Business & Economy

In our previous edition, we wrote that a Russian company was interested in buying the stocks belonging to “Armentel”. We also wrote that this company would probably be “MTC” because they had received $112 million from the World Bank to broaden their coverage in the CIS territory. Vladimir Evtushenkov, who is a stock holder of …

The first oil-cargo ship carrying Azeri oil moved from the Jeyhan harbor on June 4. This was announced on “Haber Turk” TV channel by the program manager of “BOTA BTC” company, Heckman Chelagoli. The British ship called “The British Hawthame” belongs to British “Catoni” company. The oil-carrying ship, which weighs 85.000 tons, will move to …

The “Fitch” international reputation organization has given Armenia a “BB” category. According to this organization, this means that Armenia is in the category of countries that are vulnerable and have a low level of financial stability. This organization writes that in spite of the economical growth in 2005, the GDP per capita in Armenia still …

In 1998, an Indian company bought 50% of the Ararat gold mines and established the “Ararat Gold Extraction Company”, along with the “ArmGold” state-owned and “First Dynasty Mines Armenia” (FDMA) companies. In 2000, FDMA took control of the Sterlite company, which was registered in the stock exchange market of Toronto, Canada. In 2002, the Indian …

According to panarmenian.net, the Indian “Economic Times” newspaper has written that Indian “Vedanta Resources” company is interested in Armenian gold production and is going to enter the Armenian market. This is the biggest gold producing company in India. The reason that “Vedanta Resources” is interested in Armenia is the fact that the prices for gold …

The recent resignation of the RA NA speaker and the events that followed mixed things up at the parliament. Some of the discussed bills that were brought to the parliament in that period should have been paid attention to. I mean one of the drafts concerning excise tax. The ULP faction proposed a bill, according …

The interest rates that banks offer for deposits in AMD are 1% more than they offer for other currencies. If it were a law requirement or regulated by the Central Bank, we would understand that. So why do banks want to recruit more AMD? According to specialists, this is an indirect requirement by the CB, …

Starting from July 1, 2006, the Republic of Armenia will no longer import cars that don’t have neutralizers for exhaustions. It’s obvious that this resolution was made for ecological purposes. But does Armenia really need such a resolution now? Before moving on, allow me to state a couple of facts. Almost all foreign cars are …

This time, the Sukiasyan family has taken on the initiative of building the center and not the Russians. SIL concern has signed a ten-year contract with the International Financing Corporation with the purpose of reopening the “Ayrarat” cinema house. According to the executive director of the concern, Arman Zargaryan, they are going to build a …

According to the head of the Russian Banks Association, Garegin Tosunyan, the responsibilities of the Central Bank should be divided between emission, control bodies and the other body occupied in regulatory activities, i.e. licensing, management of exchange rates, etc. Otherwise, according to him, we get a paradox, where the same body issues currency, functions in …