Yerevan, 22.January.2018,
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Economy

Armenia’s economy to collapse - expert
The expenses presented to the public are exaggerated, management expert HarutyunMesrobian told the reporters on Tuesday, speaking about electricity tariff hike. “Immoral approach is dominating in Armenia,” he said stressing that according to his calculations it is possible to cut the electricity tariff by 15%. “Each company which makes expenses addresses part of them toward making its functions better. Almost all companies are able to cut their expenses at least by 30% without endangering the...
UK inflation rate turns negative
UK Consumer Prices Index (CPI) inflation turned negative in April for the first time on record, falling to -0.1%, official figures show. It is the first time CPI has turned negative since 1960, based on comparable historic estimates, the Office for National Statistics said. The biggest contribution to the fall came from a drop in air and sea fares. The Bank of England has previously warned that inflation could turn negative for a brief period this year. Chancellor George Osborne said t...
China to invest $50bn in Brazil infrastructure
China is planning to invest up to $50bn (£32bn) in Brazil for new infrastructure projects. The deal is due to be signed by banks from both countries during a visit by Chinese Prime Minister Li Keqiang to Brazil next week. The money will go towards building a railway link from Brazil's Atlantic coast to the Pacific coast of Peru to reduce the cost of exports to China. It says the fund will also finance a joint venture to produce steel. Brazil currently exports much of its iron ore to Ch...
German economy slows by more than expected
Germany's economy slowed by more than expected in the first three months of the year, official figures have shown, growing by just 0.3%. That compares with growth of 0.7% in the previous quarter, and was below analysts' estimates of 0.5%. However, France's economy grew at its fastest rate in nearly two years, expanding by 0.6% in the quarter. The growth figure is the strongest since the second quarter of 2013 when France's economy expanded by 0.7%. Last month, INSEE said French consu...
China's exports fall 6.2% in April against a forecast rise
China's monthly trade data has shown exports fell in April from a year ago by 6.2% in yuan terms compared to expectations for a rise of about 1.5%. Imports also fell for the month by 16.1% in yuan terms, compared with forecasts for a fall of about 12%. That means the country's trade surplus has risen to 210.2 billion yuan (£21bn; $32.4bn) from 18.6bn yuan in March. Recent economic data from the mainland has shown further signs that China's slowdown is continuing. "[The surplus rise] ...
Even if Russia gives us gas for free no tariff changes will be for citizens – Va...
Chairman of the temporary ad hoc committee on gas issues Vardan Ayvazyan and economist Vardan Bostanjyan debated today over gas tariffs the possibility of cutting the price. Ayvazyan stressed that to get the final answer to the question how the gas tariff will change it is necessary for Gazprom or Public Services Regulatory Commission present corresponding grounds. “The gas price we pay is being formed on the basis of gas price on the border, preservation expenses and general losses,” Ayvazya...
UK economic growth slows to 0.3%
The rate of economic growth halved in the three months to the end of March, official figures show, continuing a slowdown that began six months ago. The economy grew by 0.3% in the first quarter the Office for National Statistics said. That compares with 0.6% in the last three months of 2014 and 0.7% three months earlier. Growth of 0.5% in the services industry was offset by a 1.6% fall in the pace of economic output in construction. The ONS said the economy was 2.4% larger than the s...
Greek PM Tsipras sees EU deal by next week
Prime Minister Alexis Tsipras has said Greece is in the final, critical stretch of talks with its international creditors and that he believes an interim deal will by in place by 9 May. The objective was to find an agreement this week or next week at the latest, he said in a marathon TV interview. He defended Finance Minister Yanis Varoufakis, who was sidelined from Greece's negotiating team on Monday. But he admitted mistakes had been made in talks with EU partners. Since Greece's l...
Chinese stocks fall despite new stimulus measures
Chinese stocks fell despite government stimulus which cut reserve requirements for the second time this year. The People's Bank of China (PBoC) reduced the amount of money banks must set aside as reserves by one percentage point in a bid to spur more lending. The announcement on Sunday came in the wake of data showing the country grew at its slowest pace in six years. Hong Kong's Hang Seng fell 2.02% to 27,094.93, while the Shanghai Compositelost 1.64% to 4,217.08. Mark Williams, chi...
Britain’s foreign policy calculations
At the London Metal Exchange - owned by China since it was bought by the Hong Kong Stock Exchange three years ago - the shouts of traders haven't been replaced by the silent hum of trading computers. The other thing that hasn't changed is the importance of the financial sector to the British economy. Preserving the City's position has been a priority for the government - so China unsurprisingly looms large in British foreign policy. Looking back, the coalition government has repeatedly emp...
Greece would struggle to find creditors outside Europe, says Schaeuble
Greece would struggle to find creditors outside the EU and IMF, German finance minister Wolfgang Schaeuble has said. He said it would be welcome to try to find investment from Beijing or Moscow, but may have difficulties, he said. His warning came after fears of a Greek debt default saw its borrowing costs jump 3.5 percentage points to 27%. Greek Finance Minister Yanis Varoufakis said his government refuses to consider leaving the EU: "Toying with Grexit... is profoundly anti-European."...
China's growth slows to 7% in the first quarter
China's economic growth slowed further in the three months to March this year, expanding 7% compared to a year earlier, its slowest pace since the global financial crisis in 2009. The rate was lower than the 7.3% posted for the three months to December. Last year, China's economy, which is the world's second largest, grew at its slowest pace since 1990. It expanded by 7.4% in 2014, missing its annual growth target of 7.5% for the first time in 15 years. Despite the slowdown, the Chin...
Eurozone: Six days for Greece to offer new reforms
The eurozone has said only six working days are left for Greece to come up with a revised list of reforms to seal a deal on its next rescue bailout. Eurozone deputy finance ministers want an agreement on the €7.2bn loan in time for a Eurogroup meeting on 24 April. An EU official said: "If you take into account weekends and Orthodox Easter, there are only six days left." It comes as Greece said it had met Thursday's deadline to repay €460m to the International Monetary Fund. A Greek g...
French air traffic strike prompts hundreds of cancellations
Hundreds of flights have been cancelled ahead of a planned strike by French air traffic controllers. The SNCTA union - France's largest - has called the strike for Wednesday and Thursday in a dispute over working conditions. The DGAC civil aviation authority has asked airlines to cut their schedules for flights to and from France on Wednesday by 40%. Short-haul flights are expected to be worst affected. "Disruption is expected over the whole country," the DGAC said in a statement. ...
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