‘Economics’ Archives
Armenian real estate market awaiting “better times”
President of Akcern real estate corporation Hakob Baghdasaryan said that currently Armenia’s real estate market is in wait state and there are not apparent signs of activity. “In my opinion, people need some six months to conceive that the crisis has been overcome,” Baghdasaryan told a [...]
AGIP likely to be implemented earlier than Nabucco
April 13, Romania, Azerbaijan and Georgia signed a memorandum of understanding on cooperation in gas sector. AGIP project implementation (Azerbaijan-Georgia-Romania Interconnector) will allow Caspian gas supply to Europe from Azerbaijan to Romania via Georgia. According to Romanian Economy [...]
550m AMD to be allocated to Armenia’s agricultural sector in 2010
This year, because of the global financial crisis, the RA Government plans to allocate 550m AMD for the agricultural sector’s development against last year’s 1.6bn AMD, Khachik Harutyunyan, Chairman of the Committee on Agriculture and Environment, RA Parliament, stated at a press conference on [...]
Ameriabank, Cascade Bank complete amalgamation deal
Two Armenian banks, Ameriabank CJSC and Cascade Bank CJSC announced completion of the amalgamation deal on April 10. “The deal will make a positive contribution to the banking system development in Armenia,” CBA Chairman Arthur Javadyan said congratulating the banks. The CBA Chairman [...]
Turkish MPs’ concern over Armenian NPP unfounded
The RA Ministry of Energy and Natural Resources has responded to the unnecessary alarm over the Armenian nuclear-power station created by Turkish MPs. The Turkish parliamentarians expressed their “concern” over the Metsamor nuclear power plant (NPP), which is located 20 km of Iğdır, [...]
Nord Stream pipeline construction launched
Solemn events timed to the start of Nord Stream trans-Baltic pipeline construction took place on April 9 on Russia’s Baltic Sea coast near the town of Vyborg. RF President Dmitry Medvedev, Gazprom CEO Alexey Miller and Hans-Ulrich Engel — BASF Member of the Board of Executive Directors and [...]
Armenia’s foreign debt will grow: IMF
International Monetary Fund (IMF) office in Armenia will shortly publish a report with forecasts for 2010 – Armenia will register an economic upturn of 1.8% and inflation of 6.2%, IMF resident representative in Armenia Guillermo Tolosa told journalists today, April 9. As for the foreign debt [...]
“TDA Holdings Limited” purchases Cascade Bank
RA State Commission for the Protection of Economic Competition has sanctioned the bargain of Cascade Bank. The bank was purchased by the major shareholder and owner of Ameriabank TDA Holdings Limited. The Cyprian company is supposed to become the sole owner of the bank's shares. Remind that [...]
Armswissbank becomes market maker for Artsakh HPP Stocks
From April 3, 2010 Armswissbank will provide buy and sell prices for the stocks of Artsakh HydroPower Plant, listed on NASDAQ OMX Armenia since October 29, 2009 under ticker symbol AHEK. As the press office of the RA stock exchange reported, a total of 5,962,074 common nominal stocks of the [...]
Eurnekian gets $40m credit
Eduardo Eurnekian obtained a $40m credit from the Asian Development Bank for the construction of a new terminal in Yerevan Zvartnots international airport, the Argentina-based Clarin newspaper reports. According to the source, the businessman needs $137m for project implementation. Eduardo [...]