  HSBC Bank Armenia: trade financing increased by 40% in 2009 May 4, 2010 - 14:42 AMT PanARMENIAN.Net - Despite significant GDP decrease, as well as import and export slump observed in 2009, the volume of trade financing services offered by HSBC Bank Armenia grew by 40% in 2009. As HSBC Bank Armenia Head of Commercial Banking Aram Pinajyan told a news conference in Yerevan, “In 2010, the Bank will invest USD 400 thousand in trade financing technologies.” “Each final product consists of several intermediary ones manufactured in different countries. This is the reason why final product is being included in one country’s GDP, while its components are registered in that of another country,” Head of HSBC Trade and Supply Chain Europe, Stuart Nivison, said. CBA Vice Chairman Vache Gabrielyan, for his part, expressed hope for further accentuating of export financing in HSBC Bank Armenia activities.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news U.S. “very clear” with Azerbaijan: “It’s time to make peace with Armenia”  James O'Brien has said that the United States is “very clear” with Azerbaijani that it is a time to make peace with Armenia.Destruction of Armenian heritage raised at PACE Member of the Armenian delegation to PACE, MP from the “I Have the Honor” bloc Hayk Mamijanyan delivered remarks at a PACE session.PACE adopts resolution on Armenia's commitment to reforms PACE welcomed the electoral reforms implemented by Armenia in accordance with the recommendations of the Venice Commission.Azerbaijan yet to respond to Armenia’s proposal to probe ceasefire violations Azerbaijan has not yet responded to Armenia’s proposal to create a mechanism for investigating ceasefire violations, Armen Grigoryan has said. |
