Third global development lab - this one in Armenia - will focus primarily on mobile technologies.

Fueled by high economic growth rates, the banking sector in Armenia is rapidly expanding, with several new, large-scale multi-million dollar foreign investments expected in the coming months.

The growth of Armenia's GDP in January-July of 2007 totaled 12,1%, as compared to the same period of 2006, making the country an attractive place for new investments. As the press service of the National Statistical Service of Armenia told Mediamax today, the GDP volume in January-July of 2007 totaled 1287363.0mln drams.

Cronimet Group - a German metals company that owns largest mining enterprise in Armenia on Thursday pledged to make at least $60 million in additional investments to expand its operations in the country.

In January-June of 2007 The GDP of Armenia grew by 11,2%.

Iran is to construct three wind-based power plants in Armenia.

Armenia could soon become a major financial center as banking is growing, internatioanl banks come to Armenia and the country may establish one of it's resorts cities Dilijan as country's financial center.

Foreign investments in the Armenian economy in the first quarter of 2007 rose 44.6 percent from a year ago to $136.6 million. This figure did not include money received by the government and the Central Bank from external sources.

Executive Director of the ACP Company (Armenian Copper Programme) Gagik Arzumanian stated that the exploitation of the Teghut copper-molybdenum deposit will make a serious contribution to the increase of economic might of the country and its competitiveness on the world copper-molybdenum market.

The growth of Armenia's GDP in January-April of 2007 totaled 11,1%, as compared to the same period of 2006.

From 20 countries of Emerging Europe, assigned Fitch ratings, only Armenia, Kazakhstan and Ukraine have positive outlook.

Fitch Ratings Agency upgraded the outlook on Armenia's foreign and local currency issuer default ratings to "Positive" from "Stable" and affirmed the ratings at "BB-" (BB minus).