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 | 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. |