Business & Economy

Yesterday the World Bank approved the four credit program package worth $85 million aimed at helping Armenia to overcome the aftermath of the global crisis. Besides that another grant project was approved, which anticipates to help Armenia diversify its energetic resources. The latter is aimed at conducting land exploration of Gridzor and Karkar areas of …

An old Soviet joke was telling that in the 80s when the train swiftly moving to communism stopped the Soviet government ordered the people to continue shaking and rattle like they were still in the train. By doing that they were creating an impression that the train is still rushing to bright future. Our government …

When the crisis started people were discussing the possible impact on the economy, and the government assured people that it would not be serious. Even more, the government advised not to discuss that issue at all. However, it was easy to guess that time would come and they would discuss that issue in order to …

The number of deals in the real estate market has fallen, the prices of apartments are falling down, it is expected that the prices will continue falling, currently the market is in stabile hard situation. These are the answers of real estate brokers concerning the current situation in the real estate market. “Buyers and sellers …

Yesterday the employees of the Copper-Molybdenum factory sent out an informative letter, which read that their last working day is March 9. The PR officer of the owner company of the factory GeoProMining Ruzanna Grigoryan informed that the number of the employees, who received informative letters, is being summed up and the exact number will …

All forecasts concerning Armenia’s economy degradation are reality. Such announcement was made by economist Andranik Tevanyan during yesterday’s press conference. He says that the illusion of the economic stability is a result of the fact that the national currency is keeping stabile, which provides short-term stability, but in the mid-term and long-term context it reminds …

Following the recent auction organized by the justice ministry department of mandatory fulfillment of judicial acts the general director of Bjni company came up with announcement. Read Mr. Harutyunyan’s full announcement below: “We have learnt from electronic media that the properties of Bjni company (hereinafter referred to as the company) have been sold at auction. …

Recently the mayor of Kapan city Artur Atayan met with the director of the copper-molybdenum factory of Kapan, who told that the factory might close down in the near future. “Starting from February 19 the operation of the factory will be suspended. According to the director’s words, if the prices of metals don’t grow significantly, …

As a result of metal price fall in the international market the companies of Valex group are faced with economic difficulties. Armenpress news agency has been informed by the press services of Valex group that Armenia Copper Program CJSC had to close the mine and mine enrichment project in Alaverdi, which was not profitable even …

Trade banks forecast that in March 2009 the Armenian dram will devaluate and the AMD-USD exchange rate will become about 320. Such forecast was written in the CB’s report entitled Banks and Credit Organizations Quarterly Research Resume for the Fourth Quarter of 2008 published recently. To note, according to the information of trade banks in …