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1. ARRANGING NEW HEAD OFFICE COST 13.5M EUR TO “SAKARTVELOS BANKI”
   (Daily News: November 16, 2011)

   Sakartvelos Banki (Bank of Georgia) paid 13.5 million EUR in repair works and equipment of new head office, the bank told Sarke.  The new office, which is located in Saburtalo district of Tbilisi (Gagarin Str. 29a), was officially opened yesterday.

   To remind, Sakartvelos Banki acquired this building (former office of Georgian Motor Road Department) for 13.3 million lari on auction, held in 2007.  The building, constructed in 1975, has status of architectural monument.

2. “REPUBLICAN PARTY” DEMANDS RECALL OF DRAFT BUDGET-2012 OF TBILISI
   (Daily News: November 16, 2011)

   Oppositional Republican Party demands recall of draft budget of Tbilisi for 2012 and “presenting adequate, written in paragraphs and programs draft budget”.

   “So many hidden and vague articles have not been included in the city budget quite a long time”, member of Tbilisi Sakrebulo (city council) from this party Tinatin Khidasheli has declared at the briefing today.

3. “TBILISI LOGISTICS CENTER” TO BE HANDED TO PARTNERSHIP FUND
   (Daily News: November 16, 2011)

   The Georgian government decided to subordinate LLC Tbilisi Logistics Center to Partnership Fund.  The LLC, which is subsidiary of Georgian Agriculture Corporation, will be withdrawn from the Corporation’s capital and included in the Fund’s capital.

   As Tbilisi Logistics Center declared to Sarke, the LLC was founded in May.  Office of the Center will be built in village Karajalari of Gardabani district (Kvemo Kartli region), the LLC said.

4. GEORGIA’S ECONOMIC POTENTIAL TO BE DISCUSSED AT “ECONOMIST CONFERENCE”
   (Daily News: November 16, 2011)

   According to program director of Economist Conference Dougal Thomson, Tbilisi summit, which should held on November 17, aims presentation of Georgia’s market economic potential and clearing up investments’ prospects. Georgia hosts such event, organized by The Economist, for the first time.

5. Bankebi da Finansebi: “REAL INVESTMENT EXPECTATIONS”
   (Economic Press Monitor: November 16, 2011)

   As the newspaper notes, interest of Turkish investors towards Georgian economy increases despite the global crisis. Tourism, agriculture, shipbuilding, textile manufacturing – this is a short list of those directions, which attract Turkish businessmen in Georgia, the newspaper notes.

6. Bankebi da Finansebi: “RUSSIAN “TELASI” WORKS WITH 150% PROFIT MARGIN”
   (Economic Press Monitor: November 16, 2011)

   As the newspaper notes, Georgia’s demand for electricity is completely satisfied with own generation.

   Generation’s share in tariff makes up 26%, for instance, cost of electricity, producing by the country’s largest power station, EngurHES, is only 2.7 tetri (per 1 kWh).

7. Bankebi da Finansebi: “ELECTION TAX – NEW UTILITY BILL”
   (Economic Press Monitor: November 16, 2011)

   As the article notes, Tbilisi City Council’s decision to unify fee for refuse collection with electricity bill “cannot be explained logically”. In its turn, Tbilisi City Hall insists that new system of utility payment is far more fair than old one.

8. “VTB BANK” OFFERS “AUTOTRANSIT” SERVICE
   (Daily News: November 15, 2011)

   VTB Bank Armenia jointly with VTB Bank Georgia offers new credit product, named Autotransit. The new product provides preferences to Armenia’s residents during purchasing of cars in Georgia.

9. NEXT TENDER IS ANNOUNCED FOR STATE INSURANCE OF THE POOR
   (Daily News: November 15, 2011)

   Tbilisi City Hall announced tender for insurance of socially unprotected persons for 2012. The matter concerns 120,000 persons.

10. EU TO ALLOT 19M EUR FOR GEORGIA’S REGIONAL DEVELOPMENT STRATEGY IMPLEMENTATION
    (Daily News: November 14, 2011)

    European Union will allocate 19 million EUR to Georgia for action plan in terms of state strategy of regional development until 2017. The corresponding agreement was signed in Tbilisi today.

11. DIRECTOR OF TBILISI HEAT POWER STATION: RECENT BLACKOUTS ARE CONNECTED WITH CONNECTING CABLES, NOT STATION
    (Daily News: November 11, 2011)

    According to director of Tbilisi heat power station Rezo Gelashvili, the station is in fully operating mode and is no guilty of recent blackouts. The failures that caused recent cut-offs, happened on connecting cables, not in the station itself, he stressed.

12. “GEORGIAN AIRWAYS” STARTED PROMO ACTION ON DUBAI ROUTE
    (Daily News: November 11, 2011)

    Georgian Airways started promo action on Tbilisi-Dubai-Tbilisi flights, which will last until December 15.

    Within the action, ticket cost starts from 59 EUR, the company said, noting however, that airport tax of 155 EUR is added to it.

13. EXPERT IRAKLI KOVZANADZE: GROWTH OF INTEREST RATES FOR CREDITS IS CAUSED BY EXPECTED DECLINE OF FOREIGN BORROWING
    (Daily News: November 11, 2011)

    Professor of Tbilisi State University Irakli Kovzanadze considers that growth of interest rates for credits is caused by expected decline of funds’ attraction from international markets.

    In spite of continuation of this attraction, its volume will not be as much as it had been before, Kovzanadze told Sarke.

14. OPIC TO ALLOT $10M TO “LISI DEVELOPMENT”
    (Daily News: November 11, 2011)

    Company Lisi Development has announced that $10 million will be received from the US Overseas Private Investments Corporation (OPIC) next week.

    As executive director of Lisi Development Kakha Kolelishvili has told Sarke, the mentioned resource will be used for housing component of Lisi Lake development project.

15. Rezonansi: “TBILISI-GORI HIGHWAY – UNFINISHED PROJECT”
    (Economic Press Monitor: November 11, 2011)

    Georgian top officials have opened Tbilisi-Gori section of highway already several times, but construction, which was launched in 2006, is not finished in fact yet, the newspaper notes.

    The article also mentions that despite of the spent millions, quality of the highway is not satisfactory.

16. LLC “TBILISI CENTRAL HOSPITAL” IS OFFERED FOR SALE
    (Daily News: November 10, 2011)

    The Ministry of Economy and Sustainable Development has announced termed auction on whole stake in the state-owned LLC Tbilisi Central Hospital. Starting price is defined by 1.7 million lari.

17. “GEORGIAN MEDI” ACQUIRED GUDUSHAURI NATIONAL MEDICAL CENTER
    (Daily News: November 10, 2011)

    LLC Georgian Medi has acquired for 6.67 million lari the state-owned JSC Guduhasuri National Medical Center through the auction today.

    The JSC was estimated for 6.6 million lari.

18. “RICO EXPRESS” TO OPEN NEW BRANCH IN TBILISI
    (Daily News: November 10, 2011)

    Micro-finance organization Rico Express has declared on opening of new branch in Tbilisi (Peking Str. 5).

    As chairman of supervisory board of Rico Express, Lasha Nikolaishvili declared to Sarke, the company acquired recently the building of former branch of HSBC Bank Georgia for $1.2 million lari.

19. EBRD TO FINANCE PART OF “NOVOTEL” CONSTRUCTION
    (Daily News: November 10, 2011)

    EBRD declared intention to allot funds in order to finance partially construction of hotel Novotel in Tbilisi. The matter concerns loan of $18 million.

20. SCHEME OF TBILISI BYPASS RAILWAY PROJECT’S FUNDING IS AMENDED
    (Daily News: November 10, 2011)

    LLC Georgian Railway has reported that funding scheme for Tbilisi bypass railway project is changed. However, internal resources remain as the main source of funding, the LLC stressed.

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