13:47 10/03/2010

First loan agreement on Yerevan Metro Rehabilitation Project signed

The first loan agreement, with participation of the European Bank for Reconstruction and Development (EBRD), was reached today to cover immediate rehabilitation needs including safety upgrades of Yerevan Matro in the frames of Yerevan Metro Rehabilitation Project. The investment is part of the plan to improve and reform public transport services in the capital of Armenia. Besides the loan package worth €15 mln., the EBRD shareholders’ special fund will allocate €1 mln. ...

11:57 09/03/2010

Vatan: Turkish-American armed-trade deal a success

Boeing Co. (BA) is trending lower in late morning trading, down near 1%, after announcing earlier that it had finalized an order with Turkish Airlines for 20 new 737s. The order is worth about $1.6 billion at current list prices. Turkish Vatan newspaper reported that earlier the deal was threatened to be failed after the U.S. House of Representatives adopted Armenian Genocide Resolution. But currently it’s clear that irrespective of some political motivation the deal has been ...

17:12 03/03/2010

Georgia’s President hails reopening of Upper Lars

  Georgian President Mikheil Saakashvili has hailed the opening of Kazbegi-Upper Lars border crossing point; Arminfo news agency reported citing Georgian President’s press speaker Manana Manjgaladze.   “It will be the only legal border point on our territory with Russia and by reopening this the Russian side indirectly recognizes that the total embargo policy, begun in 2005, has not been successful,” the press speaker said at a special press ...

10:53 01/03/2010

Georgian-Russian border reopened

The only usable land border crossing between Georgia and Russia reopened Monday after more than three years of closure, restoring a vital route between Russia and the strategic South Caucasus . The crossing, known as Verkhny Lars in Russia and Darial Gorge in Georgia, reopened at 7:00 am local time (0300 GMT),  foreign media reported. The checkpoint runs through a narrow pass in the Caucasus Mountains, about 170 kilometers (105 miles) from the Georgian capital ...

16:31 26/02/2010

Nabucco pipeline to consider GDF Suez participation

Partners in the Nabucco pipeline will consider an application by France’s GDF Suez SA to join the project, Turkish Energy Minister Taner Yildiz said today, according to neftegaz.ru. Note that Christian Dolezal, a spokeswoman for OMV AG said in Vienna: “The doors are open to France -- a possible participation of GDF Suez in this project would definitely be welcomed.” “The consortium is open for a seventh partner if he further strengthens the project,” ...

12:18 26/02/2010

Armenian President signs decree on D. Harutyunyan’s resignation

Armenian President Serzh Sargsyan signed a decree on the resignation of Chairman of the RA Commission for Protection of Economic Competition David Harutyunyan February 25, President’s press service reported. Panorama.am recalls that the Chairman of the RA Commission for Protection of Economic Competition handed in his resignation to the RA President over assuming another post. David Harutyunyan was appointed as Commission Chairman on October 23, 2009 on a five-year term. ...

14:52 25/02/2010

Chairman of Armenia’s Commission for Protection of Economic Competition resigns

The Chairman of Armenia’s Commission for Protection of Economic Competition David Harutyunyan handed in his resignation to the RA President, the Commission press secretary Armine Udumyan told Panorama.am. "He has resigned over assuming another post," the press secretary said. Harutyunyan is due to continue performing his duties as long as the President has not made a resolution on accepting his resignation. David Harutyunyan was appointed as Commission Chairman on ...

18:22 24/02/2010

World trade falls by 12%, worst decline since 1945

World trade fell by 12 percent last year amid the economic crisis, the worst decline in more than six decades since 1945, the World Trade Organization (WTO) chief said on Wednesday, according to foreign media. "World trade was reduced by 12 percent in 2009," Pascal Lamy said at a breakfast policy briefing hosted by the European Policy Centre, a Brussels-based think tank, adding it was the "sharpest decline" since the end of the Second World War. The WTO had ...

16:43 24/02/2010

NKR President visits Stepanakert airport

On 24 February President of the Nagorno-Karabakh Republic Bako Sahakyan visited Stepanakert airport, central information department of NKR President's office reported. The President got acquainted with construction of the airport passenger complex. Bako Sahakyan expressed satisfaction over the quality of the carried out activities, noting the importance of putting the airport in commission in accordance with the set timetable. NKR PM Ara Haroutyunyan, minister of municipal ...

12:52 20/02/2010

Armenian Minister of Finance says economy is in stage of mending

Armenian economy entered the stage of mending. Armenian Minister of Finance Tigran Davtyan told at “Bridge” 7 th international economic conference.   He stated irrespective of the crisis the economic condition in Armenia in 2009 remained stable and manageable. Finance minister stated that Armenia managed to challenge the difficulties of economic crisis.         Minister Davtyan said that Armenian ...