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The Armenian Report Search Results

188 items found for "student advice corner"

  • Security Alert: US Embassy Advises Caution in Specific Armenian Regions

    Syunik Region (South of Kapan): The southern area of the Syunik region is included in the advisory, advising

  • Freedom Holding Corp Founder Timur Turlov Advocates for Armenia’s Financial Growth

    Formation of favorable investment climate and financial market infrastructure in Armenia were discussed at the first investment and financial forum, “Armenian Capital Markets: Future Outlook.” The event organized by Freedom Broker Armenia in cooperation with the Ministry of Economy brought together representatives from all branches of the financial sector. In his opening remarks Timur Turlov, the founder and head of Freedom Holding Corp, emphasized the significance of developing the capital market in Armenia. He believes that developing the capital market can bring vast opportunities to the country, such as introducing new technologies, attracting investors and building closer integration with the European Union, the United States, Central Asian countries, and the rest of the world. And the issue of trust in the financial system is critical here. “The population’s welfare increases with a higher level of trust in the financial system. Tax collection improves with more public companies, and the economy becomes more active with more private investors. As a large enough investor, we are interested in discussing the current opportunities for capital markets and how we can actively pursue them. Freedom Holding Corp. already has a capital of over a billion dollars. We have many talented employees in Armenia who will be happy to contribute to developing culture, financial literacy, and technology to achieve a more sustainable system and make long-term investments in our development,” said Timur Turlov. The forum’s centerpiece was the plenary session devoted to Armenia’s investment climate and the prospects of capital market development. Deputy Minister of Economy Narek Teryan said the sphere is still underdeveloped in the country. Companies attract money by classical methods, such as loans from banks or through partners. He said that the government and the state must create incentives and conditions for developing capital markets to remedy the situation. Building investor confidence is also important. This is one of the critical factors for attracting financing. “Trust will help increase market transparency, make information about products, terms, and issuers available, and build long-term customer relationships. As a government, we plan to introduce such tools as providing possible guarantees from the state and development institutions, support programs for entering the market of shares or companies that operate in industries and projects promising for the country. We are already implementing some of this. But for balanced development, it is important to ensure that such measures are cross-cutting. We must develop the capital market and gradually shift the focus away from classical fundraising. On top of that, we need to educate the public to explain why it’s safe. But we are only at the beginning of our journey,” Narek Teryan noted. Samvel Khanvelyan, Head of the Public Debt Management Department of the Ministry of Finance, stressed that historically, government bonds have been the locomotive in the capital market. The international bank’s assessment results show that Armenia’s domestic debt market is more developed regarding infrastructure, but there is still room for growth in the secondary market. “But we see a positive trend. While banks were the main recipients of bonds in 2020, this figure has now fallen by 26%, meaning that the participation of other participants has increased. The retail system in Armenia was introduced in 1997 but has been developing since 2017, when we introduced an online platform. It’s certainly a bit inferior to the regular government bond system in terms of volume, but even here, we’re noticing an increase in participation. Starting in March, we will use an improved online trading system. This will enable both residents and non-residents to purchase national securities,” he said. According to Garegin Gevorgyan, Director of the Financial System Stability Directorate at the Central Bank of Armenia, banks have historically dominated the country’s financial system. They will remain so in the near future. “Naturally, changes are necessary for the active development of the capital market. However, we currently present it as a pyramid with trade and open markets as its pyramids. We need to start from the foundation to build a strong institutional system—much to be done in this regard, such as forming a market for the Armenian Dram. The Armenian economy lacks the necessary tools to determine its short-term price, which we consider the main issue. All future actions to develop the capital markets will be based on addressing this problem,” Garegin Gevorgyan said. Hayk Yeganyan, CEO of AMX and chairman of the Management Board, took the floor next. He is confident that for a long time, the market didn’t develop much because it simply lacked the tools, the full chain. At the same time, the republic already has a generally good legislative framework, infrastructure, and a stock exchange with a new collateral program that gives access to final investors through the platform. “We have a large base of potential investors. This is $10 billion, mainly stored in deposits or square meters. There is a liquid base for investments and good potential issuers. There are already many of them, including those that have received credit ratings. But there are no investment bankers or miners. There is not enough of a secondary market due to the lack of broker-dealers. If you fill this void, the one who takes up this case first will get a good head start and a business case. According to our calculations, it is possible to underwrite from $500 million to $1 billion annually,” the speaker shared. Hayk Yeganyan is sure that, at the same time, it is vital to educate the population. For example, he mentioned the work done by Freedom Holding Corp in Kazakhstan, where people started investing in bonds, foreign assets, and the corporate sector. Timur Turlov continued the topic. He confirmed that if retail investors understand that they can save on taxes and get a higher return on their savings, they come to the market. They do it especially actively when these products appear in the banking app, and buying securities becomes as simple as opening a bank deposit. “If we want to see hundreds of thousands of people, hundreds of thousands of residents of Armenia buying securities, we need to do it as simply as banks do. Moreover, full-fledged investment banks should appear to provide people with these banking operations. Attracting retail is not so difficult when you have such players and digital platforms. Companies enter this market when they realize that they can effectively raise capital. And the state benefits from this in the form of taxes and economic growth,” he concluded.

  • Armenia's Ruling Party Advocates for Release of U.S. Tech CEO Amid Corruption Charges

    Lawmakers from Armenia's ruling party, Civil Contract, have taken a stand to appeal for the release of the founder and two associates of a major Armenian software company. Ashot Hovanesian, founder of Synergy International Systems, along with senior executive Lili Mkrian and former colleague Ani Gevorgian, were arrested last week on corruption charges related to an alleged fraudulent procurement tender organized by the Armenian Ministry of Economy. The tender, which took place last summer, was won by Synergy but was subsequently invalidated by an Armenian court. Investigators claim that the Ministry of Economy unlawfully disqualified another IT firm with a lower bid. Last week, four ministry officials were detained, but unlike Hovanesian, Mkrian, and Gevorgian, they were either released or placed under house arrest in the following days. Synergy International Systems, a U.S.-registered company, vehemently rejected the accusations against the detained individuals, demanding their immediate release. The Armenian Union of Advanced Technology Enterprises (UATE) also condemned Hovanesian's arrest, expressing concern about the impact of "unfounded" detentions on Armenia's reputation for local and foreign tech entrepreneurs. Hayk Konjorian, leader of the Civil Contract's party parliamentary group, announced on Tuesday that lawmakers decided to petition the court for the release of the Synergy executives pending investigation. He emphasized that the decision was not influenced by Prime Minister Nikol Pashinyan and reflected public reactions to the arrests. Konjorian clarified that the decision also took into account the family circumstances of Gevorgian and Mkrian, both having young children. The arrest of Gevorgian, who is the sister-in-law of parliament speaker Alen Simonyan, has sparked speculation about potential political motives. Some commentators suggest that Pashinyan may have sanctioned the arrest to address falling approval ratings by demonstrating a strong stance against corruption. However, Pashinyan's allies have dismissed those claims.

  • Rep. Adam Schiff Advocates Sanctions Against Azerbaijan for Unlawful Detention of Armenian Prisoners

    Representative Adam Schiff (D-CA) has introduced a resolution, urging the Biden Administration to impose sanctions on Azerbaijan for the illegal detention of Armenian prisoners of war, captured civilians, and political prisoners, including officials from Artsakh (Nagorno-Karabakh). The resolution comes in response to Azerbaijan's actions during its recent ethnic cleansing operations. The resolution, championed by Rep. Schiff, specifically calls for sanctions under the Global Magnitsky Human Rights Accountability Act against Azerbaijani government officials held responsible for the reported illegal detention, torture, and extrajudicial killing of Armenian prisoners of war. Additionally, it reinforces Congressional calls for the enforcement of Section 907 restrictions on U.S. military and security assistance to Azerbaijan. "Azerbaijan is already guilty of grave atrocities committed during the recent war, and the continued illegal detention of Armenians compounds the problem. Azerbaijan’s treatment of these prisoners, including torture and killings, is heartbreaking and a direct threat to international law and order," expressed Rep. Schiff. "My resolution urges the American government and international community to stand up to these gross human rights violations being perpetuated against the Armenian community by the Aliyev regime and return these prisoners back to their families." The resolution strongly condemns Azerbaijan's unlawful detention of Artsakh civilian and military officials, who are being held as political prisoners. This includes former Artsakh presidents Arkadi Ghukasyan, Bako Sahakyan, and Arayik Harutyunyan, former Artsakh Foreign Minister David Babayan, Speaker of Artsakh’s Parliament Davit Ishkhanyan, former Artsakh State Minister Ruben Vardanyan, and former Artsakh military commanders Levon Mnatsakanyan and David Manukyan. Rep. Schiff's resolution builds upon similar legislation he and the Congressional Armenian Caucus led in 2021 (H.Res.240), which received broad bipartisan support. The current resolution's call for U.S. sanctions on Azerbaijani leaders and the enforcement of Section 907 restrictions on U.S. aid to Azerbaijan aligns with bipartisan legislation (H.Res.108 / H.R.5683) and multiple Congressional letters to the Biden Administration, enjoying support from over 100 Congressional leaders. The resolution underscores the ongoing bipartisan efforts to address human rights violations and uphold justice in the wake of the conflict between Armenia and Azerbaijan.

  • Armenia's New Economy Minister Advocates for Foreign Trade Diversification, Steering Away from Heavy Reliance on Russia

    Armenia's newly appointed Economy Minister, Gevorg Papoyan, has called for a strategic shift towards diversifying the country's foreign trade partnerships. Papoyan emphasized the need to reduce Armenia's heavy reliance on Russia and cultivate stronger commercial ties with countries across the globe. Speaking to reporters after attending his first cabinet meeting in his new role, Papoyan outlined his vision for economic diversification, describing it as a process that would make Armenia proportionally dependent on the world, while also making other countries reliant on Armenia. While the minister did not provide specific details on how and when this diversification would take place, he pointed to Egypt as a potential new market for Armenian goods. Prime Minister Nikol Pashinyan's recent visit to Cairo included participation in an Armenian-Egyptian business forum, signaling Armenia's interest in expanding trade relations with Egypt. Despite the current negligible volume of trade between Armenia and Egypt, the Armenian government is exploring avenues to tap into new markets. Armenia's trade dynamics have long been dominated by Russia, accounting for over 35% of its $20.7 billion foreign trade and more than 40% of its $8.4 billion exports last year. However, the strained relations between Russia and Armenia, coupled with Yerevan's pivot towards the West, raise concerns about the continuity of local manufacturers' access to the substantial Russian market. The deteriorating Russian-Armenian relations have prompted some Armenian cargo firms to express concerns about potential disruptions in shipping goods to and from Russia. Reports suggest that Russian customs officials have warned these firms about the impending cessation of processing their trucks. Despite Papoyan's optimism about diversification, skeptics believe that Armenia's immediate focus should remain on the Russian market. Concerns also arise regarding the potential closure of Russia's sole border crossing with Georgia for Armenian cargos. Papoyan expressed no knowledge of such developments and saw no objective reasons for Russia to block imports from Armenia. Nevertheless, past closures, such as the one in November citing food safety concerns, serve as warnings to Yerevan and show the need for strategic economic planning in the face of evolving geopolitical dynamics.

  • Armenian Prodigies Win 17 Medals at International Zhautykov Olympiad

    Armenian students showcased their exceptional talents in mathematics, physics, and informatics, clinching The Armenian delegation, consisting of 15 students from the PhysMath School, 13 students from Quantum One student from the Photon school also earned a bronze medal. Andreasyan, a 12th-grade student of Quantum College, both winning gold medals. Over the years, the Zhautykov Olympiad has grown in prominence, attracting participants from every corner

  • Empowering Change: How Sose Hovannisian Brought Armenian Language to Penn

    This is a story of determination and advocacy, Sose Hovannisian, an Armenian-American student from Los As an incoming first-year student, Sose was dismayed to discover that Armenian, one of the world's oldest , including a graduate student specializing in Armenian linguistics, Sose successfully garnered support The efforts paid off last month when George Balabanian, a Canadian-Armenian Ph.D. student in linguistics Reflecting on her accomplishment, she encourages fellow students: "If Penn opened its ears to my mother

  • Dilijan International School of Armenia Accredited as a Cambridge International School

    been awarded accreditation as a Cambridge International school for primary, middle and high school students school delivering the IB Diploma Programme for the last two years of high school to the body of 220 students Quoting Cambridge, “Cambridge schools are part of a global community working to prepare students for empowered our staff and validates our commitment to provide high-caliber education for our diverse student Next year we will have several students going into grade 10, thus completing the full spectrum of education

  • Armenian Educational Foundation Raises Over $500,000 at Fundraiser in Los Angeles

    community, philanthropists, and supporters dedicated to advancing educational opportunities for Armenian students The evening was marked by heartfelt speeches, inspiring stories of students who have benefited from AEF towards scholarships, educational grants, and resources to support the academic aspirations of Armenian students Your support ensures that we can continue our mission to empower students through education.

  • TUMO Labs Initiative Climate Net Installing New Climate Data Devices Across Armenia

    The IoT climate devices are created and deployed by TUMO Labs students who receive educational training In the future, students at TUMO Labs can use this data to create different kinds of weather maps. TUMO Labs, a tuition-free education program that connects higher education with industry and enables students TUMO Labs hosts projects from international and national companies, allowing students to work and develop

  • Armenian Teen Breaks World Record Performing 44 Pull Ups Between Moving Trucks

    town's modest population of around 8,000, is a breeding ground for world record holders, with several students Sahradyan's exceptional coaching has led to the remarkable achievements of several students, each setting From pull ups to hula hoop rotations and static holds, these students are trailblazers in the world of With over two dozen students passionately pursuing new records, the horizon looks promising for these

  • Turkey Bans Western Holidays (Halloween, Christmas, Easter) in Private Schools to Uphold National Values

    Gazette, highlight a shift in focus towards activities that align with the psychosocial development of students These centers are designed to foster students' social, cultural, artistic, and sports development alongside

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