Monday, May 22 2023 12:39
Alexandr Avanesov

Batumi-Novorossiysk ferry service put into operation 

Batumi-Novorossiysk ferry service put into operation 

ArmInfo. Sea cargo transportation between Batumi and Novorossiysk, which is expected to  operate as an alternative to the Upper Lars checkpoint, has been put into operation. 

Test transportation of a container cargo went off well. the  government plans to subsidize sea cargo transportation. 

Earlier Armenia's Deputy Minister of Economy Narek Teryan announced a  Poti-Caucasus ferry service in the first quarter of 2023. All the  issues with both Georgia and Russian partners have been settled.   Last April, because of the sanctions against Russia, the ferry  service agreement was postponed. However, last September, the lists  of ferries and cargoes allowed to use the ferry service were  specified with the APM Terminals Poti company (the Netherlands). 

Last spring, Armenia's Minister of Economy Vahan Kerobyan announced  the commissioning of the Poti- Caucasus ferry service from June 15.  The ferry service will connect Armenia's railway network with  Eurasian Economic Union. The government plans to subsidize the ferry  service, while the South Caucasus Railway promises a 30% reduction in  rates. The Russian and Georgian railways announced 50% and 25%  reduction respectively.    

POST A COMMENT
Input digits     


News
Armenia to sign an additional agreement with EDB on financing E-Labor  Exchange programmeArmenia to sign an additional agreement with EDB on financing E-Labor  Exchange programme
As of September 20, 2023, state treasury of Armenia received 14.5%  more taxes than during  same period in 2022As of September 20, 2023, state treasury of Armenia received 14.5%  more taxes than during  same period in 2022
Armenia, UAE to soon sign several agreements in various fields,  Kerobyan told journalists Armenia, UAE to soon sign several agreements in various fields,  Kerobyan told journalists 
Armenia, UAE sign 3 memorandums of understandingArmenia, UAE sign 3 memorandums of understanding
In Armenia`s insurance market, loss ratio for CMPTL began to grow  slowlyIn Armenia`s insurance market, loss ratio for CMPTL began to grow  slowly
Ministry of Economy of Armenia establishes working relations with  German BVMWMinistry of Economy of Armenia establishes working relations with  German BVMW
Armenia`s national debt $11.4bln Armenia`s national debt $11.4bln 
Government of Armenia approves Program for extending operational life  of Unit 2 at Metsamor NPPGovernment of Armenia approves Program for extending operational life  of Unit 2 at Metsamor NPP
Deputy Finance Minister of Armenia, WB Regional Director for South  Caucasus discuss current cooperation issuesDeputy Finance Minister of Armenia, WB Regional Director for South  Caucasus discuss current cooperation issues
Yerevan hosting first Armenian-Korean business forum Yerevan hosting first Armenian-Korean business forum 
Armenian-Iraqi Intergovernmental joint commission`s 3rd meeting in  Baghdad concluded with signing of protocolArmenian-Iraqi Intergovernmental joint commission`s 3rd meeting in  Baghdad concluded with signing of protocol
CBA, IMF discuss introduction of new approaches to monetary policyCBA, IMF discuss introduction of new approaches to monetary policy
Solar photovoltaic floating station opened on Lake YerevanSolar photovoltaic floating station opened on Lake Yerevan
IFC`s cooperation with private sector of Armenia is important from  perspective of implementing  best standards - Deputy Prime MinisterIFC`s cooperation with private sector of Armenia is important from  perspective of implementing  best standards - Deputy Prime Minister
Tech Week to be held in Vanadzor this yearTech Week to be held in Vanadzor this year
Armenian delegation participates in 4th BRITACOFArmenian delegation participates in 4th BRITACOF
Armenian Economy Minister met with Iraqi PresidentArmenian Economy Minister met with Iraqi President
Martin Galstyan: deflationary impact from external sector on Armenian  economy will continueMartin Galstyan: deflationary impact from external sector on Armenian  economy will continue
Martin Galstyan: Inflation risks are more manageable todayMartin Galstyan: Inflation risks are more manageable today
Vahe Davtyan: Middle East Corridor pushes back prospect of launching  so-called Zangezur Corridor even moreVahe Davtyan: Middle East Corridor pushes back prospect of launching  so-called Zangezur Corridor even more
Central Bank Governor: As risk environment softens, interest rates  will declineCentral Bank Governor: As risk environment softens, interest rates  will decline
CBA improves its 2023 forecast for Armenia`s GDP growth from previous  6.9% to updated 7.2%CBA improves its 2023 forecast for Armenia`s GDP growth from previous  6.9% to updated 7.2%
Central Bank of Armenia reduces refinancing rate this time more  noticeably - from 10.25% to 9.75%Central Bank of Armenia reduces refinancing rate this time more  noticeably - from 10.25% to 9.75%
Armenia, Iran to intensify cooperation in tax and customs areas - SRCArmenia, Iran to intensify cooperation in tax and customs areas - SRC
Expert: Armenia`s status as electricity exporting country may  decrease significantlyExpert: Armenia`s status as electricity exporting country may  decrease significantly
Deflation in Armenia is very insignificant due to moderate decrease  in food prices and increase in service prices Deflation in Armenia is very insignificant due to moderate decrease  in food prices and increase in service prices 
Your business - our solutions: SoftPOS application from IDBank - your sales toolYour business - our solutions: SoftPOS application from IDBank - your sales tool
Vahan Kerobyan: The first 3 tourism clusters in Armenia will be  established in Areni, Gyumri and DilijanVahan Kerobyan: The first 3 tourism clusters in Armenia will be  established in Areni, Gyumri and Dilijan
IDBank completes placement of next tranche of $5 million bonds ahead  of scheduleIDBank completes placement of next tranche of $5 million bonds ahead  of schedule
Economist Konstantin Tserazov: “Dividend stories will remain in focus”Economist Konstantin Tserazov: “Dividend stories will remain in focus”
In Armenia, private companies and organizations to be involved in  workforce training and further hiringIn Armenia, private companies and organizations to be involved in  workforce training and further hiring
Armenian-Emirati Business Forum to be held in Yerevan in coming days  - MFAArmenian-Emirati Business Forum to be held in Yerevan in coming days  - MFA
Vahan Kerobyan on situation with Wildberries: We are studying  situation to understand whether there are violations that impinge on  competitionVahan Kerobyan on situation with Wildberries: We are studying  situation to understand whether there are violations that impinge on  competition
Armenia`s national debt rising Armenia`s national debt rising 
Armenia`s minister of economy hosts WB delegation Armenia`s minister of economy hosts WB delegation 
Asphalt laying on Tranche-3 road section of North-South transport  corridor to be completed by end of 2023Asphalt laying on Tranche-3 road section of North-South transport  corridor to be completed by end of 2023
Economy Ministry sees need to extend state subsidies for  Novorossiysk-Batumi-Novorossiysk ferry serviceEconomy Ministry sees need to extend state subsidies for  Novorossiysk-Batumi-Novorossiysk ferry service
Amid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad AzourAmid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad Azour
Idram is for all: commercial director Grigori YolyanIdram is for all: commercial director Grigori Yolyan
EBRD and EU sign first loan under EFSD+ Financial Inclusion Programme  with Acba bank EBRD and EU sign first loan under EFSD+ Financial Inclusion Programme  with Acba bank 
AMD 3,500,572 to the “SOS Children’s Villages” Armenian Charity Foundation AMD 3,500,572 to the “SOS Children’s Villages” Armenian Charity Foundation 
EBRD Annual Meeting to be held in Yerevan next yearEBRD Annual Meeting to be held in Yerevan next year
Growth of economic activity in Armenia is still double-digit, but  already with deceleration tendenciesGrowth of economic activity in Armenia is still double-digit, but  already with deceleration tendencies
Nicholas Schermers: There are serious prerequisites for expanding  Armenian-Dutch cooperation in high- techNicholas Schermers: There are serious prerequisites for expanding  Armenian-Dutch cooperation in high- tech
FLYONE ARMENIA airline congratulates its 1,000,000th passenger FLYONE ARMENIA airline congratulates its 1,000,000th passenger 
Tesvan QA Outsourcing Service Provider center opened in SevanTesvan QA Outsourcing Service Provider center opened in Sevan
In Armenia`s insurance marke, CMPTL loss ratio has been at level of  64% for year alreadyIn Armenia`s insurance marke, CMPTL loss ratio has been at level of  64% for year already
EBRD First Vice-President begins his visit to South Caucasus from ArmeniaEBRD First Vice-President begins his visit to South Caucasus from Armenia
By August 2023, Armenia`s international reserves reached new highs,  $4.126 billionBy August 2023, Armenia`s international reserves reached new highs,  $4.126 billion
Armenia records high macroeconomic indicators despite difficult  period - IMFArmenia records high macroeconomic indicators despite difficult  period - IMF
First in Armenia: Ameriabank`s Mortgage Portfolio Goes Past AMD 200BFirst in Armenia: Ameriabank`s Mortgage Portfolio Goes Past AMD 200B
Armenia, Egypt discuss opportunities to expand mutual tradeArmenia, Egypt discuss opportunities to expand mutual trade
EU to provide Armenia EUR 32 million to improve quality of education  in STEM subjectsEU to provide Armenia EUR 32 million to improve quality of education  in STEM subjects
S&P Upgrades Ameriabank to BB-, Outlook StableS&P Upgrades Ameriabank to BB-, Outlook Stable
Czech Airlines to resume flights on the route Prague-Yerevan- PragueCzech Airlines to resume flights on the route Prague-Yerevan- Prague
Freedom Broker Introduces Full Brokerage Services for Individuals, Pioneering the Market in ArmeniaFreedom Broker Introduces Full Brokerage Services for Individuals, Pioneering the Market in Armenia
EDB upgrades its forecast for Armenia`s economic growth to 7.5%EDB upgrades its forecast for Armenia`s economic growth to 7.5%
Fuel cards are in plusFuel cards are in plus
Exports of copper ore and zinc concentrate from Armenia declining,  molybdenum concentrate stagnating, and ores containing precious  metals increase significantlyExports of copper ore and zinc concentrate from Armenia declining,  molybdenum concentrate stagnating, and ores containing precious  metals increase significantly
S&P upgrades Armenia`s sovereign rating to `BB-` with `Stable`  outlook, expecting 7.5% GDP growth in 2023S&P upgrades Armenia`s sovereign rating to `BB-` with `Stable`  outlook, expecting 7.5% GDP growth in 2023
Read more


Exchange rates
22.09.2023
RUB4.030.03
USD387.240.89
EUR411.87-1.60
GBP474.21-3.36
CAD287.870.19
JPY26.12-0.01
CNY53.990.13
CHF426.99-3.82


Experts
Amid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad AzourAmid high growth, prudent fiscal stance would help avoid overheating  of economy, prevent inflationary pressures - Jihad Azour
Armenia needs tested and approved nuclear power unitArmenia needs tested and approved nuclear power unit
Economist: one should not expect serious economic growth in Armenia  without industrial development in mid-termEconomist: one should not expect serious economic growth in Armenia  without industrial development in mid-term
Read more

Commented
Sepuh-1 enterprise intends to organize mass production in long term,  which will allow exporting cars to EAEU market Sepuh-1 enterprise intends to organize mass production in long term,  which will allow exporting cars to EAEU market 
Armenia, U.S. discuss possibility of making PayPal available in  Armenia Armenia, U.S. discuss possibility of making PayPal available in  Armenia 
3.5% decline in living standard of average statistical employee in  Armenia 3.5% decline in living standard of average statistical employee in  Armenia 

Company bonds
UCO CJSC "GLOBAL CREDIT"1
UCO CJSC "GLOBAL CREDIT"3
UCO CJSC "GLOBAL CREDIT"4
UCO CJSC "GLOBAL CREDIT"5
UCO CJSC "GLOBAL CREDIT"7
"National Mortgage Company"2A
"National Mortgage Company"2B
UCO CJSC “FINCA” 1
UCO CJSC “FINCA” 2