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1. Rezonansi: “DECREASE OF ELECTRICITY TARIFF TO 9-10 TETRI IS REAL”
   (Economic Press Monitor: May 29, 2012)

   The newspaper reports that oppositional billionaire Bidzina Ivanishvili so far denies the information that he has acquired Tbilisi energy distributor TELASI and plans to decrease consumer tariff to 6 tetri and even to 4 tetri for socially unprotected consumers.

   Currently, there is step tariff acting in Tbilisi, which ranges within 13.48-17.7 tetri for 1 kWh.

2. BUILDINGS ON NINOSHVILI STREET IN TBILISI SOLD FOR 1.05M LARI
   (Daily News: May 28, 2012)

   Ministry of Economy and Sustainable Development has sold constructions on Ninoshvili Str. 55 in Tbilisi for 1.05 million lari. Buyer of the object is David Jangulashvili.

3. “SAKARTVELOS BANKI” STARTED ACTION FOR PURCHASERS OF “IPHONE”, “BLACKBERRY” AND “ANDROID” PHONES
   (Daily News: May 28, 2012)

   Sakartvelos Banki (Bank of Georgia) announced that in case of buying iPhone, Blackberry or Android mobile phones under installment of the bank, the customer will receive up to 3 GB of mobile Internet traffic in gift. The action is valid through July 7 and applies to partner shops of the bank.

4. COMMERCIAL BANKS PLACED 906.9M LARI IN INVESTMENT SECURITIES
   (Daily News: May 28, 2012)

   National Bank of Georgia (NBG) reported that Georgian commercial banks had invested 906.9 million lari in securities in the 1^st quarter. This volume exceeds by 13.9% showing of the same period of 2011.

5. GEORGIAN DESIGNERS AND LOCAL CLOTHING COMPANIES DISCUSSED POTENTIAL OF THE BRANCH
   (Daily News: May 28, 2012)

   First conference of Georgian designers and local clothing companies was arranged today in Tbilisi exhibition center ExpoGeorgia.

   The event was organized by USAID-funded Economic Prosperity Initiative (EPI), Tbilisi Fashion Week and Georgian National Investment Agency.

6. GCCI SIGNED COOPERATION MEMORANDUMS WITH BAHREIN, DUBAI AND ASH SHARIQAH
   (Daily News: May 28, 2012)

   Today, Tbilisi hosted the 4^th regional conference of International Commerce Chamber (ICC), in which representatives of Bahrain, Egypt, Iran, Jordan, Libya, Pakistan, Qatar, Saudi Arabia, Syria, UAE took part. The conference was attended also by French and English high-ranking executives from ICC head quarter.

7. Liberali: “NON-TRANSPARENT REHABILITATION OF OLD TBILISI”
   (Economic Press Monitor: May 28, 2012)

   The magazine publishes a material, prepared by a journalist of Studio Monitor, which is dedicated to activity of Tbilisi Development Fund.

   The article notes that in April 2011 the city government has issued a decree, which defines assignment of some real estate to the Fund.

8. “PROGRESS BANK” TO COOPERATE WITH “COMMERZBANK”
   (Daily News: May 25, 2012)

   Progress Bank announced that it has opened correspondent account in German Commerzbank.

   “In near future, we plan to deepen partnership and cooperate with German bank in terms of credit resources allocation”, Kote Sulamanidze, director general of Progress Bank declared.

9. COMMERCIAL BANKS HAVE RETAINED EARNINGS OF 511.3M LARI
   (Daily News: May 25, 2012)

   National Bank of Georgia (NBG) reported that as of March 31, retained earnings of local commercial banks amounted to 511.3 million lari. The figure is increased by 66.2% year-on-year.

10. UNEMPLOYMENT IN TBILISI DECLINED BY 0.8 PERCENT POINTS IN 2011
    (Daily News: May 25, 2012)

    According to Sakstat, unemployment rate in Tbilisi declined in 2011 by 0.8 percent points, if compared with 2010.

    The biggest decline was fixed in Shida Kartli region – 3.8 percent points.

11. 5 FOREIGN AIR COMPANIES PERMITTED FOR SUMMER FLIGHTS TO BATUMI
    (Daily News: May 25, 2012)

    According to TAV Georgia, operator company of Tbilisi and Batumi airports, the following air companies will perform direct flights in Batumi airport in summer: Russian S7 (Sibir Airlines), Iranian ATA Airlines, Turkish Pegasus, Armenian Armavia and Polish OLT Express (former YES Airways).

    In particular, S7 will resume on May 31 Moscow-Batumi flights after 3-year interval.

12. BUSINESS GROUP “VALENCIA” STILL SEEKS FOR INVESTMENTS
    (Daily News: May 24, 2012)

    Business group Valencia still tries to attract investments in terms to build mixed (residential and trade) complex in Saburtalo district of Tbilisi, but this time it makes combined efforts with Tiflis Development.

    Director general of Valencia Zurab Agladze told Sarke that these two companies hold negotiations with British group, but refrained to provide details.

13. “BAGRATIONI-1882” COMPLETED 2011 WITH LOSS ALSO
    (Daily News: May 24, 2012)

    Bagrationi-1882 (sparkle wine producer) reported loss of 744,140 lari for 2011. The loss of the company is 3.4 times declined year-on-year.

14. BANKS OWN BAD BORROWERS’ PROPERTY OF 116M LARI
    (Daily News: May 24, 2012)

    According to National Bank of Georgia (NBG), as of March 31, banks owned mortgaged movable or real property of bad borrowers exceeding 116 million lari. Compared with the same period of 2011, the figure is decreased by 5%.

15. RESEARCH OF “ACT”: “NOKIA” IS MOST POPULAR BRAND ON TBILISI MARKET OF MOBILE PHONES
    (Daily News: May 23, 2012)

    According to the research of Analysis and Consultation Team (ACT), mobile phones of Nokia are still the most popular among Tbilisi customers.

    As the research revealed, 50% of surveyed has the mobile of Finnish company.

16. “STANDARD INSURANCE GEORGIA” TOOK “GEORGIAN RAILWAY” TO COURT
    (Daily News: May 23, 2012)

    Insurance company Standard Insurance Georgia failed a suit against JSC Georgian Railway to Tbilisi city court.

    According to the report-2011 of Standard Insurance Georgia, claim to the JSC amounts to 35,000 CHF (68,855 lari in national currency equivalent).

17. “COMMERZBANK” TO LIMIT OPERATIONS IN GEORGIA WITH FUNDING OF COMMERCIAL BANKS ONLY
    (Daily News: May 23, 2012)

    Key direction of Commerzbank’s office activity in Georgia will be crediting of local commercial banks.

    As Commerzbank’s Global Head of Financial Institutions Christof Gabriel Maetze declared at official opening of the bank’s Tbilisi representation yesterday, the bank opted for its own niche, taking into consideration quite intensive competitiveness in Georgian banking sector.

18. INVESTMENTS IN WATER SUPPLY REGIONAL INFRASTRUCTURES MADE UP 71M LARI IN 2011
    (Daily News: May 23, 2012)

    National Energy and Water Supply Regulating Commission reported that investments, made in 2011 in regional water supply and sewerage infrastructure, amounted to 71 million lari.

    The Commission’s report names 24-hour permanent water supply of Bakuriani and Borjomi (resorts in Samtskhe-Javakheti region) as important achievement of the year.

19. Versia: “THE IRONY IS THAT THE STATE SPENDS 80 LARI FOR MONTHLY FEEDING OF PRISONER, WHILE FORKS OUT 24 LARI ONLY FOR THE PEOPLE, WHO ARE BELOW THE POVERTY LINE”
    (Economic Press Monitor: May 23, 2012)

    Levan Kalandadze, representative of oppositional New Rights, sees key problem of the social sphere in wrong identification of priorities by the government.

    We demand to eliminate disparities in application of rating points, required for provision of social assistance, and to set single grade, common for the whole country, Kalandadze explains.

20. MINISTRY OF REFUGEES’ ISSUES AND SETTLEMENT ARGUES WITH “IMEDI-L”
    (Daily News: May 22, 2012)

    According to the report of insurance company Imedi-L, the company received in February notification from Tbilisi City Court Civil Appeal Board regarding suit on 1.27 million lari. The matter concerns litigation with Ministry of Refugees’ Issues and Settlement regarding reimbursement, envisaged by banking guarantees.

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