ArmInfo. Ameriabank (the Bank) has reached an agreement with the BOGG (the Group), a UK registered financial group, to join the latter as a standalone entity and the Group to become the main shareholder of the Bank, with the European Bank for Reconstruction and Development (“EBRD”) retaining their 10% shareholding in Ameriabank.

ArmInfo.  Bank of Georgia Group PLC ("BOGG" or the "Group") announces the proposed acquisition  of 100 per cent. of a leading bank in Armenia, Ameriabank CJSC ("Ameriabank"), for approximately $303.6 million. This acquisition will significantly enhance the Group's presence and growth opportunities within a fast-growing and attractive market, according to BOGG's official statement.

ArmInfo. Those economic and financial processes that began to develop in 2018 were associated  with international developments, and primarily with the Russian- Ukrainian conflict. Former member of the National Assembly of Armenia, who for many years headed the Parliamentary Standing Committee on Economic Affairs  Gagik Minasyan stated on February 16 during a conversation with journalists.

ArmInfo.The most bookish holiday of the year is almost here: on these days the book is definitely the most bought and gifted item in the town, although you can’t call it an “item”. The special offers of bookstores exceed the New Year promotions, and the book queues remind of the good old days when people stood in line to buy books.

ArmInfo. If a citizen works abroad, but is at the same time a resident of Armenia, then he is  obliged to independently calculate and pay income tax on the income he receives from this work, as well as submit an online income declaration to the tax authority of the Republic of Armenia no later  than May 1 of the following year, the State Revenue Committee of Armenia reports.

ArmInfo. The decision of the State Revenue Committee of Armenia on taxation of labor migrants  and penalties in case of non-payment is extremely unfair. Tatevik Bezhanyan, Advocacy Officer at Armenian Caritas Migration and Development Project , stated during a press conference on February 16.  

ArmInfo. Global economic growth will slow, according to the Macroeconomic Outlook 2024-2026 by  the Eurasian Development Bank (EDB). 

ArmInfo.The baseline scenario projects Armenian GDP growth at 5.7% in 2024 and 5.3% in 2025. Inflation could accelerate to  3.6% in  2024 amid continued elevated domestic demand, a moderate weakening of the national currency, and the ongoing cycle of refinancing rate reductions, according to the Macroerconomic Outlook by the Eurasian Development Bank (EDB). 

ArmInfo. The net profit of the insurance sector of Armenia dropped by 33% in 2023, after a 4.5-fold  increase in 2022. "This resulted from higher reimbursement growth of 30% with a modest 17% increase in premiums.

ArmInfo. The likelihood of attracting a new international brand to the Armenian financial market  is quite low. Economist Haykaz Fanyan expressed a similar opinion on his Facebook page, commenting on the HSBC's withdrawal from Armenian market.

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ArmInfo. On February 15, the Government of Armenia approved the proposal to sign Agreement No. 2  on amending the loan agreement Gyumri Urban Roads Project signed between the Republic of Armenia and the European Bank for Reconstruction and Development (EBRD) on May 11, 2016. 

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ArmInfo.The placement of AMD 32bln bonds of Electric Networks of Armenia CJSC was successfully  completed within a short space of time, Director General Karen Harutyunyan told reporters. 

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ArmInfo.Fitch Ratings has upgraded ACBA Bank Open Joint-Stock Company's (ACBA) Long-Term Issuer  Default Rating (IDR) to 'BB-' from 'B+', and the bank's Viability Rating (VR) to 'bb-' from 'b+'. The Outlook is Stable. The Fitch Ratings press release received by ArmInfo reads.

ArmInfo.The impact of re-exports on GDP growth in 2022 was about 1%, and in 2023 - even  lower, which was associated with changes in the sanctions environment, a new reality replacing traditional directions, Deputy Minister of Economy Rafael Gevorgyan TOLD Armenia's Public TV. 

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ArmInfo. The Government of Armenia will not abandon the program of subsidizing loans for the  creation of intensive gardens, even against the background of identifying cases of abuse during its implementation. "Financing will continue, and let those who steal be responsible for it," Prime  Minister Nikol Pashinyan said on February 8 at a cabinet meeting, during which changes were made to the program.