Business & Economy

In this new list there are some companies that have increased their marks rapidly. Last year the biggest tax payer was the copper and molybdenum factory of Zangezur, which paid 980.394.000 dram tax. “Armentel” is in the second place in both these lists. As for third place, the situation is very interesting here: this time …

During the time when the RA Minister of Finances Vardan Khachatryan was answering to the journalists’ questions and after giving a report to the Prime Minister, we became very optimistic about poverty reduction. “The level of poverty has reduced by 3.9% and amounted to 39%”, the report reads. However, when we compare those figures with …

In 2005, the Ministry of Finances and Economy has provided 18 licenses for casino games and 4 for casinos. Eleven casino games, six casinos and 2 lotteries have lost their licenses. Last year, the money from the casino games, casinos and lotteries was handed over to the state budget and all put together equals the …

In 2005, the “Clean Metal” company increased its levels of iron molybdenum production and export by 58%. It has reached 1900 tons. According to the owner of the company Genik Karapetyan, 99% of the company’s product has been exported to Europe last year. The company has sold 64 billion drams worth of products in contrast …

After the gas pipe line explosion, everyone is watching news broadcasts and trying to find something new about the latest developments. It is worth to mention that the news agencies didn’t make people get disappointed and starting from January 22 they are periodically informing people. It is strange that the information the news agencies give …

In 2005 the “Ararat Gold Recovery Company” (AGRC) reproduced 1.4 tons of gold compared to 2.1 tons in 2004. The owner of the company, Vardan Vardanyan informed us about this. According to him, the majority of gold recovery was done with the Sodk mine. A small amount of gold was recovered in Meghradzor mine and …

According to preliminary data, during the year 2005, Armenia’s diamond reproduction amounted to 113.583 billion AMD ($248.5 million) instead of 115.185 million AMD in 2004. This was informed by the head of the Gem and Gold reproduction Department of the RA Ministry of Trade and Economic Development Gagik Mkrtchyan. According to him, the reason of …

On January 19th, the World Bank ratified the second $20 million loan to Armenia and the framework of “Support to Reduce Poverty” (SRP). It is based on the institutional reforms and policies of the strategic program of poverty reduction by the government. The loan will be given to Armenia to be paid back within 40-years …

Indeed, there might be different estimations, criticisms about the functioning of the RA TB, on the other hand, the tax sphere is one of the few sectors that carried out its functions appropriately. Thus, instead of the planned tax inflow of 173.6 billion AMD the TB has collected 173.714 billion AMD. According to the report, …

First the increase of the water fee was discreetly announced. This became clear far before December 14, 2005. This was when the French company, “General Dez O” signed a contract with the RA government according to which, they are supposed to provide water to Yerevan and 30 neighboring villages for 10 years. Thus, they have …