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facebook.com/ georgiatoday Issue no: 1058/134 • JUNE 19 - 21, 2018 • PUBLISHED TWICE WEEKLY PRICE: GEL 2.50 In this week’s issue... FOCUS ADB President Holds Offi cial ON CARING FOR OUR CITY Meetings in Georgia Tbilisi City Hall calls for clean-up NEWS PAGE 2 and care campaigns to raise awareness. The competition is on! PAGE 5 Georgia’s and Armenia’s “Deplorables” and “Desperados” – No Longer a Basket Case! ISET PAGE 4 Georgian Airline Gets EASA Authorization BUSINESS PAGE 5 MRDI Unveils $2 Billion Road Construction Project What Bakhtadze’s Policies as Finance BUSINESS PAGE 6 TBC Capital Releases Minister Hint about his Leadership Report on Fixed Income for Georgian Railways from 2005, including as BY SAMANTHA GUTHRIE CEO from 2013-2017. He studied microeconomics Securities in Georgia and management at Tbilisi State University and BUSINESS PAGE 7 has a PhD in technical sciences from the Georgian ne June 14, 2018, Mamuka Bakhtadze Technical University. At Georgian Railways, he was nominated to be the next lobbied on behalf of the Georgian position for Economy & Nationalism: Prime Minister of Georgia. While Project Viking, ZUBR and the South-West cor- he still has to go through confi r- ridor. Bakhtadze also actively contributed to Changes in the Russian mation procedures, he is expected Georgia joining China’s One Belt One Road ini- Oto be confi rmed, whereby he will begin to build tiative – focusing on Georgia’s role as a regional Western Borderlands a new government around him. As Georgia’s transport hub. Minister of Finance from November 13, 2017 to Bakhtadze moved from the private sector to the June 13, 2018, Bakhtadze’s policy positions can Ministry of Finance just eight months before being shed some light on his potential platform as nominated for prime minister. prime minister. This March, the National Democratic Institute Speaker of the Georgian Parliament and GD conducted a poll where 43% of respondents said member Irakli Kobakhidze called Bakhtadze, that were not familiar with Bakhtadze’s name, “distinguished by his education and versatility. 31% had neutral feelings towards him, 5% nega- He is a very serious expert in economy.” Before tive, and 9% positive. becoming Minister of Finance, Bakhtadze worked Continued on page 2 BUSINESS PAGE 11 Prepared for Georgia Today Business by Markets Asof15ͲJunͲ2018 STOCKS Price w/w m/m BONDS Price w/w m/m BankofGeorgia(BGEOLN) GBP19.27 Ͳ3,2% Ͳ14,1% GEOROG04/21 101.00(YTM6.36%) Ͳ0,2% Ͳ0,3% GeorgiaCapital(CGEOLN) GBP12.33 +10,9% na GEORG04/21 106.30(YTM4.47%) Ͳ0,3% +0,2% GHG(GHGLN) GBP2.70 Ͳ3,6% +2,3% GRAIL07/22 105.42(YTM6.22%) +0,1% Ͳ0,1% TBCBankGroup(TBCGLN) GBP17.06 +0,1% Ͳ2,4% GEBGG07/23 99.97(YTM6.01%) Ͳ0,1% Ͳ0,8% COMMODITIES Price w/w m/m CURRENCIES Price w/w m/m CrudeOil,Brent(US$/bbl) 73,44 Ͳ3,9% Ͳ6,4% GEL/USD 2,4582 +0,2% +1,1% GoldSpot(US$/OZ) 1278,94 Ͳ1,5% Ͳ0,9% GEL/EUR 2,8545 Ͳ1,0% Ͳ0,8% GEL/GBP 3,2634 Ͳ0,6% Ͳ0,6% INDICES Price w/w m/m GEL/CHF 2,4564 Ͳ0,9% +1,2% FTSE100 7633,91 Ͳ0,6% Ͳ1,2% GEL/RUB 0,0389 Ͳ1,0% Ͳ0,3% FTSE250 21005,52 Ͳ0,7% +1,1% GEL/TRY 0,5197 Ͳ5,1% Ͳ5,0% DAX 13010,55 +1,9% +0,3% GEL/AZN 1,4459 +0,4% +1,1% DOWJONES 25090,48 Ͳ0,9% +1,6% GEL/AMD 0,0051 Ͳ +2,0% NASDAQ 7746,38 +1,3% +5,4% GEL/UAH 0,0933 Ͳ0,5% +0,6% Chat with us MSCIEMEE 153,90 Ͳ2,9% Ͳ6,2% EUR/USD 0,8615 +1,4% +2,0% MSCIEM 1113,76 Ͳ1,9% Ͳ3,2% GBP/USD 0,7529 +0,9% +1,7% SP500 2779,66 +0,0% +2,5% CHF/USD 0,9976 +1,2% Ͳ0,4% MSCIFM 2742,32 Ͳ3,2% Ͳ4,7% RUB/USD 63,1426 +1,3% +1,4% GTIndex(GEL) 1582,68 ͲͲTRY/USD 4,7305 +5,8% +6,4% GTIndex(USD) 1208,13 ͲͲAZN/USD 1,6915 Ͳ0,2% +0,0% GEORGIA TODAY 2 NEWS JUNE 19 - 21, 2018 ADB President Holds Offi cial Meetings in Georgia BY THEA MORRISON sia Development Bank (ADB) Presi- Photo source: Sukhishvili National Ballet dent, Takehiko Nakao, paid an offi cial visit to Georgia on June 13-16. During his three-day stay, Takehiko Nakao met President of Georgia Giorgi Georgian National Ballet AMargvelashvili and Acting Minister of Finance and ADB Governor, Mamuka Bakhtadze, who was nominated as candidate for Prime Minister last week. Nakao visited ADB-assisted projects during his Sukhishvili in Euronews Spotlight During his visit, Nakao announced that ADB plans stay. Along with Tbilisi City Mayor Kakha Kaladze, tumes from different social backgrounds, and from to mobilize over $1.2 billion in fi nancing during he visited the University Metro station which has BY THEA MORRISON various regions of the country. 2019–2021, including support for two fl agship pro- improved mobility for over 300,000 passengers a Some dances from the mountain regions look like jects of the government: the development of the day. ADB provided $34 million in fi nancing to refur- real battles or competitions of bravery and cour- East-West and the North-South transport and eco- bish the station. opular news agency Euronews dedicated age. nomic corridors. The ADB President also met the Minister of an article to Georgia’s National Ballet "Isn’t it amazing? You can see the fascinating He noted that these projects are very important Regional Development and Infrastructure Maia Sukhishvili, saying that in parallel with show of the Georgian National Ballet Sukhishvili for Georgia as they pursue a goal of its becoming Tskitishvili, Minister of Education and Science Georgia’s natural beauty and fi ne cuisine, at the Rike Park every Saturday until August the a regional hub through increased connectivity and Mikheil Chkhenkeli, and the Head of the National the National ballet is one of the nation's 25th," reports Wolfgang Spindler for Euronews. trade, opening the land-locked markets of Armenia Bank of Georgia, Koba Gvenetadze. Pcultural “crown jewels.” The Georgian National Ballet was founded by and Azerbaijan, and extending the Central Asia Nakao then had a meeting with the representa- Wolfgang Spindler, Art Editor of Euronews visited Iliko Sukhishvili and Nino Ramishvili in 1945 and Regional Economic Cooperation corridors to the tives of TBC Bank, which has received ADB loans Tbilisi to meet the Georgian National Ballet Sukh- was initially named The Georgian State Dance Black Sea and Europe. through non-sovereign operations. ishvili, the national folk ensemble, which brings Company. It was the fi rst professional state dance “ADB will continue to support transformative Partnering with local banks and microfi nance together traditional Georgian Folk dance, classical company in Georgia. After them, many other com- energy as well as urban transport and water pro- institutions, ADB supported more than 14,000 ballet and modern dance elements. panies were founded on their example. jects, while helping the government to implement micro, small, and medium-sized enterprises The authors of the article explain that Sukhishvili Nino Ramishvili and Iliko Sukhishvili became reforms in such areas as pensions, capital markets (MSMEs) in agribusiness, retail, small manufactur- started out over 70 years ago as a family enterprise, inseparable partners both on stage and in life. Filled and private sector promotion. It will strengthen ing, and tourism in 2014–2016. During the meeting, when the husband and wife team of Iliko Sukhish- with determination, they made their dream a real- non-sovereign operations. It will also expand assis- it was noted that ADB will continue to support vili and Nino Ramishvili founded the Company. ity. Their life together was an adventure of creativ- tance to education, including technical and voca- MSMEs through sovereign and non-sovereign “The Ballet has since survived the red terror of ity, which was fully realized through new genera- tional education and training and using solar energy operations. Stalin’s Soviet Union, the Cold War and the break- tions of dancers. in schools,” he stated. Georgia became an ADB member country in 2007 up of the Soviet Union, growing into an interna- The Georgian National Ballet has been hosted by The ADB President also commended Georgia’s and since then it has supported both infrastructure tionally renowned company,” the article reads, many world renowned impresarios and companies. impressive economic progress over the last decade, and institutional development. adding now the grandchildren - Iliko Sukhishvili, The Georgian National Ballet has appeared at the noting the government’s sound management of the Georgia has received over $2.4 billion in develop- the Artistic Director and Choreographer-in-Chief Albert Hall, The Coliseum, The Metropolitan Opera, economy amid regional economic pressures. ment assistance from the ADB since 2007. Moreo- and his sister Nino, Director General and Costume Madison Square, and dozens of famous venues. In “The country has become an important gateway ver, the bank’s operations and staff in Georgia have designer, run the ensemble and continue the tradi- 1967, La Scala welcomed them - it is the fi rst and only between European and Asian markets,” he said. doubled in the last two years and continue to grow tions of their grandparents. time a folklore group was given a chance to perform “Georgia’s economic growth has accelerated to to bring better services and infrastructure to the The ballet integrates traditional dances and cos- there. The curtain was lifted 14 times, a record. 5.0% in 2017 from the 2.8% recorded in 2016.” people of Georgia.