Business & Economy

The season of storing grapes has started already and the brandy, wine and champagne producers one by one announce how much raw material they are going to accept this year. The first one is as always the Brandy Factory of Yerevan (BFY), which has started storing since September 15 and is planning to buy 28.000 …

When speaking to journalists last week Gagik Abrahamyan, director of the British-registered Diamond Company of Armenia (DCA) and president of the International Association of Armenian Jewelers, said the measure excluding sharp fluctuations of the rate and further appreciation of the national currency will make the market situation more predictable for exporters. According to Abrahamyan, exporting …

Yesterday at Armenia Marriot Hotel the “wedding ceremony” of the second telephone operator of Armenia, “Viva Cell” took place. It’s been several months since the rumors of this “wedding” have been circulating in Armenia, however none of the parties has said anything concrete. Thus the bridal ceremony was postponed for months. Thus the delegation of …

Months go during the government session Prime Minister Serzh Sargsyan offered the cabinet to start to think about unloading Yerevan as a center and expressed an opinion that Dilijan town may be re-built into the Financial Center of Armenia. According to our information during the coming 4 years several banks, including the Central Bank of …

The government decision of increasing the pensions by 60% in 2008 has caused panic among businessmen. There are rumors that the government is planning to increase the social payments in order to afford the increase of pensions. The amount of the social payments was last increased in 2005 when they were increased from 5000 to …

As we have informed, the Gazprombank is planning to access the Armenian banking system by purchasing a bank in Armenia. The vice president of Gazprombank Olga Kazanskaya said that Gazprombank is currently occupied by legal preparations of the transaction. It’s expected that Gazprombank will be a universal bank and will offer different services. Let us …

The RA prime minister Serzh Sargsyan has issued an order to check the technical characteristics of 4.261 elevators in Yerevan. The mayor of Yerevan, Yervand Zakharyan has presented their findings, according to which 354 elevators are fully out of order, 2.464 ones have to be repaired and 38 ones have to be replaced. Yesterday during …

Yesterday “ArmRusgazard” (ARG) company was celebrating the 10th anniversary of its foundation. By the way, the celebration was rather big. Certainly, the company can be proud of its success. First of all, it is the first biggest taxpayer of Armenia. Notwithstanding any critics addressed to it the company has increased the level of gasification from …

Yesterday it was the official ceremony of opening a factory owned by “DG Arms Corporation”. This company has reconstructed three production lines, due to which the company is able to produce bullets now. In addition, the tool production department has been reconstructed and renovated too, which will provide the supply of the necessary tools. Answering …

HayPost CJSC continues the series of its explorations. During the internal inspections of the company about 2 billion AMD irregularities were found out (gas purchase, vehicle repair and service). HayPost" CJSC (Armenian Post), managed by "HayPost Trust Management" CJSC Dutch Company since the end of November, 2006, accused RA Transport and Communication Ministry of aiding …