HSBC Bank Armenia to finance small and medium-sized businesses in 2009March 7, 2009 - 20:48 AMT PanARMENIAN.Net - "HSBC Bank Armenia credit investments rate rose by 40%, which is a good result," Tim Slater, Chief Executive Officer of HSBC Bank Armenia told a news conference on Saturday.In the last 6 months a decrease in crediting line is registered, related to financial instability in Armenia and all over the world. "We'll keep financing our clients in 2009.Special emphasis will be put on small and medium-sized businesses, which would promote the further strengthening of Armenian economy." According to Tim Slayter, the recent decrease in crediting rate has been the result of dollar exchange rate upsurge, inducing HSBC clients to reinvest their AMD deposits in dollars. "The end of year will bring the opposite tendency, as the majority of banks, including HSBC Armenia offer a higher interest rate for AMD deposits." 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |