Armenia's Economic Pulse

[KarotheGreat]

Re: Armenia's Economic Pulse

Kommersant: Jermuk Group purchased Georgian Pepsi

March 17, 2011 | 12:52

Armenian “Jermuk Group” group has purchased Georgian production of Pepsi, radio Kommersant reports referring to its sources.

However, it is unclear whether the company purchased shares itself or through a subsidiary or an offshore company. The Georgian representation of Pepsi categorically denies reports on sale of shares.

Jermuk Group, a company founded in 1999, is producing mineral and drinking water. It is an exclusive producer of Pepsi in Armenia

.

http://news.am/eng/news/51694.html

If this is true Armenian and diaspora companies need to follow this trend and start taking over Georgian companies as fast as we can.

[KanadaHye]

WB approves $16 million loan

WB approves $16 million loan for Armenia to support community agricultural resource management and competitiveness project

YEREVAN, March 23, /ARKA/. The World Bank’s (WB) Board of Executive Directors approved Tuesday a $16 million loan for Armenia to support the Community Agricultural Resource Management and Competitiveness Project.

The loan is repayable in 20 years and is provided with a 10 years grace period, World Bank Yerevan Office head, Jean-Michel Happi said today.

He said the objective of the project is to improve productivity and the sustainability of pasture/livestock livelihood systems in selected 55 communities in six Armenian provinces of Shirak, Lori, Tavush, Aragatsotn, Gegharkunik and Sisian.

This objective is expected to be achieved through support for the development of pasture/livestock management plans, improvement of agricultural advisory services in livestock-related topics, improvement of community animal health services, increased sales from livestock and natural resources and introduction of new technologies that could benefit communities focused on livestock production.

‘During a series of meetings and discussions in various rural communities we have found out that large chunks of pastures, especially in remote areas, are not used fully, as well as land under fruit orchards,’ Jean-Michel Happi said at a news conference.

He specified that 80,000 people will become the project’s beneficiaries. The total cost of the five-year project is $21.3 million, of which $5.3 million will come from the government of Armenia. Since 1992 when Armenia joined World Bank, it has received a total of $1.4 billion in loans. -0-

http://www.arka.am/eng/banks/2011/03/23/24765.html

[Federate]

Re: Armenia's Economic Pulse

Pepsi Cola Bottler Armenia Company opens in Armenia

01.06.2011 15:18

Karen Ghazaryan
“Radiolur”

The Pepsi Cola Bottler Armenia” Company was officially opened today in the Kanaker Zeytun community of Yerevan. The solemn opening ceremony was attended by President Serzh Sargsyan.

President Sargsyan toured the building, familiarized with the capacities of the factory and its development programs. The company intends to start production of natural juices in the future. The production will be exported to neighbor countries and the Middle East.

According to Minister of Economy Tigran Davtyan, the factory will play a unique role in the development of Armenia’s economy. “We are not just opening a powerful factory corresponding to international standards. Besides, this marks the entry of another renowned international brand to Armenia,’ the Minister said.

“The opening of this and other companies in the recent period evidence that our economic is not only recovering from the economic crisis, but is also making a new step towards development,” the Minister of Economy said.

http://www.armradio.am/eng/news/?part=soc&id=20115

[Federate]

Re: Armenia's Economic Pulse

U.S. To Explore Armenia’s Shale Gas Reserves

The U.S. government pledged on Thursday to help Armenia explore and possibly develop its potential deposits of shale gas, a new and increasingly important source of energy in the United States.

The outgoing U.S. Ambassador Marie Yovanovitch signed a relevant “memorandum of understanding” with Armenian Minister of Energy and Natural Resources Armen Movsisian.

The U.S. Embassy in Yerevan said the document envisages a “cooperative assessment and technical studies of Armenia’s energy resources, including any potential shale gas resources.” In a written statement, it said this will be jointly done by Movsisian’s ministry and the U.S. Geological Survey, a government agency.

A separate statement issued by the ministry clarified that the two sides will not only explore Armenia’s “unconventional” energy resources but also gauge the feasibility of their commercial exploitation and, if necessary, devise “investment projects.” Natural gas would be produced from Armenian shale deposits through “use of the best technologies harmless to environment,” it said.

The statement added that the agreement stems from an international conference on shale gas that was hosted by the U.S. State Department last August. It said U.S. officials offered exploration grants to government representatives from Armenia and about two dozen other countries that attended the three-day forum.

“The organizers … noted the readiness of the U.S. government and companies to make investments in those countries,” revealed the statement. It said the Armenian participants presented “brief information” about the availability of shale and other energy resources in their country.

“In the Republic of Armenia, there are a number of shale fossil deposits from which one can extract not only gas but also shale oil, which is very similar to crude oil in terms of its characteristics,” said the Armenian Ministry of Energy and Natural Resources.

Neither the ministry, nor the U.S. Embassy specified the amount of financial assistance which Washington will spend on shale gas exploration in Armenia. Nor did they mention any time frames for the planned work.

Over the past decade, shale has become an increasingly important source of natural gas in the U.S. Shale gas industries have also emerged in Europe and China.

The world’s vast reserves of the sedimentary rock have led some analysts to suggest that shale gas will eventually become a real alternative to depleting energy resources such as conventional gas and oil.

http://www.azatutyun.am/content/article/24213717.html

[ninetoyadome]

Re: Armenia's Economic Pulse

Qatar to be new job market for Armenians




June 09, 2011 | 12:13
YEREVAN. – Armenia and Qatar have signed an agreement on attracting qualitative employees from Armenia to Qatar. Minister of Social Affairs and Acting Minister of Labor of Qatar, Nasser Bin Abdullah Al-Hamidi invited a delegation head by Armenian Minister of Labor and Social Affairs Arthur Grigoryan to visit the country. The parties noted the importance of attracting qualitative Armenian employees to Qatar, particularly, in the sphere of healthcare, architecture and technology. A conditional agreement was signed between the two states on allowing the use of Armenian employees on the territory of Qatar.

http://news.am/eng/news/62619.html

[Federate]

Re: Armenia's Economic Pulse

Feels good to read that Armenians are buying foreign businesses for a change, instead of the opposite.
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Armavia may purchase Airzena Georgian Airlines
July 6, 2011 - 18:26 AMT

PanARMENIAN.Net - Armavia airline company owner is considering the possibility of purchasing Airzena Georgian Airlines.

As Mikhail Baghdasarov told a news conference in Yerevan, the offer was advanced by Airzena itself.

Baghdasarov, however, refrained from revealing financial details of the deal, merely giving high assessment to the company’s achievements.

The Georgian Airways airline was established and started operations in September 1994 as Airzena and started with business and charter flights. Scheduled services were added in 1997. Airzena merged with Air Georgia in November 1999 to form Airzena Georgian Airlines and adopted the current title on 1 October 2004.

http://www.panarmenian.net/eng/news/73906/?utm_source=twitterfeed&utm_medium=twitter

[Mos]

Re: Armenia's Economic Pulse

Feels good to read that Armenians are buying foreign businesses for a change, instead of the opposite.
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Armavia may purchase Airzena Georgian Airlines
July 6, 2011 - 18:26 AMT

PanARMENIAN.Net - Armavia airline company owner is considering the possibility of purchasing Airzena Georgian Airlines.

As Mikhail Baghdasarov told a news conference in Yerevan, the offer was advanced by Airzena itself.

Baghdasarov, however, refrained from revealing financial details of the deal, merely giving high assessment to the company’s achievements.

The Georgian Airways airline was established and started operations in September 1994 as Airzena and started with business and charter flights. Scheduled services were added in 1997. Airzena merged with Air Georgia in November 1999 to form Airzena Georgian Airlines and adopted the current title on 1 October 2004.

http://www.panarmenian.net/eng/news/...medium=twitter

I doubt Georgia would want Armavia buying their national airlines...

[Federate]

Re: Armenia's Economic Pulse

I doubt Georgia would want Armavia buying their national airlines...

It's a private company, Georgians pay the price of privatising everything.

[Mos]

Re: Armenia's Economic Pulse

It's a private company, Georgians pay the price of privatising everything.

Couldn't though Georgian Government put heavy pressure on that airline? Plus the government must have some major shares in that company....

[Federate]

Re: Armenia's Economic Pulse

Couldn't though Georgian Government put heavy pressure on that airline? Plus the government must have some major shares in that company....

It's a possibility given that the company operates a VIP plane for the gov't of Georgia. But there is a good chance that a deal could happen, Georgians were selling off their gas pipelines and other national assets to highest bidders just a few months ago, maybe this too.