Business & Economy

In the beginning of the 2000s, the “Elinet” company was founded and was involved in the trafficking of phone lines. Edward Madatyan received his share of the company starting from the first day as Minister of Communications and Transportation. Later, the share-holding went on to Vice Minister of Communications and Transportation Hayk Tchshmarityan, who is …

The “Sevan” hotel building was bought by Vache Manukyan from England in 1995. It is being totally demolished and after reconstruction it will not longer be a hotel. Instead of a hotel, there will be an administrative building where different organizations may rent parts of the building and make their own offices. According to details, …

Market relations Recently, many people are spreading the rumor that resellers do not let the villager penetrate the market to sell his product. The resellers claim that the reason that the produce from the village is expensive is because they want to receive a very large profit. “168 hours” weekly tried to find out who …

During the past two years, many projects have been implemented by Armenia’s investment fund for social services, among many the remodeling of 104 schools in Armenia. Despite that, however, construction on one building of the #200 school in Davtashen remained incomplete. The chief administrator of the city council’s education department Onik Vatyan informed “168 hours” …

When there is any conversation about Russian-Armenian economic relations, the authorities always announce that political relations are better than the economic relations and that we must do everything we can to make the two more intimate. Armenia “grants” strategically important factories to Russia, it hands over a large part of the electric power stations, but …

Foreign Minister of Armenia Vartan Oskanyan announced recently that the closing of borders can not hurt Armenia’s economy and that Armenia can develop on its own for even 100 years without opening any border. National Assembly deputy and businessman Khachatur Sukyasyan contradicted Oskanyan by saying: “No country can progress on its own without the help …

The Ministry of Transportation and Communications received a message yesterday which affirmed that there had been a decision made to open the border coming to Armenia as a result of the successful negotiations between Kocharyan and Putin. However, these “high level” negotiations had no result. The cargo vehicles are still on the border and according …

Many of the Armenians living in the Armenian villages of the Ochamchir region of Abkhazia are not able to see their relatives in Armenia. Due to the Armenia-Abkhazia conflict which started in 1992, it is dangerous for the Abkhazian-Armenians to pass through Georgia into Armenia. Few dare to pass the Georgian-Abkhazian “Inguri” border patrol. Fewer …

Everyone in Armenia is talking about stimulating local production. The state officials in that field are the ones who talk about it the most. However, in many cases the conversations of stimulating local production are just announcements. In this field, the absence of a politics as a whole brings us to the conclusion that many …

One of the former biggest factories of Yerevan was the “Vegetable oil-Soap-Margarine” industrial complex. The products of the factory have now been substituted by imports. In the domestic market, the products in this field of economy are received by imports. Perhaps the reason for the closing of the industrial complex is that in case it …