News from Armenia
GREAT BRITAIN TO CONTINUE ACTIVITIES IN ARMENIA, AMBASSADOR SAYS
ARKA
May 16, 2008
YEREVAN, May 16. /ARKA/. Great Britain has no intention to break off activities with Armenia, but further bilateral cooperation mainly depend on the country's internal political situation and economic progress, UK Ambassador to Armenia Charles Lonsdale said during his meeting with RA Prime Minister Tigran Sargsian.
The Ambassador assured the Premiere Great Britain is ready to assist Armenia in the implemen- tation of joint programs with European Union (EU) and World Bank (WB).
Ambassador Lonsdale stressed the necessity for the balanced regional development program in the country.
In his turn, Sargsian assured the British Ambassador that his activities in Armenia will contribute to Armenian-British cooperation development. To foster democracy, Armenia stipulates for serious programs and activities to settle topical issues, the Prime Minister said.
Sargsian was not content with the Armenian-British trade turnover and set a stress on economic cooperation development.
Armenian-British trade turnover increased by 51.7% to $45.1mln in 2007.
Armenian exports to Great Britain last year totaled $2.8mln against 7.6mln in 2006. British imports to Armenia rose 91.2% to $42.3mln in the reporting period.
Thanking the Ministry of International Development of Great Britain for carrying out social reforms in Armenian regions, Sargsian said Armenia plans to launch new cooperation programs.
The Prime Minister informed the British Ambassador the new concept of civil service is under way. He said Armenia expects technical assistance from Great Britain to implement this program. The Premier assured the Ambassador Armenia will do its best to sign an agreement with Great Britain on preventing double taxation. This may become a serious impetus to bilateral economic cooperation, according to Sargsian.
The participants to the meeting also discussed issues on regional development and Armenian- Turkish relations. Sargsian confirmed that Armenia is ready to establish diplomatic relations with Turkey without any preconditions. He said Great Britain can play a crucial role in this issue.
Armenian-Turkish border has been closed since 1993 on Turkey's initiative. This caused $500mln worth annual damage to Armenia's economy.
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HSBC BANK ARMENIA CALLED 2008'S BEST ASIAN BANK IN
DEVELOPING COUNTRIES
ARKA
May 15, 2008
YEREVAN, MAY 15. /ARKA/. Global Finance Magazine has named HSBC Bank Armenia as "2008's Best Asian Bank in Developing Economies". The Public Relations Department of the bank's Armenian branch said the winner in the nomination was selected according to such criteria,
as services provided to clients, competitive rates, introduction of new services, etc.
The selection was based on the opinion of the magazines' editor, leading banking analysts, as well as corporate directors and banking consultants.
The survey results will be officially publicized in the magazine's May issue.
HSBC Bank Armenia, the daughter bank of HSBC Bank plc, was registered on September 25 1995. HSBC Bank plc owns 70% shares of HSBC Bank Armenia with the other 30% possessed by foreign Armenian investors. The bank has 10 branches in Yerevan.
According to the March 31 data, the bank's assets totalled 101.1bln drams with the capital totalling 12.6bln AMD. The profit of the bank in the 1st quarter of 2008 totalled 841.3mln drams, the balance profit totalling 9.6bln drams. ($1- 307. 50 drams).
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ARKA
May 15, 2008
YEREVAN, MAY 15. /ARKA/. Global Finance Magazine has named HSBC Bank Armenia as "2008's Best Asian Bank in Developing Economies". The Public Relations Department of the bank's Armenian branch said the winner in the nomination was selected according to such criteria,
as services provided to clients, competitive rates, introduction of new services, etc.
The selection was based on the opinion of the magazines' editor, leading banking analysts, as well as corporate directors and banking consultants.
The survey results will be officially publicized in the magazine's May issue.
HSBC Bank Armenia, the daughter bank of HSBC Bank plc, was registered on September 25 1995. HSBC Bank plc owns 70% shares of HSBC Bank Armenia with the other 30% possessed by foreign Armenian investors. The bank has 10 branches in Yerevan.
According to the March 31 data, the bank's assets totalled 101.1bln drams with the capital totalling 12.6bln AMD. The profit of the bank in the 1st quarter of 2008 totalled 841.3mln drams, the balance profit totalling 9.6bln drams. ($1- 307. 50 drams).
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PRICE OF COMPRESSED GAS HAS DECLINED IN ARMENIA,
CHAIRMAN OF STATE COMMISSION ON PROTECTION OF
ECONOMIC COMPETITION CLAIMS
Noyan Tapan
May 15, 2008
YEREVAN, MAY 15, NOYAN TAPAN. It is the second day that prices at Armenia's 214 compressed gas filling stations have been reduced by about 40 drams. The chairman of the RA State Commission on Protection of Economic Competition Ashot Shahnazarian said on May 15
that compressed gas is currently sold at 160 drams a cubic meter in Yerevan, at 150 drams in Gyumri and 130 drams in Hrazdan.
To recap, on May 1 the price of gas went up as a result of abolishment of the privilege of subsidising the gas tariffs, which in its turn resulted in a growth of prices of taxi services. According to A. Shahnazarian, however, by the commission's calculation, the price was to increase by 30 drams to 160 drams, whereas at some filling stations it has reached 200 drams. He announced that the commission is continuing studies of the compressed gas market, and there is no
company with a dominating position in this market.
A. Shahnazarian said that the commission is currently examining markets of some foodstuffs in order to find out whether the decline in the customs values of these goods has affected their prices.
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Noyan Tapan
May 15, 2008
YEREVAN, MAY 15, NOYAN TAPAN. It is the second day that prices at Armenia's 214 compressed gas filling stations have been reduced by about 40 drams. The chairman of the RA State Commission on Protection of Economic Competition Ashot Shahnazarian said on May 15
that compressed gas is currently sold at 160 drams a cubic meter in Yerevan, at 150 drams in Gyumri and 130 drams in Hrazdan.
To recap, on May 1 the price of gas went up as a result of abolishment of the privilege of subsidising the gas tariffs, which in its turn resulted in a growth of prices of taxi services. According to A. Shahnazarian, however, by the commission's calculation, the price was to increase by 30 drams to 160 drams, whereas at some filling stations it has reached 200 drams. He announced that the commission is continuing studies of the compressed gas market, and there is no
company with a dominating position in this market.
A. Shahnazarian said that the commission is currently examining markets of some foodstuffs in order to find out whether the decline in the customs values of these goods has affected their prices.
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GOVERNMENT APPROVES NEW STATUS OF MATENADARAN
ARMENPRESS
May 15, 2008
YEREVAN, MAY 15, ARMENPRESS: The government has approved today the new statute of Mesrop Mashtots Institute of Old Manuscripts. Under the new statute this research institution is a state non-profit organization.
The government invalidated also its old statute adopted in 2002.
According to Education and Science Minister Levon Mkrtchian, under the new statute Matenadaran, which is also the biggest depository of old Armenian manuscripts, will have the status of a research center in addition to its status of museum.
Its scientific board will have the authorities to train related specialists. The minister said also the new statute gives special heed to expansion and strengthening of contacts with foreign institutions
and researchers.
The statute allows Matenadaran to turn into a self-financing entity. The minister said the statue had been discussed with all interested agencies receiving no objections.
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APRICOT HARVEST TO GROW UP TP FOUR TIMES IN 2008
arminfo
2008-05-14 12:29:00
ArmInfo. A total of 60 thsd tons of apricot is expected to be gathered in Armenia in 2008. This is by 4 times more than the passed year harvest, head of one of departments of Agriculture Ministry Garnik Petrosyan told ArmInfo correspondent.
He also added that favourable weather conditions are the reason of such a high harvest. They managed to gather only 15thsd tons of apricot in 2007 because of frosts, 1 thsd ton of which was exported, Petrosyan said. He also said that they are going to export 15020 thsd tons of apricot in 2008, if they manage to ensured ecessary transport communications. In particular, Armenia had exporting problems because of closing of "Verkhniy Lars" checking point at the Georgian-Russian border. If this checking point is not opened, port Kavkaz-Poti ferry-boat is an alternative for shipment of Armenian apricots. Apricots may be also exported via airplanes, but this may lead to apricot price growth. Petrosyan said that Armenian apricots are chiefly exported to Russia. Incidentally, major part of Armenian apricots is successfully sold at Moscow markets by Azerbaijanis, he said.
arminfo
2008-05-14 12:29:00
ArmInfo. A total of 60 thsd tons of apricot is expected to be gathered in Armenia in 2008. This is by 4 times more than the passed year harvest, head of one of departments of Agriculture Ministry Garnik Petrosyan told ArmInfo correspondent.
He also added that favourable weather conditions are the reason of such a high harvest. They managed to gather only 15thsd tons of apricot in 2007 because of frosts, 1 thsd ton of which was exported, Petrosyan said. He also said that they are going to export 15020 thsd tons of apricot in 2008, if they manage to ensured ecessary transport communications. In particular, Armenia had exporting problems because of closing of "Verkhniy Lars" checking point at the Georgian-Russian border. If this checking point is not opened, port Kavkaz-Poti ferry-boat is an alternative for shipment of Armenian apricots. Apricots may be also exported via airplanes, but this may lead to apricot price growth. Petrosyan said that Armenian apricots are chiefly exported to Russia. Incidentally, major part of Armenian apricots is successfully sold at Moscow markets by Azerbaijanis, he said.
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YEREVAN BRANDY FACTORY TO PURCHASE AT LEAST
30,000 TONS OF GRAPES IN 2008
ARKA
May 15, 2008
YEREVAN, May 15. /ARKA/. The Yerevan Brandy Factory intends to purchase at least 30,000 tons of grapes in 2008, Executive Director of the Yerevan Brandy Factory closed joint stock company Cedrik Retailleau said at his meeting with Armenian Minister of Agriculture David Lokian.
In 2007, the company purchased about 30,000 tons of grapes and this year the purchase volume will not be less impressive, Retailleau said as quoted by the Press Service of the Ministry of Agriculture.
The Executive Director of the company said that the sales of Armenian cognac have substantially grown especially in Russia, Kazakhstan, Ukraine and a number of European countries. The factory plans to increase the grapes purchase volume this year, particularly in Tavush region where a workshop will be established for preliminary processing, he said.
The meeting participants stressed the importance of passing a law about production of alcoholic drinks made of grapes to review the current wine-making technical regulations. Retailleau proposed to set up a wine-making association using the French experience.
According to Armenia's Ministry of Agriculture, 240,000 tons of grapes crop is expected this year against the last year 220,000 tons, including 144,000 tons purchased by processing enterprises.
The Yerevan Brandy Factory was founded in 1887. The current factory complex was put in operation in 1953. In June 1998 the factory joined the Pernod Ricard group, an international corporation owning a number of famous trademarks of alcoholic drinks and ranking the second in the world in production and sales of alcoholic drinks. The Pernod Ricard purchased the Yerevan Brandy factory for $30mln at an international tender.
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ARKA
May 15, 2008
YEREVAN, May 15. /ARKA/. The Yerevan Brandy Factory intends to purchase at least 30,000 tons of grapes in 2008, Executive Director of the Yerevan Brandy Factory closed joint stock company Cedrik Retailleau said at his meeting with Armenian Minister of Agriculture David Lokian.
In 2007, the company purchased about 30,000 tons of grapes and this year the purchase volume will not be less impressive, Retailleau said as quoted by the Press Service of the Ministry of Agriculture.
The Executive Director of the company said that the sales of Armenian cognac have substantially grown especially in Russia, Kazakhstan, Ukraine and a number of European countries. The factory plans to increase the grapes purchase volume this year, particularly in Tavush region where a workshop will be established for preliminary processing, he said.
The meeting participants stressed the importance of passing a law about production of alcoholic drinks made of grapes to review the current wine-making technical regulations. Retailleau proposed to set up a wine-making association using the French experience.
According to Armenia's Ministry of Agriculture, 240,000 tons of grapes crop is expected this year against the last year 220,000 tons, including 144,000 tons purchased by processing enterprises.
The Yerevan Brandy Factory was founded in 1887. The current factory complex was put in operation in 1953. In June 1998 the factory joined the Pernod Ricard group, an international corporation owning a number of famous trademarks of alcoholic drinks and ranking the second in the world in production and sales of alcoholic drinks. The Pernod Ricard purchased the Yerevan Brandy factory for $30mln at an international tender.
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ARMENIA TO MEET 75% OF ITS DEMAND FOR GRAIN ON ITS OWN IN 2012
Noyan Tapan
May 16, 2008
YEREVAN, MAY 16, NOYAN TAPAN. In 2007, the overall expenditures of agriculture made 8 bln drams (about 27 mln USD), 2 bln drams of which was allocated for salaries of employees in forestry and veterinary service, the RA minister of agriculture Davit Lokian said at the May 16 discussion on execution of the 2007 state budget at the National Assembly.
In his words, the ministry implemented three large programs last year. In particular, under the subsidising program in Aragatsotn and Chambarak, farmers were allocated 35 thousand drams for cultivating a hectare of land on certian conditions. Besides, pedigree animals were brought to Armenia and given to farmers. Commodity credits were givenat 0% interest rate for four years. This process will continue, and, according to the minister, another 500 pedigree animals were brought into the country in recent days. As a result of this program, it is envisaged producing up to a million tons of dairy products in Armenia in 2012. A program on grain crops' import and seed production is also underway. The states compensates for some part of the expenses: about
110 mln drams is allocated to farms. As a result of this program's implementation, in 2011 Armenia shall become a self-sufficient country in terms of wheat and corn production, while in 2012 it will reach the first degree of self-sufficiency when 75% of demand for grain ismet domestically.
Another big program of the ministry is construction of dams of the Arax River, for which about 1.4 bln drams was allocated in the autumn of 2007.
The ministry also provides credits to farms.
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Noyan Tapan
May 16, 2008
YEREVAN, MAY 16, NOYAN TAPAN. In 2007, the overall expenditures of agriculture made 8 bln drams (about 27 mln USD), 2 bln drams of which was allocated for salaries of employees in forestry and veterinary service, the RA minister of agriculture Davit Lokian said at the May 16 discussion on execution of the 2007 state budget at the National Assembly.
In his words, the ministry implemented three large programs last year. In particular, under the subsidising program in Aragatsotn and Chambarak, farmers were allocated 35 thousand drams for cultivating a hectare of land on certian conditions. Besides, pedigree animals were brought to Armenia and given to farmers. Commodity credits were givenat 0% interest rate for four years. This process will continue, and, according to the minister, another 500 pedigree animals were brought into the country in recent days. As a result of this program, it is envisaged producing up to a million tons of dairy products in Armenia in 2012. A program on grain crops' import and seed production is also underway. The states compensates for some part of the expenses: about
110 mln drams is allocated to farms. As a result of this program's implementation, in 2011 Armenia shall become a self-sufficient country in terms of wheat and corn production, while in 2012 it will reach the first degree of self-sufficiency when 75% of demand for grain ismet domestically.
Another big program of the ministry is construction of dams of the Arax River, for which about 1.4 bln drams was allocated in the autumn of 2007.
The ministry also provides credits to farms.
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