In 2015 Geoteam CJSC under the corporate social responsibility program (CSR) has invested 240 thousand USD in development of social educational structures, improvement of urban infrastructure and support of small businesses in the communities of its operational activities.
It is not correct to directly compare the railways of Armenia and Russia, Vardan Aloyan, head of the Public Relations Department of the South Caucasus Railway (SCR) CJSC, says in an interview with ArmInfo when commenting on the remarks that the transportation tariffs in Armenia are much higher than in Russia.
Qatar Airways will start operating Yerevan-Doha regular flights in 2016. "Armenia" International Airports" CJSC has successfully completed negotiations with Qatar Airways. Recently the negotiations were most active after "Etihad" Airlines announced its intention to suspend flights to Armenia.
Air Armenia intends to appeal against the court decision on recognizing the company as a bankrupt, the press secretary of the airline company Sirakan Hambardzumyan told ArmInfo.
Eurasian Economic Commission Board will study possible restrictions on the tax-free international online trade, according to the Russian newspapers Vedomosti and Kommersant.
The authors of Armenia's basic economic document for 2016 have displayed restraint and realism when drafting the budget of 2016, Doctor of Economics, Professor Vardan Bostanjyan said at a press conference on November 23.
Reducing the upper ceiling for the tax-free import into the Eurasian Economic Union (EEU) countries from foreign online shops from the current 1,000 EUR to 150 EUR is quite logical and is aimed at stimulation of turnover growth among the EEU member countries, economist Vardan Bostanjyan expressed such opinion in his talk with journalists.
"Let's Live till Monday" - this is the key idea of the budget 2016, Leader of the New Times Party Aram Karapetyan said at a press conference on November 23. He added that over the past few years everything has been built on this principle in Armenia.
China and Armenia maintain a high level of political confidence and the countries are ready to discuss the prospects of promotion of the cooperation in the context of the Silk Road project, Mr. Luo Shixiong, Political Advisor at the Chinese Embassy in Armenia, told reporters at the opening of the forum "Silk Road of XXI Century: Prospects of Cooperation".
The Institute of Botany recently opened a new glasshouse and outdoor rockery at Sevan Botanical Garden. The press office of Geoteam CJSC has told ArmInfo that this is the first visible step in a comprehensive program to preserve Amulsar population of Potentilla porphyrantha. The work is being undertaken by Geoteam CJSC in cooperation with the Institute of Botany of the National Academy of Sciences of Armenia, Treweek Environmental Consultants (UK) and Cambridge University Botanical Garden (UK).
Decline in losses in energy system cannot be considered as basis for reducing the tariffs on electricity, the Minister of Energy and Natural Resources Yervand Zakharyan said at the parliament on November 18.
Given the inflation, it will be impossible to ensure the targeted 2.2% economic growth in 2016, lawmaker from the opposition Armenian National Congress Faction, ex-prime minister of Armenia Hrant Bagratyan said.
The goal of the discussions is to create a favorable investment environment in Armenia, U.S. Ambassador to Armenia Richard Mills told reporters during the opening of the first meeting of the U.S.-Armenia Council on Trade and Investment on November 17.
Fighting corruption and ensuring equal competition depend on systemic changes, Minister of Economy Karen Chshmarityan told reports on sidelines of the first meeting of the U.S.-Armenia Council on Trade and Investment, in Yerevan, on Nov 17, when commenting on U.S. Ambassador Richard Mill's statement in an interview with RFE/RL Armenian Service on overall corruption in Armenia.
It will be possible to speak of real investments and dates of implementation of the Iran-Armenia railway project after the feasibility study of the project is prepared, Chinese Ambassador to Armenia Tian Erlong told reporters on November 16, on the sidelines of the workshop on Chinese-Armenian cooperation in the light of creation of the Silk Road Economic Belt. He stressed that at the current stage two Chinese companies are conducting the feasibility study of the project on a non-repayable basis to see the expediency of the Iran-Armenia railway project.
Freight activity at the South Caucasus Railway (SCR) CJSC has been showing downward trend since the beginning of the year, Sergey Valko, General Manager at SCR said during a conference call on Nov 9, the Company's press-office said. Sergey Valko said the company shows improvement of a range of qualitative indicators, including reduction of the train delay by 134 hours or 40%. "Our goal is to ensure a 100% scheduled running," Valko said.
Losses in the energy system has showed downward trend by late October, David Grigoryan, Technical Director at Electric Networks of Armenia (ENA) told ArmInfo on November 11.
In 2016, the state budget of 2016 will allocate 350 mln to compensate for the damage related to the traffic of the South Caucasus Railway (SCR) CJSC (versus 588 mln AMD in the previous year), Armenian Minister of Transport and Communication Gagik Beglaryan said at today's parliamentary hearings on the draft state budget of 2016.
Shifting from the clause-by-clause state budgeting to program budgeting is one of the key measures to increase the efficiency of budget expenditures. Hrant Bagratyan, politician, economist, former prime minister of Armenia, made such statement commenting to ArmInfo on the statement by Deputy Minister of Finance Pavel Safaryan saying that in 2018 Armenia will fully switch to a program budgeting system. At the same time, Bagratyan recommends not to smarten up with the idea too much.
"The Eurasian Economic Union (EEU) should eventually become one of the global economic centers," Ara Nranyan, member of the Board (Minister) of the Eurasian Economic Commission, said during the First Youth Economic Forum "Russia and Armenia: New Drivers of Integration."
The renovation operations at the Stepanavan Airport will be over in 2016, Armenian Minister of Territorial Administration and Emergency Situations Armen Yeritsyan told journalists on November 2.
The draft 2016 state budget is defeatist, former Foreign Minister of Armenia, MP Vartan Oskanian thinks. "I followed today the discussions of the budget in the National Assembly of Armenia and I agree with MP Hrant Bagratyan's opinion, that this is a defeatist budget. I also agree that it has already become boring that the Armenian Government since 2008 has been trying to impose its failures and nonfeasance on external factors.
Government should not stay aside and leave the development of the most important sectors of economy to the discretion of economic entities, Vazgen Safayan, the head of the Union of Local Manufacturers of Armenia told ArmInfo.
Eurasian Development Bank (EDB) has failed to explain clearly why the information partners of the ongoing 10th International Conference for Eurasian Economic Integration in Moscow are only the Russian mass media and whether such a stance of the Bank does not run contrary to principles and goals of integration processes.
Tashir Foundation on a parity basis with the Armenia's Government will compensate for the rising tariff of electricity at the price of 6.93 AMD for KWh till July 31, 2016, Yervand Zakharyan, Minister of Energy and Natural resources announced at the Armenian Government's session on October 29. According to the Minister, the compensation, which was approved today, will come into force post factum from August 1, from the moment of price hike and will last till July 31, 2016.
The Armenian Government has approved a draft agreement with the Asian Development Bank. Under the agreement, the country is to receive a $112.97 mln tranche for the North-South transport corridor project.
Armenia improves its positions in WB Doing Business 2016 report by 10 points, taking the 35th place out of 189 countries. Armenia has been the leader among the CIS countries in the given rating for a second year already, Minister of Economy Karen Chshmarityan briefed on media on October 29.
The South Caucasus Railway (SCR) has repaired the first of the 14 ChME3 shunting diesel locomotives and this is the first successful practice of depot repair of such kind of locomotives at the material and technical facilities in Armenia.
The Armenian Nuclear Power Plant has resumed the electric power supply in the republic, the press office of the Armenian Ministry of Energy and Natural Resources reports.
President of Tashir Group Samvet Karapetyan, the new owner of the Electric Networks of Armenia (ENA) CJSC, has made a statement unveiling the strategy of upcoming reforms at ENA.
Karen Haroutiunyan has been appointed Director General of the Electric Networks of Armenia (ENA), Spokesperson of the company Natalia Sarjanyan told ArmInfo.