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Armenia to Join Enterprise Europe Network on June 20

YEREVAN, May 27. /ARKA/. Armenia is to officially join the Enterprise Europe Network (EEN) on June 20, Executive Director of Armenia's Small and Medium Entrepreneurship Development National Center Ishkhan Karapetian.
This organization gives local companies broader opportunities for accessing the European market, receiving cooperation offers and orders from European enterprises and for participating in financial projects implemented within the European Union, Karapetian told a press conference. Along with Armenia some EU-member countries, as well as Israel, Switzerland and Chili will join the EEN. Currently 40 countries are members of the EEN that includes 600 organizations and 23mln small and medium business entities and has 4,000 employees

Armenia's inflation rate lowest in CIS at 1st q 2008

YEREVAN, May 7. /ARKA/. Armenia showed the lowest inflation rate - 7.9% - among CIS countries at the 1st quarter 2008 as compared with the corresponding period last year, statistical committee of the Commonwealth of Independent States reports. Increase in consumer prices averaged 15% in the Commonwealth at the mentioned period.
According to the CIS statistical report, an average inflation was recorded at 1.4% in March as compared with February. Inflation was seen in all the CIS member countries. Quarterly increase in consumer prices was highest in Tajikistan - 26.2% (0.9% inflation in March as compared with February). Ukraine with its 22.5% (3.8% in March compared with February) follows Tajikistan. The statistical report says 22.4% (2.3%) was recorded in Kyrgyzstan, 18.7% (0.6%) in Kazakhstan, 16.5% (3.1%) in Azerbaijan, 14.7% (1.1%) in Moldova and 13.0% (0.8%) in Belarus. M.V.

EU intends to provide preferential terms to Armenian exporters

YEREVAN, June 5. /ARKA/. The European Union intends to provide preferential terms for export of goods to the territory of EU countries to speed up the European integration process in the country, Deputy General Director of the General Directorate of the European Commission for External Affairs Hugues Mingarelli. Particularly, customs dues for Armenian goods are expected to be considerably reduced, he said at his meeting with students of the French University. Mingarelli reported that a survey was conducted to find out the possibility of a common free trade zone between Armenia and the EU. The EU intends to start negotiations with the Armenian authorities on this issue in the near future. Mingarelli pointed out that the Nagorno-Karabakh conflict and Turkey's blockade around Armenia impedes the Eurointegration of Armenia and implementation of a number of programs with the EU. According to the RA National Statistical Service, Armenia's foreign trade turnover with the EU countries had totaled $596.9mln by the end of April (a 35.1% increase) with its share in the overall foreign trade turnover of Armenia being 39%. Armenia's exports to the EU countries totaled $194.4mln over the period (28.1%), imports - $402.5mln (38.7% increase). N.V

HSBC Bank Armenia Called 2008's Best Asian Bank in Developing Countries

YEREVAN, MAY 15. /ARKA/. Global Finance Magazine has named HSBC Bank Armenia as "2008's Best Asian Bank in Developing Economies". The Public Relations Department of the bank's Armenian branch said the winner in the nomination was selected according to such criteria, as services provided to clients, competitive rates, introduction of new services, etc.

The selection was based on the opinion of the magazines' editor, leading banking analysts, as well as corporate directors and banking consultants. The survey results will be officially publicized in the magazine's May issue.
HSBC Bank Armenia, the daughter bank of HSBC Bank plc, was registered on September 25, 1995. HSBC Bank plc owns 70% shares of HSBC Bank Armenia with the other 30% possessed by foreign Armenian investors. The bank has 10 branches in Yerevan. According to the March 31 data, the bank's assets totalled 101.1bln drams with the capital totalling 12.6 bln AMD. The profit of the bank in the 1st quarter of 2008 totalled 841.3mln drams, the balance profit totalling 9.6 bln drams. ($1- 307. 50 drams).


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