A magnitude 3.5 earthquake was registered 3 km southeast of the village of Shorzha in Armenia’s Gegharkunik province at 22:09 local time (18:09 GMT), the Ministry of Emergency Situations reports.
The quake was felt in Gegharkunik, Kotayk and Tavush regions.
The Warsaw Stock Exchange wants to acquire majority stake in Armenia's Securities Exchange
BY ARA KHANJIAN
The Central Bank of Armenia, which controls 90.05 percent of the Armenian Securities Exchange on Tuesday agreed to sell a 65.05 percent stake to the Warsaw Stock Exchange (GPW).
The AMX is the only securities—mainly bonds—market in Armenia. After the proposed acquisition by the GPW, the CBA will control only 25.02 percent of AMX shares, while the remaining 9.95 percent will continue to be controlled by the AMX.
The CBA said that the partial sale of the AMX to the GPW will contribute to the development of bond and stock markets in Armenia because GPW’s proposed development program intends to improve the infrastructure of these markets, such as development of the trading system and the introduction of the most recent technological mechanisms.
The CBA also said that the investment of GPW in AMX will contribute to the integration of the Polish and Armenian capital markets, which could create new opportunities for both Armenian and Polish investors and companies.
Most of AMX transactions involve bonds, which are issued mostly by the government and the banking sector. A relatively small fraction of the bonds that are traded on the AMX are issued by companies. This implies that at this stage the Armenian Securities Exchange, functions more as a bond market than as a bond and stock market. In other words, the AMX raises capital for corporations and governments mainly through the trade of bonds. A bond is a financial instrument that a corporation or a government sells to individuals and institutions.
When Corporations and governments issue new bonds and sell them, basically, they are borrowing money from individuals or institutions with the promise of paying back in the future, for example in six months, two years, or 10 years, plus interest. Through stock and bond markets, corporations and governments generate funding directly from individuals and institutions for their investments, growth and expenditures. This implies that for the economy of a country to grow, it is essential to generate a developed stock and bond markets, besides a well-developed banking sector.
For example, if an entrepreneur starts a successful business or if a group of individuals create a successful cooperative and if they need additional funding to build a new factory and buy new machines, they will need large amount of new funds. If in that country there is a developed bond market, then they could sell new bonds there and borrow money for their investment, contributing to the economic development of the country.
According to the CEO of the Armenian Stock Exchange, Hayk Yeganyan, one reason that the stock market in Armenia is not developed is lack of trust. The prospective stock buyer in Armenia has doubts about whether investment will be safe and profitable. For this reason, most of them buy government-issued bonds, because there is a lower probability that Armenia’s government will go bankrupt than a private Armenian company. Also, in general, stocks are riskier than bonds because when a company goes bankrupt, first bond holders are paid and then stock owners. According to Yeganyan, for the development of the stock market it is essential for the country to adopt the necessary laws and to create the necessary regulations and a regulatory agency, which could increase transparency and could invest boost confidence to buy stocks, indirectly contributing to the development of a stock market.
Azerbaijan and the European Bank for Reconstruction and Development (EBRD) will sign deals in the alternative energy sector.
The remarks were made by EBRD Head of Azerbaijan Kamola Makhmudova at the EU-Azerbaijan business forum on May 17, Azernews reports citing Trend.
She noted that the bank implemented projects in Azerbaijan in the sphere of green technologies in previous years, ensuring the safety of industrial waste. Makhmudova added that this work was carried out in large cities, and this trend will continue in the future.
"EBRD is involved in other large projects, in particular in the agriculture and transport sectors, and also in the sphere of alternative energy. The bank plans to expand its participation in the sphere of alternative energy," she said.
Makhmudova also added that it is planned to sign relevant agreements by the end of May as part of the construction of power plants with an installed capacity of 230 mW and 100 mW.
Moreover, she stated that the bank is ready to share its experience with Azerbaijan in the field of boosting control of overpayments.
Stressing that reforms in the banking sector should be aimed at strengthening control of overpayments, she noted that the cooperation of the EBRD with the state structures of Azerbaijan in this direction is an important element.
"We are ready to share our experience with banks and the regulator within these works," she said.
The EBRD office head also noted that the growth of the Azerbaijani economy and the investment potential of the country creates an opportunity to increase foreign direct investment.
"This is facilitated by the reforms carried out in recent years and the increase in the loan portfolio," she said.
She noted that the Central Bank of Azerbaijan is carrying out work contributing to the growth of the economy, employment, and the use of preferential mortgages.
"It’s also necessary to note the leading role of the regulator in the field of social security of the population during the COVID-19 pandemic," she said.
Additionally, she added that the economic zones being created in Azerbaijan, including those in the territories liberated from Armenian occupation, also contribute to the growth of foreign direct investments.
Established in 1991, EBRD invests in projects that contribute to the transition to an open market economy, as well as the development of private and business activities.
Earlier, the bank approved a $51 million loan for the construction and subsequent operation of the Garadagh solar power plant, to be built by the UAE's Masdar in Azerbaijan.
Moreover, on May 12, Azerbaijan and European Bank for Reconstruction and Development (EBRD) signed a loan agreement to finance the "solid waste management" project in Ganja. The project is part of Ganja’s engagement in the EBRD's Green Cities program and will trigger the development of a Green City Action Plan (GCAP). The €10 million loan will be used to introduce smart waste collection and route optimization systems. New container types, enhancement of the current fleet, and introduction of greener vehicles will significantly reduce the carbon footprint of the city’s municipal services.
Azerbaijan has been a member of the EBRD since September 25, 1992. The main strategic directions of the EBRD's activity in Azerbaijan, are the diversification of the economy, the development of local capital markets, and the support of the green economy. To date, the EBRD has invested over €3.5 billion through 181 projects in the country.
One of the main priorities of EBRD in Azerbaijan is to support the local corporate sector with direct financing. EBRD continues to pursue investments in energy projects, especially where there is a gap to improve efficiency and energy security.
Azerbaijan is the largest recipient of the EBRD funds in the Caucasus, as well as one of the largest recipients of this organization’s funds in the CIS and Eastern Europe.
The President of the Republic of Lithuania Gitanas Nauseda arrived in Armenia today on a two-day official visit with his wife Diana Nausediene.
The high-ranking guest was welcomed at Yerevan Zvartnots International Airport by the RA Minister of Health Anahit Avanesyan, the acting Chief of Staff of the RA President Khachatur Poghosyan and other officials.
After the official welcoming ceremony scheduled for May 20 at the residence of the President of the Republic of Armenia, Presidents Vahagn Khachaturyan and Gitanas Nausėda will have a private conversation, which will be followed by an extended meeting with the participation of the delegations of the two countries.
The Presidents of Lithuania and Armenia will make a statement to the press.
The delegation led by the President of Lithuania will visit the Tsitsernakaberd Memorial to pay tribute to the memory of the Armenian Genocide victims, and will visit the Armenian Genocide Museum-Institute.
Within the framework of the official visit, the President of Lithuania is scheduled to meet with Prime Minister Nikol Pashinyan and Speaker of the National Assembly Alen Simonyan. In the Mother See of Holy Etchmiadzin, Gitanas Nausėda will be hosted by His Holiness Karekin II, Supreme Patriarch and Catholicos of All Armenians.
The delegation led by the President of Lithuania will also visit Matenadaran.
13:13, 19 May, 2022
YEREVAN, MAY 19, ARMENPRESS. There is a memorandum on biosafety between Armenia and Russia, all issues raised by Russian partners have always received exhaustive answers. Such laboratories operating in Armenia are aimed at serving only the interests of Armenia, only citizens of Armenia are working there, Secretary of the Security Council of Armenia Armen Grigoryan told reporters after the Cabinet meeting, commenting on the reports according to which there are problems connected with biosafety in Armenia, and the Russian side has questions.
Grigoryan informed that a working group is operating by the decree of the Armenian Prime Minister, which is coordinating the biosafety sector within Armenia. The group is coordinated by the Secretary of the Security Council.
“The working group is working intensively with all our international partners. At the coordination of the working group, specialists from Russia once visited Armenia, and the Armenian side gave exhaustive answers to all the issues voiced by these specialists”, he said.
He assured that only citizens of Armenia work in that laboratories of Armenia. “These laboratories operate according to the Armenian legislation and are aimed at serving only the interests of Armenia. Moreover, issues relating to biosafety have always been on the agenda of the cooperation of the Offices of Security Council of Armenia and Russia. And all questions voiced by our Russian partners have always received comprehensive answers”, Armen Grigoryan said.
He informed that recently the head of the Office of the Secretary of the Security Council of Armenia Hayk Petrosyan visited Moscow where he discussed all the existing issues with the inter-agency commission. “The Armenian side has given exhaustive answers to all the questions. This working group has also discussed deepening the cooperation between Armenia and Russia in the field of biosafety”, he said.
He said that the memorandum on biosafety between Armenia and Russia was signed last year and the cooperation is coordinated by this document. “We continue working on making that memorandum a reality. Armenia continues cooperating with all its partners on biosafety-related issues in order to constantly improve its capacities in resisting different threats. We are conducting this cooperation also based on transparency and high international standards”, Armen Grigoryan said.
Lithuania stops importing electricity from Russia
21:22,
YEREVAN, MAY 20, ARMENPRESS. The import of Russian electricity to Lithuania will be stopped, ARMENPRESS reports, citing "RIA Novosti", the operator of the Lithuanian Litgrid electricity transmission system said.
Nord Pool operator made such a decision on . The import of Russian electricity to Lithuania will be suspended from May 22.
12:38,
YEREVAN, MAY 18, ARMENPRESS. The operation of the Yerevan metro has been paralyzed amid the anti-government protests, the Yerevan Subway said in a statement.
“The citizens carried out a protest action in Yeritasardakan metro station, disrupting the traffic of the subway.
At the moment the doors of all metro stations are closed to avoid overcrowding”, the Yerevan Subway said, adding that additional information will be provided as soon as the subway traffic is restored.
14:47,
YEREVAN, MAY 17, ARMENPRESS. President Vahagn Khachaturyan received today Ambassador of Japan to Armenia Masanori Fukushima, the Presidential Office said.
The Japanese Ambassador congratulated the Armenian President on assuming office, wishing a productive work.
The Ambassador said that this year marks the 30th anniversary of the establishment of diplomatic relations between Japan and Armenia. In this context the sides touched upon the firm inter-state relations formed since the establishment of the diplomatic ties, their development prospects, as well as exchanged ideas about the deepening of the Armenian-Japanese bilateral agenda and mutual cooperation.
The fourth meeting of the EU-Armenia Partnership Council will take place in Brussels and touch on bilateral relations and political matters.
EU member states and Armenia will exchange views on the state of implementation of the EU-Armenia Comprehensive and Enhanced Partnership Agreement, and of the Economic and Investment Plan.
They will also discuss political dialogue and reform, democracy, rule of law and human rights, economic, and trade and sectoral cooperation, as well as the prospects of launching a Visa Liberalization Dialogue.
Participants will have an exchange on regional issues (Russia/Ukraine, Turkey, Iran), and Nagorno Karabakh.
09:28, 3 May, 2022
YEREVAN, MAY 3, ARMENPRESS. On May 2 Armenia and the United States signed a Memorandum of Understanding on Civil Nuclear Cooperation, reports Armenpress.
This document represents another step in the bilateral partnership established in 1997 when the agreement on “Cooperation in the field of nuclear security and exchange of technical information” and subsequent agreements of 2007 and 2017 were concluded.
This Memorandum will strengthen the bilateral cooperation in the field of peaceful use of nuclear energy, providing wider access for the Armenian nuclear energy experts to the latest nuclear safety technologies.
The MoU was signed by Armenian Foreign Minister Ararat Mirzoyan and US Secretary of State Antony Blinken in Washington D.C..
The Armenian FM is in the United States on a working visit.