Business & Economy

The Russian “Comstar-OTS” company has purchased the Armenian “Colnet / Cornet” company. The public affairs department of the “Comstar-OTS” has confirmed this information. The mentioned Russian company has purchased 75+1% of the “Colnet” fixed capital. As for the “Conet”, it fully belongs to “Colnet” and is experienced in providing Internet services with improved IP technologies, …

There has been no information about the potential owners of the shares of Mikhaiil Baghdasarov ever since he decided to sell 30% of his share to “ArmSavingsBank”. Will the Russian “VTB” (Vneshtorgbank) bank agree to buy the stocks of the VTB-Armenia and become the only Russian trade bank with 100% Russian capital? If not, the …

The board of directors of “Gazprom” company made a decision to purchase the extra stocks issued by “ArmRosGazard” CJSC. By buying the stocks of “ArmRosGazard” CJSC, “Gazprom” will increase its fixed capital proportion in “ArmRosGazard” CJSC from 45% to 58%. Currently “Gazprom” owns 45% in “ArmRosGazard” CJSC, the Armenian government owns 45%, and the remaining …

Several days ago, during the parliamentary discussions on the currency exchange rate changes, head of the Central Bank Tigran Sargsyan asked whether the prices for energy resources were justified. Particularly, the current rate for gas has been fixed on the basis of a higher USD exchange rate. “ArmRusGazard” company buys gas in dollars, but sells …

On October 27, the Russian “Vneshtorgbank” presented its brand (VTB) in Armenia/Marriott hotel. According to elder deputy president of the bank, Vasili Titov, “Changing the brand of the VTB was strategic for them” since all of the branches of the bank will have the same brand (in Africa, Europe and Asia). All the branches of …

By reading this list and comparing it to the previous ones, we can make comparisons and image what the businesses and taxation bodies actually do. During the past five years, Armenian economy has been growing at a double-digit rate We wonder whether in parallel to that double-digit economic growth, tax collection has also grown at …

The Armenian Economic Competition Defense Commission held a session on October 25 during which the members talked about issues concerning the punishments for the businessmen who disobey the laws. With the decision of the commission, the businessmen of the “I. Harutyunyan”, “Isarme” and “Arspi” companies have been fined 500,000 drams for not providing required information …

In our previous editions, we mentioned that a large French cement producing company, “Lafarge”, is interested in the Armenian cement production and is going to buy the two Armenian cement producing companies: “Ararat” cement-producing company belonging to Gagik Tsarukyan and “Mika cement” owned by Mikhail Baghdasarov. According to our information, “Lafarge” is currently negotiating with …

According to the information of the Armenian national statistic services (NSS), Armenian economy has grown by 12.5% through the course of the January and September. As for the monthly growth, it is more and the growth mark of September compared to August covers 26.3%. Statisticians say that September was progressive for production too (4.2% growth). …

This is just how the customs services consider the issue of the “Royal Armenia” coffee company. The customs department has confiscated 100 tons of green coffee imported by the mentioned company and doesn’t let them import that product in Armenia. The lawyer of “Royal Armenia” company, Gevorg Minasyan says that this was ordered by the …