Rocket Line - now for 60 months: Idram and IDBank

 Friday, May 17 2024 18:45:05
Rocket Line - now for 60 months: Idram and IDBank

ArmInfo.What if we tell you that Rocket Line is now for longer period than you expected? Yes, we do everything possible so that you have the most comfortable conditions for your daily payments.

CBA continues to raise refinancing rate - setting it at 10.5%, and repeating historical maximum of 2015
 Tuesday, November 1 2022 14:12

ArmInfo. At the November 1,  2022 meeting, the Board of the Central Bank of Armenia (CBA) decided  to raise the refinancing rate by 0.5 percentage points, setting it to  10.5% , the press service of the Central Bank of Armenia told  ArmInfo,

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Armenian dram must be depreciated at any cost for economic collapse  to be prevented - Vahram Mirakyan
 Tuesday, November 1 2022 11:54

ArmInfo. Armenia is showing the initial signs of Dutch disease, says Vahram Mirakyan, Chairman of the Mantashyants entrepreneurs union.

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CBA Head: 90% of profits of banking system of Armenia is formed from  related services, the main consumers of which are non-residents
 Monday, October 31 2022 17:30

ArmInfo. 90% of the profit in the banking system of Armenia is formed from income from related services, 90% of consumers of which are non-residents, rather than  from the difference in expenses on loans and deposits. This was  stated by Chairman of the Central Bank of the Republic of Armenia  Martin Galstyan at parliamentary hearings during the presentation of  the draft state budget of Armenia for 2023.

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High probability of materialization of systemic risks prompted CBA to  shift counter-cyclical capital buffer from 0% to 1%
 Friday, October 28 2022 21:57

ArmInfo. Keeping the counter-cyclical capital buffer (CBC) at 0% for more than two years, the Central Bank of Armenia, nevertheless considered it expedient to  increase it to 1% of risk-weighted assets. This rule will come into  force on May 1, 2023.

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Ameriabank launches new service: Online business registration
 Thursday, October 27 2022 19:12

ArmInfo.As part of the development of the digital transformation strategy, Ameriabank  continues to create a reliable financial and technological  environment.  This time, the Bank supplemented its Ameria Business  platform, which was launched in 2018, with a new service that allows  you to register an online business - to open an IE (Individual  Entrepreneur), without visiting a bank branch.

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High probability of materialization of systemic risks prompted CBA to  shift counter-cyclical capital buffer from 0% to 1%
 Thursday, October 27 2022 17:04

ArmInfo.Keeping the counter-cyclical capital buffer (CBC) at 0% for more than two years, the Central Bank of Armenia, nevertheless considered it expedient to  increase it to 1% of risk-weighted assets. This rule will come into  force on May 1, 2023.

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Converse Bank redeemed two tranches of USD and AMD bonds in amount of  USD 5 million and AMD 1 billion
 Wednesday, October 26 2022 17:36

ArmInfo.Converse Bank redeemed 2 tranches of USD (AMCOVSB2BER5) and AMD (AMCOVSB2AER7) bonds in the amount of USD 5 million and AMD 1 billion, making coupon payments for a total of AMD 100 million. This is noted in the message of the Bank.

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YSU biologists have obtained organic fertilizer from coffee waste  
 Wednesday, October 26 2022 16:11

ArmInfo.A group of  5 biologists from Yerevan State University have founded MiCoFe Startup and started recycling various types of organic waste. Using coffee waste, young biologists have created organic fertilizer stimulating crop growth.

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Ardshinbank is the only company from Armenia with assigned ratings from the big three credit rating agencies.
 Wednesday, October 26 2022 16:09

ArmInfo.On 26 October, S&P Global Ratings assigned its 'B+/B' long- and short-term issuer credit ratings to Ardshinbank CJSC with Stable Outlook.  The rating is on the level of the Sovereign of Armenia.

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IDBank issues two tranches of bonds at once։ AMD and USD
 Tuesday, October 25 2022 16:13

ArmInfo.On October 24, through a public offer, IDBank issues two coupon bonds in AMD and USD under the abbreviations AMANLBB2JER2 and AMANLBB2IER4.

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Taxes from mining operations have largest share in Armenia`s budget  tax revenues 
 Monday, October 24 2022 18:05

ArmInfo. This January-September, Armenia's consolidated budget revenues totaled AMD 1,412.1bln - AMD 77.2bln (5.8%) above the target (AMD 1,334.9bln). 

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In 2023, Armenia will allocate 144 billion drams to Nagorno-Karabakh
 Monday, October 24 2022 18:01

ArmInfo. In 2023, Armenia will allocate 144 billion drams (about 355 million US dollars) to  Nagorno-Karabakh, the estimated exchange rate of the Armenian dram to  the dollar is fixed at 404.74 drams per $.

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HSBC Armenia hosted an event dedicated to foreign exchange hedging instruments in the local financial market
 Friday, October 21 2022 16:22

ArmInfo.Managing foreign exchange (FX) risk has become a major theme in the current market environment. This renewed focus on FX can be explained by the significant increase in FX volatility, and is of special attention to those specializing in goods and services cross-border trade.

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World Bank to grant Armenia EUR 22.6mln loan for Additional Financing  of the Education Improvement Project
 Friday, October 21 2022 11:17

ArmInfo. The World Bank will grant Armenia a 22.6 million euro loan for Additional Financing of the Education Improvement Project (EIP) in Armenia. The Standing  Committee on Financial-Credit and Budgetary Affairs has approved the  draft agreement submitted to ratification by Armenia's Government. 

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Additional $86 million to be provided to RA MoD 
 Thursday, October 20 2022 15:09

ArmInfo.An additional 86 million dollars will be provided to the RA Ministry of Defense   (about $86 million at the current exchange rate).

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EU to allocate EUR 33 million grant to Armenia for formation of  Ministry of Internal Affairs and development of SMEs
 Thursday, October 20 2022 12:48

ArmInfo.Armenia will receive 33 million euros from the EU for reforms of the Ministry of Internal Affairs and socio-economic recovery in the post-pandemic and post-war  periods. On October 20, the Government of Armenia approved a proposal  to sign two financial agreements between the Republic of Armenia and  the European Commission.

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Non-interest incomes from currency transactions remain main factor of  unprecedented increase in Armenian banks` profits
 Thursday, October 20 2022 01:59

ArmInfo. Non-interest incomes from currency transactions remain the main factor of the unprecedented increase in the Armenian banks' profits, according to the data of the ARMINFO- compiled Express Ranking of Armenia Banks for September 30, 2022.  According to the data, the total net profits of the banks showed a  2.8-fold year-on-year increase, up to AMD 187.8 or $463mln at the  current exchange rate. 

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Expert: The Armenian economy is attractive for investors
 Tuesday, October 18 2022 15:04

ArmInfo. Switzerland’s Symbiotics Investments ranks Armenia in fourth place, along with Peru and Uzbekistan, in terms of the volume of investments it provides. The firm is the largest private investor in the country’s financial sector, providing resources for the development of small and medium-sized businesses. Symbiotics Investments Regional Manager Alexandr Fando provided this information during a conversation with an ArmInfo correspondent during the celebration of the first anniversary of the opening of the regional office in Yerevan.

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Armenia`s national debt in AMD terms down due to AMD appreciation 
 Tuesday, October 18 2022 11:01

ArmInfo.This January-September 2022, Armenia's national debt increased by AMD $705.9 or by 7.7%, up to $9,963.6mln. AMD appreciation (15% USD depreciation against the  AMD this January-September - AMD 480/$1 to 405/$1) caused a 9%  decrease in Armenia's national debt or by AMD 398.1bln, down to AMD  4,031.5bln. 

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40% of Armenia`s 2023 on-budget expenditures intended for social  sector
 Friday, October 14 2022 13:49

ArmInfo.The on-budget social expenditures will be increased by about $166mln next year (the budgeted AMD/USD exchange rate is AMD 404.74/$1), according to the  2023 budget message. 

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News
Double increase in turnover tax rate will stimulate transition to  common taxation system: Deputy MinisterDouble increase in turnover tax rate will stimulate transition to  common taxation system: Deputy Minister
Rocket Line - now for 60 months: Idram and IDBankRocket Line - now for 60 months: Idram and IDBank
Rising prices for services, going into shadows and closing businesses  - incomplete list of Rising prices for services, going into shadows and closing businesses  - incomplete list of "expectations" from revision of turnover tax  rate from SME Cooperation Association President
Liability for misrepresented information is proposed in ArmeniaLiability for misrepresented information is proposed in Armenia
Government proposes to make changes to car trade system within  Government proposes to make changes to car trade system within  "Trade-in" program
Armswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transitionArmswissbank attracts us$ 10 million loan package from EBRD to support competitiveness and green transition
Armenian lawyers unwilling to pay taxes on universal basisArmenian lawyers unwilling to pay taxes on universal basis
EU Commissioner: EU will continue to contribute to economic  development of ArmeniaEU Commissioner: EU will continue to contribute to economic  development of Armenia
PM discusses opportunities for diversifying Armenian economy with WB,  IFC management PM discusses opportunities for diversifying Armenian economy with WB,  IFC management 
EBRD President considers programs implemented by Bank useful for  development of private sector in ArmeniaEBRD President considers programs implemented by Bank useful for  development of private sector in Armenia
EBRD lends up to US$ 10 million to Armeconombank for MSME on-lendingEBRD lends up to US$ 10 million to Armeconombank for MSME on-lending
Armenia benefits greatly from influx of capital and IT specialists -  EBRD chief economistArmenia benefits greatly from influx of capital and IT specialists -  EBRD chief economist
Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027Finance Ministry, French Development Agency sign cooperation  agreement for 2024-2027
Idram Junior and Koreez signed a memorandum of cooperationIdram Junior and Koreez signed a memorandum of cooperation
During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.During the 33rd EBRD Business Forum, Ardshinbank hosted a panel discussion on economic and trade sanctions.
Government to allocate additional AMD 3 billion to finance state  order for healthcareGovernment to allocate additional AMD 3 billion to finance state  order for healthcare
EBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEsEBRD provides $10 million loan to ArmSwissBan to support  competitiveness and green transition of MSMEs
Pankin: Armenia`s suspension of CSTO funding isn`t tragedyPankin: Armenia`s suspension of CSTO funding isn`t tragedy
Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion Armenian government approves program for providing housing to  families from Artsakh; expenses estimated at  AMD 10-12 billion 
EBRD Governors re-elect President Odile Renaud-Basso for second termEBRD Governors re-elect President Odile Renaud-Basso for second term
EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia EBRD, USAID to develop transport infrastructure of Armenia,  Azerbaijan, Georgia 
No specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFANo specific dates for the entry into force of the law on compulsory  life insurance for tourists visiting Georgia - RA MFA
Pashinyan: all those who have the necessary skills, abilities and  desire can make a profit in ArmeniaPashinyan: all those who have the necessary skills, abilities and  desire can make a profit in Armenia
Odile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factorsOdile Renaud-Basso: Armenian economy continues to grow despite  numerous negative factors
Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines Minister of Territorial Administration and Infrastructures refrains  from specifying North-South Road Corridor Investment Program`s  implementation costs and deadlines 
EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%EBRD improves Armenia`s GDP growth forecast for 2024 from previous  4.5% to updated 6.2%
EBRD promises unprecedented investments in Armenian economyEBRD promises unprecedented investments in Armenian economy
FMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollarsFMO provided Ardshinbank with a guarantee for a credit portfolio of 20 million US dollars
Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President Lending for construction of southern section of Sisian-Kajaran road  will be largest program ever implemented by EBRD in Armenia - Bank  President 
French Development Agency, Armenian government to expand cooperation  areas and programs` scope French Development Agency, Armenian government to expand cooperation  areas and programs` scope 
The Power of One Dram Sums up the Two-Year Program with Teach for ArmeniaThe Power of One Dram Sums up the Two-Year Program with Teach for Armenia
Noubar Afeyan willing to use his potential to strengthen Armenia Noubar Afeyan willing to use his potential to strengthen Armenia 
Ministry of Economy of Armenia denies that growth in agricultural  exports is due to re-exportsMinistry of Economy of Armenia denies that growth in agricultural  exports is due to re-exports
Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%Finance Minister: Armenia`s GDP generation growth potential increased  from 4-4.5% to 5.5-6%
EBRD funds customs and logistics centre in SyunikEBRD funds customs and logistics centre in Syunik
Grigori Zakaryan: “Capital markets have a crucial for economic development.”Grigori Zakaryan: “Capital markets have a crucial for economic development.”
Ambassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEUAmbassador of Kazakhstan: priorities for development of Eurasian integration proposed by Armenia will allow us to intensify mutually  beneficial cooperation within EAEU
EBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEsEBRD and the European Union are joining forces with Acba bank to boost the availability of funding for Armenian MSMEs
Thanos Arvanitis: The time has come for Armenia to accelerate reformsThanos Arvanitis: The time has come for Armenia to accelerate reforms
Armenia to host 33rd EBRD Business Forum with flagship sponsorship of ArdshinbankArmenia to host 33rd EBRD Business Forum with flagship sponsorship of Ardshinbank
EAEU economic operators will become more recognizable when carrying  out foreign economic activitiesEAEU economic operators will become more recognizable when carrying  out foreign economic activities
Martin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decreaseMartin Galstyan: If background is favorable, reduction in key rate  will result in lending rates decrease
About 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economyAbout 75% of Armenia`s exports are precious metals and stones, which  speaks of vulnerability of Armenia`s economy
92% tax revenues recorded in Armenia in 1st quarter of 2024 92% tax revenues recorded in Armenia in 1st quarter of 2024 
IDBank issues the 2nd tranche of dollar bonds of 2024IDBank issues the 2nd tranche of dollar bonds of 2024
Armenia to be next country to host ACE programArmenia to be next country to host ACE program
Armenia agrees to EBRD expansion Armenia agrees to EBRD expansion 
Alkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure developmentAlkis  Drakinos : It is necessary to first pick the low hanging fruit  to ensure development
CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%CBA Governor: Overheating of prices in Armenian real estate market  may have ranged from 20-30%
Government writes off 469 financial obligations of Artsakh citizens  on loans secured by goldGovernment writes off 469 financial obligations of Artsakh citizens  on loans secured by gold
Food products, services cause of 0.8% inflation in Jan-Apr 2024 Food products, services cause of 0.8% inflation in Jan-Apr 2024 
Armenia`s Deputy Premier receives IMF delegationArmenia`s Deputy Premier receives IMF delegation
Armenian Economy Minister travels to USA on week-long working visitArmenian Economy Minister travels to USA on week-long working visit
Armenia is trapped in Armenia is trapped in "Dutch disease" - economist
“By Your Side”: IDBank`s new support program for displaced Artsakh citizens“By Your Side”: IDBank`s new support program for displaced Artsakh citizens
Team Telecom Armenia develops Be Free packageTeam Telecom Armenia develops Be Free package
Armenia scares with its high prices: Economist sounds alarm due to  reduction in exports of servicesArmenia scares with its high prices: Economist sounds alarm due to  reduction in exports of services
Large crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 millionLarge crayfish farming complex to be built in Shirak: volume of  investments totals AMD 300 million
Eurowings launches Berlin-Yerevan-Berlin flightsEurowings launches Berlin-Yerevan-Berlin flights
Russia bans sugar exports; 28 thousand tons allowed to be exported to  ArmeniaRussia bans sugar exports; 28 thousand tons allowed to be exported to  Armenia
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