Business & Economy

Vahan Melkonyan, the head of “Nairit” company Board of Directors, who is also the representative of the CIS intergovernmental bank in Armenia, is in Armenia now. Yesterday the board of directors of this company visited the plant. Following that visit, Mr. Melkonyan fired the director of Nairit company, Karen Israyelyan, saying that he harmed the …

In our last edition about Nairit Factory, we mentioned that the head of the foreign relations of the CIS intergovernmental bank, Tatyana Serbkova, promised to give an interview to 168-Zham newspaper. Let’s mention that starting from 2006, the new owner of Nairit Factory has been Rainovil property Limited, which has complied with its responsibilities in …

Last week the government decided to make some changes concerning the fixed tax in the tax law. Particularly, the government suggests to tax 1815 AMD per square meter for using areas up to 7 square meters in trade fairs. What does this mean? Despite the mentioned proposed amendments, the fair markets pay such fixed taxes, …

“Armenian railway” CJSC is very often being audited and examined by different governmental bodies such as the taxation department, the finance ministry, public prosecutor’s office and the president’s control department. This company is the last Mohican, that is, state owned company, and we can surely say that next year these governmental bodies will not have …

Five foreign banks have expressed the desire to implement activity in Armenia in 2007. This is what head of the Central Bank, Tigran Sargsyan, said on Monday. Those banks are the Dutch “PostBank”, the Russian “GazPromBank”, the German “ProCredit”, the Lebanese “Biblos” and Austrian “Raifaizen”. “We have also received proposals from Armenian businessmen who wish …

“I think it is high time for banks under the administration of the Central Bank to think that perhaps it is necessary to choose any small- or medium-size city in Armenia, for example Dilijan, and turn it into a financial center. The current banking system allows creating such a center. That will also help the …

The fact that the Caucasus-Poti ferryboat isn’t operating is like a strange dream for Armenia that can’t be understood. It is worth mentioning that before the parliamentary elections the issue was introduced by the government as something that was already a reality, and they said that there were only several technical problems to solve before …

There are several big trade centers of gold in Yerevan. The most famous ones among them are “Vagharsh and sons” Ltd, Malatya market, Tashir trade center, and Yerevan trade fair. Pursuant to the new law on precious metals, all products in the gold market are subject to a new Armenian trademark. To note, before this …

The wavering of the USD rate has become a regular thing for us. And the interpretation and commenting on the wavering has become either boring or exhilarating for those questioned about the rate fluctuations. Last week the USD was devalued by 5 AMD, and this year the rate reached 348 AMD per USD. Yesterday we …

The Millennium Challenge Account – Armenia (MCA-Armenia), a state non-commercial organization established by the Armenian government to oversee the implementation of a multimillion U.S. aid package, opened its new office in Yerevan yesterday. It is located near the government building of Armenia and Republican Party headquarters. Ambassador John Danilovich, the Chief Executive Officer of the …