Products, Companies & Markets

 

Chinese company is interested in investing in production of aluminum structures for furniture industry in Armenia
/Oct 22/Arminfo/Naira Badalian/

Acting Minister of Economic Development and Investment of Armenia Tigran Khachatryan received representatives of the Chinese ”Guoming” company. “Representatives of the company included in the” One Belt, One Road “program expressed interest in making investments in Armenia, in particular, in the production of aluminum structures for the furniture industry,” the ministry’s press service reported.

Tigran Khachatryan presented to entrepreneurs the structure of the Armenian economy, the investment and business environment, the tax field, the labor market and broad export opportunities. He assured Chinese businessmen that the Armenian government will support any investment initiative. “Representatives of the ” Guoming “company stated that the experts will study the investment opportunities of Armenia and take appropriate steps,” the ministry informs.


Yerevan included in world’s Top 10 Cities for Tech Career list by Enterprise Times
/Oct 25/168.am/

Enterprise Times, a British online platform covering business technology news, has included Yerevan, the Armenian capital, in its 10 Best Cities for Tech Career Opportunities list.

Yerevan is ranked 4th in the top 10 list, titled “Yerevan – Silicon Mountains”.

“Research shows that by 2025, the need for programmers in Armenia will have tripled to 30,000. This is largely due to the ever-increasing innovation in their tech sector. A sector that is growing at an annual rate of 20% and shows no signs of slowing down. If you haven’t considered a move to the country previously, it’s worth considering. Cost of living is very low; crime rates are low, and culture is in abundance. Currently the main speaking languages are Armenian & Russian, but the English language is becoming more and more popular”, Enterprise Times said in the article.

The top 10 cities for a tech career, according to Enterprise Times, are:

San Francisco, New York, Austin, Yerevan, Singapore, Melbourne, London, Stockholm,
Bangalore, Toronto.

“If you work in Tech, you’ll know it’s one of the fastest growing industries. Digital jobs are fast becoming a necessity for strong growth and the professionals that work within this field are becoming highly sought after. As these opportunities continue to grow – so do the cities that house them. To understand the cities, we’ve looked at the companies that are already home amongst their tech district, the opportunities for start ups and the growth and employment opportunities within them.

So, if you are looking to relocate, take a look at this list highlighting the 10 best cities offering tech career opportunities right now”, Enterprise Times said in the article.


Chaarat Gold in talks to buy Armenian mine from Russia’s Polymetal
/Oct 26/Financial Times, UK/Henry Sanderson/

Chaarat Gold, the Aim-listed gold explorer, is in talks to buy the Kapan gold mine in Armenia from Russia’s Polymetal, in its latest effort to expand through acquisitions.

The mine, which Polymetal acquired in 2016, produced 50,000 ounces of gold last year, making a profit of $20m before taxes.

Chaarat, which is based in Kyrgyzstan, has said it wants to build a “leading Central Asia” gold company through acquisitions, targeting 1m ounces of annual production. In May it made an $800m bid for the Kumtor gold mine in Kyrgyzstan from Centerra Gold, which was rejected by the company.

Chaarat is led by Artem Volynet, a former chief executive of Russia’s EN+ and who was appointed deputy chief executive of aluminium producer Rusal in June.

Polymetal said “there is no certainty that a transaction will be agreed.”

Chaarat said in a statement that “should agreement be reached; the company plans to sign the sale and purchase agreement as soon as practicable.”

Shares in Chaarat have risen by 6 per cent this year to 24.15p. The company is looking to raise $50m from a convertible bond sale.

The news was first reported by Bloomberg News.
 

Armenian woman appointed to high ranking post in Iran
/Oct 26/AMN Al-Masdar News, Iran/

An Armenian woman was appointed to a high-ranking post in Iran this week, the state-owned Islamic Republic News Agency (IRNA) reported on Friday morning.

According to the IRNA report, Talin Mansourian was appointed by the National Iranian Oil Company to head its Income and Investment Committee.

With Iran facing heavy sanctions from the West, particularly the United States, Mansourian will be at the forefront of the ongoing economic crisis plaguing this Persian Gulf nation.
 

Armenian’s firm among top 10 U.S. immigrant founded start-ups
/Oct 29/PanArmenian/

Moderna Therapeutics created by Armenian-American entrepreneur, venture capitalist Noubar Afeyan, is among the 10 most successful start-ups in the United States, founded by immigrants.

With a company value of $7 billion, Moderna Therapeutics is a biotechnology company that is focused on drug discovery and drug development.

A new study has found that 55% of the most successful new corporations in the United States were founded by modern-day American immigrants.

According to the study by The National Foundation for American Policy, 50 out of the 91 startups valued at over $1 billion in the U.S. had at least one founder who was an immigrant to the country.

The 50 companies included in the study are worth a combined $248 billion.

Afeyan was born to Armenian parents in Lebanon. At 13 he moved to Canada with his family, before later moving to the U.S. Afeyan earned his Ph.D. at 24 and went on to help found 38 companies including biotechnology company Moderna Therapeutics with Canadian immigrant Derrick Rossi.

After raising funding and grants for its work, including one early grant in 2013 from the Defense Advanced Research Projects Agency (DARPA) to develop mRNA drug technology to fight infectious diseases and biological weapons, the value of Moderna rose to $5 billion by 2017.

Besides Moderna Therapeutics, also among the U.S. billion-dollar companies with at least one immigrant founder with the highest valuations are Uber, SpaceX, WeWork, Palantir Technologies, Stripe, Slack and others.

Afeyan is also the co-founder of the Aurora Humanitarian Initiative and the Aurora Prize for Awakening Humanity, an annual international humanitarian award, which is initiated to recognize and express gratitude to those courageous individuals or organizations that impact on preserving human life and advancing humanitarian causes. It is awarded on behalf of the survivors of the Armenian Genocide and in gratitude to their saviors.

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