Business & Economy

This year the production capacity of jewelry and gold production has also gone down in Armenia. During these 10 months, the mentioned fields have fallen down by 19,7 and 17,6 % accordingly compared to the same period of the previous year. In parallel to that, the number of job spots was reduced by 300 vacancies. …

The Public Services Regulatory Commission refuted the offer made by “ArmenTel” to raise prices for telephone and Internet services. Back in September, “ArmenTel” had offered the commission to raise the fixed telephone fee and the Internet fee per minute. “ArmenTel” had applied to the commission, suggesting raising the monthly 1100 dram fee to 3,000 drams …

During a business summit in the trade and economic chamber of France on November 21 the Minister of Transportation of France, Dominique Perba said that France might participate in the competition for the “Armenian Railways” CJSC concession contract if the Armenian government organizes tender. The minister also said that the Armenian railways need to be …

“Vimpel Com” company doesn’t exclude the possibility that it might subsequently involve a local company for the sake of further development of the company. This information was publicized by the executive deputy-director, Nikolay Pryanishnikov. He said that during 2007 the company will clarify its strategy of development beyond the limits of CIS. At present the …

A Russian private investment fond – “BasEl” has almost completely purchased the international airport of Sochi at about 206.6 million USD. This is the airport, when on May 3 of this year, Armenian A-320 airport crashed on the way, in the result of which 113 people died on board. Based on the July 3 government …

The 70,054% of the stocks of the social trade bank of Murmansk used to belong to an Armenian businessman, head of the Armenians’ Union in Murmansk, Artur Harutyunyan, who was murdered days ago. The rest of the stocks belong to the government. At present the package of Harutyunyan’s stocks are being sold. Let’s recall that …

It turns out that the Central Bank of Armenia has essentially reduced the burden of the activity of the State Tax Bureau. From now on the STB doesn’t have to bother with supervising certain enterprises. They are guaranteed by the CB and don’t need to be inspected. We found this out on November 21. It’s …

CNN has been broadcasting advertisements about Armenia since September 2006. According to the Deputy Minister of Trade and Economic Development of Armenia Ara Petrosyan, the clips intend to present Armenia and spread the word about tourism in Armenia. Each broadcast costs nearly 1000 dollars. There is an agreement with CNN to broadcast those clips 400 …

On November 21, adviser to Minster K. Tchshmarityan Meruzhan Hakobyan announced that there is an overall decline in industry. The adviser brought up reasons such as the rise and fall of the national currency, the decrease in exports and the lack of competition of Armenian products in the foreign market due to the high prices. …

According to Extraordinary and Plenipotentiary Ambassador of Belarus to Armenia Oleg Yesayan, the economic relations between Armenia and Belarus have been growing considerably during the past couple of years. “Whereas the circulation of products in both countries in 2000 was less than 2 million dollars, in 2005 it made up 14.5 million. As for this …