http://arka.am Thu, 17 May 2012 11:17:41 +0400 60 http://arka.am/upload/iblock/317/31722d9f6f94a664dca028d9d20017ea.png http://arka.am 247 58 http://arka.am/en/news/society/scr_official_and_deputy_district_prefect_discuss_sanitary_state_of_railway_section/ The chief engineer of Russian-run South Caucasian Railways &#40;SCR&#41;, Sergey Harutyunyan and vice-prefect of Shengavit administrative district of Yerevan, Frunz Basentsyan, traveled along a section of the railway that runs from Noragavit station in the district to Masis station to look into its sanitary condition.<br /> Society/ <div>YEREVAN, May 16. /ARKA/. The chief engineer of Russian-run South Caucasian Railways (SCR), Sergey Harutyunyan and vice-prefect of Shengavit administrative district of Yerevan, Frunz Basentsyan, traveled along a section of the railway that runs from Noragavit station in the district to Masis station to look into its sanitary condition, the press service of the company told ARKA.</div> <div> <br /> </div> <div>The chief engineer drew attention to the fact that residents of the district dumped the garbage near the railways and the growing piles of garbage threaten the ecology of the district. He said the garbage may pose also a threat to the safety of trains.</div> <div> <br /> </div> <div>They also discussed how to prevent unauthorized crossing of railway tracks by residents of nearby houses.-0-</div> <div> <br /> </div> Wed, 16 May 2012 17:41:34 +0400 http://arka.am/en/news/economy/armenia_customs_union_cooperation_format_in_discussion_pm_says/ Different format of cooperation between Armenia and Customs Union is currently in the active phase of the discussion, according to the article written by Armenian Prime Minister Tigran Sargsyan in Russian Vedomosti newspaper. Economy/ <div>YEREVAN, May 16. /ARKA/. Different format of cooperation between Armenia and Customs Union is currently in the active phase of the discussion, according to the article written by Armenian Prime Minister Tigran Sargsyan in Russian Vedomosti newspaper.</div> <div> <br /> </div> <div>&ldquo;We have always supported the process of deepening economic ties within CIS and EurAsEC. At the same time our membership to the Customs Union is inappropriate, as we have common borders neither with Russia and Kazakhstan nor Belarus. However, on the platform of this union we can have some other mutually beneficial forms of cooperation. We need stimuli for integration: there is a so-called experience of “ remote areas&rdquo;, when the latter cooperate with the union under softer conditions, and receive definite benefits and subsidies. We have proposed to design a special format of cooperation between Armenia and Customs Union, which is in the phase of active discussion,” Sargsyan clarified. </div> <div> <br /> </div> <div>Armenian PM thinks that integration is a long-lasting process that is based on economic stimuli and compromises.</div> <div> <br /> </div> <div>He also said the country&rsquo;s economy can fully function if it expands its economic geographical cooperation, and integration processes in the framework of CIS, EurAsEC, and now European Union are mutually complementary. </div> <div> <br /> </div> <div>“Thus, there can’t be any inconsistency in the fact that Armenia launches negotiations with the EU while staying committed to integration within the former USSR,” he said.</div> <div> <br /> </div> <div>The head of Armenian government added that CIS had undergone through the tense period casting doubt on the future perspectives. </div> <div>“Nevertheless, the agreement on free trade area within the CIS, signed last year in St. Petersburg and ratified recently by Russia, confirmed the real necessity of processing further integration,” Sargsyan said. </div> <div> <br /> </div> <div>According to him, the agreement authorizes setting better conditions for selling goods in a single economic space, reducing the tariffs on import and export or not charging at all, launching single license regulations. It also includes precise and even austere subsidizing rules meeting world standards. </div> <div> <br /> </div> <div>“On the other hand, new forms of cooperation establish fair principles among CIS state members. No one will allow another county to abuse the regulations within the single economic space,” Sargsyan said adding that due to different levels of social-economic development of the counties it will be hard to reach the parity, and it will be the main challenge for all those interested in the integration. </div> <div> <br /> </div> <div>These issues can be solved if the states are committed to rational co-existence in the fast changing modern world, where the processes of economic standardization should be accelerated too.</div> <div> <br /> </div> <div>“Single, and comprehensive for everybody, rules will allow to save milliards spent on transaction fees, increase trade and provide the consumers with secure and high-level goods and services,” Sargsyan highlighted.</div> <div> <br /> </div> <div>Armenian PM also clarified that the configuration of the global markets is constantly changing nowadays. </div> <div> <br /> </div> <div>“In this context we should construct new formats of relations that would set favorable conditions for household subjects,” he said adding that while thinking about future Armenia should modernize institutions serving to form convenient infrastructure for the further integration. </div> <div> <br /> </div> <div>“First of all we should introduce single standards and strictly control the other members to follow the established regulations,” the Prime Minister said.</div> <div> <br /> </div> <div>According to him, it is important to make joint steps towards assisting the states that stayed behind in their development unleashing their potential for the economic growth.</div> <div> <br /> </div> <div>Integration should be benefited by all state, otherwise integration just for integration makes no sense, he concluded. -0-</div> Wed, 16 May 2012 15:06:43 +0400 http://arka.am/en/news/politics/armenian_prime_minister_congratulates_new_french_counterpart/ Armenian Prime Minister Tigran Sargsyan sent a message of congratulation to French Prime Minister Jean-Marc Ayrault on taking office. Politics/ <div>YEREVAN, May 16, /ARKA/. Armenian Prime Minister Tigran Sargsyan sent a message of congratulation to French Prime Minister Jean-Marc Ayrault on taking office. </div> <div> <br /> </div> <div>&ldquo;I sincerely congratulate you and wish all the best in connection with taking the office of prime minister,&rsquo; he was quoted as saying by the government press office.</div> <div> <br /> </div> <div>Sargsyan also expressed hope that in his new capacity Jean-Marc Ayrault will help build up friendly relations between France and Armenia.</div> <div> <br /> </div> <div>Ayrault, a 62-year-old former German teacher, lawmaker and longtime ally of president Hollande, has never previously held a ministerial post, but he is mayor of Nantes, a veteran parliamentarian. He was named to the job of prime minister over other potential candidates, including Socialist Party leader and former labour minister Martine Aubry, who reportedly refused to join the cabinet if she did not get the top job. -0-</div> <div> <br /> </div> Wed, 16 May 2012 15:04:51 +0400 http://arka.am/en/news/politics/armenia_to_be_challenged_with_introducing_european_standards_within_next_2_3_years_pm/ Armenia will need to be very scrupulous to introduce European standards in the country within the next 2-3 years, according to the article written by Armenian Prime Minister Tigran Sargsyan in Russian Vedomosti newspaper. Politics/ <div>YEREVAN, May 16. /ARKA/. Armenia will need to be very scrupulous to introduce European standards in the country within the next 2-3 years, according to the article written by Armenian Prime Minister Tigran Sargsyan in Russian Vedomosti newspaper. </div> <div> <br /> </div> <div>&ldquo;Armenia and EU have recently set in motion the process of signing an agreement on a deep and comprehensive free trade area. Everyone knows that European standards dictate high level for producing, storing, transporting and selling goods,&rdquo; the Prime Minister noted. </div> <div> <br /> </div> <div>According to him, in order to not fall short of the standards, Armenia has to change technical and technological processes, domestic control management and trading cycles- economy should face some serious modifications. </div> <div> <br /> </div> <div>“We should make our legislative field, control over food security meeting European standards, and this is the aim of our negotiations with the EU,” he pointed out.</div> <div> <br /> </div> <div>Sargsyan noted that Armenia will have to face really required but tense process, as the country&rsquo;s consumers must have no doubts of the quality level of the goods produced in Armenia. </div> <div> <br /> </div> <div>He said the Accords on free trade area with the EU will enable Armenia to increase export and import, while reducing foreign trade deficit significantly. Ukraine and Moldova also intend to enter the free trade area with Europe what is important for Armenia, as the country has a serious potential for entering the global market as producing eco-goods, he clarified. </div> <div> <br /> </div> <div>The free trade area talks between Armenia and EU Commission for Trade, made up of 27 member states, were formally opened on February 29. The agreement would entitle Armenia to diversify the export structure and enter the European market under the favorable conditions. </div> <div> <br /> </div> <div>On January 1, 2009, Armenia became one of the states that enjoy GSP+ (Generalized System of Preferences) for three years. GSP+, offered to a restricted number of states that meet European criteria and requirements, allows the countries to export about 6,400 product items to the European market at reduced tariffs or with exemption from customs duties. </div> <div> <br /> </div> <div>The association talks between Armenia and EU were formally opened on July 19, 2010. &mdash;0-</div> Wed, 16 May 2012 13:43:48 +0400 http://arka.am/en/news/politics/putin_cis_states_remain_russia_s_main_strategic_partners/ Russia’s newly-elected President Vladimir Putin said during the opening of CIS informal summit that the Commonwealth states remain the main strategic partners of Russia. Politics/ <div>YEREVAN, May 16. /ARKA/. Russia&rsquo;s newly-elected President Vladimir Putin said during the opening of CIS informal summit that the Commonwealth states remain the main strategic partners of Russia.</div> <div> <br /> </div> <div>&ldquo;I would like to highlight once again that CIS member-states are our closest strategic partners. All aspects of cooperation with you are vital for our country,&rdquo; RIA Novosti quotes Putin. </div> <div> <br /> </div> <div>Particularly, in this context he referred to social and economic development, enhance of humanitarian ties and cooperation at the international arena. </div> <div> <br /> </div> <div>Putin noted that CIS and earlier CSTO summits were the first major international events held in Russia following the presidential elections. </div> <div> <br /> </div> <div>“We really have much in common, first of all, durable friendship tradition and friendly neighborhood within our nations. We have common past, common centuries. And of course the relatively recent Great Patriotic War unites us all, and its victory we have celebrated not long ago,” the President said. </div> <div> <br /> </div> <div>He added that CIS states preserve close economic inter-regional and cultural ties. </div> <div> <br /> </div> <div>“Actually we are developing efficiently, and we can’t function without each other,” Putin pointed out. </div> <div> <br /> </div> <div>According to him, nowadays CIS is challenged by the common economic issues as well as establishment of a new, more fair world order. </div> <div>Putin reminded that CIS officials have made quite effective steps to deepen the cooperation on the post-soviet area. He referred to Free Trade Zone Agreement, Customs Union, Single Economic Space, CSTO, Union State of Russia and Belarus, and others. </div> <div> <br /> </div> <div>He also added that forming a single economic and humanitarian space, modernizing regional security system, improving international authority of the organization will foster the further cooperation within CIS, which should be prioritized. --0--</div> <div> <br /> </div> Wed, 16 May 2012 13:42:06 +0400 http://arka.am/en/news/in_the_world/gm_says_facebook_ads_don_t_pay_off/ General Motors Co. plans to stop advertising with Facebook Inc. after deciding that paid ads on the site have little impact on consumers&#39; car purchases, The Wall Street Journal reports referring to a GM official. In the world/ <div>YEREVAN, May 16. /ARKA/. General Motors Co. plans to stop advertising with Facebook Inc. after deciding that paid ads on the site have little impact on consumers' car purchases, The Wall Street Journal reports referring to a GM official.</div> <div> <br /> </div> <div>The move by GM, one of the largest advertisers in the U.S., puts a spotlight on an issue that many marketers have been raising: whether ads on Facebook help them sell more products. On Friday, Facebook is expected to sell shares in an initial public offering that could put a market value on the company of as much as $104 billion.</div> <div> <br /> </div> <div>Executives have spent the last two weeks trying to convince investors that its advertising business makes it worthy of a sky-high valuation.</div> <div> <br /> </div> <div>GM will continue to promote its products on Facebook, but without paying the social-media company, the GM official and other people familiar with the matter said. Many companies maintain free Facebook pages.</div> <div> <br /> </div> <div>GM's decision raises questions about the ability of Facebook to sustain the 88% revenue growth achieved in 2011. Facebook said last month its first-quarter ad revenue was down 7.5% fr om the previous three months. Facebook blamed "seasonal trends" for the decline, as well as a greater number of users from outside the U.S., wh ere ad rates are lower.</div> <div> <br /> </div> <div>GM spent only about $10 million last year to advertise on Facebook, according to people familiar with the matter. That is a fraction of GM's total 2011 U.S. ad spending of $1.8 billion, according to Kantar Media. It is also a tiny share of Facebook's total 2011 revenue of $3.7 billion, most of which was advertising sales.</div> <div> <br /> </div> <div>GM is the third-biggest advertiser across all media in the U.S. after Procter & Gamble Co. and AT&T, according to Kantar.</div> <div> <br /> </div> <div>The auto maker's marketing chief, Joel Ewanick, said the company "is definitely reassessing our advertising on Facebook, although the content is effective and important." Mr. Ewanick has spent the last year restructuring the Detroit company's marketing operations in an effort to cut billions of dollars in costs.</div> <div> <br /> </div> <div>Content refers to the unpaid Facebook pages GM and other companies use to promote their products. GM spends about $30 million on content created for the site, including on agencies that manage the content and daily maintenance of GM's pages, people familiar with the figures said.</div> <div> <br /> </div> <div>GM started to re-evaluate its Facebook strategy earlier this year after its marketing team began to question the effectiveness of the ads, the people said.</div> <div> <br /> </div> <div>Mr. Ewanick and other GM marketing executives met with Facebook managers earlier this year to discuss their concerns. But the auto executives left unconvinced that advertising on the website made sense, according to people familiar with GM's thinking.</div> <div>Journal Community</div> <div> <br /> </div> <div>"Companies in industries from consumer electronics to financial services tell us they're no longer sure Facebook is the best place to dedicate their social marketing budget&mdash;a shocking fact given the site's dominance among users," said Nate Elliott, an analyst at market research firm Forrester, in a company blog post on Monday.-0-</div> Wed, 16 May 2012 13:33:31 +0400 http://arka.am/en/news/politics/csto_calls_for_peaceful_settlement_of_nagorno_karabakh_conflict/ The Collective Security Treaty Organization confirmed the conviction of the peaceful settlement of Nagorno- Karabakh conflict, according to the declaration adopted yesterday by the CSTO leaders in Moscow. Politics/ <div>YEREVAN, May 15. /ARKA/. The Collective Security Treaty Organization confirmed the conviction of the peaceful settlement of Nagorno- Karabakh conflict, according to the declaration adopted yesterday by the CSTO leaders in Moscow. </div> <div> <br /> </div> <div>&ldquo;Affirming the urge of only peaceful settlement of Nagorno-Karabakh conflict, we underscore the importance of concluding the main principles of the settlement under The OSCE Minsk Group as soon as possible bearing in mind norms and principles of international law, the Charter of the United Nations, articles of Helsinki Final Act, specifically referring to refraining from the threat or use of force, territorial integrity of states, equal rights and self-determination of peoples,&rdquo; the document says. </div> <div> <br /> </div> <div>The CSTO leaders met on the occasion of the 20th anniversary of Treaty, signed on May 15, 1992, in Tashkent, and the 10th anniversary of the Organization established within the Treaty. </div> <div> <br /> </div> <div>Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Uzbekistan are the current CSTO members.</div> <div> <br /> </div> <div>The conflict in Nagorno-Karabakh broke out in 1988 after the predominantly Armenian-populated enclave declared about secession from Azerbaijan. </div> <div> <br /> </div> <div>As Azerbaijan declared its independence from the Soviet Union and removed the powers held by the enclave's government, the Armenian majority voted in 1991, December 10, to secede from Azerbaijan and in the process proclaimed the enclave the Republic of Nagorno-Karabakh. Full-scale fighting, initiated by Azerbaijan, erupted in the late winter of 1992. International mediation by several groups including Europe's OSCE&rsquo;s failed to bring an end resolution that both sides could work with. In the spring of 1993, Armenian forces captured regions outside the enclave itself. By the end of the war in 1994, the Armenians were in full control of most of the enclave and also held and currently control seven regions beyond the administrative borders of Nagorno-Karabakh. Almost 1 million people on both sides have been displaced as a result of the conflict. A Russian- -brokered ceasefire was signed in May 1994 and peace talks, mediated by the OSCE Minsk Group, have been held ever since by Armenia and Azerbaijan. -0-</div> <div> <br /> </div> Wed, 16 May 2012 13:32:19 +0400 http://arka.am/en/news/economy/medvedev_pledges_support_to_sargsyan_for_solution_of_armenia_s_social_and_economic_problems/ Russian Prime Minister Dmitry Medvedev assured today Armenian President Serzh Sargsyan that he would continue developing cooperation between the two countries and pledged support for solution of Armenia’s social and economic problems, RIA Novosti reported on Tuesday. Economy/ <div>YEREVAN, May 15. /ARKA/. Russian Prime Minister Dmitry Medvedev assured today Armenian President Serzh Sargsyan that he would continue developing cooperation between the two countries and pledged support for solution of Armenia&rsquo;s social and economic problems, RIA Novosti reported on Tuesday. </div> <div> <br /> </div> <div>Before meeting Serzh Sargsyan, Medvedev met in the capacity of new Russian prime minister with Belarusian President Alexander Lukashenko. </div> <div> <br /> </div> <div>&ldquo;I would like to welcome you as a new Russian prime minister,&rdquo; said Medvedev, who was appointed as prime minister by President Putin. </div> <div>Medvedev congratulated the Armenian president on the victory of the Republican Party of Armenia in the parliamentary elections. </div> <div> <br /> </div> <div>“I hope this will be instrumental in securing Armenia’s further progress, and Russia will support these processes,” he said. </div> <div>Sargsyan, on his side, congratulated Medvedev on his appointment and wished him success in his work. </div> <div> <br /> </div> <div>“This post is very important in Russian-Armenian relations,” he said. -0-</div> <div> <br /> </div> Wed, 16 May 2012 10:38:26 +0400 http://arka.am/en/news/business/zeppelin_armenia_to_open_service_center_in_abovyan/ Zeppelin Armenia, a branch of German Zeppelin GmbH, said today it will open a service center May 16 in the town of Abovyan in central Kotayk region.&nbsp;&nbsp; Business/ <div>YEREVAN, May 15. /ARKA/. Zeppelin Armenia, a branch of German Zeppelin GmbH, said today it will open a service center May 16 in the town of Abovyan in central Kotayk region.  The event will be attended by U.S. Ambassador to Armenia, John Heffern, German Ambassador Hans-Jochen Schmidt and Armenian Ministers of Economy and Transport, Tigran Davtyan and Manuk Vardanyan. The service center will be the first in the region, equipped with modern machinery.</div> <div> <br /> </div> <div>Zeppelin Armenia was founded in June 2005 and is the exclusive representative of Caterpillar in Armenia. It deals with sales of construction, road building and mining machinery and also provides maintenance and supply of spare parts. The company has branches in Abovyan, Teghout, Sotk and Kajaran.</div> <div> <br /> </div> <div>Zeppelin GmbH is a German company, the largest dealer of U.S. Caterpillar&rsquo;s machinery. It has over 200 branches and operates in 17 countries including USA, Brazil, India, China, Western and Eastern Europe, Middle East, Asia and CIS countries. -0-</div> Wed, 16 May 2012 10:34:59 +0400 http://arka.am/en/news/business/ara_grigoryan_re_elected_chairman_of_association_of_armenian_brandy_producers/ The executive director of French-owned Yerevan Brandy Company &#40;YBC&#41;, Ara Grigoryan, was reelected yesterday as chairman of the Association of Armenian Brandy Producers for another one-year term, YBC press service told ARKA. Business/ <div>YEREVAN, May 15. /ARKA/. The executive director of French-owned Yerevan Brandy Company (YBC), Ara Grigoryan, was reelected yesterday as chairman of the Association of Armenian Brandy Producers for another one-year term, YBC press service told ARKA.</div> <div> <br /> </div> <div>It said the meeting discussed also a number of issues concerning the sector, including those related to systematization of this business, as well as strengthening and enhancing the reputation of Armenian brandy.</div> <div> <br /> </div> <div>The Union of Armenian Winemakers, chaired by Avag Harutyunyan and Proshyan Brandy Factory were admitted as new members of the Association that was founded in 2010 December by the largest Armenian brandy companies. </div> <div> <br /> </div> <div>The purpose of the organization is to represent and defend common interests as well as help preserve the quality Armenian brandy spirits.-0--</div> <div> <br /> </div> Tue, 15 May 2012 21:27:53 +0400 http://arka.am/en/news/business/construction_of_railway_from_charbakh_metro_station_to_zvartnots_airport_to_be_over_in_2_3_years/ The construction of a railway from Charbakh Metro station in Yerevan to Armenia’s Zvartnots international airport will be completed in two to three years, Sergey Harutyunian, the chief engineer of South Caucasus railways, told reporters today. Business/ <div>YEREVAN, May 15. /ARKA/. The construction of a railway from Charbakh Metro station in Yerevan to Armenia&rsquo;s Zvartnots international airport will be completed in two to three years, Sergey Harutyunian, the chief engineer of South Caucasus railways, told reporters today. </div> <div> <br /> </div> <div>He said the railway line will be used for transportation of passengers and cargo. The preliminary cost of the project is $2.7 million. He said potential participants of the project have not been determined, and this issue is still under discussion. </div> <div> <br /> </div> <div>On May 4 the chief executive officer of the Russian-led South Caucasus Railways (SCR) company Viktor Rebets, Armenian minister of transport and communications Manuk Vardanyan and general manager of Armenia International Airports, operating Armenia’s largest Zvartnots airport, Marcelo Wende signed a Memorandum of Intent for the construction of a railway to Zvartnots international airport.</div> <div> <br /> </div> <div>The railway, according to the SCR, will be 7,800 meters long, of which 5,350 meters will be a new railway line. The project includes construction of an 810 meters long tunnel. This railway will connect the passenger terminal of Zvartnots airport with Charbakh Metro station and the airport’s cargo terminal with Karmir Blur railway station.</div> <div> <br /> </div> <div>The memorandum was signed in view of the government’s strategic program of establishment of logistical center and a free economic zone near Zvartnots airport. In accordance with the memorandum, the parties agreed to appoint responsible persons who will be given three months to develop proposals on the feasibility of the project.  -0-</div> Tue, 15 May 2012 21:04:54 +0400 http://arka.am/en/news/business/ameria_implementing_courts_monitoring_services_program_/ Ameria CJSC is now implementing Courts Monitoring Services program commissioned by Armenia’s justice ministry, the press office of Ameria told ARKA News Agency on Tuesday. Business/ <div>YEREVAN, May 15. /ARKA/. Ameria CJSC is now implementing Courts Monitoring Services program commissioned by Armenia&rsquo;s justice ministry, the press office of Ameria told ARKA News Agency on Tuesday. </div> <div> <br /> </div> <div>The program is funded by a Japanese government grant made available through the World Bank.</div> <div> <br /> </div> <div>The program calls for working out a methodology for monitoring judicial activity by using the best international practice and for introducing a similar system in Armenia. </div> <div> <br /> </div> <div>Introduction of such a system aimed at improvement courts’ work was prompted by the need for further development of the justice institutions and for enhancement of public confidence in them. </div> <div> <br /> </div> <div>The aim of the project is to upgrade effectiveness of judicial services as well as to enhance transparency and accountability. </div> <div> <br /> </div> <div>All the peculiarities of Armenian judicial system will be taken into account in the course of this project implementation. </div> <div> <br /> </div> <div>David Sargsyan, legal practice director of Ameria Group, said that Ameria has many years’ experience in implementation of such consulting projects, and this program is a logical continuation of previous projects. </div> <div> <br /> </div> <div>&ldquo;Some progress is already seen, and I hope for further achievements,&rdquo; he said. </div> <div> <br /> </div> <div>The program consists of several thematic cycles, which include the study of the existing approaches in courts monitoring, the best international practice, elaboration of methodologies and its testing and introduction. </div> <div> <br /> </div> <div>Ameria will closely cooperate with state beneficiaries, the Armenian Bar Association and other representatives of the civil society. </div> <div> <br /> </div> <div>On May 11 and 12, after completion of the first stage, a seminar was held as part of the program for presenting international achievements in this area and for discussing the elaboration of new mechanisms fit for Armenia. </div> <div> <br /> </div> <div>Representatives of the Armenia’s justice ministry, judicial department, bar association, appeal civil court, ombudsman office and international organizations.</div> <div> <br /> </div> <div>Judges and journalists attended the event as well. </div> <div> <br /> </div> <div>Experts at Ameria spoke about similar practices in France, Italy, the Netherlands, Croatia, Serbia, Slovenia, England and Wales. </div> <div> <br /> </div> <div>Ameria will summarize all the proposals and will use them for elaboration of the project, which will be put to public discussion. </div> <div> <br /> </div> <div>“The problem is that judges should be accountable, and the public at large should have opportunities and instruments for controlling judicial activities, including those of particular courts and judges,” said Arthur Tunyan, director of the office for implementation of judicial programs. “Today there are no clear mechanisms for conduction of monitoring by the society, the bar association or other state institutions.”</div> <div> <br /> </div> <div>The only instrument is scant statistical data, which are being processed and presented to the public by the judicial department. </div> <div> <br /> </div> <div>“I think neither their quality nor their quantity is sufficient,” Tunyan said. “International practice tends to a wider publication of statistical data and to giving answers to questions which are of concern of the public.” The program will be completed by the end of this year. </div> <div> <br /> </div> <div>Ameria, one of the first and fast-developing investment banking groups in Armenia, provides a wide range of financial, management and legal consulting services, which provide financial and management support to corporate clients.</div> <div> </div> <div>Ameria that was established in 1998 is a financial, legal and strategic consultant and partner to clients in public and private sectors as well as to international organizations in Armenia and South Caucasus. -0---</div> <div> <br /> </div> Tue, 15 May 2012 21:00:03 +0400 http://arka.am/en/news/interview/client_as_our_development_s_engine/ An exclusive interview of Arthur Hambardzumyan, Head of Innovations and quality division at Ameriabank, with ARKA News Agency. Interview/ <div>An exclusive interview of Arthur Hambardzumyan, Head of Innovations and quality division at Ameriabank, with ARKA News Agency. </div> <div> <br /> </div> <div><b>ARKA- Mr. Hambardzumyan, how doest Ameriabank manage to meet the clients&rsquo; demands that change in line with the technological progress and competition ?</b></div> <div><b> <br /> </b></div> <div><b>A. Hambardzumyan &ndash;</b> A legendary hockey player Wayne Gretzky once said, &ldquo;I skate to where the puck is going to be, not where it has been.&rdquo; The same refers to Ameriabank that heads to where a client is going to be tomorrow. Keeping that in mind, the bank is designing and implementing innovative development program that aims for meeting the existing and future demands of the clients in financial sphere. </div> <div><b> <br /> </b></div> <div><b>ARKA- Which innovative policy does Ameriabank conduct in its strategic program’s implementation? </b></div> <div><b> <br /> </b></div> <div><b>A. Hambardzumyan- </b>We focus on innovations and prioritize applying to the most modern technologies in our banking business. That is why, I can ensure you that our activity is penetrated with novelties. We try to design not only innovative and new services and products, but also business models, processes, technologies and management systems. While launching new products and services to the market, we, at the same time, work on introducing the systems which will set infrastructure and expand opportunities of cooperation within the bank as well as raise efficiency of business processes. </div> <div> <br /> </div> <div>I would like to highlight two principal motivational vectors for our innovative activities. The first is our intention to stay appropriate with the time tendencies. Development of modern technologies, social websites, penetration of Internet to many social spheres change the behavior and life style of our clients. And it makes us change in parallel with them as well in order to meet the growing demands of our customers. Today we feel the necessity to implement the projects that can provide our clients with more convenient banking services. </div> <div> <br /> </div> <div>The second vector is our work to outpace the others in order to get privileges at the market. It gives us an opportunity to prepare for changes, more specifically in the issues related to banking services, implementation of more long-term plans and projects, and using the most modern technologies. </div> <div> <br /> </div> <div>For instance, if the world speculates that a plastic card is on the way of being outdated, and mobile or contactless payments are becoming more and more popular, we should take it into account already today, even if our local market is currently not ready for that.</div> <div> <br /> </div> <div><b>ARKA- What are the main principles of Ameriabank’s innovative policy? </b></div> <div><b> <br /> </b></div> <div><b>A. Hambardzumyan- </b>There are three principles the bank follows to develop its innovative policy. The first and the most important one is being client-oriented that continues boosting our success at the market. Even in the retail banking business, dominated by standard products, we are able to keep some individual approach to each customer and offer what is most demanded and dictated by life style and preferences. </div> <div> <br /> </div> <div>The second important principle is applying to the world best experience and modern technologies. We always focus on introducing the services and proposals which meet the international standards. The globalization process expands, and banking competitiveness gains a global character. Thus, our bank’s clients are not only those who live in Armenia, but also the ones fr om abroad, including Armenian Diaspora. That’s why in order to be appreciated and competitive we should introduce the services that will correspond to those of the local markets of our foreign clients. </div> <div> <br /> </div> <div>And the third principles is staying committed to our strategy implementation. In other words, our innovative policy as a whole and some separate innovative projects are targeted at implementing the strategy and setting a base for the bank’s further development. Whenever we change our products we change our innovative strategy either. </div> <div> <br /> </div> <div>For example, last year we were involved in expanding retail products, thus our 2011 innovative policy was conducted mainly in this context. We presented nearly 15 new proposals to the market. </div> <div> <br /> </div> <div>These three principles enable us to develop and implement the innovative policy that puts us in top banks list.</div> <div> <br /> </div> <div><b>ARKA- Who gives ideas to the bank for realizing its innovative policy? </b></div> <div><b> <br /> </b></div> <div><b>A. Hambardzumyan –</b> I can name three main sources. First of all , our clients are our source for ideas. Today Ameriabank’s clients are the engines for our development. The clients sometimes express interesting ideas. It is very important for us, and we have a special group that considers and evolves the ideas given by our clients. Very frequently, our clients, being satisfied with our services, propose some improvements for our products and services. It shows that our loyal clients want to make us even better.</div> <div> <br /> </div> <div>First of all, it enables us to establish interactive connection with our clients, and secondly, while realizing their offers we gain more trust from our them.</div> <div> <br /> </div> <div>As of now we receive ideas from our customers on a rolling basis, however, in the future we will try to set the structure to make it easier for them to introduce their offers and ideas and stay upd ated. </div> <div> <br /> </div> <div>The second source for us is our employees. As it is known, today the so-called open innovations, formed within the close cooperation between professional community, are becoming more popular. </div> <div> <br /> </div> <div>And our innovative policy prioritizes applying to the huge intellectual potential of our employees regardless of their positions and responsibilities. I mean staff crowdsourcing. </div> <div> <br /> </div> <div>And today the bank has all conditions for the employees to express their viewpoints and new ideas related to problems’ solution and thus contribute to the further development of the bank. </div> <div> <br /> </div> <div>As a result sometimes we receive the ideas which even our special group would have some difficulties to give. This sense of complicity motivates many people, and we consider it to be a reliable method for encouraging our workers who know how to be heard. </div> <div>That is why the biggest number of our innovative and new offers are implemented due to our employees. In 2011 we have received and evolved nearly 300 proposals from the workers, most of which have already been practiced.</div> <div> <br /> </div> <div>We have designed an electronic system wh ere one can post an idea in the general database and stay upd ated on its processing. The system is open for anyone. </div> <div> <br /> </div> <div>Moreover, the bank has a special team, innovation department, that coordinates the process of idea evolution. Our bank was among the first ones in Armenia to form such kind of the structure coordinating the mentioned process. </div> <div> <br /> </div> <div>And finally, the third source is our Board of Directors. The members of the Board are people, well- known in the international business community, who have a global overview on the market and learn first hand about new developments and global trends.</div> <div> <br /> </div> <div><b>ARKA- What products, actually, does Ameriabank offer to the market in the framework of its innovative policy?</b></div> <div><b> <br /> </b></div> <div><b>A. Hambardzumyan- </b>As I have already said we introduced a number of services for retail clients in 2011. Of such services there were unallocated metal accounts, investment loans for individuals for purchasing business or shares, mortgage schemes with more attractive conditions. </div> <div> <br /> </div> <div>For example, mortgage loan with deposit use instead of pre-payment. The deposit serves as a payment source if a client faces some temporary issues with the loan payment. We have already se t an option for individuals who want to buy real estate abroad ( standard mortgage loans do not refer to this). Our option enables the clients to pledge their housing in Armenia in order to buy property abroad. </div> <div> <br /> </div> <div>In other words we try to segment our services in line with our client’s demands and preferences. Currently, we are working on several large scale projects related to payment cards. I mean co-branded projects jointly with several other retail market participants. This will give privileges to our clients. </div> <div> <br /> </div> <div>In parallel, we will put a stress on consumer loans and will create some special options for our customers to purchase goods, for instance cars, at more favorable conditions.</div> <div> <br /> </div> <div>To achieve success and differ at the market, we mainly focus on non-price factors of competition. They can’t be assessed, but the clients can value their effect while using our services. Our rates are not the lowest , but using our services one receives something more than just a credit, deposit or card. </div> <div> <br /> </div> <div>We also continue attaching great importance to small business products. We have projects that provide small businesses with interesting services, meeting their financial demands and ensuring the efficiency. For example, grace periods for loan payments. </div> <div>Last year we introduced brokerage terminals that allow to process operations at 80 largest stock exchanges in 19 countries. This year we intend to expand the range of these services, ensure access to larger number of the world markets for purchase of shares and securities via our platform. Moreover, we are now implementing an interesting project related to cards for premium clients. We will announce about it in the nearest future. </div> <div> <br /> </div> <div>All the mentioned plans are projected for 2012. Moreover, we have a number of special offers for our clients. We will announce about that soon too. </div> <div> <br /> </div> <div><b>ARKA- What results does the bank expects after introducing new products and implementing new programs?</b></div> <div><b> </b></div> <div><b>A. Hambardzumyan- </b>The important thing is that we don’t focus on short-term goals. Of course, while introducing each product we expect some concrete outcomes, however, we have some more global goal- to make the bank universal at the market. We consider strengthening our positions at the market and se tting base for the further development as more important than short-term effects of these products. </div> <div> <br /> </div> <div>That’s why our projects are targeted at creating preconditions for enhancing our positions and fostering development in this direction. -0-</div> Tue, 15 May 2012 17:39:58 +0400 http://arka.am/en/news/interview/exclusive_interview_with_avag_harutyunyan_______chairman_of_the_union_of_armenian_winemakers/ Exclusive interview with Avag Harutyunyan, chairman of the Union of Armenian Winemakers Interview/ <p class="MsoNormal"><b><span style="font-family: "Times New Roman";">ARKA - Mr. Harutyunyan, how would you assess the Armenian market of alcoholic beverages? Which are the dominating pricing trends?</span></b></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Harutyunyan &ndash; Traditional wine producers complain about slashing sales which should be blamed first of all on global trends, and secondly, on the emergence of new players. The contraction affects especially wines costing from 1200 to 3000 drams. The toughening competition has pushed prices down, nonetheless, companies that used to dominate the market, saw their sales to drop. The competition between the companies producing average priced wines is affecting the sales of cheaper wines costing up to 1000 drams. But there is also a positive side in this. The emergence of new competitors has made others improve the quality of their products. On the other hand, this made other companies to shift to production of high-quality and expensive wines. This is forcing prices up of wines costing 2000 drams and more. However, it is not so important for average consumers, because expensive wines are for a narrow range of customers. The increase in excise tax rates led to an increase in the price of fruit wines. However, prices were raised only by wineries producing wines from quality raw materials. The rise in excites tax rates has made companies drop plans to expand their production base. Our Union proposed that the government should revise the rates of excise taxes and I think it will be done in the autumn. I can clearly say that we are witnessing a permanent improvement of quality in the domestic market. Of course, our products continue to compete with imported wines, which are mostly of good quality costing from 2.5 thousand drams. The main competitors are Chilean, French and Italian wines, which hinder production of domestic expensive wine. As for the brandy market, prices are stable with a slight growing trend.</span></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";"> </span></p> <p class="MsoNormal"><b><span style="font-family: "Times New Roman";">ARKA &ndash; Do Armenian alcoholic products comply with international standards, and can we compete with other producers in the CIS and Europe?</span></b></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Harutyunyan &ndash; The bulk of Armenian wines are not competitive in Europe, although each local company produces a small amount of products that meet international standards. In addition, there are pricing problems- 75% of wines in the global market cost about 2.5 euros a liter. Our wines in this segment are competitive, but the question is that due to geopolitical and transport obstacles we can not export them to Europe and sold at low prices. Thus, it makes sense to export wines costing 4-7 euros, but we can not enter this market. We can not either enter the market of more expensive wines costing 10-15 euros because of poor technology, raw materials and the quality of grapes.</span></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Regarding the brandy market, forecast are also disappointing. The fact is that over the last twenty years we have been seeing a continuous decrease in the quality of Armenian brandy. The farmers can not grow those grapes that were used for the production of brandy 20 and more years ago. Due to financial constraints, wine growers lost former markets and as a result had to destroy vineyards. Of previously cultivated 30,000 hectares of vineyards there were 13,000 hectares in 2000. And though a recovery began in 1998, still we lacked quality regulation and control mechanisms both in Armenia and Russia, where we sell 90% of our wine products. As a result we began selling lower quality brandy, but the Russian consumers do not seek high-quality brandy. Our brandy is better than Moldovan, Russian and Azerbaijani brandies, but not better than, for example, French cognac.</span></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">We have long remained in the Russian market due to low prices. For example, if a half-liter bottle of French cognac cost up to 700 rubles, our brandies sold at 500-600 rubles. But today, the price of grapes grows, and this means that we can no longer follow the same pricing policy to maintain our position in the market. Prices of Armenian brandy will gradually increase, and the distance between Armenian and more expensive brandies will be reducing. And if the price difference is small, the Russian buyer is likely to prefer French cognac to Armenian brandy.</span></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Another negative phenomenon is associated with the use of the brand. In Europe, Armenian cognac is sold as brandy unlike in Russia. It is clear that sooner or later we will not be able to use the cognac name in the Russian market, and our brandies will have to be sold as brandies, which are cheaper than cognac and that may affect the amount of exports.</span></p> <p class="MsoNormal"><b><span style="font-family: "Times New Roman";">ARKA - The government is considering exports of brandy as a priority. What do you think the government should do to stimulate the export of Armenian alcoholic beverages, particularly wine and brandy?</span></b></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Harutyunyan - The government has made a big mistake when it undertook development of brandy business, without mentioning the winemaking strategy, though later, at our insistence, this omission has been corrected. However, before stimulating the export of wines, it is necessary to solve many problems. Some of them I have already mentioned, others are related to the fact that brandy is produced at the expense of wines. In France, cognac is produced by regions, where wines are not produced. They grow grape varieties that are only used in the manufacturing of brandy.<span>  </span>Some 75% of Armenian vineyards are in Ararat valley. The grapes suitable for the production of brandy ripen in early September, and that for wine a month later. But owners of vineyards can hardly preserve these terms, as a result the entire crop of grapes is gathered almost simultaneously. <br /> </span></p> <p class="MsoNormal"><b><span style="font-family: "Times New Roman";">ARKA - What do Armenians prefer to drink and did per capita consumption of wine, brandy, beer and vodka change over the last time?</span></b></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Harutyunyan - We produce a lot of brandy, but we drink it a little.<span>  </span>Vodka sales fell and this trend is now in its fifth year in a row. Although vodka is still dominant in the total amount of alcohol consumption, its share falls due to increased consumption of wine.</span></p> <p class="MsoNormal"><b><span style="font-family: "Times New Roman";">ARKA - What, in your estimates, is the share of counterfeit products in the Armenian market of alcoholic beverages, and how this can be combated?  </span></b></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">A. Harutyunyan &ndash; There are many ways to combat it, but most importantly, the society must not allow production and sale of fake products. The problem actually lies within us. After all, if a consumer sees a quality product at a store, and next to it a bottle of the same name, but three times cheaper, and buys the cheaper, low quality and sometimes dangerous to the health products, the blame for this rests entirely on him. And you can not blame anyone here.</span></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";"> </span></p> <p class="MsoNormal"><b><span style="font-family: "Times New Roman";">ARKA &ndash; The so-called wine tourism" is developed in many countries. Visiting winemaking regions and communicating with professionals interests not only tourists but also wine producers, wine merchants and restaurant owners. What are the prospects for this type of tourism in our country?</span></b></p> <p class="MsoNormal"><span style="font-family: "Times New Roman";">Harutyunyan - Wine tourism implies the existence of certain conditions, first, the vineyard, combined with a picturesque landscape. The majority of our vineyards were planted 50-60 years ago by the old Soviet technology, they are old, and some have become unusable. Second, for wine tourism a winery is necessary, but, again, not a Soviet-styled, but a small, cozy, old-fashioned, such as "chateau." The third segment of the wine tourism is the cultural, historical monuments, which we have, but we do not have the infrastructure to service the tourist routes. However, the potential is very large - we have fantastic conditions, which we do not use. We are currently developing in conjunction with several organizations, the best routes of wine tourism. Revolutionary processes occur in the world wine market every 50 years. Some 40-50 years ago, people wanted to taste wines produced in exotic countries and discovered the wines made in Chile, Argentina, New Zealand, South Africa, Uruguay and other countries. These countries have used the interest, have developed the best investment technology and now their wines compete with the best wines of the Old World. There is another trend now - people want to taste the wines from the regions that have historically been considered the cradle of mankind, the birthplace of grapes and wine - and this embraces Armenia too. But we must actively promote wine tourism and try not to give up the positions, because we have serious rivals, Turkey, Georgia, Azerbaijan, Iran, Syria, Israel and Palestine. -0-</span></p> Tue, 15 May 2012 16:18:50 +0400 http://arka.am/en/news/economy/armenia_to_sign_intergovernmental_agreement_on_agricultural_cooperation_with_israel/ The governments of Armenia and Israel will sign an agreement on cooperation in agricultural sector in the framework of Armenia’s Agriculture Minister Sergo Karapetyan’s visit to Tel Aviv, May 16-19. Economy/ <div>YEREVAN, May 15. /ARKA/. The governments of Armenia and Israel will sign an agreement on cooperation in agricultural sector in the framework of Armenia&rsquo;s Agriculture Minister Sergo Karapetyan’s visit to Tel Aviv, May 16-19. </div> <div> <br /> </div> <div>&ldquo;The sides will discuss perspectives for Armenian-Israeli cooperation in agrarian sphere,&rdquo; the Ministry of Agriculture of Armenia informs. </div> <div> <br /> </div> <div>The Armenian delegation is expected to visit agrarian enterprises of Israel, as well as participate in the 18th international agricultural exhibition Agritech, May 15-17, in Tel Aviv. </div> <div> <br /> </div> <div>Armenia’s Agriculture Minister will also attend the round table on May 16. </div> <div> <br /> </div> <div>The Armenian delegation, headed by Sergo Karapetyan, will also meet Armenian community of Israel. -0-</div> <div> <br /> </div> Tue, 15 May 2012 15:12:54 +0400 http://arka.am/en/news/politics/esm_to_start_operating_in_july_junger_says/ European Stability Mechanism &#40;ESM&#41; will start operating in the middle of this year, Eurogroup President Jean-Claude Junker said at the press conference on Monday. Politics/ <div>YEREVAN, May 15. /ARKA/. European Stability Mechanism (ESM) will start operating in the middle of this year, Eurogroup President Jean-Claude Junker said at the press conference on Monday. </div> <div> <br /> </div> <div>This mechanism should be put into operation in July if the euro zone&rsquo;s member states, that share 90% of IMF capital, ratify the agreement, RIA Novosti reports. </div> <div> <br /> </div> <div>Junker said that the ratification process doesn’t face any obstacles and will be finished in July, as expected. </div> <div> <br /> </div> <div>On March 30, the Eurogroup ( Euro zone’s Finance Ministers Council) decided the funds to reach as high as &euro;700 billion, instead of the initial €500 billion ( or plus already allocated funds to Greece in the first rescue package, and EFSF &ndash; as high as 800 billion euros). </div> <div> <br /> </div> <div>Thus, free to lend new funds may rise to 500 billion euros from the current 300 billion euros, according to the statement released by the Eurogroup. The euro zone’s states are expected to be fund donors. -0-</div> <div> <br /> </div> Tue, 15 May 2012 15:09:20 +0400 http://arka.am/en/news/economy/jpmorgan_trading_loss_a_negative_for_bondholders_moody_s/ Moody&#39;s Investors Service on Monday said JPMorgan Chase & Co&#39;s $2 billion trading loss is a negative development for the bank&#39;s bondholders, Reuters agency reports. Economy/ <p> <p>YEREVAN, May 15. /ARKA/. Moody's Investors Service on Monday said JPMorgan Chase & Co's $2 billion trading loss is a negative development for the bank's bondholders, Reuters agency reports. </p> <p>JPMorgan's credit rating of Aa3, firmly ensconced in investment grade territory, is on review for downgrade, along with those of other major global financial institutions and Western European banks.</p> <p>"This development is credit negative" for JPMorgan bondholders, Moody's said. "This nasty surprise fr om one of the better-managed banks once again highlights the opacity of the risks of global investment banks, as well as the difficulty of controlling these risks," Moody's analyst Peter Nerby wrote in the firm's Weekly Credit Outlook report.</p> <p>On Thursday, the bank disclosed the $2 billion trading loss, citing a failed hedging strategy. This development will be included in its current rating review, but in itself does not mark any change to its current status, Moody's said.</p> <p>Fitch Ratings cut JPMorgan's rating on Friday by one notch, to A-plus from AA-minus, and S&P revised its outlook for the bank to negative from stable but affirmed its A credit rating.</p> <p>Nerby said that while the loss itself was not significant in the context of JPMorgan's profits, as well as its solid capital and liquidity positions, it "once again highlights the impenetrable veil masking the true risk profiles of global derivative dealers or users such as JPM.</p> <p>"It may also be an example of trading desk 'mission creep,' wh ere a transaction originally intended as a hedge morphs into a new proprietary position, perhaps to boost returns at a time when achieving an acceptable return on equity is hindered by low interest rates and other revenue constraints as well as increasing costs," the report said.</p> <p>"These risks -- opacity and inherent risk management challenges -- are two of the factors underpinning our current review of global investment banks."</p> <p>JP Morgan Chase, founded in 1799, is one of the world&rsquo;s leaders in providing investment banking services. Currently, the bank, assets of which are estimated 2 billion dollars, operates in over 60 countries. &mdash;0--</p> </p> Tue, 15 May 2012 15:02:17 +0400 http://arka.am/en/news/economy/first_quarter_private_remittances_to_armenia_climb_10_3_to_277_2_mln/ Private remittances to individuals in Armenia for non-commercial purposes jumped 10.3&#37; to over $277.2 million in the first quarter of this year from the same period a year earlier, the data published on the website of Armenia’s Central Bank shows. Economy/ <div>YEREVAN, May 15. /ARKA/. Private remittances to individuals in Armenia for non-commercial purposes jumped 10.3 % to over $277.2 million in the first quarter of this year from the same period a year earlier, the data published on the website of Armenia&rsquo;s Central Bank shows. </div> <div> <br /> </div> <div>Transfers from Armenia to abroad climbed 13.8% to $60.9 million versus 53.5 million from the first quarter of 2011. Net inflow advanced 9.3 % to $216.3 million against $197.9 million within the reported period. </div> <div> <br /> </div> <div>The highest net inflow in the reported period is said to be from Russia ($192.1 mln.), as it was last year. ($1 &ndash; 394.45 drams). -0-</div> <div> <br /> </div> Tue, 15 May 2012 14:59:49 +0400 http://arka.am/en/news/economy/moody_s_armenia_s_parliamentary_elections_to_ensure_political_stability_and_policy_continuity_/ The election victory of Armenia’s ruling coalition is credit positive as it “will ensure a degree of political stability and policy continuity,” according to analysts at Moody’s Investors Service.<br /> Economy/ <div>YEREVAN, May 14./ARKA/. The election victory of Armenia&rsquo;s ruling coalition is credit positive as it &ldquo;will ensure a degree of political stability and policy continuity,&rdquo; according to analysts at Moody’s Investors Service.</div> <div> <br /> </div> <div>Armenia is rated Ba2 with a negative outlook at Moody’s, the second best junk rating.</div> <div> <br /> </div> <div>Moody’s analysts also said referring to international observers’ opinion that unlike the 2008 presidential election that was followed by fierce clashes, the recent parliamentary elections were peaceful. </div> <div> <br /> </div> <div>At the same time, some election irregularities were still seen in the parliamentary elections. </div> <div> <br /> </div> <div>According to Moody’s Investors Service, the Republican Party of Armenia headed by President Serzh Sargsyan won 44% of votes, and Prosperous Armenia, Republicans’ fellow coalition member, scored 30%. The ruling coalition’s third member, Orinats Yerkir, obtained more than 5% necessary for taking up seats in the National Assembly. These parties together will have majority in the parliament. </div> <div> <br /> </div> <div>The joint result of the Republican Party of Armenia and Prosperous Armenia is 74% now against 49% in 2007. </div> <div> <br /> </div> <div>In their report, Moody’s analysts say that the government has got good opportunities for implementing economic and financial reforms, including tax reforms, and for taking measures aimed at improving business environment and promoting development of small and medium businesses. </div> <div> <br /> </div> <div>In November 2011, Moody’s downgraded Armenia’s rating Ва2 from stable to negative. </div> <div> <br /> </div> <div>Earlier, the rating agency said that it may revise outlook Armenia’s long-term rating upward, to stable, if risks of its foreign economy’s dependence on its key trade partner’s economic growth lessen. </div> <div> <br /> </div> <div>In March, the International Monetary Fund praised the Armenian government’s efforts for narrowing its budget deficit from 5.7% of GDP in 2009 to 3% in 2011 and for implementation of economic policy designed to improve the country’s competitiveness. </div> <div> <br /> </div> <div>A large number of red tape hurdles for doing business have been eliminated as evidenced by the World Bank’s Doing Business 2012 Report, in which Armenia has improved its standing by moving from the 61st position in 2011 to the 55th position among 183 surveyed countries (the 61st rank in 2011).-0--- </div> Mon, 14 May 2012 21:22:25 +0400 http://arka.am/en/news/politics/serzh_sargsyan_to_make_working_visit_to_russian_federation/ On May 15 Armenian president Serzh Sargsyan will fly to Moscow, for a working visit to the Russian Federation. Politics/ <div>YEREVAN, May 14. /ARKA/. On May 15 Armenian president Serzh Sargsyan will fly to Moscow, for a working visit to the Russian Federation. </div> <div> <br /> </div> <div>The President of Armenia in Moscow will participate in the jubilee meeting of the Security Council of the Collective Security Treaty Organization (CSTO) which is dedicated to the 20th anniversary of the Treaty and the 10th anniversary of the CSTO.  Same day, president Serzh Sargsyan participate in the unofficial session of the Council of the CIS Heads of State. -0-</div> Mon, 14 May 2012 18:29:52 +0400