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1. PROFIT OF “ISBANK GEORGIA” JUMPED IN Q2 BY 181.2% Y-O-Y
   (Daily News: September 15, 2016)

   Isbank Georgia reported net profit of 1.46 million lari as of June 30. If compared with the same period of 2015, the profit has jumped by 181.2%.

2. REGULATORY COMMISSION: “GDS” DOES NOT VIOLATE DEMANDS, SET BY BROADCASTERS’ CODE OF CONDUCT
   (Daily News: September 15, 2016)

   National Communication Commission considers that GDS (broadcasting company, belonged to son of ex-premier, billionaire Bidzina Ivanishvili) does not violate demands, established by Broadcasters’ Code of Conduct.

   The Commission made respective statement yesterday, responding to the joint statement of TI Georgia (Georgian branch of Transparency International), Georgian Young Lawyers’ Association and International Society for Fair Elections and Democracy concerning “Meetings with Regional Media” (program of GDS, which single respondent is Bidzina Ivanishvili).

3. FINANCE MINISTRY: EIB PLANS TO DOUBLE VOLUME OF INVESTMENTS IN THE NEXT FEW YEARS
   (Daily News: September 15, 2016)

   Georgian Finance Ministry reported that Laszlo Baranyay, vice president of European Investment Bank (EIB), has said that the EIB plans to double investments in the next few years.

   Projects, funded by the EIB, cover road and water infrastructure, energy, as well as SME development, the Ministry noted.

4. Netgazeti.Ge: “WERE PEOPLE POISONED IN TBILISI? – EXPLANATION OF HEALTHCARE MINISTRY’S EXPERT”
   (Economic Press Monitor: September 15, 2016)

   Emergency Service said that 15 people have applied to medical emergency service, complaining on headache, vomiting and sore throat in connection with intensified smell of gas in Tbilisi on September 14.

   However, Tbilisi gas distributor KazTransGas-Tbilisi assures that there is no reason for panic.

5. Netgazeti.Ge: “HOW PARTIES PLAN TO SOLVE EMPLOYMENT PROBLEM”
   (Economic Press Monitor: September 15, 2016)

   Parties’ position on political, economic and social issues is presented at the web page, created within NIMD project of Netherlands embassy.

   Levan Tsutskiridze, representative of Netherlands Institute for Multiparty Democracy, says that each of elections’ participants had about 3 weeks in order to prepare no more than 250-word answers on 29 questions.

6. PROFIT OF “HALYK BANK GEORGIA” JUMPED IN Q2 BY 109.1% Y-O-Y
   (Daily News: September 14, 2016)

   Halyk Bank Georgia reported profit of 2.6 million lari as of June 30. In comparison with the same period of 2015, the profit has jumped by 109.1%.

7. EU-FUNDED PROGRAM ENVISAGES MODERNIZATION OF GEORGIAN WINE INDUSTRY
   (Daily News: September 14, 2016)

   Among goals of EU-funded program East Invest 2, is to revitalize the Georgian wine industry, by transferring knowledge from Europe in the areas of wine marketing and standardization, Action Global Communications reported.

   Within this project, twinning relations have been established between Association Georgian Wine and Bulgarian Chamber of Commerce and Industry (BCCI).

8. EUROPEAN COMMISSIONER HAHN: NO OBSTACLES EXIST IN TERMS OF VISA LIBERALIZATION FOR GEORGIA
   (Daily News: September 14, 2016)

   Johannes Hahn, Commissioner for European Neighborhood Policy and Enlargement Negotiations, declared that “no obstacles exist” in terms of visa liberalization for Georgia.

   As Georgian Foreign Ministry reports, Hahn has declared the mentioned after the meeting with the Minister Mikheil Janelidze in Strasbourg yesterday.

9. Liberali: ““ACT”: 43% OF POPULATION WOULD APPLY TO “YANDEX TAXI” SERVICE IN FUTURE”
   (Economic Press Monitor: September 14, 2016)

   Study, conducted by Analysis and Consulting Team (ACT) in September, shows that 43% of population would apply to service of Russian company Yandex Taxi in future.

   Majority of Tbilisi residents is aware of Yandex Taxi (73%), while 12% has even used their service, ACT notes.

10. Netgazeti.Ge: “TBILISI CITY COUNCIL HANDED OVER LAND PLOT OF UP TO 3,200 SQUARE M TO THE PATRIARCHATE”
    (Economic Press Monitor: September 14, 2016)

    Tbilisi City Council decided to hand over area in Tbilisi of up to 3,200 square m to Georgian Patriarchate, the newspaper reports. The matter concerns two land plots, located on Sandro Euli and Kindzmarauli streets.

11. Tabula: “KAKHA KALADZE HOLDS 100% IN UNDECLARED COMPANY “MAX-BET””
    (Economic Press Monitor: September 14, 2016)

    Kakha Kaladze, number two in voting list of Georgian Dream – Democratic Georgia, is owner of undeclared company, the magazine reports.

    Specifically, Kaladze is the single owner of LLC Max-Bet, which is not indicated in his property declaration.

12. PROFIT OF “VTB BANK GEORGIA” GREW IN Q2 BY 40.1% Y-O-Y
    (Daily News: September 13, 2016)

    VTB Bank Georgia reported net profit of 8.93 million lari as of June 30. In comparison with the same period of 2015, the profit has increased by 40.1%.

13. AGREEMENTS WITH UKRAINE AND MALTA SIGNED WITHIN MARITIME FORUM
    (Daily News: September 13, 2016)

    Two agreements were signed within international maritime forum on development of Georgia’s transport-logistics systems, being held in Batumi, Economy and Sustainable Development Ministry reported.

    Particularly, intergovernmental agreement on maritime commerce navigation was signed between the governments of Georgia and Malta.

14. ECONOMY MINISTER: WE SUPPOSE THAT WE’LL SIGN FREE TRADE AGREEMENT WITH CHINA ALREADY IN DECEMBER
    (Daily News: September 13, 2016)

    “We suppose that we will sign free trade agreement with China already in December”, Economy and Sustainable Development Minister Dimitri Kumsishvili has declared.

    The Minister said that Chinese Minister of Commerce will visit Georgia in early October and during the visit, the sides will sign the memorandum on official completion of negotiations, “After this, text of the agreement will pass the expertise, which will take about 2-3 months”, he noted.

15. THE GOVERNMENT: GEORGIA HAS COMPLETED NEGOTIATIONS ON FREE TRADE AGREEMENT WITH CHINA
    (Daily News: September 13, 2016)

    Prime Minister Giorgi Kvirikashvili declared that Georgia has finished negotiations on free trade agreement with China “in a remarkably short period of time – in 7 months”. “This means that the world’s largest market with 1.4 billion customers will be opened for Georgian production”, he noted.

16. The Financial: “TO BEE OR NOT TO BEE?”
    (Economic Press Monitor: September 13, 2016)

    Export of Georgian honey to target markets has increased from 2014 to 2015 from 53 t to 63.5 t (i.e. by almost 20%).

    However, there were no honey exports to the EU, despite Deep and Comprehensive Free Trade Agreement (DCFTA), being established in September 2014 (while the DCFTA generally does not allow export of any animal products, it makes an exception for honey), the article points.

17. Rezonansi: “TRADE UNIONS AND OMBUDSMAN’S OFFICE DEMAND TO DEFINE LEGALLY MINIMUM WAGE”
    (Economic Press Monitor: September 13, 2016)

    Georgian Trade Unions and Public Defender’s Office believe that minimum salary should be defined by law. They state that the law should also define agency, which will be responsible for calculation and revision of minimal wage, and respective procedures.

18. Rezonansi: “LARI IS DOING A SLOW BURN”
    (Economic Press Monitor: September 13, 2016)

    Economist Mikheil Dundua believes that there are no economic grounds for lari devaluation. “Lari will start stabilization after elections”, he declares, adding: “I do not really expect devaluation”.

19. HEAD OF “TASTINGWORK”: QUALITY STANDARD OF GEORGIAN WINE ADVANCES
    (Daily News: September 12, 2016)

    National Wine Agency quotes Lisa Granik, head of the Agency’s contractor company Tastingwork, who said that “some wines in Georgia are of commercial production, some – non-commercial, but quality standard advances in both cases”.

    By the organization of the Agency, 10-member group of wine experts, headed by Granik, has visited Georgia within 1-week tour.

20. “TBC BANK” TO ACQUIRE 93.6% IN “REPUBLIC”
    (Daily News: September 12, 2016)

    TBC Bank declared that its parent TBC Group has signed with French Societe Generale an agreement, envisaging acquisition of 93.64% in bank Republic, Georgian asset of the latter, for 315 million lari. Transaction is expected to be completed until end of the year.

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