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Foreigners Back to Investing in Georgia

UAE Becomes Leader on the Georgian Perfume Market

See on p. 6

Tips to Help You Get to a Healthy Weight See on p. 16

The FINANCIAL

T

he UAE, Poland and China are the top three importer countries on the Georgian perfume market. While the majority of dealers assert that their perfumes are from France, this country makes up just 4% of total perfume imports in Georgia. Perfume import has

shrunk in Georgia in JanuaryAugust 2014 by almost 30 tonnes since the same period of the previous year.

585.4 tonnes of perfume worth USD 11,763.9 thousand was imported in Georgia during the first 8 months of 2014.

In 2013 the number was 555.7 tonnes, worth USD 11,216.2 thousand.

Continued on p. 15

Market Over 18 Tonnes of Twilight Condoms Imported

By FLORIAN BIERMANN ISET

L

in Georgia in 2014 The FINANCIAL

ast week, I began to discuss the question whether Francis Fukuyama’s hypothesis about convergence to liberal democracy and capitalism is at least partially right. While the countries of the world have not been moving towards democracy in the last 25 years, he could still be right that the future belongs to the markets.

Continued on p. 2

CURRENCIES Oct 18 1 USD 1.7520 1 EUR 2.2450 100 RUB4.2685 1 TRY 0.7787

Oct 11 1.7558 2.2244 4.3663 0.7696

G

eorgia imported 17.8 tonnes of condoms in the first eight months of 2014, which is 9.9 tonnes less than the figures of the same period of last year. The total amount of in-

vestment in import decreased from USD 564,400 to USD 496,300 in January-August 2014 compared to the same period of 2013. Condoms are mainly imported from Germany, Russia and China.

Continued on p. 16

Acknowledging Appearance Reduces Bias When Beauties Apply for Masculine Jobs, Says study See on p. 13 How Fashion and Beauty Trends Contributed to the Rise in Melanoma See on p. 12

© 2014 The FINANCIAL. INTELLIGENCE BUSINESS PUBLICATION WRITTEN EXPRESSLY FOR OPINION LEADERS AND TOP BUSINESS DECISION-MAKERS

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KHACHAPURI INDEX AS A MEASURE OF ‘ECONOMIC SECURITY’

A

ll khachapuri ingredients, except eggs, have significantly increased in price in September 2014 relative to the same month of last year: cheese added 19.7%, flour 17.2%, butter - 12%, yeast - 12%, and milk - 7.5%. While Imeruli cheese is a unique Georgian product, all other khachapuri ingredients can be imported or produced domestically. According to Geo-

By FLORIAN BIERMANN

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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

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in the price of flour suggests that Georgia is currently ‘importing’ inflation from the global market. Of course, like any country, Georgia keeps large stocks of wheat and other key commodities, providing a temporary cushion in case of global supply shocks. These stocks cannot last for too long, however. The vast economics literature on price transmission – i.e. adjustment of domestic prices in response to

price changes in the global commodity markets – suggests that, on average, prices fully adjust (particularly) upward within 2-3 months.

Wheat prices are carefully watched by governments around the world, just like 2000 years ago in Rome. Then and today, cheap bread and circus (or football and rugby) are key for a country’s economic security and political stability.

Market Twilight ISET

The FINANCIAL distribution network covers 80 % of key companies operating in Georgia. 90 % is distributed in Tbilisi, Batumi and Poti. Newspaper delivered free of charge to more than 600 companies and their managers.

To be included in the list please contact distribution department at: distribution@finchannel.com

Stat, in 2013, Georgia reached very high levels of self-sufficiency in such products as milk and eggs (around 90%). For wheat, however, Georgia heavily depends on imports, with only 10% of it grown by local farmers.

Wheat is a critical input for human and animal consumption, and a lack of domestic production makes Georgia extremely vulnerable to global price fluctuations. The 17.2% y/y increase

ast week, I began to discuss the question whether Francis Fukuyama’s hypothesis about convergence to liberal democracy and capitalism is at least partially right. While the countries of the world have not been moving towards democracy in the last 25 years, he could still be right that the future belongs to the markets. This week, however, I will argue that this is not the case.

CAPITALISM OF THE PAST: WARM AND COZY In the works of libertarians like Ayn Rand and David Friedman,

one can find a deep-rooted conviction that the outcomes of markets are not only efficient but also morally desirable. This contention is not as preposterous as one might think.

In a market, those are doing well who have to offer something other people desire. Typically, the object of desire may be ordinary capital or (qualified) labor.

Let us focus on the latter, because most people make their living by selling their labor. The abilities to write computer programs, conduct orchestras, and to teach mathematics, to name just a few, are demanded by other people, and thus generate income to those who have them. But also solid skills like cooking, carpentry etc. are demanded by others and lead to income.

Markets only yield unsatisfactory results for those who have nothing to offer, for example because they are old or heavily Continued on p. 19

Source: Wikimedia Commons

ATTENTION TO GEORGIAN COMPANIES and IMPORTERS On the 22nd of October 2014 National Export and Investment Agency «KAZNEX INVEST» under the Ministry for Investments and Development of the Republic of Kazakhstan in collaboration with the Georgian Chamber of Commerce are organizing a trade mission of Kazakhstan’s producers in Tbilisi.

Glad to invite everyone who is interested in developing trade relations with Kazakhstan.

Place of event: Radisson Blu, IVERIA hall. Starts at 10 am.

To confirm your participation please contact: 2 69 38 89; tk@gcci,ge

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20 october, 2014 | FINCHANNEL.COM

Kopenbur Providing Efficient Service for Georgian Customers The FINANCIAL

By MARIAM PAPIDZE

N

ew company on the insurance market Kopenbur has built up an impressive base of customers since it started operational activities and currently has representative offices in Batumi, Kutaisi and Poti, according to Ivane Kakhadze, General Director at Kopenbur. In the coming year it plans to add more cities to the ‘Kopenbur map’.

Its high quality service, innovative products and individual approach to customers are the main advantages of Kopenbur’s, and encourage the company to establish new, special standards on the Georgian insurance sector. Kopenbur plans to occupy a significant share of the market in the field of non-life insurance and to make it into the top three insurance companies by the end of 2015.

More than GEL 1.5 million was invested in Georgia by the newly opened insurance company Kopenbur which was established in Georgia in May 2014

by German founder and chairman of the supervisory board Franjo Vidichek.

Born in Croatia, Vidichek moved to Germany at the age of four and has lived there since. His first professional activities were linked to insurance. He currently has several businesses in both Bosnia and Croatia.

In Georgia Vidichek runs Kopenbur with local partner Zviad Chachanidze, a member of the supervisory board, and Ivane Kakhadze, CEO of the company.

Kopenbur works in the field of car, property, liability and cargo insurance for the retail as well as corporate segments.

In the initial stages the company will not be operating in the field of life insurance, but the supervisory board members do not rule out the possibility of being involved in this field later on. The company is focused on high quality and innovative insurance products. To this end, the company is planning strategic cooperation with a variety of Georgia’s leading companies.

The company will introduce such products and innovations that have not been released before by any market player, company representatives claim. Kopenbur serves individuals as well as legal entities. The insurance products which Kopenbur is introducing have been developed to fully fit local market requirements, the staff have all been prepared as well as service points, according to company officials.

Group insurance ‘Team Casco’ is the first of the innovative products that Ko-

IVANE KAKHADZE, General Director at Kopenbur

penbur has planned to introduce to its customers.

“In terms of car insurance Kopenbur has started introducing its new product group insurance Team Casco. The product enables customers to insure collectively, within one limit, to distribute costs and significantly reduce individual insurance fees for each member of the group. This allows for each member to have a significantly reduced insurance premium than they would otherwise have in the case of individual insurance.

What’s more, this is not all that we plan to do in the direction of car insurance.

We are going to add other innovative products soon,” Kakhadze said.

Currently, about 50 people are employed at Kopenbur and their number is increasing in accordance with the company’s growth.

When Kopenbur first opened, just 30 people were employed by the company.

Kopenbur is not going to offer any cheaper products or less expensive service to win over customers from other insurance companies, it instead aims to offer good service at appropriate prices.

“First of all, we put an accent on quality and not on low price. I do not think that it is right to be focused on offering cheaper prices as if you are providing truly high quality then it is impossible to have low prices too. The price should reflect the quality. Kopenbur will not be a cheap insurance company but it will be very high quality and have proper prices. In addition, Kopenbur does not have competitors in Georgia, on the contrary - it is we that are the competitors of the local companies,” Kakhadze said.

While talking about the contribution that Kopenbur will make in terms of developing the Georgian insurance market Kakhadze says that with the creation of innovative products the company will also cooperate with the Government to provide ideas for new regulations.

“Here in Georgia all the companies offer more or less the same insurance packages, which is not right.

We need to think about all the different customers and their different needs. It is impossible for one kind of insurance package to fit all kinds of different custom-

ers’ needs. We are therefore going to bring a wide range of insurance products to the market,” he said.

Our contribution to the development of the insurance market in Georgia is that we are going to bring innovative and very useful products here. We are also going to give ideas to the Government and the relevant officials in the insurance market in Georgia,” Kakhadze said.

“In general, insurance is a profitable business in Georgia. Perhaps some insurance companies have problems but in total overall market result are fine on the balance sheet. We intend to be included in the top three non-life insurance companies in Georgia by the end of 2015. It is everyone’s goal to achieve the best results and we will do our utmost to make this happen. The success will depend on our strategy, management, as well as all the products that we will be introducing to customers,” said Kakhadze.

Q. What is it that makes Team Casco an innovative product, and what competitive advantage does it have?

A. This product enables a group of people to share the risks and insure a car collectively, within one limit. Accordingly, they take on each others’ risks but in return they pay less for the insurance premium than they would pay in the case of individual insurance. Group insurance is available for three or more participants, which may have any kind of car no matter the brand, price or date of issue of the car.

Within the framework of group insurance the customers search for one insurance package as opposed to three separate individual insurances. This is a very comfortable offer for many.

For example, if three friends have cars worth USD 5,000, USD 10,000 and USD 15,000, then instead of purchasing three different individual insurance packages (the total limit of which would be USD 30,000), they can unite in Team Casco and get insurance under one common, efficiently-costing USD 15,000 limit.

Q. What partner companies do you have in the direction of car insurance and what joint

offers do you have with them?

A. We put an accent on high quality and distinguished standards when choosing our partner company. There is an agreement about a strategic partnership between Kopenbur and Tegeta Motors, which enables us to provide high quality service when it comes to necessity.

We also have other very important partners which are official car dealers.

As for joint offers for customers, together with Tegeta Motors we have designed a distinguished and unique product - whereby those who are insured at Kopenbur will benefit from a GEL 100 voucher service at Tegeta Motors, discounts on golden and silver cards, as well as car replacement for seven days a year in the event of an insurance necessity.

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20 october, 2014 | FINCHANNEL.COM

Foreigners Back to Investing in Georgia The FINANCIAL

By MADONA GASANOVA

R

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educing the unemployment rate, the distribution of wealth between the rich and the poor, and proper visa regulation for foreigners are the main challenges that Georgia is facing, according to the Dutch and Turkish Ambassadors. The Ambassadors positively estimate the Georgian economic climate and are encouraging their fellow countrymen to experience the opportunities that Georgia has to offer.

The Netherlands continues to head the list of countries with the largest volume of FDI in Georgia. USD 174,774,700 was invested during the first

Irakli Gharibashvili, Georgian PM and Zeki Levent Gümrükçü, Ambassador of Turkey to Georgia

half of 2014, up from USD 66,930,100 from the same period of the previous year.

The volume of FDI in Geor-

gia slumped by 10% in the first part of 2014, in comparison with the prior-year period.

“The business climate is

constantly improving in Georgia. The Netherlands has been the top investor in Georgia for many years. There is grow-

ing trust in the possibility of doing business here,” Hans Horbach, Ambassador of the Kingdom of the Netherlands

to Georgia and Armenia, told The FINANCIAL. “I can see that from companies from my country. An enormously important factor is the signing of the AA, which includes the DCFTA. That is creating a wealth of opportunity to increase trade on both sides.

Georgia has a politically stable climate, elections, and democratic reforms - all making huge progress, that all contribute to the investment climate, which is inductive to bringing foreign investors here,” Horbach said.

According to Horbach, during the past two years there has been steady progress in Georgia. He believes that this is also reflected politically. “The approach to Euro Atlantic structures and the signing of the AA brings Georgia closer to the EU and the EU closer to Georgia.

It is important that the agenda has not been controversial with the current government.

The previous government had this agenda and the current one has continued it quite well.

They have been relatively successful in attracting investments. And I am sure that this will be enhanced in the near future.”

Turkey is the fourth top Continued on p. 8

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THE AMBASSADORS OF TURKEY AND THE NETHERLANDS ARE ENCOURAGING THEIR CITIZENS TO INVEST IN GEORGIA

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FINANCIAL

20 october, 2014 | FINCHANNEL.COM

Natural-Looking Straight Teeth

NINO BERIDZE, owner of Nino Beridze’s Orthodontic Center

NEW TRENDS IN MODERN DENTISTRY AVAILABLE AT NINO BERIDZE’S ORTHODONTIC CENTER

The FINANCIAL

By MARIAM PAPIDZE

F

orget everything you have been told up until now - the ‘Hollywood smile’, having the brightest, whitest teeth, is not in fashion anymore. The most covetable, flattering smile is actually all about looking completely natural. Having beautiful, natural-looking teeth which have a straight structure is what is super trendy nowadays, according to Nino Beridze, owner of Nino Beridze’s Orthodontic Center.

“21st century dentistry in developed markets is putting an accent on preventive inspection, minimal invasion and a maximally natural aesthetic. All of this is achievable through computer technologies. Unnaturally white teeth are not popular anymore. Unfortunately, like many other trends, this one is also arriving in Georgia later than the rest of the world. This means that many Georgian patients are behind the times and are still asking for super white teeth,” Beridze told The FINANCIAL. “Everything that is advertised is very popular in Georgia including ceramic crowns and teeth veneers. Straightening one’s teeth with braces is in very high demand,” she added.

The dental clinic Nino Beridze’s Orthodontic Center upgraded some of its equipment by replacing it with modern equipment in 2014.

“We have purchased a very expensive tip sterilizer from

Germany, which is really a luxury for Georgia. This is because the safety of our patients is the most important and valuable thing for us. There is constant control over sterilization and disinfection at our clinic,” said Beridze.

As a result of active PR and marketing activities, more people have started to care about their dental problems, says Beridze. “People have more interest today in their oral hygiene and try more than ever to have a beautiful smile. I think our people’s history and lifestyle, which has been full of endless problems, has had an effect on the fact that a large part of the Georgian population is in need of some form of dental treatment. Nonetheless, a problem with one’s teeth can cause considerable inconvenience for people in a relationship. It can create a sense of inferiority. Altogether it can impact on one’s private life as well as the advancement of one’s career,” Beridze believes.

The prices of dental treatment have increased slightly, Beridze says. “The suppliers have increased prices and accordingly, we have increased our prices as well, but only slightly. We are directly dependent on the medical market,” she said.

Q. What is the gender distribution of your patients?

A. About 70% are female and 30% are male. Out of the total number, 60% are teenagers. We have foreign patients as well who make up 10% of our total number of patients.

As my dental clinic is an orthodontic centre, the main complaints of our patients are about getting their teeth straightened.

Q. Visiting the dentist is still a frightening thing for many people. How do you create an environment at your clinic that attracts patients who do not feel confident visiting the dentist?

A. A white coat is associated with doctors, hospitals, disease etc. One’s first contact with a dentist and subsequent emotions are crucial in any further treatment a person gets in their life. We have therefore decided to dress our personnel in pink coats instead of white ones. That way we are trying to create a maximally comfortable environment for our patients. We also provide a relaxing environment helped by playing pleasant music on our premises.

For children we have cartoons for them to watch. Parents react very positively to all of this and it should be underlined that listening to music helps one to forget about the stress you might otherwise be feeling in a situation.

Q. You often say that the way you work is innovative for Georgia - in what way?

A. We have a very purposeful and hard-working team.

All of our dentists are constantly improving their qualifications by keeping up with current innovations and modern standards. We provide consultations for problematic patients to find solutions to even the most complex of problems.

Q. You have many years of experience of working in the field of dentistry.

How would you assess the developmental stages of dental treatment in Georgia of the last 10-15 years?

A. During the last 10-15 years the Georgian dental sector has made quite a big step forwards. This was facilitated by free trade, increased competition and available information. Today, modern dentistry has moved to the aesthetic genre which means that the “patient” has become the “client”. People do not only visit the dentist when they have an aching tooth and swollen jaw. People are more oriented on aesthetics now, wanting to have a more beautiful smile. So, those who sell the product better will survive and see the benefits.

I would say that the word “patient” is associated with a person who is unwell. When it comes to the aesthetics no one wants to have the status of patient. That is why more people now prefer to be called “clients”.

In Georgia we are exactly in the middle of the process of moving from the mentality of people being “patients” to “clients”. The reasons why this process has taken so long are again the financial problems in the country, lack of information and bad memories people have about visiting the dentist.

Lack of a professional labour force is another problem. This is an issue in our country in many other sectors as well. We have the equipment and finances but lack a

good work force. There is a lot of work to do and we really need good professionals.

It would be better if the state mobilizes the resources it has and gets more involved in solving this issue.

Q. What is the general response that you get from your clients? What is their level of satisfaction?

A. We regularly monitor our patients’ opinions by reviewing evaluation forms which are filled out voluntarily and anonymously. I will not say that the evaluations are only positive and that there is never any disappointment from our clients. But we are here to listen to them and take into consideration all of their remarks, whether positive or not. However, the overwhelming feeling is very positive, which we can see through the fact that new clients come to our clinic based on the recommendations of existing ones. As for the remarks themselves, most of them are recommendations more than remarks, and are mainly about expanding the network of Nino Beridze’s Orthodontic Center, something to consider for the future.

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health & beauty How 10 Minutes Can Be Your Friend When You Want to Workout

O

ne of the biggest challenges to becoming physically active is finding a way for exercise to fit into your already busy life. Finding an extra 30 minutes in the day to exercise can seem overwhelming. But there’s good news! First, every bit of exercise can help get you on the path to a healthier you—so getting in a little bit is good for you (and better than not at all). Second, especially with cardiovascular activities, getting at least 10 minutes of continuous moderate activity 3 times per day seems to yield the same health benefits as 30 minutes 1 time per day. So, even if you’ve only got 10 minutes, you can do your body good by exercising.

Make the most of 10 minutes to exercise. Try these tips or make up your own!

Making the Most of 10 Minutes to Exercise

10 MINUTES OF CARDIO

Take 10 minutes on your lunch hour to go for a walk.

In the morning, walk up and down the stairs for 10 minutes.

Work off some of the stress of the day by jogging to your favorite tunes for 10 minutes (about 3 songs).

10 MINUTES OF STRENGTH TRAINING

While you’re watching TV in the evening, do 10 minutes of strength training—alternate exercises with soup cans and resistance bands.

Before breakfast, take 10 minutes to do 1 or 2 strength training exercises (e.g., bicep curls and lunges) to jump-start your day.

On a killer conference call? Do 10 minutes of squats, calf raises or push-ups when you’re not talking (and remember to put your phone on mute!).

Tobacco Control Research Branch of the National Cancer Institute.

U.S. Department of Health and Human Services

KSB Bank offers 3D promotion!

The FINANCIAL -- 3D promotion of KSB Bank has started!

Annual interest rate 8,9% (effective -12.6%), grace period: 3 months, credit card as a present (under the exclusive terms and conditions, interest rate -20%).

Hurry up, the promotion lasts only up to inclusive of 31 December. For any additional information, please, contact us to the following phone number: 255 00 00, from mobile phone: *5050, or visit any branch of KSB bank.

KSB is one of the first investment projects of Dhabi Group in Georgia. Sheikh Nahyan bin Mubarak Al Nahyan holds 45% of Dhabi Group’s shares.

He also heads the United Arab Emirates Ministry of Culture, Youth, and Social Development.

Dhabi Group incorporates diversified business directions: tourism, construction, real estate, development, production, offshore wells, banking and financial services.

20 october, 2014 | FINCHANNEL.COM

Foreigners Back to Investing in Georgia Continued from p. 6

investor in Georgia following Luxemburg, Azerbaijan and the Netherlands. Turkish investments amounted to USD 54,736,600 in the first half of 2014, up from USD 36,355,000 in the same period of the previous year.

“The business climate in Georgia is very suitable for us. It is evident from seeing the level of investments from Turkey.

Turkey is not the only trading partner of Georgia, but is one of the top investors in Georgia.

A couple of days ago I had a meeting with several Turkish businessmen who are still eager to invest in Georgia,” said Zeki Levent Gümrükçü, Ambassador of Turkey to Georgia.

According to Gümrükçü, energy is the most attractive business sector for Turkish investors. “Tourism, construction and health are also important sectors for Turkish investors.

There are certain things that we need to improve. As I am aware, the PM has also spoken about the new visa policy, which produced some questions. I think that the Georgian Government is heading towards that. Apart from that there are no problems that we cannot talk about and solve. The business community is especially happy to find a counterpart or receptive ear on the part of the Government and the Georgian business community.”

10 MINUTES OF STRETCHING

Several apps and YouTube videos have 10 minute stretching routines. Try one out!

After a walk, take 10 minutes to do some of your favorite stretches.

Whether you’re driving around or sitting at a desk all day, commit to standing up 1 time a day to do 10 minutes of stretching (2 times a day is even better!).

FINANCIAL

THE MAIN ADVANTAGES OF GEORGIA

said that the ongoing RussianUkrainian crisis is not having any negative impact on Georgia.

“Georgia is an exception. There is widespread support from the EU, especially since signing the AA, and in favour of the Euro Atlantic structure. These are favourable conditions that give investors trust in the future,” he explained.

From his own practice, Horbach suggests that promotion of Georgia on an international level is significant. “When I am in my home country and talk about Georgia not everybody knows about the opportunities of this country. The Government is doing something about it. We had the Minister of Economic Affairs who went to the Netherlands and had a sort of road show, where he presented the potential of Georgia to investors from my country. It was very successful. We had expected that one of the seminars where he spoke would have had thirty to forty Dutch companies, but in the end more than 100 turned up. So, it was a very successful visit. Now the Ministry of Economy is doing this more often and that is very useful.”

“I do my job as well. As the Dutch Ambassador in Georgia I work hard to promote Georgia in the Netherlands. I work in close cooperation with my Georgian colleagues in the Netherlands. We are not competitors but we both have an interest in making sure that our bilateral economic relations can further

“Georgia is a politically stable country. It has cheap labour.

The business climate is quite advantageous here. The prospect of the AA, the potential that Georgia will function as a hub between the Far East and Eastern Europe - these are all factors that make the country attractive to foreign investors. And last but not least it is the people, Georgians, who are very nice and open to work with. The business climate is transparent. The increasing rule of law and arbitration are also significant advantages of the country. According to the international statistics, Georgia is number eight on the doing business scale. On transparency, in terms of the corruption perception index Georgia is scoring fiftieth. If we look at the surrounding countries, they rank at one hundred, so that shows an enormous difference to its neighbouring countries,” said Horbach.

“Challenges for the future certainly include keeping up the trend of economic growth, and making sure that you distribute wealth between the rich and poor more evenly. Reducing unemployment is also a big challenge. So, foreign investments can play a key role in addressing these challenges,” said Horbach.

The Dutch Ambassador

intensify,” said Horbach.

Gümrükçü considers Georgia to be a strategically important country. “Anything that is good for Georgia is good for Turkey. I would love to see Turkish investors and the business community partnering with Georgia and contributing to the development of this country. For me, beyond any economic or commercial gains, it is strategically important that the Turkish business community is a part of Georgia’s business development. Georgia, as it is confirmed by international researchers, has a very good business environment, an investment-friendly climate.

This gives me reason to encourage my fellow businessmen to come and explore these opportunities. And the final decision is up to them on whether to invest or not,” said Zeki Levent Gümrükçü, Ambassador of Turkey to Georgia.

Gümrükçü believes that in terms of Georgia as a developing country, it has big potential. “By signing the AA and DCFTA with the EU, Georgia has considerably expanded its investment potential. This is another reason why the business community, not only Turkish, but others as well, should explore the new opportunities,” he said.

“The Georgian Government should take further steps to make the existing business climate more visible to the international business community, whether it is tax facilities, or financing facilities. The liberal

business and economic environment is a comparative advantage of Georgia’s in the region,” Gümrükçü believes.

“We are still going through a very delicate and difficult period. Both in terms of what is happening in Ukraine and in the Middle East. There are certain vulnerabilities but all of them are possible to overcome.

Through more cooperation, more decisive action, on the part of the international community they can be overcome. The economic potential, the social longing for more development, is definitely here. So, whatever the political conditions are that are overshadowing that, we need to make sure that these are properly dealt with, with effective management. What is happening both in the north and south of our region somehow affects not only the political and social environment, but also the economics. Therefore, we need to do everything to bring further stability, peace and prosperity to the region,” Gümrükçü told The FINANCIAL.

Media influence in ENPI East region: TV still hold top place

W

hile the world has grown increasingly smaller in recent decades, the biggest globalizing changes had already occurred long ago, especially when it comes to communications.

Five centuries ago Johannes Gutenberg introduced the mechanical printing press; in 1879 Thomas Edison patented the first commercial light bulb; in 1895 Gugliemo Marconi invented “the wireless telegraph,” later renamed the radio; in 1938 Philo Taylor Farnsworth pioneered the first TV set, and only in 1961 would Leonard Kleinrock come up with the idea of “Information Flow in Large Communication Nets” which formed the basis of the modern Internet. Of course this is but a laconic history of modern media development, and this week I present data on what contemporary citizens think about media influence on public opinion.

Our consortia (see below for full details) asked respondents within the ENPI Eastern region (Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine) how important of a role they think the media plays in influencing public opinion. The survey

Chart 1:

Importance of various media in influencing public opinion 87

TV

7

Radio

67

16

17

Press

67

16

17

62

WWW

Important

7

Unimportant

6

30

Don't know

Source: EU Neighbourhood Barometer survey, 2014.

found that the absolute majority of respondents think that all four media types play an important role in influencing the public opinion of citizens. This is particularly the case for television (87%), followed by radio (67%), printed press (67%) and websites (62%).

The absolute majority of respondents in every country thinks that each of the four media plays an important role in influencing public opinion: Television: A strong majority in every country thinks that television has an

important influence on public opinion. The highest figures are recorded in the Russian Federation (94%) and Ukraine (91%). Georgians are a bit “behind” with 87% of respondents naming television, which has almost universal coverage in Georgia.

Radio: Respondents residing in the Russian Federation (73%), Ukraine (72%) and Belarus (70%) are the most likely to think that radio plays an important role in influencing the public opinion of citizens. Around 45% of Georgians thought the same; however, radio listenership

(weekly) in Georgia is way behind compared with the other three countries.

Print media: Respondents in the Russian Federation (76%), Ukraine (73%) and Belarus (73%) are the most likely to consider that print media influences public opinion. 58% of Georgians also consider print media to be an influence on public opinion. But unlike the other countries surveyed, Georgian newspapers lack national coverage, nothing to say about circulation size of daily newspapers (hint: it does not exceed 5,000 copies).

Websites: The highest proportions of respondents in the Russian Federation (68%), Ukraine (65%) and Belarus (63%) are of the opinion that websites influence public opinion. Not far behind, 60% of Georgians have the same feelings about the influence of the World Wide Web. In summary, it appears that overall top three countries that are most likely to think that the public opinion of citizens is influenced by various media are: the Russian Federation, Ukraine and Belarus. However, when internet penetration in these countries (and in Georgia it is a bit above 40%) catches up

with that of TV coverage, the list of the top countries and media is likely to change.

The data presented in this column is derived from the EU Neighbourhood Barometer survey, which Georgian Opinion Research Business International is overseeing in 6 countries as part of a larger consortia led by TNS Opinion SA (Kantar Media SA and Particip GmbH). The project is conducted on behalf of the European Commission’s Development and Cooperation Office, Europe Aid and covers 16 partner countries and territories participating in the European Neighbourhood policy, plus Russia. Surveys were conducted in July 2014.

Since 2003, GORBI remains an exclusive member of Gallup International research network for its two decades of experience in survey research in postSoviet Union countries, as well as Mongolia and Iraq.

All surveys were conducted on a national representative sample of 1,000 respondents; data retains a 3% margin of error, with confidence at 95%. This data was provided exclusively to the Financial.

Please do not visit our site ( www.gorbi.com ); it is under construction.

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Nodar Khaduri: Minister of Finance of Georgia

“Our competitiveness is growing. We have made significant progress over the period of the last two years…A field such as macroeconomic stability is being improved.” points) to 69th (4.22 points) in the 2014-2015 Global Competitiveness Report of the World Economic Forum.

The structure of the Global Competitiveness Index consists of three main blocks.

These blocks are: general requirements, effectiveness stimulating factors and innovative factors. The general requirements include: state institutions, infrastructure, macroeconomic environment, basic education and healthcare. The effectiveness stimulating factors are: higher education, effectiveness of the labour and goods market, development of financial markets, technologies and the size of the market. As for innovative factors, these include: business development and innovations.

According to the 2014-2015 report, Georgia holds the 48th position in general requirements (4.88points), 79th in effectiveness stimulating factors (3.92 points) and the 118th position in innovative factors (3.1 points).

Macroeconomic stability is among the general requirements. According to the data of 2014-2015, Georgia holds the 48th position by its macroeconomic stability with 5.14 points. The macroeconomic stability is determined by five main components. These are: budget deficit, domestic sav-

Veriko SUKHIASHVILI FactCheck

O

n 3 September 2014, the Minister of Finance of Georgia, Nodar Khaduri, talked about the improvement of Georgia’s position in the world economic competitiveness rankings in his interview with the media. “It is very important that our competitiveness is growing. We have made significant progress over the period of the last two years and it isvery good that a field such as macroeconomic stability is being improved as it is the direct competence of the Ministry of Finance and the Ministry of Economy and Sustainable Development of Georgia,” said Khaduri.

FactCheck took interest in this statement and verified its accuracy.

The Global Competitiveness Report for 144 countries is published by the World Economic Forum (WEF) every year. The rating of every year is created based upon the data of the previous year.

For example, the 2014-2015 rating is based upon the 2013 data whilst the 2013-2014 rating reflects the situation in 2012.

Georgia improved its position from last year’s 72nd(4.15 Competitiveness Ranking

FINANCIAL

ings, inflation, government debt and the credit rating of the country. In 2014-2015, in these fields Georgia held the following positions: budget deficit – 40th position (1.3% to GDP), domestic savings – 72nd position (19.4%), inflation – 78th position (-0.5%), government debt – 41stposition (31.8% to GDP) and the credit rating of the country – 84th position (38.3 points).

According to the two-year old 2012-2013 report, Georgia held the 88th position by its macroeconomic stability, 37th by budget deficit (0.9% to GDP), 122nd by domestic savings (10.9%), 115th by inflation (8.5%), 53rd by government debt (33.9% to GDP) and 84th by the credit rating of the country (35.7 points).

In order to determine whether or not Georgia’s international competitiveness has improved, we looked into the reports published from 2008-2009 to 2014-2015.

The main data of the Global Competitiveness Report ratings are represented in the chart below.

According to the chart, the improvement of Georgia’s global competitiveness ranking started in 2010-2011. All of the main indicators have improved since 2011, except the innovative factors which vary from the 118th to the 122nd positions.

General Requirements

Effectiveness Innovative Stimulating Factors Factors

Macroeconomic Stability

2014-2015 69

48

79

118

48

2013-2014 72

57

86

122

61

2012-2013 77

64

87

120

88

2011-2012 88

86

89

117

137

2010-2011 93

95

94

121

130

2009-2010 90

85

89

117

117

2008-2009 90

91

87

109

118

CONCLUSION Georgia has improved its position from last year’s 72nd to 69thin the 2014-2015 Global Competitiveness Report of the World Economic Forum. According to the 2012-2013 Report, Georgia held the 77th position.

All of the main determinants of the ratings have been improved over the past two years. In the ratings of 2014-2015, Georgia holds the 48th position by general requirements (64th and 57th positions in the previous years) andthe 79th by effectiveness stimulating factors (87th and 86th in the previous years). The innovative factors field has also seen a slight improvement at the 118th position (120th and 122nd in the previous years).

According to the reports, the biggest improvement in the past two years was recorded in the field of macroeconomic stability. Georgia moved from the 88th position (2012-2013) to the 48th (2014-2015).

Based upon the analysis of the World Economic Forum’s recent reports, we conclude that Nodar Khaduri’s statement: “Our competitiveness is growing. We have made significant progress over the period of the last two years… A field such as macroeconomic stability is being improved,” is TRUE.

TRUE

The views expressed in this website are those of FactCheck.ge and do not reflect the views of The FINANCIAL or the supporting organisations

How Fashion and Beauty Trends Contributed to the Rise in Melanoma

C

hanging fashions, cultural attitudes and health beliefs have contributed to the rise of deadly melanoma skin cancer, according to a new study.

Researchers analyzed various social and economic trends in the United States from the early 1900s to modern times, including clothing styles, social norms and medical practices. They reported their findings in the Oct. 6 issue of the American Journal of Public Health.

Early in the 20th century, people’s clothes almost completely covered their body from head to toe. And, white skin was favored over tanned

skin, because tanned skin was associated with lower-class people who worked outdoors, the study said.

But attitudes about tanned skin changed and eventually it became a sign of good health and a leisurely upperclass quality of life, Dr. David Polsky, professor of dermatologic oncology at NYU Langone Medical Center, said in a medical center news release.

Also, there were important changes in medical beliefs, he added.

“In the early 20th century, sunshine became widely accepted as treatment for rickets and tuberculosis, and was considered to be good for

overall general health,” Polsky said. This led to a growing belief that tanning provided health benefits.

People also began to have more leisure time and started to wear swimwear and sportswear that covered less and less skin, the study explained.

As all these changes led to increased exposure of skin to the sun, there was a parallel rise in melanoma cases in the United States, according to the study.

“Attitudes and behaviors shape exposures. More skin, more sun and more tan lead to more melanoma,” Polsky said.

Source: HealthDay News

Study: Cosmetic Surgeries Doubled in Past 12 Years The FINANCIAL

D

espite the economic downturn of the early 2000s, cosmetic surgery grew from 2000 to 2012, in large part due to an increasing volume of minimally invasive procedures, including injectables. This growth, though not without appreciable deceleration at the low point of the recession, approximately doubled the volume of cosmetic surgery procedures being performed in the United States, according to the American Society of Plastic Surgeons.

While overall growth appears to have been unaffected by recent fluctuations in the U.S. financial markets, a decline in major cosmetic procedures, such as face lifts, exposed both vulnerability and opportunities for

cosmetic practices, according to a recent 12-year study that will be presented at Plastic Surgery The Meeting, the annual scientific meeting of the American Society of Plastic Surgeons (ASPS), Oct. 10-14, in Chicago.

While minimally invasive procedures (MIP) have shown steady growth each year, major surgical (MS) procedures have declined, decreasing 27 percent between 2006 and 2009, specifically. Researchers note that the increase in MIPs may be a result of an increase in patients who opted for direct payments to private plastic surgery groups. Rather than rely on insurance companies to pick up the cost of MIPs, these patients have followed pre-payment plans and other direct-pay models, as offered by the individual plastic surgery groups.

An analysis of U.S. financial statistics indicated that rates of

minimally invasive procedures in individual states can be affected by several factors, including the media, healthcare, real estate, food, unemployment and the overall Gross Domestic Product (GDP), which measures the monetary value of all finished goods and services produced within the United States during specific time periods, usually annually.

Major surgical procedure rates in individual states, on the other hand, were impacted by variables in the financial and legal arenas, as well as trends in the entertainment industry. Fluctuations in the unemployment rate and entrepreneurship also played a role in the decline of major surgical procedures. An awareness of and reaction to fluctuations in these economic arenas may be a useful tool for plastic surgeons to proactively manage a successful cosmetic practice.

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FINCHANNEL.COM | 20 october, 2014

Acknowledging Appearance Reduces Bias When Zurab Japaridze: Beauties Apply for Masculine Jobs, Says study “The 6 January 2014 Directive Parliamentary Minority MP

No. 40 of the Government of Georgia means directly giving a monopoly to a particular organisation (Georgian Post).”

PAST RESEARCH SHOWS PHYSICAL BEAUTY CAN BE DETRIMENTAL TO WOMEN APPLYING FOR MASCULINE JOBS. BUT BELLES CAN PUT THE BRAKES ON DISCRIMINATION BY ACKNOWLEDGING THEIR LOOKS DURING AN INTERVIEW, ACCORDING TO A NEW STUDY. The FINANCIAL

P

ast research shows physical beauty can be detrimental to women applying for masculine jobs. But belles can put the brakes on discrimination by acknowledging their looks during an interview, according to a new study led by the University of Colorado Boulder.

In the study, when an attractive woman applied for a job typically filled by men -- a construction job -- and said, “I know I don’t look like your typical applicant,” or “I know there aren’t a lot of women in this industry,” and pointed out successes on her resume, she received higher ratings from reviewers than counterparts who made no mention of their looks.

The paper, published in Organizational Behavior and Human Decision Processes, is the first to provide a method for curtailing such prejudice against attractive women.

“Turns out there’s merit in the old Pantene ad, ‘Don’t hate me because I’m beautiful,’” said Stefanie Johnson, lead author of the paper and assistant professor of management and entrepreneurship at CU-Boulder’s Leeds School of Business. “If a sufferer of female-beauty stereotyping addresses the issue, the perpetrator leaves behind preconceived ideas and is able to more clearly see her professional qualities.”

The acknowledgment method could work for job applicants with other types of potential stigmas like being a wheelchair user, said Johnson.

The study also identified the two main types of sexism that cause people to mentally disqualify women from masculine jobs. One, dubbed “benevolent sexism,” is paternalistic and causes individuals to see women as incapable and in need of protection from job difficulties and physical challenges or dangers. The other, dubbed “hostile sexism,” causes individuals to see women as violators of gender roles, encroaching on job turf that’s

Rati BAKHTADZE FactCheck

W

rightfully male.

For the study, 355 participants were divided into three groups. Each group looked at fictitious applications for a construction job opening.

The first group -- male and female undergraduate business students -- looked at four candidates, one of whom was either an attractive or unattractive woman.

The rest of the applicants were men. All of the applications included a photo, a written interview statement and a resume, which the participants rated for employment suitability.

Participants in the first group received different versions of either the attractive or unattractive woman’s application. A third of the women’s applications acknowledged their appearance; a third acknowledged their sex; and a third acknowledged neither. The raters who received the application of the attractive woman who had acknowledged her appearance or sex gave higher marks than those who received the application of the attractive woman who hadn’t acknowledged either.

Then a second group of male and female undergraduate business students participated in a similar review process. However, there was only one application from an attractive woman who acknowledged both her appearance and her sex in her interview statement.

This second part of the study sought to uncover the reasons why acknowledgment improves the ratings of attractive women. The participants were asked to rate how masculine and how spiteful they thought the attractive applicant was, as well as how suitable she was for the job.

This revealed two underlying types of sexism at play in the interview: hostile sexism in which attractive women were seen as violating their gender role when applying for masculine jobs, creating the impression that they’re cold and belligerent; and benevolent sexism, in which they’re seen as too feminine to do the job because of their beauty. Acknowledging the female-beauty stigma miti-

gates both, said Johnson.

“The participants’ perceptions of how bitchy she was decreased and their perceptions of how masculine she was increased because of the acknowledgment she’d given in the interview statement,” said Johnson. “Recognizing the fact that her appearance was atypical reduced the violation of her gender role and conveyed that she was capable of performing the job duties.”

The third group -- all male construction workers -- completed a survey that gauged whether they were sexist and which type of sexism they represented. The participants reviewed a similar application package as the other groups, except that the attractive woman and her interview were presented in a video rather than in a photo and written statement.

This part of the study aimed to show how acknowledgment affected the ratings of the two different types of sexists, according to Johnson. It influenced both.

“If you score higher on hostile sexism and the beautiful female applicant acknowledges her appearance and sex, you rate her less negatively -- you still might hate her for being there, but a little less. If you’re a benevolent sexist and she acknowledges, you rate her more positively,” said Johnson.

Examples of other jobs that could be considered masculine are engineer, accountant and prison guard, said Johnson.

Co-authors of the paper are Traci Sitzmann, assistant professor of management at the University of Colorado Denver, and Anh Thuy Nguyen, graduate student at the Illinois Institute of Technology.

Another issue they explored during the study was unattractive women who acknowledge their looks when applying for masculine jobs, said Johnson. There was no benefit to the acknowledgment, they found.

“In fact, it made the situation worse for unattractive women when they acknowledged their looks,” said Johnson. “They received lower ratings.”

hilst delivering a speech at the plenary session of the Parliament, the Parliamentary Minority MP, Zurab Japaridze, made a statement: “The 6 January 2014 Directive No. 40 of the Government of Georgia says, and I’m quoting, ‘In order to smoothly send and deliver all kinds of mailings and parcels, only Georgian Post will be authorised to import, process and deliver parcels…’ this means giving a monopoly to one particular organisation.”

FactCheck took interest in the accuracy of this statement.

On 24 June 2005, the Parliament of Georgia passed a Law on Licensing and Permits according to which postal services were no longer subject to licensing. The Regulatory Commission stopped issuing licenses for postal services and, as a result, stopped regulating the postal service market.

On 6 January 2014, the Government of Georgia adopted a Directive on Provisional Measures in the Field of Postal Services. One of the reasons for the Government to issue a Directive is when a particular issue is not regulated by the legislative act of Georgia and there is an urgent need for regulation.

The Directive of the Government says: According to the second point of Article 12 of the Law on Normative Acts, before the Georgian legislation on postal services is brought in compliance with the norms of international law, in order to ensure the unobstructed sending and delivery of mailings and parcels – based upon the 14 September 1994 international agreement on postalparcels, only Georgian Post will be allowed to: Import, process and deliver parcels that have been sent to Georgia by land or by sea. Also to receive, process and send

parcels outgoing from Georgia.

The land transportation of parcels that have been sent to Georgia by land or by sea, in order to process, deliver or send them.

The Ministry of Economy and Sustainable Development of Georgia has created a draft legislative act about the issue; however, it has not yet been sent to Parliament which means that the government Directive can be deemed revoked.

We also discussed this issue with the representative of the non-governmental organisation, Transparency International Georgia, Natia Kutivadze.

She explained that the aforementioned Directive was not the first to give Georgian Post a monopoly. Ms Kutivadze talked about the 25 January 2013 Directive No. 30 of the Minister of Finance of Georgia which provided for the imposition of legal barriers on the transportation market. According to our respondent, the aforementioned Directive discriminated against 20 other transportation companies, disrupted the existing balance on the market and restricted competition – all in favour of Georgian Post. Because of this, Transparency International appealed to the court and won the case. According to the court decision, the Directive No. 30 of the Minister of Finance of Georgia was abolished. Directive No. 40 of the Government of Georgia is quite similar to the Directive of the Minister of Finance.

It should be noted that according to Directive No. 40 of the Government of Georgia, only Georgian Post is allowed to import, process and deliver parcels. In addition, the weight and form necessary to determine whether or not a mailing is a parcel is also not determined which leaves room for interpretation.

Natia Kutivadze believes that the basis for the Directive is insufficient and does not justify the decision. In addition, the Directive does not specify why Georgian Post was chosen as the only operator and why

the other companies were restricted access to the market.

The fact that the liberalisation process (since 2005) facilitated the development of competition and that 40 companies are now operating on the postal services market should also be taken into account.

As for the international obligations, Georgia is a member of the Universal Postal Union and a signatory of the Universal Postal Convention. According to the main act of the Universal Postal Union, it is the obligation of the member state to make universal postal service available throughout its territory. The obligation of making universal postal service available throughout the country falls upon the chosen national operator.

Georgian Post is namedas a designated operator in the information about Georgia on the Universal Postal Union website.

The representative of the Ministry of Economy and Sustainable Development of Georgia also commented that Georgian Post has been carrying out these duties for years already and before the abolition of the Law of Georgia on Communications and Post, it was designated as a universal postal operator and owned a specific license. However, now, before a new law on the postal union is adopted, Georgian Post is only a de facto operator and has no de jure legal status.

Directive No. 40 of the Government of Georgia definitely does not concern the universal postal service in particular and it does not determine the weight and size of the parcels.

Hence, it is not correct that this Directive serves the fulfilment of international obligations.

The universal postal service (weight and size) is often determined by the states themselves.

In a number of the European Union member states, the universal postal service is a responsibility of a particular company; however, other companies are also allowed to provide the same service.

CONCLUSION According to Directive No. 40 of the Government of Georgia, only Georgian Post is allowed to import, process and deliver parcels that have been sent to Georgia by land or by sea. The Directive does not specify the weight necessary for an item to be considered a parcel. The Directive directly violates internationally accepted practice which gives an exact definition of the universal postal service.

Hence, Zurab Japaridze’s statement: “The 6 January 2014 Directive No. 40 of the Government of Georgia means giving a monopoly to one particular organisation,” is TRUE.

TRUE

The views expressed in this website are those of FactCheck.ge and do not reflect the views of The FINANCIAL or the supporting organisations

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health & beauty

FINCHANNEL.COM | 20 october, 2014

UAE Becomes Leader on the Georgian Perfume Market The FINANCIAL

By MADONA GASANOVA

T

he UAE, Poland and China are the top three importer countries on the Georgian perfume market. While the majority of dealers assert that their perfumes are from France, this country makes up just 4% of total perfume imports in Georgia. Perfume import has shrunk in Georgia in JanuaryAugust 2014 by almost 30 tonnes since the same period of the previous year.

585.4 tonnes of perfume worth USD 11,763.9 thousand was imported in Georgia during the first 8 months of 2014.

In 2013 the number was 555.7 tonnes, worth USD 11,216.2 thousand.

Out of the total volume, the major share - 141.9 tonnes was imported from the United Arab Emirates during the first eight months of 2014. 124.2 tonnes was imported from Poland, 115.6 tonnes from China, and just 20.9 tonnes from France.

The largest amount of growth has been shown in import from the UAE. The volume of imported perfume products increased by 106.5 tonnes during January-August 2014, in comparison with the same period of the previous year. The UAE is followed

by China. Import of perfume from China increased by 82.6 tonnes this year. This year,

the UAE has moved ahead of Poland, which was previously the lead exporter of perfume products to Georgia.

“The main problem on the Georgian market is the circulation of counterfeit products,” said Vakhtang Pkhakadze, President at Lutecia, perfume trade network.

“We need our government’s help to prevent the sale of counterfeited products as it damages the country’s economy in general. Such products are mainly being sold in nonbranded stores in Tbilisi. We want to found the Association of Perfumers in Georgia which will fight against such adulteration. So that there

is no need to buy counterfeit products at ‘lower prices’, the Border Service together with the Association of Perfumers should control the market so that it may be protected from the sale of black market goods.

We run advertisements worth EUR 30,000 per brand every New Year and in this way raise awareness of the brands. Our advertisements are used to the benefit of the merchants of counterfeit products however, which sell their products successfully as the brands are well known to consumers thanks to us. This is not fair at all. This is not good for the economy either,

or for business. Together with Yves Rocher we occupy half of the perfume and cosmetics market in Georgia,” he added.

Lutecia continues to import new arrivals on the Georgian market. “Molecule” is the new fragrance that the company has offered Georgian customers this year.

Bestselling brands at Lutecia include: Chanel, Dior, Estée Lauder, Tom Ford, Guerlain, Givenchy, Donna Karan, Swarovski and Loewe.

As it has recently become possible for Georgians to order perfume online, many customers have switched to this trend of shopping.

“Online shopping has an

impact on store sales. Whereas two years ago customers were less used to online shopping now this culture has changed. In order to save money customers are ready to wait for weeks till their order arrives. However, the impact that online shopping has on our business is minimal,” Mariam Robitashvili, Marketing Manager at Lutecia, told The FINANCIAL. “Ici-Paris has developed dynamically in Georgia and makes up a significant share of the perfume market,” said Paata Gigauri, one of the founders of Ici-Paris. “Today we have about 20 stores and many international brands here. The only thing that would prove helpful for improving the market today would be an increase in the general solvency of society.

Chanel, Elie Saab, Narciso Rodriguez, Carolina Herrera, Hermes, Cartier, Bvlgari, Gucci, Dolce & Gabbana, Burberry, Versace and Shiseido are the most demanded luxe brands in the stores of Ici Paris.

Facts About Ebola

A

t a time when Ebola is all over the news, here are the clear-cut facts about Ebola. Get informed and share this information with your friends and family to make sure they know the facts about Ebola.

HOW DO YOU GET THE EBOLA VIRUS? Ebola is transmitted through direct contact with bodily fluids of someone who is already showing symptoms of the disease, including: Bodily fluids of a person who is sick with or has died

from Ebola (blood, vomit, pee, poop, sweat, semen, spit, other fluids).

Objects contaminated with the virus (needles, medical equipment).

Infected animals (by contact with blood or fluids or infected meat).

Ebola is NOT spread through casual contact, air, water.

What are the symptoms of the Ebola virus?

The early symptoms of the Ebola virus include: Fever Headache Diarrhea Vomiting Stomach pain Unexplained bleeding or bruising Muscle pain Symptoms may appear anywhere from 2 to 21

days after exposure to the Ebola virus though 8-10 days is most common.

Ebola can only be spread to others after symptoms begin.

WHEN IS SOMEONE ABLE TO SPREAD THE DISEASE TO OTHERS? In order for the virus to be transmitted, an individual would have to have direct contact with an individual who is experiencing symptoms or has died of the disease.

Source: U.S Department of Health

Obesity May Speed Aging of the Liver HEAVIER PEOPLE MIGHT BE MORE PRONE TO LIVER CANCER, INSULIN PROBLEMS, RESEARCHERS SAY

E

xtra pounds cause the liver to age faster, potentially explaining why obesity is linked to diseases like liver cancer and insulin resistance, new research suggests.

It’s not clear if this aging directly translates to higher risks of certain diseases. Still, it’s possible that “people whose liver is much older than expected need to be screened more carefully for various diseases even if they managed to lose a lot of weight,” said study author Steve Horvath, a professor of human genetics and biostatistics at the University of California, Los Angeles School of Public Health.

Epigenetic aging is the aging rates of various tissues in the body. “According to the epigenetic aging clock, the vast majority of tissues, cell types and organs age at the same rate,” Horvath said. But these aging rates may differ from person to person.

“Some people are clearly older than others. Genetics plays a big role,” Horvath explained. “Twin studies show that about 40 percent of the variation in epigenetic age is genetic.”

The goal of the new study was to “understand why we age,” Horvath said. “One way of tackling this question it to understand which factors relate to the epigenetic age of different human tissues. Although many people probably suspected that excessive weight ages the body, there was no objective way of demonstrating such an effect,” he said.

The researchers reached their conclusions by studying 1,190 samples of human tissue, including samples from more than 130 livers. They found that the epigenetic age of the liver grew by 3.3 years for each 10 “body mass index” units. The BMI is a measurement of whether a person’s weight and height are proportionate; 10 units refers to the difference between BMIs of, say, 35 and 25.

“Assume there is a man who is 5-foot-8 and weighs 130 pounds. This slender man would have a body mass index of 20,” Horvath said. “Compare him to a man of the same age and height who weighs 230 pounds. The liver of this obese man -- who has a BMI of 35 -- would probably be five years older than that of the slender man.”

The researchers found that weight-loss surgery didn’t have any effect on the age of the liver. However, the study only looked at surgeries within the previous nine months, Horvath noted.

The researchers don’t know how excess weight may affect the liver, but they found some clues. “We found a very strong adverse effect on liver tissue but we did not find any effect in fat, muscle or blood,” Horvath said.

While an association between obesity and accelerated liver aging was found, a cause-and-effect link was not proven.

Source: HealthDay News

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health & beauty Family-based Therapies Can Treat Anorexia in Teens, Study Finds

P

arents can work with therapists to help their teenage children recover from anorexia, according to the largest randomized trial comparing two family-based treatments for the eating disorder.

Two different family-based therapies are both effective at combating anorexia nervosa in teenagers, according to the largest study ever to compare two such treatments for the lifethreatening eating disorder.

The findings, from a multisite study led by researchers at the Stanford University School of Medicine, add to a growing body of evidence supporting the value of parents’ involvement in anorexia treatment.

“The take-away message for parents is that, first, there is good treatment available for their child who is struggling with anorexia,” said Stewart Agras, MD, professor emeritus of psychiatry and behavioral sciences at Stanford and the lead author of the new study.

“Second, the preferred treatment is family-based therapy in which parents help their child regain weight.”

Anorexia nervosa patients suffer distorted body image, erroneously believing they are overweight. They overexercise and refuse to eat enough to maintain a healthy body weight.

The disease, which affects about 0.5 to 0.7 percent of adolescent girls, has one of the highest suicide rates of any psychiatric disorder.

INVOLVING, NOT BLAMING, FAMILIES “For a long time, people blamed families for causing anorexia and thought they should be left out of treatment,” said James Lock, MD, PhD, professor of psychiatry and behavioral sciences at Stanford and a coauthor of the study. “But this study suggests that, however you involve them, families can be useful, and that more focused family treatment works faster and more cost-effectively for most patients.” Lock directs the Comprehensive Eating Disorders Program at Lucile Packard Children’s Hospital Stanford.

The study, a randomized, controlled trial of 164 patients conducted at six sites in the United States and Canada, compared two forms of anorexia treatment that involved regular therapy sessions with adolescents and their families. One approach focused on teaching parents to help their children eat normally and regain weight at home. The other therapy attempted to resolve difficult family dynamics. Both therapies produced similar rates of recovery from anorexia, but patients treated with the first approach gained weight faster and needed less hospitalization, the study found.

The patients were ages 12-18 and had been ill with anorexia for an average of 13.5 months.

At the start of the study, all patients had body weights of at least 75 percent of what was considered ideal, meaning that physicians considered it safe for them to receive outpatient treatment. Nearly 90 percent of the patients were female. All had at least one parent who agreed to participate in treatment, which consisted of 16 one-hour therapy sessions over a nine-month period. The success of the treatments was evaluated at the end of the nine-month period and again a year later.

Source: Stanford University School of Medicine

FINANCIAL

20 october, 2014 | FINCHANNEL.COM

Over 18 Tonnes of Condoms Imported in Georgia in 2014 The FINANCIAL

By MADONA GASANOVA

G

eorgia imported 17.8 tonnes of condoms in the first eight months of 2014, which is 9.9 tonnes less than the figures of the same period of last year. The total amount of investment in import decreased from USD 564,400 to USD 496,300 in January-August 2014 compared to the same period of 2013. Condoms are mainly imported from Germany, Russia and China.

Only one in three adults in Tbilisi used a condom the last time they had sex - or just 31.8 percent of the more than 300 sexually active Georgians questioned for a recent survey run by The FINANCIAL. The majority of males that tend to have sexual intercourse without condoms are either married or in a monogamous relationship.

90% of respondents stated that their church would strongly disapprove if they knew they used a condom.

30% of those questioned said that they rarely use a condom with their wife or monogamous partner, for religious reasons.

Minimizing the risks of spreading sexually transmitted diseases is the main reason for using condoms among the majority (55%) of male respondents interviewed by The FINANCIAL. Acknowledging the health history of a potential partner with a medical certificate is still an absurd

prospect for 89% of respondents.

Only 12% of respondents welcome the decision to present a medical certificate, even if they have never demanded it from their partners. Many males (50%) not only denied the importance of health certificates but also added that they consider the prospect to be humiliating.

Quality is the main criteria when choosing a condom, according to the results.

Condoms are sold at all the main supermarkets and pharmacies. Their price varies from USD 0.5 to USD 3 per piece. Chinese condoms are

the cheapest and cost GEL 0.5 per piece.

The most popular and expensive brands are Sico and Durex.

“Condoms are the most widespread contraceptive used by Georgians,” Archil Khomasuridze, head of the Obstetrics and Gynaecology division at Tbilisi State Medical University, told The FINANCIAL. Khomasuridze said that out of the various sorts of contraceptives, prices of condoms in Georgia are high. “They are sold by pharmaceutical shops, so the companies list high prices for the condoms

3 Tips to Help You Get to a Healthy Weight

T

the same as they do for every other medicament.”

Khomasuridze said that using contraceptives has reduced the number of abortions conducted in the country and most abortionists have lost their jobs and main source of income as a result.

“Doing abortions is no longer a profitable business in Georgia. Gynaecology used to be a very competitive profession as people made lots of money from doing abortions.

However, the Zhordania Institute has already refused to perform abortions and I think that in three years’ time there will be no more abortions

Understanding Links Between Smoking & Weight

here is no magic number for healthy weight. But, when people are overweight and especially when they get into the obese range, they are at risk for some pretty serious health problems. The good news is that you don’t have to get all the way down to “normal weight” to be healthier.

START WITH 5-10%.

Losing just 5-10% of your weight through increased physical activity and healthier eating can lead to huge health benefits. What does this mean? If you currently weigh 250 pounds, losing 5-10% of your weight would mean losing about 13 - 25 pounds. Just this much weight loss can lower your risk for diabetes, heart disease, stroke, and some forms of cancer. Plus, you will likely get some results that you can feel – like having more energy, feeling less out of breath, and having fewer aches and pains.

CELEBRATE YOUR MILESTONES. Even though a 5-10% body weight loss is good for your health, it may not feel like enough. Maybe you’ve been

battling a negative body image and you’re not feeling comfortable in your own skin.

Or maybe you’ve been focused on the number on the scale and it’s not quite where you want to be. An important part of staying motivated to lose weight comes from celebrating milestones, whether it’s reaching that first goal of 5% weight loss or noticing how much better you feel and move in your everyday life.

Every step you make toward your goal is a step to a healthier you.

REMEMBER SLOW AND STEADY WINS THE RACE. Trying to lose weight with extreme diets or over-the-top workouts often doesn’t last because you can’t keep it up over the long-term. Remember, the key to losing weight and keeping it off is slow and steady weight loss.

Source: U.S. Department of Health and Human Services

being done in Georgia,” he added.

Abortion is allowed by Georgian law during the first twelve weeks of pregnancy.

According to the Centers for Disease Control (CDC), since 1973 roughly 50 million legal induced abortions have been performed in the United States. Worldwide, there have been over 1,260,000,000 abortions performed.

A ‘mini abortion’ costs GEL 100 in Georgia. As for a ‘medication abortion’, it costs GEL 147. Through the use of a drug, a medication abortion first causes the pregnancy to terminate and then causes the uterus to expel the products of conception.

In December 2012, a group of Georgian lawmakers initiated unprecedented changes making some kinds of condoms illegal. Namely, those which according to the manufacturers enhance sexual pleasure. According to the proposed amendments only the sales of classic condoms would remain legal. The discussions at Parliament did not find a final resolution and accordingly, the issue was closed.

M

aybe you quit smoking to do something good for your health, and now you’ve noticed the pounds adding up on the scale. Or maybe one of the reasons you’re not quite ready to quit is that you’re afraid of gaining weight.

Here are some of the reasons why some people gain weight when they quit: 1.

Smoking lowers your appetite.

Smoking cigarettes makes you feel less hungry. So, when you quit smoking, you might feel hungrier and then eat more than you used to eat.

2. Smoking increases your metabolism.

Smoking cigarettes increases your metabolism, so you burn more calories.

So when you stop smoking, you may burn fewer calories which can lead to weight gain.

3. Eating can be a substitute for smoking.

Smoking gave you something to do with your hands and something to put in your mouth. For a lot of people, food replaces cigarettes. And the more you reach for food, the more likely it is that you will gain weight.

4. Eating may soothe the feelings that smoking used to soothe.

Maybe smoking was your go-to when you were feeling bad. When you stop smoking, you may find that you turn to eating to feel better or to deal with stress—but this can backfire and result in weight gain.

The good news is that you can take charge of your weight even while quitting smoking.

Source: U.S. Department of Health and Human Services

CMYK

FINANCIAL HEADLINE NEWS & ANALYSIS

17

energy prices in europe

FINCHANNEL.COM | 20 october, 2014

Tips for Eating More Fruits, Vegetables, & Whole Grains

FUEL PRICES ELECTRICITY HOUSEHOLDS FUEL TAXES

W

e all know fruits, vegetables, and whole grains are an important part of a healthy diet. But most people don’t eat enough of these healthy powerhouses. An easy way to make sure you’re getting enough of the good stuff is to find new ways to mix them into meals you already enjoy. And aim for making ½ your plate full of fruits and veggies.

Try increasing your fruits, vegetables, and whole grains by following these tips.

GETTING MORE OUT OF BREAKFAST: Add some vegetables to eggs for a veggie scramble or omelet.

Or add fresh fruit to cereal, oatmeal, low-fat yogurt, or whole wheat pancakes or waffles.

GETTING MORE OUT OF LUNCH: Add some vegetables to your sandwich or wrap or have reduced- or low-sodium vegetable soup. Like tuna or chicken salad? Try adding chopped apples,

FUEL PRICES

Actual prices per one liter of fuel. Download fuel prices per EU country, from January 2000 onwards.

January 5, 2013

Unleaded (Superbleifrei, Euro sans plomb, Euro95)

Country Austria

pears, raisins, or other dried fruit.

More of a lettuce or spinach salad person? Add beans—like black beans or chickpeas.

GETTING MORE OUT OF DINNER: Steam or stir-fry some veggies to top off whole wheat pasta or brown rice. Make shish-kabobs by putting lean meat and vegetables on a skewer. Use crushed, unsweetened whole grain cereal as breading for baked chicken or fish. Next time you order (or make) pizza, sub out one meat for more veggies.

GETTING MORE OUT OF SNACKS:

Retail Price € 1.390

Belgium

€ 1.636

Bulgaria

€ 1.265

Cyprus

€ 1.348

€ 1.054

€ 1.133

€ 1.492 2.08 лв.

€ 1.304

€ 1.152

€ 1.233 2.55 лв.

€ 1.087

€ 1.407

2.13 лв.

€ 1.203

Czech Republic

€ 1.393

35.00 Kč

€ 1.151

28.93 Kč

€ 1.433

36.00 Kč

€ 1.184

29.75 Kč

Denmark

€ 1.607

11.99 kr

€ 1.286

9.59 kr

€ 1.460

10.89 kr

€ 1.168

8.71 kr

Estonia

€ 1.239

€ 1.033

€ 1.293

€ 1.078

Finland

€ 1.603

€ 1.293

€ 1.521

€ 1.227

France

€ 1.650

€ 1.380

€ 1.493

€ 1.248

Germany

€ 1.577

€ 1.325

€ 1.453

€ 1.221

Greece

€ 1.681

Hungary

€ 1.387

Ireland

€ 1.590

€ 1.367 407 Ft

€ 1.092

€ 1.411 320 Ft

€ 1.424

€ 1.293

€ 1.147 418 Ft

€ 1.531

€ 1.448

329 Ft

€ 1.121 € 1.245

Italy

€ 1.752

Latvia

€ 1.319

Ls 0.922

€ 1.090

Ls 0.762

€ 1.321

Ls 0.923

€ 1.092

Ls 0.763

Lithuania

€ 1.360

Lt 4.70

€ 1.124

Lt 3.88

€ 1.299

Lt 4.49

€ 1.074

Lt 3.71

Luxembourg

€ 1.317

€ 1.697

€ 1.145

€ 1.402

€ 1.218

€ 1.059

€ 1.380

€ 1.169

€ 1.491 4.46 zł

€ 1.364

€ 1.232 5.56 zł

€ 1.109

€ 1.489 4.56 lei

4.52 zł

€ 1.211

€ 1.309

5.83 lei

€ 1.056

€ 1.431

4.70 lei

€ 1.193

€ 1.385

€ 1.154

€ 1.343

€ 1.110

11.34 kr

€ 1.642

14.14 kr

€ 1.314

11.31 kr

£ 1.101

€ 1.714

£ 1.394

€ 1.428

£ 1.162

€ 1.432

€ 1.181

Two consumption levels are identified. Research methodology.

ELECTRICITY HOUSEHOLDS

Source: U.S. Department ofPrice data mentioned may not reflect the latest insights found in the commercial editions.

Health and Human Services

Retail (end-user) energy prices for households.

Reference month: May 2012.

Two consumption methodology.

Historical price data going levels back toare theidentified. year 2000,Research visit EU Energy History.

Price data mentioned may not reflect the latest insights found in the commercial editions.

serving and start with veggies.

4. When ordering at a restaurant, ask for a take-home container as soon as your meal comes. Put half of the meal in the take-home container so you’re sure to let your stomach—instead of your eyes—be your guide. Or share the meal with a dining companion. Many restaurants offer a smaller or “appetizer size” of entrees, so when a smaller portion is available, go for it!

5. Buy or portion out treats and snacks in small, single-serving bags or packages.

Source: U.S. Department of Health and Human Services

Consumption: 7,500 kWh/year (± 30%)

Country month: May 2012. € per kWh Electricity Country Reference Austria € 0.1988 Austria Historical price data going back to the year 2000, visit EU Energy History.

BelgiumConsumption: 3,500 kWh/year € 0.2134 (± 25%) BulgariaCountry

after all. If you do go back for seconds, aim for the same balance you had with your first

Price (Excluding VAT)

€ 1.359

€ 1.352 2.49 лв.

Blend fruits with low-fat yoMalta € 1.500 € 1.271 gurt and a splash of low-fat milk Netherlands € 1.782 € 1.473 for a healthy smoothie. Cut up Poland € 1.347 5.49 zł € 1.095 fruits and veggies and eat them Portugal € 1.749 € 1.422 with hummus or peanut butRomania € 1.271 5.66 lei € 1.025 ter or other nut butters. Try a Slovakia € 1.504 € 1.253 mix of unsalted nuts, raisins, or Slovenia € 1.486 € 1.238 other dried fruit and your favorSpain € 1.372 € 1.134 ite whole grain cereal. Snack on Sweden € 1.646 14.18 kr € 1.317 popcorn (easy on the salt and United Kingdom € 1.624 £ 1.321 € 1.353 butter) or try some whole wheat EU AVERAGE € 1.496 € 1.234 pretzels.

Retail (end-user) energy prices for households.

5 Tips for Managing Portion Size

E

Retail Price

€ 1.158

Consumption: 3,500 kWh/year (± 25%)

ating healthy is about enjoying your food while also managing portion size.

Most people eat and drink more than their bodies need especially when they are served larger portions. So, choosing smaller portions to begin with is important for maintaining your overall health and well-being.

Here are some tips to help you manage your portion size: 1. Eat you meals on a smaller plate. The smaller your plate, the smaller your portion.

2. Finished your plate but think you’re still hungry? Wait 10 minutes before going back for seconds.

3. You might not want them

Diesel (Gazole, Gasóleo)

Price (Excluding VAT)

€ 0.0829€ per kWh Electricity

€ per kWh Electricity € 0.1798

Belgium Consumption: 7,500 € 0.1940(± 30%) kWh/year € 0.0823 € per kWh Electricity

Bulgaria Country

Cyprus Austria

€ 0.2850€ 0.1988

Cyprus

Czech Republic Belgium

€ 0.1480€ 0.2134

Czech Republic Belgium

€ 0.2800 € 0.1798

Austria

€ 0.1276 € 0.1940

Denmark Bulgaria

€ 0.2982€ 0.0829

Denmark Bulgaria

€ 0.2562 € 0.0823

EstoniaCyprus

€ 0.0989€ 0.2850

Estonia Cyprus

€ 0.0948 € 0.2800

FinlandCzech Republic

€ 0.1566€ 0.1480

Finland Czech Republic € 0.1369 € 0.1276

France

€ 0.1412

France

€ 0.1279

Germany

€ 0.2541

Germany

€ 0.2406

Greece

€ 0.1265

Greece

€ 0.1553

Hungary

€ 0.1708

Hungary

€ 0.1616

Ireland

€ 0.1920

Ireland

€ 0.1604

Italy

€ 0.2031

Italy

€ 0.2485

Latvia

€ 0.1187

Latvia

€ 0.1193

Lithuania

€ 0.1200

Lithuania

€ 0.1201

Luxembourg

€ 0.1707

Luxembourg

€ 0.1587

Malta

€ 0.1695

Malta

€ 0.1829

Netherlands

€ 0.2208

Netherlands

€ 0.2439

Poland

€ 0.1488

Poland

€ 0.1419

Portugal

€ 0.1689

Portugal

€ 0.1547

Romania

€ 0.1095

Romania

€ 0.1074

Slovakia

€ 0.1677

Slovakia

€ 0.1501

Slovenia

€ 0.1447

Slovenia

€ 0.1335

Spain

€ 0.1959

Spain

€ 0.1777

Sweden

€ 0.2098

Sweden

United Kingdom

€ 0.1419

United Kingdom

€ 0.1821 EU Blue Card - Connect to EU Jobs € 0.1265

Notes:

The Future of UK Family Businesses The FINANCIAL

U

K family firms need to upgrade the processes, governance and skills within their business, and their own families, to stay ahead of hungry new competitors and remain relevant in a rapidly changing business environment, says a new report published by PwC last week.

The report finds that only 13% of UK family businesses have a succession plan that has been discussed and documented, and only 16% of their turnover is from foreign markets, compared to 25% of family business turnover globally. A

mere 8% of UK family firms say they aim to expand aggressively in the next five years, compared to numbers as high as 57% in China, 40% in the Middle East and 40% in India. Worryingly, while 64% of family businesses globally cite innovation as a key challenge over the next five years, only half of UK family firms agree.

“There’s worrying evidence that, as they age, growth and innovation become a lower priority for family businesses. Third, fourth or later generations place more emphasis on ensuring that the business remains in the family. In today’s environment though, no business can afford to stand still,”Sian Steele, partner, PwC said.

There are signs that the focus of family businesses is turning inwards as they consider what needs to change. In 2012, 64% of UK firms questioned said they had a strong sense of responsibility to support community initiatives, but that number has fallen to 45% this year. Likewise, as the economic environment has improved, there has been a fall in family business leaders’ feeling that they need to retain staff and support jobs.

Some 43% of UK family businesses want to pass the business on to the next generation wholesale, while 22% (a significantly lower proportion than the globally) say they want to pass on ownership, but also bring in professional management.

- Amount is in euro (€) per kiloWatthour (kWh).

The price components that make up the retail oneaverage liter of fuel.

- Price data for non-eurozone countries are inprice euro.forThe exchange rate valid for the referenced month is applied.

- Prices include: market price, transmission through main and local networks, administrative charges and all taxes.

Crude - Purchase price of one liter of crude.

Margin - Refining, transportation, insurance, stockpiling, distribution and sale to consumers.

Excise duties and VAT - Taxes levied by local governments. May include environment related taxes.

FUEL TAXES January 5, 2013

Unleaded (Superbleifrei, Euro sans plomb, Euro95)

Country

Crude

Austria

€ 0.512 € 0.164

Belgium

€ 0.512 € 0.226

Margin Excise duties

Diesel (Gazole, Gasóleo)

VAT

Retail price

€ 0.482

€ 0.232

€ 1.390

€ 0.512 € 0.224

Crude

Margin Excise duties € 0.397

€ 0.227

VAT

Retail price € 1.359

€ 0.614

€ 0.284

€ 1.636

€ 0.512 € 0.293

€ 0.428

€ 0.259

€ 1.492 € 1.304

Bulgaria

€ 0.512 € 0.179

€ 0.363

€ 0.211

€ 1.265

€ 0.512 € 0.253

€ 0.322

€ 0.217

Cyprus

€ 0.512 € 0.281

€ 0.359

€ 0.196

€ 1.348

€ 0.512 € 0.361

€ 0.330

€ 0.204

€ 1.407

Czech Republic

€ 0.512 € 0.123

€ 0.516

€ 0.242

€ 1.393

€ 0.512 € 0.232

€ 0.440

€ 0.249

€ 1.433

Denmark

€ 0.512 € 0.187

€ 0.587

€ 0.321

€ 1.607

€ 0.512 € 0.212

€ 0.444

€ 0.292

€ 1.460

Estonia

€ 0.512 € 0.098

€ 0.423

€ 0.207

€ 1.239

€ 0.512 € 0.173

€ 0.393

€ 0.216

€ 1.293 € 1.521

Finland

€ 0.512 € 0.131

€ 0.650

€ 0.310

€ 1.603

€ 0.512 € 0.245

€ 0.470

€ 0.294

France

€ 0.512 € 0.261

€ 0.607

€ 0.270

€ 1.650

€ 0.512 € 0.308

€ 0.428

€ 0.245

€ 1.493

Germany

€ 0.512 € 0.159

€ 0.654

€ 0.252

€ 1.577

€ 0.512 € 0.239

€ 0.470

€ 0.232

€ 1.453

Greece

€ 0.512 € 0.185

€ 0.670

€ 0.314

€ 1.681

€ 0.512 € 0.223

€ 0.412

€ 0.264

€ 1.411

Hungary

€ 0.512 € 0.161

€ 0.419

€ 0.295

€ 1.387

€ 0.512 € 0.223

€ 0.386

€ 0.303

€ 1.424

Ireland

€ 0.512 € 0.193

€ 0.588

€ 0.297

€ 1.590

€ 0.512 € 0.254

€ 0.479

€ 0.286

€ 1.531

Italy

€ 0.512 € 0.232

€ 0.704

€ 0.304

€ 1.752

€ 0.512 € 0.298

€ 0.593

€ 0.295

€ 1.697

Latvia

€ 0.512 € 0.170

€ 0.408

€ 0.229

€ 1.319

€ 0.512 € 0.250

€ 0.330

€ 0.229

€ 1.321

Lithuania

€ 0.512 € 0.178

€ 0.434

€ 0.236

€ 1.360

€ 0.512 € 0.260

€ 0.302

€ 0.225

€ 1.299

Luxembourg

€ 0.512 € 0.171

€ 0.462

€ 0.172

€ 1.317

€ 0.512 € 0.217

€ 0.330

€ 0.159

€ 1.218

Malta

€ 0.512 € 0.290

€ 0.469

€ 0.229

€ 1.500

€ 0.512 € 0.276

€ 0.382

€ 0.211

€ 1.380 € 1.491

Netherlands

€ 0.512 € 0.231

€ 0.730

€ 0.309

€ 1.782

€ 0.512 € 0.289

€ 0.431

€ 0.259

Poland

€ 0.512 € 0.203

€ 0.380

€ 0.252

€ 1.347

€ 0.512 € 0.267

€ 0.330

€ 0.255

€ 1.364

Portugal

€ 0.512 € 0.326

€ 0.584

€ 0.327

€ 1.749

€ 0.512 € 0.333

€ 0.366

€ 0.278

€ 1.489

Romania

€ 0.512 € 0.153

€ 0.360

€ 0.246

€ 1.271

€ 0.512 € 0.228

€ 0.316

€ 0.253

€ 1.309

Slovakia

€ 0.512 € 0.227

€ 0.515

€ 0.251

€ 1.504

€ 0.512 € 0.295

€ 0.386

€ 0.239

€ 1.431 € 1.385

Slovenia

€ 0.512 € 0.235

€ 0.491

€ 0.248

€ 1.486

€ 0.512 € 0.281

€ 0.361

€ 0.231

Spain

€ 0.512 € 0.197

€ 0.425

€ 0.238

€ 1.372

€ 0.512 € 0.267

€ 0.331

€ 0.233

€ 1.343

Sweden

€ 0.512 € 0.185

€ 0.620

€ 0.329

€ 1.646

€ 0.512 € 0.248

€ 0.554

€ 0.328

€ 1.642

United Kingdom

€ 0.512 € 0.167

€ 0.674

€ 0.271

€ 1.624

€ 0.512 € 0.242

€ 0.674

€ 0.286

€ 1.714

oman a

.

oman a

.

CMYK

18

publicity

HEADLINE NEWS & ANALYSIS

FINANCIAL

20 october, 2014 | FINCHANNEL.COM

Advertiser: KSB Bank. Contact FINANCIAL Ad Dep at marketing@finchannel.com

CMYK

FINANCIAL HEADLINE NEWS & ANALYSIS

19

health & beauty

FINCHANNEL.COM | 20 october, 2014

Market Twilight Continued from p. 2

handicapped. In pure capitalism (i.e. without government, as envisioned by David Friedman) only handicapped and old people would have a hard time, as their well-being would depend solely on the altruism of others.

For those who have to offer something in a market, the competition is typically multi-dimensional and therefore not to harsh. Humans can engage in “product differentiation”: as a university instructor, I do not compete with the taxi driver who brings me to my office, as I am not offering taxi services and he is not teaching students. And if there are too many people competing with me in the market for university instructors, I may consider to offer something else, e.g. become a journalist. The taxi driver, on the other hand, may also react to competitive pressure. He can upgrade his qualification and get a driving license also for trucks, he can learn English and become a tourist guide, or he can just offer his manpower in one of the many construction projects going on in the country.

So, even though capitalism is based on the principle of competition, everyone is just competing with a relatively small group of people, and the actual competitive pressure is rather cozy.

Even nicer is the fact that one can do a lot to decrease competitive pressure. One possibility is to accumulate human capital – the higher one’s qualification, the less

competition one has to face.

While I could become a taxi driver (if I would have a driving license), most taxi drivers would have to upgrade their human capital for being capable of teaching students. So, my qualification reduces the competition.

To sum up, the competitiveness of most people is determined by skills, resourcefulness, and diligence, and the market rewards talent and efforts. A just and justifiable system, and the libertarians seem to have got it right!

THE END OF LABOR In contrast, consider a situation in which 90% of the population were severely handicapped or very old.

All of these people would have nothing to offer to others, and the market outcome would be unattractive from a moral point of view. The 10% of the population who were competitive would arguably live reasonably well, but the remainder would starve.

In their 2011 book “Race against the Machine”, economists Erik Brynjolfsson and Andrew McAfee argue that we are now at a point where “technological unemployment” becomes a reality. The idea that technical progress could cause net unemployment is very old (at least 250 years) but always turned out to be wrong. Whenever machines made a profession obsolete, new demand was created elsewhere to absorb the supply of human labor.

Humans could always deal relatively well with the competition of other humans. In future, however, their main competitors will be machines.

Brynjolfsson and McAfee predict that many humans will lose all of their competitiveness.

According to Moore’s Law, computing power available in a given amount of space doubles approximately every 2 years. This exponential growth could be observed since 1965. Brynjolfsson and McAfee argue that with exponential growth of computing power, in future there will be little left that machines cannot do. There are plenty of examples. A few years ago, it was considered impossible that computers would be able to independently drive cars.

Now, companies like Google let a car drive without human intervention for thousands of kilometers under normal traffic conditions. Experts assume that in the 2020s driverless vehicles will gradually replace cars driven by humans. Arguably, in 20 years from now taxi driving will be no option anymore to make a living.

What impressed me most about my new smartphone is the speech recognition. I can speak quickly and fluently and the phone transforms my words into written language, almost without mistake. A bit more of that, and we do not need secretaries anymore.

Some months ago, a computer program passed the Touring Test, i.e. it was communicating in a way that was indistinguishable from human communication. A bit

more of that, and we do not need shop sellers, consultants, and medical doctors anymore. With enough computing power, there is almost no kind of labor that is safe from being replaced by machine.

Brynjolfsson and McAfee revive the old argument (going back to Ricardo) that there is nothing in a market which prevents wages to fall below subsistence level, i.e. the level needed for a worker to sustain his and his family’s living.

An even stronger point, however, is that machines are not only replacing human labor, but usually offer something which is better.

The self-driving cars may soon drive better than human drivers, the electronic secretaries may make less mistakes, and the computer doctor may make the right diagnosis more often than their human counterparts. Today, horses are not only obsolete because their labor value is below what is needed for their subsistence (as argued

by Brynjolfsson and McAfee, using this example), but also because steam engines and combustion motors are much more versatilely employable. Horses were used to pull ships, walking on paths next to channels. Today, the strongest ship engines have more than 100,000 horsepower, but it is impossible to let 100,000 living horses pull a ship. Even if the cost of living horses were close to 0, the demand for horses would be much lower than it was 150 years ago.

If now, in an exponential

process, more and more humans have nothing to offer anymore – regardless of their talents, resourcefulness, and diligence –, then markets will not produce outcomes anymore that are morally acceptable. The basis of the libertarian view on markets is shaken!

WHAT IS THE WAY OUT? In the 20th century, there was a huge debate between socialist economists and the so-called Austrian School about the question which system (capitalism or socialism) would finally prevail. In the debate evolving around the so-called Calculation Problem, Oskar Lange, a Polish socialist economist, claimed that socialism could never perform worse than capitalism, because a planned economy could simply emulate a market and yield the same results. Hence, a socialist economy would be at least as good as a capitalist one, but maybe better. His Austrian opponents (Mises, von Hayek and others) proved in response to Lange that there was simply not enough computing power to emulate a market economy. What the price system does in a decentralized and heuristic way could not be implemented as a plan.

One of the major problems why socialism failed was the lack of computing power.

But the problem of future markets is the abundance of computing power. Isn’t this a striking coincidence?

The economic planning of the Soviet Union was extremely crude. The Gosplan authority set up 5-year plans which were usually outdated from the very beginning. A modern version would be different. It would be adjusted in real time. Whenever somebody would buy a coffee, that would be reported online to the central computer. The production plan would be adjusted instantaneously.

Stocks would be very slim (as it is common already in today’s production), and many things would be produced on-demand. If there was an unforeseen event, e.g. an accident in a production plant, the plan would be adjusted immediately.

Even if there would be many problems with such a system, when markets become dysfunctional it might be considered the lesser evil.

As democracy does not depend on free markets (see the first part of the article), such a system could possibly be implemented in a democratic way.

My guess is that Marx’s vision of the future will turn out to be more accurate than Fukuyama’s.

CMYK

20

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21

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«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

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Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Photo exhibition «Georgia on My Mind» by Malkhaz Datikashvili.

Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 24 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

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1.3.6

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Dubai

2.5.6.7

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08:55; 10:55

4L301

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14:30;18:30

QR 254/252

Frankfurt

2.6

15:50

18:10

A9 621

Istanbul

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Istanbul

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05:45; 09:25;12:50 TK 1387/1383 06:00; 06:50

PC 463/451

Istanbul

X7

05:45

07:10

KK 381

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06:50,16:40,19:20

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Kharkov

7

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12:40

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05:00

07:15

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Pub Nali 4/1 Kiacheli St. Tel: 243 04 20 21:00-00:30 - Nali Band SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band «Wheels», DJ Datuna City Time Leonidze/Machabeli Str. 1/6; Tel: 292 02 12 20:00-24:00 - Live Band Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Maia Kankava Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Goblins» (Covers)

2

Cinema

«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

Theatre Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 O-i, that Belated Love International Festival of Arts «Gift» Dramatic School of Arts (Moscow) Director: Dimitri Krimov Cast: Maria Smolnikova, Evgeny Startsev, Alina Khajevanova, Andrey Mikhalkov, Veronika Timofeeva, Alexander Kuznetsov, Kontantin Mukhanov Duration: 110 minutes Date: October 21 Time: 20:00 Price: 20, 25, 30, 40 GEL Marjanishvili Theatre (New Stage) 5 Marjanishvili Str. Tel: 2 955-966 Meet You in Paradise Director: Sandro Eloshvili Cast: Zurab Berikashvili, Nino Gachechiladze, Guram Jashi, David Khurtsilava, Nodar Doghonadze Duration: 90 minutes Date: October 21 Time: 20:00 Price: 14 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 Jeans Generation Director: Davit Doiashvili Cast: Marina Janashia, Nana Darchiashvili, Goga Chkheidze, Dima Merabishvili, Merab Kolbaia, Lela Metreveli, Jaba Kiladze, Mariam Nadiradze, Apolon Kublashvili, Sandro Margalitashvili Duration: 165 minutes Date: October 21 Time: 19:00 Price: 6, 12, 14 GEL Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 The Miserable Director: Mikheil Charkviani Cast: Gaga Shishinashvili, Kato Kalatozishvili, Magda Lebanidze, Iako Chilaia

Duration: 80 minutes Date: October 21 Time: 20:00 Price: 10, 15 GEL Georgian State Pantomime Theatre 37 Rustaveli Ave. Tel: 299-63-14 The Dream and the Reality Director: Amiran Shalikashvili Duration: 60 minutes Date: October 21 Time: 19:00 Price: 7 GEL

4

Gallery

Andrey Balanchivadze International trust invites you at the opening of an exhibition «Balanchivadzes».

Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Photo exhibition «Georgia on My Mind» by Malkhaz Datikashvili.

Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 24 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 till - October 30

OCTOBER 22, 2013

1

Clubs, Pubs…

Pub Nali 4/1 Kiacheli St. Tel: 243 04 20 21:00-00:30 - Band Zarebi SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band «Wheels», DJ Datuna City Time Leonidze/Machabeli Str. 1/6; Tel: 292 02 12 20:00-24:00 - Live Band MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Enjoy a unique ambiance of 60s-70s hits and improvisations by David Gabidzashvili and David Barnabishvili. Great mood is guaranteed!

Spend evening at the warmest pub in the city!

Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Live Band Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «The Jumping General»

2

Cinema

«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

Theatre Marjanishvili Theatre (New Stage) 5 Marjanishvili Str. Tel: 2 955-966 Tartuffe Director: Levan Tsuladze Cast: Nika Kuchava, Zviad Skhirtladze. Manana Kozakova, Barbare Dvalishvili, Tamar Bukhnikashvili, Zaza Iakashvili, Beso Baratashvili Duration: 140 minutes Date: October 22 Time: 20:00 Price: 14 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 So what if wet lilac is wet Director: Gogi Todadze Cast: Giorgi Bakhutashvili, Otar Lortkipanidze, Nikoloz Paikridze, Medea Jibladze, Tamar Tavkhelidze, Tamar Aznarashvili, Mariam Karkashadze, David Kolelishvili Date: October 22 Time: 19:00 Price: 6, 9, 11 GEL

4

Gallery

Andrey Balanchivadze International trust invites you at the opening of an exhibition «Balanchivadzes».

Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Photo exhibition «Georgia on My Mind» by Malkhaz Datikashvili.

Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 24 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 till - October 30

OCTOBER 23, 2013

1

Clubs, Pubs…

Pub Nali 4/1 Kiacheli St. Tel: 243 04 20 21:00-00:30 - Nali Band SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Band «Band’a’roll», DJ Datuna City Time Leonidze/Machabeli Str. 1/6; Tel: 292 02 12 20:00-24:00 - Live Band MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Enjoy a unique ambiance of 60s-70s hits and improvisations by David Gabidzashvili and David Barnabishvili. Great mood is guaranteed!

Spend evening at the warmest pub in the city!

Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Everyday from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs. Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Guliko Chanturia Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Good Company»

2

Cinema

«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

5

Concert

Tbilisi Concert Hall 1, Meliqishvilii Str. Tel: 299-05-99 Tbilisi Jazz Festival - 2014 20:00 - Al Di Meola «Beatles & More»; Michel Camilo Trio (Ticket Price: Balcony - 20, 30 GEL; Parterre: 70, 90 GEL)

Theatre Marjanishvili Theatre (New Stage) 5 Marjanishvili Str. Tel: 2 955-966 Drunk Cherry Autor and Director: Levan Tsuladze, Alexander Eloshvili Cast: Eka Chkheidze, Malkhaz Abuladze, Manana Kozakova, Barbare Dvalishvili, Dato Khurtsilava, Keti Tskhakaia, Onise Oniani Date: October 23 Time: 20:00 Price: 14 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 Flaming Lover Director: Tiko Katamashvili Cast: Salome Chulikhadze, Maraiam Nadiradze, Tiko Kordzadze Date: October 23 Time: 19:00 Price: 6, 9, 11 GEL Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 Dreams About Georgia International Festival of Arts «Gift» Manana Menabde, Nika Nikvashvili Date: October 23 Hall: Big Stage Time: 20:00 Price: 20 GEL V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 The Picture of Dorian Gray Director: Nini Chakvetadze Cast: Erekle Getsadze, Jeji Skhirtladze, Shako Mirianashvili, Eka Demetradze, Gigi Karseladze Duration: 90 minutes Date: October 23 Time: 19:00 Price: 8, 10 GEL Iliauni Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 Witted Woe! Director: Otar Egadze Cast: Vasiko Odishvili, Dato Gigolashvili, Kakha Gogidze, Nika Giorgadze, Soso Mchedlishvili, Maka Dzagania, Levan Mamniashvili Duration: 90 minutes Date: October 23 Time: 20:00 Price: 5 GEL

4

Gallery

Andrey Balanchivadze International trust invites you at the opening of an exhibition «Balanchivadzes».

Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Photo exhibition «Georgia on My Mind» by Malkhaz Datikashvili.

Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 24 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 till - October 30

OCTOBER 24, 2013

1

Clubs, Pubs…

Pub Nali 4/1 Kiacheli St. Tel: 243 04 20 21:00-00:30 - Nali Band SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Agora Live Band, DJ Datuna City Time Leonidze/Machabeli Str. 1/6; Tel: 292 02 12 20:00-24:00 - Live Band & Maka Durglishvili; DJ Paata MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Enjoy a unique ambiance of 60s-70s hits and improvisations by David Gabidzashvili and David Barnabishvili. Great mood is guaranteed!

Spend evening at the warmest pub in the city!

Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Every day from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs.

Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Maia Baratashvili Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Rustavi 2» (Covers)

2

Cinema

«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

5

Concert

Tbilisi Event Hall 1, Meliqishvilii Str. Tel: 299-00-99 Tbilisi Jazz Festival - 2014 20:00 - Anat Cohen Quartet; George Mel Quartet (Ticket Price: 50 GEL)

Theatre Marjanishvili Theatre (New Stage) 5 Marjanishvili Str. Tel: 2 955-966 Woman with Dog Director: Levan Tsuladze Cast: Nika Tavadze, Nanka Kalatozishvili, Nata Kakhidze, Beso Baratashvili Duration: 120 minutes Date: October 24 Time: 20:00 Price: 14 GEL Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 The Police Director: Zurab Getsadze Cast: Malkhaz Abuladze, Giorgi Kipshidze, Vano Tarkhnishvilli, Nika Tserediani, Temo Natroshvili Duration: 90 minutes Date: October 24 Hall: Small Stage Time: 20:00 Price: 7 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21

A Clockwork Orange Director: Avto Varsimashvili Cast: Jaba Kiladze, Apolon Kublashvili, Slava Natenadze, Sandro Margalitashvili, Misha Arjevanidze, Ani Aladashvili, Masho Melkadze, Lasha Gurgenidze +16 year Duration: 135 minutes Date: October 24 Time: 19:00 Price: 6, 13, 15 GEL V. Abashidze State Music and Drama Theatre 182 Agmashenebeli Ave. Tel: 234-80-90 The Picture of Dorian Gray Director: Nini Chakvetadze Cast: Erekle Getsadze, Jeji Skhirtladze, Shako Mirianashvili, Eka Demetradze, Gigi Karseladze Duration: 90 minutes Date: October 24 Time: 19:00 Price: 8, 10 GEL Royal District Theatre 10 Abesadze Str. Tel: 299-61-71 Pain is Youth Director: Data Tavadze Cast: Tornike Gogrichiani, Paata Inauri, Natuka Kakhidze, Magda Lebanidze, Salome Maisashvili, Keta Shatirishvili Duration: 120 minutes Date: October 24 Time: 20:00 Price: 10, 15 GEL Iliauni Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 Witted Woe! Director: Otar Egadze Cast: Vasiko Odishvili, Dato Gigolashvili, Kakha Gogidze, Nika Giorgadze, Soso Mchedlishvili, Maka Dzagania, Levan Mamniashvili Duration: 90 minutes Date: October 24 Time: 20:00 Price: 7 GEL Iron Theatre 1, Budapest Str. Mob: 577 38 99 74 Quite a Different Opera Director - David Andguladze Cast: Zaza Tagoshvili, Gogita Trapaidze, Kakha Nozadze, Nodar Simsive, Mariam Amashukeli, Tornike Chekurishvili, Anna Kvinikadze, Elene Loria, Luka Meskhia Duration: 80 minutes Date: October 24 Time: 20:00 Price: 3, 5, 7, 10 GEL Gabriadze Theatre 13, Shavteli Str. Tel: 790 98-65-91, 298-65-90 Ramona Marionette Theatre Author and Director: Rezo Gabriadze +10 years Date: October 24 Time: 20:00 Price: 10, 15, 20 GEL Georgian State Pantomime Theatre 37 Rustaveli Ave. Tel: 299-63-14 Host and Guest Director: Amiran Shalikashvili Duration: 50 minutes Date: October 24 Time: 19:00 Price: 10 GEL

4

Gallery

Andrey Balanchivadze International trust invites you at the opening of an exhibition «Balanchivadzes».

Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Photo exhibition «Georgia on My Mind» by Malkhaz Datikashvili.

Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 24 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 till - October 30

OCTOBER 25, 2013

1

Clubs, Pubs…

Pub Nali 4/1 Kiacheli St. Tel: 243 04 20 21:00-00:30 - Nali Zarebi SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Veriko Turashvili & Live Band, DJ Datuna City Time Leonidze/Machabeli Str. 1/6; Tel: 292 02 12 20:00-24:00 - Live Band & Nata Kurdovanidze; DJ Vako MacLaren’s Irish Pub 5 Rkinis Rigi (Chardin) Mob: 599 57 85 49 21:30 - Enjoy a unique ambiance of 60s-70s hits and improvisations by David Gabidzashvili and David Barnabishvili. Great mood is guaranteed!

Spend evening at the warmest pub in the city!

Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Every day from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs.

Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian Dances Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Keti Paresashvili Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Rustavi 2» (Covers)

2

4

Gallery

Andrey Balanchivadze International trust invites you at the opening of an exhibition «Balanchivadzes».

Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 till - October 30

OCTOBER 26, 2013

1

Clubs, Pubs…

Pub Nali 4/1 Kiacheli St. Tel: 243 04 20 21:00-00:30 - Nali Band SkyyBar 22 Metekhi Str. Mob: 592 32-32-32 21:00 - Agora Live Band, DJ Datuna City Time Leonidze/Machabeli Str. 1/6; Tel: 292 02 12 20:00-24:00 - Live Band & Maka Durglishvili; Karaoke, DJ Vako Restaurant «Bermukha» Agmashenebeli lane 13th km. Tel: 259 69 69; Mob: 598 59 69 69 Every day from 17:00 restaurant Bermukha is awaiting you with renovated hall and colorful show program. Music program starts from 19:00: Dato Archvadze’s quartet «Taoba»: Georgian folk and city songs.

Estrada singers: Giorgi Tsiklauri, Nina Okroashvili, Giorgi Kakutia Restaurant «Dzveli Sakhli» 3, Sanapiro Str. Tel: 2 365-365 20:00-23:00 - Georgian songs with live performance Café «Kala» 8/10 Erekle II Str. Mob: 599 79-97-37 21:00 - Live Band Pub «Dublin» 8 Akhvlediani Str, Tel: 298-44-67 21:00-24:00 - Band «Rustavi 2» (Covers)

2

Cinema

«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

5

Concert

Tbilisi Concert Hall 1, Meliqishvilii Str. Tel: 299-05-99 Tbilisi Jazz Festival - 2014 20:00 - Andy Sheppard Quartet; Roy Ayers (Ticket Price: Balcony - 20, 30 GEL; Parterre: 60, 100 GEL)

Theatre Cinema

«Rustaveli» Cinema 5 Rustaveli Ave. Tel: 293-22-53, 2 555-000 «Dracula Untold» 3D; «Gone Girl»; «The Maze Runner»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; «Corn Island»; «Lucy» (Ticket Price: 7,50 - 12,50 GEL) «Amirani» Cinema 36 Kostava Str. Tel: 299-99-55 «Dracula Untold» 3D; «Gone Girl»; «Annabelle»; «The Boxtrolls» 3D; «Magic in the Moonlight»; (Ticket Price: 7,50 - 12,50 GEL)

5

13, Shavteli Str. Tel: 790 98-65-91, 298-65-90 The Battle of Stalingrad Marionette Theatre Author and Director: Rezo Gabriadze In Russian +10 years Date: October 25 Time: 20:00 Price: 10, 15, 20 GEL

Concert

Tbilisi Event Hall 1, Meliqishvilii Str. Tel: 299-00-99 Tbilisi Jazz Festival - 2014 20:00 - David Fiuczynski’s Planet MicroJam (Ticket Price: 40 GEL)

Theatre 17, Rustaveli Ave. Tel: 272-68-68 I Thirst the Wind Direct Director: Murman Jinoria Cast: Murman Jinoria Duration: 75 minutes Date: October 25 Hall: Experimental Stage Time: 19:00 Price: 6, 8 GEL Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 As You Like It Director: Levan Tsuladze Cast: Manana Kozakova, Nato Kakhidze, Ketevan Shatirishvili, Ketevan Tskhakaia, Nata Murvanidze, Tamar Bukhnikashvili, Nikoloz Tavadze, Malkhaz Abuladze, Beso Baratashvili, Davit Khurtsilava, Nika Kuchava, Zurab Berikashvili, Roland Okropiridze, Onise Oniani Duration: 120 minutes Date: October 25 Hall: Big Stage Time: 20:00 Price: 6 - 16 GEL Marjanishvili Theatre (New Stage) 5 Marjanishvili Str. Tel: 2 955-966 Doubt Director: Guram Vashakidze Cast: Nani Chikvinidze, Zviad Skhirtladze, Nino Tsuladze, Nino Dumbadze Date: October 25 Time: 20:00 Price: 14 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 Bedtime Waltz Director: Avtandil Varsimashvili Cast: Keta Lortkipanidze, Maia Doborjginidze, Mariam Jologua, Tamuna Nikoladze, Tiko Kordzadze, Salome Tchulukhadze Duration: 150 minutes Date: October 25 Time: 19:00 Price: 6, 13, 15 GEL Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 Waiting for Godot Director: Giorgi Apkhazava Cast: Giorgi Nakashidze, Temo Natroshvili, Zurab Getsadze, Keti Chachua, Soso Ioseliani Duration: 120 minutes Date: October 25 Time: 20:00 Price: 10 GEL Iliauni Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 Witted Woe! Director: Otar Egadze Cast: Vasiko Odishvili, Dato Gigolashvili, Kakha Gogidze, Nika Giorgadze, Soso Mchedlishvili, Maka Dzagania, Levan Mamniashvili Duration: 90 minutes Date: October 25 Time: 20:00 Price: 7 GEL Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06 The Elder Son - Premiere Directed by Giorgi (Gogi) Margvelashvili Cast: Apolon Kublashvili, Lasha Gurgenidze, Merabishvili, Valeri Kharutchenko, Aleksandr Lubinec, Ivane Kurasbediani, Mariam Kitia, Sophie Lomjaria, Ina Vorobiova, Medea Mumladze Date: October 25 Time: 18:00 Price: 5 GEL Akhmeteli Theatre 8 Vekua Str. Tel: 262-54-37, 262-59-73, 262-61-97 Rapunzel - Premiere Director: Lasha Gogniashvili Cast: Sophia Sebiskveradze, Giorgi Migriauli, Giorgi Chumburidze, Gvantsa Kandelaki, Tamta Patashuri, Jaba Japaridze Duration: 60 minutes Date: October 25 Time: 14:00 Price: 7, 10 GEL Gabriadze Theatre

Rustaveli Theatre 17, Rustaveli Ave. Tel: 272-68-68 Old Jokers Director: Gocha Kapanadze Cast: Kakhi Kavsadze, Darejan Kharshiladze, Zaza Lebanidze, Jemal Ghaghanidze, Manana Gamcemlidze, Marina Janashia Duration: 140 minutes Date: October 26 Hall: Small Stage Time: 19:00 Price: 10, 15, 20 GEL Marjanishvili Theatre 8 Marjanishvili Str. Tel: 2 955-966 Wet Lilac - Premiere Director: Gizo Jordania Cast: Gia Burjanadze, Tamuna Bukhnikashvili, Keti Chkheidze, Kato Kalatozishvili, Paata Inauri, Tamar Skhirtladze, Davit Dvalishvili, Aleko Makharoblishvili, Teko Chubinidze, Lika Kobuladze, Eka Makharoblishvili Date: October 26 Hall: Big Stage Time: 20:00 Price: 4 - 10.50 GEL Marjanishvili Theatre (New Stage) 5 Marjanishvili Str. Tel: 2 955-966 Recipe of Inspiration Director: Nino Akhvlediani Cast: Ketevan Tskhakaia, Manana Kozakova, Davit Khurtsilava Duration: 95 minutes Date: October 26 Time: 20:00 Price: 14 GEL Liberty Theatre 2 Rustaveli Ave. Tel: 298-58-21 Richard III Director: Avto Varsimashvili Cast: Sandro Margalitashvili, Jaba Kiladze, Giorgi Jikia, Tamuna Nikoladze, Mariam Jologua, Tiko Kordzadze, Apolon Kublashvili, Goga Barbakadze Date: October 26 Time: 19:00 Price: 6, 13, 15 GEL Tumanishvili Film Actors Theatre 164 Agmashenebeli Ave. Tel: 234-28-99 The Icarus Director: Nugzar Bagrationi-Gruzinski Cast: Anri Bibineishvili, Rezo Tavartkiladze, Ana Matuashvili, Nato Shengelaia, Nika Tserediani, Beka Jumutia, Ana-Maria Gurgenishvili Duration: 80 minutes Date: October 26 Time: 20:00 Price: 7 GEL Iliauni Theatre 32, I. Chavchavadze Ave. Tel: 229-47-15 The Cheaters Director: Rusudan Kobiashvili Cast: Lasha Ambidze, George Makharadze, George Chumburidze, David Davituliani, Temur Kvaratskhelia, Annie Talakvadze, Salome Mikadze, Marekh Kvizhinadze Duration: 130 minutes Date: October 26 Time: 20:00 Price: 10 GEL Griboedov Theatre 2 Rustaveli Ave. Tel: 293-11-06 Emelia’s Happiness Director: Gogi Todadze Cast: Dmitri Sporishev, Sofo Lomjaria, Mikhail Ambrosov, Mikhail Arjevanidze, Ludmila ArtyomovaMghebrishvili, Denis Dashkov Duration: 70 minutes Date: October 26 Time: 12:00 Price: 5 GEL Iron Theatre 1, Budapest Str. Mob: 577 38 99 74 Farm Director - David Andguladze Cast: Zaza Tagoshvili, Gogita Trapaidze, Kakha Nozadze, Nodar Simsive, Mariam Amashukeli, Tornike Chekurishvili Duration: 75 minutes Date: October 26 Time: 20:00 Price: 3, 5, 7, 10 GEL Gabriadze Theatre 13, Shavteli Str. Tel: 790 98-65-91, 298-65-90 Autumn of my Springtime Marionette Theatre Author and Director: Rezo Gabriadze +10 years Date: October 26 Time: 20:00 Price: 10, 15, 20 GEL

4

Gallery

Andrey Balanchivadze International trust invites you at the opening of an exhibition «Balanchivadzes».

Simon Janashia State Museum 3, Rustaveli Ave. Tel: 299-80-22 Museum is working every day except Monday. From 10:00 till 18:00 till - November 4 The exhibition «Regards Croisés» by Levan Chogoshvili and Darejan Berekashvili.

D. Shevardnadze National Gallery 11, Rustaveli Ave. Tel: 299-80-22 Gallery’s working hours: Saturday-Sunday 10:00-18:00 till - October 28 Misha Iashvili’s personal Exhibition Sh. Amiranashvili Art Museum 1, Gudiashvili Str. Tel: 299-71-76 Museum is working every day except Monday. From 11:00 till 17:00 till - October 30 Exhibition of Lado Gudiashvili Lado Gudiashvili Exhibition Hall 11 L. Gudiashvili Str. Tel: 293 23 05 Exhibition Hall is working every day, 11:00 18:30 except Mondays and official holidays.

Entry: Adults - 5 GEL / People from 6-18 - 3 GEL / Students and pensioners (with ID) - 3 GEL / Admission is free for orphan groups (with proof of status) and for children under 6 till - October 30

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

CMYK

22

HEADLINE NEWS & ANALYSIS

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FINANCIAL

20 october, 2014 | FINCHANNEL.COM

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FINANCIAL HEADLINE NEWS & ANALYSIS FINCHANNEL.COM | 20 october, 2014

23

SANCHO

LITERATURULI CAFÉ

QUEUE

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

4, Besiki Str. Tel: 2 519 966

23, Akhvlediani Str. Tel: 298 25 98

Hangar Bar

dining

| places we strongly reccommend to visit |

TSISKVILI

PREGO 10, Paliashvili Str. Tel: 225 22 58

#1 Freedom squ.

Tel: 2 240 241

Red Café Bistro & Cafe

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

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

Beliashvili Str. Tel: 253 07 97

Belle Ville

BUFFALO BILL

French - European barrestaurant Pleasant and cozy atmosphere High quality service, live music every day 26, l.Kiacheli Str. Tel: 293 65 53

Espresso Bar “RESPUBLIKA”

16, Marjanishvili Str. Tel: 555 003151 www.facebook.com/RespublikaEspressoBar

41, Gamsakhurdia Str. Tel: 237 96 88

Prospero’s Books

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

13b, Tarkhnishvili Str. Tel: 223 24 30 contact@bookcorner.ge

VERA STEAKHOUSE

37, Kostava Str. Tel: 298 37 67 16, Akhvlediani Str. Tel: 293 60 52

PICASSO

4, Vashlovani Str. Tel: 298 90 86

24 24/

SIANG-GAN

Book Corner

Better seen than heard

DISCOVERY

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

2, MarjaniSvili Str. Tel: 2 999 723

40, Chavchavadze Ave. Tel: 229 42 30

DUBLIN IRISH PUB

Better seen than heard

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

8, Akhvlediani Str. Tel: 298 44 67

Tel.: 599 21 53 83

Hotel Divan Suites Batumi No 8/15 Zhordania/Z. Gamsakhurdia Str. 6000 Batumi, Georgia Tel:+ 995 422 25 55 22 Fax:+ 995 422 22 86 85 info.batumi@divan.com.tr www.divan.com.tr

ENGLISH TEE HOUSE

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

CAFE CINEMA

Addr: 3 Vekua Street.

(Trade Center GTC) Tel.: 2 93 61 38

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

BUSINESSTRAVELCOM

HOTEL AND AIRTICKET BOOKING: 2 999 662 | SKY.GE

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HEADLINE NEWS & ANALYSIS

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20 october, 2014 | FINCHANNEL.COM

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