Financial crisis has already affected 90% of Armenian companiesMay 6, 2009 - 21:41 AMT PanARMENIAN.Net - A poll, involving 60 small and major companies in Yerevan and RA regions, showed that the crisis has affected 90% of them, Economy and Values Research Center stated.According to Economy and Values Research Center Chairman Manuk Hergnyan, 70% of organizations' main issues are caused by reduced sales volumes, untimely payments and even non-fulfillment of payments. "35-40% of companies had difficulties in attracting financial means, " he said, adding that majority of companies plan to cut administration expenditures and delay planned investments. 40% of organizations polled plan job cuts, and 20% - salary reductions, especially in industrial spheres. On the other hand, the crisis has had a positive influence on a number of Armenian companies, as far as competitors' weakened positions, raw material and equipment price reductions are concerned. "Around 80% of entrepreneurs polled believe that the crisis will exacerbate in 2009," Hergnyan 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 | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |