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Armenian PM says return to CSTO has become impossible
... governmental question-and-answer session in the National Assembly, the prime minister was asked to comment on Russian President Vladimir Putin's recent statement on Yerevan's further cooperation with the CSTO. 'We don't participate in the discussions and decision-making in the CSTO, but we don't veto them either, as we already consider ourselves outside the CSTO. Let them decide for themselves what they need,’ Pashinyan said. Pashinyan is sure that Nagorno-Karabakh has nothing to do with it. He recalled ...
12/04/2024Armenian women earn around 30 percent less than men for the same work, according to the World Bank’s new assessment
... occupation.” The report also highlights that men's enrollment in higher education remains stagnant at around 44% (in contrast to 65% for women). Men are also affected by higher mortality. Despite potential economic gains from women’s participation in decision-making roles, women are still underrepresented, including in roles such as ministers, deputy ministers, and community heads. While women currently make up 35.5% of the National Assembly, still only 17% among ministers and 18% of deputy ministers ...
10/16/2024How to invest in shares and make profits: a guide from Unibank Invest
... have, it is better to contact an investment company or a broker. They will help to collect all the necessary information, presenting it in a convenient and understandable form, so that the investor does not have to look for it himself, which makes the decision-making process much easier. ARKA - How do you realise that it is time to sell shares, what signals should you pay attention to? N. Gharibyan - The answer is simple - you can sell shares at any moment when you consider the income sufficient....
10/10/2024How to achieve success in the financial market: 10 qualities of a successful investor
... most investors to focus on the recent performance of a fund, asset or strategy. When selecting companies and making a plan, it is indeed important to evaluate the companies' performance. However, for your own forecasting, you should also analyze your decision-making process. Based on past performance alone, many investors do not understand exactly what they are doing and why. They are only replicating a certain model, which may not be applicable in changed circumstances. O'Shaughnessy cites as an ...
06/10/2024Male and female paths in investing. Is there a "battle of the sexes" in the financial market
... testosterone made large profits that outweighed the risk. The difference in results points to the inherent heterogeneity of the market and the importance of context. The presence of both aggressive and conservative investors is important to maintain balance. Decision-making process Women are focused on achieving their own and their family's financial security. According to Fidelity Investments, a large financial holding company, women value a clear resource for management and often a knowledgeable advisor ...
05/15/2024GRECO calls for increased oversight and accountability in Armenia's highest executive authorities and police force
... criminal investigations into high-level corruption and kleptocratic networks linked to previous regimes are underway, but to date no convictions have been handed down. More needs to be done to improve access to information and public participation in decision-making. Moreover, effective lobbying rules have yet to be adopted," the document says. As for the police, GRECO notes that it lacks a well-developed ethical infrastructure - it has neither a specific anti-corruption policy/strategy nor its ...
04/22/2024Armenian PM does not rule out de jure freezing of participation in CSTO
... practically frozen our membership in the CSTO, it means the following: we haven't had a permanent representative in the CSTO for a year, we haven't participated in summits and meetings for a long time. Of course, the CSTO has the principle of consensus in decision-making, so we are not blocking anything, but we do not participate for a simple reason: we have not received an answer to the question why we should," the Prime Minister said. Pashinyan said that if the situation does not change, "we ...
02/28/2024Economy Minister says investigation unlikely to reveal any violations in activities of detained deputy minister
... three times the price offered by the disqualified competitor. Speaking to reporters today, Kerobyan said that the statement of the Investigative Committee regarding former Deputy Minister Ani Ispiryan does not mention misappropriation and motivated decision-making, as well as embezzlement of budget funds. "The tender processes were held under the control of lawyers and the Ministry of Finance. We are more than confident that no violations of the law related to procurement or related processes ...
02/01/2024Kerobyan names main challenges for Armenia's economy in 2024
... January 9. /ARKA/. Economy Minister Vahan Kerobyan listed today the main challenges Armenia's economy may face in 2024. "There are risks from geopolitical developments. There is also dissatisfaction of business entities, related to the speed of decision-making on investment projects. We have a lot of work to do to reduce bureaucracy in this issue," Kerobyan said. He also noted logistical problems, particularly those on the Red Sea, which could affect Armenia's economic growth. "Risks ...
01/09/2024Mirzoyan to attend OSCE meeting in Skopje
... capital of Northern Macedonia, on a working visit from November 29 to December 1 to participate in the 30th meeting of the OSCE Ministerial Council, the press service of the Armenian Foreign Ministry reported. The Ministerial Council is the central decision-making and governing body of the OSCE. The annual meeting is an opportunity for the Foreign Ministers to review and assess the security situation in the Euro-Atlantic and Eurasian area, as well as the organization’s work in all its fields of ...
11/29/2023Armenia joins International Solar Alliance
... which all UN member states have the opportunity to join the Alliance. Currently, 116 states have signed the Framework Agreement of the Alliance, 94 of which have submitted the necessary ratification documents to become full members of the Alliance. The decision-making body of the Alliance is the Assembly, convened once a year at the level of relevant ministers from the member states. The Alliance is headquartered in India. Renewable energy is one of the most important directions of the development of ...
11/17/2023Armenian citizens will be given opportunity to seek government funding for their community projects
... implementing a pilot project as part of Open Governance Partnership Initiative. The minister noted that this program will be expanded if there are other communities wishing to implement projects on co-financing basis. "The overall goal is to involve citizens in public decision-making. This is just one component. We will think over new formats to raise their involvement and interest in decision-making," he said. Prime Minister Nikol Pashinyan explained that now it is community heads who submits projects to the ...
11/02/2023Asian Development Bank proposes Armenia four-pronged approach to safeguard its water resources
Armenia faces severe water challenges due to climate change and needs immediate and long-term strategies to safeguard its water resources and ensure sustainable agriculture, say Don Lambert, Country Director, ADB Armenia Resident Mission and Yasmin Siddiqi, Agriculture, Food, Nature, and Rural Development, ADB Sectors Group Director, in a story titled 'More Crops Per Drop: Conserving Armenia’s Water Resources Amidst a Changing Climate,' forwarded to ARKA news agency, suggesting a four-pronged approach...
09/11/2023Ardshinbank's "Simple" Loans: Fueling Growth for Armenian SMEs
... million, USD 100,000, or EUR. Additionally, borrowers benefit from a grace period of up to 12 months for repaying the principal amount. To accommodate the seasonal nature of businesses, the bank will develop an individualized repayment schedule. The decision-making process for loan approvals is highly efficient, with decisions being made within 3 working days. Furthermore, Ardshinbank employs a simplified analysis of the borrower's business, significantly reducing the time required for loan approval ...
06/12/2023Acba Bank conducts free business courses for organic food producers
Acba Bank and Germany's Nature and Biodiversity Conservation Union's (NABU) Office in Armenia conducted three-day business courses for the beneficiaries of NABU’s «Organic Agriculture Development" program. YEREVAN, March 6. /ARKA/. Acba Bank and Germany's Nature and Biodiversity Conservation Union's (NABU) Office in Armenia conducted three-day business courses for the beneficiaries of NABU’s «Organic Agriculture Development" program. The topics of the business courses were "Cost...
03/06/2023Unibank unveils new business support loan with interest rate from 5%.
Unibank has unveiled today a new loan product designed to support small and medium-sized businesses, which can be taken out in euros with the interest rate of 5% and 6%. YEREVAN, February 17. /ARKA/. Unibank has unveiled today a new loan product designed to support small and medium-sized businesses, which can be taken out in euros with the interest rate of 5% and 6%. The loan repayment period is up to 5 years. The interest rate for the first 12 months is only 5%, and from the 13th to 60 months...
02/17/2023Diaspora Commissioner explains why ARF Europe-based activists banned from entering Armenia
... all the people banned from entering Armenia were involved in one incident: a physical attack (hurling eggs) on a car carrying Armenian state flag. That's all I know," Sinanyan told a press briefing today. He noted that he was not involved in the decision-making, but pointed out that hurling eggs on an official motorcade is not acceptable anywhere. The latest ARF activist who was banned from visiting Armenia is Njdeh Karakavorian, the head of the youth wing of ARF/Dashnaktsutyun’s branch in ...
02/02/2023EBRD Vice-President names factors of Armenia's economic growth
Armenia has a long and impressive track record of sound regulatory decision making, which in turn, ensures the resilience of its financial sector, European Bank for Reconstruction and Development (EBRD) Vice President Mark Bowman said in an exclusive interview with ARKA news agency. YEREVAN, January 18, /ARKA/. Armenia has a long and impressive track record of sound regulatory decision making, which in turn, ensures the resilience of its financial sector, European Bank for Reconstruction and...
01/18/2023EBRD Vice President: the Bank has invested over €2 billion euros in 205 projects in Armenia to date - EXCLUSIVE
European Bank for Reconstruction and Development (EBRD) Vice President Mark Bowman visited Armenia earlier this week. In an exclusive interview with ARKA news agency, he spoke about the discussions in Yerevan, the bank’s projects, named also the factors of economic growth as well as confirmed the bank’s growth forecast for Armenia for 2023. YEREVAN, January 18. /ARKA/. European Bank for Reconstruction and Development (EBRD) Vice President Mark Bowman visited Armenia earlier this week. In an...
01/18/2023Armenian FM to address special meeting of OSCE Permanent Council
... address a special meeting of the OSCE Permanent Council initiated by Armenia. Mirzoyan is also scheduled to meet with international partners during the visit. Based in Vienna, the Permanent Council is the body for regular political consultation and decision-making on all issues pertinent to the OSCE and is responsible for the day-to-day business of the Organization.-0-
01/16/2023Armenian foreign minister leaves for Poland for OSCE Ministerial Council meeting
... Armenian Foreign Ministry said. It said in Poland Mirzoyan will participate in the 29th meeting of the OSCE Ministerial Council. Mirzoyan is also expected to have a number of meetings with his foreign colleagues. The Ministerial Council is the central decision-making and governing body of the OSCE. The annual meeting is an opportunity for the Foreign Ministers to review and assess the security situation in the Euro-Atlantic and Eurasian area, as well as the organization's work in all its fields of ...
11/30/2022HSBC Armenia hosts event dedicated to foreign exchange hedging instruments in local financial market
... internationally. “The right solution will depend on the circumstances of your business and the nature of the transaction,” says Ruben Melkonyan, Head of Markets & Securities Services Armenia “but understanding what options are available can help the decision-making process. Even if you decide to do nothing, it should be an informed decision.” “Movements in currency can eat into profit margin and even cause a loss, if businesses ignore that risk, either because they don’t understand it or because ...
10/21/2022Russian IT developer Bercut offers new opportunities for Armenian financial market
The COVID-19 pandemic that nearly swept the entire world pushed all sectors of economy to accelerate digitalization. YEREVAN, September 16, /ARKA/. The COVID-19 pandemic that nearly swept the entire world pushed all sectors of economy to accelerate digitalization. Anti-covid restrictions served as a stimulus for stepping up digitalization of the banking segment and setting up online sales processes in the financial sector. As customers settled in at their homes, company offices closed their doors...
09/16/2022PlanRadar: construction site technology in your pocket
... device. •Remote monitoring. The application literally connects the office and the construction site: all changes can be seen immediately, control and distribution of tasks are done remotely, without loss of time, but with perfect control and instant decision-making. Managers can coordinate and sign reports and other documents online. The main thing that builders get is transparent project management, direct and effective communication with the team and subcontractors, streamlined work processes,...
09/14/2022Democracy is key instrument for guaranteeing and preserving Armenia's sovereignty and independence, says Nikol Pashinyan
... Armenian Democracy Forum. He said the government's task is to prove democracy's ability to ensure the country's foreign and domestic security. "It is very important to shape and discuss the peace agenda in terms of citizen's involvement in key decision-making. It is important that citizens receive full and proper information so that they are sufficiently informed when making decisions," he said. The prime minister said that today it is important to unite and lead Armenia to peace. "The continuation of our democratic mission ...
05/20/2022Armenia's top leadership pays tribute to victims of Armenian Genocide
... must be able to transfer their own destiny from the sphere of decisions of others to the sphere of their own decisions. The most practical expression of such a situation is the independent state, with the maximum maturity level of all its institutions, decision-making capabilities and mechanisms. This realization has led us to the agenda of opening an era of peaceful development for our people and the region, because the most effective tool for ensuring our own security is the accomplished statehood ...
04/24/2022Acba bank has held more than 100 free business training courses for development of SME
Acba bank was the first bank in Armenia to start a series of free business training courses in 2013, designed specifically for the development of SME and to this day it has held 105 such courses, which involved managers of 820 small and medium-sized enterprises and 1,480 decision makers, the bank's press service reported. YEREVAN, December 5. /ARKA/. Acba bank was the first bank in Armenia to start a series of free business training courses in 2013, designed specifically for the development of...
12/05/2021Armenian defense minister presents security situation around Armenia to CSTO delegation
... Defense Ministry said Karapetyan spoke about the security situation around Armenia. Kaloev in turn reported to Karapetyan on the planning of the joint operational deployment of the CSTO Rapid Reaction Force. An exchange of views took place regarding decision-making within the CSTO and the improvement of mechanisms for the use of collective forces. During his visit to Armenia, the First Deputy Chief of the CSTO Joint Staff also got acquainted with the issues related to the combat readiness of the ...
08/27/2021Armenia expresses its dissatisfaction over CSTO response to tension on its border with Azerbaijan
... peacefulness. At the same time, our patience is also not unlimited: in the absence of a peaceful settlement of the situation on our borders, we reserve the right to resolve the issue by force," Karapetyan said. Karapetyan expressed regret that the CSTO decision-making mechanisms and response to crisis situations in the CSTO do not correspond to the needs of its member states. The head of the Armenian defense department also informed Zas about the conceptual approaches of Armenia's upcoming chairmanship ...
08/10/2021Energy saving. Striving to eliminate air pollution.
... industry, transport, energy the largest. As an example, according to several estimates, the combustion of one ton of methane for energy production or heating releases 28 tons of CO 2 into the atmosphere. While we may not be able to influence industry decision-making, still we can take responsibility as individuals by opting for electric cars, the subway, bicycles, and contribute to energy saving. Reducing electricity consumption can be a highly effective way to divert climate change and global warming....
05/24/2021Tigran Jrbashyan: for 30 years we have been building a "kingdom of crooked mirrors." If we don't think strategically, we can lose the country.
... another part of our historic homeland, we were unable to reach an internal consensus on the ways of its strategic development. We were unable to strengthen it institutionally, to strengthen it so as not to lose it eventually. - So, we would give our decision-making right to the titular nation? T. Jrbashyan - Well, it is hardly possible to speak of a titular nation in the Roman Empire. Let's put it this way: we gave someone the right to make strategic decisions for us, but we ourselves preferred,...
03/04/2021Covid-19 generated worst economic crisis for nearly a century, UN chief says
... added. “That means that we reduce the very high increase disparities we have in incomes today in the labor markets. And it means closing the gender pay gap, ensuring women’s full and productive employment and increasing women’s participation in decision-making at all levels.” The devastating fallouts from the pandemic will be felt for years unless smart investments in economic, societal and climate resilience ensure a robust and sustainable recovery of the global economy, the UN said in the ...
01/26/2021My Step alliance wants memorandum to be signed with opposition on early parliamentary elections
...," Suren Grigoryan said during a press briefing in parliament. He said he was surprised at the position of the opposition, which for 2 years have been complaining that its opinion is not being taken into account, and now, when a proposal for joint decision-making was received, it refuses to participate in this process. "We (the ruling majority in parliament) have enough seats either not to elect a prime minister and bring the process to early parliamentary elections, but we believe that the ...
01/21/2021Armenia to harmonize excise tax rates on tobacco products with EEU requirements
... get adapted to new rates. He noted that the permissible range of deviations will be calculated taking into account various macroeconomic indicators and the social situation in the member countries in order to give flexibility to their authorities in decision-making. He said also that regardless of these processes, the government in Yerevan is pursuing the policy of gradual increase in excise tax rate on cigarettes by increasing indirect taxes and reducing direct taxes and, thereby, stimulating economic ...
01/20/2021Analysis of battles in Atsakh and assessment of omissions may lead to structural and legislative changes – defense minister
... Russian peacekeeping contingent deployed in Artsakh were highlighted as priorities. The defense minister also said that an analysis of hostilities and an assessment of omissions is being carried out, which can lead to both structural changes, changes in decision-making procedures and tactics, as well as legislative changes. At the meeting, the parties also discussed room for giving a new impetus to the Armenian-American cooperation in the defense field. They agreed that as a result of additional discussions,...
12/01/2020Armenia celebrating 29th anniversary of independence. Premier and president congratulate nation
... of the national movement. Almost the entire population voted for the declaration of independence - about 99% of the country's citizens eligible to vote. Independence was officially declared by the parliament on September23. Armenian Prime Minister Nikol ... ... until 2050. The strategy of transformation, which is not an ossified document, but a mechanism for discussion, clarification, decision-making on the implementation and monitoring of the implementation of our ideas about the Republic of Armenia until 2050,...
09/21/2020Tonoyan denounces Azerbaijani authorities’ refusal to allow ICRS representatives to visit captive Armenian officer as gross violation of international law
... which started in 2019, is aimed at assessing the level of involvement of military legal advisers in the military educational and educational programs of the Armenian Armed Forces, the integration of IHL into the planning of military operations and the decision-making process. As reported earlier by the Armenian defense ministry, at about 19:30 on August 22, officer Gurgen Alaverdyan got lost while checking the combat positions due to unfavorable weather conditions. It was noted that the message of ...
09/18/2020Armenia to reorganize pension and benefit assignment process
... on the process of assigning a pension, as a result of which work efficiency will increase. Thanks to new software, applications will be distributed among employees according to the principle of randomness, excluding contacts between specialists and citizens. As a result, the objectivity of decision-making will increase, corruption risks will decrease. Reducing the role of the human factor in the process of assigning pensions will lead to increased transparency of the system and increase the confidence of citizens in the system. Service ...
07/06/2020Outgoing head of Central Banks says coronavirus crisis will have more serious impact than that of 2008
... States (CIS). He said the 2014-2015 crisis taught lessons contributing to emergence of successful crisis managers, business decision-making processes and experience. 'Based on all this, we appeared to be much better prepared for the coronavirus crisis,... ... emergency to curb the spread of coronavirus was declared in Armenia on March 16 and restrictions were imposed on free movement of citizens. The government banned also some types of economic activity. On April 13, the government extended the state of emergency ...
06/12/2020Co-founder of ARTEZIANICA Armenia: For entrepreneurs who feel comfortable in risk and uncertainty, current situation is drive and challenge
... new niches, finish what you did not have enough time for in the rhythm of endless pre-coronavirus activity (and often this is just the infrastructure for marketing, sales, the introduction of online technologies). Now we all know what the speed of the decision-making process can actually be, we know that you can work without endless sessions and obligatory meetings for coffee. We are able to quickly launch new products and close unpromising areas, we clearly realized which of the employees work and ...
05/22/2020Unibank introduces artificial intelligence in credit scoring
Unibank has updated credit scoring for unsecured consumer loans, introducing the technology of Artificial Intelligence (AI), the press service of the bank reported on Thursday. YEREVAN, May 21. /ARKA/. Unibank has updated credit scoring for unsecured consumer loans, introducing the technology of Artificial Intelligence (AI), the press service of the bank reported on Thursday. The AI algorithm will enable us to process great amount of information, to analyze client behavior and to model their...
05/21/2020World Bank to provide Armenia with $20 million loan for additional financing of social investment and local development project
... “Furthermore, the citizen engagement framework will be strengthened by using tools for better capturing and measuring feedback from beneficiaries. Finally, gender gaps will be identified and addressed to ensure stronger participation by women in the decision-making processes at the local level.” The EUR 17.9 million (equivalent to $20 million) is an IBRD loan of variable-spread, with a 14.5-year grace period and a total repayment term of 25.5 years. The Government of Armenia and beneficiary communities ...
03/21/2020Fitch Ratings: reducing external vulnerabilities is a positive rating sensitivity for Armenia
... Belarus, and Ukraine. Georgia has made the most progress on structural reforms and its governance indicators are the strongest relative to regional and ratings peers. Political stability is affected by unresolved regional conflicts. Highly centralised decision-making in several countries creates uncertainty around succession, although recent transitions have been orderly. Major social instability has not occurred, but political outsiders have used popular dissatisfaction to take power in Armenia and ...
02/12/2020Armenian people to go to polls on April 5 to decide constitutional court members' fate
... think this is very valuable in the 21st century," Sarkissian said. He said that expression of people's opinion is applied in many countries and it has become a part of such countries' life. "This means that the society takes an active part in decision-making processes, political life and economic development," the president said pointing out Switzerland as an example. He said the Swiss authorities address the nation for receiving its opinion about even simple issues. Armen Sarkissian ...
02/10/2020Armenian deputy prime minister praises EEU for becoming more efficient and quicker in responding to various challenges
Armenian Deputy Prime Minister Mher Grigoryan praised today the Eurasian Economic Union (EEU) for becoming more efficient and quicker in responding to various challenges. YEREVAN, November 28. /ARKA/. Armenian Deputy Prime Minister Mher Grigoryan praised today the Eurasian Economic Union (EEU) for becoming more efficient and quicker in responding to various challenges. He was speaking at a joint meeting of top officials of audit chambers of the EEU member countries in Yerevan. He described the Russia-led...
11/28/2019Ambassador: to attract investments Armenia should ensure level playing filed for all
... /ARKA/. US Ambassador to Armenia Lynn Tracy said last Friday that her government's message to the government of Armenia is that it should ensure level playing filed for all to attract investments. She also said that transparency, predictability and decision-making processes must be clear. The ambassador noted that she sees significant efforts being made in this direction. She said also that the Embassy will try to convey to American businesses the opportunities are available in Armenia, while the ...
11/25/2019Pashinyan speaks about advantages of tax code and prospects of industrialization in Armenia
... the government program, but I want to draw your attention to the multifaceted culture used in supporting domestic production. Citizens and consumers should have a preference for local goods and services while making purchases. Unfortunately, our local ... ... demographic problem in the country,” the prime minister said, noting that the problem should be solved by means of effective decision-making rather than through social programs. He reminded that the demographic problem in the country was solved when industry ...
07/22/2019Armenian president: Today we have the best opportunity to live and advance on our own land
On the occasion of the Republic Day Armenian President Armen Sarkissian issued an address which reads as follows:, YEREVAN, May 28, /ARKA/. On the occasion of the Republic Day Armenian President Armen Sarkissian issued an address which reads as follows: ‘Dear Compatriots, I extend my cordial congratulations on the occasion of Republic Day. Today, the Armenian nation celebrates the holiday of the restatement of statehood which has a centuries-long history. We celebrate our Republic Day which signifies...
05/28/2019SME Banking Club awards Unibank Most Innovative Bank 2018 certificate
... thanks to an individual approach, we correctly assess the potential and risks of enterprises.” Today, when choosing a bank. the determining factors for SMEs are not only favorable terms, but also a flexible approach, minimum requirements and prompt decision-making. “We work to save not only the time of our clients, but also their money. We know well the needs of each sector and can offer the most effective lending programs. Due to favorable terms, our products are available to a larger number ...
05/21/2019Armenian ombudsman to be granted top international status
... UN Paris Principles (defined in 1992 to assess human rights institutions’ work). The status entitles the p human rights institution to attend, and make speeches at, the working meetings of national human rights office to take part in the work and decision-making processes of international organizations, including the UN Human Rights Council, deliver special speeches and be eligible to be elected in managing boards of appropriate international organizations and vote in elections to these organizations....
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