case of having the right CSR campaign. A campaign is not right when it is only associated with charity and simply throwing money at a problem. Q. How can a company plan the right CSR campaign to bring it profit? A. A company should ask itself: a) are my employees satisfied with the job they have? Do they feel the stability of the company and do they associate their private success to the company’s success? b) Is the company responsible to its suppliers, business partners? Are they comfortable with the company and its stakeholders? Will they choose the company over its competitors? Do they feel safe in cooperating with the company? c) Clients - are promises given to be promises kept? When they buy the company’s product or service do they feel as though they are part of the company’s CSR programme, global environmental programme? If a company has largely positive answers to these questions then it in all likelihood has a good CSR campaign. Q. What about the profit for customers? How will they benefit from CSR campaigns? A. First of all CSR will be beneficial for the employees of a company which is involved in CSR itself. If a company’s activity includes a negative impact on the environment, then they should try to do something positive at the same time to make up for it. In this way, the population always benefits. When this population are the buyers of the product and know that what is written on the package of the product is upheld, it means that they are getting benefit from a CSR-friendly company. As for the company’s expenses for implementing CSR projects, I think that at least 10 percent of its budget will be enough for this. It is absolutely possible to implement CSR projects with less expense and gain big profit in the long term perspective.

Renewable Energy Highest share in Sweden, Latvia, Finland and Austria The FINANCIAL

n 2011, energy from renewable sources1 was estimated to have contributed 13.0% of gross final energy consumption in the EU27, compared with 7.9% in 2004 and 12.1% in 2010. The share of renewables in gross final energy

consumption is one of the headline indicators of the Europe 2020 strategy. The target for the EU27 to be reached by 2020 is a share of 20% renewable energy use in gross final energy consumption. The national targets3 take into account the Member States’ different starting points, renewable energy potential and economic performance. Between 2010 and 2011, almost all Member States increased their share of renewable energy in gross final energy consumption. The highest shares of renewable energy in final energy consumption in 2011 were found in Sweden (46.8% of renewable energy sources in total con-

FINANCIAL

sumption), Latvia (33.1%), Finland (31.8%) and Austria (30.9%), and the lowest in Malta (0.4%), Luxembourg (2.9%), the United Kingdom (3.8%), Belgium (4.1%) and the Netherlands (4.3%). In 2011, Estonia was the first Member State to exceed its Europe 2020 target. Since 20045, the share of renewable energy in final energy consumption grew in all Member States. The largest increases during this period were recorded in Sweden (from 38.3% in 2004 to 46.8% in 2011), Denmark (from 14.9% to 23.1%), Austria (from 22.8% to 30.9%), Germany (from 4.8% to 12.3%) and Estonia (from 18.4% to 25.9%).

CMYK

FINANCIAL HEADLINE NEWS & ANALYSIS finchannel.com | 29 April, 2013

| places we strongly reccommend to visit | SANCHO

LITERATURULI CAFÉ

Tel: 2 519 966

23, Akhvlediani Str. Tel: 298 25 98

TSISKVILI

Queue

2, Tarkhnishvili Str. Tel: 244 45 46 31, Pekini Str. Tel: 231 30 57 22, Abashidze Str. Tel: 222 02 76 36, Kostava Str. Tel: 299 07 46

4, Besiki Str.

Hangar Bar

dining

PREGO 10, Paliashvili Str. Tel: 225 22 58

#1 Freedom squ. Tel: 2 240 241

Red Café Bistro & Cafe

15, Erekle II. Tel: 293 14 11 # 71 Vazhaphavela Ave. Tel: 2201 211 info@redcafe.ge

25, Tarkhnishvili Str. Tel: 225 25 16 # 20 Shavteli Str. Tel: 293 10 80

Beliashvili Str. Tel: 253 07 97

Belle Ville

BUFFALO BILL

French - European barrestaurant Pleasant and cozy atmosphere High quality service, live music every day

2, MarjaniSvili Str. Tel: 2 999 723

VERA STEAKHOUSE

COFFEE GE

Better seen than heard 27, Abashidze Str. Tel: 222 50 66

26, l.Kiacheli Str. Tel: 293 65 53

16, Akhvlediani Str. Tel: 293 60 52

DONUTS

VELTINS

DUBLIN IRISH PUB

Entree

Better seen than heard 10/12, Abashidze Str. Tel: 225 39 85

13 Taktakishvili Str. 20 Rustaveli Ave. 19 Petriashvili Str. 7 Pekini Str. 78 Chavchavadze Ave. (Bagebi) 86 Aghmashenebeli ave.

8, Akhvlediani Str. Tel: 298 44 67

43 Abashidze Str. Tel: 222 60 18

24 24/

DISCOVERY

4 Freedom Square, Tel: 254 70 30 tbilisi.fs@citadines.com

www.citadines.com

37, Kostava Str. Tel: 298 37 67

40, Chavchavadze Ave. Tel: 229 42 30

SIANG-GAN

PICASSO

41, Gamsakhurdia Str. Tel: 237 96 88

4, Vashlovani Str. Tel: 298 90 86

Tel.: 599 21 53 83

Segafredo Zanetti Espresso

ENGLISH TEE HOUSE

26, Chavchavadze Ave Tel: 222 36 77

5, Marjanishvili Str. Tel: 294 16 20 32, Paliashvili Str. Tel: 222 11 09

64, Paliasvili Str. Tel: 225 06 69

Prospero’s Books

34, Rustaveli Ave. Tel: (+995 32) 2923 592

For advertising please contact: 577 741 700 marketing@finchannel.com

BusinessTravelCom

Hotel and Airticket Booking: 2 999 662 | SKY.ge

CMYK

HEADLINE NEWS & ANALYSIS

green business

FINANCIAL

29 April, 2013 | finchannel.com

WISSOL GROUP BEING RESPONSIBLE FOR THE BETTER FUTURE

Advertiser: Wissol Group. Contact FINANCIAL Ad Dep at marketing@finchannel.com