Green Business 2012

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News Making Money

23 April, 2012

Oil

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

Environment

see on p. 13

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

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

M

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

Georgian website

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Golden sponsor:

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Energy Efficiency is Common Ground for Business Survival

see on p. 3

What is your Digital Personality?

The FINANCIAL

F

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

T

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

http://www.finchannel.com

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

T

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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© 2012 The FINANCIAL. Intelligence business publication written expressly for opinion leaders and top business decision-makers

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Copyright and Intellectual Property Policy The FINANCIAL respects the intellectual property of others, and we ask our colleagues to do the same. The material published in The FINANCIAL may not be reproduced without the written consent of the publisher. All material in The FINANCIAL is protected by Georgian and international laws. The views expressed in The FINANCIAL are not necessarily the views of the publisher nor does the publisher carry any responsibility for those views.

FINANCIAL

23 April, 2012 | finchannel.com

W

ith successful business activities of Wissol Group, we want to contribute to the economic development of Georgia and social well-being of its population. Strong business in its turn means employed people, technological and infrastructural development, highly professional human capital and sustainable development of the local economy. Besides, Wissol feels responsibility for environment protection and undertakes social investments, makes charity and implements community projects for social well-being of the society.

Therefore, accountability, transparency, respect for values, ethical business practices are what creates trust and what corporate social responsibility counts on.

The slogan for our CSR strategy is `We Create Better Future` and we try to deliver our promise with all our business practices.

Dr. Samson Pkhakadze The President of Wissol Group

Permissions If you are seeking permission to use The FINANCIAL trademarks, logos, service marks, trade dress, slogans, screen shots, copyrighted designs, combination of headline fonts, or other brand features, please contact publisher. “&” is the copyrighted symbol used by The FINANCIAL FINANCIAL (The FINANCIAL) is registered trade mark of Intelligence Group ltd in Georgia and Ukraine. Trade mark registration by Sakpatenti - Registration date: October 24, 2007; Registration N: 85764; Trade mark registratrion by Ukrainian State Register body - Registration date: November 14, 2007.

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To be included in the list please contact distribution department at: distribution@finchannel.com contact Us eDITOR-IN-cHIEF zVIAD pOCHKHUA E-MAIL: editor@financial.ge editor@finchannel.com Phone: (+995 32) 2 252 275 hEAD OF mARKETING lALI jAVAKHIA E-MAIL: marketing@financial.ge marketing@finchannel.com Phone: (+995 577) 74 17 00 consultant mamuka Pochkhua E-MAIL: finance@financial.ge Phone: (+995 599) 29 60 40 head of distribution department Temur tatishvili E-MAIL: distribution@financial.ge Phone: (+995 599) 64 77 76 Copy Editor: Iona MacLaren Communication manager: Eka beridze Phone: (+995 577) 57 57 89 Photo Reporter: KHATIA PSUTURI Mailing address: 17 mtskheta Str. Tbilisi, Georgia OFFICE # 4 PHONE: (+995 32) 2 252 275 fax: (+95 32) 2 252 276 E-mail: info@finchannel.com on the web: www.financial.ge daily news: www.finchannel.com

Intelligence Group ltd. 2012

Khachapuri Index is exclusively provided to The FINANCIAL by ISET

April 2012

KhachapuriIndex AS A MEASURE OF PRODUCT VARIETY AND MARKET INTEGRATION

K

h-Index has been on a downward trend across the entire country since the very beginning of 2012. At the same time, last month we started seeing an increase in the gap between the most and least expensive cities in our survey. This gap comprised 0.27 GEL in March 2012, compared to 0.21 GEL in February and only 0.12 GEL in January.

Prices are higher in east Georgia (in Tbilisi and Telavi) and lower in the west (Kutaisi and Batumi).

Cities in our survey differ not only in the level of prices. They also differ in the kind of shopping experience they offer khachapuri lovers. In Tbilisi, we observe a relatively large variation in the prices demanded by vendors for seemingly similar staples. To capture the extent of this phenomenon across different locations, we calculated percentage differences between the minimum and maximum prices of the standard khachapuri “basket” for the main Georgian cities. What we find is that in Tbilisi the cost of this basket can vary by as much as 2535%, compared to “only” 10—25% in other cities. What can explain this systematic difference in arbitrage opportunities across cities of different size?

This difference can be explained in at least in two ways.

First, due to larger market size and central location, many more types of homemade cheese can be found in Tbilisi compared to, say, Telavi. It would be therefore logical to expect Tbilisi to exhibit a higher variation in the price of cheese and the khachapuri basket. Second, Tbilisi is a large and geographically segmented city with considerable arbitrage op-

Diffe erence (% %) between n the min nimum and d maximuum prices of the s standard khachapu uri “baskett” for the main Geoorgian citiies 40% % Tbilisi

35% % 30% %

Batumi

25% % 20% % 15% %

Kutaisi

10% % 5% % 0% %

portunities between its different markets (“bazari”). While product varieties and prices within each market can be more or less similar, there could be systematic differences among markets, adding to the overall city-level variation in prices.

Having more choice may be a good thing for Tbilisi consumers.

However, it also implies a longer and more complicated shopping process, involving (when possible) more tasting and price comparisons.

ECONOMICS LESSON OF THE WEEK: CARREFOUR ELEPHANT IN THE GEORGIAN RETAIL MARKET We have recently heard that the French retail giant Carrefour is entering Georgia. This is good news for the Georgian consumer.

Carrefour is the master or combining low prices with high (or at least decent) quality. Good quality price ratio and convenience are things the Georgian consumer is craving for.

But, as Zakaria Babutsidze writes in the ISET Economist

blog, there is much more to this event. “As the world’s second largest retailer, after Walmart, Carrefour commands a supply chain that circles the globe. For example, the milk on its shelves comes from Chile, rice from Thailand, salmon from Norway, bananas from Colombia, grapefruits from China, apples from France. The presence of Carrefour operations in Georgia gives our agricultural producers a great opportunity to get integrated into its global chain.

Getting Georgian products onto Carrefour shelves in other countries will not be easy. The company has two clear guidelines – quality and social responsibility. Business schools teach Carrefour’s experience of incorporating rural farmers in Ecuador into their supply chain as (partially) a social project. However, as any large business, Carrefour is also a very pragmatic company. It has to be assured of product quality and demand before committing its precious shelf space. That said, as the company seems to have chosen to enter the former Soviet Union space through the South Caucasus (Georgia will be the second country after Azerbaijan to host a Carrefour operation), and as “Georgia” is still a recognizable brand in the region, Carrefour’s arrival might hold an interesting opportunity for Georgia.

Carrefour’s entry may have two other positive side effects for Georgia. First, its entry may drive down markups in the retail business. Imported groceries can be

Current prices on gasoline and diesel Prices in GEL Regular 2.25 Euro Regular 2.30 Premium 2.38 Super 2.45 Diesel 2.30 Euro Diesel 2.47

Prices in GEL API Super API Premium API Diesel Euro Regular Regular Energy Diesel Energy

2.45 2.40 2.50 2.30 2.25 2.35

quite expensive in Georgia despite a lack of trade barriers. Commanding a global supply chain, Carrefour will be less affected by Georgia’s small market size and thus will apply a lot of pressure on incumbent retail networks such as Goodwill, Populi and Gmart.

Another positive “externality” from Carrefour’s expected entry its impact on the decision of other multinational companies whether or not to set foot on the Georgian soil. The ability to learn from Carrefour’s experience may reduce the perception of risk and the cost of entry for others. Of course, retail, like any other industry, has its specificity. But businesses, large and small, have many similar concerns: quality of the labor force (e.g. discipline and loyalty), quality of suppliers, ability to enforce contracts, ease of dealings with city government and national tax authorities, etc. All of these will be put to a serious test by Carrefour. The elephant in the Georgian china store.

The ISET Khachapuri Index The ISET Policy Institute (ISET-PI, www.iset-pi.ge) is an independent think-tank associated with the International School of Economics at TSU (ISET). ISETPI has designed a simple and robust way of tracking inflation and the differences in the cost of living across Georgia’s major cities. Unlike traditional “consumer baskets” used for monitoring price inflation, our “basket” includes only those ingredients that are needed to cook one Imeretian khachapuri (cheese, butter, flour, yeast, eggs, and milk) and energy inputs (gas and electricity). We conduct a monthly survey of the major markets in Tbilisi, Kutaisi, Batumi and Telavi to measure the differences in the cost of living across Georgia and to track the monthly fluctuations in the prices of all relevant ingredients.

23 April, 2012, Georgia

Prices in GEL

Prices in GEL

Prices in GEL

Eurosuper 2.45 Premium Avangard 2.40 EuroPremium 0.00 Euroregular 2.25 Eurodeasel 2.50

Super Unleaded 98 2.45 Premium Unleaded 96 2.40 Regular Unleaded 93 2.25 Euro Diesel 5 10 PPM 2.50 Diesel L-62 2.30

Euro Super Efix Euro Premium Euro Regular 93 Efix Euro Diesel Euro Diesel

2.45 2.40 2.27 2.50 2.35

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Energy Efficiency is Common Ground for Business Survival The FINANCIAL

By Madona Gasanova

M

anufacturers will become the flagmen in Georgia in switching to energy efficiency (EE) as it becomes a strict economic obligation. “The majority of products in Georgia are imported from foreign countries. So these countries are ahead when it comes to energy efficiency. Energy capacity and product expenses are lower. Producing companies have to adapt and accept these conditions. Otherwise they will not survive,” Sophie Kemkhadze, Assistant Resident Representative at UNDP Georgia, told The FINANCIAL. “There are two things that hamper the development of energy efficiency in Georgia. The first is awareness and the second: absence of regulation. There are no regulations or stimulating factors for energy efficiency. All who implement this system are motivated by financial reduction incentives, not environmental,” said Paata Janelidze, Project Manager at UNDP Georgia.

“Energy efficiency becomes more assimilated on a domestic level. More families are trying to insert windows that will save heat. I am sure that construction companies will soon start building energy efficient houses,” Kemkhadze said.

“The energy saving potential for the companies could vary from 10 to 40% depending on the processes and technology used in the company. As for cost savings it also varies and directly depends on the energy intensity

of activities regarding EE in Georgia. “There were some standalone initiatives mostly at municipality level, in large determined by joining the Tbilisi EU initiative “Covenant of Mayors” that aims to decrease co2 emissions from municipal areas which Energy Efficiency is considered a main instrument of. Later three other Georgian cities became part of the CoM process - Kutaisi, Batumi and Rustavi,” Abulashvili said.

UNDP Georgia implemented energy efficient programmes during the years 2006/7/8 for 200 families in Racha. “We have good experience of implementing solar panels. “We supplied cattlebreeding regions with bio energy.

We are studying the potential of bio masses use. Nutshell brackets can be used as a heating resource,” Kemkhadze said.

According to Janelidze, besides consumption savings, we should take into account other benefits of EE: environmental, health, pollution and others. “People focused on EE should think complexly,” he said.

“Electricity or gas suppliers are interested in selling more products. In all developed countries, the USA or EU member states, there are special benefits for utility service suppliers. On the other hand, these companies carry the responsibility to promote energy efficiency. So, in developed countries this case is expanded to a governmental level,” Paata said.

A top tip that can make Georgia an energy efficient country is to be aware that in any energy transformation process there is energy efficiency potential and identify the biggest energy con-

of the company or in other words on the ratio of energy consumed per 1 GEL product produced, the higher this ration is the higher the economical saving could be,” said George Abulashvili, Director at the Energy Efficiency Center (EEC).

The modern history of EE history started in the 1970s and the main lead up to it was determined by oil shock. When oil consuming countries (or in another words developed countries, the economies of which were characterized by high energy intensity) started to solve energy security issues they realized that along with better management of the energy supply sector, huge potential is concentrated in the energy consumption side. Meanwhile countries with underdeveloped economies were not suffering that much from increased energy prices.

“And those obviously developed countries having historical “knowledge”, early start up and capacities to develop and realize sustainable medium and long term economic planning are more successful in EE as well. But no underdeveloped country will be successful in their economic goals without EE hence it is an integral part of the economic development process,” Abulashvili noted.

Kemkhadze said that during recent years there has not been significant progress in EE in Georgia. “Even constructors are doing it according to their own initiative. “Small initiatives have always existed but made up the minimum share and do not permit us to make any comparisons.”

In 2011 there was an increase

suming process to attack them.

“Considering that in Georgia the largest energy consumers are the buildings we live and work in, and in the buildings themselves above 45% of consumed energy is used for space heating, it would be worth starting from that segment,” Abulashvili explained.

According to Abulashvili tips for EE in buildings are following: • Test your home for air tightness. On a windy day, carefully hold a candle or a smoke pen next to your windows, doors, electrical boxes, plumbing fixtures, electrical outlets, ceiling fixtures, attic hatches, and other places where air may leak.

If the flame or smoke stream travels horizontally, you have located an air leak that may need caulking, sealing, or weather-stripping.

• Caulk and weather-strip doors and windows that leak air.

• Caulk and seal air leaks where plumbing, ducting, or electrical wiring comes through walls, floors, ceilings, and soffits over cabinets.

• Cover single-pane windows with storm windows or replace them with more efficient double-pane low-emissivity windows.

• Use foam sealant on larger gaps around windows, baseboards, and other places where air may leak out.

• Cover your kitchen exhaust fan to stop air leaks when not in use.

• Seal air leaks around fireplace chimneys, furnaces, and gasfired water heater vents with fire-resistant materials such as sheet metal or sheetrock and furnace cement caulk.

EU: At the age of 65, Around 8.5 million part-time both women and men workers in the EU27 wished to are expected to live a further 9 years in a work more hours healthy condition The FINANCIAL

The FINANCIAL

H

ealthy life years measure the number of years that a person can expect to live in a healthy condition1. When considering the population aged 65 years, life expectancy is provisionally estimated at 21.0 years for women and 17.4 years for men in the EU27 in 2010. As regards healthy life years, women at the age of 65 in the EU27 in 2010 were expected to live a further 8.8 years in a healthy condition, and men 8.7 years.

It is interesting to note that the Member States where the population has the highest life expectancy at the age of 65 are not necessarily the same as those with the most healthy life years at 65.

Another interesting aspect of these indicators is the difference between women and men. In all Member States, women have a longer life expectancy at 65 than men, while for healthy life years at the age of 65, men have a higher number of years than women in ten Member States.

Longest life expectancy at the age of 65 in France and Spain for both women and men

In 2010, the longest life expectancy at 65 for women was observed in France (23.4 years), Spain (22.7 years) and Italy (22.1 years in 2009), and for men in France (18.9 years), Spain (18.6 years) and Greece (18.5 years).

The shortest life expectancy at 65 for women was recorded in Bulgaria (17.0 years), Romania (17.2 years in 2009) and Slovakia (18.0 years), and for men in Latvia (13.3 years), Lithuania (13.5 years) and Bulgaria (13.6 years).

Most healthy life years at the age of 65 in Sweden for both women and men In 2010, the highest number of healthy life years at 65 for women was recorded in Sweden (15.5 years), Denmark (12.8 years), Luxembourg (12.4 years), Malta (11.9 years) and the United Kingdom (11.8 years), and for men in Sweden (14.1 years), Malta (12.0 years), Denmark (11.8 years), Ireland (11.1 years) and the United Kingdom (10.8 years). The lowest number of healthy life years for both women and men was observed in Slovakia (2.8 years for women and 3.3 years for men), followed by Romania (5.0 years) and Estonia (5.5 years) for women, and Latvia (4.9 years) and Estonia (5.3 years) for men.

A

mong the 42 million part-time workers in the EU27 in 2011, 8.6 million wished to work more hours, were available to do so1 and can therefore be considered to be underemployed. These accounted for 20.5% of part-time workers and 4.0% of total employment. In 2010, the corresponding figures were very similar: 41.3 million persons worked part time and 8.5 million were underemployed.

The largest proportions of people wishing to work more hours and avail-

able to do so among part-time workers were found in Greece (58%), Latvia (57%), Spain (49%) and Cyprus (42%), and these are Member States where the shares of employed persons working part-time are relatively low. On the other hand, the smallest proportion was found in the Netherlands and Belgium (both 3%), where part-time working is common, followed by the Czech Republic (10%) and Luxembourg (9%).

A potential additional labour force of almost 11 million persons in the EU27 Among the economically inactive population (those persons neither employed nor unemployed), there were

8.6 million persons aged 15 to 74 available to work, but not seeking2 and 2.4 million seeking work, but not available in the EU27 in 2011, compared with 8.2 million and 2.4 million respectively in 2010. While not part of the economically active population, both groups have a certain attachment to the labour market. Together these two groups constitute a potential additional labour force4 of 10.9 million people. In the EU27 these two groups were equivalent to 4.6% of the current labour force, a percentage varying between Member States, from 1.4% in the Czech Republic to 12.1% in Italy.

4

HEADLINE NEWS & ANALYSIS

green business

FINANCIAL

23 April, 2012 | finchannel.com

A Greener Tbilisi

The FINANCIAL

By Mariam Papidze

A

ccording to the latest data of the Ecology and Greenery Department of Tbilisi City Hall, there is in total 270.375 sq.m of green area in the capital. The number of growing trees and plants amounted to 60,000. About 30,000 plants were distributed amongst the population.

“Lots of trees were planted in the surrounding areas of Tbilisi Sea, the former Gldani rubbish yard and Khudadovi forest,” said Giorgi Korkashvili, Director of the Ecology and Greenery Department of Tbilisi City Hall. “Windbreak strips in Didi Digomi and Varketili have been transformed. This territory is under our patronage. We have started to make the territories greener.

As well as this we are working with some international organization like WWF. We are going to implement a three year project in the framework of our memorandum. The project envisages the restoration of 100 hectares of forest area around the city.

In regards to the aesthetic aspect of the city, we have a very important project on at the moment - reconstruction of the Jansug Khakhidze square and Baratashvili Bridge. The infrastructure of the rehabilitated squares, such as garden equipment and lighting, need to meet modern

international standards.

The first stage of rehabilitation of the old Mziuri Park has already been completed.

Outdoor lighting has been installed over ten hectares of the park, sidewalks has been added to the edges of the carriageways; new sidewalks added to old ones. About 400 different plants and decorative bushes have been planted. The park also has a modern drainage and irrigation system.

It is undoubtedly one of the most important projects of the city.

Q. How could you assess the ecological conditions of Tbilisi?

A. There is no exact information about the city’s ecological status, whether it is good or bad. That would require laboratory analyses, air stations, some technical equipment and finances as well. Unfortunately we cannot afford such a type of survey. We are working with some international organizations like WWF and GTZ and trying to attract donor companies to finance this project. The last survey about Tbilisi’s ecological conditions was conducted in 1999. This data showed that the conditions were quite normal and satisfactory. But we need to take into account that at the time there were not so many cars, or enterprises, and since then there has been a lot of construction of roads and buildings.

I can safely say that the conditions near Mziuri Park were terrible before we started its

Giorgi Korkashvili, Director of the Ecology and Greenery Department of Tbilisi City Hall

rehabilitation and construction of the new road there.

People were throwing rubbish in the area and the area was very polluted as a result. We cleared away the rubbish and cleaned the area. We carried out sanitary works. According to analyses done since, the conditions at Mziuri Park are much better now.

I would consider the surroundings of Tbilisi such as Kodjori and Tskneti to be the

best green areas of Tbilisi.

Q. How do you compensate for the loss of trees cut down for the implementation of various infrastructural projects?

A. Sometimes we really need to cut down trees as we need to free up space for the implementation of certain infrastructural projects. We only cut down trees if there is no way to avoid it. We replant these trees with special vehicles or plant

new ones in another place. The company which is implementing the infrastructural project and is cutting down the trees as a result, is the one that has to pay the restoration cost which is regulated by law.

Q. Are the citizens involved in urban ‘greening’ projects?

A. Lots of people call or come here every day and share their ideas with us. If their idea is realistic and is an important project, we usually take the decision to accept the idea. For example, some extreme sports artists and free-runners asked the Ecology and Greenery Department to allocate a place for them where they would be able to practice. We made the decision to create a place for them to train at Mziuri Park.

Citizens often ask us if they can participate in planting trees. In such cases we choose the place for the trees to be planted and then citizens are able to plant them under the control of specialists. First of all we examine the place where we plan to plant the trees or flowers and then choose what type of tree to plant.

As well as citizens some companies and schools are involved in making Tbilisi greener as well.

Q. What is the budget of the Ecology and Greenery Department of Tbilisi City Hall?

A. Our entire budget for this year is about 12 million GEL, which includes all activities

Russia’s Smartphone Penetration Lags Rest of BRIC The FINANCIAL

The FINANCIAL

S

martphones and tablets are becoming widespread worldwide, including in the BRIC countries, according to a December 2011 survey by UM. Interestingly though, the survey found smartphone penetration among internet users to be higher in the larger markets of China (59%), India (37%) and Brazil (35%) than in Russia (28%).

UM’s survey included only internet users who go online at least every other day; in less-developed markets these tend to represent some of the highest earners in their respective countries, as studies in Mexico and China have shown.

According to eMarketer, smartphone users represent a relatively small percentage of mobile phone users in Russia, 11.8% in July 2011, according to GfK Group. As forecast elsewhere in the world, expect smartphone penetration in Russia to increase as prices for both devices and data services drop in the future. eMarketer forecasts that internet users in Russia will reach 67.9 million in 2012, comprising nearly 50% of the country’s total population, compared to 42.4% in China, 42% in Brazil and 8.9% in India.

implemented by our department. This is not only the purchase of saplings and planting of greenery, but also processes of upkeep like watering, the laying down of manure etc.

Q. How many private partner companies do you have at the moment?

A. We have nearly 70 partner companies, including green service and green house, where more than 1,000 individuals are employed. Today these companies are in charge of making all the squares within the city greener.

Q. What are the current projects and future plans of the department?

A. There are plans to complete the second stage of the rehabilitation of Mziuri Park.

A pedestrian bridge will be built which will connect Mziuri Park to the Zoo. Sport stadiums will be built where kids will be able to play as well.

The park will have skateboard pitches, racecourses, bike paths, training grounds, halls, and places to enjoy picnics.

There will be a swimming complex Aqua which will include open and closed swimming pools, modern fitness club, sports stores etc.

As well as the reconstruction of big parks the restoration of small squares is also a target activity of our department. We have built and reconstructed plenty of squares around the city. The rehabilitation of Bukia Square and Vake Park are already planned.

3 out of 5 People in Developing Countries Lack Safety Nets

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ew data released by the World Bank showing that at least 60 percent of people in developing countries – and nearly 80 percent in the world’s poorest countries – lack effective safety net coverage as countries struggle to protect their most vulnerable citizens from the negative impacts of global financial volatility and food and fuel price hikes.

According to the World Bank , sixty six million children around the world go to school hungry and struggle to concentrate and learn, a deficit that can be addressed with school feeding programs for the poorest. More than 2.8 million newborns die in the first week of their lives. Many of these deaths can be prevented by providing more pre- and post-natal care for mothers and their children. Food insecurity leads to greater family conflict and divorce rates.

Expanding cost-effective safety nets – including cash transfers, food assistance, public works programs, and fee waivers – to help countries respond to crises and address persistent poverty will be a main item for discussion by finance and development ministers at the World Bank -IMF Development Committee meeting on April 21.

“Safety nets can transform people’s lives and provide a foundation for inclusive growth without busting budgets,” says Robert B. Zoellick, President of the World Bank Group. “Effective safety net coverage overcomes poverty and promotes economic opportunity and gender equality by helping people find jobs, cope with economic shocks, and improve the health, education, and well-being of their children.”

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FINANCIAL HEADLINE NEWS & ANALYSIS

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green business

finchannel.com | 23 April, 2012

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

F

ast-moving branded consumergoods companies have been competing with private labels for more than two decades. Technical superiority, creative marketing, and, more recently, efforts to differentiate at the point of sale have failed to hold off the competition from private labels. A new report by The Boston Consulting Group points to one remaining sustainable advantage: rapid time to market. The report, Speed to Win: How FastMoving Consumer-Goods Companies Use Speed as a Competitive Weapon, is being released today.

“Private labels have learned to match branded products in every important way,” said Ivan Bascle, a partner in the firm’s Munich office and a coauthor of the report. “But their business model limits their ability to bring out real innovations fast. That’s where the branded companies can thrive—if they move faster.” That speed can also give them the flexibility to thrive under the spotlight of social media, enabling them to respond quickly to consumer demands.

Bascle and his colleagues have seen a recent uptick in consumer brand projects around speeding up product development.

The team found a dozen “speed champions” representing each major product sector. These champions typically got new products to the marketplace—from the creative idea to the shelf—about 30 percent faster than the average company in their sector: in fewer than 15 months versus 22 (and 30 for laggards). This capability not only gave them an edge over private labels but also helped them compete against rival brands.

The differences were sizable whether the industry as a whole was quick in getting products to market, such as fashion (Zara, for example, requires only three weeks), or slower, such as alcoholic beverages and tobacco. “Companies in every kind of industry can become speed champions for their context,” said Bascle.

Time Is Money How did they do it? “The biggest step was simply making the organization aware that time is a major cost,” said Andreas Rainer, a consultant in BCG’s Vienna office and a coauthor of the report. Avon, for example, found that close to one-third of its development time went to simply waiting, while another third went to reworking previous efforts. To reduce those numbers, project teams established strict “change windows,” after which developers had limited ability to push for alterations.

Many speed champions base their success on the BCG methodology standardize, prioritize, mechanize. Procter & Gamble set up a rigorous stage-gate schedule that includes return-on-investment numbers showing the likely gains from speed. The company piloted this speed process in less capital-intensive categories such as detergent in the U.S. and started launching speed improvements in capital-intensive businesses such as its Pampers line of diapers, adding the ability to innovate up to twice a twice a year—a frequency that enabled it to reverse recent losses to privatelabel rivals.

Multi-Stakeholder Forum for Promoting CSR in Georgia The FINANCIAL

By Tako Khelaia

T

he Multi-Stakeholder Forum for The Role of Government and Public Policies in Promoting Corporate Social Responsibility will be held on 27 April.

The Forum is going to be organized at The Center for Strategic Research and Development of Georgia with the support of Friedrich-Ebert-Stiftung.

The aim of the Forum is to create a platform for dialogue on CSR issues.

“Corporate social responsibility (CSR) is an issue of global relevance in the modern day world. CSR is business’s willingness to assume more responsibility than obliged by the law, deliberately go beyond its primary function of profit making, voluntarily take care of the public welfare, and make a positive contribution to solving social and environmental problems,” noted Lela Khoperia, Corporate Social Responsibility Programme Coordinator.

“Accordingly the strength of this concept, apart from its moral value, is the diverse and long-term benefit that the introduction of social responsibility brings to all stakeholders. In this regard development of corporate social responsibility in Georgia will be highly beneficial for the country’s sustainable development. It will assist the improvement of foreign relations, and contribute to the accomplishment of strategic objectives of national policy,” Khoperia said.

“It will increase the country’s economic competitiveness, promotion of trade and attracting foreign investments, addressing socioeconomic and environmental challenges, improving living and working conditions. The concept and practicing of corporate social responsibility are being gradually introduced and established in our country,” Khoperia stated.

The Forum will be dedicated to several issues about CSR; Its importance for the country’s development; Possible positive impacts of CSR development; Drivers and obstacles for CSR development in Georgia - business perspective; Roles of government in promoting CSR; Possible directions of CSR enabling public policy in Georgia.

“CSR is a bit of a new subject for Georgia. But as time passes it finds its niche in society, in different sectors and business practices. In 2007 our organization held a social survey which proved that most of the leading Georgian companies are implementing a variety of interesting initiatives and programmes in the direction of CSR. Five years have passed since then and the CSR mentality has significantly increased,” Khoperia said.

“The number of socially responsible programmes has also increased.

Those companies which aim to have relations with Western companies, export products to foreign markets and gain leading positions on the local market pay more attention to CSR standards. Business associations, non-governmental and internation-

al organizations are implementing more initiatives for supporting CSR,” Khoperia said.

“A vastly important factor is the activities of civil society and the Government. In Western countries, CSR is actively promoted by the Government. In order to develop CSR activities further, the Government of Georgia should definitely be involved in the case. Special policy and activities should be created towards the issue,” Khoperia added.

According to Khoperia the Forum will move forward CSR mentality and education which is very important for the country.

“It’s a well known fact that countries’ governments should support and promote CSR. Many developed countries’ governments are implementing active policy towards this direction. Participating in the Forum is substantial as the main theme of the Forum is importance of civil society and government involvement in CSR activities. We are happy that members of the Georgian Government are interested in our forum and are taking part in it,” Khoperia said.

“We will continue arranging different forums, conferences and round table meetings for the future.

Such activities have a key role in improving the knowledge and mentality about CSR in different sectors. Such events support the dialogue between different sides. Arranging conferences and forums are the best supporters of CSR in the European Union as well as in many other developed countries. It’s widespread practice in

many countries,” Khoperia said.

“Our organization has worked in this sphere for seven years already.

Development and support of CSR in Georgia is one of our organization’s top priorities. We have arranged many forums, conferences, meetings and trainings on CSR and we will keep working actively in this regard.

It’s a bit hard to speak about the result beforehand but we hope that this forum will have quite a good result,” Khoperia said.

“The target groups of this forum aren’t only business companies. The Forum will reach representatives of various sectors: the Government of Georgia, civil society organizations, international organizations, experts from the relevant fields. This forum is the first initiative in Georgia connected with the role of government and public sector in the development of CSR. We do hope that the Forum will be successful,” Khoperia stated.

The Forum will include book presentation: The Role of Government and Public Policies in Promoting Corporate Social Responsibility (analytical overview and recommendations to the Georgian Government) prepared by The Center for Strategic Research and Development of Georgia in collaboration with invited experts will also take place at the Forum.

Prof. em. Dr. Hans-Georg Petersen, (Chair of Public Economics, University of Potsdam and Policy Fellow, IZA Bonn) will make a presentation concerning the EU experience in promoting CSR and relevant public policies.

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

T

he developing world’s progress is seriously lagging on global targets related to food and nutrition, with rates of child and maternal mortality still unacceptably high, says the Global Monitoring Report 2012, released today by the World Bank and the International Monetary Fund.

Recent spikes in international food prices have stalled progress across several of the Millennium Development Goals (MDGs), the report says.

GMR 2012: Food Prices, Nutrition and the Millennium Development Goals reports good progress across some MDGs, with targets related to reducing extreme poverty and providing access to safe drinking water already achieved, several years ahead of the 2015 deadline to achieve the MDGs. Also, targets on education and ratio of girls to boys in schools are within reach.

According to the World Bank , in contrast, the world is significantly

off-track on the MDGs to reduce mortality rates of children under five and mothers. As a result, these goals will not be met in any developing region by 2015. Progress is slowest on maternal mortality, with only one-third of the targeted reduction achieved thus far. Progress on reducing infant and child mortality is similarly dismal, with only 50 per cent of the targeted decline achieved.

“High and volatile food prices do not bode well for attainment of many MDGs, as they erode consumer purchasing power and prevent millions of people from escaping poverty and hunger, besides having longterm adverse impacts on health and education,” said Justin Yifu Lin, the World Bank ’s Chief Economist and Senior Vice President for Development Economics. “Dealing with food price volatility must be a high priority, especially as nutrition has been one of the forgotten MDGs,” he added.

GMR 2012 details solutions for making countries and communities more resilient in the face of food price

spikes. Countries should deploy agricultural policies to encourage farmers to increase production; use social safety nets to improve resilience; strengthen nutritional policies to improve early childhood development; and design trade policies that enhance access to food markets, reduce food price volatility and induce productivity gains.

However, the challenges countries face in responding to high food prices have been made more difficult as a result of the global recession.

“The fragile global economy could very well slow developing countries’ progress on human development goals, since the fiscal, debt, and current account positions, particularly of low income countries, have been weakened by the global financial crisis,” said Hugh Bredenkamp, Deputy Director of the IMF’s Strategy, Policy and Review Department.

Regional progress towards the MDGs is uneven. While upper middle income countries are on track to achieve most targets, low-income or fragile countries are lagging, with only two goals achieved or on-track.

While food prices have declined from their 2011 peaks, commodity prices remain volatile.

“To help deal with volatility, more developing countries are complementing their fiscal and monetary policy responses with insurance or hedging operations, such as selling crops in forward markets. This can be part of a broader strategy for managing risks like natural disasters and swings in commodity prices,” said Lynge Nielsen, Senior Economist at the IMF. Jos Verbeek, Lead Economist at the World Bank and lead author of GMR 2012, cautioned that declining development assistance, population growth and high food prices will make the need to focus on nutrition programs for the poor even more challenging.

“According to our projections, an estimated 1.02 billion people will still be living in extreme poverty in 2015.

Clearly, assistance must be leveraged in new ways if we are to improve food security and nutrition, particularly for the poor and vulnerable,” said Verbeek.

Nestlé joins research effort to further improve products’ environmental performance The FINANCIAL

N

estlé is joining a new research partnership between industry and academia that aims to improve the environmental performance of consumer products and services.

The company is the only global food and beverage manufacturer to join the ‘International Chair in Life Cycle Assessment’ unit at the Interuniversity Research Centre for the Life Cycle of Products, Processes and Services in Montreal, Canada.

According to Nestlé, life cycle assessment is the most widely used scientific methodology for assessing products’ overall environmental impact.

CIRAIG is one of the largest re-

search centres of its kind in the world. It generates new life cycle assessment knowledge, methods and tools, and shares these with its industry partners.

Nestlé is supporting its work with an investment of 500,000 Canadian dollars (almost CHF 460,000).

What is a life cycle assessment?

-- Life cycle assessments measure a product’s environmental impacts across the entire value chain: from ingredient sourcing to processing and manufacturing, its use by consumers and how its packaging is disposed of or reused.

Nestlé’s approach to using life cycle assessments in all its product categories has enabled it to systematically improve the environmental performance of many of its popular

products and systems.

“This partnership will help us expand our knowledge of life cycle assessments,” said Nestlé scientist Urs Schenker.

“We use them when developing products to measure areas of environmental impacts, for example water use in agriculture, CO2 emissions in manufacture, and the amount of energy used in distribution.”Consumer communication “The partnership will also help us to provide consumers with improved information about our products’ environmental performance, helping them make more informed decisions about what they buy,” added Mr Schenker.

“Online graphics such as the ones created by our Nescafé brand can help people understand the life cycle

concept in an interesting and accessible way.”

Eco-design tools -- As part of its product development process, Nestlé also conducts quicker versions of life cycle assessments using a selection of simple ‘eco-design’ tools.

One of these is the Packaging Impact Quick Evaluation Tool (PIQET), which can evaluate the environmental impact of packaging over its entire life cycle.

Such tools allow Nestlé to evaluate life cycle data early in the design stage, allowing the company to make modifications to improve products’ future environmental performance while they are still being developed.

Nestlé is currently developing a new eco-design tool which it plans to roll out later this year.

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23 April, 2012 | finchannel.com

Dr. Samson Pkhakadze, President of Wissol Group

Wissol to Expand CNG Stations in 2012 The FINANCIAL

By Tako Khelaia

A

s one of the main directions of CSR at the Wissol Group is caring for the environment and preventing environment pollution as much as possible, Wissol Petroleum Georgia, one of the leading petroleum companies in Georgia, plans to expand CNG stations in different regions of Georgia this year. According to Dr. Samson Pkhakadze, President of Wissol Group, CNG is safer, not corrosive, has no additives and is more economical than traditional fuels like gasoline or diesel.

Wissol provides CNG customers with the gas supply system of world known company ASPRO. Wissol Petroleum Georgia is one of the first companies to provide the top quality Compressed Natural Gas (CNG) products. CNG is an environmentally clean alternative to fuels. It reduces harmful pollutants and exhaust emissions.

“The sharp rise of oil prices in Georgia has increased demand for CNG. The number of CNG customers has increased by 50% at our stations in recent times. When oil prices on the international market increase, the cost of all fuel products rise. We have to adapt our prices corresponding to international demands. We are providing six products at Wissol stations,” Pkhakadze stated.

“We offer our customers mostly Italian products. We

also have products which aren’t imported from Europe, specially for those customers with lower incomes. Unfortunately prices on all of the products have increased recently, but we have managed to improve the cost of fuel a bit by decreasing it by 0.05 GEL,” Pkhakadze said.

“We care greatly about environment protection and within the frames of CSR strategy we are involved in different activities to support a cleaner environment. We are an oil company, so there is a certain risk of harming the environment. But despite this fact we have special filters for oil evaporation in our system. Our gas stations are equipped with ultra modern technologies which reduce the level of environment pollution therefore,” Pkhakadze stated.

“Although we represent an oil company, we are doing our best to reduce bad effects on the environment as much we are able to. If we are polluting the environment in any way, we invest expenses in a different direction in order to reduce the level of harm to the environment. We support activities which are making our country ecologically cleaner,” Pkhakadze said.

According to Pkhakadze the company has special LED lights which reduce expenses and have less of an effect on environment pollution. “We are trying to implement the newest technologies at the company according to which we will consume less electricity. At the moment we are holding negotiations at the

Although we represent an oil company, we are doing our best to reduce bad effects on the environment as much we are able to

company about a new project which will make us reduce energy consumption significantly over the next three to five years,” he added.

“Wissol has a Gas Distribution company which has been supplying Telavi Region with natural gas since March 2008. Consequently, up to 15,000 subscribers are already supplied with natural gas in the Telavi region. Gas supply of the area contributes to local industry development and is very important in an ecological respect. Wissol Gas Distribution is quite a successful and profitable company and we will support its further development with great pleasure,” Pkhakadze said.

Wissol Group started the year 2012 quite actively. One of the biggest challenges for the company this year was bringing the world famous brand Wendy’s to the Georgian market.

“This year we have many novelties. From the beginning of the year we have been working intensively on those new directions. In April 2012

we reported on our new business direction. We presented new company Wendy’s Georgia to society. In two weeks our partners from Wendy’s will arrive in Georgia and we will be taking some concrete steps in this business. We are actively working on the issue as it is one of the most important directions for our company,” Pkhakadze said.

“Wendy’s will be successfully placed among its competitors in Georgia. As the time passes demand for Wendy’s products will increase.

People will definitely visit Wendy’s often as this restaurant offers the highest quality products to customers.

The company appeared on the market in 1969. Everyone recognises the significance of Wendy’s entrance to Georgia.

Wendy’s will satisfy the needs of every segment and people of all ages in Georgia. Products at Wendy’s will not be expensive. Prices will be flexible and therefore affordable for middle and lower-income segments as well,” Pkhakadze said.

“We are also spending

much time and energy on the further development of the Smart supermarket chain.

This year we are planning to open several new supermarkets. This work demands a lot of resources, effective work, energy and time. We are doing our best to create an effective network of Smart supermarkets,” Pkhakadze said.

At the moment Wissol Group employs about 4,000 people and is one of the largest employers on the Georgian market. Wissol pays much attention to the development of Sport in Georgia and has owned the legendary football club FC Torpedo Kutaisi since 2010.

“Supporting football is a very special, and one of the most favourite, directions for our company. The aim of Torpedo Kutaisi at the moment is to be included in the top three national teams and receive a ticket to the European league.

It will be the biggest success for us. We are trying to develop this direction with all of our might, but in the end it’s football and everything depends on luck,” Pkhakadze said.

“We love Torpedo Kutaisi.

This football club doesn’t just belong to Wissol Group, it belongs to the whole of Georgia.

We are feeling huge respect and love towards Torpedo Kutaisi from Georgian fans.

This fact is an additional stimulating factor for us in developing this legendary football club,” Pkhakadze said.

Wissol developed AutoExpress stations on the local market which is the only chain of the auto service centres in

Georgia. The company has the exclusive right to distribute French TOTAL oils and lubricants in the country. In addition Wissol AutoExpress offers tires, the conversion of vehicles to gas and vulcanization services.

“We are the representatives and official distributors of one of the widest French oil companies - Total. We offer people Total products which are aimed at the upper middle class segment. Now we have started importing FINA brand products from Total Group, which is focused at the middle classes. We are going to import Italian oils and lubricants to our chain in the nearest future. We will add several Auto Express service centres in different regions of Georgia this year,” Pkhakadze said.

According to Pkhakadze, there is healthy competition among leading oil companies on the local market. He believes that competition makes companies stronger and more active.

“Under the frames of healthy competition, all of the oil companies have found their own niches on the market. The existence of competitors on the market makes our business better and more trustful. Customers always gain profit from existing competition as infrastructure, service and product quality improves greatly as a result.

Although it is really expensive, we will keep importing the highest quality Italian products to the market. There is big demand for Italian products among our customers,” Pkhakadze said.

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FINANCIAL HEADLINE NEWS & ANALYSIS finchannel.com | 23 April, 2012

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WISSOL GROUP BEING RESPONSIBLE FOR THE BETTER FUTURE

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

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Corruption - Bottom of List of Problems Businesses in Georgia Face, IFC Survey 2012 The FINANCIAL

By Nana Mghebrishvili

T

he majority of Georgian businessmen consider the business environment as more or less attractive, as measured by their perception of recent legislative reforms, according to the latest Georgia Business Perception Survey conducted by IFC in 2012. The survey shows that the main problems of businesses are access to finance, tax burden and utility costs. Corruption is in last place out of the problems firms face.

“This is a very interesting survey and describes the real situation quite well. This data could be generalized for the whole country,” said Giorgi Pertaia, Business Ombudsmen. “But I don’t agree that taxes are high. This survey shows the feelings of businessmen. They may really pay high taxes, but not because the burden is high, because the taxable base is big and they have to pay a lot.”

“I consider the main problem that only large businesses plan to expand.

Only a minority of small and medium businesses think about expanding.

But this isn’t new for our country,” he added.

42 percent of businesses suggest reducing taxes to improve the business environment.

“Better communication with businesses in the regions is vital now.

Awareness of new reforms isn’t so high in the regions and this needs to be improved quickly,” Pertaia explained.

The survey shows that larger firms had better growth results in 2011 compared to smaller firms, which were more likely to decline. 52 percent of large businesses grew in 2011, while 43 percent of small businesses declined. 62 percent of large firms plan to expand in the future, while only 29 percent of small ones do it.

Firms name the low purchasing power of the population as the main reason for the decline of business. On the other hand, businesses name increased demand for growth.

The survey is mainly dedicated to the Georgian Tax Simplification Project. The share of inspected enterprises was 35 in 2011 and 33 in

2010. Smaller firms are inspected more frequently. Trade firms are inspected more than businesses engaged in other activities. However, the inspection duration is shorter in trade firms than in construction and manufacturing. Inspections are less frequent in Tbilisi than in the rest of the country. One third of inspected firms are penalized, which is 16 percent among all firms. The majority of penalties and fines are for the misuse of cash registers.

The majority think that information on legislative changes is accessible, and only 10% complain that it is not. TV and government websites represent the major information

sources for legislative changes. The option of alternative tax audit and elimination of chronometry penalties are the most appreciated reforms, as opposed to legislative changes associated with cash registers.

“The reforms in the tax system are really great,” said Fady Asly, Chairman of the International Chamber of Commerce. “The revenue service is building confidence between businesses and itself. I suppose that this confidence will grow and become the same confidence which now exists between the population and the police.”

“In general we have huge GDP growth. This is unprecedented growth compared to our neighbour

countries. This is more than in some OPD countries even. Georgia is attracting more and more international investors,” he claims.

Giorgi Isakadze, Head of Georgian Small & Medium Enterprises Association (GSMEA), predicts that results in the 2013 survey will be better.

“The reforms in the tax system implemented by the Revenue Service are still new and lots of businesses don’t know about them,” Isakadze explained. “So the results of these changes aren’t seen in this survey. As for some claims made by small businesses, this is objective because they really lack finances. We have to work intensively to solve these problems as well.”

“This survey sheds light on Georgia’s outstanding progress in combining corruption and improving the environment for business,” said Thomas Lubeck, IFC Regional Manager for the South Caucasus. “It also highlights areas for improvement in the implementation of regulations.

We are committed to working with the Georgian Government to continuously improve the environment for private business and help entrepreneurs benefit from recent reforms.”

This survey was conducted in January-February 2012. Owners and managers of 1,029 active firms were surveyed by face-to-face interview.

365 were small entrepreneurs with annual revenue of less than 100,000 GEL out of the whole amount. 398 were medium ones with revenue between 100,000 and 1,500,000 and 267 large ones with revenue greater than 1.5 million. Firms were stratified by size, sector and region.

Georgia Becoming Eco-Destination The FINANCIAL

By Nana Mghebrishvili

T

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 potential 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.

Eco-tourism is responsible travel, close proximity to nature, an alternative way to travel that respects the environment and improves the conditions of local communities. It’s a broad term that comprises various activities - from sports like rafting to culture like studying the traditions of Svaneti’s towers.

Ranked 12th country in the world for its biodiversity, the sector has great opportunities in Georgia. Almost half a million hectares are Protected Areas in Georgia, about 7 percent of the country’s territory.

About 75 percent of these are covered by forests. There are 14 Strict Nature Reserves, 8 National Parks, 12 Managed Nature Reserves, 14 Natural Monuments and 2 Protected Landscapes in Georgia.

“Currently Georgia holds a niche of cultural and adventure destination,” Sidamonidze told The FINANCIAL. “But we are developing other directions as well including eco-tourism. For example in 2010 3 percent of all tourists came for MICE but in 2011 the number totalled 10 percent.

The number of visitors for ecotourism is predicted to grow as

rapidly as this as well.”

“Currently we are working to promote health-tourism in Georgia and in September we will be starting intensive work on eco-tourism development,” she added.

Q. How would you assess the potential of ecotourism in Georgia?

A. Georgia is very strong in this direction. Eco-tourism is one of the directions which is in the process of development.

Lots of tourists will come here for the green treasures which the country possesses. There are plenty of protected areas and natural reserves in all the regions of Georgia. Eco-tourism is very important because of its concept as well. This automatically means that these sorts of tourists are preserving the environment and community where they travel to. Lots of travellers love the inherent nature of Georgia. This direction of tourism is developed in many countries and I think that it will soon be booming in Georgia.

Q. Which region is the most attractive in terms of eco-tourism? Which one receives the most ecotourists?

A. Each region of Georgia has big potential for tourism development and especially for eco-tourism. Western as well as Eastern Georgia is rich in terms of natural treasure. While Kakheti has three protected areas, Samegrelo is well-known for its canyons.

But still lots of visitors travel to the protected areas and especially in Kakheti as there are several of them there. BorjomKharagauli Park plays a vital role in the development of ecotourism. Racha is very important as well.

Q. What projects are being implemented currently in terms of eco-tourism development?

Maia Sidamonidze, Head of the GNTA

According to the official prognosis Georgia is expecting 3.5 million foreign visitors in 2012. We have received 700,000 tourists thus far in the first quarter of 2012, which is 40 percent more compared to the same period of 2011. Still the majority of tourists are coming for cultural tours.

A. The fact that Georgia has such big potential in this sphere must be advertised. We are working to increase access to this information across the world. We bring travel agen-

cies and journalists specifically to info-tours. Later these journalists write about Georgia as an eco-destination. Meanwhile we also participate in many exhibitions and fairs in many

countries. All these support eco-tourism development in the country. We are making special tourist lines and these give the possibility to foreigners to plan their tours themselves.

Q. Is eco-tourism a profitable direction of tourism in general?

A. Certainly! The latest global tendencies show that more and more people are travelling to countries where the ecological situation is good and they have access to ecological products. This trend is fastgrowing. Practice shows that wealthier people prefer such tours and therefore they spend more. So development of ecotourism is quite profitable for Georgia.

Q. Which are the main countries where there is demand for eco-tourism?

In which countries do you promote Georgia as an eco-destination?

A. The biggest demand comes from Western Europe, America and Asia. Therefore we promote Georgia in these regions. Tourists from Georgia’s neighbouring and other post-soviet countries come mostly for sea and winter resorts as well as for MICE tourism. We have diversified products for a diversified market and this is great.

This gives us more possibility to develop more products on higher levels.

Q. Which position does eco-tourism hold among tourism directions in terms of the number of tourists in Georgia?

A. Eco-tourism is in the first three directions. Cultural tourism holds first place as more and more people are interested in the culture of Georgia. Then comes MICE tourism, recreation and adventure tourism combined with eco-tourism.

This is quite a good indica-

tor but the potential is much higher. Awareness has to be increased. On the other hand, routes have to be established and marked.

Q. What are the main problems impeding the development of eco-tourism?

A. We are in the process of developing this direction. So first of all the development of products is very important.

Joining international organizations working for the development of eco-tourism is very important as well. We have to study the demand and offer new products accordingly. We have to package our products so that lots of tourists come for them.

The lack of purity and cleanness in some places is a problem as well. Cleanness is the most important thing for ecotourism. We are working on this and hope to find a solution to the problem soon.

Q. What about service quality, isn’t it a problem for eco-tourism development?

A. Everything depends on the level of development.

When there is increased demand, quality of service will grow as well. Quality of service is already developed up to a certain extent in Georgia and this process continues to develop. Protected areas and natural preserves have their own guides and rangers. This is already good. Quality will form on a par with demand.

Q. Is internal tourism developed in Georgia?

What effect can it have on attracting more foreign visitors?

A. Protected areas and natural preserves are full of Georgian visitors. This trend is growing and is important for attracting foreigners. Internal tourism has to be developed first.

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Environment Protection

a Core Element of HeidelbergCement’s Sustainability Policy The FINANCIAL

By Mariam Papidze

H

eidelbergCement’s entire investment in Georgia amounts to more than 200 million EUR, out of which more than 12 million EUR has been allocated for environment protection alone. Installation of new fabric filters, the Quarry Life Award and Public Private Partnership projects are the main projects of HeidelbergCement within the framework of environment protection.

“We have a big responsibility not just for our production but for the environment as well,” Akaki Chkhaidze, Sales and Marketing Director at HeidelbergCement Caucasus, told The FINANCIAL. “In accordance with the Group’s standards and sustainability policy, HeidelbergCement has been focusing on environment protection in Georgia since 2006,” he added.

Q. What responsibilities do you feel in regards to your product and the way you make it having an impact on the environment?

A. The installation of new fabric filters at the Rustavi and Kaspi plants is a significant contribution to environment protection. More than 12 million EUR was invested for the purpose of de-dusting with the installation of new fabric filters. Both plants operate six kilns in total, so the six new fabric filters had to be installed without significantly disrupting the production process.

The problem of pollution is of great concern to the population of Georgia. The company takes on an enormous responsibility for the welfare of the people, especially for

those who live in the area of the plants. By installing modern filter technologies, cement dust reduced by 99 percent. Thus, in addition to climate protection, replacing the old filters with new ones will optimize cement production.

Local authorities strongly support HeidelbergCement in Georgia which is proved by the memorandum on cooperation with the Georgian Ministry of Environment Protection and Natural Resources.

In discussing this issue it is important to pay attention to the standards of the company itself. If the company does not meet the standards, then any type of production may have a negative impact on the environment. As for HeidelbergCement, its policy is relevant to international standards. That means that the factory in Georgia and other factories, i.e. in Germany, have the same filter technologies. Using these filters means that the risk of pollution is minimal.

Q. Asides from filters, what other projects are being implemented by HeidelbergCement in the framework of environment protection?

A. We started implementing a very important project in December last year. This is an international project about international scientific and educational competition - The Quarry Life Award, conducted simultaneously in more than fifteen countries, including Georgia. Students and researchers and NGO partnerships were invited to participate in the Quarry Life Award individually or as teams.

The idea of this competition is the protection and promotion of biodiversity in quarries during and after extrac-

Akaki Chkhaidze, Sales and Marketing Director at HeidelbergCement Caucasus

tion. This competition gives us the opportunity to show that quarrying operations are completely in line with environment protection.

In addition, following our biodiversity management guideline (which was incidentally the first ever issued biodiversity guideline by a building materials producer) is essential for having proper communication with local society to prepare for optimal use of the land after raw material extraction has ended.

Consequently the competition offers this tool for the involvement of communities in biodiversity management.

Three quarries are open for the national, Georgian competition: Kavtiskhevi Limestone Quarry (Shida Kartli), Gardabani Clay Quarry (Kvemo Kartli), and Dedoplistskaro Limestone Quarry

(Kakheti).

The first edition of the Quarry Life Award launched

by HeidelbergCement elicited strong interest from students and researchers. Over 300 project proposals are competing in eighteen countries on four continents. According to international statistics, Georgia reached the highest number of project proposals of all eighteen countries participating.

As for Georgia, 19,304 hits on the website show the readiness of the public to be active participants in biodiversity development. 215 persons were registered on the Quarry Life Award site and 53 interesting proposals have been submitted for the Quarry Life Award.

The competition had two stages, submission of an idea and project submission. The

result of the first stage is that the five best proposals were displayed this year. They have till September to write out their projects and the jury in Brussels will name the winner. The competition will have winners on a national level and winners selected by the global jury. Three winners on the national level, selected by the national jury, can receive financial support from HeidelbergCement to cover the project costs and will be awarded with 1,500, 3,000 and 5,000 EUR respectively.

Global winners selected by the global jury will be awarded 10,000, 20,000 and 30,000 EUR respectively.

The Georgian Ministry of Environment Protection and Natural Resources was involved in this project and its Minister was one of the jury members.

Q. What about the Public-Private-Partnership project running in Georgia?

A. After extracting raw materials, i.e. limestone, it is important to restore the quarries - the land should be made useful again.

The goal of the PPP (public - Private - Partnership) project in cooperation with the German GIZ (Gesellschaft für Internationale Zusammenarbeit), is to promote biodiversity through the development and implementation of different recultivation models in all mining sites of HeidelbergCement in Georgia. In addition, this project aims to promote the share of experience on modern recultivation / renaturation practice with a variety of stakeholders (local community, authorities, universities, etc.).

In the frames of the abovementioned project HeidelbergCement Georgia is supported in developing a

modern recultivation / renaturation technique which fully corresponds to the already implemented environmental management systems.

With this new approach, local habitats adapted to the natural environment are developed, as opposed to the recultivation practice currently used in Georgia.

Q. Please could you briefly summarize HeidelbergCement’s activities in Georgia?

A. HeidelbergCement’s activity in the Georgian cement market began in 2006, since 2008 HeidelbergCement has expanded in the ready-mixed concrete business line. Nowadays, the company runs three cement plants with total cement production capacity of around 2 million tons per year and three ready mixed concrete plants in Georgia.

The whole investment of HeidelbergCement in Georgia is more than 200 million EUR. Over the period of the past three years HeidelbergCement has opened five operational units in Georgia: June 2008 - Opening of a dry process cement plant in Rustavi; April 2009 - Start up of a concrete batching plant in Tbilisi; April, 2010 - Opening of the second concrete batching plant in Tbilisi; April, 2011 - Opening of Sufsa (Black Sea coast) cement terminal; September, 2011 - Mobile readymixed concrete plant started operation.

HeidelbergCement is the global market leader in aggregates and a prominent player in the fields of cement, concrete and other downstream activities, making it one of the world’s largest manufacturers of building materials.

The company employs some 53,000 people at 2,500 locations in more than 40 countries.

CMYK

10

HEADLINE NEWS & ANALYSIS

green business

FINANCIAL

23 April, 2012 | finchannel.com

Potential of Wind Energy in Georgia Awaiting Use In spite of the problems, Zedginidze thinks that it would be reasonable to start the building of at least one wind firm. This won’t affect the price.

The FINANCIAL

By Nana Mghebrishvili

G

eorgia has a potential of 5 billion KWh of wind energy, which is almost half of the energy used annually by the Georgian population, experts say. This energy could be used locally as well as being exported, aiming to reduce greenhouse gas emissions in the atmosphere.

“Georgia is quite rich in terms of renewable energies including hydro and wind energies,” Archil Zedginidze, Director of Karenegro, told The FINANCIAL. “We conducted a feasibility study of the whole of Georgia and found out that the richest regions in term of wind energy are: the gorge of the river Chorokhi, Paravani lake, Likhi mountain range, Mukhrani field, outskirts of Kutaisi and West-Eastern part of Tbilisi, also the outskirts of Rustavi and areas between Khashuri and Gori. We have all the materials needed to start building wind turbines there but interest in it isn’t high enough.”

“We had several business negotiations with American and Japanese investors, but in the end they were rejected. In my opinion the legislation has to be changed and suited to the needs of potential investors in this field. At least they need a guarantee that wind energy would be purchased and the price also has to be defined beforehand. So attractive legislation and tariffs are essential,” Zedginidze explained.

The Ministry of Energy of Georgia has some negotiations with Turkish and Norwegian investors to implement projects at Paravani Lake and Skra. But they still consider hydro energy more of a priority than wind energy because of the price difference and experience which has built up in the hydro energy sector in Georgia.

“We can’t subsidy wind energy as we have a lot more important problems,” said Mariam Valishvili, First Deputy of the Minister of Energy.

“The cost of building one megawatt wind firm is 1 million EUR, which is quite costly. This will increase

Importance of renewable energies

the net price of energy and according to our calculations the net price of one KWh of energy is 16 cents. At the same time the areas with good wind energy potential are places where infrastructure isn’t developed at all. Constructing roads and transmission lines would take up almost half of the budget. For those reasons it isn’t worth starting and therefore we prefer to build hydro energy stations.”

Currently the net price of energy made by old hydropower stations is 5 tetri. The price of new stations is 7 cents, which is 2-3 times more than the old stations. But the building of new hydro energy stations is sched-

Armenia Azerbaijan Belarus Georgia Kazakhstan Moldova Russia Ukraine

Frank Klobucar GORBI

On Caucasian Plumbers

M

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.

Countries transitioning from a soviet system to national sovereignty

Cold tap water 100% 87% 93% 90% 87% 70% 92% 90%

Hot tap Flush water toilet 98% 62% 75% 36% 40% 39% 70% 66%

100% 59% 77% 62% 47% 37% 80% 76%

face many challenges in creating a healthy economy and improving their quality of life. It is often the case that these countries and international investors heavily invest in tourism or elaborate construction projects meant to impress their citizens or cure economic woes with one magic trick. Without first securing the foundations of an economy, stable infrastructure and the like, these investments might well have minimal or sometimes negative effects.

One of these too-often ignored areas is an inclusive water and sanitation network.

The 2200 Georgian households polled for this survey were asked about various facilities that were accessible, including tap water, hot water, and flushable toilets. 90% of those polled had tap water, whether inside or outside the house, but only 35% had heated water, the lowest number of any country included in the poll. The only two countries with a significantly smaller percentage of

uled so that it won’t affect the price that the Georgian population pay for energy. According to international practice, money invested in wind electric power could be seen back after ten years. Only after this would wind energy become cheaper.

“There is currently only one wind turbine in the village Skra. The project was funded by USAID. The prime cost of the turbine is about 25,000 USD. It produces only 22,000 KWh energy per year, which is enough for two families,” Valishvili said.

“This was a pilot project and we are always open to such projects. But I think that Georgia is still far from the day when it will have plenty of

wind firm,” Valishvili said.

One Georgian businessman asked Karenergo to conduct a feasibility study near Mtskheta. He wanted to build a restaurant running on wind energy. The price of a feasibility study is up to one percent of the price of a wind firm however.

“They wanted to build a 20 megawatt wind firm,” Zedginidze said.

“Its price is about 22 million EUR. The feasibility study costs about 300,000-400,000 EUR. But in the end they didn’t build the station because of the high cost. On the other hand wind energy isn’t stable and it needs to be balanced with other energy sources.”

flushable toilet access were Kazakhstan and Moldova. Not surprisingly, those living in villages had less access to all facilities than city dwellers, and the difference is the largest in toilets. 98% of Tbiliseli, for example, have flushing toilets and only 31% of villagers do. Azerbaijan had similar toilet availability to Georgia, and more hot water taps, around 62%.

present data in an honest manner.

With this in mind, a less appealing possible explanation is one of survey bias. It may be that well equipped regions were overrepresented, or that there was a strong social incentive for the Armenians to mislead interviewers; perhaps they feel it’s shameful to be without all facilities.

The first explanation is fairly well discounted by looking at the survey data itself; the data does not include the actual villages surveyed, but there is an appropriate distribution of respondents by settlement type.

The chance that respondents were guided by social shame is harder to explain away, but Armenians answered other possibly shameful questions freely, such as income and education levels, without any shocking data outcomes. Finally, there is the possibility that this is one of the flukes that are an unavoidable risk in statistical analysis. In a sample sizes like this, there is a 1% chance that the reality falls outside the 3.5% margin of error.

However, when hunting for a less dismissive explanation for Armenia’s supposed first world plumbing and water systems, we find that the Armenian government began a system of major reforms and privatization for their water distribution systems in 2005. While alternative information on these reforms’ results is not readily available, it could be that Armenia has completely

The Armenian Outlier The truly remarkable case in this study is Armenia, with virtually every household polled claiming to be equipped with cold and hot water and flushable toilets. Even with 10% of water taps and 14% of toilets situated outside of the house, this is still extraordinary when compared to its Caucasian neighbors. This may be explained by the abundance of natural water reserves in the Armenian countryside, were it not for the inconsistency in its geography and seasonal fluctuations. A large infrastructure would still be required to move water from wet to dry regions, and be dependent on the seasonal water levels in reservoirs.

At GORBI we oblige ourselves to

Increasing consumption of renewable energies is considered one of the best ways to solve problems caused by climate change. Climate change was detected in the second half of the 18th century and has been growing since then.

“Global warming is a global problem and can’t be solved locally,” said Grigol Lazrievi, Head of the Hydrogeology and Climate Change Division at the Ministry of Environment Protection. “About 90 percent of energy consumed in Georgia is renewable, but this is only 12-15 percent of the overall potential of Georgia. The country has to start intensive works to get more renewable energy and export abroad. We don’t currently appreciate the real danger of global warming. But if we don’t reduce emissions in the atmosphere, the situation will become dramatic. Renewable energies including wind energy can play a crucial role in this.”

Georgia is responsible for only 0.03 percent of the whole emissions in the atmosphere. If we reduce emissions locally, it will have an ideal effect on air pollution locally.

The country will benefit from this significantly. But it can’t change the general situation of climate change if the entire world doesn’t start reducing emissions too.

“The affect of global warming in Georgia is evident in the country’s seaside regions, as the level of water is risen,” Lazrievi explained. “The situation is worse in Batumi and Anaklia. At the same time natural disasters have increased so significantly in strength and frequency. High, mountainous regions have the most difficulty, as rivers are too fast because of the relief and have devastating power. For that reason the development of renewable energies is vital.”

and quietly modernized their water networks. More data should be collected on this issue before simply accepting it as fact, but as pure anecdote: on a recent trip to Yerevan and nearby villages, this columnist saw village streets lined with evenly spaced water spouts and cleaning bins, greenhouses with thick sheets of condensation, and minor irrigation systems watering small personal gardens and larger tomato farms.

Whatever the reality of the Armenian case, a more extensive water and sanitation network in Georgia would be a very good thing. Water penetration has great implications for an agricultural economy and, coupled with flushing toilets, even connotations on personal and public health; it would undoubtedly be a wise area for investment in a still developing country.

The margin of error for Armenia and other countries in this study is 3.5% with a 99% confidence interval, and 3% in Georgia. Visit our website at gorbi.com.

This report is exclusively provided to The FINANCIAL. Crediting The FINANCIAL is obligatory.

Visit GORBI website at gorbi.com

CMYK

source for past, present and projected Energy Prices and Trends.

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FINANCIAL HEADLINE NEWS & ANALYSIS

* How have Diesel prices developed over the years?

sustainable energy

IP/12/372 Date: 16/04/2012

Crude Oil (OPEC Basket) 116.30 US$/bbl Electricity Index (ELIX) Gaspool

52.05 €/MWh 25.15 €/MWh

EU Emissions Allowances

7.00 €/t CO 2

RE implementation in Finland, Greece and Poland

energy prices in europe

finchannel.com | 23 April, 2012

National energy legislation in eight States not in line with EU rules IP/12/181 Date 27/02/2012

EstoniaEstonia € 0.0425 € 0.0425 Estonia Estonia Actual prices per one literNo of fuel.

Download pastFinland 12 years.

Finland Finland data No data fuel price data for the Finland

The Long Road

Fuel prices

France France

April 21, 2012

Germany Germany Austria

Hungary Hungary Belgium

IrelandBulgaria Ireland

Afghanistan in 2020: Projections for a Torn Land

€ 0.0622 € 0.0622

France France

€ 0.0615 € 0.0615

Germany Germany

Retail Price

No data No data

€ 1.487

€ 0.0590 € 0.0590 € 1.777 € 0.0573 € 0.0573 € 1.369 2.69 лв.

Italy Cyprus Italy € 0.0831 € 0.0831 € 1.400 Latvia Czech LatviaRepublic € 1.507 € 0.0421 € 0.0421 37.30 Kč Lithuania Lithuania € 0.0483 € 0.0483 Denmark € 1.840 13.69 kr

O

Retail Price

Hungary Hungary € 1.553

€ 1.141

Ireland Ireland € 1.348 2.24 лв.

€ 1.197

€ 1.381

Italy Italy

Price (Excluding VAT)

No No data data

€ 1.407

€ 1.173

€ 0.0565 € 0.0565 € 1.283

0.0525 € 0.0525 2.65€лв. € 1.123

€ 1.256

31.08Latvia Kč Latvia

€ 1.499

€ 0.0720 € 0.0720 € 1.180 0.0417 € 0.0417 37.10€ Kč € 1.249

€ 1.472

10.95Lithuania kr Lithuania€ 1.625

€ kr0.0428 € 0.0428 12.09 € 1.300

€ 1.335 Luxembourg Luxembourg

€ 1.113 € 0.0526 € 0.0526

€ 1.395 € 0.0515 € 0.0515

€ 1.163

Malta Finland Malta

€ 1.712 No data No data

€ 1.392

Malta Malta

€ 1.552

€ 1.262 No No data data

France Netherlands Netherlands

€ 1.755 € 0.0772 € 0.0772 € 1.704 € 0.0552 € 0.0552

€ 1.467

€ 1.568 Netherlands Netherlands

€ 1.311 € 0.0730 € 0.0730

Poland Poland € 1.536

€ 1.291 € 0.0491 € 0.0491

359 FtRomania Romania€ 1.523

447 € Ft 0.0291 € 1.199 € 0.0291

Greece Portugal Portugal

Hungary Romania Romania Ireland

€ 1.852 € 0.0684 € 0.0684 € 1.553 456 Ft € 0.0301 € 0.0301

€ 1.432 € 1.506 € 1.223

€ 1.672

€ 1.359

Italy

€ 1.902

€ 1.572

Latvia

€ 1.469

Slovakia Slovakia Slovenia Slovenia

although the riding premise that development in a wartorn country should be driven by private sector investments was fatally flawed. ANDS was the main platform for much of the plans, activities and projects in which thousands of men and women form multilateral, bilateral agencies worked in addition to hundreds of non-government agencies and other donors.

There was almost an unquestioned belief among those who worked in Afghanistan that “winning the hearts and minds of Afghan people” was very much on track, that the peace and security would be in place and that the statistics churned out by muchfunded agencies would dictate the return of the nation to democracy, civil liberties, private sector investment and growth. Projects for “gender mainstreaming”, again heavily funded from all directions, were said to bring Afghan women into the mainstream of public life.

Although there was a blanket ban on UN officials not traveling on their own and unescorted in Kabul, I did find the space and time to walk the Chicken street and other lanes to feel the pulse of a cramped and dusty city where thousands walked and filled the streets with little shops, vendors and money changers.

Kabul, I felt, like the people of Afghanistan, has entered a time warp and a plateau of existence where life was no more a thing of joy, but a minefield filled with obstacles at every corner, physical, bureaucratic, religious and political. Navigating this minefield was perhaps the only focus of life. For many people, mainly in the rural areas of Afghanistan, eking out an existence of an average ten dollars a month was even more difficult.

Afghans, through the years, have been hardened through wars, conflicts and destabilization. Traditionally, they are both warriors and nomads. They are a very proud people with very long years of culture and tradition. They are, mentally and physically a very strong race, able to endure extreme hardships of a rugged mountain life and the dry plains. The last several generations carry the wounds of war and conflict, and of poverty, although, while visiting a University campus in Kabul, I noticed that they are

Greece Greece

€ 0.0604 € 0.0604

Estonia Luxembourg Luxembourg

PolandGermany Poland

n a beautiful sunny, but somber morning in September 2009, I packed my suitcase full of books on Afghanistan, some clothes, hugged my Afghan friends and left my somewhat dilapidated “rest house” in the United Nations compound in Kabul for the airport. I had finished my assignment with the UNDP as senior advisor, policy and development – a title which weighed heavy on my mind and soul in a country which was torn apart by several years of conflict, war, insurgencies, tribal warlords, the poppy mafia and the myriad of other revolutionaries, freedom fighters, liberators, and without doubt, the total oppression of women by the Taliban.

I have travelled and worked in several countries across all continents, but Afghanistan left an indelible mark in my psyche. It’s history of defiance against invaders, its tortuous history of war lords and raped villages, its traditional and oppressive adherence to keeping women ignorant, obedient to men and out of all forms of public life, the invasions starting from the Alexander the Great to the deployment of International Security Assistant Force to rout the Talibans out of power in Afghanistan, has made Afghanistan a unique hot spot in the world of pressure politics.

But like all wars down the centuries, the people in Afghanistan, the simple farmer, the nomad, the trader, the school teacher and the artisan have been given no breathing space to rebuild their lives.

Wedged uncomfortably at the cross roads of uncertainty between freedom and slavery, the ordinary Afghan lives in an eternal hope of someday finding peace, of drinking clean water from the wells, walking their children to school, reaping a bountiful harvest of corn and maize, tendering their sheep and celebrating the little joys of birth, marriage and success in little ventures.

In Afghanistan, I had a broad assignment which looked at various support systems and assistance for the implementation of the Afghanistan National Development Strategy, painfully crafted by some of the best strategists and adopted by the Afghanistan government,

€ 1.469

No No data data

Diesel (Gazole, Gasóleo)

Price (Excluding VAT) € 1.239

€ 0.0419 € 0.0419 € 0.0524 € 0.0524

Unleaded (Superbleifrei, Euro sans plomb, Euro95)

Country

Greece Greece

Guy de Fontgalland

11

IP/12/278 Date: 22/03/2012

Spain Spain the

€ 0.0469 € 0.0469 € 0.0735 € 0.0735 Ls 1.027

€ 0.0590 € 0.0590

€ 1.204

Portugal Portugal € 1.586 € 1.590

Slovakia Slovakia Slovenia Slovenia

Ls 0.842

Spain Spain

€ 1.289 € 0.0596 € 0.0596

30.92 Kč 9.67 kr

352 Ft

€ 1.293

€ 0.0465 € 0.0465

€ 1.781 € 1.376

2.21 лв.

€ 1.472

€ 0.0692 € 0.0692

Ls 0.962

€ 1.128

€ 0.0555 € 0.0555

Ls 0.789

like all youth anywhere in Lithuania € 1.451 Lt 5.01 € 1.199 Lt 4.14 € 1.347 Lt 4.65 € 1.113 Lt 3.84 SwedenSweden € 0.1134 € 0.1134 Sweden Sweden € 0.1040 € 0.1040 world, wanting to go up in life Luxembourg € 1.470 € 1.278 € 1.277 € 1.110 and have a better future. One United Kingdom United Kingdom € 0.0465 € 0.0465 United United Kingdom Kingdom € 0.0399 € 0.0399 Malta € 1.510 € 1.280 € 1.390 € 1.178 does not see a sense of dejecNotes: Netherlands Notes: € 1.851 € 1.555 € 1.498 € 1.259 tion and despair. The will to - End-user- price, End-user includes price,all includes taxes. all taxes.

Poland € 1.385 5.85 zł € 1.126 4.76 zł € 1.350 5.70 zł € 1.098 4.63 zł survive the terrible ordeal of - Amount is- Amount in euro is (€)inper euro kiloWatthour (€) per kiloWatthour (kWh). (kWh).

Portugal € 1.773 € 1.441 € 1.545 € 1.256 wars and displacement and - EU Average - EUGross Average Calorific Gross Calorific Value 38.48 Value (MJ/m3) 38.48 (MJ/m3) take life as it comes seems -aThere isRomania € data 1.337 5.85 lei Cyprus, 1.078 4.72 lei € 1.346 5.89 lei € 1.085 4.75 lei -no There gas is price no gas dataprice available available for Greece, for Greece, Cyprus, Malta€and Malta Finland. and Finland. proven strength among most.- Price data Slovakia € 1.574countries 1.312exchange € 1.477 € 1.231 - Price for non-eurozone data for non-eurozone countries are in euro. are The in euro. average The€average exchange rate valid rateforvalid thefor referenced the referenced month month is applied. is applied.

The Australian GovernSlovenia € 1.536 € 1.280 € 1.344 € 1.120 ment has decided to pull out Spain € 1.487 € 1.260 € 1.374 € 1.164 of the theatre of war in AfSweden € 1.758 15.53 kr € 1.406 12.42 kr € 1.686 14.89 kr € 1.349 11.91 kr ghanistan one year ahead of United Kingdom € 1.747 £ 1.429 € 1.456 £ 1.191 € 1.810 £ 1.481 € 1.508 £ 1.234 schedule. Julie Gillard, the Australian Prime Minister is € 1.325 € 1.227 EU AVERAGE € 1.603 € 1.485 Retail (end-user) Retail (end-user) energyenergy pricesprices for households. for households. of the view that the mission Two consumption Two consumption levels are levels identified. are identified.

Research Research methodology. methodology. is accomplished and that AusPrice data Price mentioned data mentioned may not may reflect not reflect the latest the latest insights insights foundfound in the in commercial the ADVERTISEMENT: commercial editions. editions. tralian troops are no more required in Afghanistan. This EU Blue Card: Recruit Exceptional Talent Reference Reference month:month: Nov ember, Nov ember, 2011. 2011. is the beginning. The ISAF Historical Historical price data pricegoing data going back toback the to year the 2000, year 2000, visit EU visitEnergy EU Energy History History contingent is scheduled to Retail (end-user) energy prices for households. pull out by mid 2014, almost Consumption: Consumption: 3,500 kWh/year 3,500 kWh/year (± 25%) (± 25%) Consumption: Consumption: 7,5007,500 kWh/year kWh/year (± 30%) (± 30%) Two consumption levels are identified. Research methodology.

11 years after the invasion Country Country per €kWh perlatest Electricity kWhinsights Electricity Country Country € per € per kWh kWh Electricity Electricity Price data mentioned may not€reflect the found in the commercial editions. of Afghanistan. The Afghan Austria Austria € 0.2128 € 0.2128 Austria Austria € 0.1930 € 0.1930 Security forces are expected Belgium Belgium € 0.2215 € 0.2215 Belgium Belgium € 0.1980 € 0.1980 to defend the regime and its people from any and all atBulgaria Bulgaria € 0.0934 € 0.0934 Bulgaria Bulgaria € 0.0936 € 0.0936 tacks. The recent coordinated Cyprus Cyprus € 0.2131 € 0.2131 Cyprus Cyprus € 0.2116 € 0.2116 offensive either by the TaliCzech Republic Czech Republic € 0.1541 € 0.1541 Czech Czech Republic Republic € 0.1279 € 0.1279 bans or the Haqqani group Denmark Denmark € 0.3078 € 0.3078 Denmark Denmark € 0.2666 € 0.2666 on several key targets in KaEstoniaEstonia € 0.1130 € 0.1130 Estonia Estonia € 0.1101 € 0.1101 bul and elsewhere have been reportedly repulsed by the FinlandFinland € 0.1574 € 0.1574 Finland Finland € 0.1377 € 0.1377 Afghan Security forces. There France France € 0.1478 € 0.1478 France France € 0.1328 € 0.1328 is confidence that the secuGermany Germany € 0.2781 € 0.2781 Germany Germany € 0.2614 € 0.2614 rity forces, once on their own GreeceGreece € 0.1403 € 0.1403 Greece Greece € 0.1623 € 0.1623 with some continuing support from NATO and its allies, will Hungary Hungary € 0.1787 € 0.1787 Hungary Hungary € 0.1701 € 0.1701 mature and grow into a formiIrelandIreland € 0.2162 € 0.2162 Ireland Ireland € 0.1941 € 0.1941 dable defense force.

Italy Italy € 0.2164 € 0.2164 ItalyItaly € 0.2722 € 0.2722 The future of AfghaniLatvia Latvia € 0.1174 € 0.1174 Latvia Latvia € 0.1176 € 0.1176 stan, its return to democracy and civil liberty, to a status Lithuania Lithuania € 0.1378 € 0.1378 Lithuania Lithuania € 0.1336 € 0.1336 where women will enjoy Luxembourg Luxembourg € 0.2013 € 0.2013 Luxembourg Luxembourg € 0.1877 € 0.1877 some semblance of freedom, Malta Malta € 0.1822 € 0.1822 Malta Malta € 0.1929 € 0.1929 where illiteracy will be vastly Netherlands Netherlands € 0.2202 € 0.2202 Netherlands Netherlands € 0.2464 € 0.2464 diminished or eliminated, PolandSlovenia Poland € 0.1600 € 0.1600 Poland Poland € 0.1545 € 0.1545 where poppy cultivation will € 0.1162 Slovenia € 0.1001 Spain € 0.1271 Spain € 0.1043 be replaced by equally profitPortugal Portugal € 0.1925 € 0.1925 Portugal Portugal € 0.1753 € 0.1753 Sweden € 0.0887 Sweden € 0.0770 able farms and agro industry, Romania Romania € 0.1207 € 0.1207 Romania Romania € 0.1190 € 0.1190 United Kingdom € 0.1149 United Kingdom € 0.1019 where hunger and malnutriSlovakia Slovakia € 0.1815 € 0.1815 Slovakia Slovakia € 0.1616 € 0.1616 tion will be a thing of the past, Notes: Slovenia € 0.1649 € 0.1649 Slovenia Slovenia € 0.1506 € 0.1506 -Slovenia Amount is in euro (€) per kiloWatthour (kWh). will be shaped and deterEnd-user price. Includes all duties, except recoverable taxes (e.g. VAT) mined by only one critical and Spain -Spain € 0.2154 € 0.2154 Spain Spain € 0.1969 € 0.1969 - Price data for non-eurozone countries are in euro. The average exchange rate valid for the referenced month is applied. decisive factor: the Afghans SwedenSweden € 0.2066 € 0.2066 Sweden Sweden € 0.1794 € 0.1794 themselves. There will be no United United Kingdom Kingdom € 0.1676 € 0.1676 United United Kingdom Kingdom € 0.1513 € 0.1513 tyrant, no dominant political Notes: Notes: philosophy or religious group - End-user- End-user price, includes price, all includes taxes.all taxes. which can keep the Afghans - Amount is - Amount in eurois(€)inper eurokiloWatthour (€) per kiloWatthour (kWh). (kWh). down for too long. If the curThe price components that make up the retail price for one liter of fuel.

- Price data - Price for non-eurozone data for non-eurozone countriescountries are in euro. are in The euro. average The average exchange exchange rate valid ratefor valid thefor referenced the referenced monthmonth is applied. is applied. rent trend toward greater freedom and democracy in Crude - Purchase price of one liter of crude. the Middle East takes root, Margin - Refining, transportation, insurance, stockpiling, distribution and sale to consumers.

Excise duties and VAT - Taxes levied by local governments. May include environment related taxes. and if freedom and democracy becomes an accepted norm Unleaded (Superbleifrei, Euro sans plomb, among much of the Middle April 21, 2012 Diesel (Gazole, Gasóleo) Euro95) East, the domino theory will Crude Margin Excise duties VAT Retail price Crude Margin Excise duties VAT Retail price Country work with Afghanistan. Year Austria € 0.558 € 0.199 € 0.482 € 0.248 € 1.487 € 0.558 € 0.218 € 0.397 € 0.235 € 1.407 2020 may not be too far way.

Belgium € 0.558 € 0.297 € 0.614 € 0.308 € 1.777 € 0.558 € 0.298 € 0.428 € 0.270 € 1.553 When I left Kabul, I brought with me pictures of Bulgaria € 0.558 € 0.220 € 0.363 € 0.228 € 1.369 € 0.558 € 0.244 € 0.322 € 0.225 € 1.348 some of the most magnificent Cyprus € 0.558 € 0.280 € 0.359 € 0.203 € 1.400 € 0.558 € 0.293 € 0.330 € 0.201 € 1.381 roses which grow in that land.

Czech Republic € 0.558 € 0.182 € 0.516 € 0.251 € 1.507 € 0.558 € 0.251 € 0.440 € 0.250 € 1.499 Someday, I hope the land will Denmark € 0.558 € 0.327 € 0.587 € 0.368 € 1.840 € 0.558 € 0.298 € 0.444 € 0.325 € 1.625 be full of roses and not guns, Estonia € 0.558 € 0.182 € 0.423 € 0.233 € 1.395 € 0.558 € 0.162 € 0.393 € 0.223 € 1.335 bombs and suicide bombers.

Finland € 0.558 € 0.184 € 0.650 € 0.320 € 1.712 € 0.558 € 0.234 € 0.470 € 0.290 € 1.552

Electricity households

Fuel Taxes

France

€ 0.558 € 0.303

€ 0.607

€ 0.288

€ 1.755

€ 0.558 € 0.325

€ 0.428

€ 0.257

€ 1.568

Germany

€ 0.558 € 0.220

€ 0.654

€ 0.272

€ 1.704

€ 0.558 € 0.263

€ 0.470

€ 0.245

€ 1.536

Greece

€ 0.558 € 0.278

€ 0.670

€ 0.346

€ 1.852

€ 0.558 € 0.320

€ 0.412

€ 0.297

€ 1.586

Hungary

€ 0.558 € 0.246

€ 0.419

€ 0.330

€ 1.553

€ 0.558 € 0.255

€ 0.386

€ 0.324

€ 1.523

Ireland

€ 0.558 € 0.214

€ 0.588

€ 0.313

€ 1.672

€ 0.558 € 0.256

€ 0.479

€ 0.297

€ 1.590

Italy

€ 0.558 € 0.310

€ 0.704

€ 0.330

€ 1.902

€ 0.558 € 0.321

€ 0.593

€ 0.309

€ 1.781

Latvia

€ 0.558 € 0.238

€ 0.408

€ 0.265

€ 1.469

€ 0.558 € 0.240

€ 0.330

€ 0.248

€ 1.376

Lithuania

€ 0.558 € 0.207

€ 0.434

€ 0.252

€ 1.451

€ 0.558 € 0.253

€ 0.302

€ 0.234

€ 1.347

Luxembourg

€ 0.558 € 0.259

€ 0.462

€ 0.192

€ 1.470

€ 0.558 € 0.223

€ 0.330

€ 0.167

€ 1.277

Malta

€ 0.558 € 0.253

€ 0.469

€ 0.230

€ 1.510

€ 0.558 € 0.238

€ 0.382

€ 0.212

€ 1.390

Netherlands

€ 0.558 € 0.268

€ 0.730

€ 0.296

€ 1.851

€ 0.558 € 0.270

€ 0.431

€ 0.239

€ 1.498

Poland

€ 0.558 € 0.188

€ 0.380

€ 0.259

€ 1.385

€ 0.558 € 0.210

€ 0.330

€ 0.252

€ 1.350

Portugal

€ 0.558 € 0.300

€ 0.584

€ 0.332

€ 1.773

€ 0.558 € 0.332

€ 0.366

€ 0.289

€ 1.545

Romania

€ 0.558 € 0.160

€ 0.360

€ 0.259

€ 1.337

€ 0.558 € 0.212

€ 0.316

€ 0.261

€ 1.346

Slovakia

€ 0.558 € 0.239

€ 0.515

€ 0.262

€ 1.574

€ 0.558 € 0.287

€ 0.386

€ 0.246

€ 1.477

Slovenia

€ 0.558 € 0.231

€ 0.491

€ 0.256

€ 1.536

€ 0.558 € 0.201

€ 0.361

€ 0.224

€ 1.344

Spain

€ 0.558 € 0.277

€ 0.425

€ 0.227

€ 1.487

€ 0.558 € 0.276

€ 0.331

€ 0.210

€ 1.374

Sweden

€ 0.558 € 0.229

€ 0.620

€ 0.352

€ 1.758

€ 0.558 € 0.237

€ 0.554

€ 0.337

€ 1.686

United Kingdom

€ 0.558 € 0.224

€ 0.674

€ 0.291

€ 1.747

€ 0.558 € 0.277

€ 0.674

€ 0.302

€ 1.810

CMYK

12

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

S

ince the summer of 2009, the Harris Poll has been tracking Americans’ attitudes toward the environment as well as their engagement in various environmentally-friendly, or “green,” behaviors. The latest installment finds that many green behaviors, including those capable of saving consumers money, continue to decline.

And perhaps more alarming, considerably fewer U.S. adults now express concern for, and awareness of, environmental issues.

Since these questions were first asked in 2009 there has been a decline in some green behaviors.

In 2012, U.S. adults are now less likely to do each of the following in their daily life: Reuse things they have instead of throwing them away or buying new items (65% 2009 vs. 61% 2012); Make an effort to use less water (60% 2009 vs. 57% 2010 and 2012); Buy food in bulk (33% 2009 vs.

30% 2012); Purchase all-natural products (18% 2009 vs. 16% 2012); and, Purchase organic products (17% 2009 vs. 15% 2010 and 2012).

They are also less likely to espouse certain green attitudes - fewer Americans describe themselves as “environmentally-conscious” (27% 2012 vs. 30% 2009), or say they personally care a great deal about the current state, and future, of the environment (31% 2012 vs.

36% 2009 and 34% 2010).

Most significantly, in 2012, only about 1 in 3 U.S. adults (34%) say they are concerned about the planet we are leaving behind for future generations - an almost 10 percentage point decrease since 2009 (43%).

At the same time, however, a minority of Americans - more so than in 2009 - continue to describe themselves as: Conservationist (20% 2012 and 2010 vs. 17% 2009); “Green” (17% 2012 and 18% 2010 vs. 13% 2009); and, Environmentalist (16% 2012 and 2010 vs. 13% 2009).

Over the past few years, more pressing issues such as health care reform, economic recovery, and the upcoming presidential election have eclipsed discussions about the environment, so perhaps it is not very surprising that these latest Harris Poll results continue to show a decline in “green” attitudes and behaviors. Unfortunately for consumers, some of the “green” behaviors they fail to adopt - such as buying food in bulk - could be saving them money, while others such as recycling - could help us leave behind a cleaner, more sustainable future for our grandchildren. There may be a silver lining though, if the group of Americans who express the strongest commitment to the environment is a vocal and highly engaged minority.

Georgia Getting Closer to Clean Production The FINANCIAL

By Madona Gasanova “Support from the Government will significantly help the popularization of ‘clean production’ (CP),” Mariam Sikharulidze, Information Officer at REC Caucasus, told The FINANCIAL. Sikharulidze said that the targets and challenges for CP are different in each country of the Caucasus, depending on their actual situation. “Georgia and Armenia are mainly focusing on energy savings, as there is a lack of energy sources and therefore it is expensive. In Azerbaijan the main focus is on water quality and water savings, as access to water is pretty difficult and therefore this resource is expensive.”

“There is very limited support in the South Caucasus for helping enterprises with the implementation of CP techniques,” Sikharulidze said.

“People’s general mentality is improv-

ing and green business is on the agenda.

Green business is not a new product in Georgia,” said Giorgi Nanobashvili, UNDP Economic Development Team Leader.

According to Nanobashvili, understanding of CSR is becoming more widespread and popular in Georgia.

“The environment is one of CSR’s main directions. Its protection first of all means its safekeeping through utilising alternative resources of energy. Green business cannot always be developed by efforts of individual companies. It involves complex work of various players.

Most important will be pre-feasibility research. Our research will be the basis for further investigation of feasibility of investing into these types of businesses,” he said.

“Green business is not only environment protection; it is a way of saving energy and other resources. The Georgian climate and nature gives the country huge potential in different spheres,”

Nanobashvili believes.

Recently UNDP made a research of Green Business in Georgia funded by Swiss Agency for Development and Cooperation (SDC).

“If we ask any person which product they prefer, they will no doubt say that which is ecologically clean. So while finding out how ecologically clean and harmless a products is, we get sufficient information about the issue,” he said.

Nanobashvili noted that there are lots of companies in Georgia who pay huge attention to CSR. Social responsibility has become a part of their image.

Sikharulidze, REC Caucasus, said that lack of access to funds is a barrier to implementation of CP in enterprises.

“The demonstration projects carried out under several internationally funded projects have shown that considerable improvements are possible with small investments that have rapid payback.

The loan facility for small-scale CP investment can be established on gov-

ernmental or special funds through a revolving fund, as in many other countries. It should be a condition of loans that means enterprises receive technical assistance (on a paid basis) from one of the CP advisory centres or organizations.

“In general the environmental legislation in the region is similar from the perspective of promotion of environmental technology support. The main supportive instrument for technologies should be a system for environmental protection. A bad situation is one with existing facilities, ones already operating for several years: machinery that is old fashioned, when the operations’ management as well as environmental management is at a poor level. For this type of sector, implementation of CP is very important, because the CP methodology can be the first step towards improved management, therefore quality assurance and environmental management systems,” Sikharulidze said.

Rising Chinese Wages, Logistics, and Other Factors Are Prompting Companies to Rethink Where They Manufacture The FINANCIAL

M

ore than a third of U.S.-based manufacturing executives at companies with sales greater than $1 billion are planning to bring back production to the United States from China or are considering it, according to a new survey by The Boston Consulting Group (BCG).

Decision makers at 106 companies across a broad range of industries responded to the survey, which BCG conducted in late February. Thirty-seven percent said they plan to reshore manufacturing operations or are “actively considering” it. That response rate rose to 48 percent among executives at companies with $10 billion or more in revenues—a third of the sample.

The top factors cited as driving future decisions on production locations: labor costs (57 percent), product quality (41 percent), ease of doing business (29 percent), and proximity to customers (28 percent). In addition, 92 percent said they believe that labor costs in China “will continue to escalate,” and 70 percent agreed that “sourcing in China is more costly than it looks on paper.”

The results are consistent with earlier BCG findings on the changing economics that are starting to favor the manufacturing of certain goods in the U.S. In a report released last month,

U.S. Manufacturing Nears the Tipping Point: Which Industries, Why, and How Much?, BCG predicted that improved U.S. competitiveness and rising costs in China will put the U.S. in a strong position to add 2 million to 3 million jobs in a range of industries and an estimated $100 billion in annual output by the end of the decade.

“These survey findings confirm our own analysis and what we are hearing from major companies,” said Harold

L. Sirkin, a BCG senior partner and coauthor of the firm’s “Made in America, Again” series, which began last year.

“Companies are realizing that the economics of manufacturing are swinging in favor of the U.S., for goods to be sold both at home and to major export markets. This trend is likely to accelerate starting around 2015.”

Interest in shifting manufacturing to the U.S. is particularly strong among companies in several sectors identified in

BCG’s March report as nearing a “tipping point.” In these industry groups, China’s cost advantage is likely to shrink within the next few years to the point where companies should rethink where they produce certain goods, mainly those for sale in North America. These tippingpoint sectors are transportation goods, appliances and electrical equipment, furniture, plastic and rubber products, machinery, fabricated metal products, and computers and electronics. BCG predicts that production of 10 to 30 percent of U.S. imports from China in these industries, which account for approximately 70 percent of goods that the U.S. imports from that nation, could shift to the U.S. before the end of the decade.

In the new survey, 67 percent of respondents in rubber and plastic products, 42 percent in machinery, 41 percent in electronics, 40 percent in computers, and 35 percent in fabricated metal products said they expect that their companies will reshore production from China to the U.S. “Not long ago, many companies regarded China as the low-cost default option for manufacturing,” observed Michael Zinser, a BCG partner who leads the firm’s manufacturing work in the Americas. “This survey shows that companies are coming to the conclusion surprisingly fast that the U.S. is becoming more competitive when the total costs of manufacturing are accounted for.”

RBS biggest lender to renewables projects in the UK The FINANCIAL

R

BS was by far the biggest lender to renewable energy projects in the UK last year, lending more than double the amount of their nearest competitor, according to independent research.

Figures from Infrastructure Journal show RBS loaned more than $366m to UK renewable projects last year. The journal also calculates that across the sector, lending increased by nearly 200% on the previous year. In 2010 deals worth $464m were completed, which increased to $1.372bn in 2011.

One driver behind the increase in activity in the sector is the surge in biomass developments after the U.K reviewed its Renewables Obligation banding in October 2011. This was encouraging for onshore wind and proposed greater subsidies for enhanced biomass generators while leaving incentives for other forms of biomass power mostly unchanged, easing uncertainty across the industry for continued future development. Biomass plants generate power from organic materials such as woodchips, municipal waste and straw.

Case study -- RBS provided £23m of debt facilities to support Falck Renewables extend the Kilbraur windfarm

in Scotland in 2011. The additional 8 turbines are now constructed and fully operational.

The wind farm is located in Strath Brora, Sutherland and consists of 27 x 2.5Mw turbines. When the wind farm is operating fully it generates enough clean, green electricity to supply around 37,400 average homes and help reduce reliance on existing less environmentally-friendly energy resources Case study -- Helius CoRDe biomass plant, UK secured £42.4 million of financing in 2011 to finance the construction, commissioning and operation of a 7.2MW Biomass project in Rothes, Morayshire, Scotland. The

project will help Scotland's whisky industry meet a commitment to reduce its reliance on fossil fuels, whilst generating enough electricity to power 9,000 homes. The plant saves 46,000 tonnes of CO2 per year compared to equivalent coal fired power stations 2011 Sustainability Report -- Energy financing is just one topic that features in RBS's 2011 Sustainability Report, 'Building a Sustainable RBS'. This year's publication continues to demonstrate the Bank's commitment to being transparent on social, ethical and environmental issues. RBS's approach to disclosure has earned AA1000 Assurance, a leading indicator of reporting good-practice.

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New Database Shows Three Quarters of World’s Poor Are “Unbanked” The FINANCIAL

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hree quarters of the world’s poor do not have a bank account, not only because of poverty, but also because of the cost, travel distance, and amount of paper work involved in opening one, says the World Bank .

Those without access to formal banking often have to rely on money lenders who often charge high fees. The “unbanked” are also less likely to start their own business or insure themselves against unexpected events.Financial inclusion, or being “banked” can be transformative, as it allows poor people to build a more secure future. The ability to save and borrow allows them to build their assets, start a business, invest in education, establish a credit rating, and eventually own a home.

"Providing financial services to the 2.5 billion people who are ‘unbanked’ could boost economic growth and opportunity for the world's poor,” said World Bank Group President Robert B. Zoellick. “Harnessing the power of financial services can really help people to pay for schooling, save for a home, or start a small business that can provide jobs for others. This new report on the world's 'unbanked' makes the case: the more poor people are banking today, the more they are banking on their future."

According to The World Bank , women are particularly disadvantaged when it comes to access to financial services. Only 37% of women in developing countries have an account, whereas 46% of men do. That gap is even bigger among those in poverty: Women living below $2 a day are 28% less likely than men to have a bank account.

Worldwide, 22% of adults report having saved at a formal financial institution in the past 12 months, according to the World Bank ’s Global Financial Inclusion Database, or Global Findex.

Findex provides the most comprehensive picture yet of how people around

the world save, borrow, make payments and manage risks.

Even among those who do have a formal bank account, only 43% of adults use their account to save. Yet 61% of account holders worldwide use their account to receive payments from an employer, the government or family members living elsewhere.

The data was collected by Gallup, Inc. using the Gallup World Poll Survey. The Bank’s Development Research Group is building the database with a 10-year grant from the Bill & Melinda Gates Foundation.

Few adults in developing countries use

formal financial products to manage risk.

More than 11% of adults in developing countries have an outstanding loan for emergencies or health-care needs, but more than 80% of these adults use only informal sources of credit. Of adults in developing countries working in farming, forestry or fishing, only 6% of them have crop, rainfall or livestock insurance.

“Good, comparable national data is so important for the development of effective policies. I hope policy makers will use this research to help make sure everyone, everywhere, has access to financial services,” said Her Royal Highness Princess Máxima of the Netherlands and

What is your Digital Personality?

The FINANCIAL

F

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.

For example, sixty-five percent of respondents aged 55 to 64 report surfing the Web and texting with friends while watching TV. Of those over age 65 watching TV, 49 percent surf the Web and 30 percent are texting. Eighty-two percent of surveyed global consumers aged 18 to 64 are embracing connected digital devices.

Moreover, consumers in China and the U.S. are moving away from traditional forms of media, with more than 50 percent using online sources for breaking news.

The New Personalities -- Today's connected consumers demand instant access to personalized content on their own terms. With the growth of digital devices, one-way communication and distribution of content is no longer feasible.

According to the IBM study, most users fall into one of four emerging personality categories: Efficiency Experts: With 41 percent in this category, these respondents use digital devices and services to simplify dayto-day activities. Efficiency experts send emails rather than letters, use Facebook to communicate with others, access the Internet via mobile phones, and shop online.

Content Kings: Are generally male consumers, who frequently play online games, download movies and music, and watch TV online. This audience represents 9 percent of the global sample.

Social Butterflies: Place emphasis on social interaction – they require instant access to friends, regardless of time or place. Fifteen percent of consumers surveyed reported they frequently maintain and update social networking sites, add labels or tags to online photos, and view videos from other users.

Connected Maestros: 35 percent of those surveyed take a more advanced approach to media consumption by using mobile devices and Smartphone applications to access games, music, and video or to check news, weather, sports, etc.

"Media companies need to engage with consumers based on their digital personalities, if they are going to maintain a sustainable and connected relationship, said Saul Berman, Global Strategy Consulting Leader,

IBM Global Business Services, and co-author of the study. "With the mass infiltration of digital devices, organizations can now enhance, extend or redefine the customer experience within minutes due to a steady stream of real-time data via social media. Future success is dependent upon successfully executing on insights based on this data, to reach the right consumer, at the right time and place, using the right tools."

According to the IBM study, media and entertainment companies' payment infrastructures need to be flexible and scalable to allow a variety of innovative pricing approaches to attract consumers with different preferences to their content. The need for payment option flexibility, even for the same set of

consumers, is apparent by looking at those most active in adopting new devices. This group's preferred mode of payment to watch a movie on a website is by viewing advertising that is included with the movie (39 percent of this segment chose this option), while they prefer to see movies on a tablet by purchasing a subscription (chosen by 36 percent). But to watch movies on a smart phone, they prefer to pay per use (the payment choice of 36 percent).

IBM surveyed 3,800 consumers in six countries – China, France, Germany, Japan, the United Kingdom and the United States for this study, and also met with global representatives in broadcasting, publishing, as well as media service agencies, and telecommunication providers, to evaluate digital consumption behaviors.

How Analytics Can Help -- Using analytics, media companies can now take advantage of existing consumer data to understand audience sentiment, online personalities and behavior. This new intelligence can be used to develop targeted advertising campaigns and personalized offers, as well as to boost customer service.

The 2010 IBM Global Chief Executive Officer Study reiterated that CEOs understand that in order to stand out in a competitive market, that they must effectively and consistently connect with the consumer.

Some are making strides and tapping into the new opportunities that are becoming available with this digital transformation.

By taking into account digital personalities and behaviors, media and entertainment organizations can add a layer of intelligence to customer interactions and develop innovative business models that can help respond and keep ahead of an increasingly complex marketplace.

the UN Secretary General’s Special Advocate for Inclusive Finance for Development.

Money transfers through mobile phones is a form of increasingly popular nontraditional banking that often doesn’t require users to travel or set up an account at a brick-and-mortar bank.

Such mobile banking, which allows account holders to pay bills, make deposits or conduct other transactions via text messaging, has expanded to16% of the market in Sub-Saharan Africa, where traditional banking has been hampered by transportation and other infrastructure problems. Kenya, where 68% of adults report using a mobile phone for money transactions, has seen particularly impressive growth in this market.

“Nearly two-thirds of the unbanked cite poverty as the obstacle to financial access, but about a third also blame the cost of opening and maintaining an account or the banks being too far away, which means long bus rides for many,” said Asli Demirguc-Kunt, the Bank’s director of development policy and chief economist of the Finance and Private Sector Network.

The Bank’s financial inclusion portfolio totals over $3 billion, with projects in over 60 countries. It supports country action plans for financial inclusion as well as increasing access to financial products and services such as credit, savings, payments, and insurance through low cost delivery mechanisms .

Mobile Powers UK Internet Usage Growth The FINANCIAL

T

he United Kingdom is Western Europe’s leading digital nation in terms of the percentage of its population that accesses the internet regularly and the amount of time spent online by those internet users.

According to eMarketer, a nearubiquitous, multilayered web infrastructure is keeping those percentages high, and usage is expanding to a larger swath of the UK’s demographic segments and being accessed via a wider variety of devices.

“For the three-quarters of the UK population who are web users, the internet is everywhere,” said Karin von Abrams, eMarketer senior analyst and author of the new report “UK Internet Usage: Top Trends in Europe’s Leading Digital Nation.”

“Consumers are accustomed to managing several web-enabled devices at once and experiencing simultaneous exposure to TV, mobile phones and the web.”

According to eMarketer estimates, 74.2 percent of the UK’s population— nearly 47 million people—will go online at least once per month this year, primarily from home, but they will be using an expanded range of devices while there, most notably smartphones and tablets.Mobile research company mobileSQUARED estimated there were more than 32 million smartphones in the UK in 2011 and expects that figure to double by 2015. eMarketer estimates more than 17 million in people in the UK will go online via mobile in 2012, and that number will rise to more than 20 million by 2015. Tablet usage is similarly on the upswing.

For marketers, increased mobile internet access in the UK will necessitate “creating strategies that make the best use of multiple platforms, but avoid irritating consumers with too many marketing messages,” said von Abrams.

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FINANCIAL

23 April, 2012 | finchannel.com

Mobile Shopping Taking Root in Emerging Markets The FINANCIAL

T Tbilisi Striving to Decrease Air Pollution The FINANCIAL

By Nana Mghebrishvili

A

new tramway will be open to Tbilisi residents in three years’ time. The length of the new tramline will be 14 Kilometres and it will link the 10th Building of Tbilisi State University to Ortachala crossing Vake. It will serve 100,000 passengers daily. Travel time will be 34 minutes per direction.

Trams are one of the most ecologically clean forms of transport and should alter the high rate of air pollution in Tbilisi. A tramway uses road area eight times more economical than auto transport. Meanwhile it has a special line on the road and

is therefore faster.

“The cost of the new project totals approximately 150,000,000 EUR,” said Akaki Jokhadze, Head of the Transport Service at Tbilisi City Hall. “We have ongoing negotiations with several organizations to get funds for this project. After finishing this we will start working on the second tramway line.”

“The tramway has several advantages including being ecologically clean,” he added.

Tbilisi has a responsibility to reduce emissions of carbon dioxide by 20 percent by 2020. The tramway will play a significant role in this, experts say.

Tbilisi City Hall has signed a memorandum with French company

Systra. According to the memorandum Systra has prepared the project of a new tramway line. This project was presented a few days ago and the building process will begin in the near future.

Experts consider the tramway to be a very positive development as it will reduce air pollution in Tbilisi significantly. The local result will be reduced emissions in the air. And at the same time it will have an influence on minimizing the effects of climate change. The more that world emissions decrease, the less of a negative effect global warming will have.

Making Tbilisi greener is one of the main strategies of Tbilisi Hall.

More and more parks are being built in the capital. But still the share of

green areas and parks per resident in Tbilisi is very low.

“According to international standards the share of green area per resident should be 25 square meters,” said Giorgi Korkashvili, Director of the Ecology and Greenery Department of Tbilisi City Hall. “This rate was 8 square meters in Tbilisi in 2009. But since then the situation has been improving significantly.”

“Tbilisi residents planted about 30,000 seeds of different trees last year under this project,” Korkashvili said. “This is not enough, but we have long-term projects of greening the city and making it ecologically cleaner. All of this combined should make Tbilisi’s air that much less polluted.”

Caucasus Region Facing Climate Change Problems The FINANCIAL

By Tako Khelaia

T

he Caucasus region is facing a climate change problem according to the Regional Environmental Center of the Caucasus (REC Caucasus). Because of the impact of climate change, a serious decrease of agro-biodiversity in arid and semi-arid ecosystems is expected, the vulnerability of which is confirmed by a number of studies in all three South Caucasus countries. “The Caucasus Region is exceptional for its agricultural species and a large variety of its wild relatives. Preservation of existing agrobiodiversity has great importance for agricultural sustainability and the welfare of the local community. This has become especially noticeable since climate change,” REC Caucasus notes. “”With regard to climate change, the Southern Caucasus region already shows climate induced changes with increasing temperatures, sea level rise, reduction and redistribution of river flows, decreasing snowfall and an upward shift of the snowline.

More extreme weather events have also characterized the last ten years with flooding, landslides, forest fires and coastal erosion with significant economic losses and human casualties as a result. This has also caused big losses of livelihood assets of rural communities, particularly of the poor and marginalized. It is evident that low income households are more vulnerable to such negative impact” said Sophiko Akhobadze, Executive Director of REC Caucasus.

“Our organization is working intensively hard on this issue. First of all we have to implement measures to facilitate adequate adaptation to climate change in the region Agriculture is a highly climate-sensitive sector A

more marginal and risky agricultural production environment, as increases in temperatures and reduced precipitation during critical crop and pasture growth periods cause a large moisture deficit and land degradation” Akhobadze said.

Currently available studies and projections indicate that Georgia will be exposed to: • Average temperature increases of 1.4 0C by the 2030s and 2.10 C by the 2040s; • precipitation decrease of 3%BY THE 2030s and 2040s; • Reductions in stream flow of 26 to 35% in the Alazani (Ganikh) Basin, and reductions in stream flow of 9-11% in the KhramiDebed Basin by 2100.; • Increased degradation of steppe ecosystems in the lowlands, upward shift of forests, expansion of invasive species, and increased frequency of extreme natural phenomena; • An increased exposure to new pests and diseases for agricultural crops, forests and livestock due to temperature increases.

“Farmers are having to change species corresponding to the change in climate. People need to be informed and trained in order to choose the exact and correct species to adapt to the changed climate. We are arranging some pilot projects in the affected region, we are working together with the European Union, World Bank, GIZ and many other huge organizations on this. We want to be more productive and make Georgian farmers receive information about the new species of crop they should use instead of the old ones,” Akhobadze stated.

REC Caucasus has organized the project Identification and Implementation of Adaptation Response to Climate Change Impact for Conservation and Sustainable Use of AgroBiodiversity in Arid and Semi-Arid Ecosystems of the South Caucasus.

According to organization officials, the objective of the project is to build adaptive capacities in South Caucasus countries to ensure resilience of agro-biodiversity of especially vulnerable arid and semi-arid ecosystems and local livelihoods to climate change. The project is being implemented in all three South Caucasus Countries with the financial support of the European Union. The project is co-financed by German International Cooperation Society (GIZ). The project started in March 2011 and will continue until 2014.

“In Georgia, Armenia and Azerbaijan environment protection issues are on the same level. Unfortunately, environment protection isn’t a high priority issue for any of these countries. Azerbaijan is an oil manufacturer country; correspondingly they have more resources and demand for environment protection. That’s why Azerbaijan spends more money on ecology than either Georgia or Armenia,” Akhobadze said.

“The most common problems in the region are loss of biodiversity, land degradation, waste management and unsustainable water use, connected with quality and quantity management issues. Non of the country in our region have a long term policy on integrated water resource management. In most cases there aren’t any disaster risk reduction and prevention strategy and action plan,” Akhobadze said.

According to Akhobadze Georgia doesn’t really have any wide scale pollution problems; the country is facing local effects of pollution though.

“The Government of Georgia is interested in solving the problem and they have concrete contingency plans to prevent large scale pollution. However most shores and rivers are polluted in Georgia. We lack of nature damage restoration services and mechanisms therefore. We also face waste management and sanitary

landfill problems in the country,” Akhobadze said.

“To sum up, the number one problem for Georgia is connected with landfills, which still hasn’t been solved. Another problem is loss of biodiversity. Georgia is one from those 25 eco region hotspots in terms of biodiversity. Some of the most valuable forest eco systems and many other valuable species and habitats have some serious problems. The other problem is the issue of land degradation, land erosion needs years to be solved. Another problem is connected with absent of integrated water management, which causes a high risk of disasters,” Akhobadze stated.

“The problem of air pollution is connected with the fact that Georgia is a transit country. Our government has quite liberal politics towards bringing used cars to Georgia. The condition of the air isn’t very good in Georgia’s big cities like Tbilisi, Batumi or Kutaisi. Many large and famous companies existing on the Georgian market are trying to implement filters and eco-frendly technologies. But there are many small companies who have no opportunity and are not aiming to install such expensive mechanisms in their plants,” Akhobadze said.

“All of the companies should be equal in their stance toward environment protection, no matter whether they are large or small. All companies should feel responsible for the environment,” she added.

According to Akhobadze, one of the biggest problems in Georgia is that civil society don’t have enough information about environmental problems and solutions. The country should introduce decision making mechanism allowing all the stakeholders to be engaged in this process as well as first of all evaluate the benefit and the damage, that we might face and handle a policy for successfully fighting against those problems.

he gap in online shopping between established and growth markets is narrowing in Asia/Pacific largely due to increased enthusiasm for mobile shopping in South East Asia markets, according to the latest MasterCard Worldwide Online Shopping Survey.

The survey, which serves as a benchmark that measures consumers’ propensity to shop online, was conducted across 25 markets between 5 December 2011 and 6 February 2012. The report for the Asia/ Pacific region included interviews with 7,373 respondents from 14 markets who were asked questions about their online shopping habits.

The survey and its accompanying reports do not represent MasterCard’s financial performance.

In terms of online shopping and purchase intent, the results show that once again, the gap is closing for online shopping in Asia/ Pacific markets between the “mature” and “emerging” markets. Thailand leads the pack both in terms of online shopping (80%) and likelihood to make an online purchase in the next six months (93%), alongside China. Korea (84%) and Malaysia (79%) also show high intent to purchase over the next six months, with Vietnam also showing similarly high intent to purchase (87%) despite a low percentage of people using the internet for online shopping (61%).

Overall, big increases occurred in Thailand (+13%), Australia (+10%), Indonesia (+15%), New Zealand (+9) and the Philippines (+15) in terms of online shopping, with declines recorded in India (-14%), Singapore (-10%), and Korea (-17%); although the latter still had high intent to purchase (84%).

In keeping with the Southeast Asian theme of growth in this space, Vietnam, which was introduced into the study this year, boasts an index score comparable to Malaysia and Indonesia.

Rise of Mobile Shopping Although a majority (71%) of respondents said they would rather use their laptop for shopping, the mobile phone is rising rapidly as the device of choice for Asian shoppers in emerging markets, with respondents in Thailand (59%), China (37%), Vietnam (32%) and India (32%) all leading more established markets.

Among the reasons given for using the mobile for shopping, most said it was more convenient (57%) and also cited the growing availability of apps that make it easier to do (46%). Music (24%) and apps (31%) topped the list among those who have made purchases through their mobile phones, followed by coupon deal sites (17%), retailers for clothing and accessories (17%), and cinema (16%).

“This survey shows that the markets once considered to be emerging in South East Asia are now in fact challenging—and in some cases overtaking—traditional and mature online markets in the region,” said Philip Yen, Group Head, Emerging Payments, Asia Pacific Middle East Africa at MasterCard Worldwide.

“On top of this, smart phones are gradually becoming the trusted device of choice for shoppers in our region and MasterCard is continually innovating to ensure convenience and security for consumers when they purchase online.”

CMYK

FINANCIAL HEADLINE NEWS & ANALYSIS

17

where to go

finchannel.com | 23 April, 2012 April 23, 2012

Clubs, Pubs…

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Tbilisi

TO

Depart

Arrive

Flight#

Aktau

7

03:10

05:20

DV 842

Amsterdam

1

06:10

07:55

A9 651

Almaty

1,4,6

08:55

14:35

KC E90

Athens

4

08:00

09:00

A9 693

Baku

DAILY

01:50;12:30

03:10;13:50

J2 224/226

Baku

DAILY

15:45;20:15

17:00;21:30

QR 975/977

X3,4

09:00;09:30

00:35;10:15

CRJ

Dubai

3.5

20:00

23:00

A9 703

Dubai

2.6

07:25

10:50

FZ 714

6

06:15

06:00

VV/713

Doha

DAILY

15:45;20:15

19:45;00:15+1

QR 975/977

Istanbul

DAILY

05:20;18:25

05:50 18:55

TK 1387/1383

Istanbul

DAILY

06:35

06:45

PC/738

Kiev

DAILY

18:20

19:00

VV 418

Kiev

DAILY

07:30

08:00

PS 728

Kharkov

3,6

06:30;11:00

06:20;10:50

A9 CRJ

London

1.3,4,6

05:40

10:00

BD 966

Minsk

DAILY

04:15

06:25

B2 1736

X4

04:55

06:00

LH 3215

Donetsk

Munich Paris

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Theatre

Day

Batumi

21:00 - Band “Wheels”, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00-23:00 - Georgian songs with live performance Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 20:30 - Maidan Jazz Band Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00 - Rezo Kiknadze - saxophonist Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Goblins” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

2.5

07:40

09:50

A9 627

Prague

1.3.5

05:20

06:10

OK 935

Riga

1.3.6

07:40

09:!5

BT 723

Tel-Aviv

3,4,5,7

04:30;21:00

05:10;21:45

A9 695

Vienna

4,7

08:55

09:25

A9 681

Urumqi

2,6

22:40

07:30+1

CZ 752

Warsaw

2.4,7

05:40

0620

E75

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20:00 - “Strip-Tease” Premiere (Ticket Price - 7, 10 GEL) Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 15:00 - “Mdzletamdzle and Nine Bandits” (big stage) 15:00 - “Goldhair” (small stage) (Ticket Price - 5 GEL) Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-7874, 295-39-27

19:00 - “I Love You, I Love You, I Love You” (Ticket Price - 5, 10, 15 GEL) Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 20:00 - “Strip-Tease” Premiere (Ticket Price - 7, 10 GEL) Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 12:00, 15:00 - “Goldhair” (small stage) 13:00 - “Mdzletamdzle and Nine Bandits” (big stage) (Ticket Price - 5 GEL) Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-7874, 295-39-27

Gallery Modern Georgian painters’ group exhibition “Spring”. In group exhibition are participating modern painters: Gia Khutsishvili, Lela Tabliashvili, Davit Gagoshidze, Eka Kakabadze, Nino Chitaishvili, Giorgi Gagoshidze... (Tuesday - Thursday: 11:00-19:00; Friday Sunday: 11:00-22:00) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90

April 24, 2012

Clubs, Pubs…

20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 21:00 - Band “Wheels”, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songs Restaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00-23:00 - Georgian songs with live performance Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 20:30 - Georgian folk ensemble “Urmuli”, georgian dances Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz Band Restaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Maia Kankava Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Goblins” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Clubs, Pubs…

21:00 - Band “Wheels”, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songs Restaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00-23:00 - Georgian Dances Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 22:00-01:00 - Group “Comic Condition” Tavern “Scarlet Sails” 25, Leselidze Str. Tel: 293-10-28 20:30 - Maidan Jazz Band Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00 - Live Band Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Zarebi” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Theatre 19:00 - “I’m craving for the straight wind” (Ticket Price - 6, 8 GEL) Rustaveli Theatre (Experimental Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Woman with Dog” (Ticket Price - 11 GEL) Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Women” (Ticket Price - 4 - 11 GEL) Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Jeans Generation” (Ticket Price - 5, 10, 12 GEL) Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “The country not known to us” (Ticket Price - 7 GEL) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 18:00 - “Marriage” (Ticket Price - 5 GEL) Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06 12:00 - “Goldhair” (small stage) 12:00 - “Mdzletamdzle and Nine Bandits” (big stage) (Ticket Price - 5 GEL) Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-7874, 295-39-27

Gallery 19:00 - Mindia Midelashvili is inviting you to the exhibition of photos printed by sun rays.

TBC Gallery 7, Marjanishvili Str. Tel: 227-27-27 19:00 - Gala Gallery presents Leila Shelia’s personal exhibition “White April”. Exhibition combines important paintworks of recent years - monument series of torsos, abstract works and still life. Gala Gallery 27 Atoneli Str. Tel: 293-14-18; Mob: 599 42-54-14 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90

April 26, 2012

Clubs, Pubs…

Concert

20:00 - Fred Wesley & The New JB Horns (Ticket Price - 50 GEL) Tbilisi Event Hall 1, Meliqishvili Str. Tel: 299-00-99

Theatre 19:00 - “The Visitor” (Ticket Price - 6 GEL) Rustaveli Theatre (Experimental Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Krapp’s Last Tape” (Ticket Price - 11 GEL) Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Euhena Balboa” (Ticket Price - 4 - 11 GEL) Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Rustaveli Theatre (Small Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “My Hamlet” (Ticket Price - 11 GEL) Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Pigmalion” (Ticket Price - 4 - 11 GEL) Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “A Clockwork Orange” +16 (Ticket Price - 5, 10, 15 GEL) Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Haraleti, haraleti” (Ticket Price - 10 GEL) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 20:00 - “Forbidden Games” (Ticket Price - 10 GEL) V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 19:15 - “Autumn of my Springtime” +10 (Ticket Price - 5, 10, 15 GEL) Gabriadze Theatre 13, Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 19:00 - “Krimanchuli” (Ticket Price - 5,50 GEL) Pantomime Theatre 37 Rustaveli Ave. Tel: 299-63-14 19:00 - “Patience and Hope” (Ticket Price - 7, 10 GEL) Akhmeteli Theatre 8 Vekua Str. Tel: 262-54-37, 262-59-73, 262-61-97 19:00 - Concert-Play “Arika Da Varika” (Ticket Price - 5 GEL) Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 12:00 - “Goldhair” (small stage) 12:00 - “Mdzletamdzle and Nine Bandits” (big stage) (Ticket Price - 5 GEL) Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-7874, 295-39-27

April 25, 2012

Gallery Gallery “Vernissage” is pleased to invite you to Tornike Matitaishvili’s personal exhibition. Painting - (Everyday 12:00-19:00) Gallery “Vernissage” 7, Brothers Zubalashvili Str. Tel: 299-88-08 Modern Georgian painters’ group exhibition “Spring”. In group exhibition are participating modern painters: Gia Khutsishvili, Lela Tabliashvili, Davit Gagoshidze, Eka Kakabadze, Nino Chitaishvili, Giorgi Gagoshidze... (Tuesday - Thursday: 11:00-19:00; Friday Sunday: 11:00-22:00) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90

3, Sanapiro Str. Tel: 2 365-365 20:30 - Georgian folk ensemble “Urmuli”, georgian dances Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz Band Restaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Guliko Chanturia Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Zarebi” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

21:00 - Band “Band’a’roll”, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - Resident DJ Tako Lounge Bar “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songs Restaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 22:00 - Maia Kvirkvelia & DJ Dachi Club “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Restaurant “Dzveli Sakhli”

Theatre 19:45 - “Spiritual Creatures” - (Ticket Price - 6, 8 GEL) Rustaveli Theatre (Small Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Roaming Soul” (Finger Theatre) (Ticket Price - 11 GEL) Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “Kakutsa Cholokashvili” (Ticket Price - 4 - 11 GEL) Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “Dolls’ House” (Ticket Price - 5, 7, 10, 12 GEL) Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Iron Boys” (Ticket Price - 10 GEL) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 20:00 - “Forbidden Games” (Ticket Price - 10 GEL) V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 19:00 - “Blaze” (Ticket Price - 5 GEL) Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 14:00 - “Mdzletamdzle and Nine Bandits” (big stage) (Ticket Price - 5 GEL) Tbilisi Nodar Dumbadze State Central Children’s Theatre 99/1, D. Agmashenebeli Ave. Tel: 295-7874, 295-39-27

Gallery Mindia Midelashvili is inviting you to the exhibition of photos printed by sun rays.

TBC Gallery 7, Marjanishvili Str. Tel: 227-27-27 11:00-19:00 - Gala Gallery presents Leila Shelia’s personal exhibition “White April”. Exhibition combines important paintworks of recent years - monument series of torsos, abstract works and still life. Gala Gallery 27 Atoneli Str. Tel: 293-14-18; Mob: 599 42-54-14 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90

April 27, 2012

Clubs, Pubs…

21:00 - Agora Live Band, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - Resident DJ Tako Lounge Bar “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songs Restaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 22:00 - Gio Khutsishvili & DJ Dachi Club “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 22:00-01:00 - Group “Comic Condition” Tavern “Scarlet Sails” 25, Leselidze Str. Tel: 293-10-28 20:30 - Maidan Jazz Band Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz Band Restaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Maia Baratashvili Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Zarebi” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Concert 20:00 - “Reflections” Premiere (Ballet in one act) (Ticket Price - balcony: 10 GEL; parterre: 20, 30 GEL) Tbilisi Concert Hall 1, Meliqishvilii Str. Tel: 299-05-99

Theatre 19:45 - “Mariam Stuart” (Ticket Price - 10, 15 GEL)

Gallery Mindia Midelashvili is inviting you to the exhibition of photos printed by sun rays.

TBC Gallery 7, Marjanishvili Str. Tel: 227-27-27 11:00-19:00 - Gala Gallery presents Leila Shelia’s personal exhibition “White April”. Exhibition combines important paintworks of recent years - monument series of torsos, abstract works and still life. Gala Gallery 27 Atoneli Str. Tel: 293-14-18; Mob: 599 42-54-14 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90

April 28, 2012

Clubs, Pubs…

21:00 - Veriko Turashvili & Live Band, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 22:00 - Live Band “Kereoni” Art Café “Caravan” 10 Purtseladze Str. Tel: 299-66-91 22:00 - Resident DJ Tako Lounge Bar “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Boris Bedia, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songs Restaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 22:00 - Merab Sephashvili & DJ Dachi Club “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 22:00-01:00 - Group “Comic Condition” Tavern “Scarlet Sails” 25, Leselidze Str. Tel: 293-10-28 20:30 - Maidan Jazz Band Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz Band Restaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Keti Paresashvili Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Rustavi 2” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Concert 20:00 - Concert of Georgian National Ballet “Sukhishvilebi” (Ticket Price - balcony: 10 GEL; parterre: 20, 30 GEL) Tbilisi Concert Hall 1, Meliqishvilii Str. Tel: 299-05-99

Theatre 19:45 - “Solar shading in Georgia” (Ticket Price - 10, 12 GEL) Rustaveli Theatre (Small Stage) 17, Rustaveli Ave. Tel: 272-68-68 19:00 - “Yellow Moon” (Ticket Price - 6 GEL) Rustaveli Theatre (Experimental Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Elder Son” (Ticket Price - 11 GEL) Marjanishvili Theatre (Theatre in Attic) 8 Marjanishvili Str. Tel: 2 955-966 20:00 - “I’ll Be Back” (Ticket Price - 4 - 11 GEL) Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “God! Save us and People” (Ticket Price - 5, 10 GEL) Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Bald-headed Singer Lady” (Ticket Price - 7 GEL) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 20:00 - “Pantheon” (Ticket Price - 10 GEL) V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 20:00 - “Strip-Tease” (Ticket Price - 7, 10 GEL) Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 19:15 - “Autumn of my Springtime” +10 (Ticket Price - 5, 10, 15 GEL) Gabriadze Theatre 13, Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 18:00 - “Killing a Man” (Ticket Price - 5 GEL) Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06

19:00 - “There where my home is” (Ticket Price - 7, 10 GEL) Akhmeteli Theatre 8 Vekua Str. Tel: 262-54-37, 262-59-73, 262-61-97 19:00 - “Dreams of Regret” (Ticket Price - 10 GEL) Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15

Gallery Mindia Midelashvili is inviting you to the exhibition of photos printed by sun rays.

TBC Gallery 7, Marjanishvili Str. Tel: 227-27-27 11:00-19:00 - Gala Gallery presents Leila Shelia’s personal exhibition “White April”. Exhibition combines important paintworks of recent years - monument series of torsos, abstract works and still life. Gala Gallery 27 Atoneli Str. Tel: 293-14-18; Mob: 599 42-54-14 18:00 - The group exhibition “Creative Path Studio”, which features the paintings and video art by the talented young Georgian artists - Salome Rigvava, Tamar Maglaperidze, Emzar Bazerashvili and Giorgi Rukhadze Tiflis Avenue @ National Bank of Georgia National Bank Of Georgia, 3/5 G. Leonidze Str. Tel: 240-64-06, 298-20-14 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90

April 29, 2012

Clubs, Pubs…

21:00 - Agora Live Band, DJ Datuna SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 19:00 - Show-program and many surprises. Singers: Giorgi Tsereteli, Giorgi Tsiklauri, Mzeona Makharadze Restaurant “Bermukha” Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 20:00-23:00 - “Kalakuri’s Quartet” - with live performance of city songs, and also universal songs Restaurant “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00 - Gia Suramelashvili, Ensemble “Prime” Restaurant “Prime” Temqa, III micro.distr. 5th. Tel: 235 95 40 22:00 - Karaoke Party! Host - Salome Gogiashvili & DJ Dachi Club “Kalakuri” 3 Shavteli Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Restaurant “Dzveli Sakhli” 3, Sanapiro Str. Tel: 2 365-365 20:30 - Georgian folk ensemble “Urmuli”, georgian dances Restaurant “Maidan” 6, Rkinis Rigi Str. Tel: 275-11-88; 590 75-11-88 21:00-24:00 - Jazz Band Restaurant “Chardin 12” 12 Chardin Str. Tel: 293-15-56; Mob: 577 480-460 21:00 - Live Band Café “Kala” 8/10 Erekle II Str. Mob: 599 79-97-37 21:00-24:00 - Band “Rustavi 2” (Covers) Pub “Dublin” 8 Akhvlediani Str, Tel: 298-44-67

Cinema Rustaveli Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 “Karlsson”; “The Players”; “Project X”; “The Hunger Games”; “Wrath of the Titans” 3D; “The Lion King” 3D; “Mirror Mirror”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Amirani” Cinema 36 Kostava Str. Tel: 299-99-55 “Karlsson”; “The Players”; “Last Walk”; “Ano and Vano’s Adventure” (Ticket Price: 7,50 - 16,50 GEL) “Sakartvelo” Cinema 2/9, Guramishvili Ave. Tel: 230-80-80; 269-66-47 “Karlsson”; “The Players”; “Project X”; “The Lion King” 3D (Ticket Price - 7 - 10 GEL)

Theatre 19:00 - “Hamlet.comX” (Ticket Price - 6 GEL) Rustaveli Theatre (Experimental Stage) 17, Rustaveli Ave. Tel: 272-68-68 19:45 - “Spiritual Creatures” (Ticket Price - 6, 8 GEL) Rustaveli Theatre (Small Stage) 17, Rustaveli Ave. Tel: 272-68-68 20:00 - “Traveler’s Letters” (Ticket Price - 4 - 11 GEL) Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 19:00 - “Flaming Lover” (Ticket Price - 5, 7, 9 GEL) Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 19:00 - “Free Couple” (Ticket Price - 10 GEL) Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 20:00 - “Pantheon” (Ticket Price - 10 GEL) V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 20:00 - “Strip-Tease” (Ticket Price - 7, 10 GEL) Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 19:15 - “The Battle of Stalingrad” +10 (in russian) (Ticket Price - 5, 10, 15 GEL) Gabriadze Theatre 13, Shavteli Str. Tel: 8 790 98-65-91 (MagtiFix), 298-65-90 12:00 - “Tale of King Saltan” (Ticket Price - 5 GEL) Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06 19:00 - “Pantheon” (Ticket Price - 7, 10 GEL) Akhmeteli Theatre 8 Vekua Str. Tel: 262-54-37, 262-59-73, 262-61-97 19:00 - “Dreams of Regret” (Ticket Price - 10 GEL) Ilia University Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15

Gallery 11:00-19:00 - Gala Gallery presents Leila Shelia’s personal exhibition “White April”. Exhibition combines important paintworks of recent years - monument series of torsos, abstract works and still life. Gala Gallery 27 Atoneli Str. Tel: 293-14-18; Mob: 599 42-54-14 The group exhibition “Creative Path Studio”, which features the paintings and video art by the talented young Georgian artists - Salome Rigvava, Tamar Maglaperidze, Emzar Bazerashvili and Giorgi Rukhadze Tiflis Avenue @ National Bank of Georgia National Bank Of Georgia, 3/5 G. Leonidze Str. Tel: 240-64-06, 298-20-14 12:00-22:00 - Mixed Exhibition of Georgian Artists (paintings, graphics, porcelain, enamel, woodcraft...)

Gallery “Cameo” 11, Rkinis Rigi Str. Tel: 272-48-72; Mob: 593 31-92-66 12:00-19:00 - Cloisonne Art Exhibition Enamel Gallery “Ornament” 7 Erekle II Str. Tel: 298-90-13 10:00-18:00 - Modern Fine and Applied Art Exhibition “Manana Art Saloon” 12, Baratashvili Str. Tel: 293-25-90 For more information, please, visit the following website:

www.info-tbilisi.com E-mail: afisha@info-tbilisi.com

CMYK

18

dining

HEADLINE NEWS & ANALYSIS

FINANCIAL

23 April, 2012 | finchannel.com

| places we strongly reccommend to visit |

La Brioche 16 Rustaveli Ave. 17 Akhvlediani Str. Tel: 2519 966

146 Agmashenebeli Ave., T/Fax: 291 02 49 E-mail: info@kenari.ge

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

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

Le Marais

Thai

Europe House

32 Abashidze Str. Tel: 222 40 83

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

# 2 Dadiani Str. Tel: 590 86 44 45

50 Chavchavadze Ave. Tel: 2 91 52 42

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

(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

D.Agmashenebeli ave.#154 Tel: 250 99 99 Mob: 225 99 99 www.green-office.ge

GEORGIA PALACE HOTEL

Radisson Blu Hotel, Batumi 1 Ninoshvili Str. Batumi 6000, Georgia Tel: +995 422 255 555; Fax: +995 422 228 888

Info.batumi@radissonblu.com radissonblu.com/hotel-batumi

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

Village Anaklia, Zugdidi, Georgia Tel: 2 60 99 90 2 60 99 91 www.hotelanaklia.com

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

www.sheraton.com/tbilisi

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

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

26 May Square Tel: 2 30 00 99 www.hi-tbilisi.com

Erekle II str.

Tel: 555 00 44 46

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

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

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

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

CMYK

FINANCIAL HEADLINE NEWS & ANALYSIS finchannel.com | 23 April, 2012 Nisha

19

| places we strongly reccommend to visit | SANCHO

I. abashidze Str. 39 Tel: 599 31 22 30

23, Akhvlediani Str. Tel: 298 25 98

Hangar Bar

TSISKVILI

dining

LITERATURULI CAFÉ 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

PREGO

64, Paliashvili Str. Tel: 225 06 69

Red Café Bistro & Cafe

2, Vazha pshavela Ave. Tel: 237 36 10 7, Paliashvili Str. Tel: 225 22 58 # 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

25, Tarkhnishvili Str. Tel: 225 25 16

27, Abashidze Str. Tel: 222 50 66 16, Akhvlediani Str. Tel: 293 60 52

DONUTS

VELTINS

DUBLIN IRISH PUB

Better seen than heard

24 24/

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

40, Chavchavadze Ave. Tel: 229 42 30

SIANG-GAN

PICASSO

41, Gamsakhurdia Str. Tel: 237 96 88

4, Vashlovani Str. Tel: 298 90 86

Prospero’s Books

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

37, Kostava Str. Tel: 298 37 67

Entree 13 Taktakishvili Str. 20 Rustaveli Ave. 19 Petriashvili Str. 7 Pekini Str. 78 Chavchavadze Ave. (Bagebi) Tel.: 599 21 53 83

8, Akhvlediani Str. Tel: 298 44 67

43 Abashidze Str. Tel: 222 60 18

DISCOVERY

www.citadines.com

VERA STEAKHOUSE

COFFEE GE

Better seen than heard

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

10/12, Abashidze Str. Tel: 225 39 85

# 71 Vazhaphavela Ave. Tel: 2201 211 info@redcafe.ge

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

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

BusinessTravelCom

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

CMYK

20

HEADLINE NEWS & ANALYSIS

green business

FINANCIAL

23 April, 2012 | finchannel.com

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