Posts Tagged ‘EU’

Asian shares saw a dramatic increase following this weekend’s meetings in Europe, which resulted in “good progress.” According to European finance ministers, the Eurozone plans to boost its $610 billion rescue fund in an effort to draw investors and convince markets that it is indeed capable of protecting floundering countries such as Italy and Greece.

Few real details were released after the meetings, though. Investors have continued to focus on the yen, which has reached a record post-war high of 75.78 against the dollar. As a result, Japanese finance minister Jun Azumi has called for “decisive steps” to slow the currency’s dramatic rise, amid concerns that the yen will hinder the country’s export market.

Hong Kong and Shanghai both climbed this week as well, as improved manufacturing data was released from China, but Europe’s crisis does not seem to have slowed. Debates are still common as the Eurozone struggles to find a solution for the economic issue without further provoking its richer nations, such as Germany, who have placed their limit after repeatedly bailing out the region’s weaker members.

“The mood of trading is generally optimistic that Eurozone policy makers will announce significant measures on Wednesday to bolster the bailout fund and resolve Greece’s debt crisis, while also supporting the region’s banks,” explained Stan Shamu of IG Markets.

<h3>Persian New Year Celebrations Boost Armenian Tourism</h3>
There’s nothing more proactive than a big party to get things moving.  And that’s exactly what’s been happening to the economic situation in Armenia, spurred on by the Norvuz’ two-week Persian New Year celebration.  It is expected that the streets of Yerevan will attract tons of Iranian visitors who will be enjoying “a different culture,” nightlife and entertainment that they are not accustomed to in their home town.
It seems that if you are looking for a place to party, you should look no further than North Armenia.  At least, that is, if you are an Iranian who has been deprived of such fun for way too long.  Indeed, for the last three years, liberal-minded Iranians have visited the region for the mega Norvuz’ celebrations that are prohibited in their home country.  There they can enjoy alcoholic beverages and pop music concerts, which are outlawed in Iran.  It is expected that the 7,000 seat Hamalir arena will be packed to capacity, but for the festivities a staggering 10,000 visitors are anticipated.  According to Sabeh (an Iranian tourist), the reason for this peak in the country’s tourism during this time is simple:  “In Iran, they have restrictions on wearing clothes and we have no fun. I hope to have fun here.”
<h3>Armenian and European Relations Get a Boost</h3>
Currently Armenia’s government is putting in a program of reforms.  With this, according to Tigran Sargsyan (the country’s Prime Minister), major assistance will be given from the European Union as there is tremendous potential for the establishment of bilateral relations between Europe and Armenia.  In addition, the EU’s role will be strengthened with this as well as European values.  According to experts in the field, this is quite a historical precedent, being the first time ever that Armenia has invited the EU to replace Russia on such a level.  As well it seems that those in Armenia see them as priority issues “which is important for the development of business and investment spheres.”

So with all the Armenian celebrations set to take place and improved communications and negotiations with the European Union, this part of Asia looks like it has a good chance of developing its economy and investments in the very near future.  Things are looking up for Armenian culture and finances.

One-World-VenturesTutamen (HK) Ltd., the Chinese product development, consulting services and strategic management resource company has created the holding company, One World Ventures.

OWVI invests in a range of technologies and leverages its long experience in Asia to develop a company which crosses international boundaries. It bridges the gap between the US and China:
• 1WorldAuction is an online platform for the exchange of products and services. It enables individuals and businesses to avoid marketing costs.
• 1WorldCard offers a flexible debit card for global ATM and point of sale use. It is a inexpensive alternative to a bank account and is great for under-served markets.
• Vonsi Technology Inc. is a systems integrator. It supplies complete PBX, VOIP, IP and IP-based call center solutions.
• Inter Solar Tech, Ltd. markets renewable power generation products within the PRC and EU. It plans to expand to global operations and has successful experience in heat pipe, wind power and photovoltaic technologies.

1WorldAuction and 1WorldCard offer a unique, combined solution for e-commerce methods.