Telasi distributed 1.9 billion kWh of electricity in 1H26

Despite the positive dynamics in June, a slight decline is recorded in the tourism sector in the first half of this year. In particular, in the first half of 2026, tourism receipts totaled $2 billion, which is 0.2% less than in the same period last year.As for expectations, according to the investment bank’s forecast, the sector will return to growth - tourism revenues will reach $4.9 billion in 2026, and $5.3 billion by 2027.The review also focuses on official statistics from the National Bank of Georgia. According to the National Bank, in June 2026, official international reserves increased by 51.9% year-on-year and reached a new record level of $7.1 billion.Compared to the previous month (May), reserves increased by 1.7% in June, which means an increase of $115.8 million in absolute terms.“The change in reserves is related to foreign exchange operations of the government and/or the banking sector, as well as the purchase of foreign exchange by the NBG using the BMatch platform (information will be available on July 27). It is worth noting that as of June 2026, monetary gold accounts for 14.2% of total international reserves,” the Galt & Taggart review states.

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China Eastern Airlines will implement the flights three times a week on Wednesdays, Fridays and Sundays.China Eastern Airlines is the third Chinese airline to operate regular flights between Georgia and China.“The new route will help strengthen tourism, business, and trade-economic ties. Combined with the visa-free regime, travel between the two countries will become easier,” the Union of Georgian Airports said.Tickets can be purchased on the airline's official website: www.ceair.com

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According to the American Association of Wine Economics (AAWE), the value of wine imported from Georgia to Canada in 2025 increased from $1.23 million to $1.58 million (+$0.35 million) compared to 2024.The changes in the market are related to the blockade imposed by Canada on American products. In 2024-2025, wine imports from the US fell from $431.02 million to $99.94 million, a dramatic 76.8% decrease (-$331.08 million).The European giants benefited the most from the substitution of American products: France: Imports increased by 12.7% to $601.13 million (+$67.90 million). Italy: The increase was 6.6% and the volume increased to $509.83 million (+$31.48 million). Spain: Imports increased by 10.2% ($148.18 million). Significant increases were recorded by Australia (+18.4%), New Zealand (+16.6%) and Chile (+24.1%).Despite increased exports from individual countries, including Georgia, the US wine deficit could not be fully filled. Total global imports of Canadian wine fell by 7% to $1.93 billion, meaning that almost half of the US deficit was simply not replaced in the market.

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Ahead of the meeting of foreign ministers of the EU member states, Kallas answered a question from "Euroscope" and noted that European circles are actively discussing how to help Georgian citizens without losing hope for a European future.According to Kallas, discussions have taken place on how best to achieve this so that the population does not lose faith in Europe.“The Black Sea strategy we have in place already from last year, now it’s the implementation of this. The different countries around the Black Sea are, of course, an important part of this. Now, we are also struggling with Georgia, as we don’t really have connections with the government. We don’t want to support the government. We want to support the people of Georgia. We have also held discussions on how we can best deliver this support, ensuring that the public does not lose hope in Europe,” Kallas stated.For context, alongside the situations in Ukraine and the Middle East, diplomats at today’s Council meeting in Brussels will discuss the European Union’s Strategic Approach toward the Black Sea Region.

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Of this figure, GeoStat reports that exports accounted for USD 3,876.7 million, reflecting a 20.1 per cent surge, while imports stood at USD 9,048.8 million, representing a modest growth of 0.7 per cent.Consequently, the negative trade balance for January–June 2026 reached USD 5,172.1 million, constituting 40.0 per cent of the total foreign trade turnover.

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Lion Finance Group (BGEO LN) shares closed at GBP 115.90/share (- 1.36% w/w and +11.76% m/m). More than 192k shares traded in the range of GBP 112.80 - 118.20/share. Average daily traded volume was 88k in the last 4 weeks. The volume of BGEO shares traded was at 0.45% of its capitalization.TBC Bank Group (TBCG LN) closed the week at GBP 46.62/share (+1.17% w/w and +10.16% m/m). More than 246k shares changed hands in the range of GBP 44.58 - 46.82/share. Average daily traded volume was 68k in the last 4 weeks. The volume of TBCG shares traded was at 0.44% of its capitalization.Georgia Capital (CGEO LN) shares closed at GBP 43.00/share (-4.66% w/w and +7.63% m/m). More than 144k shares traded in the range of GBP 41.45 - 45.30/share. Average daily traded volume was 45k in the last 4 weeks. The volume of CGEO shares traded was at 0.42% of its capitalization.  

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As you know, the regulator has reduced the reserve requirement ratio for banks on funds raised in foreign currency from 25% to 20% since June.In June, refinancing loans decreased by 105 million, and the balance as of July 1 did not exceed 395.5 million, while one-month loans amounted to 503 million.

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Of these, it holds 4.95% directly (5.07% before the reduction) and 1.16% indirectly (1.21% before the reduction). The indirect holding structure is represented by the following financial instruments - stock lending mechanism - 0.4%, and 1.12% - contracts for difference (CFDs).As a result, the total number of voting shares held by BlackRock is 3,413,047 units.Recall that the American giant acquired 5.02% of TBC PLC shares in May last year, partly directly and partly in the form of financial instruments.Namely, 4.02% was acquired directly, and an additional 1% was acquired through financial instruments - including contracts for difference (CFDs) and a share lending mechanism. At that time, BlackRock's total voting shares amounted to 2,827,737.A contract for difference (CFD) is a financial instrument that allows an investor to benefit from fluctuations in the price of an asset - without actually owning the share. The investor enters into a contract to cover the price difference based on the change in value.For example, if BlackRock bought a CFD (contract for difference) on TBC PLC shares in the hope that their price would rise, and if the price did rise, BlackRock would make a profit on the price difference - although it would not become a direct owner of the shares and would not be entitled to receive dividends. However, through the CFD it may have the right to temporarily exercise voting rights, which would help to strengthen its position in TBC. The same principle applies under the same conditions if the price fell.As for the share lending mechanism, this means that an investor temporarily receives shares from another owner (often in exchange for some compensation), which gives him temporary voting rights, but the legal right to ownership still belongs to the lender.With the securities lending mechanism, BlackRock temporarily "pledges" shares from other owners who do not actively use these shares. This mechanism allows BlackRock to have voting rights and benefit from the positions of other shareholders, although the legal ownership of the shares remains with the lender.Typically, this mechanism is used for several purposes. In particular, when an investor or shareholder wants to influence the decisions of the company, for example, at the general meeting. Also, this tool facilitates the implementation of various strategies, for example, short positions or hedging. Buying physical shares is much more expensive (multiple fees, transaction complexity), and this allows the borrower to better manage long-term or short-term strategies.Ultimately, both mechanisms allow BlackRock to expand its influence in TBC PLC without having full ownership.For your information, BlackRock is the world's largest asset management company, through which trillions of dollars of capital are returned to global markets. The company plays an important role both as an institutional investor and as a partner for large corporations.The transaction closed in London at the end of June 2026.

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