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GeoProMining invests $1,5mn to Armenian social projects in 2011
... or educational events? R.Khudoly- GPM pays great attention to preserving national traditions, culture and art in all the regions it operates. We were one of the general sponsors of the celebrations dedicated to the 20th anniversary of independence in Armenia. The company also actively participated in organizing and preparing celebration events. When visiting Yerevan GPM administration never misses the opportunity to get introduced with the historical heritage of the Armenian nation. At the end of the last year ...
02/10/2012Analysing the company: a guide for the investor
... industry average. - Consider as many parameters as possible: profit, revenue, capitalisation, debts, etc. - The use of multiples is most effective when comparing companies from the same industry. - Interpret the multiples taking into account the age of the company and the direction of its activities. This article was prepared within the framework of the joint project ‘The Year of Investing in Oneself’ by ARKA, AMI Novosti-Armenia news agencies and Freedom Broker Armenia .
09/12/2024Sanitek blames Yerevan authorities for breaching contractual obligations
... Sanitek, the company in charge of garbage removal in Yerevan, in response to the government’s recent decision to allow the city municipality to purchase 15 garbage-removing vehicles, has provided its own explanations over the garbage imbroglio in Armenia’s capital city. The company started failing its contractual obligations a few months ago. Media sources have expressed the opinion that the company is acting the same way to obstruct the new city authorities’ activity. The municipality has filed a motion to court for ...
04/22/2019HSBC Bank Armenia awards its Trade Finance Best Customers
... be recognized in this category. ARPANIV LLC was established in 2003. The company is engaged in import, wholesale and retail trade of tires and batteries produced in Russia, Ukraine, USA, Japan and other Asian countries in Yerevan and other regions of Armenia. The company is also trying to enter foreign markets and currently succeeds with supplying products to Georgia and USA. The company is HSBC Armenia’s borrowing customer since 2008 and during these years has demonstrated growth by expanding the business to ...
06/15/2016Armenia Wine Company's 2019 achievements and 2020 priorities
The Armenia Wine Company, which started in 2006, has become a symbol of modern Armenian winemaking thanks to its award-winning wines, exemplary vineyards and state-of-the-art technologies. YEREVAN, January 14. / ARKA /. The Armenia Wine Company, which started in 2006,...
01/15/2020National Mortgage Company has refinanced 11,000 mortgage loans over 10 years
... is intended for those who have income, but has no savings for mortgage prepayment. Many people have already used this product. ARKA – What are the National Mortgage Company's financial sources? Vardumyan – I will specify - the only owner of our company is the Central Bank of Armenia. Other financial sources are international organizations. Besides, we issue bonds. At the moment, the amount of the company-issued bonds is AMD 6.5 billion. The latest emission took place in 2018 and amounted to AMD 3 billion. The aim of the emissions ...
07/22/2019Armenia Wine Company hosted My Step for Aragatsotn Marz business forum
On October 12, 2019 the Armenia Wine Company hosted the 'My Step for Aragatsotn Marz' business forum with Prime Minister Nikol Pashinyan, members of the government, National Assembly deputies, dignitaries and entrepreneurs participating in the event. YEREVAN, October 15. /ARКА/. On October ...
10/15/2019New stockholder of Air Armenia invests $68.6 million in the company
... funds are now owned by Air Armenia that can administer them at its discretion, says the report. The transaction helped the air company acquire securities, and, at the same time, increased its capital. The main achievement with the deal is that the sole Armenian air company has now a hedge against bankruptcy and other financial and other risks, says the report. Sirakan Hambartsumyan, head of marketing at Air Armenia, told ARKA that company is not carrying out flights, but is planning to start its air services next ...
08/14/2015Armenian “Armavia” goes bankrupt: future of national air traffic under question
According to official information released Thursday, Armenian national air company Armavia made a decision to cease its flights as from April 1st 2013 and start a bankruptcy procedure. YEREVAN, April 2. /ARKA/. According to official information released Thursday, Armenian national air company Armavia made a decision to cease ...
04/02/2013Armenia’s economic court starts considering claim against Armentel, Vympelcom
... against the ArmenTel and Vympelcom telecommunication companies. YEREVAN, November 7. /ARKA/. The RA Economic Court has started considering a claim lodged by the Bi Line IT-Company against the ArmenTel and Vympelcom telecommunication companies. The Armenian company claims that the aforementioned companies are using a brand consonant, in Russian and Armenian pronunciation, to the brand registered by the RA Agency for Intellectual Property and owned by the Armenian company. The Bi Line Company launched its ...
11/08/2007Bank VTB (Armenia), Armenian water and sewerage company award four best subscribers
... the bank is often carrying out similar actions with its clients. The bank will continue cooperating with Armenian Water and Sewerage Company, he said. “SAUR” S.A. French company won the tender for management of Armenian Water and Sewerage Company in 2004. Armenian Water and Sewerage Company have 4 territorial branches with their central offices in Sevan, Abovyan, Sisian and Artashat. The company is providing services to 265,000 subscribers in 286 villages and 37 cities of the country. The price for water ...
10/24/2008The company “Maxtronic” plans to increase in 2012 its turnover six times, up to $7 million in Armenia
... cities of the country. The company Acme Computer Components (ACC) was established in Lithuania in 1998. At present, the company ACC works in 7 countries of Eastern Europe – Lithuania, Latvia, Estonia, Russia (c. Kaliningrad), Georgia, Belarus and Armenia. Compared to 2010, in 2011 turnover of the company increased by 32% making about 160 million USD. It is planned that this year turnover of the company will be about 200 million USD.-0-
03/14/2012Armenian-Latvian company “Interclean” to invest 1 million euro in the next 2 years
... skills of experienced specialists of “Cleanhouse” in the Armenian market of technical service and cleaning of territories. “I think that we could manage to become a leader in the market in 2-3 years. Our company will become the only company in the Armenian market providing services by European standards in accordance with international licenses and application of new technologies and modern management”, he said. Director of Armenian Development Agency (ADA) Robert Harutyunyan said that this ...
09/14/2011Well-known facilitator Ekaterina Karmak names the reasons why she decided to move to Armenia (VIDEO)
... patriotism in Russia right now. There is a question of communication, but I admire people who live through all this and remain human, they do not become embittered, they do not become harsher. Q. Is Armenia moving in the right direction in terms of company development? E. Karmak - In Armenia everything comes late. In 2017, they did not understand what strategic sessions, leaders, and teams were. Now there is a huge number of young leaders, active managers who understand the value of the team and that it needs to be made clear where ...
01/17/2022Ucom remains without management: over 400 employees, including founders and technical staff, leave
... make a decision. However, due to the situation with the spread of the coronavirus and the declaration of a state of emergency in the country, the commission decided to suspend the consideration of the company's application. About the Companies The Armenian company Ucom (Universal Communications) was founded in 2007. Ucom, being one of the flagship players in Armenia’s telecommunications market, provides a full range of services in this field: high-speed symmetric Internet, IP-television and digital telephony....
04/10/2020Winners of abstract competition receive prizes from “Rosgosstrakh Armenia”
The results of an insurance abstract competition among students held by “Rosgosstrakh Armenia” company were announced in Yerevan Wednesday. YEREVAN, November 8. /ARKA/. The results of an insurance abstract competition among students held by “Rosgosstrakh Armenia” company were announced in Yerevan Wednesday. Four winners out of 27 ...
11/08/2012Geopromining’s subsidiary and Armenian government to build new copper smelter in Armenia
... shares of the Zangezur Copper Molybdenum Combine (ZCMC). The granted 25% shares constitute 15% of the equity of ZCMC that will consequently belong to the Republic of Armenia. "Industrial Company" is a fully owned subsidiary of “Georpromining Armenia”. The company has acquired 60% of ZCMC on 30 September 2021. Roman Trotsenko, Geopromining BOD Member, commented on the transaction. "Geopromining has been operating in Armenia for many years, and we have been a reliable partner for the Republic of Armenia ...
10/01/2021Top ten economic events in Armenia in 2007
... first section of Iran-Armenia gas pipeline was commissioned in 2007. This means that Iranian gas started coming to Armenia. 9. During 2007 four companies placed their corporate bonds on the market – “Shen Concern” closed joint stock company, “Armenian Copper Programme” (ACP), “Valletta” Co. Ltd. And “ArmRosGasprom” closed joint stock company. The total volume of the issues was 2.5bln Drams. 10. Russian “Vimpelkom” company became the 100%owner of the ...
01/07/2008How to invest in shares and make profits: a guide from Unibank Invest
... division of Unibank, takes ARKA news agency's questions about investing in shares. ARKA - Why shares may interest a novice investor as an investment facility? N. Gharibyan - Shares are securities that give their owner the right to a share in the company. In addition, the owner of the share gains the right to vote at the shareholders' meeting and, depending on the type of shares, the right to receive dividends - a part of the company's profit. These are shares of public companies that are traded ...
10/10/2024Untapped potential: TCF co-founder on opportunities and prospects of crowdfunding in Armenia (EXCLUSIVE)
... funds be used for? N. Vardanyan -TCF is one of the world leaders in crowdfunding with many years of experience in promoting brands, organizing crowdfunding campaigns, e-commerce and developing marketing strategies. It has offices in the USA, China and Armenia. In recent years, the company has started to expand, plans to enter the Korean market, Japan, and last year acquired a New York company. We need resources to be more effective in achieving success, so the purpose of issuing bonds is to further grow the company and strengthen ...
02/18/2025Philip Morris international brands have 16.4% share of Yerevan cigarette market
... cancer. So we consider clear market regulation and control necessary. However, producers must be able to inform consumers of their products, while consumers must get full information on venues where they buy cigarettes. Question: What programs does the company implement in Armenia, including ones on smoking prevention? Answer: The company hold regular social actions. In addition, we have conducted issues communication campaign in Armenia since 2006, during which our employees distributed PMI information leaflets for consumers ...
07/06/2009EstateGuru opens technology center in Armenia (photos)
... team to support our development projects," said Yuzbashyan. Armenian Economy Minister Vahan Kerobyan, who attended the ceremony, also called the opening of the technology center important for Armenia. "EstateGuru is a fast-growing, European company. And Armenian IT industry is quite competitive and in demand among international investors. The proof is this achievement," said Kerobyan, welcoming the company's expansion in Armenia. According to him, this provides Armenian companies and specialists ...
02/10/2022Armenia Wine to release a brandy to be proud of
With more than 11 years of prevailing presence in the Armenian and international markets, Armenia Wine Company will soon release a new brandy brand. YEREVAN, June 21, /ARKA/ With more than 11 years of prevailing presence in the Armenian and international markets, Armenia Wine Company will soon release a new brandy brand. According to a company’s press ...
06/21/2019Gift up to AMD 40,000: Rostelecom presents new, unprecedented special offer
... organizations, commercial banks and operators. The application of state-of-the-art technologies enables the company to fully satisfy the needs of the subscribers, spreading and ensuring the availability of services throughout the territory of the Republic of Armenia. Since 2014, the company has been providing services to the population in the center of Yerevan, in Erebuni, Nubarashen, Ajapnyak, Davitashen, Malatia-Sebastia, Nor Nork and Avan, Arabkir, Shengavit administrative districts: also in the towns of Abovyan, Charentsavan,...
04/06/2023What is IPO and whether it is possible to make money on it
... plans. This will help you understand how the funds raised will be used: for development or to repay debts. Investing in a company that is trying to ‘survive’ by going public is a risky move. Nuances and complexities Buying shares in an initial ... ... This article was prepared within the framework of the joint project ‘The Year of Investing in Oneself’ by ARKA, AMI Novosti-Armenia news agencies and Freedom Broker Armenia .
09/24/2024Armenia’s Akila Technics to start providing technical services to aircrafts in Zvartnots Airport
Akila Technics, a company of Akila Group, which is based in Zvartnots Airport, is the first Armenian company to provide aircrafts with technical services. YEREVAN, July 16. /ARKA/. Akila Technics, a company of Akila Group, which is based in Zvartnots Airport, is the first Armenian company to provide aircrafts with technical services. Karen ...
07/16/2014Net profit of INGO Armenia insurance company planned at 200mln drams in 2009
... name in the beginning. In 2004 Russian INGOSSTRAKH purchased 75% of the company’s shares and the company was named ING (Russia), IngoNorm (Finland), Garant (Austria), INGO UKRAINA afterwards. The company was recognized as the leading insurance company of Armenia in 2005-2008 and had the leading positions on collection of insurance premiums and payment of insurance compensation that totaled 1.948bln Drams and 461.945mln Drams in 2008 respectively. The company’s assets amounted to 2.015bln Drams by ...
05/29/2009Gazprom-Armenia calls Armenian State Revenue Committee’s accusations of tax evasion absurd
... government budget over the mentioned period against the AMD 32.2 billion it paid at the same period a year before. Gazprom-Armenia CJSC (ArmRosgasprom CJSC before), established in December 1997, imports, deposits and distributes Russian natural gas in Armenia. The company is a subsidiary of Russia’s Gazprom Holding. -0---
11/15/2018Continuation of stable operation of GeoProMining Gold will be the best response to allegations against the company
... that upon obtaining of GPM Gold, our company had paid nearly nine-month salary arrears, and then paid monthly salaries during the entire period of inactivity until the start of production. In this regard, we always behave correctly. - Tell me, if the company performs all its obligations against the budget of Armenia on tax and concession fees? S. Nosoff - We perform all our obligations against Armenia, and there are no problems or misunderstandings on this issues. - Does the State perform its obligations against the company for refund of value added tax?...
11/24/2010Efes Insurance launches two health insurance products in Armenia
Efes Insurance CJSC announced the launch of two new health insurance products in Armenia starting 1 July. YEREVAN, May 31. /ARKA/. Efes Insurance CJSC announced the launch of two new health insurance products in Armenia starting 1 July. “Efes Insurance Company provides all types of insurance operating in Armenia, but we want to introduce the long-term experience and knowledge of our team for the benefit of the people and to ensure the availability of international types of insurance,” Arevshat Meliksetyan,...
05/31/2024The company “Vitamax-E” plans to expand the production volumes due to the credits in 300 million drams
Pharmaceutical company “Vitamax-E” plans to implement the program on the expansion of production volumes and organization of new production, press-service of the Government of Armenia informed ARKA News Agency based on the results of the visit of Armenian Premier Tigran Sargsyan to the company. YEREVAN, March 14. /ARKA/. Pharmaceutical company “Vitamax-E” plans to implement the program on the expansion of production volumes and organization of new production, press-service of the Government of Armenia informed ARKA News ...
03/14/2012Air Armenia bankruptcy declaration upheld by Armenia’s Court of Appeal
... the newspaper, Air Armenia’s debts totaled $16 million in September. The company owes $2.5 million to Ala International and $400 to Gagik Tsarukyan. Besides, the company owes different sums to Zvartnots Airport, Ameriabank, ConverseBank and Ingo Armenia Insurance Company. ($1 = AMD 480.76). ---0----
11/26/2015Russian railways to deliver eight locomotives to Armenia
... next two months, RA Minister of Transport and Communications Gurgen Sargsyan told reporters. Under the concession agreement the Russian side is to make its initial investments in passenger transportation, G. Sargsyan said. He pointed out that the Armenian Railways Company was transferred to the Russian Railways Company under a concession on June 1, 2008. “Thus, from June 1, the South Caucasian Railway is in charge of the traffic,” the Minister said. The South Caucasian Railway Company is fully owned ...
06/04/2008Armenia Air Company introduces Aero Mart air ticket booking system
... a prominent Arab company, to introduce Aero Mart air ticket booking system, the press office of the air company reported on Tuesday. Before signing this agreement, representatives of Accel Aero visited Armenia and provided three-day classes to the Armenian company’s personnel to present a new program. Air Arabia is among partners of Accel Aero. Armenia Air Company has been founded by Ashot Torosyan (51% of the company’s shares), Tamaz Gaiashvili (25%) and Robert Hovhannisyan (24%). Tamaz Gaiashvili ...
06/29/2016The company “Ingo Armenia” initiates legislative changes to toughen the requirements of mandatory car insurance
... company “INGOSSTRAKH” after which it was renamed “INGO Armenia”. Levon Altunyan (Armenia) is the shareholder of 25% of shares. Charter capital of the company is 750.9 million drams. According to the data of the Bureau of Motor Insurers of Armenia, the company “INGO Armenia” as of December 31, 2011 paid 4 339 compensations for mandatory car insurance in the total amount of over 1 billion drams. In the company 67.7 thousand transport means are registered, and the number of applications for payments ...
02/24/2012From Dream to Goal: Ohanyan Brandy Company (video)
... latest technologies are used, such as solar power plants, electric elevators, electric hand trucks," said Ohanyan Brandy Company Director Edward Aghumyan. The first Armenian organic wheat vodka produced by the company is widely recognized in the Armenian Diaspora. Ohanyan Brandy Company sells its drinks in the USA, Japan, China, Russia and European countries. Acba Bank is a 100% shareholder of Acba Leasing, which is overseen by the Central Bank of Armenia. -0- --
11/22/2023Armenia Air Company to operate flights to 17 destinations – economy ministry
Armenia Air Company has received a certificate for operating regular flights. YEREVAN, March 21. /ARKA/. Armenia Air Company has received a certificate for operating regular flights. The air company is planning to operate flights to 17 destinations. The Armenian ...
03/21/2016The company GPM organized a holiday for the children of employees of its companies in Armenia
Diversified international group of mining companies GeoProMining (GPM) organized New Year’s holiday for the children of the employees of its companies in Armenia, press-service of the company informed on Monday to ARKA News Agency. YEREVAN, December 27. /ARKA/. Diversified international group of mining companies GeoProMining (GPM) organized New Year’s holiday for the children of the employees of its companies in Armenia, press-service ...
12/27/2011Investment products: basic concepts, features of instruments, pros and cons
... The pros of bonds are that they are a fairly clear and reliable instrument that provides stable and predictable payments. In Armenia, these securities are guaranteed by a special fund and the income from them is not taxed. Bonds are similar to deposits ... ... investors. The funds are managed by management companies with a special license issued by the legislative bodies. The management company decides which assets will be included in the portfolio and in what proportion. Mutual funds offer a wide range of instruments....
01/24/2024Spayka LLC threatens with its procurement failure
... of fruits, vegetables and some prepared foodstuffs. The company has more than 1,200 people on its payrolls. Spayka LLC says in its statement released today that since the day of its establishment it has operated “for creation of economic values in Armenia. The company says it has always distanced itself from any political process. “State security is has always been and remains the key criterion to us,” the statement says. Spayka declares in the statement that it supports farmers and the government-initiated ...
04/10/2019Armenian water-sewerage company to implement several programs with WB, ADB and EBRD for total $92 million
... tender, the administrative manager of CJSC Armenian Water-Sewerage Company became the French SAUR company. Currently, the company has 4 territorial branches with centeres in Sevan, Abovyan, Sisian, and Artashat. Revenues of the Armenian Water-Sewerage Company in Armenia, amounted to 2.7 billion drams in 2008 against 1.1 billion drams in 2005. During the four years of its existence, the company’s total investments amounted to $ 15 million at the expense of the borrowed funds, and the 700 million drams from ...
09/18/2009"Rostelecom Armenia" rebrands to "OVIO".
... entered the telecoms market in 2009 under the GNC-ALFA brand, having built over 3,000 kilometres of backbone network and becoming the largest player in the wholesale internet market, significantly reducing the market price for wholesale internet in Armenia. Since 2012, the company has continued its operations under the Rostelecom brand, introducing "Optics to Every Apartment" technology in Yerevan and marzes, thus ensuring digital equality and promoting healthy competition in the market of internet and digital ...
05/24/2024Japan Tobacco international to expand its presence in the Armenian tobacco market
... tobacco market stands at 7 bln. cigarettes, while the Azeri market is estimated at 10 bln. cigarettes. The Armenian tobacco market is the smallest among the Caucasus nations, which is in the first place due to the number of residents. The share of our company in the Armenian market currently stands between 12-13% and is growing steadily. In Q1 2009 it has grown by 2.7% year-on-year. It’s worth noting that JTI has imported over 530 mln. cigarettes into Armenia in 2008. All key international players are present ...
06/17/2009ANIF’s new contribution in Armenia's agricultural sector
Armenian National Interests Fund (ANIF) said today its subsidiary “Entrepreneur + State” Investments Fund is launching a new investment project jointly with the “K&G” company. YEREVAN, December 16, /ARKA/. Armenian National Interests Fund (ANIF) said today its subsidiary “Entrepreneur + State” Investments Fund is launching a new investment project jointly with the “K&G” company. The joint project “Berrymount” company will start large-scale production ...
12/16/2022Investor protection in the financial market. What is important to know about regulation ?
... whether the regulator itself lists this organization among the licensed ones. For example, the list of companies, which have received official authorization for brokerage activities in Armenia can be found on the websites of the Central Bank and the Armenian Securities Exchange in the 'Trading' section. You can also check whether a company has a license through aggregator sites that collect data from registries in various countries. 2. If the broker is part of a holding company, he/she should provide information about the main company. Examine the holding company's website and make ...
02/07/2024Owner: planes of national air carrier of Armenia not arrested
Planes of national air carrier of Armenia – the company “Armavia” are not arrested, said the owner of the air company Mikhayil Baghdasarov during the press-conference on Wednesday. YEREVAN, March 16. /ARKA/. Planes of national air carrier of Armenia – the company “Armavia” are ...
03/17/2011Tashir Group founder vows to make Electric Networks of Armenia profitable
... to develop Electric Networks of Armenia into a profitable company. YEREVAN, December 14. /ARKA/. Samvel Karapetyan, the founder of Tashir Group, has vowed to develop Electric Networks of Armenia into a profitable company. Electric Networks of Armenia is a good company and a long-term asset, and run by Tashir Group, it will become far better, he said in an interview with RBC. It became known in early autumn that Tashir has bought two subsidiaries of Inter RAO UES in Armenia – the Electric Networks of Armenia ...
12/14/2015“Electric Networks of Armenia” provides clarification on PSRC’s decision to penalize company
“Electric Networks of Armenia” closed joint stock company has made clarifications on the decision by the Public Services Regulatory Commission (PSRC) to impose a fine of 15 million drams (about 37,000 dollars) on the company. YEREVAN, July 31. /ARKA/. “Electric Networks of Armenia” closed ...
07/31/2014Electrical Networks of Armenia (ENA) plans to earn 6 billion drams in profits in 2012
... charity programs, approved by the Board of Directors. ARKA - How much does the company plan to invest this year? What indicators, including profit, the number of customers, electricity consumption do you expect to register? Bibin – In 2005-2011 the company invested a total of 112 billion drams in upgrading Armenia’s energy sector. Part of investment, about $180 million, was attracted as loans. Naturally, the invested funds should be returned, and one of our most important tasks in the near future is to service loans. This is why we have earmarked 8.5 ...
02/14/2012Rebranding Golden Palace in Tsakhkadzor and five other projects: Accor and Project Inter-Invest to invest more than 300 million euros
... Inter-Invest founding director Narek Nalbandyan said that the company that has accumulated many years of successful experience, wants to invest its strength, connections and financial opportunities in the development of the hotel industry and tourism in Armenia. "Our company, together with the world-renowned French Accor Group, is going to build modern hotel complexes and leisure centers in Sevan and Tsakhkadzor. We're going to invest over 300 million euros, about 1000 new jobs with average wages of 200,000 AMD will ...
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