Panarmenian Bank opens in YerevanSeptember 7, 2011 - 14:29 AMT PanARMENIAN.Net - On September 7, Armenian President Serzh Sargsyan attended the opening ceremony of Panarmenian Bank. As the Board Director and bank CEO Vahram Nersisyants stated, the Bank’s activity will be aimed at attraction of foreign investments and further financing of competitive manufacturers in Armenia. “The main goal of Panarmenian Bank is promotion of economic growth through boosting export of products and services,” Nersisyants said. Panarmenian Bank won’t be competing with the country’s commercial banks, taking no deposits and offering no credits. However, the Bank plans cooperation with commercial banks, who may further offer financing packages to local enterprises. The activity the Bank will be regulated by the Central Bank of Armenia in accordance with relevant legislation, presidential press service reported. 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 | Ucom Celebrates Telecommunication Day May 17 commemorates the founding of the International Telecommunication Union on May 17, 1865. Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. |