Armenia Diaspora Conference Official Site

Business News Archive	2006
December
Armenian Economy Continues Double-Digit Growth Iran and Armenia to Build Hydro Power Plant on Araks River British-Based Company Pledges To Revive Armenia's Biggest Chemical Plant ArmRosgazprom to Exercise Iran-Armenia Gas Pipeline Exploitation Armenia's Economic Growth Totals 13.2% In January-November 2006 Iran-Armenia Gas Pipeline to Function on March 2007 Armentel Gives Up Two Of Its Monopolies Armenian Hytex Plastic And Coca Cola Bottler's Georgia Sign Cooperation Memorandum Alaverdi-2 Power Sub-Station Joins Power Grid After Major Repair VympelCom Planning To Increase Number Of Its Subscribers By One Million EBRD Forecasts 8.5% Growth Of Armenian Economy In 2007 EBRD To Double Its Investments In Armenia Kocharian Again Slams Armenian Tax Collection Russian Gas Price For Armenia Not To Change Until 2008 8,500 Armenian Goods Have Bar Codes Armenia Harvests 483,000 Tons Of Potato CBA Head: Armenia's National Security Strategy Pursues Forward-Looking Goals EBRD Gives Support To Armenian Inecobank
November
Russian Control Of Iran-Armenia Pipeline 'Not A Certainty' Armenian Taxmen Collect 173 Billion Drams Armenia's Foreign Gross Assets for 3rd Q 2006 Increase By 12.31% IMF Completes Third Review Under PRGF Arrangement For Armenia France Interested in Concession Management of Armenian Railways Central Bank Governor Says Government Eager To Crackdown On Shadow Economy VympelCom Going to Introduce Beeline Trademark in Armenia? Russia Steps Up Economic Presence In Armenia VympelCom and OTE Sealed Deal on ArmenTel Imported Foodstuff Must Have Armenian Language Marking Russian Operator Completes ArmenTel Takeover Real Estate Prices Go Up Millennium Challenge Corporation Approves 2007 Armenia Assistance Program New Company Gains Dominance In Local Sugar Market Rossiya Center Opens In Downtown Yerevan Exporters Fear Further Dram Upsurge VympelCom Going to Strengthen ArmenTel's Positions Armenia Reports 46 Percent Trade Growth with Turkey German-Owned Mining Giant Remains Armenia's Top Taxpayer A Stable Growth of Share of Deposits in AMD in the Whole Volume of Deposits Registered In Armenia More Details of Russian-Armenian Gas Deal Released
October
Gazprom Intends to Buy Iran-Armenia Gas Pipeline HayRusGazArd Eyes Iran-Armenia Gas Pipeline ArmenAl Operates At Full Capacity Government Signals Russian Control Of Iran-Armenia Pipeline Iranian Gas Delivery via Iran-Armenia Pipeline to Start December 20 International Trade Bank Armenia To Enter Mortgage Crediting Market Soon Armenian Foreign Trade Grows 12 Percent Armenian GDP Grows 12.5 Percent In Nine Months Government Approves Giving Armenian Post Company To A Dutch Firm President: Cooperation With World Bank Has Produced Significant Results For Armenian Economy's Development Base Metal Expands Production Volumes In Nagorno-Karabakh Grape Procurement 20,000 Tons Up From A Year Ago Inflation Rate To Jump To 5% In Armenia Armenian Railway Passed For 30-Year Concessional Management Virage Logic Armenia Branch Develops Steadily 2007 Draft Budget Projects Sizeable Growth of Subsidies to Health Sector OTE Denies ArmenTel Selling to Arab Consortium ArmenTel Became Owned by Arab Consortium According to Unofficial Reports IT Sector Impetus To Development Of Armenia's Other Economic Sectors Vice-President Of Alcatel: Armenia Has Great Potential In Software Development Armenian Government, Hewlett Packard Intend To Sign Cooperation Memorandum Soon AMD 74.7mln Transactions With Corporate Shares Effected On ARMEX In Sept 2006 German KfW Bank To Give 12 Million Credit To Boost Armenian Mortgage Market WB and IFC Rank Armenia 34 In Terms Of Business Doing Ease Armenia's State Budget Fulfilled For 65.1% For Incomes And 61% For Expenditures Russian Bank Likely To Become Owner Of 100 Percent Of Armenian Bank Shares
September
Cascade Credit Universal Credit Organization Issued Short-Term Debt Instruments The Proceeds Of Which Will Be Primarily Used For On-Lending To Quality Armenian Producers In Need Of Export Finance Armenian Foreign Trade Rises 11.5 % HSBC To Open Four New Branches WB: Armenia Should Follow Europe But Not CIS Example Concerning Its Economic Indices Diaspora Armenians Invest Less Than Expected Iranian Businessmen Look For Business Opportunities In Karabakh Armenia's GDP For Recent Five Years Averages 12.21% Tourism: An Increasingly Important Source Of Revenue For Armenia IMF: Armenian Shadow Economy Equals To 1/3 Of Real Economy, "But It Is Not Much" IMF: Armenia's Economic Growth Will Total 9%, Inflation - 4%, In 2007 California Trade Office In Yerevan Reaches Out To Investors Ameria Cjsc Implements An Employment Market Study In Armenia Luzhkov: "Yerevan" Trade Center To Open In Moscow In Near Future YBC Plans To Sell 80 Percent Of Brandy In Russia World Bank Issues Report On The Ease Of Doing Business In 175 Countries Deficit of Armenian Budget Totals More Than $14mln 65 Percent Of Foreign Companies In Armenia Linked With Its Diaspora More Than 10% Of Investments In Armenia Fall On Russia Armenia Expo 2006 To Be Held In Yerevan September 8-11 Armenia-Diaspora Economic Forum To Open September 20
August
Armenian Wines Can Win European Market Central Bank of Armenia raises annual REPO rate to 4.5% Iran-Armenia gas pipeline to become operational by December 11 Armenian Banks Acquire 11 Percent Stake In Arca Delegation Of Indian Jewelry Export Promotion Council To Travel To Yerevan Iran-Armenia Gas Pipeline Project Underway. World Bank To Carry Out Second Credit Program In Armenian Health Sphere In 2006-2008 Armenian CB Elaborates New Document To Regulate Exchange Offices' Work Today's Rise In Usd Exchange Rate On Armex Logical End Of Its Monthly Fall Government Reports Continued Growth In Tourism 75. 689 ArCa Plastic Cards In Circulation In Armenia Dollar's Exchange Rate Falls Below 400 Drams Armenia's 1,000 Largest Tax-Payers Pay Amd 136.7bln To State Budget In 1st Half Of 2006
July
Moody's Investors Service Vice-President: Armenian GDP Has Room For Further Growth Pepsi Plant To Be Built In Coming Two Years In Armenia Moody Assigns Armenia BA2 Rating ComNews: Results of Tender for ArmenTel Known Armenia Approves Sale Of Electricity Networks To Russia AMD Revaluation Creates Obstacles For Exporters EBRD, "Armenia - International Airports" To Sign Credit Agreement Banks.am Internet Project Presented in Yerevan Armenia International Airports To Receive Credit Amounting To 30 Mln Usd From Ebrd And Deg Armenian Company Won Tender for Building Electric Main between Georgia and Armenia Prices For Food Fall By 2.4% In June In Armenia EU Likely to Grant Armenia Status of State with Market Economy
June
Gazprom Sets Eyes On Iran-Armenia Pipeline 6.7% Increase In Labor Productivity Recorded In Armenia In 1st Quarter 2006 Armenian-Egyptian Business Forum to Be Held in Alexandria in 2007 Canadian Company To Search For Oil And Gas In Armenia Foreign Investments In First Quarter Up 57 Percent Restoration Of Abkhazia Railways Section To Take From 12 To 18 Months IFC To Acquire 10% Of Inecobank Shares Synopsis Armenia Invested 600 Million In Armenia Banks Must Be Locomotives Of Economic Development Beeline Claims for ArmetTel Stocks Henry Cuny: French University In Armenia Becomes Bridge Among French And Armenian Businessmen Vedanta Resources Indian Company Going to Attract Investments to Gold Mining in Armenia
May
Yerevan-Tbilisi-Batumi Rail Communication to Resume in June Georgia-Russia Railway Communication Restored after 13-Year Break More Than 3500 Companies With Foreign Capital Exist In Armenia Staff Manager Of Yerevan Brandy Company Hrant Bagratyan To Resign By The End Of June Armrosgasprom Has Invested $60mln Into Gas-Supply Network Installation In Armenia Since 2003 Armenian GDP Grows 9.7 Percent In Four Months Of 2006 Microsoft Opens Official Representative Office In Armenia Armenian Goldsmith and Diamond Sector Report Slump Armenian Converse Bank's Total Capital Increases By 6.2% And Amounts To AMD 9.5bln In 1st Quarter 2006 Iran and Armenia To Start Energy Barter Next Year
April
Prices For Internet Services To Fall By 10-15% On Average From May 1 In Armenia: Forecast OTE Does Not Disclose Details of Talks on Selling ArmenTel 1000 Armenian Biggest Taxpayers Transfer Over AMD 61.2bln To State Budget In 1st Q 2006 Trilateral Task Force To Discuss Abkhazian Railway Resumption Armenian Consumers Association Call upon Boycotting Turkish Goods Yerevan-Washington Videoconference "Armenia: Monetary And Financial Policy And Challenges" Opened Armenian-Georgian-Ajarian Business Forum to Be Held in Ajaria in May Armenia's Foreign Trade In First Quarter Makes $606 Million Tax Revenues Of Armenia's State Budget AMD 43.2bln In 1st Quarter 2006 President And Chief Taxman Discuss Crackdown On Shady And Fraudulent Deals Cyprus and Armenia Central Banks sign MOU Armenia Ranks 1st In World For Share Of Direct Foreign Investments In GDP "Jermaghbyur" Geothermal Power Plant Expected To Be Put Into Operation In Armenia In 2008-2009 EU Leader In Investments In Armenian Economy Gazprom And Armenia Sign 25-Year Agreement Business Development Center To Focus On Regional Entrepreneurship OTE May Sell ArmenTel Company World Bank Allocates $ 8 Million For Renewable Energy Project In Armenia
March
Energy Ministry Didn't Confirm Information on Conveyance of Iran-Armenia Gas Pipeline to Russia World Bank Gives Armenia Grant And Credit To Support Renewable Energy Project Millennium Challenges Corporation Signs Five Year $235 Million Compact With Armenia ACP Pledges To Invest $295 Million In Copper Mines "Gasprom" Expresses Willingness To Discuss Terms Of Signing Of The New Agreement With Armenia Operation Of VivaCell Company Example Of Successful Cooperation Between Armenia And Lebanon Kocharian Meets Bankers Armenian GDP Grows 7 Percent In January and February Georgian Ambassador Says His Country Interested In Resumption Of Kars-Gyumri Railroad Round-Table On The Theme Of "Armenia-India" Business Possibilities" Took Place In Yerevan On March 20 Ukraine Concludes WTO Talks With Armenia, Columbia 2006 Crucial Year For Mortgage Market Development In Armenia World Bank Says Gas Price Hike Not To Affect Strongly Armenian Economy Japanese Government Intends To Allocate $73thnd To $90thnd To Armenian Ngos In Grants AMD 67.5 Mln To Be Spent On Re-Equipment Of "Shirak" Airport In Armenia German Bank To Give Armenia Euro 8 Million Credit For Development Of Mortgage Market Government To Recalculate Budget After Gas Price Hike
February
Hayrusgazard Asks Commission To Raise Gas Prices Political Differences Hinder Armenian Electricity Export Our House Exhibition Opens In Yerevan Forbes Magazine: Armenia Most Attractive for Investment in CIS Bulk Of Job Ads Are For Manual Labor US-Armenian Task Force Discusses Reforms And Assistance Number Of Foreigners Visiting Armenia Increases By 25 % Every Year Armenian Government, Central Bank See Zero Inflation In 2005 Rail Communication between Armenia and Iran May Be Restored US Ambassador, USAID Director Meet Armenian Prime Minister To Discuss Assistance Issues Armenia, Russia to complete gas price talks soon - Armenian PM Armenian Food Products in Gulfood 2006 Trade Show 20 Million Drams To Be Invested In Zangezour Plant US Warns Armenia Not To Exceed The Limit Of Investing In Iran Armenia's Foreign Trade in 2005 Amounts to $2. 718 Billion "Armentel" Turns To Subscribers Tehran Interested In Construction Of Second Branch Of Armenia-Iran Gas Pipe Line
January
Iran, Armenia To Further Promote Energy And Trade Ties EIF To Continue Assisting IT Companies Russian Gas To Reach Armenia At 8 Pm WB to Allocate Armenia $20 Million Credit within Poverty Reduction Program Snow To Continue Falling Next Five Days Nairit Plans To Increase Rubber Production U.S. Set To Release Promised Extra Aid To Armenia Gas Pipeline Restoration Works Temporarily Ceased Information on Transferring of 45% Stake in Iran-Armenia Gas Pipeline to Russia Not True Gas From Iran To Break GAZPROM's Monopoly In Armenia Armenian Foreign Trade Grew 35 Percent Primary Healthcare Budget To Be Increased In 2006 Iran-Armenian gas pipeline and 5th unit of Hrazdan TPP: the Armenian Energy Ministry's report No Need For Armenia To Bond In Near 2-3 Years Oskanian Downplays Repercussions Of Higher Russian Gas Price Armenia Starts Selling Quotas In The Framework Of Kyoto Protocol Armenian Foreign Currency Reserves Gain In 2005 Armenia To Take Part In Two TRACECA-Led Projects Worth 7.5 Million Euros In 2006-2007 Russia's Natural Gas Supplies to Armenia up 26.5% in 2005 Cascade Bank, CJSC, finalizes acquisition of Emporiki Bank - Georgia S.A. First Indian Tractors Arrive In Armenia ANCA welcomes continued improvement in Armenia's economic freedom ranking
Business News Archive	2005
December
Despite Price Hike Natural Gas Operator Firm To Expand The Network Central Bank Heralds Good News Central Bank Of Armenia Published Index PF Economical Activity MCA Approves $236 Million Grant To Armenia ArmStat Reports 13.5 Percent GDP Growth In 11 Months Of 2005 Commodity Exchange Sells 40 Kg Of Gold In Two Months Armenian Company To Certify The Origin Of Italy-Made Shoes Japanese Government To Provide 34 Mln-Dollar Credit For Repairs Of 33 Substations In Armenia Project of Building Hrazdan Thermal Power Plant 5th Block Launched BP Pledges Assistance For South Caucasian Economic School Russian Metals Giant RusAl Launches Aluminium Foil Production in Armenia IMF Releases Book On Armenia's Economic Transformation In Last 10 Years Armenian Mining Industry Set To Report Significant Growth This Year UNDP To Promote Economic Development Of Armenia's Regions, Communities In 2006
November
Belgium-Armenia Commerce Chamber Set Up Armenia Was Not Informed About Rise In Gas Prices Armenia's GDP up 12.2% in 10 M 05 Glass World Company To Be Commissioned In Early 2006 Tax Amnesty Declared For Individual Businessmen In Armenia Agreement On Construction Of Thermal Power Plant In Nubarashen Dump To Be Signed Soon Armenian Grapes In Brazil Commodity Turnover Between Armenia, Slovenia 2005 Recorded At $2122.5 Thousand In Jan-Sept Alcatel To Open Center In Armenia RA Prime-Minister: Armenian Government To Welcome Intel Company In Armenia OTE Remains Main Obstacle to Internet Development in Armenia ArmenAl to Resume Operation on December 2 IMF Approves Us $4.7 Million Disbursement For Armenia Armenian Delegation Familiarized With Iran-Armenia Gas Pipeline Construction Works Armenia Parliament Passes 2006 Budget "Armentel" CJSC To Work Out Tariff For Internet-Providers Construction of New NPP to Cost Armenia $600-800 Million Armenian And Latvian Businessmen Sign Agreements CBA Grants The Armenian Stock Exchange A License For Organizing Auctions On Purchase And Sale Of Currency Two New E-Commerce Systems Introduced In Armenia: Card-To-Card Transfers and Online Treasury Direct Some 300 Million Drams Allocated From Armenia's State Budget For Medical Services Over A Two-Year Period Tax Authorities Reveal 1,830 People Off Par-Rolls Armenia Posts Economic Growth Statistics
October
Chairman Of CBA: Strengthening Of AMD Positions To USD To Be Recorded During 2006 Real Estate Deals Number In Armenia Rises By 29.3% In September, Compared With The Same Month A Year Earlier Reaching 10421 Unemployment Level Falls From 9.3 Percent To 8.1 Percent Top 300 Tax Payers Of Armenia Pay Amd 91.4bln To State Budget Of Armenia In Jan-Sept 2005 Minister Predicts 8 Percent Annual Appreciation For National Currency Armenian Foreign Trade Grows 32 Percent in Three Quarters Of 2005 IMF Calls Index of Economic Growth in Armenia a 'Record' AMD 50,336 Average Monthly Wage in Armenia in January-September 2005 Civil Aviation Department To Revoke Carrier's License Government Commission Penalizes Companies for Breaking Anti-Trust Law Economic Growth in Armenia Impressive: IMF Executive Director Grant Thornton Amyot International Auditing Company to Perform a Financial Audit of the CBA in 2005 2006 Draft Budget Sets 54.1 Billion Drams For Social Programs RA State Depository Publishes Average Prices For Precious Metals, Stones For Sept 2005 Prime Minister Meets EBRD Directors Armenian-Russian Trade Turnover $120.4mln in 1st Half of 2005 Armenian-Kazakh Intergovernmental Commission Meets in Yerevan for Maiden Session Russian Investments In Armenia Make USD 13.545mln In First Half Of 2005 President Kocharian, Minister Vardanian Discuss 2006 Budget IT Technologies May Promote Armenia's Economic Development To Retain Current Pace Of Growth Armenia Has To Make Considerable Efforts For Forming Justice System CBA To Publish Indexes Of Economic Activity, Business Environment, Consumer Confidence In December 2005 For First Time RA President: Almost All Italian Investments In Armenia Successful Gold Plant Near Lake Sevan Armenia's GDP up 11.7% in January-August 2005 USATF Meeting Discussed Democratic Reforms And Economic Assistance
September
The CBA To Put In Circulation Two Sets Of Memorial Golden And Silver Coins From October 1, 2005 Devoted To The Armed Forces Of Armenia 4th Meeting Of Armenia-Georgian Inter-Governmental Commission On Economic Issues Held In Yerevan Government Not To Object to Sale of ENA to Russian Company Armenia's GDP Grows 11.7% in January-August Yerevan Brandy Company Tosses Away MP's Allegations Comsup Commodities Pledges 21 Million Drams To Municipality Commission Fines Coca Cola World Bank Report Ranks Armenia Ahead Of CIS Countries In Terms Of Ease-Of-Doing-Business Index Armenia To Showcase Its Products At Russian Exhibitions Armenia Expects Record High Grape Crop Lloyds TSB To Help Armenian Bank Meet Western Standards Central Bank Opens Exhibition in Stepanakert
August
Norway To Invest $10 Million In South Caucasus Cascade Credit Cjsc Signs Loan Guarantee Agreement With Usaid Austria Intends To Support Armenia In Small And Medium Business Development BTA Invest Bank's Cooperation With Kazakhstanian Bank To Promote Securitization Of Mortgage Loans GTM's Tyres Already Sold On Domestic Market Millennium Challenges Program To Provide 118 Million Usd To Armenia For Reconstruction Of Water Supply System Armenian Business Delegation To Visit Ajaria Cooperation Agreement Signed In Yerevan Between Sil Insurance (Armenia), Eurasia (Kazakhstan) Companies Armentel Telecommunication Company (Armenia) Implements Continuous Work To Improve Quality Of Mobile Communication Russia Ranking Third In CIS Rated On Inflation American Express Bank Provides For First Time Credit To Commercial Bank Operating In Armenia Apricot Yield 705-80 Thousand Tons In Armenia In 2005 Alcatel Wins Multimillion Euro Contract To Develop A New Mobile Network In Armenia VivaCell Embarks On Selling Business, Business+, Optima Corporative Cards "E-Commerce" Book Published In Armenia 24% Increase In Budget Tax Revenues In Armenia In 1st Half Of 2005 Positive Result