HSBC dismisses reports alleging end of operation in ArmeniaJanuary 30, 2020 - 13:32 AMT PanARMENIAN.Net - Media reports alleging that HSBC is seeking to sell or shrink its business in Armenia are speculations, Diana Gaziyan, the Communications Manager at the bank’s Armenia chapter, told PanARMENIAN.Net on Thursday, January 30. Reuters cited sources familiar with the matter as saying that HSBC is considering selling its Turkey business amid concerns about the country’s volatile currency and economic outlook. As part of broader cost-cutting measures under interim Chief Executive Noel Quinn, the bank is also seeking to sell or shrink its business in some other markets, including Armenia, the sources reportedly said. “It’s a speculation, we can neither comment on or react to it,” Gazinyan said about the report. The Central Bank of Armenia, meanwhile, issued a separate statement, describing HSBC’s activity in the country as a success story and revealing that the Bank has recently applied to the Central Bank for registering a new Director from March. 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 | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |