Other News


Armenian government approves construction of $21.2 million engineering campus in Yerevan
/Nov 1/ARKA/

YEREVAN – The government of Armenia has approved today the construction of an engineering campus on the outskirts of Yerevan, worth $21.2 million.
"The goal of the project is to boost development of engineering and high technology in Armenia, promote  exports of high-tech products, stimulate economic competition and ensure productivity growth," the 
Acting Minister of Transport, Communications and Information Technology Hakob Arshakyan said.
According to him, an innovative ecosystem will be created in the campus, where engineering and high-tech companies will develop and apply innovative ideas with the help of modern infrastructure to offer innovative solutions for the high-tech market.
Arshakyan said the construction will begin in the first quarter  next year and end in 2020 December. He said this project is a good example of cooperation between private business and the government, since it will be co-financed by both.
Of the estimated construction cost of $21.2 million, $10.5 million will be allocated by the Armenian government from a World Bank loan and 50% by the National Instruments consortium. As part of the project 1.500 IT engineers will be trained, 2 thousand new jobs created, and at least 20 new companies set up.

Karen Khachanov defeats world No. 1 Novak Djokovic to win Paris Masters final
/Nov 5/Panorama/

Karen Khachanov, a Russian tennis player of Armenian descent, defeated incoming world number one Novak Djokovic to win his first Masters 1000 title at the Paris Masters.

The 22-year-old beat Djokovic 7-5 6-4 in one hour and 37 minutes to end the Serb's 22-match unbeaten run, BBC reports.

Fourteen-time Grand Slam champion Djokovic, 31, will still overtake Rafael Nadal at the top of the world rankings on Monday.

"It means the world to me," said world number 18 Khachanov.

"It's one of the biggest titles in my career so far. I couldn't be happier to end the season like this, to win against Novak Djokovic, the number one in the world."

Khachanov will rise to world number 11 on Monday and becomes the first Russian since Nikolay Davydenko in 2009 to win a master’s 1000 title.

He hit 31 winners as he pulled off one of the shocks of the tennis year in his final tournament of the season.

Djokovic, who has been suffering from flu-like symptoms all week, added: "I don't feel too good today, but I'd like to give respect to Karen for playing a great match today and he deserves to win.

"He deserves his trophy and I am sure we will see a lot of great matches from him in the future."

Armenian government refuses proposal to ban gambling
/Nov 5/European Gaming Industry News/By Niji Ng/      

The gambling ban saga in Armenia too new turn, as the government refused to evaluate the proposal. Atomjughazyan, Minister of Finance of the Republic of Armenia, agreed with the provisions of the proposal, but he categorically stated that such a ban would harm the economy. He also added that the measure would lead to corruption risks and new problems.

In short, the gambling business of Armenia will continue. The gambling industry of Armenia generates up to $ 22 million in taxes annually and creates over 2000 jobs.

In September, Armenian government has approved new amendments to the law on gambling, according to which the gambling business will be restricted to special zones of Tsakhkadzor, Sevan, Jermuk and Meghri. It was suggested that only local gambling operator will be allowed to advertise in Armenia.