Yerevan, 19.April.2019,
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Economy

Armenian PM conducts meeting at Kuwaiti Chamber of Commerce and Industry
Armenia’s Prime Minister Hovik Abrahamyan, who is on an official visit to Kuwait, had a meeting with a delegation led by Mr Abdul Wahab Al Wazzan, Second Vice-Chairman of the Chamber of Commerce and Industry of Kuwait. The sides stressed the importance of deepening cooperation between the Armenian and Kuwaiti Chambers of Commerce and Industry, which will give new impetus to the development of business ties and investment projects. The sides pointed out promising cooperation in industry, ag...
First tranche of IMF loan to Ukraine to amount to $5 billion
The first tranche of an International Monetary Fund (IMF) loan to Ukraine will amount to $5 billion, Ukraine’s finance ministry said on its website on Wednesday. "An extended cooperation program makes it possible for Ukraine to immediately receive the first tranche of $5 billion," the ministry said. According to the ministry, the IMF Executive Board has approved a four-year program of extended financing worth $17.5 billion, which was coordinated with the Ukrainian government. "Out of th...
Euro sinks to 12-year lows as yield gap grows
The euro dived to its lowest since early 2003 against the dollar on Wednesday, dragging other European currencies with it on the back of the huge differences developing in market interest rates between Europe and the United States. In a dollar rally that began last July the single currency has lost around a quarter of its value, and there is little sign of that bottoming out. Deutsche Bank on Tuesday forecast a fall to 85 U.S. cents by the end of 2017. That comes largely courtesy of the co...
Russia, Ukraine, EU may hold trilateral gas meeting on March 20 — source
The European Commission has proposed Russia, Ukraine and the EU to hold a trilateral ministerial gas meeting on March 20, a diplomatic source in Brussels told TASS Wednesday. "The European Commission has sent invitations to Energy Ministers of Russia and Ukraine Alexander Novak and Volodymyr Demchishin to hold talks in Brussels on March 20 on prices and terms of gas supplies to Ukraine and gas transit to the EU in spring-summer period (from April 1)", the source said.
EU nears deal on $338 billion plan to tackle drop in investment
EU finance ministers agreed the details of a 315 billion euro ($338 billion) investment plan on Tuesday to help revive the European economy without piling up more debt, and now aim to get the first projects going by the end of the year. EU lawmakers must now approve the fund. "The plan is the answer we need to confront the main handicap of the European economy: the lack of investment," said Pierre Moscovici, the EU economics commissioner, adding that investment had fallen by 15 to 20 perce...
New Zealand reveals milk formula 1080 poison threat
New Zealand authorities say a national farming body and dairy giant Fonterra have been sent letters threatening to poison milk formula. Federated Farmers and Fonterra received the anonymous letters in November, said officials, along with sachets of contaminated product. The letters appeared to be a protest over the use of the pesticide 1080 in agriculture. PM John Key said milk formula was still safe to be consumed. Officials said the person or group who sent the letters had threatened...
Spain suffers big economic losses due to Russia sanctions — foreign minister
Sanctions against Russia have caused a serious damage to Spain's economy, the Spanish foreign minister Jose Manuel Garcia-Margallo said on Tuesday. "We have big losses, especially in the agricultural sector," he said. According to Russian Foreign Minister Sergey Lavrov, trade between Russia and Spain declined considerably over the Ukraine developments and the European Union’s stance. The Russian-Spanish relationships are "living through an uneasy period" in the context of the Ukraine de...
Brent slips toward $58 on firm dollar; China data checks losses
Brent crude fell towards $58 a barrel on Tuesday as the dollar scaled multi-year highs, but data showing a recovery in China's annual consumer inflation checked losses. The greenback hit an eight-year high versus the yen and scaled a near 12-year peak against the euro, dragging on commodities priced in the dollar by making them expensive for holders of other currencies. Brent LCOc1 fell 52 cents to $58.01 by 0817 GMT (4:17 a.m. EDT) , while U.S. crude CLc1 dropped 34 cents to $49.66. Bo...
China's core inflation rises 1.4% in February
China's core inflation rate rose 1.4% in February from a year earlier, recovering from a more than five-year low and exceeding most expectations. The consumer price inflation (CPI) data compares with a rise of 0.8% in January, which was the weakest reading since November 2009. China's new consumer inflation target is about 3%, down from 3.5% in 2014. The rise in inflation for the period was attributed by officials to China's Lunar New Year celebrations. The official number could ease s...
China trade surplus hits new record as exports grow
China's monthly trade surplus hit a record $60.6bn (£40.3bn) in February, as exports grew and imports slid back. Exports were up 48.3% year on year to $169.2bn, and imports dropped by a fifth to $108.6bn, said the country's General Administration of Customs. The growth in exports was well ahead of analyst expectations. China's economy grew by 7.4% in 2014, its weakest for almost a quarter of a century, and recent indicators show signs the slowdown is continuing.  
Greece crisis: Varoufakis says bailout referendum is possible
Finance Minister Yanis Varoufakis has said it is possible that a referendum could be held if the eurozone rejects Greece's debt renegotiation plans. The comments came ahead of Monday's Eurogroup meeting in Brussels, where Greece is to give detailed plans of its debt and growth terms. Greek Prime Minister Alexis Tsipras reacted by urging Mr Varoufakis to use "fewer words and more action". And the finance ministry clarified that eurozone membership was not in doubt. In an Italian newspap...
Brent drops toward $59 as dollar firms on U.S. jobs data
Brent crude fell toward $59 a barrel on Monday as a promising U.S. jobs report pushed the dollar up, offsetting geopolitical tensions and the threat of output cuts in Libyaand Iraq. The dollar hit a more than 11-year high against a basket of currencies after data showed the U.S. unemployment rate fell to the lowest since May 2008 in February, making commoditiespriced in the greenback costlier for holders of other currencies Brent LCOc1 eased 43 cents to $59.30 by 0445 GMT, after dropping 7...
All US banks pass first phase of 'stress test'
All 31 US banks have passed the first hurdle in the Federal Reserve's latest round of annual "stress tests" to see how they would cope in the next economic crisis. The central bank said the banks had enough capital to keep lending during a severe global recession. This was the first time since the tests began in 2009 that all banks had a capital level above the minimum amount. But some Wall Street giants were among the worst performers. Goldman Sachs, Morgan Stanley and JP Morgan Chase...
Euro hits 11-year low before ECB, stocks edge higher
The euro hit an 11-year low against the dollar and the region's stocks nudged higher on Thursday, as the European Central Bank prepared to provide the finer details of its soon-to-be-launched 1 trillion euro stimulus plan. The common currency fell to as low as $1.1026, its lowest level since September 2003 and the region's stock .FTEU3 and periphery bond markets [GVD/EUR] opened up as hopes for the ECB's policy meeting in Cyprus lifted investors' spirits. The slide in the euro came as the ...
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