GAB is a website dedicated to the economy of Armenia and the South Caucasus Region.
GAB permits you :

To work in or with Armenia, with a high growth level, has many advantages : liberal economic regime, high standards at professional, technical and scientific levels, low wages, pleasant environment of work.

Even more, Armenia is an open and recommended gate for access to the markets of Russia and the countries of CIS. Armenian firms have already gained ground in the region and established reliable connections.
_____

GAB est un site dédié à l'économie de l'Arménie et de la région du Sud Caucase.
GAB vous permet de suivre les progrès économiques de l'Arménie dans tous les secteurs d'activité : technologies de l'information, agroalimentaire, tourisme, construction, industrie minière, industries légères, secteur bancaire, services…

GAB permet de sensibiliser les professionnels et chefs d'entreprises, les chambres de commerce et d'industrie, les organismes économiques, les instituts de recherches, les agences d'information,… sur les potentialités qu'offre l'économie arménienne et les possibilités d'en tirer parti.

Les avantages de travailler en, ou avec, l'Arménie sont multiples : régime économique libéral, niveaux professionnel, technique et scientifique élevés, salaires encore bas, cadre de travail agréable,…De plus, l'Arménie est une porte d'entrée indiquée et pratique pour atteindre les marchés bien plus vastes de la Russie et de la CEI ; des entreprises arméniennes sont déjà sur ces marchés ou y ont des connexions fiables.

GAB aide aussi à la création de réseaux de professionnels et de PME pour encourager les projets communs et les échanges.

Economic News in Brief : April 2008

- CBA RE-REGISTERS SIL INSURANCE AND GARANT-LIMENS COMPANIES
/APRIL 1/NOYAN TAPAN/

- NONFOOD COMMODITY PRICES REMAIN UNCHANGED IN ARMENIA IN MARCH 2008
/APRIL 1/NOYAN TAPAN/

- SERVICE TARIFFS INCREASE BY 1.1% IN ARMENIA IN MARCH 2008
/APRIL 1/NOYAN TAPAN/

- PRICES OF GASOLINE AND DIESEL FUEL RISE BY 14.6% AND 18.3% RESPECTIVELY IN ARMENIA IN ONE YEAR
/APRIL 1/NOYAN TAPAN/

- ARMENIAN DRAM APPRECIATES BY 13.9% AGAINST DOLLAR IN ONE YEAR
/APRIL 1/NOYAN TAPAN/

- INFLATION MAKES 4.8% IN ARMENIA IN JANUARY-MARCH 2008
/APRIL 1/NOYAN TAPAN/

- ARMAVIA TO REDUCE TICKET PRICES OF YEREVAN-ISTANBUL-YEREVAN FLIGHTS BY ABOUT 50% FROM APRIL 1
/APRIL 1/NOYAN TAPAN/

"ARMAVIA" RECOMMENCES YEREVAN-ASTRAKHAN- YEREVAN REGULAR FLIGHT
/APRIL 1/ARKA/

- FOOD PRICES GROW BY 7.2% IN ARMENIA IN JANUARY-MARCH 2008
/APRIL 1/NOYAN TAPAN/

- GAP IN POPULATION INCOMES REMAINS GREAT PROBLEM FOR ARMENIA
/APRIL 2/ARKA/

- ARMENIA JOINING CIS AGREEMENT ON ANTI-MONEY LAUNDERING MEASURES
APRIL 2/ARKA/

- CONSTRUCTION, AGRICULTURE AND SERVICES CONTRIBUTE TO ARMENIA’S 2007 ECONOMIC GROWTH
/APRIL 2/ARKA/

- REFINANCING RATE RAISED BY CB OF ARMENIA TO ANNUAL OF 6.5%
/APRIL 2/ARKA/

- ARMENIA-EUROEPAN UNION 7TH SESSION TOOK PLACE
/APRIL 2/Panorama.am/

- ARMENIAN ENVIRONMENT MINISTRY BANS COMMERCIAL FISHING OF LAKE HERRINGS FOR WHOLE YEAR
/APRIL 3/arminfo/

- RA MINISTRY OF NATURE CONSERVATION GIVES THE LAST CHANCE TO KAPAN ORE MINING ENTERPRISE ’DINO GOLD MINING COMPANY’
/APRIL 3/arminfo/

- YEREVAN MUNICIPALITY TO BUILD UNDERGROUND PARKING LOTS
/APRIL 3/ARMENPRESS/

- PROFIT TAX REVENUES OF STATE BUDGET GROW BY 34%, INCOME TAX REVENUES BY 22.9% IN JANUARY-FEBRUARY 2008 ON SAME PERIOD OF LAST YEAR
/APRIL 3/NOYAN TAPAN/

- ENVIRONMENTAL PROTECTION AND NATURE USE PAYMENTS INCREASE BY 51.7% IN JANUARY-FERUARY 2008 ON SAME PERIOD OF LAST YEAR
/APRIL 3/NOYAN TAPAN/

- WHITEFISH POPULATION IN ARMENIA’S SEVAN REDUCES 40% IN 2007
/APRIL 3/ARKA/

- LOWEST ANNUAL INFLATION AMONG CIS COUNTRIES - 7% - RECORDED IN ARMENIA IN JAN-FEB
/APRIL 4/ARKA/

- 4,5-9% GROWTH OF GRAPES HARVEST EXPECTED IN ARMENIA IN 2008
/APRIL 4/arminfo/

- ARMENIAN GOVERNMENT INTRODUCES LIMIT TO CASH TRANSACTIONS
/APRIL 4/arminfo/
Today Armenian government proved a draft law "On cash transactions limit", member of Central Bank Council Vache Gabrielyan said at today’s briefing.
He also added that according to the draft law, beginning from 1 January 2009 all the bargains on alienation and using goods and property to the sum more than 3 mln Armenian drams (about $10 thsd) will be implemented with non-cash account. In 2010 the cash transactions limits will be introduces for the deals up to 2 mln drams and in 2011 - to 1 mln. The draft law also supposes that beginning from 1 January 2009 in Yerevan and later in the regions salary which is more than 60 thsd drams ($200) will be paid via cards. Such a limit for cash will be introduced for pension payment as well as payment for education and medical service, he added. According to the law, POS-terminals will be set in stores. Gabrielyan added that the law is directed to fight "shadow" economy.

- ARMENIAN ADC COMPANY LAUNCHES CAMPAIGN FOR FREE WIDEBAND INTERNET CONNECTION
/APRIL 4/ARKA/

- ARMENIAN GOVERNMENT APPROVES DRAFT LAW ON CASH TRANSACTIONS
/APRIL 4/ARKA/

- FUNDS FROM STATE BUDGET TO BE ALLOCTATED FOR IRRIGATION SYSTEM REPAIRS FOR FIRST TIME
/APRIL 4/NOYAN TAPAN/

- MARCH 1 RIOTS IN YEREVAN COULD HAVE HURT ARMENIAN ECONOMY - IMF
/APRIL 4/Interfax News Agency, Russia/
The mass riots that rocked Yerevan on March 1, leading to people’s deaths, may reflect negatively on the Armenian economy, IMF permanent representative in Armenia Nienke Oomes told Interfax.
These events could adversely affect the investment climate in Armenia. However, it is too early to make assessments, she said. "We still forecast 10% GDP growth in 2008, but this forecast is subject to great uncertainty," she said.
"The most important thing for the government is to now minimize this negative effect and discontent among people by taking concrete steps that will demonstrate that the government has serious plans to conduct reforms, to reduce corruption, to make the fiscal and customs systems more transparent and fair and to increase competitiveness by reducing monopolies," Oomes said.
On the morning of March 1, police dispersed a rally of supporters of former Armenian President Levon Ter-Petrosian on Freedom Square in Yerevan. The Armenian Healthcare Ministry said that during riots eight people died.

- ARMENIA FOR DEEPER TIES WITH NATO, PEACEFUL KARABAKH SETTLEMENT - ...
/APRIL 4/Interfax News Agency, Russia/

- AZERBAIJAN DEEPENING COOPERATION TO JOIN EURO-ATLANTIC STRUCTURES
/APRIL 4/Interfax News Agency, Russia/

- Armenia expects to boost grape harvest 5%-10% in 2008
/APRIL 4/Interfax News Agency, Russia/

- COMPETITION TO INCREASE IN ARMENIAN MARKET OF RETAIL BANKING SERVICES
/APRIL 5/NOYAN TAPAN/

- Documents on mineral deposits in Armenia being digitized
/APRIL 5/ArmInfo/

- WORLD BANK INTERESTED IN STRENGTHENING ARMENIA’S ACHIEVEMENTS
/APRIL 7/ARKA/

- ARMENIAN-UKRAINIAN TRADE TURNOVER $250 MLN IN 2007
/APRIL 7/ARKA/

- DRAWING OUT OF NATIONAL ROAD SAFETY STRATEGY STARTED IN ARMENIA
/APRIL 7/arminfo/

- RUSSIAN VIMPELCOM OJSC LAUNCHES BEELINE BRAND IN ARMENIA
/APRIL 7/arminfo/

- YEREVAN MUNICIPALITY TARGETS AMD 35.5 BILLION FOR SOCIAL AND ECONOMIC AREAS AT 1ST Q 2008
/APRIL 7/ARKA/

- YEREVAN SUBWAY TO BE ENLARGED
/APRIL 7/ARKA/

- NUMBER OF COMMERCIAL LEGAL ENTITIES INCREASES BY 5.2%, THAT OF PRIVATE BUSINESSMEN DECLINES BY 40.41% IN ARMENIA IN ONE YEAR
/APRIL 7/NOYAN TAPAN/

- INTERNATIONAL TENDER ON LICENSING THIRD MOBILE TELECOMMUNICATION OPERATOR TO BE ANNOUNCED SOON
/APRIL 8/ARKA/

- RESIDENT OFFICE OF ASIAN DEVELOPMENT BANK TO BE OPENED IN ARMENIA br>RIL 8/ARKA/

- ARMENIA BANKING SYSTEM TO KEEP ATTRACTING FOREIGN FINANCIAL MEANS
/APRIL 8/ARKA/

- TIGRAN SARGSYAN APPOINTED ARMENIA’S PRIME MINISTER
/APRIL 9/PanARMENIAN.Net/

- RAK MINERALS BUYS ARMENIAN FIRM
/APRIL 9/Emirates Business 24/7/

- INTER RAO UES WILLING TO FINANCE AND ENGINEER NEW ARMENIAN NPP
/APRIL 10/PanARMENIAN.Net/

- FIFTH INTERNATIONAL BUILDING & RECONSTRUCTION EXPO 2008 TO LAUNCH IN YEREVAN ON APRIL 11
/APRIL 10/ARKA/

- VTB GROUP RECORDS HIGHER NET PROFIT ON IAS
/APRIL 10/ARKA/

- HUMANITARIAN AID OF 78M USD IMPORTED TO ARMENIA LAST YEAR
/APRIL 10/NOYAN TAPAN/

- GEORGIA BEHIND AZERBAIJAN AND ARMENIA IN GDP GROWTH
/APRIL 10/The Messenger/By M. Alkhazashvili/

- NEW PRIME MINISTER OF ARMENIA CONSIDERS IMPROVEMEMT OF TAX AND CUSTOMS ADMINISTRATION AS MOST IMPORTANT TASK
/APRIL 10/NOYAN TAPAN/

- IMPORT OF GOODS INTO ARMENIA THROUGH YELLOW CUSTOMS ZONE SIMPLIFIED
/APRIL 10/NOYAN TAPAN/

- ARMENIA’S PURE IRON CUTS FERROMOLYBDENUM OUTPUT 10% IN Q1
/APRIL 10/Interfax News Agency/

- ARMIMPEXBANK AND TOYOTA YEREVAN LAUNCH NEW CAR LOAN PROJECT
/APRIL 11/ARKA/

- LABOUR FAIR ON BANKING AND FINANCES HELD IN YEREVAN
/APRIL 11/ARKA/

- CORNET-AM CJSC TO START PROVIDING WIDE RANGE OF TELECOMMUNICATION SERVICES IN ARMENIA IN 2008
/APRIL 11/arminfo/

- ARMROSGASPROM’S INVESTMENTS IN YEREVAN’S GAS SECTOR $24MLN SINCE 2002
/APRIL 11/ARKA/

- HIGH TAX COLLECTION RATE MUST BE MAINTAINED IN ARMENIA
/APRIL 11/ARKA/

- ARMENIAN ARMY SHOULD BE COMPATIBLE WITH RUSSIAN ARMED FORCES AND NATO
/APRIL 11/WPS Agency - DEFENSE and SECURITY (Russia)/


   "HSBC BANK ARMENIA" PRESENTED A NEW BRANCH IN YEREVAN
/APRIL 14/armradio.am/

- ECONOMIC FORECAST PLATFORM WEBSITE LAUNCHED
/APRIL 14/ARKA/
A new website - Economic Forecast Platform - was presented in Yerevan. The site will be active at www.efp.am since April 15.

- HSBC BANK ARMENIA INTENDS TO ESTABLISH CENTER OF NATIONAL SERVICES IN YEREVAN IN MAY
/APRIL 14/ARKA/

- LOGOS EXPO CENTER TO HOLD 14 FAIRS THIS YEAR
/APRIL 14/ARMENPRESS/

- ARMENIAN GOVERNMENT WILL STOP SUBSIDIZING GAS CONSUMERS FROM MAY 1
/APRIL 15/armradio.am/

- 529,231 USERS CONNECTED TO REPUBLICAN GAS SYSTEM
/APRIL 15/NOYAN TAPAN/

- AZERBAIJAN TO DOUBLE MILITARY SPENDING
/APRIL 15/PRESS TV - Iran/

- SYMBOL OF AMERICA, STATUE OF LIBERTY, IS MADE OF ARMENIAN COPPER
/APRIL 15/arminfo/
The president of Metal Prince, a US company owning Akhtala Ore Mining and Processing Works, has documentary proofs that the Statue of Liberty - built in France and granted to the United States - was made of copper exracted from Akhtala deposit in Lori region of Armenia.
In the 1880s the father of the president of France Charles de Gaulle, Henry de Gaulle, managed the prospecting activities in Akhtala, which then was under concession of a French company. At that time the whole copper mined in Akhtala was taken to France.
225 tons of copper was spent on the construction of the statue. It was officially inaugurated by President Cleveland on Oct 28 1886.

- IMF INTENDS TO CONTINUE SUPPORT TO ARMENIA UNDER NEW PREMIER
/APRIL 16/ARKA/

- OPINION : SUSPENSION OF SUBSIDIES FOR GAS PRICES NOT TO REDUCE COMPETITIVENESS OF ARMENIAN GOODS
/APRIL 16/ARKA/

- OUTSOURCING GIVES PRIVILEGES TO THE IT SECTOR OF ARMENIA
/APRIL 16/arminfo/
Outsourcing gives privileges to the IT sector of Armenia, the leader of the project Competitive Private Sector in Armenia [CAPS] Hayli Aleksander told ArmInfo correspondent. He also added that production of information technologies based on outsourcing (implementation of order from abroad) is one of the best decisions for a country with transitional economy.
He also added that the world leaders in the sphere of information technologies are interested in a certain level in making orders to the companies of the "third world". He also recalled that for this reason in February and March the CAPS held the competition of marketing programmes of Armenian IT companies for their trip to Silicon Valley Road Show in June of the current year.
Over their visit Armenian producers will have an opportunity to present their programmes to their American counterparts, as well as potential customers and investors. "The competent marketing policy may make outsourcing beneficial and our activity in the IT sector of Armenia is directed to it’, - the head of CAPS emphasized.

- GROWTH OF FOIL-ROLLING PRODUCTION OF RUSAL UC IN 1Q, 2008, BY OVER 18% HAS BECOME RESULT OF PLANNED ACHIEVEMENT OF DESIGN CAPACITY BY ARMENAL PLANT
/APRIL 16/arminfo/

-STORM INTERNATIONAL INVESTS 43MLN IN SHANGRI LA CASINO RECONSTRUCTION
/APRIL 15/ARKA/

- GAS, ELECTRIC POWER AND WATER TARIFFS NOT TO CHANGE IN ARMENIA
/APRIL 16/arminfo/
Armenian Public Services Regulatory Commission has said that gas, electric power and water tariffs will not change in Armenia in 2008.
It also says that beginning from 1 May consumers will pay the same tariff fixed in 2006 - 84 thsd drams for 1000 cubic meter of gas. The tariff for the commerce consumers is $153.26.
Meanwhile the point is that till 1 May the gas tariff will be subsidized by the government and the consumers will pay less. Thus, for population gas is subsidized in an amount 25 thsd drams per 1000 cubic meter. For this reason in fact they pay 59 thsd drams instead of 84 thsd. As for the commerce consumers, they are subsidized in an amount of $52,01 per 1000 cubic meter, and they pay $101.25 instead of the fixed $153.26.

- GAS USERS IN ARMENIA WILL NOT SUFFER FROM RISE OF TARIFF, DIRECTOR OF ARMRUSGAZPROM SAYS
/APRIL 16/NOYAN TAPAN/
Gas users of Armenia will not suffer from the rise of the gas tariff on May 1st. The chairman of the board of ArmRusgazprom CJSC, director general Karen Karapetian announced at the April 16 press conference that the number of users consuming up to 300 cubic meters of gas makes 89 thousand and the monthly amount of difference due to the rise of the tariff will make about 700 drams (about 2.2 USD), while the montly difference for those using 300-500 cubic meters will make 1,000-1,100 drams. In his words, the business sector will not be affected either as the tariff of 159 USD for 1,000 cubic meters to be used with respect to it from May 1st is quite low as compared with neighboring countries, for example, Georgia where this tariff makes 257-283 USD.
K. Karapetian said that Armenia is the only country to receive Russian gas for 110 USD for 1,000 cubic meters. For Example, Russia supplies gas to Belarus for 128 USD, to Lithuania- for 340-380 USD, Bulgaria - for 276 USD, Sweden - 904 USD and to Denmark - for 1,115 USD.
According to K. Karapetian, the chairman of Gazprom company’s board Alexey Miller will visit Armenia in May. During the visit, the formula of gas tariff formation for the next three years will be determined. K. Karapetian expressed confidence that henceforth too gas will be accessible both to residents-users and to the business environment.

- DIRECT INVESTMENTS IN ARMENIAN ECONOMY GROW BY 34% IN 2007 AS COMPARED WITH PREVIOUS YEAR
/APRIL 16/NOYAN TAPAN/

- AUTHORIZED CAPITAL OF ARMRUSGAZPROM COMPANY TO MAKE ABOUT ONE BILLION DOLLARS IN 2009
/APRIL 16/NOYAN TAPAN/

- EMIGRATION OF ARMENIANS DECREASES
/APRIL 16/Hayots Ashkhar Daily/

- ARMENIA TO CONSUME OVER 2.1BLN CUBIC METERS OF GAS IN 2008
/APRIL 17/ARKA/

- 37% OF YEREVAN RESIDENTS TO HAVE 24-HOUR WATER SUPPLY
/APRIL 17/ARKA/

- NOT ONLY STATE SUBSIDIES BUT ALSO THEIR RATIONAL USE BY CITIZENS MAY WITHSTAND RISE IN PRICES FOR ELECTRICITY AND GAS
/APRIL 17/arminfo/

- RUSSIA TO RESUME POSTAL COMMUNICATION WITH GEORGIA
/APRIL 17/ARMENPRESS/

- NUMBER OF GAS NETWORK SUBSCRIBERS 530,000 IN ARMENIA AS OF APRIL 15
/APRIL 17/ARKA/

- DEG COMPANY ACQUIRES 13.5% OF ARMENIAN INECOBANK’S SHARES
/APRIL 17/ARKA/
DEG, Deutsche Investitions und Entwicklunsgesellschaft mbH, a member of KfW banking group, has bought 13.5% of Armenian Inecobank’s shares belonging to ShoreCap International.

- PRESIDNET SARGSYAN HELD A WORKING MEETING WITH LEADERSHIP OF THE STATE CUSTOMS COMMITTEE
/APRIL 17/armradio.am/

- ENSURING TRANSPARENCY TO BE ONE OF MAIN FOCUSES IN ARMENIAN GOVERNMENT ACTIVITIES : PRIME-MINISTER OF ARMENIA TIGRAN SARGSIAN SAID
/APRIL 17/ARKA/

- BELGIAN VDK SPAARBANK TO PROVIDE $3 MILLION TO ARMENIAN INECOBANK AS LOAN
/APRIL 17/ARKA/

- ARMENIAN PRIME MINISTER : INCREASING AGRICULTURAL PRODUCTION MAY CONSIDERABLY EASE THE PEOPLE’S CARE
/APRIL 17/NOYAN TAPAN/

- OVER 121 THOUSAND TONS OF DIESEL FUEL AND 167 THOUSAND TONS OF GASOLINE IMPORTED INTO ARMENIA IN 2007
/APRIL 17/NOYAN TAPAN/

- 17 BIG COMPANIES PRIVATIZED IN ARMENIA LAST YEAR
/APRIL 17/NOYAN TAPAN/

- "NAIRIT" RECONSTRUCTION 252 MILLION DOLLARS
/APRIL 18/Panorama.am/
Polish company PBG PBGG.WA announced that a contract is signed with the "Nairit" chemic company and 252mln dollars will be invested to reconstruct and modernize the former Nairit.

- RESIDENTS COMPLAIN OF RISE IN PRICES
/APRIL 18/A1+/

- LONDON STOCK EXCHANGE OFFERS ARMAVIA TO ISSUE IPO
/APRIL 18/ARKA/

- IMF HOPES FOR FURTHER COOPERATION WITH ARMENIA
/APRIL 18/ARKA/

- ARMENIAN MAGAZINE IN INDIA RESUMED AFTER TWO CENTURY HALT
/APRIL 18/ARMENPRESS/
Chairman of the Union of Armenian Writers, Levon Ananyan, lavished praise today on Martin Sarkisian, a man who played a key role in resumption of an Armenian language publication in India that was halted for almost two centuries.
As part of the Armenian Library Week Levon Ananyan presented today a copy of Azdarar (Herald) magazine that was resumed in 2007, December 24 in Calcutta, India. He described Martin Sarkisian as a’ a hero.’ "Armenians in Diaspora are losing their language.
Every Armenian wherever he goes should take with himself his school, his church and his newspaper, which are of key importance for Armenian communities scattered around the globe," Martin Sarkisian said.
Azdarar was first published in 1784 in Madras. The current issue is in the Armenian and English languages. The print run is 1000 copies.

- AN ACTION TO PROTECT THE TEKHUT WOOD ORGANIZED BY YOUNG ECO-ACTIVISTS OF ARMENIA
/APRIL 21/arminfo/

- NET FOREIGN DEBT OF ARMENIA GROWS BY 295.35 MILLION DOLLARS TO 920.6 MILLION DOLLARS IN 2007
/APRIL 21/NOYAN TAPAN/

- ARMENIAN GDP GROWS BY 9% IN JANUARY-MARCH 2008 ON SAME PERIOD OF LAST YEAR
/APRIL 21/NOYAN TAPAN/

- DEFICIT OF CURRENT ACCOUNT OF BALANCE OF PAYMENT GROWS BY 1.5% IN ARMENIAN GDP IN 2007 AS COMPARED WITH PREVIOUS YEAR
/APRIL 21/NOYAN TAPAN/

- INFORMATION ON CUSTOMS VALUES OF SOME GOODS ALREADY PLACED ON WEBSITE OF STATE CUSTOMS COMMITTEE (www.customs.am)
/APRIL 21/NOYAN TAPAN/

-HAYPOST AND MICROSOFT TO SIGN AGREEMENT ON COOPERATION
/APRIL 21/NOYAN TAPAN/

- NON-COMMERCIAL TRANSFERS FROM RUSSIA TOTAL $129.2MLN THROUGH ARMENIAN BANKING SYSTEM IN JAN-FEB
/APRIL 21/ARKA/

-ARMENIAN ECONOMIC ENTITIES WILL COMPLAIN DIRECTLY TO CHIEF CUSTOMS OFFICER
/APRIL 21/ARKA/
From now on economic entities in Armenia can make complaints to the Chief of the RA State Customs Committee against customs bodies via electronic mail, Karen Beglaryan, Head of the Customs Improvement and International Relations Department of the RA Customs Committee, told an April 21 briefing.
A link is now active on the committee’s website - www.customs.am -which can be used to submit complaints or proposals to the Chief of the State Customs Committee who will personally read all the letters and issue relevant instructions.

- A NUMBER OF ENVIRONMENTAL PROBLEMS TO BE SOLVED IN PARALLEL WITH ROAD CONSTRUCTION IN YEREVAN
/APRIL 21/NOYAN TAPAN/
5-6 big road construction projects are being implemented under the Master Plan of Yerevan in the city. In parallel with road construction, a number of environmental problems will be solved : in particular, there will be no traffic jams and, by forecasts, exhaust gases from vehicles will be reduced 5 times.
A big ring road will be built from Agatangeghos Street to Avetisian Street, thanks to which vehicles will take 5-10 minutes to go along a freeway from Agatangeghos to Avetisian Street. Construction work is also underway at the crossroads of Sayat-Nova and Khanjian Streets, Alek Manukian Street and New Highway (construction of a road along the course of the Getar River), and Charents and Koryun Streets.
Work will finish in September.

-TIGRAN SARGSIAN : ARMENIAN GOVERNMEMT WILL CONTINUE WORK ON INTRODUCTION OF MULTISTAGE PENSION SYSTEM
/APRIL 21/NOYAN TAPAN/

- SECOND ARMENIAN TOURISM COMPETITIVENESS CONFERENCE TO BE HELD IN YEREVAN IN MAY
/APRIL 21/arminfo/

- RUSSIA, ARMENIA TO SIGN AGREEMENT TUE TO SET UP URANIUM JV
/APRIL 21/Prime-Tass English-language Business Newswire/

- ARMENIA AND NATO TO ASSESS THE ACCOMPLISHMENT OF IPAP IN MAY
/APRIL 22/armradio.am/

- ELECTRIC NETWORK OF ARMENIA TO IMPLEMENT $164MLN INVESTMENT PROGRAM IN 2008-2010
/APRIL 22/ARKA/

- ARMENIAN-RUSSIAN BUSINESS FORUM TO BE HELD IN ARMENIA FROM APRIL 30 TO MAY 3
/APRIL 22/ARKA/

- TIGRAN SARGSIAN : ONE OF GOVERNMENT’S PURPOSES IS TO MAKE ARMENIA A FINANCIAL CENTER
/APRIL 22/NOYAN TAPAN/

- TIGRAN SARGSIAN : ARMENIA SHOULD BECOME REGIONAL HEALTH CENTER
/APRIL 22/NOYAN TAPAN/

- ARMENIA SHOULD TAKE LEADING ROLE IN REGIONAL COMPETITION IN INFORMATION TECHNOLOGY SECTOR, PRIME MINISTER SAYS
/APRIL 22/NOYAN TAPAN/

- URANIUM MINING DRILLING STARTS
/APRIL 22/Panorama.am/

- K-TELECOM FIRST TAXPAYER IN ARMENIA FOR 2008
/APRIL 23/arminfo/
K-Telecom cellular operator (VivaCell trademark, subsidiary of MTS) has become the first taxpayer in Armenia for first quarter of 2008 by paying 6,813 billon drams taxes to the state budget, the Revenue Service of Armenia (RSA) reports. RSA published the list of 300 biggest taxpayers for Jan-Mar 2008.
Armenian-Russian ArmRusgasprom CJSC ranks second in the list by 6,746 billion drams. CJSC ArmenTel (subsidiary of VimpelCom) occupies the third position in the list by 3.681 billion drams. Zangezur Cooper and Molybdenum Plant CJSC paid 3 billion drams taxes and occurred on the 4th position. The last in the top five taxpayers is Flash oil trader by 2.4 billion drams.
CJSC Armenian Electric Networks is in the 7th position by 2.1 billion drams.
Armenian Nuclear Power Plant is in the 13th position and Yerevan Brandy Company is in the 15th position. Ararat Yerevan brandy- wine-vodka plant is in the 42nd position in the list. RusAl Armenal is in the 61st position, Armenian Railway in the 70th position and HayPost CJSC in the 129th position. The International Airports of Armenia, the concessionaire of Yerevan Zvartnots Airport, proved the 142nd yielding to many auto dealers of the country and even electronics shops. Armavia CJSC national air carrier was not included in the list.

- APPLICATION OF MICROSOFT TECHNOLOGIES TO ALLOW ARMENIA CREATING ABOUT 2,000 JOBS OVER 1-2 YEARS
/APRIL 23/ARKA/
- HAYPOST INTRODUCES INSURANCE SERVICES
/APRIL 23/ARKA/
HayPost has signed an agreement with INGO Armenia to provide insurance services to its customers, the Press Service of HayPost reported.
"As of June 1st, HayPost offices will extensively begin selling insurance packages to everyone, ensuring a high accessibility of insurance to all customers, regardless of their location and socio-economic status," says the press release.
HayPost staff is being trained for obtaining the required professional qualifications.
"This is a highly important partnership for HayPost. As part of our expansion plans in the postal and financial services, and in combination with the Postbank, HayPost will increasingly establish itself as a ’one-stop’ service center to make accessible all services to even the most disadvantaged customer," General Director of HayPost Hans Boon said.
In his turn, Executive Director of INGO Armenia Levon Altunyan said that all the required documentation is being sent to the Central Bank of Armenia to provide HayPost with the insurance license.
According to the press release, "the key result of this partnership will be that all underserved customers - far and wide - will have direct and easy access to HayPost and its postal, financial and now insurance services. HayPost closed joint stock company is the national postal operator of the Republic of Armenia. It has 900 post offices and 41 regional departments throughout the country. The company’s staff is 4,000 people. Under the agreement of November 30 HayPost was transferred in trust to the Dutch HayPost Trust Management.

-FULLER VERSIONS OF COMMERCIALS ADVERTISING ARMENIA AS COUNTRY OF TOURISM SENT TO CNN AND EURONEWS
/APRIL 23/NOYAN TAPAN/

- UNEMPLOYMENT FALLS, WAGES RISE IN ARMENIA DURING Q1
/APRIL 23/Global Insight/by Venla Sipila/
There were at a total of 74,700 unemployed in Armenia in the first quarter of this year, ARKA News reports, quoting data from the country’s National Statistical Service. This result marks a fall of 12.7% compared with the first quarter of 2007. In addition, official data for the period show that the average nominal monthly wage reached around 86,500 dram (some $280US), surging by 25.5% in annual comparison. Development of compensation in the private and public sectors of the economy are diverse. Indeed, wages in publicly financed organisations averaged 60,600 dram, rising by 17.6% year-on-year (y/y), while private sector wages gained 27.4% y/y and reached an average of 109,200 dram.
Significance : The newest labour market data indicate further strengthening. The Armenian unemployment rate at the end of last year stood at 6.7%, falling from the year-ago result of 7.2%, while a total of 75,000 unemployed were registered as jobseekers as 2007 drew to a close (see Armenia : 18 January 2008 : ). The now reported annual rise in wages over the first quarter exceeds the growth rate for 2007 as a whole (see Armenia : 28 February 2008 : ). The rise in real wages in early 2008, however, is likely to have been clearly more modest due to rapid inflation. The falling trend in unemployment and growth of wages are likely to continue, but these developments going forward are likely to take place at a more moderate pace than recently, as growth of the booming economy is finally expected to cool somewhat. However, figures on the officially registered unemployed need to be interpreted with caution, as the proportion of the unemployed registering as jobseekers is still low, mainly because the very modest level of unemployment benefits only provides weak incentives to register. The beginning of 2006 saw the implementation of new labour market legislation, and this has led to an increase in the reported number of people taking part in employment programmes. However, it is still likely that the true unemployment rate is higher than the official figures signal.

- GASPROM DECIDED TO RAISE GAS PRICES FOR ARMENIA BY 50%
/APRIL 24/arminfo/
Yesterday, the Board of Directors of Gazprom upheld the decision on rise in prices for the natural gas for the CIS and Baltic countries to the average European, the Kommersant writes. For Russia-friendly Armenia, the new gas price started 2009 will make up $165 per 1 thsd cub m against the present $110. This price will not be raised within the next three years. For the rest CIS countries, Gazprom schedules gradual rise in prices to the average European level, which is determined as a price on Poland-Germany border minus the transport expenses (in Byelorussia and Ukraine minus the customs duty as well). Today’s high gas prices for the Baltic countries, which purchase about 5,5 bln cub m of gas a year, are compensated by reduced prices for CIS countries. Only Georgia receives gas at a relative high price - at $270 per 1 thsd cub m. To note, RA Prime Minister Tigran Sarkisyan has recently told journalists that Chairman of the managing Board of Gazprom OJSC Aleksey Miller will arrive in Yerevan in May, 2008, to negotiate with the Armenian government regarding the new gas prices for the next three years.

- "OUR HOME 2008" EXPO OPENS IN YEREVAN
/APRIL 25/PanARMENIAN.Net/

- ARMENIAN ENTERPRISES TO BE INVOLVED IN DEVELOPMENT PROGRAM IN CSTO MILITARY-INDUSTRIAL COMPLEX
/APRIL 28/ARKA/

- TAXES OF 75 BILLION DRAMS COLLECTED IN FIRST QUARTER
/APRIL 28/NOYAN TAPAN/

- 100-200 MILLION DOLLARS NEEDED TO RESTORE EXPERIMENTAL BASIS OF RA NAS
/APRIL 28/NOYAN TAPAN/

- ARMENIAN RAILWAYS TO BE PLACED UNDER CONCESSION MANAGEMENT OF RUSSIAN RAILWAYS ON JUNE 1, 2008
/APRIL 28/SKRIN Market & Corporate News/

- PM SAYS ARMENIA TO CONTINUE TO RECEIVE RUSSIAN GAS ON PREFERENTIAL TERMS FROM 2009
/APRIL 28/Global Insight - by Andrew Neff

- "VTB" BANK ARMENIA ESTABLISHES HYPOTHEC CENTER IN YEREVAN
/APRIL 29/Panorama.am/

- CBA AUCTION FOR REDEMPTION OF MEDIUM-TERM GOVERNMENT BONDS DUE MAY 6
/APRIL 28/ARKA/

- THE SUPREMACIES OF THE GOVERNMENT PROGRAM
/APRIL 29/Hayots Ashkhar Daily/
The new program of the executive has been confirmed during the extraordinary government session yesterday. Today the latter will be sent to the NA. Five key supremacies have been advanced in the program. Ensuring sustainable development by means of National Security and active economic policy is the main supremacy of the government.
The second supremacy will be the formation of an effective state system, local self-government, and private sector, the establishment of the culture of corporative governance.
The third supremacy is the development of education and science, thus confronting challenges of the 21st century.
The fourth supremacy is the proportional territorial development, which presumes unloading Yerevan : the capital city is overloaded with cultural, health, industrial, state governance, justice and financial, functions.
The fifth supremacy is to ensure broad social target programs, with the participation of the private sector, which will also improve the moral—psychological atmosphere.