OIL:  BRENT - 72.16-0.92% WTI - 66.63-1.16%
COMEX:  GOLD - 1191.13+0.25% SILVER - 14.99-0.07%
COMEX:  PLATINUM - 803.00 +0.00%
LME:  ALUMINIUM - 2077.00+0.78% COPPER - 6110.00-0.84%
LME:  NICKEL - 13775.00+0.40% TIN - 19385.00-0.72%
LME:  LEAD - 2084.00-1.37% ZINC - 2509.00-1.41%
FOREX:  USD/JPY - 111.2140+0.41% EUR/GBP - 0.8919-0.17%
FOREX:  EUR/USD - 1.1346-0.53% GBP/USD - 1.2722-0.32%
STOCKS RUS:  MICEX - % RTSI - 1081.50 +2.05%
STOCKS US: DOW JONES - 25299.92+0.45% NASDAQ - 7870.89+0.65%
STOCKS US: S&P 500 - 2839.96 +0.64%
STOCKS JAPAN:  NIKKEI - 22204.22 -0.68% TOPIX - 1698.03 -0.76%
STOCKS CHINA:  HANG SENG - 27323.59 -1.55% SSEC - 2723.64 -2.07%
STOCKS EUR:  FTSE100 - 7611.64-0.40% CAC40 - 5403.41-0.16%
STOCKS EUR:  DAX - 12358.87+0.00%
15/08/2018  CBA:  USD - 483.02 AMD -0.01 GBP - 614.45 AMD -2.86
15/08/2018  CBA:  EURO - 546.97 AMD -3.88
15/08/2018  CBA:  GOLD - 18588.75 AMD -52.41 SILVER - 233.49 AMD -2.33
15/08/2018  CBA:  PLATINUM - 12516.74 AMD -124.50
17/05/2016  NASDAQ OMX ARMENIA:   USD/AVG - 477.75 AMD -2.70
August, 2018
1
2
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
IT is promising in Armenia, the entrepreneurial culture needs a boost. Eva Maria Näher
06/07/2018 10:18

IT is promising in Armenia, the entrepreneurial culture needs a boost. Eva Maria Näher

On June 29, the finale of the Innovative Matching Grant Competition (IMG) was held in Vanadzor Technological Center. 14 teams came to the final round.

The funding of this project is coming from the EU under the EU4Business initiative.

In the interview on «Business 24» the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), support to SME Development in Armenia (EU-SMEDA) team leader Eva Maria Näher told about the specifics of the program.

-When and why it was decided to start this program?

- The project has started in the beginning of 2016 and will run till 2019 as support to private sector development. The idea is to strengthen the private sector in Armenia in general. And we have different components that we are working on. But the basic idea is really to improve the private sector in Armenia, because there is room for improvement. Because it is an important pillar for society and economy. That’s why it was decided to have this sector as one of the priority area for EU in Armenia.

- Why is it so important for the EU to improve the private sector in Armenia?

- The Private sector in general is still rather weak in Armenia. For example, we took some groups for different activities to Europe and learnt from European business partners that, yes, the technology is very well developed, very good, is promising in Armenia. But the entrepreneurial culture and skills are rather weak. There are still a lot to do; the weak points are in particular marketing, prizing strategy, finding the right business model, international networks and so on. We found good education in technology and engineering, where good ideas and products are coming from. Hence, we saw also that money is not the only bottleneck for business -e.g. through the grants we are providing. In particular business advice and mentorship are crucial to guide the companies. Yes, it is important to have a good product and idea, but it is also crucial knowing how to sell it to the customer. This point is must be considered and further developed.

- If we talk about last year's results, there were winning teams who, thanks to this program, have improved their product from business point of view?

- Yes, many teams are already showing interesting results. In particular on team was recently granted by the EU Research and Innovation programme «Horizon 2020». It is an engineering company «Grovf» which was last year participant and one of the winners from the 1-st cycle. This recognition shows, that they are competitive at an international scale and that they have a great business case.

-And how EU monitors the results of winners?

-Every three month the grantees have to present financial and technical reports about their progress, how they have achieved their goals and if they spent money correctly.

Ucom - broadband connection starting at AMD 6,000
News Feed
AMD Rates
10:00 15/08 Buy Sell
AMD / USD 482.50 484.25
AMD / EUR 545.00 550.00
AMD / RUR 7.21 7.33
dollars
dollars
CBA Rates
15/08/2018
USD / AMD
483.02
-0.01
EUR / AMD
546.97
-3.88
RUR / AMD
7.23
+0.00
GBP / AMD
614.45
-2.86
Cryptocurrencies
10:50 15/08
BTC/AMD
3,061,772
+5.61%
BTC/USD
6338.67795578
+5.52%
ETH/USD
282.779543308
+6.38%
BCH/USD
518.353754512
+5.63%
XRP/USD
0.2843455961
+10.07%
LTC/USD
55.3615980693
+7.24%
Capitalization
BTC
109,091,183,090
+5.53%
ETH
28,655,365,014
+6.40%
BCH
8,964,215,448
+5.64%
XRP
11,195,368,396
+10.07%
LTC
3,202,750,578
+7.27%
CBA Metals
15/08/2018
dram / gram
Gold
18588.75
-52.41
Silver
233.49
-2.33
Platinum
12516.74
-124.50
FOREX
10:00 15/08
EUR/USD
1.1346
-0.53%
GBP/USD
1.2722
-0.32%
USD/JPY
111.2140
+0.41%
EUR/GBP
0.8919
-0.17%
Oil
10:00 15/08
$ / barrel
Brent
72.16
-0.92%
Light Sweet
66.63
-1.16%
COMEX
10:00 15/08
$ / tr. oz
Gold
1191.13
+0.25%
Silver
14.99
-0.07%
Platinum
803.00
+0.00%
LME / 3M
10:00 15/08
$ / tonne
Aluminium
2077.00
+0.78%
Copper
6110.00
-0.84%
Nickel
13775.00
+0.40%
Tin
19385.00
-0.72%
Lead
2084.00
-1.37%
Zinc
2509.00
-1.41%
Molybdenum
26000.00
+0.00%
Cobalt
64500.00
+0.00%
Indexes
10:00 15/08
point
Dow Jones
25299.92
+0.45%
S&P 500
2839.96
+0.64%
NASDAQ
7870.89
+0.65%
FTSE
7611.64
-0.40%
CAC 40
5403.41
-0.16%
DAX
12358.87
+0.00%
RTSI
1081.50
+2.05%
Nikkei
22204.22
-0.68%
Topix
1698.03
-0.76%
Hang Seng
27323.59
-1.55%
SSEC
2723.64
-2.07%
CBA Interest Rates
15/08/2018
Refinancing
Refinancing Rate
6.00
+0.00
Lombard Repo
Lombard Repo Rate
7.50
+0.00
Deposit
Deposit Rate
4.50
+0.00
Macroeconomy
06/2018
CEA
Coefficient of Economic Activity
+8.90%
Ind. Prod. 3
Volume of Industrial Production
805.026
+3.70%
Export 1
Экспорт
1,165.2
+20.0%
Import 1
Импорт
2,310.9
+33.90%
CPI
Consumer price index
+2.40%
Avg. Salary 2
Average salary
168,367
+4.40%
Services 3
Volume of services
777.771
+18.10%
Construction 3
Volume of construction
127.791
+13.50%
1 - mln AMD, 2 - AMD, 3 - bln AMD