Armenian Economic Newspaper Launched

If you don't get the little joke with the picture above, then you should probably stay away from a career in literature or business. Oh, and humor.

"Capital" economic weekly newspaper in Armenian language has been launched in Armenia. It will only cover the business and economic news of both local and international importance, Chairman of Editorial Board of the magazine Araik Manukian reported.

Manukian pointed out that the newspaper adheres to the principle of not having staff reporters. The newspaper intends to cooperate with professionals on contract bases, Manukian said.

Not only is it Armenia's first economics-only newspaper, it is also very much like a printed blog!

Source: Arka

Russia to Double Investments in Armenia

Translation: Russia will buy up more of Armenia!

"Today, the volume of Russia's accumulated investments in Armenia makes up 800 million dollars. But three Russian companies - VympelKom, Rusal and Gazprom are planning investments and already investing," he added.

"It will double the volume of investments to 1.5 billion dollars in the nearest future," Putin stated.

"Other companies also display an interest in working on the Armenian market. It instills optimism," he added

Alone Vympelcom's investments will make up 490 million dollars," the Russian president noted.

Hooray for capitalism! While increased investment is always a good thing, we should stop to realize the potential consequences of so much Russian money in a tiny country like Armenia.

Source: Itar-Tass

Apple Computer Wants Big Bite Out of Armenian Market

Not content with the sales of millions of iPods and other Apple items, the company recently began its presence in the Armenian market.

Officially the [Apple] Center opened on December 15, 2006, and the Company was registered in May 2005. There is demand practically for all the "Apple" production. The Armenian computer market is already practically formed, and the "Apple" production is a somewhat different approach to the world of computers.

In the nearest future we intend to cover the level of 30-40% of the market - this is a very serious index. It is reasoned by the quality of the production and the pricing policy of "Apple". So, in Yerevan the "Apple" equipment cost only 5-7% more expensive than in the USA.

The prices of the "Apple" computers in the Armenian Center start from $1700. We also realize credit sales with 20% pre-pay and 6-12 months credit term.

It's always surprising to me that there are people in Armenia with enough money to buy $100,000 cars, $2,000 computers, and $5,000 purses. Besides the minority that rules the country in a virtual monopoly, how do the rest of them generate such enormous sums? What percent of Armenians can afford a $1,700 computer?

Source: Banks.am

Trees Cut Down to Build New Hotel

Another story that I'm too disgusted to even type.

The grove near Aghayan 19 and Teryan 56 no more exists. Two days ago the residents of those houses woke up to find out that the 20 healthy trees of the grove have been chopped down. They could not prevent the trees from being cut as the policemen did not allow them to interfere. Several residents managed to take photos with cell phones.

The plan to cut down the grove was created in 2002 by Nushikyan Association which intends to build a four-storied hotel instead. The project had been rejected more than once but in 2006 it was finally accepted.

The residents of the nearby houses have created a committee protecting their rights, with Rouben Torosyan at the head. They have sent letters to Robert Kocharyan, RA Prime Minister, the head of the Police, as well as the RA Ombudsman and the Public Prosecutor. Mayor Yervand Zakharyan had promised that the trees would not be cut down.

Capitalism over common sense, as always. When will it change? When will Armenia itself be uprooted for the construction of a series of pipelines or something completely devastating on a massive scale?

What I do like about this story is the democratization of media: people with cell phones. Imagine if they had not been there: would this story have had the same impact? Doubtful.

Source: A1+