Category: 2017

ARMINFO News Agency, Armenia
Aug 25 2017
Heads of DFA and Armenian-American Business Council discussed
investment prospects with US technology companies
Yerevan August 25
Naira Badalyan. For better positioning in the eyes of the US business
circles, as well as engaging in the Armenian economy US investment in
the near future on the initiative of the Armenian Development Fund
(ADF) in the Republic of Armenia will host workshops, which will
feature the creative development of local expertise. "Immediately on
his return to Armenia, we are planning to organize a seminar 1-2,
where in one place will gather all creative thinkers," - said the
executive director of the ADF Armen Avak Avakian after round table
discussions with representatives of the American medium and large
businesses in Los Angeles.
As the press service of the FRA, during his visit to the United States
head of the organization, accompanied by Chairman of the
Armenian-American Business Council Alec Baghdasaryan visited a number
of technology companies, including "Career", "QUETICO", "Cater Truck".
The investment prospects of Armenia were discussed with the heads of
the companies.
Previously, ArmInfo reported that a presentation of investment
opportunities of Armenia was held in the American Los Angeles. Head of
ARF told US investors about the readiness of Yerevan to become an
important platform to enter the Iranian market (from $ 450 billion
GDP) and the EAEC (with $ 3 trillion of GDP). In addition, during the
presentation "Choose Armenia" in the video "Nation of Innovation", the
achievements and opportunities of the republic in the field of IT were
demonstrated. The event was held on the initiative of the Armenian
Genocide in Los Angeles. Head of the Chamber of Commerce of Los
Angeles County and Orange County, and the cities of Los Angeles and
Glendale, representatives of consulting agencies and corporate
executives, attended it.
To note, as of April 1, 2017 accumulated gross investment in Armenia
from the US amounted to 211.1 billion AMD or $ 436.6 million with an
annual growth of 13%. In particular, FDI amounted to 122.6 billion or
$ 253.6 million, with annual growth of 11%. Taking into account
repayments, gross investments amounted to over 99 billion or $ 204.8
million with annual growth of 4%, including FDI 80.5 billion AMD or $
166.5 million with an annual decline of 4%. (The calculated exchange
rate of AMD as of March 31, 2017 was 483.45 AMD).

ARMINFO News Agency, Armenia
 Saturday
In the first half of 2017, Armenia increased the volume of polished
exports by 92.5% per annum, with imports growing by 52.4%
Yerevan August 26
Alina Hovhannisyan. In the first half of 2017, Armenia sharply
increased polished exports - by 92.5% per annum, against growth of 2.3
times for the same period in 2016, and by 70% in the same period in
2015. A positive trend was also registered for the import of products
of the lapidary industry, where in quantitative terms the volumes of
supplies increased by 52.4% in the first half of 2017 (against the
growth of 2 times in the same period in 2016, and a decrease of 57% in
the same period of 2015).
According to the data of the RA Customs Service, in the first half of
the year 2017, Armenia exported 133.8 thousand carats of diamonds, the
customs value of which increased by 17.9% per annum to $ 53.1 million.
From Armenia, raw materials are exported mainly to the United Arab
Emirates (38.4%), Russia (24.3%), Belgium (19.5% %), Switzerland
(7.4%), and the rest is in the USA, Canada, and Germany.
Meanwhile, during the reporting period, 244.2 thousand carats of rough
diamonds worth $ 75.3 million (with an annual growth of 28.2%) were
imported to the republic. Primarily, rough diamonds are imported to
Armenia from the United Arab Emirates (53%), Belgium (11.1%), Russia
(8%), Switzerland (7.9%), Canada (6.8%), India (6.7%) and the rest
from Thailand, South Africa, and Hong Kong. By way of comparison, we
note that for the first half of the year in 2016 Armenia exported 69.5
thousand carats of diamonds worth $ 45 million, and imported 160.2
thousand tons of diamonds carat with a total value of $ 59 million.
Armenia does not have its own diamond deposits and imports rough
diamonds for further processing and export of diamonds mainly to the
same countries from which raw materials are imported. Traditionally,
the import of diamonds exceeds exports, which is explained in the
Ministry of Economy by their re-export to third countries. Armenia's
accession to the Eurasian Economic Union has banned the re-export of
rough diamonds.
Many international experts are inclined to believe that for almost the
whole year the precious stones market will be stable. But by the end
of the year the situation can change significantly. This is due to the
fact that recently there is a strong shortage of stones. To this state
of affairs has led to the fact that the existing resources are quite
exhausted. In other words, the resources of mines where stones are
mined are very much depleted. Worldwide, very few diamonds are
currently mined. It is this state of affairs that will lead to the
fact that the demand for these stones will increase significantly. But
the very diamond will be very small in order to fill the market.
According to some experts in the diamond market, the demand for
diamonds will be observed for a long time. Therefore, there is a great
opportunity to invest in diamonds. International experts believe that
the polished market will be quite stable until 2020. The growth in the
value of polished diamonds may be further influenced only by
macroeconomic uncertainty, which will inevitably be combined with
access to financing. But, despite this the minimum cost of precious
stones is not expected.

ARMINFO News Agency, Armenia
 Saturday
Karen Karapetyan in Gegharkunik: the process of planning community
budgets for 2018 will be held under strict supervision
Yerevan August 26
Naira Badalyan. During the first 7 months of 2017, the own incomes of
the Gegharkunik region of Armenia were fulfilled by 88%, the
performance of the regional budget increased by 12.8% compared to the
same period 2016. Karen Botoyan, the head of the regional
administration, reported this to Karen Karapetyan, the Prime Minister
of Armenia. In the city of Gavar, Gegharkunik region of the republic,
on August 25, a meeting was held under the chairmanship of the head of
the government to discuss the progress of development programs of the
region and communities, work carried out and forthcoming plans.
As the RA government press service reports, presenting the social and
economic situation in the region and macroeconomic indicators,
Governor Karen Botoyan noted that the share of Gegharkunik in
Armenia's GDP is 5%, and the GDP per capita in the region is 1 million
64 thousand 900 AMD. The volume of industrial production in 2016
amounted to 31 billion 728 million 800 thousand, per capita - 136
thousand 900 drams.
Mining is the main direction of the region's economy, and agriculture
is a priority area, Botoyan said. The volume of gross agricultural
products for the previous year was 153 billion, per capita - about 660
thousand 100 drams.
According to the head of the regional administration, 9 investment
programs were submitted to the Government from Gegharkunik for a total
of 2 billion 56 600 600 drams. Approval was given to 6 of them. The
development of tourism is also the focus of the region, Karen Botoyan
stressed. The Ministry of Territorial Administration and Development
and the Ministry of Economic Development and Investments, as well as
the Hayastan All-Armenian Fund, presented 33 investment programs that
are under discussion. As Botoyan assured, the issue of creating jobs
is at the center of attention of the administration.
With the exception of the Artsvashen community, all the others (91)
have approved development programs. All communities also have
developed digital, which provides information on the socio-economic
situation in a particular community and its investment potential.
Concerning the collection of own incomes, Prime Minister Karen
Karapetyan stressed that in this respect the lowest level in the
region is due to weak discipline. According to him, the envisaged
increase in the region's own revenues is 9%, and in the other 15-20%.
As the head of government noted, the process of planning community
budgets for 2018 will be held under strict control. "All heads of
communities should know that there can not be such that according to
the republican budget the fees were 100% and the deductions to the
communities were according to the plan, and the communities themselves
planned at their discretion," the prime minister said. "We want to
create equal partnership relations, we respect the rights of the heads
of communities, but this does not mean that they should work in the
same regime in our community, and we in the other. We generate budget
revenues as a result of working with the same citizens that the heads
of communities," he said.
The head of the Armenian Cabinet of Ministers was informed about the
progress of work in the spheres of agriculture, health, education,
recycling of garbage.

Agence France Presse
August 24, 2017 Thursday 8:59 PM GMT
Hollywood honors French singing legend Charles Aznavour
 Los Angeles, Aug 24 2017
French icon Charles Aznavour, one of the 20th century's most prolific
entertainers who continues to write and perform at 93, was honored
Thursday with a star on the Hollywood Walk of Fame.
With a career spanning eight decades, the crooner has recorded 1,400
songs -- 1,300 of which he wrote -- and produced over 390 albums in
multiple languages.
The star, who is also credited in more than 60 movies, defied
detractors who pointed to his unconventional looks to become one of
France's most iconic singers, dubbed the country's Frank Sinatra.
"Sinatra once said every song is a one-act play with one character,
and Charles is an extraordinary actor as well as an extraordinary
singer," film director Peter Bogdanovich, a friend of the star, said
at the unveiling ceremony.
Aznavour delivered a brief message thanking well-wishers, explaining
that he rarely speaks publicly in English as he doesn't feel his
command of the language is good enough.
"French is my working language but my family language is always
Armenian," he said, in front of hundreds of fans from both countries,
as well as supporters from across the world gathered outside the
historic Pantages Theater.
"After today, after that star there, I can be somebody that can say
I'm also now a little bit Californian because I have my daughter here
and my grandchildren."
Bogdanovich -- whose movies include "What's Up, Doc" and "The Last
Picture Show" -- went through some of Aznavour's most popular hits,
including "She," which he described as the greatest ever song about
women, and paid tribute to Aznavour's energy and dedication.
"That he does what he does at 93 is an inspiration to all of us. He
doesn't lack anything. He's the best," he added.
- 'An actor who sings' -
Born Shahnour Varinag Aznavourian in Paris to Armenian immigrants on
May 22, 1924, Aznavour has sold more than 100 million records.
Aznavour's parents fled the Turkish-ruled Ottoman empire to escape the
massacres being committed against their compatriots and landed in
Paris, where they were waiting for a visa to head to the United
States.
When the visa never materialized they ended up making their home in
France, producing shows which Aznavour and his sister would take part
in from a very young age.
He said in a recent interview with BBC radio he always saw himself
"more as an actor who sings than a singer who acts."
Aznavour left school early -- and said he was always uncomfortable
about his lack of higher education -- but after World War II he teamed
up with fellow French icon Edith Piaf, who took him to America and a
solo career.
As her manager and songwriter, Aznavour lived with Piaf for eight
years, once remarking he saw many of her lovers come and go but he was
not one of them as "she was not my type."
Either way, Piaf's endless badgering for Aznavour to get a nose job
eventually paid off.
"As for criticism, I have heard it all: They said I was ugly, short,
that the ill should not be allowed to sing," he once told AFP in an
interview.
"I had an exemplary career I never could have dreamed of."

ARMINFO News Agency, Armenia
 Saturday
Prime Minister of Georgia expressed his gratitude to Armenian
firefighters-rescuers
Yerevan August 26
Ani Mshetsyan. Rescue forces of the Ministry of Emergency Situations
of Armenia carried out fire extinguishing works in the Borjomi Gorge
of Georgia in three hard-to-reach places, thereby preventing the
spread of fire to neighboring settlements of Daba and Tsakhveri.
According to the press service of the Ministry of Emergency Situations
of Armenia, on August 25, Georgian Prime Minister Georgy Kvirikashvili
visited the tent camp of Armenian rescuers near the settlement of
Tsakhveri, expressing his gratitude to them.
Kvirikashvili said that the Armenian rescuers made a great
contribution to the fight against the natural disaster in Georgia.
"We all fought against the fire, I want to express my gratitude to the
Armenian people, the President of Armenia, the Prime Minister and the
Ministry of Emergency of Armenia for their assistance." We highly
appreciate what you have done for us," the Prime Minister of Georgia
said.
To note, from August 24, 4 military calculations of the Ministry of
Emergency Situations of Armenia helped the Georgian rescuers in the
work to eliminate the large-scale forest fire in the
Borzhomi-Kharakhau National Park, which broke out on August 20. The
Georgian authorities sent an application for assistance to the
international community with a request for assistance in extinguishing
the fire in Borjomi. On August 22, a column of the rescue service of
the Ministry of Emergency Situations of Armenia was sent to Georgia,
comprising 8 fire rescue and 1 rescue vehicle, one car of the Center
for Catastrophe Medicine and a mobile control center.

ARMINFO News Agency, Armenia
 Saturday
In Gegharkunik, first station of agricultural machinery was launched
within agrarian state program of subsidizing leasing framework
Yerevan August 26
Naira Badalyan. On August 25, the first station of agricultural
machinery was opened in Tsovak community of Gegharkunik region of
Armenia within the framework of the program of state support for the
provision of agricultural machinery in financial lease (leasing).
Minister of Agriculture of Armenia Ignaty Arakelyan stated at the
opening ceremony that the creation of such stations will increase the
efficiency of agriculture.
As the press service of the Ministry of Agriculture informs, the
company "FIAR GROUP" founded the station, the equipment is provided to
UCO "MSP Investments" CJSC, the supplier is "Hrashq Aigi" LLC. At the
station there are 30 units of European modern agricultural machinery,
including combine harvester and tractor, which will be provided to
land users for rent for agricultural work.
According to the minister, the implementation of such projects will
have a long-term nature. The regional manager for the export line of
the leading machine-building company "CLAAS" Thomas Shtigler noted the
importance of the correct choice of agricultural machinery taking into
account the specificity of the relief of Armenia.
Earlier ArmInfo informed, starting from March 27, reception of
applications for participation in the program on provision of
agricultural machinery in leasing started in Armenia. According to the
program approved by the Cabinet, farmers will be able to purchase
agricultural equipment on the following conditions: advance payment -
20%, interest rate - 2% per annum, maturity - 3-10 years, depending on
the type of equipment. Another 7% will be subsidized by the state. As
a result, it is expected that in 2017 about 2.2 billion drams will be
allocated for the purchase of agricultural machinery. Under this state
program, it is possible to purchase tractors of different brands,
combine harvesters, balers, seeders, plows, mowers, potato-sowers,
potato diggers, cultivators, trucks, sprayers and other agricultural
equipment.
On May 18, at a meeting of the Cabinet of Ministers, a plan was
approved for organizing a state-private machine and tractor station
(MTS). As Ignaty Arakelyan noted, earlier, the department started
accepting applications for participation in the program for the
organization of the station. Only one company, Idas LLC, responded to
the state's proposal. In this regard, the minister suggested 700
million drams from the government's reserve fund in the first half of
2017 for the implementation of the program and the purchase of the
necessary agricultural machinery. The Ministry of Agriculture will
provide this equipment on a gratuitous basis to the Agricultural
Development Fund for further allocation to farmers. For their part,
private traders will invest 242 million drams. After 4 years, the
minister said, the funds will be returned with interest, in the amount
of 926 million.
According to the Financial Rating of Banks and Credit Companies of
Armenia as of June 30, 2017, prepared by NA ArmInfo, the total volume
of leasing operations amounted to 15.6 billion, the lion's share of
which falls on ACBA Leasing - 12.3 billion drams. A year ago, as of
June 30, 2016, the total volume of leasing operations was higher -
16.5 billion drams, of which ACBA Leasing accounted for 12.6 billion
drams. As of January 1, 2017, the total volume of leasing operations
was 16.7 bln drams, incl. ACBA Leasing - 13.1 billion drams. In 2016,
the total volume of leasing operations grew by 10%, and only the ACBA
Leasing portfolio increased by 11%. From Armenian banks, leasing
operations are carried out by Ameriabank, Araratbank, Converse Bank
and VTB Bank (Armenia), and there are three leasing companies - ACBA
Leasing, Agroleasing and Unileasing. The volume of leasing operations
ACBA Leasing is reflected in the consolidated balance sheet of
ACBA-Credit Agricole.