Issue no: 1096/153 • OCT. 30 - NOV. 1, 2018 • PUBLISHED TWICE WEEKLY PRICE: GEL 2.50 In this week’s issue... Weekly Entrepreneurial News @entrepreneur.ge NEWS PAGE 2 Georgia’s Growth Projections Still Optimistic, but the Downside Risks Are Signifi cant ISET PAGE 4 Dream Big But Don’t Forget To Deliver! FOCUS BUSINESS PAGE 6 ON UNCERTAINTY Customer Seminar by AG Salome Zurabishvili will face MELCO Elevator Georgia opposition candidate Grigol Vashadze in a second round to on Mitsubishi Elevators, be held by December 2 PAGE 2,3 Escalators, Air-Conditioning & Factory Automation BUSINESS PAGE 11 Election Round-Up U.S. National Security competitive but "an unlevel playing fi eld" affected BY TEAM GT by private-media bias. Advisor John Bolton Visiting CEC: VOTER TURNOUT the Caucasus ccording to the results of the 3705 LOWER THAN IN 2013 precincts published by the CEC, Georgia’s Central Election Commission (CEC) presidential candidate Salome spokesperson Ana Mikeladze stated that at 12:00 Zurabishvili, supported by Geor- on election day (October 28), voter turnout had gian Dream, received 38.64% of amounted to just 15.95%. The highest activity Athe votes and United National Movement can- (27.4%) was observed in the Ambrolauri district, didate Grigol Vashadze received 37.74%. while the lowest was 12% in Kazbegi. Mikeladze According to preliminary information of the noted that compared to the voter turnout during CEC, 615,624 voters supported Salome Zura- the 2013 presidential elections, the number of bishvili, and Grigol Vashadze 601,188. voters was down. "By 12:00, the voter turnout was Zurabishvili will face opposition candidate 15.95%, which is 558,755 voters. If you compare Grigol Vashadze in a second round to be held this data to the presidential elections in 2013, then by December 2. the voter turnout by 12.00 amounted to 17.15%,” International observers say the fi rst round was she stated. Continued on page 2 CULTURE PAGE 15 Prepared for Georgia Today Business by Markets Asof26ͲOctͲ2018 STOCKS Price w/w m/m BONDS Price w/w m/m BankofGeorgia(BGEOLN) GBP14.87 Ͳ7,6% Ͳ14,1% GEOROG04/21 102.88(YTM5.50%) na Ͳ0,2% GeorgiaCapital(CGEOLN) GBP11.50 +0,3% +5,0% GEORG04/21 105.15(YTM4.63%) +0,2% Ͳ0,1% GHG(GHGLN) GBP2.40 +9,1% +7,4% GRAIL07/22 106.17(YTM5.87%) Ͳ0,0% Ͳ0,2% TBCBankGroup(TBCGLN) GBP15.74 +3,7% Ͳ3,6% GEBGG07/23 98.07(YTM6.48%) +0,1% +0,0% COMMODITIES Price w/w m/m CURRENCIES Price w/w m/m CrudeOil,Brent(US$/bbl) 77,62 Ͳ2,7% Ͳ4,6% GEL/USD 2,6979 +0,3% +3,2% GoldSpot(US$/OZ) 1233,53 +0,6% +3,3% GEL/EUR 3,0753 Ͳ0,8% +0,2% GEL/GBP 3,4616 Ͳ1,5% +0,5% INDICES Price w/w m/m GEL/CHF 2,7062 +0,1% Ͳ0,0% FTSE100 6939,56 Ͳ1,6% Ͳ7,6% GEL/RUB 0,0411 +0,2% +3,5% FTSE250 18352,90 Ͳ2,4% Ͳ10,2% GEL/TRY 0,4824 +1,1% +12,7% DAX 11200,62 Ͳ3,1% Ͳ9,6% GEL/AZN 1,5904 Ͳ0,1% +3,3% DOWJONES 24688,31 Ͳ3,0% Ͳ6,4% GEL/AMD 0,0056 Ͳ +3,7% NASDAQ 7167,21 Ͳ3,8% Ͳ10,3% GEL/UAH 0,0958 +0,1% +2,8% MSCIEMEE 149,68 Ͳ3,7% Ͳ7,2% EUR/USD 0,8770 +1,0% +3,0% MSCIEM 939,55 Ͳ3,3% Ͳ10,2% GBP/USD 0,7793 +1,8% +2,6% SP500 2658,69 Ͳ3,9% Ͳ8,5% CHF/USD 0,9970 +0,1% +3,2% MSCIFM 2465,99 Ͳ1,5% Ͳ5,3% RUB/USD 65,5977 +0,2% Ͳ0,4% GTIndex(GEL) 1582,68 ͲͲTRY/USD 5,5936 Ͳ0,8% Ͳ8,5% GTIndex(USD) 1208,13 ͲͲAZN/USD 1,6956 +0,0% Ͳ0,0% GEORGIA TODAY 2 NEWS OCTOBER 30 - NOVEMBER 1, 2018 Election Round-Up @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 Entrepreneurial news with you: Silk Road Group founder Giorgi Ramishvili, Partnership fund CEO David Saganelidze and TBC Bank founder Mamuka Khazaradze offi cially opened the Radisson Collection in Tsinandali on the grounds of the Aleksandre Chavchavadze museum and historic garden complex. The Tsinandali complex features a 1200- seat amphitheater, 600-seat music hall, wine factory, vineyard and now a 142-room 5-star hotel with event venues, library, restaurants, spa center, swimming pool and fi tness club. Total investment in the hotel was $35 mln, while the overall investment in the complex was $60 mln. Future Laboratory founder Irakli Kashibadze, former GD of GITA, is working on a new education project with the Ministry of Education and Science to foster the idea of innovative education. The aim is to maximize access to new technologies and modern infrastructure to master future professions through Continued from page 1 PRELIMINARY RESULTS SHOW - Shalva Natelashvili, 2,26% - Davit Usu- updated information, with the help of a new, more UNITED OPPOSITION ZURABISHVILI GETS 38,66%, pashvili, 2.26% - Zurab Japaridze and facilitating teacher. Future Lab has started pilot CANDIDATE GETS MAJORITY VASHADZE - 37,7% 1.33% - Kakha Kukava. programs in several private schools and according to OF VOTES ABROAD The Central Election Commission (CEC) Kashibadze, soon the same projects will be launched Central Election Commission (CEC) preliminary results showed that ruling BIDZINA IVANISHVILI at public schools. preliminary results showed that the can- Georgian Dream (GD) supported can- ON HIS VOTE & THE didate of the United Opposition, Grigol didate Salome Zurabishvili led with SECOND ROUND-OFF Georgian startup winery My Way, aiming to fi nd Vashadze, led in the elections held abroad, 38.66%, while the candidate of the United “Today, we voted Georgia's European the balance between traditional Georgian followed by the ruling Georgian Dream Opposition, Grigol Vashadze, took sec- choice,” Ivanishvili announced. “With winemaking and modern techniques, presented (GD) supported candidate Salome Zura- ond place with 37.7%. This was at a time today's choice, we will eventually reject the App myway.wine. Using their online bishvili. when votes had been counted at 3689 lies and violence, and will fi nd our right platform, you can get your very own bottle of The CEC stated that according to the precincts out of total 3705. path - Europe and culture. wine in 4 easy steps: 1. Chooses your favorite results of 44 out of 58 polling stations At that time it was clear Salome Zura- It will be respect for our great history, variety and vine in a vineyard in Georgia 2. opened abroad, Vashadze got the major- bishvili had been supported by 614,964 which is our greatest wealth. Finally, we Receive an e-certifi cate and a photo of the vine ity of votes in all, excluding Afghanistan, voters, while Grigol Vashadze had 599,662 will join our big family, which is a devel- tagged with your name 3. myway.wine makes a where the majority of the Georgian votes. oped Europe.” Special Edition wine from its vineyard for you 4. peacekeepers voted for Zurabishvili. A total of 3705 polling stations were He then commented on the second You get a Bottle of Wine in a vintage wooden At the time this was released votes had opened in the country, and the results round-off by noting, “The probability of box labeled with your name. not been yet counted in the United States, of 3689 precincts amounted to 99.57% a second round run-off is very low, but Bulgaria, Ireland, Canada, Lithuania, 5 of total votes. there is probability. If there is a second Follow the Entrepreneur Georgia Instagram page to get the latest updates from polling stations of Greece in 1 polling 10.97% of voters supported European round, there is no doubt Salome Zura- Georgian Entrepreneurs. For doing business with Georgian Entrepreneurs, write us on station of Spain. Georgia candidate David Bakradze, 3.76% bishvili will win.” [email protected] GEORGIA TODAY OCTOBER 30 - NOVEMBER 1, 2018 BUSINESS 3 Presidential Elections: How Has the Media Reported? 72 media outlets. is hard for the public to decipher what BY AMY JONES Speakers George Jologua of the Civic is a lie and what is the truth,” said George Development Institute, Eka Beridze of Jologua. Voters can access more and Internews Georgia, and Giorgi Mgeladze more information, especially online. n October 28, voting for and Nata Dzvelishvili of the Georgian However, the public may be easily mis- the presidential elections Charter of Journalistic Ethics, discussed led due to a shortfall of high-quality Sunday, has been targeted by media with The election results showed a marginal took place across Georgia. the media coverage from press and online journalistic work which verifi es and an above average amount of negative win for Zurabishvili over Vashadze, with Media campaign coverage media, radio stations, and TV channels. scrutinizes evidence. Information was coverage. Newspaper Asaval Dasavali, Davit Bakradze lagging behind. The can have a huge impact on Findings showed that the media was often taken from only a small number ran stories entitled ‘Salome’s Cursing’, president will now be decided in a run- Othe outcome of elections. In fact, the generally critical of all presidential can- of sources and focused on personal comparing her to a horror movie. Offen- off. The political unbias of the media media can be considered a key pillar of didates with the exception of radio which attacks, generalized statements, and sive terminology towards her was com- perhaps fuelled the closeness of the two democracy.