Economy

Wheat importers work also with losses

Armenia is expecting 280,000 tons of wheat yield this year against last year’s 370,000, Armenia’s Agriculture Minister Gerasim Alaverdyan told a news conference today.
Mon, 30 Aug 2010 06:25:17 -0500

BP rejects claims it is hiding data on rig explosion

Energy giant BP has been accused of hiding key data needed to investigate the Gulf of Mexico oil disaster. Transocean, the company that owned the oil rig, alleged that BP is refusing to hand over information it needs about the explosion.
Fri, 20 Aug 2010 05:00:22 -0500

Don't worry! There is enough flour and wheat

There is no need to worry about Russia's ban on wheat exports, Samvel Alexanyan, the proprietor of one of Armenia's leading wheat importing companies Alex Grig, told asked to comment on the possible consequences of the Russian ban for Armenia.
Sat, 07 Aug 2010 05:44:19 -0500

USAID provides Armenia $50 million for economic development and social reform

At an official ceremony held in the Republic of Armenia Ministry of Economy on August 6, 2010, Minister of Economy Nerses Yeritsyan, US Ambassador to Armenia Marie L. Yovanovitch and USAID/Armenia Mission Director Jatinder Cheema signed two Assistance Agreements.
Sat, 07 Aug 2010 05:30:36 -0500

Nabucco support agreement to be signed in Ankara

An agreement that will support the realization of Nabucco gas pipeline project is expected to be signed in Ankara in August by the ministers of the participant countries - Turkey, Austria, Hungary, Romania and Bulgaria.
Thu, 05 Aug 2010 05:15:48 -0500

Armenia has 2nd highest growth in industrial output among CIS countries

Armenia has had the second highest growth in industrial output among CIS countries during the first half of 2010. Kyrgyzstan is the first in the list with 41.8 per cent growth.
Tue, 03 Aug 2010 08:37:08 -0500

State has spent $80m USD for Metsamor Nuclear Power Plant’s security

The Nuclear Power Plant in Metsamor, Armavir marz (province) is being exploited safely, Head of State Committee for Nuclear Security Regulation to Armenia’s Government Ashot Martirosyan told a press conference today.
Thu, 29 Jul 2010 09:26:02 -0500

Don't use gas if you don't want: court rules in favor of ArmRosGazProm

Armenia's Administrative Court has rejected a claim filed by the opposition movement Armenian National Congress in April 2010 and signed by more than 7,000 Armenian gas consumers against a decision by Public Services Regulatory Commission of the Republic of Armenia to raise the gas tariff.
Tue, 27 Jul 2010 06:32:38 -0500

Three factors affecting Armenia's economy

The most urgent issues Armenia is facing now are the ineffective situation in the governing system, curruption risks and shadow economy, Armenia's Prime Minister Tigran Sargsyan said at an interview with local Armenian media sources.
Sun, 25 Jul 2010 12:02:03 -0500

Seven EU banks fail stress tests

Seven of the 91 European banks that underwent stress tests have failed the healthchecks, the Committee of European Banking Supervisors has said. They include five Spanish banks - Diada, Espiga, Banca Civica, Unnim and Cajasur.
Sun, 25 Jul 2010 11:46:12 -0500

There is no sector in Armenia's economy to ensure serious exporting capabilities

In a press conference today former Armenian Prime Minister Hrant Bagratyan deemed it illogical that the Armenian authorities can afford big amounts of financial resources to outflow from Armenia and at the same time to attract credits from international organizations.
Tue, 20 Jul 2010 07:58:57 -0500

Possible selling of Georgia's gas pipeline does not worry Armenia

Armenian government has no worries about the selling of the pipeline that carries Russian gas to Armenia via Georgia, Armenia's Minister of Energy Armen Movsisyan told a press conference today.
Wed, 14 Jul 2010 07:12:35 -0500

Turkey must try and buy the pipeline carrying gas to Armenia

If Georgia eventually decides to sell the gas pipeline that links Russia and Armenia, then Turkey should try and buy it, referring to a recent move by the Georgian parliament to exclude that pipeline from the list of state facilities that are not subject to sale.
Wed, 14 Jul 2010 06:37:42 -0500

Armenia-Georgia war scenario over gas pipeline

If Georgia sells the gas pipeline, the one that carries Russian gas to Armenia, to an Azerbaijani or Turkish company, then Armenia must prevent it even by beginning military actions against Georgia if need be, expert Vahe Sargsyan told a press conference today.
Mon, 12 Jul 2010 08:49:22 -0500

House-warming in Gyumri: 1056 families will have their own flats

Armenian President Serzh Sargsyan is paying a visit to the earthquake-hit city of Gyumri where 1056 families will celebrate today house-warming. Some of them have already been given the keys to their flats.
Fri, 09 Jul 2010 09:09:05 -0500

Armenia’s foreign debt to reach U.S. $4bn by 2013

On July 8, the RA Government first approved a strategic program of national debt control for 2011-2013. Under the program, Armenia’s foreign debt is to reach U.S. $4bn by 2013 against the present U.S. $3bn.
Thu, 08 Jul 2010 07:52:51 -0500

Armenia became full-fledged member of ECOSOC

The Public Council of Armenia became a full-fledged member of the Economic and Social Council of the United Nations (ECOSOC).
Thu, 08 Jul 2010 07:41:54 -0500

EurAsEC to issue U.S. 600m soft credit to Armenia

The Anti-Crisis Fund of the Eurasian Economic Community will issue a U.S. $600m soft credit to Armenia. A relevant decision was made at a final sitting of the Interstate Council in Astana on July 5.
Wed, 07 Jul 2010 05:12:27 -0500

Armenian President participates in EAEC Interstate Council’s meeting

On July 5, in Astana, Kazakhstan, RA President Serzh Sargsyan participated in a meeting of the Eurasian Economic Community Interstate Council. The Armenian leader has had observer status at the organization since 2003.
Mon, 05 Jul 2010 09:15:33 -0500

Armenian FM received U.S. special envoy for Eurasian energy

July 5, RA Foreign Minister Edward Nalbandian received Special Envoy of the U.S. Secretary of State for Eurasian Energy Richard Morningstar. He has arrived in Armenia as member of a delegation headed by Secretary of State Hillary Clinton.
Mon, 05 Jul 2010 08:57:33 -0500