Yerevan
20 / January / 2018

Economy

Detained Saudi prince with Armenian roots selling his assets
Saudi Arabian investment firm Kingdom Holding has sold its stake in the Four Seasons Hotel in Beirut for around $100-115 million including debt, sources told Reuters on Monday. One source said the buyer is a Saudi businessman of Lebanese origin and the deal was done in December. Sources have told Reuters the hotel had been up for sale for a long time and was not linked to the detention in November of Kingdom Holding’s billionaire chairman, Prince Alwaleed bin Talal—who has Armenian...
2018-01-16 14:06:08
Armenia government approves European Social Charter (Revised) national report
YEREVAN. – At Thursday’s Cabinet session, the government of Armenia approved the European Social Charter (Revised) national report, from 2013 to 2016. The Minister of Labor and Social Affairs, Artem Asatryan, presented the respective draft decision. Armenia ratified the European Social Charter (Revised) in January 2004. The Charter performance report is presented every two years. The European Social Charter, which initially became effective in 1965, is a Council of Europe treaty ...
2018-01-11 16:52:35
Armenia to sell precious items in government reserve fund
YEREVAN. – At Thursday’s Cabinet meeting, the government of Armenia approved the 2018-2021 plan for the sale of the precious items in the government reserve fund. The Minister of Finance, Vardan Aramyan, introduced the respective draft decision. In the minister’s words, the precious stones and state treasures have not been sold since 1996, and as a result, quite a large number of jewelry has accumulated in the government reserve fund, and they are losing their relevance and v...
2018-01-11 16:51:49
Expert: Number of Armenia private companies increased by 7,000 in 2017
YEREVAN. – In 2017, the number of companies in the private sector of Armenia has increased by 7,000. Chairman of the Republican Union of Employers of Armenia, economist Gagik Makaryan, stated the abovementioned at a press conference on Wednesday. In his words, these are primarily small and medium-sized business companies. Makaryan added that owing to the increase in these companies, the number of employed in Armenia’s private sector has reached close to 330 thousand. As per the ec...
2018-01-10 17:34:14
Economist: Impact of inflation in Armenia is very negative
YEREVAN. – The impact of inflation in Armenia is extremely negative, for objective and subjective reasons. National Assembly “Tsarukyan” Faction MP, economist Vardan Bostanjyan, told the abovementioned to Armenian News-NEWS.am. As per Bostanjyan, after the new Eurasian Economic Union Customs Code’s entry into force, the prices of some products in Armenia will rise, and this will lead to a reduction in consumption in the country. “In the meantime, inflation is an ...
2018-01-10 16:33:30
Armenian President: Financial system predetermines progress of the country
YEREVAN.- President of Armenia Serzh Sargsyan participated in the reception organized by the Central Bank of Armenia on the occasion of the coming New Year and Christmas holidays, the press service of the Armenian President’s Office reported. The President congratulated all the employees of the Central Bank of Armenia and the trade banks and their families on the upcoming holidays. President Sargsyan wished that all the positive achievements of Armenia of 2017, both in the economic and po...
2017-12-29 17:33:10
Dollar “climb” continues in Armenia
YEREVAN. – The American dollar’s (USD) exchange rate against the Armenian dram (AMD) comprised AMD 484.10/$1 in Armenia on Friday; this is up by AMD 0.91 from Thursday, informed the press service of the Central Bank of Armenia. The exchange rate for one euro was AMD 580.10 (up by AMD 3.63), that of one British pound was AMD 653.54 (up by AMD 3.92), and the rate of one Russian ruble was AMD 8.40 (down by AMD 0.01) in the country. In addition, one gram of silver, platinum and gold am...
2017-12-29 17:30:08
World-renowned Armenian economist projects economic crisis for Turkey
Renowned Istanbul Armenian economist Daron Acemoglu, who is a professor of economics at the Massachusetts Institute of Technology, spoke about the economic situation in Turkey. Acemoglu stated that Turkey’s economy is not healthy, according to Cumhuriyet (Republic) newspaper of the country. He stressed that the current economic growth in Turkey is not a result of an increase in production, but an increase in demand. “The economic prospects announced by the Turkish government are ju...
2017-12-26 13:24:23
Armenia Parliament deputy speaker: Had there been 2-3% economic growth in 2016, ...
YEREVAN. – In the current year, results are such that there is growth in industry, services and trade, whereas there was a drop in construction and agriculture in Armenia. National Assembly (NA) Vice Chairperson and NA “Tsarukyan” Faction member, economist Mikayel Melkumyan, told about the aforesaid to Armenian News-NEWS.am. He noted this reflecting on the fact that an unprecedented 7 percent economic growth was recorded in the country in the eleven months of the current year....
2017-12-25 12:16:48
Armenian President receives Chairman of Management Board of EDB
YEREVAN.- Armenian President Serzh Sargsyan received on December 22 Chairman of Management Board of the Eurasian Development Bank Andrey Belyaninov, the press service of the Armenian President’s Office reported. The President congratulated the guest on the appointment, expressing confidence that his long years of experience in the public sector, as well as private sector will be used to strengthen the role of the bank in the Eurasian region and for the implementation of the development pr...
2017-12-23 11:22:33
Karabakh President attends 2018 State Budget draft parliamentary debates
STEPANAKERT. – President of the Republic of Artsakh (Nagorno-Karabakh Republic/NKR), Bako Sahakyan, on Thursday attended the draft 2018 State Budget debates at the National Assembly plenary session. Sahakyan expressed gratitude to the members of the parliament for adopting the country’s main financial and economic document for the coming year, and lauded the respective active and substantive discussions that were conducted, Central Information Department of the Office of the NKR Pre...
2017-12-21 16:33:12
$3.6 Million Raised for Villages In Armenia During COAF Gala
NEW YORK—The 14th annual Children of Armenia Fund (COAF) Holiday Gala held on December 16 at New York City’s renowned Cipriani 42nd Street, raised an impressive $3.6 million in support of children in Armenian villages. Among the special guests were art-world legend Tony Shafrazi, Emmy & Tony Award-winning actress Andrea Martin, designer Michael Aram, chef Geoffrey Zakarian, and actress, singer, and performer Vanessa Williams. COAF’s Humanitarian Award was presented to Emmy...
2017-12-21 16:26:09
Armenian president: Karen Karapetyan is very acceptable person for PM’s post
YEREVAN.- Karen Karapetyan is a very acceptable person for PM’s post, President of Armenia Serzh Sargsyan said in an exclusive interview with Armenia TV. Commenting on the fact that Karen Karapetyan repeatedly stated his readiness to continue to hold the post of prime minister, Serzh Sargsyan noted: "Time hasn't come yet. When it comes, we will. We (RPA) finally have the right to decide who and where can work more efficiently. As for Karen Karapetyan's desire, this is a very good, healthy...
2017-12-15 11:40:55
Armenia to hold 3 major events in 2018
YEREVAN. – Three major events will take place in Armenia in 2018, and therefore Prime Minister Karen Karapetyan on Thursday gave relevant instructions at the Cabinet meeting of the government. “Centennial of the heroic battles in May, events of the 2800th anniversary of the foundation of [capital city] Yerevan, as well as the La Francophonie summit in October,” said the PM, and noted that the respective organizational work is already in progress. Considering that a greater nu...
2017-12-14 15:43:42

Gevorg Avetisyan: It is necessary to transfer the national culture to the younger generation living ...

Armenia-Azerbajian friendship platform is Aliev's regime dark project. Vahan Martirosyan

Armenian and Artsakh FM's hold discussion

Fancy jewelry company to invest 90 million drams in expansion of output

EEU and Iran to sign free trade agreement in a few months

Armenia’s state food safety service to encourage orderly meat products selling stores