Month: February 2019

Armenian PM, Chairman of Iranian Majlis see great prospects for developing partnership

18:55,

YEREVAN, FEBRUARY 27, ARMENPRESS.  Prime Minister of Armenia Nikol Pashinyan, who is in Tehran on an official visit, met with Chairman of the Iranian Majlis Ali Larijani.

As ARMENPRESS was informed from the office of the Prime Minister of Armenia, Ali Larijani welcomed the visit of the delegation led by Pashinyan to Iran and expressed confidence that it will foster the future development of economic and political relations between the two states.

Nikol Pashinyan thanked for the warm reception and noted that the last time he visited the Iranian Majlis was when he was part of an Armenian parliamentary delegation and maintains warm and pleasant memories from that visit.

The interlocutors highly assessed the bilateral friendly relations, which continue to develop in an atmosphere of mutual understanding.

The sides considered the necessity of continuous strengthening of economic cooperation and highlighted the expansion of ties between the parliaments of the two countries for that. In this regard, the interlocutors underlined the necessity of the development of relations between the parliaments’ friendship groups, mutual visits, and noted that the cooperation of the legislative bodies also contributes to the further strengthening of Armenian-Iranian relations.

Nikol Pashinyan expressed satisfaction with the results of the meeting with Iranian President Hassan Rouhani, underlining that the Armenian side is interested in implementing the agreements reached, in particular, in the economic sphere, which will give new impetus to bilateral relations.

Ali Larijani stressed that the Iranian parliament is inclined towards expanding relations. According to him, there are great opportunities for developing cooperation both in bilateral and multilateral formats. In this context, the importance of the free trade agreement between EAEU and Iran and the ratification of the document by the parliaments were touched upon. The parties also attached importance to the promotion of cooperation in tourism and culture.

Issues related to regional issues were also discussed during the meeting.

Edited and translated by Tigran Sirekanyan

Inecobank and Blue Orchard Microfinance Fund sign 15 million USD bond agreement

19:04,

YEREVAN, FEBRUARY 27, ARMENPRESS.  Inecobank CJSC and Blue Orchard Microfinance Fund signed a subordinate debt facility agreement in the amount of 15 million USD with a seven-year maturity period on February 27, ARMENPRESS was informed from Inecobank CJSC.

“Today Inecobank, as a leading bank in Armenia in attracting funds from foreign institutions, has a highly diversified funding structure both by liabilities and share capital” points out Tigran Davtyan, CEO of Inecobank.

As reported by the bank, the funds attracted will be directed to financing the bank’s overall activities, as well as will contribute to the growth of the bank’s credit portfolio, in particular focusing on the SME segment.

“We highly value our lasting cooperation with Blue Orchard Microfinance Fund, which provides subordinated loan in Armenia for the first time. Such a long-term and productive cooperation with foreign financial institutions comes to testify the high level of trust towards Inecobank, which has been achieved thanks to the Bank’s excellent financial performance and the high standards of corporate governance practices at the Bank”, sums-up Mr. Davtyan.

A subordinated loan is a more flexible tool that enables to manage the Bank’s assets and liabilities, mainly increasing the effectiveness of capital management. With the involvement of this subordinated loan, Inecobank’s regulatory capital will make up AMD 50 billion, which will improve the position of Inecobank in the market, thus ranking it among the most capitalized banks in Armenia’s banking system.

CJSC Inecobank CJSC is one of the leading banks in the South Caucasus region, focused on individual customers, small and middle market businesses and large corporations offering a full range of banking services including break through and innovative digital banking solutions. For over 23 years the bank has been providing unmatched convenience in Armenia serving more than 400 000 customers and over 150 000 online users. Inecobank developed and delivered industry-leading digital banking solutions with the purpose of introducing an entirely new culture of banking services. • In 2009 the Bank digitalized and fully automated the “Point of Sale Loan” product, reducing the loan generation time from 3-4 days to a few minutes. • In 2012, with the introduction of InecoOnline, the Bank was one of the first to provide 24/7 banking services to its customers. • In 2014 the Bank launched InecoMobile, its Mobile banking application, which is the most popular banking application in Armenia with over 100,000 users. • In 2017, the Bank was the first to introduce a fully automated consumer lending solution through its mobile and online applications, which generates consumer loans 24 hours a day, 7 days a week. • In 2018, the Bank was the first banking institution in Armenia to introduce InecoPay, the cashless payments new system

Pashinyan, Rouhani discussed entire Armenia-Iran agenda

19:32,

YEREVAN, FEBRUARY 27, ARMENPRESS.  Prime Minister of Armenia Nikol Pashinyan, who is on an official visit in Iran, met with Iranian President Hassan Rouhani, ARMENPRESS reports the PM wrote on his Facebook page.

“I discussed the entire Armenia-Iran agenda with President of Iran Hassan Rouhani in Tehran and we reached important agreements”, the PM wrote.

Edited and translated by Tigran Sirekanyan

Armenian PM, Ayatollah Khamenei share opinion that NK conflict can be settled only through peaceful means

20:40,

YEREVAN, FEBRUARY 27, ARMENPRESS.  Prime Minister of Armenia Nikol Pashinyan met with the Supreme Leader of Iran Ayatollah Khamenei in the sidelines of his official visit to Iran.

As ARMENPRESS was informed from the office of the Prime Minister of Armenia, Ayatollah Khamenei welcomed the visit of PM Pashinyan to Iran and noted that he has been informed on the results of the talks between Pashinyan and Iranian President Hassan Rouhani.  Ayatollah Khamenei expressed support for the development of Armenian-Iranian multidimensional cooperation. He particularly highlighted the expansion and promotion of the Armenian-Iranian economic partnership.

Nikol Pashinyan thanked for the reception, emphasizing that Armenia is interested in continuous development and expansion of relations with friendly Iran.

During the meeting in warm atmosphere Nikol Pashinyan referred to the political developments in Armenia and the popular revolution.

The Supreme leader of Iran noted that he attentive followed the developments in Armenia that were peaceful and in line with democratic rules.  

During the meeting the interlocutors touched upon various regional issues. Nikol Pashinyan and Ayatollah Khamenei agreed that the comprehensive and lasting settlement of the Nagorno-Karabakh conflict is possible only through peaceful means.

Edited and translated by Tigran Sirekanyan

Pashinyan meets with Iranian-Armenians in Tehran

21:13,

YEREVAN, FEBRUARY 27, ARMENPRESS. Prime Minister of Armenia, who is on 2-day official visit in Iran, met with the representatives of the Armenian community in Iran at “Ararat” sports and culture center on February 27, ARMENPRESS reports the PM posted a selfie on his Facebook page.

In the sidelines of the visit, the Armenian PM has already held meetings with Iranian President Hassan Rouhani and Supreme Leader of Iran Ayatollah Khamenei.

On February 28 the PM will depart for Isfahan, where he will meet with the Governor and representatives of the Armenian community.

Edited and translated by Tigran Sirekanyan

Armenia takes soft drinks under excise tax

09:10,

YEREVAN, FEBRUARY 28, ARMENPRESS. The Armenian government wants to introduce an excise tax on all types of soft drinks.

According to officials, the additional tax collection will to some extent solve the budget loss problem that will be caused by the reduction of revenue tax rates and other reforms. Officials also argue that the move will also have a positive healthcare impact.

Deputy Minister of Finance Arman Poghosyan told ARMENPRESS they first considered introducing the excise tax only on soft drinks that contain 5g or more sugar per 100gram of the ingredient.

“Our initial recommendation was this, it was later revised. Now, an amended bill suggests an excise tax on all carbonated beverages, excluding mineral [soda] water and alcoholic drinks, regardless of sugar level. Our observations showed that tax administration based on sugar level can be accompanied by certain difficulties because the labels of the drinks rarely include sugar level, while carbonation is a more visible and more controllable element and tax administration can be implemented more effectively,” he said.

Asked to elaborate on the goals of the bill, Poghosyan says on one hand its purpose is to provide additional tax revenue, and on the other hand it will limit ‘harmful consumption’. The deputy finance minister says carbonated drinks and beverages with high sugar levels are bad for health.

According to Poghosyan, they conducted detailed discussions with the healthcare ministry and the World Health Organization while drafting the bill. He said they suggest having a fixed excise tax rate for all excisable soft drinks.

It wasn’t immediately clear how the excise tax will impact the market prices of soft drinks in Armenia.

The government is also currently developing a new tax code.  

Timeframes of commencing the new initiative weren’t immediately clear. 

By Anna Grigoryan

Edited and translated by Stepan Kocharyan

President of Artsakh, NSS Director of Armenia visit southern section of Artsakh-Azerbaijan borderline

10:33,

YEREVAN, FEBRUARY 28, ARMENPRESS. President of the Republic of Artsakh Bako Sahakyan and Director of the National Security Service of Armenia Artur Vanetsyan on February 27 visited the southern section of the Artsakh-Azerbaijan borderline, got acquainted with the service process of soldiers and the current situation, the Artsakh Presidential Office told Armenpress.

Thereafter, Bako Sahakyan held a working consultation on a number of issues relating to the Army-building and gave concrete instructions to the heads of the concerned structures to properly solve the discussed issues.

The President was accompanied by Artsakh’s defense minister Karen Abrahamyan, NSS Director Samvel Shahramanyan and other officials.

Edited and translated by Aneta Harutyunyan

Gyumri cops find missing child safe and sound

10:42,

YEREVAN, FEBRUARY 28, ARMENPRESS. Police officers of Gyumri, Armenia’s second largest city, have found a 14 year-old girl who was missing since February 27.

Angela Vardevanyan, a resident of Gyumri, has been found safe and unharmed.

Police did not elaborate on other details.

Edited and translated by Stepan Kocharyan