Tag Archives: Armenia

Remittances from Russia to Armenia rise

AUG. 10 2017 (The Bulletin) — Remittances from Russia to Armenia increased by 15.5% in the first half of the year, compared to the same period in 2016, the Armenian Central Bank said, an important indicator that the economics of the region are beginning to improve. In total, flows from Russia, an important hub for Armenian migrant workers, hit $408m between January and June. The economies of the region are partly reliant on Russia to generate wealth for migrant workers.

ENDS

(News report from Issue No. 339, published on Aug. 13 2017)

A man shots dead people in Armenia

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AUG. 1 2017 (The Bulletin) — A man shot dead at least four people at a funeral in rural Armenia after a suspected row over loans, media reported. At least eight other people were injured in the shooting at the Yazidi funeral. The attack is potentially the worst mass murder in Armenia since a Russian soldier stabbed to death a family of seven near a Russian military base in the city of Gyumri in 2015.

ENDS

(News report from Issue No. 336, published on Aug. 5 2017)

Armenia accuses Kremlin of imperiallism

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JULY 12 2017 (The Bulletin) — Armenian lawmakers accused the Kremlin of outdated imperialism after its parliament passed a law which said that citizens of other Eurasian Union countries — Belarus, Kazakhstan, Kyrgyzstan and Armenia — could only work as commercial drivers in Russia if their countries recognised Russian as an official language. The only Eurasian Union country that doesn’t is Armenia.

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(News report from Issue No. 337, published on July 27 2017)

China-Armenia trade rises

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JULY 22 2017 (The Bulletin) — Trade turnover between Armenia and China in the first five months of the year was 28.4% higher in 2017, at $194.9m, than during the same period in 2016, media reported. The rise shows the impact of China’s “Belt and Road” policy, a drive to spread its influence through trade across Central Asia and the South Caucasus.

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(News report from Issue No. 337, published on July 27 2017)

Analysts warn of Azerbaijan- Armenia war

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JULY 5 2017 (The Bulletin) — Azerbaijan and Armenia are drifting towards war over the disputed region of Nagorno-Karabakh, analysts warned after a shell killed a grandmother and her grandchild on the Azerbaijani side of the conflict. Azerbaijan accused the Armenian side of shelling civilians. Armenia-backed rebels said that Azerbaijan had deployed weapons deliberately close to civilians. Commentators have been warning throughout the year that tension in the region is close to triggering another major outbreak of violence. This last exploded in April 2016.

ENDS

(News report from Issue No. 336, published on July 16 2017)

Armenian Lydian secures more support

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JULY 4 2017 (The Bulletin) — Armenian gold miner Lydian said that it had secured another $25m loan from the Orion and Resource Capital funds, specialist mining creditors, to help pay for the construction of its operations at its Amsular site in the south of the country. Earlier this year it also secured a $50m loan for funding on the same project from ING Bank. Armenia has been looking to boost mining projects.

ENDS

(News report from Issue No. 336, published on July 16 2017)

Booking.com responds to Azerbaijan’s complaint

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JUNE 29 2017 (The Bulletin) — Booking.com, the Netherlands- based hotel booking website, has stopped making bookings for hotels in Nagorno-Karabakh, the region disputed between Azerbaijan and Armenia, after complaints from the Azerbaijani government, Baku- based media reported. It said that the Azerbaijani government had complained that Booking.com was breaking international law by making hotel bookings in the disputed region. Since a 1994 ceasefire, forces-backed by the Armenian government have controlled Nagorno-Karabakh.

ENDS

(News report from Issue No. 335, published on July 3 2017)

Armenia’s CB keeps interest rates steady

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JUNE 27 2017 (The Bulletin) — Armenia’s Central Bank kept its key interest rate unchanged at 6%, holding true to is assessment earlier this year that it would stop its easing cycle to ward off a potential jump in inflation. Armenia had been measuring deflation until the start of this year when it said that the economy had turned a corner and that prices were now rising. It had steadily slashed its interest rate from 10.5% in 2015 to 6% in February 2017.

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(News report from Issue No. 335, published on July 3 2017)

Unemployment rate rises in Armenia

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JUNE 30 2017 (The Bulletin) — Armenia’s unemployment rate hit 19% in the first quarter of the year, highlighting the impact of an economic downturn. The unemployment rate has risen steadily since 2014. In 2013/14 it hovered between 15% and 16%. Like the rest of the region, Armenia’s economy has been hit by a drop in oil prices that has dragged down the Russian economy.

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(News report from Issue No. 335, published on July 3 2017)

Armenia-Syria flights resume

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JUNE 29 2017 (The Bulletin) — Cham Wings, a Syrian private airline, flew the first scheduled passenger flight from Damascus to Yerevan for four years. Cham Wings has said it intends to fly the route every week. There are no plans to restart the Yerevan- Aleppo route. On board the Cham Wings flight were 100 passengers, mainly Syrians of Armenian descent.

ENDS

(News report from Issue No. 335, published on July 3 2017)