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Armenia's Economic Pulse

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  • Re: Armenia's Economic Pulse

    DIRECTOR OF ARMENTEL FOUND DEAD IN ARMENIA'S TSAHKADZOR

    Vestnik Kavkaza, Russia
    Feb 3 2014

    3 February 2014 - 5:27pm

    Director of ArmenTel found dead in Armenia's Tsahkadzor The commercial
    director of ArmenTel, Archil Magradze, was found dead in the Armenian
    town of Tsahkadzor today.

    The body of 35-year-old Magradze was found near the town's sports
    facilities. Earlier, the police were informed that Magradze had
    gone missing.

    Archil Magradze was appointed commercial director of ArmenTel on July
    11, 2013.

    The commercial director of ArmenTel, Archil Magradze, was found dead
    in the Armenian town of Tsahkadzor today.

    The body of 35-year-old Magradze was found near the town's sports
    facilities. Earlier, the police were informed that Magradze had
    gone missing.

    Archil Magradze was appointed commercial director of ArmenTel on July
    11, 2013.
    Hayastan or Bust.

    Comment


    • Re: Armenia's Economic Pulse

      Originally posted by Haykakan View Post
      DIRECTOR OF ARMENTEL FOUND DEAD IN ARMENIA'S TSAHKADZOR

      Vestnik Kavkaza, Russia
      Feb 3 2014

      3 February 2014 - 5:27pm

      Director of ArmenTel found dead in Armenia's Tsahkadzor The commercial
      director of ArmenTel, Archil Magradze, was found dead in the Armenian
      town of Tsahkadzor today.

      The body of 35-year-old Magradze was found near the town's sports
      facilities. Earlier, the police were informed that Magradze had
      gone missing.

      Archil Magradze was appointed commercial director of ArmenTel on July
      11, 2013.

      The commercial director of ArmenTel, Archil Magradze, was found dead
      in the Armenian town of Tsahkadzor today.

      The body of 35-year-old Magradze was found near the town's sports
      facilities. Earlier, the police were informed that Magradze had
      gone missing.

      Archil Magradze was appointed commercial director of ArmenTel on July
      11, 2013.
      Read of a diasporan that started a phone co. I think.
      He refused to use the bribe system & kept his hands clean. A real hot shot & looked like success was his.
      Can't remember but think I read this on this forum somewhere.
      Is this unfortunate sole associated?
      Kinda getting the feeling oligarch is sending message to clean hands, but really don't know.
      Artashes
      HARK

      Comment


      • Re: Armenia's Economic Pulse

        Originally posted by Artashes View Post
        Read of a diasporan that started a phone co. I think.
        He refused to use the bribe system & kept his hands clean. A real hot shot & looked like success was his.
        Can't remember but think I read this on this forum somewhere.
        Is this unfortunate sole associated?
        Kinda getting the feeling oligarch is sending message to clean hands, but really don't know.
        Artashes
        No Artsahes, I believe you are talking about Ralph Yirikian, General Manager of Viva-Cell
        http://www.birthrightarmenia.org/pages.php?al=viva_cell

        He is the man behind the company that has revolutionized mobile communications in Armenia and has 3 times more subscribers (2million) than the second biggest company. He is the one who injects a great amount of nationalism and community pride in his hiring process and overall company model and offers a very professional model in all regions of Armenia with good paying jobs. Oh, and he also happens to be the biggest tax player in Armenia http://www.mirrorspectator.com/2010/...ian-community/

        A fresh breath of hope in the midst of many parasites that run our other major industries. A great model for other diasporans to follow.
        <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

        Comment


        • Re: Armenia's Economic Pulse

          Sahakian Visits Manufacturing Factories in Stepanakert

          STEPANAKERT—Nagorno-Karabakh Republic President Bako Sahakian on Wednesday visited textile, sewing, carpet weaving and wool processing factories operating in the capital and became acquainted with their activities, reported the Artsakh presidential press office.

          Sahakian also visited a number new factories for light industry and an information technology development center that is scheduled to start operations in the near future.

          The President highlighted the development of various branches of industry and information technologies, noting that those realms had serious potential and will enable Artsakh to enter international markets with competitive products, while at the same time generating new industrial centers in the capital.

          Sahakian was accompanied by National Assembly Speaker Ashot Ghoulyan, vice prime-minister Arthur Aghabekyan and other officials.

          http://asbarez.com/119197/sahakian-v...n-stepanakert/
          <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

          Comment


          • Re: Armenia's Economic Pulse

            Originally posted by Mher View Post
            No Artsahes, I believe you are talking about Ralph Yirikian, General Manager of Viva-Cell
            http://www.birthrightarmenia.org/pages.php?al=viva_cell

            He is the man behind the company that has revolutionized mobile communications in Armenia and has 3 times more subscribers (2million) than the second biggest company. He is the one who injects a great amount of nationalism and community pride in his hiring process and overall company model and offers a very professional model in all regions of Armenia with good paying jobs. Oh, and he also happens to be the biggest tax player in Armenia http://www.mirrorspectator.com/2010/...ian-community/

            A fresh breath of hope in the midst of many parasites that run our other major industries. A great model for other diasporans to follow.
            Yes, this was who I was thinking of.
            Thanks for clarifying.
            And indeed, this is the kind of action, intent, and role model Hayastan and the world longs for.
            HARK

            Comment


            • Re: Armenia's Economic Pulse

              Originally posted by Artashes View Post
              Yes, this was who I was thinking of.
              Thanks for clarifying.
              And indeed, this is the kind of action, intent, and role model Hayastan and the world longs for.
              I don't think you have to worry about his safety. I don't think its an accident that he was able to get into this position of power to do all that good. He clearly had powerful backers and knows what he's doing, and if he hasn't been stopped when he was trying to break into the industry, I don't think anyone can touch him now.
              <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

              Comment


              • Re: Armenia's Economic Pulse

                IMF reaches agreement with Armenia on request for Extended Fund Facility arrangement
                11:55 05.02.2014

                The IMF staff has reached agreement with the Armenian authorities on their request for a 38-month Extended Fund Facility (EFF) arrangement, in support of the economic and financial program of the government and Central Bank of Armenia (CBA) for 2014–17. The agreement also builds on the policy discussions that took place in Yerevan in September and December of last year.

                Subject to IMF management approval, the staff-level agreement will be submitted to the Executive Board for its consideration in early March. Under the arrangement, Armenia would be able to access IMF credit of up to SDR 82.21 million (approximately US$125 million), subject to six semi-annual reviews.

                The proposed arrangement follows the successful completion of a three-year program, supported by the IMF under the Extended Fund and Extended Credit Facility arrangements, which concluded in July 2013 (see Press Release No.13/242). SDR 266.80 million (approximately US$410 million) were disbursed under these two arrangements.
                Mark Horton, IMF Mission Chief for Armenia, issued the following statement today in Washington:

                “The objectives of the IMF-supported program that concluded last July were largely achieved. These included restoring fiscal and external sustainability, preserving financial stability, restoring growth, and reducing poverty. Key achievements included reestablishing growth after a 14 percent contraction in 2009, attaining significant consolidation of fiscal and external current account deficits, and advancing structural reforms in several areas.
                “Key challenges remain, however, in terms of sustaining stabilization, reducing vulnerabilities, and enhancing medium-term growth. Inflation and growth remain volatile, growth slowed significantly in 2013, and the external current account deficit and dollarization continue to be high, so that Armenia is vulnerable to shocks. Poverty and unemployment also remain high, and further reforms are needed to support and strengthen growth and continue Armenia’s transformation into a dynamic, emerging market economy.

                “In light of these challenges, the authorities have requested a new IMF arrangement. Key objectives are to safeguard sound public finances and provide more space for growth-enhancing and poverty reducing spending, to continue monetary and financial sector policies that strengthen resilience and buffers, and to promote greater competition, competitiveness, and regional integration, and thereby, higher investment, exports, and growth.

                “In particular, after two years of significant fiscal overperformance, due both to underspending on major foreign-financed infrastructure projects and gains in tax revenues, fiscal policy is expected to provide a stimulus in 2014, as additional domestic resources will be devoted to capital outlays, and civil service wages and pensions are increased after several years of erosion. The headline deficit (excluding a one-off transfer) is expected to increase from less than 1.0 percent of GDP in 2013 (preliminary) to 2.3 percent in 2014, before coming back down to 2.0 percent in 2015 and 1.8 percent in 2016–17, a level at which public debt will begin to be reduced. Revenue increases will contribute to a reduction of outstanding tax credits in 2015, and in 2016–17, to fiscal consolidation.

                “Monetary policy efforts under the program will continue to aim at keeping inflation within the CBA’s inflation target range of 4±1.5 percent, while strengthening the inflation-targeting framework through improved communications and enhanced modeling. Program targets will move gradually away from monetary aggregates to inflation outcomes. The CBA is expected to continue its current exchange rate policy, allowing the dram to float, but using opportunities to buy foreign exchange when possible while also providing foreign exchange liquidity when need to avoid abrupt changes in the exchange rate. The program will target continuing strong coverage of foreign exchange reserves.

                “Financial sector policies will aim at strengthening resilience, risk assessment and mitigation, and supervision, particularly in light of the high level of dollarization. The launching of the new pension system in early 2014 is expected to provide an impulse to financial sector development; program measures in other areas will support financial sector deepening.

                “Further, decisive structural reforms are needed to complete Armenia’s post-crisis transformation from a construction-led growth model to a more open, integrated, and competitive emerging market. These reforms would help diversify the economy and make growth less volatile. The authorities have laid out a comprehensive approach in their new Armenia Development Strategy 2014–25 , and the new program would support implementation of this strategy by targeting structural measures that further improve the business climate, strengthen institutions, improve connectivity and competition, create a stronger environment for foreign direct investment, and tackle key risks, most notably in the energy sector. These efforts are expected to lead to higher investment and exports and contribute to a further adjustment of the external current account deficit—to 6˝ percent of GDP in 2017—thereby reducing vulnerability.

                “Risks to program exist, but they are manageable. Downside risks include adverse geopolitical events and external shocks, including a weakening of inflows in the context of a protracted slowdown in Russia. The authorities’ sound policy framework, efforts to further build buffers, and commitment to a strong structural reform agenda are important ways to mitigate risks.”

                http://www.armradio.am/en/2014/02/05...y-arrangement/
                <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

                Comment


                • Re: Armenia's Economic Pulse

                  Armenian citizens will get Indian visas on arrival

                  February 06, 2014 | 11:09

                  The Indian government decided to relax visa requirements for 180
                  states, including Armenia, to make it easier for tourists to travel to
                  the country.

                  The foreigners from mentioned states will have an opportunity to get
                  their visas on arrival.

                  "We have decided to extend the visa-on-arrival facility to tourists
                  from 180 nations," dnaindia.com quotes Planning Minister Rajiv Shukla
                  told reporters.

                  It is noted that the measure was approved by Indian special services.
                  Among the states not included in the list are Pakistan, Iran, Sudan,
                  Afghanistan, Iraq, Nigeria, Somali, North Korea and Sri Lanka.

                  In 2013 India hosted around 6.8 million tourists that provided the
                  country income of more than $18 billion.


                  News from Armenia - NEWS.am
                  Hayastan or Bust.

                  Comment


                  • Re: Armenia's Economic Pulse

                    Rosneft mulls construction of rubber plant in Armenia, envoy confirms

                    February 11, 2014 - 16:46 AMT

                    PanARMENIAN.Net - Rosneft is seriously considering construction of a rubber plant in Armenia, Russian ambassador Ivan Volynkin stated, commenting on the company’s plans on Nairit chemical plant in Yerevan.

                    "The issue being a complicated one, Rosneft is trying to find a mutually beneficial solution. Rosneft, jointly with Pirelli, is mulling construction of a rubber plant for eco-friendly tire production," Volinkin said, according to Arka news agency.

                    On December 25, 2013, Rosneft, Pirelli Tire Russia and Rosneft-Armenia signed a memorandum of understanding in Yerevan to set up a joint venture for butadiene-styrene rubber production.

                    "Nairit specialists engaged in similar work at the old plant, will be in demand at the new production," the diplomat said.

                    As Armenian Prime Minister Tigran Sargsyan said earlier, Rosneft is planning to invest $400 million in construction of a new plant in Armenia.

                    Nairit was the only plant in the Soviet Union producing chloroprene rubber. The plant was closed in 1989 for environmental reasons and partially resumed operations in 1992. In 2006, 90% of Nairit’s shares were sold to British Rainoville Property Limited for $40 million. The remaining 10% belong to the Armenian government. The plant's operations were suspended in 2010.


                    http://www.panarmenian.net/eng/news/175777/
                    <<եթե զենք էլ չլինի' ես քարերով կկրվեմ>>

                    Comment


                    • Re: Armenia's Economic Pulse

                      NEW IRANIAN BIOFERTILIZER PROMISES GOOD RESULTS

                      13:41 * 07.02.14

                      Alkazot Plus biofertilizer, which has been created by Iranian
                      scientists, will be used in Armenia to promote agricultural progress,
                      Director of the Armen Biotech company Siamak Alizade told reporters
                      on Friday.

                      The new fertilizer is 40% to 50% cheaper than chemical fertilizers.

                      Armen Biotech company has for 15 years been producing fertilizers
                      in Iran, and, after studying the world market, has decided to start
                      production in Armenia as well.

                      "We are going to start production in Abovyan to be able to bring
                      economic benefits to Armenia," Alizade said.

                      Deputy Director Vahik Nariyan said that the new technology helps
                      plants to absorb useful substances from oil and air.

                      "The entire world is introducing organic production, which enhances
                      economic productivity by 20 to 25 percent," Narinyan said.

                      He noted that the new fertilizer has been used in hothouses and
                      produced good results.

                      http://www.tert.am/en/news/2014/02/07/fertilizer/
                      Hayastan or Bust.

                      Comment

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