Business & Economy

The Minister of Ecology of Armenia Vartan Ayvazyan and the gold extracting/researching companies are not getting along that well. There are currently two companies-the “Ararat Gold Extraction Company” (AGEC) and “Global Gold Mining” (GGM). First Ayvazyan, as head of the supervising committee, announced that the companies had gone beyond their limits and hadn’t fulfilled some …

The RA state taxation body has made a lst of 457 Armenian companies that lost 1 million AMD in 2005. The Water Supply Company of Yerevan is at the top of the list-it lost 17.256 million dram ($41 million). The taxation committee also compiled a list of companies with good incomes too and the Zangezur …

Based on the report on Armenia, the International Monetary Foundation recommends that the Armenian government make the taxation services and customs committee work together and hand them over to the Ministry of Economy of Armenia. According to the deputy head of the taxation services, Armen Alaverdyan, the taxation services and customs committee do their job …

When the Sukiasyan family (SIL concern) and former Prime Minister of Armenia Armen Sargsyan applied to purchase the ArmenTel stock, citizens of Armenia assumed that they had minimum chances. Throughout the years, it has been proven that businesses of strategic importance are not sold to Armenians. The OTE company, which owns 90% of Armentel’s stocks …

The answer to this question is that it’s impossible to get precise information because most of the businesses are shady. Even though the parliament is discussing a bill according to which physical persons must register their income, it will still be very difficult to assess people’s property even after the adoption of the law. Many …

The International Monetary Foundation (IMF) has made a very interesting recommendation in its report on Armenia called “Growth and poverty reduction in Armenia”. IMF recommends the Armenian government to remove its two separate taxation bodies (State Taxation services (STS) and Customs Committee (CC)) and have the Ministry of Economy control the two. According to IMF, …

The dollar continues going “up one and down two” while citizens of Armenia keep talking about the dollar-dram exchange rates. After parliamentarians offended head of the Central Bank Tigran Sargsyan at the National Assembly, the “floating” dollar stopped going down for a moment, went up a little, and after seeing that Tigran Sargsyan can get …

During a press conference a week ago, Vartan Ayvazyan had spoken rather harshly about the “Ararat Gold Extraction Company” (AGEC) and the “Global Gold” company. The minister accused AGEC of hiding a ton of gold, not making the payments for using the area, using too much cyan and other violations. According to the minister, the …

The national statistics service has already informed about the official economic growth marks of January-May, which covers 10.5%. Before that, the statistical service had published the official inflation rate, which covered 5.7%. Currently, prices have gone up for more than 70 items, compared to the previous 400.

The Georgian market is full of Armenian eggs. According to “Kovkazpress” news agency, Georgian local producers have gone bankrupt because the Georgian government didn’t reimburse the losses they had after the bird flu period in February-March. This agency states that the Armenian government has received financial aid from the World Bank ($6.25 million) and helped …