Michael Vardanyan, Armenia’s newly appointed permanent representative to the Black Sea Economic Cooperation Organization presented his credentials to BSEC Secretary General Leonidas Chrisanthopoulos.

Mr. Vardanyan stressed the importance Armenia attached to participating in the activities of the BSEC. At the meeting urgent issues of cooperation and the future of the Armenia-BSEC partnership were covered.

First “Bjni” now “Byuregh”: Authorities seek to cripple opposition supporters

Khachatur Sukiasyan supported the candidacy of Levon Ter-Petrosyan in the 2008 presidential elections and has paid the price.

Even though he was “granted” his freedom after coming out of hiding, the preliminary investigation in his case continues. »»»»»

RoA Prime Minister publicly admonished Agricultural Minister Gerasim Alaverdyan during a government session for a lacklustre and unacceptable work record. PM Sargsyan declared that his government would no longer tolerate such behaviour in his cabinet, saying that the president had the directed government officials to expose shortcomings and deficiencies in their ranks. »»»»»

Levon Zurabyan, a representative of the opposition HAK political alliance, presented a broad outline of the organization’s economic platform entitled “100 Steps” and said that the full program will soon be unveiled to the public.

Mr. Zurabyan said the program offers specific solutions and mechanisms to develop the ailing Armenian economic sector and to create a level competitive playing field for Armenian citizens. »»»»»

Arsen Ghazaryan, President of the Union of Manufacturers and Employers of Armenia, said that plans were underway for a Turkish-Armenian economic forum to be held in Istanbul or Yerevan. Mr. Ghazaryan made the announcement at the “Bridge-2010″ business forum on Saturday in Tzaghkadzor.

Mr. Ghazaryan also said that a delegation from Turkey had also been invited to attend the “Bridge-2010″ forum, but that it cancelled for reason unknown.

This year, work to supply the NKR towns of Martakert and Hadrut with gas is scheduled to begin, this according to Karlen Petrosyan, head of the NKR’s Department of Industrial Infrastructure.

Mr. Petrosyan said that gas distribution work will also take place in the village of Nerkin Horatagh in the Martakert district and the village of Patara in Askeran. He said that as of January 1, 2010, some 23,347 apartments in the country had been registered as customers of the “ArtsakhGaz” utility.

After launching commercial services in Armenia on November 5, 2009, Orange Armenia has already registered 200,000 subscribers to its array of mobile phone and internet services. The company is owned by France Telecom.

Orange Armenia has already invested $148.5 million to provide necessary expertise and investment to ensure the development of a high-quality 2G and 3G+ network offering nationwide coverage. Before Orange’s entry in Armenia, the market was previously a duopoly of VivaCell-MTS and ArmenTel (Beeline).

Vazgen Safaryan, chairman of the Union of Domestic Manufacturers of Armenia, today said that for the past twenty year, the Armenians government hasn’t directed enough attention to the manufacturing sector.

Mr. Safaryan, at a press conference, argued for drastic changes to Armenia’s economic thought process. He also referred to the expected price hikes in gas supplies and said that manufacturers were worried about the impact it would have. »»»»»

On January 29, the Kentron and Nork-Marash District Court is scheduled to examine the suit that the German portfolio investment firm “Ostinvestor” has filed against Gagik Tsarukyan’s “Yerevan Ararat Brandy”.

“Ostinvestor”, a German portfolio investment firm, claims that Tsarukyan, who heads the Prosperous Armenia Party, illegally obtained the shares through a questionable stock consolidation deal. It wants to get the shares back. »»»»»

Shirak Marz in northern Armenia is considered to be a “risk zone” in terms of investment and business endeavors.

There is an organization, the Gyumri Small and Medium Business Development Center, located the regional center of Gyumri, designed to provide loans and technical advice to aspiring entrepreneurial activities. »»»»»

It appears that the strikes and protest actions of Deno Gold Mining Company workers at the former Kapan Mining Enrichment Combine have become an ongoing tradition.

Strike actions are quickly organized and just as quickly halted, when the workers meet with the Regional Governor of Syunik. Another strike is looming, disgruntled workers say. »»»»»

At a press conference today, Vardan Postanjyan, a Prosperous Armenia Part MP and President of the Parliamentary Standing Committee on Economic Affairs, stated that despite the $3.5 billion foreign debt of Armenia and the lack of resources, the country would never be considered a credit risk. He said that if Armenia pursued a correct economic policy, the increasing foreign debt issue could be managed.

Sounding a more pessimistic note was Bagrat Asatryan, former President of the RoA Central Bank. He noted that Armenia’s foreign debt increased by $2 billion last year and that Armenia’s economic downfall was the largest of all CIS countries. »»»»»

Yesterday, the Estonian Financial Inspectorate fined “GILD Arbitrage Risk Capital Fund” 250,000 kroons (about $25,000) for providing its investors false information regarding its status in Armenia. The firm had declared that it had obtained licenses to operate mines in Armenia while in fact it had merely been granted exploratory permits.

Readers will remember that “Hetq” had published two articles regarding “GILD” (Fact or Fiction? – GILD Arbitrage Risk Capital Fund Claims 20 Million Euro Armenian Investment; What Has Become of GILD Arbitrage Fund’s Purported 20 Million Euro Investment in Armenia’s Mines?), noting the firm’s claim, published in its 2008 financial report to investors, that it had invested 20 million Euros in Armenia’s mining sector. “Hetq’s” coverage was picked up by the Estonian press but there was no official reaction here in Armenia. »»»»»

Today, Avag Harutyunyan, President of the Armenian Association of Vintners, spoke to reporters about the effects of the global economic crisis on winemaking in Armenia. He noted that wine production had risen 10% and cognac production had dropped 50% in the first seven months of 2009, as compared with the last seven months of 2008.

In comparison, Mr. Harutyunyan noted that wine production had dropped 10% and cognac had risen 14% during the last four months of 2008 as compared to the same period in 2007. »»»»»

The mining sector in the district of Tumanyan, nestled in the picturesque natural splendor of Lori Marz, is expanding without hindrance. The rich copper and gold reserves found here are controlled by three of Armenia’s biggest companies. The mine at Teghut is owned by Vallex Group; Metal Prince Ltd. owns the twelve mines in Shamlugh and the Mghart gold mine is in the hands of Gagik Tsarukyan’s Multi Group. »»»»»