Kurt Volker: There Will Be a Reaction If CULTURE PAGE 11 Scotland Defeats Georgia the Anaklia Project Doesn't Go Forward at Dinamo Arena
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Issue no: 1182/196 • SEPTEMBER 3 - 5, 2019 • PUBLISHED TWICE WEEKLY PRICE: GEL 2.50 In this week’s issue... FOCUS ON THE PRIME Weekly Entrepreneurial MINISTER News @entrepreneur.ge Bakhtadze resigns PAGE 2 NEWS PAGE 2 TBC Bank Co-founders Release Statement BUSINESS PAGE 3 Georgian Railway Workers Reach Agreement with Employer BUSINESS PAGE 7 Is Georgia Doing Enough to Grow Its Gambling Industry? BUSINESS PAGE 9 Euronews Discovers Ajara’s Tourism Potential Kurt Volker: There Will Be a Reaction if CULTURE PAGE 11 Scotland Defeats Georgia the Anaklia Project Doesn't Go Forward at Dinamo Arena EXCLUSIVE INTERVIEW BY VAZHA TAVBERIDZE s controversies surrounding the Anaklia Deep Sea port show no signs of abating, GEORGIA TODAY spoke to Kurt Volker, Exec- utive Director of the McCain Institute for International Leader- ship, to fi nd out more about what Washington and the proverbial West might be thinking about the Anaklia conundrum. A“Georgia, a small country wedged between Russia and Iran, is a poten- tial transit hub for commerce from Central Asia to Europe and from Europe to Central Asia,” Volker tells us. “It is a way of linking Georgia’s economy to a global economy and the way of linking that economy of Central Asia to global economy through Georgia. So, it has great potential SPORTS PAGE 11 to be an additional element in creating economical alternative, stability, growth and attraction for further investment in Georgia and region. It also has tremendous potential as a project that will strategically reinforce Prepared for Georgia Today Business by Georgia’s independence as a growing economic power.” Markets Asof30ͲAugͲ2019 STOCKS Price w/w m/m BONDS Price w/w m/m BankofGeorgia(BGEOLN) GBP13.61 Ͳ0,6% Ͳ5,0% GEOROG04/21 104.81(YTM3.71%) +0,2% Ͳ0,0% SECRETARY OF STATE POMPEO ISSUED A RATHER GeorgiaCapital(CGEOLN) GBP9.98 Ͳ2,7% +1,2% GEORG04/21 106.07(YTM2.97%) +0,1% +0,3% BLUNT WARNING AGAINST POTENTIAL CHINESE GHG(GHGLN) GBP2.27 Ͳ +1,3% GRAIL07/22 109.96(YTM4.02%) +0,0% Ͳ0,2% INTEREST IN ANAKLIA PORT. WHAT DID HE TBCBankGroup(TBCGLN) GBP12.32 Ͳ3,4% Ͳ11,6% GEBGG07/23 102.88(YTM5.17%) +0,5% +1,3% MEAN AND WHY SHOULD WE BE WARY? COMMODITIES Price w/w m/m CURRENCIES Price w/w m/m CrudeOil,Brent(US$/bbl) 60,43 +1,8% Ͳ6,6% GEL/USD 2,9513 +0,8% Ͳ0,4% The Chinese come with cash and say they will invest, so it might prove GoldSpot(US$/OZ) 1520,38 Ͳ0,4% +6,3% GEL/EUR 3,2355 Ͳ0,7% Ͳ2,1% tempting for some countries. However, China is not a democracy, it is GEL/GBP 3,5884 Ͳ0,2% Ͳ0,3% INDICES Price w/w m/m GEL/CHF 2,9784 Ͳ0,9% Ͳ0,5% an authoritarian government; it seeks to have a unilateral advantage eco- FTSE100 7207,18 +1,6% Ͳ5,7% GEL/RUB 0,0442 Ͳ0,5% Ͳ5,4% FTSE250 19393,63 +0,8% Ͳ1,9% GEL/TRY 0,5054 Ͳ0,6% Ͳ5,2% nomically in global trade. What they do is not about creating an open DAX 11939,28 +2,8% Ͳ1,7% GEL/AZN 1,7389 +0,7% Ͳ0,5% international trading order; they use preferential deals through state- DOWJONES 26403,28 +3,0% Ͳ2,9% GEL/AMD 0,0062 ͲͲ NASDAQ 7962,88 +2,7% Ͳ3,8% GEL/UAH 0,1174 +0,6% Ͳ0,9% owned companies to gain an advantage. It’s a real risk for countries like MSCIEMEE 167,04 +1,0% Ͳ5,3% EUR/USD 0,9102 +1,4% +1,5% Georgia and accepting the funding might lead to losing a high degree of MSCIEM 984,33 +1,1% Ͳ5,6% GBP/USD 0,8222 +1,0% Ͳ0,1% SP500 2926,46 +2,8% Ͳ2,9% CHF/USD 0,9904 +1,7% Ͳ independence and potential for independent growth and prosperity. MSCIFM 2617,43 +0,1% Ͳ6,7% RUB/USD 66,7765 +1,2% +5,1% GTIndex(GEL) 1582,68 ͲͲTRY/USD 5,8324 +1,3% +4,9% Continued on page 6 GTIndex(USD) 1208,13 ͲͲAZN/USD 1,7001 +0,1% +0,1% GEORGIA TODAY 2 NEWS SEPTEMBER 3 - 5, 2019 Bakhtadze Resigns as @entrepreneur.ge Gamarjoba! I’m the Editor-in-Chief of the Georgian edition of Entrepreneur magazine and I’m here to share the top weekly Prime Minister after Entrepreneurial news with you: Have you been to K2 yet, a popular café hidden in a Batumi yard, in a part of the city packed with terraced houses? Founders Levan Khujadze, Paata Dzidziguri "Fulfi lling his Mandate" and Vladimer Todadze had a strong belief that the café would establish itself as one of the best places for meetings and making new friends. And it has! When a construction company was denied BY ANA DUMBADZE permission to build a residential block on the site, the authors of K2 set to making the territory ideal for music festivals and other arty events. They created amuka Bakhtadze, now the art-dive interior with the help of friends, keeping the former Prime Min- the genuine feel of the original building. It is the ister of Georgia, made modest environ that attracts guests most of all. the fi rst comments on his resignation at a GuestMe, a Georgian gastronomic platform and a Mmeeting with media representatives. startup launched for tourists, is set to begin Bakhtadze stated that he fi rst discussed operating this September. It will enable housewives leaving his post with state offi cials, to host tourists with their own cooking and give including the leader of Georgian Dream visitors the chance to discover genuine local cuisine Ruling Party Bidzina Ivanishvili, in spring. and gastro-culture in the heart of Georgian families, As the former PM noted, he had fi nal taste specialties and participate in the preparation consultations with the political team of process. In addition, the service is to be pocket- the Ruling Party yesterday. friendly. Founders Tornike Pkhovelishvili and “I made a decision to resign. I had the Tinatin Dekanoidze were inspired by the idea of fi rst conversation in this regard with establishing effective communication between state offi cials at the end of spring, includ- tourists and their hosts and offering something new ing the party's leader, Bidzina Ivanish- for those seeking unique experiences. vili. Naturally, these conversations con- had indeed been enough to accomplish Bakhtadze admitted that initially, Geor- tinued. I also had the fi nal consultations the goals for which he was elected. gian politics was the last place he imag- EYE is an interactive museum taken out to the city with our political team yesterday. The “I’m focusing on goals. This time was ined himself. streets, which is to introduce 3D mobile models goals that I had while serving at this enough to accomplish the goals for which “The very last sphere I imagined myself presenting tourists with fast briefs on intangible post, for the achievement of which my I was elected to this post," he said, add- working in was Georgian politics, but culture, urban traditions, historic facts and legends. team gave me the mandate and trust, ing that no government can be success- for the purposes I mentioned, we made The creator is Vato Ghudushauri, a 2nd-year student have been implemented. A strategic ful while there is a challenge of occupa- a joint decision at the time. This was at the Business and Technology University who is development framework for the coun- tion and poverty in the country. enough time to prepare this strategic working as an artifi cial intelligence engineer. He try has been created and implemented. "No government, regardless of the development framework, start imple- plans to move the EYE app to the global market, I decided to resign because I believe results achieved, will succeed while there menting it and ensure its sustainability, launching it in a number of European cities and that I have fulfi lled my mission at this is a challenge of poverty and occupation which is supported by our laws and making it an inseparable part of traveling the world. stage,” Bakhtadze said. in the country. It would be very wrong international agreements today," Follow the Entrepreneur Georgia Instagram page to get the latest updates from When asked if one year and two months for any government to consider itself Bakhtadze said. Georgian Entrepreneurs. For doing business with Georgian Entrepreneurs, write us on is enough time for being a Prime Min- successful when there is even one such Early on Monday, Bakhtadze announced [email protected] ister, Bakhtadze answered that this period challenge in the country,” he said. his resignation through social media. GEORGIA TODAY SEPTEMBER 3 - 5, 2019 BUSINESS 3 TBC Bank Co-founders Release Statement teed by the Constitution of Georgia and international BY ANA DUMBADZE human rights law. If the authorities wish to involve international experts in the investigation, these experts should not be lawyers hired by the Prosecu- o-Founders of JSC TBC Bank, Mamuka tor's Offi ce, irrespective of their qualifi cations, but Khazaradze and Badri Japaridze, have lawyers with independent international authority released a joint statement, saying that who will be able to provide complete and compre- the Prosecutor’s Offi ce has summoned hensive information on the case and be able to cre- the representatives of the diplomatic ate their own opinion regarding the current case Ccorps to a closed meeting on September 6, where independently,” the statement reads. the fi ndings related to the Khazaradze-Japaridze The Prosecutor’s Offi ce offi cially charged Mamuka case, prepared by two international experts hired Khazaradze and Badri Japaridze on July 24 for by the same Offi ce, will be introduced.