‘Economics’ Archives
German Daimler fined at $185m
Management of German Daimler motor company admitted giving bribes to public officers in 22 states. Judgment of conviction for Daimler was made by US. Federal Court on April 2. The company is liable of paying U.S. $185m to the U.S. Ministry of Justice, as well as U.S. Securities and Exchange [...]
Armenia to receive U.S. $150m from IMF
The International Monetary Fund (IMF) has approved the report on cooperation with Armenia, which means that the program will be continued, RA Prime Minister Tigran Sargsyan stated at the RA Government’s sitting on April 1. “We will receive the IMF’s financial aid under the program, about U.S. [...]
Gas price up
From April 1, 2010, the gas price has been raised from 96 AMD up to 132 AMD per cubic meter. The ArmRosgazprom Company accounted for the rise by the fact that the Russian side raised the price. In fact, however, the Russian side raised the price from U.S. $154 up to U.S. $180, whereas the Armenian [...]
Ameriabank sees prospects of rapid growth at regional level
Ameriabank sees prospects of rapid growth at the regional markets, Artak Hanesyan , Ameriabank chairman of directorate and director general told a news conference in Yerevan today. "Speaking of regional markets we mean CIS markets, in particular our presence in the financial markets of [...]
Diamond cutting increased by 35% in Armenia in January-February 2010
Due to the global financial crisis, a significant recession was recorded in diamond cutting of Armenia. Head of the Department of Trade and Effective Markets of the RA Ministry of Economy said that 600 people were employed in this field at the end of 2008, while their number decreased to 380 people [...]
Government to compensate for inflation risks, RA Finance Minister states
RA Government separated 2010 macroeconomic risks from inflation risks – the latter were increased by a rise in gas pices, RA Finance Minister Tigran Davtyan told journalists on Wednesday. The Government also intends to compensate most vulnerable groups for the inflation risks. According to [...]
USD 20 million invested in water supply sphere in 2009
In 2009, the following investments were extended to Armenian water supply sphere: WB -USD 3,65 million; ADB -USD14,5 million; EBRD – Euro1 million, according to ArmVodokanal report. “Currently we’re facing a number of tasks to be fulfilled in order to improve water supply situation in [...]
US Dollar fortifies position
On March 30, purchase and sale deals volume at NASDAQ OMX totalled USD 650 000 at the average rate of AMD 401,55 / USD1, CBA press service reported. At the close of business, exchange rate comprised AMD 403,5 / USD1. Average market exchange rate of Armenian Dram to US Dollar on Armenia’s [...]
ADB to provide $40 million loan help build a new terminal at Zvartnots International Airport
The Asian Development Bank (ADB) is providing a loan of up to $40 million to help build a new terminal at Zvartnots International Airport in Yerevan, Armenia. The loan marks ADB's first private-sector infrastructure investment in Armenia and the Caucasus region and comes at a critical time for [...]
Government doing best to curb prices, MP states
“The Armenian authorities, especially the Central Bank, must do their best to curb prices and be able to predict price rise,” Gagik Minasyan, Chairman of the Committee on Finance, Credit and Budget, RA Parliament, told reporters. He stressed that the expected rise in the gas price will give [...]