Share prices of Georgian companies fell sharply on the LSE

“The works I am showing here at TBC Concept Gallery were painted in Berlin this past year. They are based on drawings, memories and accidents” - Tony Just.“A seeker is someone who is searching and looking. This exhibition provided a context for me to reexamine how I make images. I came to this work seeking change. I was not after a single image but a selection of pictures from several bodies of works which create an atmosphere of uncertainty.  Athletes removed from the mat. Stripped of their original meaning and environment. These images are manipulated physically and digitally. It feels as though I’m moving through shadows towards something which is not yet fully seen. Where both presence and absence can co-exist” - David Meshki.Tony Just is a visual artist, born in the US. For the past 17 years he has lived and worked in Berlin, Germany. His work has been shown internationally. In the fall of 2021 and spring of 2022, he participated in the residency sponsored by Propaganda here in Tbilisi and also taught at VA(A)DS at Free University of Tbilisi. While here in Tbilisi he had a show of his books and a wall mural at Kona Books which was curated by Nina Akhvlediani. His work was included in the group show entitled Sanctuary last year at LC Queisser.Born in 1979 in Tbilisi (Georgia), David Meskhi grew up in a sporting environment: his father was a coach for the national gymnastics team of the former Soviet Union. He studied a joint honors degree in photography and cinema at Shota Rustaveli Theatre and Film University in Tbilisi. In 2015, he co-directed an award-winning documentary «When the Earth Seems to Be Light», a portrait of disenchanted Georgian youth.In 2024, the Musée d'art Moderne et Contemporain de Saint-Étienne Métropole (MAMC+) organized his first solo museum exhibition in France.Address: Marjanishvili 7, TBC Concept FlagshipOpening hours: Monday – Saturday, 10:00 – 20:00

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Of this number, visits abroad by Georgian resident visitors amounted to 599.7 thousand, which is 0.6% less than in the same period of 2024.412.6 thousand tourist-type visits were made abroad by Georgian resident visitors, which is 2.6% more than in the same period of the previous year.The majority of visits (45.9%) were made by Georgian resident visitors aged 31-50, and the number of visits made by women accounted for 47.6% of the total number of visits.In the third quarter of 2025, the largest share of visits (36.1%) was made to visit friends/relatives.According to Geostat, the majority of visits were made to Turkey and the Russian Federation, with 213.6 thousand and 113.7 thousand visits, respectively.The average number of nights spent during visits in the third quarter of 2025 was 7.90, which is 0.5% more than the figure recorded in the third quarter of 2024 (7.86 nights). 97.8% of visits were repeat visits.Expenditures incurred during visits in the third quarter of 2025 amounted to ₾699.9 million, which is 3.6% more than in the same period of the previous year. The average cost per visit increased by 4.1% compared to the third quarter of 2024 and amounted to 1,167.2 GEL.

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Of the total volume, 470 million liters (51%) were regular gasoline, 425 million liters (46%) were premium, and 23 million liters (2%) were super grade fuel. The report notes a gradual decline in the share of regular fuel, largely offset by the growing demand for premium gasoline as the car fleet becomes newer and more modern.TBC Capital’s research indicates that the average import price of gasoline in 2024 fluctuated between USD 0.60 and USD 0.65 per liter. In the first nine months of 2025, the average import price continued to decline, driven by falling global oil prices and Georgia’s access to cheaper fuel sources.Meanwhile, diesel imports also recorded steady growth following a period of stabilization. Diesel imports rose by 8.8% in 2023 and 9.4% in 2024, totaling 770 million liters.According to the report, diesel fuel is primarily used in construction and agricultural machinery, trucks, and distribution vehicles, and the increase in imports reflects heightened economic activity in these sectors.The average import price of diesel in 2024 was USD 0.63 per liter, marking a continued decline from the 2022 peak caused by surging crude oil prices during the Russia–Ukraine war and temporary disruptions in Azerbaijani diesel supplies.Diversified Import MarketsGeorgia’s access to sea routes ensures a diversified fuel import base, allowing flexibility in switching suppliers. The majority of petroleum products are imported from Bulgaria, Russia, and Romania, which together accounted for 82% of Georgia’s total fuel imports in 2024.However, Russia’s share in Georgia’s fuel imports declined significantly in 2024 following its temporary export ban, compared to the levels seen in 2022–2023. In the case of diesel, Russia still held a 74% share of Georgia’s imports last year, although current export restrictions could alter this balance in the future.Fuel Prices and Market TrendsFuel prices in Georgia closely mirror global oil market trends. During the COVID-19 pandemic, prices dropped sharply due to lower demand, but surged again following Russia’s invasion of Ukraine in early 2022.From 2019 to 2021, gasoline and diesel prices moved largely in parallel; however, this pattern changed in 2022, with prices — particularly for diesel — remaining elevated since the post-war peak.

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As of the statistics of the National Bank of Georgia, 5.7 billion GEL of this amount is government deposits. The dollarization of total deposits - ₾ 59.9 billion (excluding government deposits) is 54%.According to the monthly review of the National Bank of Georgia, the dollarization of deposits of legal entities has increased by 0.8 percentage points to 40.8%.In the 25.157 billion GEL portfolio, the equivalent of 10.6 billion GEL is in foreign currency. The balance on banks' foreign currency current accounts is up to 8 billion GEL. Of which, the equivalent of 5.6 billion GEL is on the accounts of companies and the equivalent of 2.3 billion GEL is the balance on the accounts of individuals.

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“The National Bank of Georgia remains committed to replenishing reserves. It is noteworthy that, thanks to favourable market conditions, the NBG continues to bolster its reserves.In March, USD 101.7 million was added; in April, USD 266.4 million; in May, USD 245.4 million; in June, USD 266.0 million; in July, USD 416.9 million; in August, USD 199.6 million; and in September, USD 100.0 million. In total, net purchases from January to September 2025 amounted to USD 1,596.0 million. Data on net purchases for October will be published on November 25.Foreign exchange reserves are a crucial safeguard for macroeconomic stability. The NBG’s long-term strategy has consistently focused on accumulating FX reserves and effectively managing reserve assets. The achievement reflected in the October figures underscores this commitment.As of October 2025, gold accounts for 16.4% of the total international currency reserves, valued at USD 920.6 million. Due to fluctuations in gold prices, the value of monetary gold increased by USD 420.6 million since acquisition, highlighting the validity of the National Bank’s reserve diversification strategy,” the bank states.According to the NBG, updated data on official foreign exchange reserves will be published on December 5, 2025.

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The 3Q 2025 Dividend will be payable in Pounds Sterling to ordinary shareholders of TBC PLC on the register of members at the close of business on the record date of 9 January 2026, pursuant to the following timetable: Ex-Dividend Date: 8 January 2026 Record Date: 9 January 2026 Currency Conversion Date: 16 January 2026 Payment Date: 10 February 2026 The Georgian Lari to Pound Sterling exchange rate that will apply to the 3Q 2025 quarterly dividend payments on the conversion date of 16 January 2026 will be the average exchange rate of the National Bank of Georgia for the period of 12 January 2026 to and including of 16 January 2026 (5 days average).

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Bochorishvili claimed that Ukraine displayed a “negative attitude” toward Georgia’s candidate status and cited Ukrainian opposition between 2022 and 2023 campaigns as evidence that Ukraine allegedly hindered Georgia’s European integration.In response, Ukrainian Foreign Minister Andrii Sibiga rejected these claims, stating that the obstacles to Georgia’s EU accession are entirely the responsibility of Tbilisi. He emphasized Ukraine’s continued support for Georgia’s European aspirations, writing, “All the reasons for the bad results of Georgia’s accession to the EU lie in Tbilisi, not in Kiev.”Sibiga added that Ukraine wishes only for Georgia to achieve its European goals, stressing that Georgia is aligned with Europe rather than the “Russian world,” directly countering Bochorishvili’s allegations.

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His comments come in response to a statement from the Alliance of Liberals and Democrats for Europe (ALDE), which warns that Georgia is edging closer to full autocracy under the rule of the Georgian Dream.“Even by Georgian Dream standards, the regime’s new politically motivated charges against opposition leaders are appalling. This sick behaviour mirrors the tactics of their patrons in Moscow and Beijing. The anti-American Georgian Dream regime is betraying its people in favour of Moscow, Tehran & Beijing,” Rep Joe Wilson wrote. Even by Georgian Dream standards, the regime’s new politically motivated charges against opposition leaders are appalling. This sick behavior mirrors the tactics of their patrons in Moscow and Beijing. The anti-American Georgian Dream regime is betraying its people in favor of… https://t.co/yAMmjMoP8p — Joe Wilson (@RepJoeWilson) November 6, 2025 For context, criminal proceedings have been initiated against Mikheil Saakashvili, Giorgi Vashadze, Nika Gvaramia, Nikanor Melia, Zurab Japaridze, Elene Khoshtaria, Mamuka Khazaradze, and Badri Japaridze.

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