HSBC Bank Armenia: trade financing increased by 40% in 2009May 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 | Freedom House: “Why are there no Armenians in Nagorno Karabakh?” Freedom House has published a report summary titled “Why are there no Armenians in Nagorno Karabakh?” Armenia says wants expanded transport, energy connectivity Pashinyan says Armenia is interested in the expansion of connectivity in transport, energy, telecommunications and other directions. Aliyev: Change in Armenia’s Constitution key for singing peace deal Ilham Aliyev has declared that most important condition for signing a peace agreement is for Armenia to change its Constitution. U.S. sees “extraordinary” opportunity for peace between Armenia, Azerbaijan U.S. Secretary of State Antony Blinken believes there is an “extraordinary” opportunity to reach a peace agreement between Armenia and Azerbaijan. |