Business & Economy

Citizens of Armenia will soon witness the heated up political struggle during this extremely hot summer. Whereas the visible pre-election campaign, the so-called PR demonstrations (concerts, meetings, press interviews, etc.) are just starting, the invisible, or so-called “closed” electoral techniques have become a custom in Armenia. One of these techniques is, for example, the announcement …

“Kavkazpress” writes that, according to the ministry of finance and economy of Georgia, Georgia has a huge debt to pay to Armenia worth 18.134.000 dollars. Georgia also has huge debts to pay to Azerbaijan worth 16 million dollars, Iran -12 million and Turkey -55 million. The total amount of debts that Georgia owes to 16 …

Deputy head of the “GazProm” company’s administrative staff Alexander Ryazanov said that “Gazprom” wants to purchase the Iran-Armenia gas pipeline during the company’s annual meeting on June 30. Ryazanov said that the goal of purchasing the pipeline is the necessity to raise the level of gas supply in Armenia because the exchange of gas from …

According to our information, Conversebank, which is one of the most well-known banks in Armenia, is going through hard times. According to our information, the Central Bank is checking up on this bank to find violations. Our correspondent asked the executive director of Conversebank, Smbat Nasibyan whether the CB wanted to change its approach to …

“We are in the transitional phase now, sometimes we make mistakes and sometimes we learn from the mistakes of others. The Armenian banking system is new and is still very small to play a key role in Armenian economy”, said general director of Conversebank, Smbat Nasibyan during our conversation concerning the Armenian banking system. Usually …

The tax/GDP proportion mark in Armenia is very low; furthermore, it is lower than that in Georgia and Azerbaijan. Recently, RA minister of economy Vardan Khachatryan said that the economy was growing rapidly and the taxation services were not able to develop in parallel to that growth. In this case, the situation is different: if …

The Italian “La Repubblica” has published very interesting information concerning drug trafficking. The national research center of Pisa has conducted research to find out how much money Italian people spend on drugs annually. According to their calculations, Italian people spend over 8 billion Euro on drugs, 4 million out of which is spent on cocaine, …

According to “Francepress” news agency, the Greek price regulation commission penalized the Greek OTE company for 2,5 million Euro for failing to provide information about their price regulation policy.

After our editions dedicated to the downfall of the USD exchange rate, readers called us and said that this not only concerned the USD, but also the Euro. Some of them said that the Central Bank of Armenia is not to blame because it partly depends on the USD-Euro exchange rates as well. In fact, …

These days, many people are talking about the development of Armenia’s banking system and the need to have Armenian economy play an even major role. Citizens who lost their deposits made during the Soviet Union and saw well-known banks (“Mercury Enterprise”, JMJET”, etc) and private banks go bankrupt needed time to get back to trusting …