Business & Economy

On July 26, RA trade and economy development minister Karen Chshmarityan said that the Ararat gold company was looking for a new territory not far from Sevan because the RA government had refused to give them a territory close to the lake due to some ecological problems. He said that the mentioned company had some …

Recently, the National Statistics Service of Armenia came out with the basic macroeconomic standards in Armenia depicting the social/economic status during the first trimester of this year. The most interesting of all is the entire surface area of the constructed, residential buildings and it has grown by 58.4% during the given time. In fact, that …

Based on the World Bank sources, the level of corruption in transitional countries has gone down during 2002-2005, however, the World Bank also reports that Armenian companies have continued giving bribes. The World Bank report on Armenian companies based on surveys is entitled “The fight against corruption in transitional countries-Who has achieved and why?” (FACTC-3). …

The State Statistical Service has registered a decrease in diamond production in Armenia recently. According to “Noyan Tapan”, the head of “DCA” company board, Gagik Abrahamyan has said that the fall of diamond production is due to the international diamond market crisis. He said that he hoped it would not last long. He didn’t go …

One can read interesting announcements in the Armenian “Gind” classified ads weekly such as “We are giving credits with a 6% interest rate if you have real estate to leave as a deposit”, “We can provide business credits if you have real estate to leave as deposit”, etc. There are physical persons who offer long-term …

Last week, the RA National Statistical Service (NSS) came out with a list describing the social-economical situation of micro-economical factors, where it was written that during the course of January-June 2006, Armenian economy had grown by 11.8% compared to the same period last year. However, the NSS wasn’t able to register a growth rate for …

According to a source, the Russian “Sistema” company will get the fixed “ArmenTel” telecommunications network, while the Armenian-Indian consortium headed by Armenian MP Khachatur Sukiasyan and former prime minister of Armenia Armen Sargsyan will have control over the mobile phones network. The “Sistema” company neither denied nor confirmed this information, however it did state that …

There are rumors saying that Armenia is negotiating with Russia, as a result of which it may give its “ArmenTel” stocks to Russia instead of the stocks of “Mars” factory. Recently RA Prime Minister Andranik Margaryan gave an interview to “Regnum”, where he said that the Russian minister of transportation discussed issues during his visit …

The RA Public Services Regulatory Commission has made a decision to allow the owner of the energy distribution networks of Armenia, “Midland Resources” company to sell energetic distribution networks to “Interenergo” company, which is a part of the Russian RAO EES company. According to “ARKA”, member of the mentioned commission, Samvel Arabajyan said that the …

The most boring occupation in Armenia is probably reading governmental documents and statements. Last week I did that twice. First, I read the RA law on income tax. Second, I read the list of companies that paid over 3 million AMD worth in taxes in 2005. The list was published by “Republic of Armenia” newspaper …