12:19,
YEREVAN, SEPTEMBER 15, ARMENPRESS. The Board of the Central Bank of Armenia has cut the re-financing rate by 0,25 pp and set it at 4,25, the cenbank said in a news release.
The Lombard rate is set at 5,75%, while the Deposit Rate is set at 2,75%.
Editing by Stepan Kocharyan
12:24,
YEREVAN, SEPTEMBER 15, ARMENPRESS. A fire erupted in a futuristic seafront building in downtown Beirut on September 15 that was close to completion after years of construction, Reuters reports.
Lebanese broadcaster al-Jadeed earlier showed images of smoke billowing from the building.
A Reuters witness said part of one side of the building was smouldering as firefighters hosed it down.
Last week, a big fire broke out at Beirut port, the scene of the catastrophic Aug. 4 explosion.
12:48,
YEREVAN, SEPTEMBER 15, ARMENPRESS. All three candidates nominated to the three vacant positions of Constitutional Court judges were confirmed to the posts by parliament.
The three candidates – Yervand Khundkaryan, Artur Vagharshyan and Edgar Shatiryan, were nominated by the General Assembly of Judges, the President of Armenia Armen Sarkissian, and the Cabinet respectively.
All three candidates passed the confirmation vote with near-unanimous results. However, the two opposition parties – Prosperous Armenia (BHK) and Bright Armenia (LHK), boycotted the voting, claiming that the entire process is taking place with violations.
The three justices will officially assume office in an inauguration ceremony in parliament.
Yervand Khundkaryan, Artur Vagharshyan and Edgar Shatiryan were nominated for the positions to replace justices Felix Tokhyan, Hrant Nazaryan, and Alvina Gyulumyan, who were ousted after the parliament passed on June 22 the ruling bloc’s constitutional amendments on suspending their powers. The chief justice of the high court, Hrayr Tovmasyan, was also suspended. His position remains vacant.
Reporting by Anna Grigoryan; Editing and Translating by Stepan Kocharyan
14:27,
YEREVAN, SEPTEMBER 15, ARMENPRESS. As Beirut was still struggling to recover from the trauma inflicted from the August 4 explosion of 2,750 tons of ammonium nitrate at the city’s port when at least 192 people were killed, more than 6,000 injured, and homes and other property were devastated for many miles around, the Lebanese capital was hit by two fires again – one near the same place in the port, and the other on September 15 at a commercial district.
Now, after the most recent fire, two prominent Lebanese-Armenian figures are suspecting that the incidents involve some kind of foul play.
Beirut-based Aztag Daily’s Editor-in-Chief Shahan Kandaharian told ARMENPRESS that authorities haven’t yet determined the cause of the September 15 brief fire in the commercial building.
“Fortunately there was no explosion here, however, these similar successive incidents are creating a very bad mood. After what happened a month ago, these fires give reason for suspicions, and also create somewhat panic and a difficult psychological situation,” Kandaharian said.
Sevak Hakobian, the Editor-in-Chief of another Beirut-based newspaper – Zartonk – told ARMENPRESS that it would be “naïve” to consider that all these incidents happened coincidentally.
“Three incidents in one month, the explosion in the port, then a fire in the same port, and now a fire in a commercial building.[Authorities] haven’t yet announced the cause of the fire, but I think that this all is happening in an atmosphere of general pressure,” Hakobyan said.
Neither Kandaharian nor Hakobyan elaborated.
Reporting by Lilit Demuryan; Editing and Translating by Stepan Kocharyan
15:12,
YEREVAN, SEPTEMBER 15, ARMENPRESS. During the official visit to Egypt the Armenian Foreign Minister Zohrab Mnatsakanyan had a meeting on September 15 with Secretary-General of the League of Arab States Ahmed Aboul Gheit.
“Minister Mnatsakanyan noted that this meeting is a good opportunity to revalue the cooperation between Armenia and the League of Arab States and to outline the prospects of enhancing it. Both sides were pleased to underscore the role of Armenian communities in strengthening relations between Armenia and the Arab world.
The FM and the Arab League Secretary-General addressed the ongoing developments in Middle East, North Africa and South Caucasus. Both sides expressed concern regarding provocations and actions aimed at disrupting security and stability in these regions, and emphasized the importance of the international community’s united steps aimed at preserving and strenghening peace and stability in the regions.
The FM briefed his interlocutor on Armenia’s principled position and approach over the peaceful settlement of the NK conflict. The current situation around the Palestinian issue was also addressed, and the Armenian FM also attached importance to the efforts aimed at resolving the humanitarian issues of Lebanon and Syria,” the foreign ministry said in a news release.
Editing and Translating by Stepan Kocharyan
16:30,
YEREVAN, SEPTEMBER 15, ARMENPRESS. Armenia’s Central Bank has information that some commercial banks have already started reducing the interest rates of deposits. In other words, new deposits are attracted at lower interest rates, CBA President Martin Galstyan told reporters today.
“As for the possible influence of the reduction of refinancing rate on the loans, it’s difficult to make any notifications, because, in fact, uncertainty still remains in the economy. In terms of restraining the risks banks can carry out various policies”, he said.
During today’s session the Board of the Central Bank of Armenia decided to reduce the refinancing rate by 0.25%, setting it at 4.25%.
Editing and Translating by Aneta Harutyunyan
17:23,
YEREVAN, SEPTEMBER 15, ARMENPRESS. According to the forecasts of the Central Bank, Armenia will have 4-5% economic growth in 2021, CBA President Martin Galstyan told reporters today.
“The 6.2% decline forecast by us for this year will be followed by nearly 5% economic growth in 2021. We expect that all spheres will record a positive growth, for instance, we expect for the services field to have 4.2% growth, agriculture – 3.2%, industry – 5%”, he said.
Touching upon the current economic activity in some sectors, the CBA President said in case of industry they were predicting 2.2% decline, but at this moment it is 2%. There is a positive progress in terms of industry, which is connected with the export of raw materials, as well as the high prices registered in the international market. But, in line with this, there is a major decline in the construction sector -18.7%.
“I would like to note that here there is also a statistical problem. Construction is registered when it is over, the ongoing construction is not registered in the statistics. Therefore, there can be cases when we see construction works, but they are not recorded statistically”, he said.
Editing and Translating by Aneta Harutyunyan
17:32,
YEREVAN, 15 SEPTEMBER, ARMENPRESS. The Central Bank of Armenia informs “Armenpress” that today, 15 September, USD exchange rate down by 1.06 drams to 485.31 drams. EUR exchange rate down by 0.04 drams to 576.60 drams. Russian Ruble exchange rate stood at 6.46 drams. GBP exchange rate up by 1.02 drams to 625.86 drams.
The Central Bank has set the following prices for precious metals.
Gold price up by 109.95 drams to 30561.75 drams. Silver price down by 0.76 drams to 419.49 drams. Platinum price up by 249.19 drams to 14776.11 drams.
16:34,
YEREVAN, SEPTEMBER 15, ARMENPRESS. Shortly after the Central Bank announced that it is cutting the refinancing rate by 0,25 pp and setting it at 4,25, its President Martin Galstyan said at a news conference that 0,1% deflation was recorded in August 2020 against the August 2019’s 0,4%. He said the 12-months inflation to some extent grew and comprised 1,1%.
Given the low inflation environment, as well as certain delay of external and domestic demand’s restoration, the cenbank board found it appropriate to cut the refinancing rate.
In the event of expected economic development the board is inclined to further reduce monetary policy.
“Let me say that during Q3 the external sector is recording certain restoration of global economy, however it is assessed that the uncertainties regarding the final overcoming of the pandemic will significantly suppress and delay the restoration of complete demand and economic activity in Armenia’s main partner countries,” he said. The cenbank assesses that the external sector won’t display inflation impact on the Armenian economy.
In Q1 the factually recorded economic growth in Armenia was within the framework of the cenbank’s projections. Galstyan said the low indicator of economic activity in July 2020 was associated with the services sector being cut.
“In light of the mentioned developments, the lasting big uncertainty regarding the timeframes of when the pandemic will be overcome and the society’s cautious consumer and investment behavior in this regard, it is assessed that the domestic demand and economic activity in the coming quarters will be restored slower than expected,” he said.
Editing and Translating by Stepan Kocharyan
17:38,
YEREVAN, SEPTEMBER 15, ARMENPRESS. The Middle East has an important security significance for Armenia, and the Armenian foreign minister’s visit to the region, his meetings are the vivid evidence of this, Member of Parliament from the ruling My Step faction Tatevik Hayrapetyan said, commenting on the recent visit of Armenian FM Zohrab Mnatsakanyan to the Middle East, his meetings and key political messages voiced during these meetings.
“The significance of the Middle East is in particular increasing, taking into account the security interests. In fact, with this visit, also through the upcoming visits the foreign ministry is launching a new Middle East strategy. This strategy is definitely based on Armenia’s state and security interest. And the development of joint agenda with our partners of the Middle East, the deepening of mutually beneficial partnership is very important for strengthening our positions also in this region”, she said.
Armenian Foreign Minister Zohrab Mnatsakanyan recently paid an official visit to Egypt.
Reporting by Anna Grigoryan; Editing and Translating by Aneta Harutyunyan