Tag Archives: Armenia

Armenia’s construction sector drops

JAN. 26 2015 (The Conway Bulletin) — Building work in Armenia fell by 4.3% last year compared to 2013, data released by the national statistics agency showed. The construction sector is an important part of the Armenian economy and its decline highlights the problems faced by business as it deals with the fallout from Russia’s economic downturn.
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(News report from Issue No. 216, published on Jan. 28 2015)

Armenia looks to cut tax on export profits

JAN. 23 2015 (The Conway Bulletin) — Looking to boost exports, lawmakers in Armenia have drafted a bill to cut export profit tax to 2% from 20% for large exporters. The government says the tax cut will create jobs. Its opponents say that the tax cut will dent competition and simply help large companies retain their dominant market positions.
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(News report from Issue No. 216, published on Jan. 28 2015)

Armenia increases re-financing rate

JAN. 22 2015 (The Conway Bulletin) — Armenia’s Central Bank increased its refinancing rate, the cost it charges other financial institutions to borrow money, by 1% to 9.5% to slow inflation. In December, the Central Bank increased the refinancing rate to 8.5% from 6.5%. New data showed prices rose 4.6% in December.
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(News report from Issue No. 216, published on Jan. 28 2015)

Traders in Armenia protest against new tax code

>>New tax code is an effort to stop tax evasion>>

JAN. 26 2015 (The Conway Bulletin) — A new tax code in Armenia is upsetting the very people it is supposed to be helping.

The government has decided to reduce the tax for small business, those earning less than $122,000, to 1% of their sales from 3.5%. The downside of the new law is that the traders and shopkeepers have to document more closely their sales.

Media reported that hundreds of traders demonstrated in front of the parliament building against the new tax laws. Their problem is the introduction of the extra paperwork.

The bottom line is that the government wants to increase tax receipts. To do this it has decided to crackdown on tax evasion and the fiddling of receipts. And this is where the problem lies. The Armenian traders’ will have to fill in more paperwork and, they say, will actually earn less under the new tax code because they will have to declare more of their sales.

The small traders have also complained that they are being used as guinea pigs before the new tax code is rolled out to bigger businesses.

With the Armenian economy reeling from the turmoil in Russia, the government is desperate to highlight good news. It has already had to postpone the introduction of the new tax code from November until Feb. 1. The issue is becoming increasingly contentious.
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(News report from Issue No. 216, published on Jan. 28 2015)

Armenia and Azerbaijan row over N-K

JAN. 23 2015 (The Conway Bulletin) — Azerbaijan accused Armenia of launching a raid across its borders, another escalation of tension between the two neighbours over the disputed region of Nagorno-Karabakh. The two sides disagreed on the number of casualties.
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(News report from Issue No. 216, published on Jan. 28 2015)

Prices fluctuate in Armenia

JAN. 19 2015 (The Conway Bulletin) — Price changes in Armenia have become increasingly erratic as the country tries to deal with the fallout of the Russian economic slowdown. In August, media quoted the national statistics agency as saying that deflation in Armenia measured 5.2% but for the rest of the year inflation averaged 6.5%.
ENDS

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(News report from Issue No. 215, published on Jan. 21 2015)

Russian court to try soldier for Armenian murders

>>Murders have strained Armenia-Russia relations>>

JAN. 20 2015 (The Conway Bulletin) — A Russian soldier who allegedly killed a family of seven near his base in Armenia will be tried in a Russian military court and not by an Armenian civil court, media reported.

On Jan. 19, a week after six members of the same family died, a six-month-old baby died of wounds sustained in the same attack. No motive has been put forward for the murders.

The news that Valery Permyakov, the soldier who reportedly shot dead the family and then went on the run, will be tried in a Russian military court rather than an Armenian civil court will enflame tension further.

On Jan. 15, three days after the murders, several thousand people demonstrated in Yerevan and Gyumri, where Russia keeps a large military base, calling for the soldier to be handed over to Armenian police.

Reports from the demonstration at Gyumri said that 12 people were injured in fighting with riot police.

Relations between Russia and Armenia are generally cordial — Armenia has joined the Russia-led Eurasian Economic Union and also looks to the Kremlin to both support its economy and also to keep the military balance in the region — but the murders and the economic slowdown have strained ties.

For Armenian president Serzh Sargsyan, the murders and the public discontent they have fermented, represent a problem. He needs to ensure that relations with Russia remain good but that the protesters also feel like they are being listened to.
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(News report from Issue No. 215, published on Jan. 21 2015)

Attackers beat civil activist in Armenia

JAN. 18 2015 (The Conway Bulletin) — Masked attackers beat a high-profile civil rights activist Vilen Gabrielian in Yerevan with wooden clubs, media reported. Mr Gabrielian was hospitalised after the attack with head injuries. One of his colleagues said that the attack was linked to his work The authorities have not confirmed this.
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(News report from Issue No. 215, published on Jan. 21 2015)

Armenian economy to stagnate

JAN. 15 2015 (The Conway Bulletin) — The inter-government European Bank for Reconstruction and Development (EBRD) said the fall in the Russian rouble and a general economic downturn will knock Armenia’s economy into a recession this year. Armenia’s economy is particularly tied into Russia’s fortunes.
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(News report from Issue No. 215, published on Jan. 21 2015)

Russian soldier murders Armenian family

>>Murders trigger anger at Russian base>>

JAN. 13 2015 (The Conway Bulletin) — A Russian soldier serving at Russia’s vast military base at Gyumri in Armenia murdered six members of a family and went on the run before being captured, media reported.

The killings have raised tension around the base with dozens of demonstrators reportedly calling for an apology from the base commander.

Gyumri is one of Russia’s largest overseas bases with about 3,000 soldiers stationed there. Armenia’s government views it as an important counterbalance to increasing Azerbaijani military dominance in the region.

Russian officials said that the soldier, named as Private Valery Permyakov, had been captured trying to cross into Turkey a few hours after the murders. No reason for the murders has been given.

According to officials, Permyakov shot dead six members of a local family. The only survivor was a six-month-old boy who was stabbed.

ENDS

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(News report from Issue No. 214, published on Jan. 14 2015)