ArmInfo NewsFeed
Old Yerevan: IDBank’s New Branch in an Exclusive FormatOld Yerevan: IDBank’s New Branch in an Exclusive Format
Rosatom inspects radioactive waste storage facility of Armenian NPPRosatom inspects radioactive waste storage facility of Armenian NPP
Infrastructure reforms on agenda of Ministry of Economy - official Infrastructure reforms on agenda of Ministry of Economy - official 
AraratBank and SIA: Ongoing Partnership for Social EntrepreneurshipAraratBank and SIA: Ongoing Partnership for Social Entrepreneurship
Team Telecom Armenia - WCIT2024/DigiTec technology partner: MoU  signedTeam Telecom Armenia - WCIT2024/DigiTec technology partner: MoU  signed
Armswissbank awarded “Leading Partner Bank in Armenia” third year in a row by ADBArmswissbank awarded “Leading Partner Bank in Armenia” third year in a row by ADB
Armenian startups to present their potential at DigiTecArmenian startups to present their potential at DigiTec
Preferential terms for import of 876 electric cars in effect in  Armenia Preferential terms for import of 876 electric cars in effect in  Armenia 
French FM visits Vedi reservoir construction site French FM visits Vedi reservoir construction site 
Moscow Domodedovo Airport named FLYONE ARMENIA punctual carrierMoscow Domodedovo Airport named FLYONE ARMENIA punctual carrier
SRC: Damage caused to state -155 million AMD SRC: Damage caused to state -155 million AMD 
UNWTO Secretary General: We add Armenia to the wine tourism mapUNWTO Secretary General: We add Armenia to the wine tourism map
Armswissbank became a principal member of Visa InternationalArmswissbank became a principal member of Visa International
Armenia`s real estate market is <in chocolate>Armenia`s real estate market is
Tourism investment guide developed for RA with support of UNWTOTourism investment guide developed for RA with support of UNWTO
Gevorg Papoyan: Most of the wines produced in Armenia more than meet  European standardsGevorg Papoyan: Most of the wines produced in Armenia more than meet  European standards
Official opening of VIII UN Global Conference on Wine Tourism takes  place in YerevanOfficial opening of VIII UN Global Conference on Wine Tourism takes  place in Yerevan
Armenia to abolish profit limit for military industry Armenia to abolish profit limit for military industry 
Yandex Money blocking customer accounts (wallets) at foreign  countries` request Yandex Money blocking customer accounts (wallets) at foreign  countries` request 
WB loan to enable reconstruction of three electric power substations WB loan to enable reconstruction of three electric power substations 
WB to support compulsory medical insurance in Armenia WB to support compulsory medical insurance in Armenia 
400 apartments will be raffled by an exceptional price as a result of the new cooperation between Ardshinbank CJSC and ML Mining400 apartments will be raffled by an exceptional price as a result of the new cooperation between Ardshinbank CJSC and ML Mining
RA IC names the cause of the explosion at the Hrazdan TPPRA IC names the cause of the explosion at the Hrazdan TPP
The Central Bank of Armenia has revised its GDP growth forecast for  2024 from the previous range of 6.8- 6.1% to a new range of 6.5-5.8%The Central Bank of Armenia has revised its GDP growth forecast for  2024 from the previous range of 6.8- 6.1% to a new range of 6.5-5.8%
Fines for inaccurate tax accounts to be imposed in Armenia Fines for inaccurate tax accounts to be imposed in Armenia 
Armenia to impose punishment for unsanctioned export on sensitive  goods to EAEU Armenia to impose punishment for unsanctioned export on sensitive  goods to EAEU 
Armenia, Hungary to continue developing cooperation in sectoral  directions along with active political dialogueArmenia, Hungary to continue developing cooperation in sectoral  directions along with active political dialogue
USA to double financial aid to Armenia USA to double financial aid to Armenia 
Central Bank of Armenia: Rising unemployment and low inflation are  the result of weak aggregate demandCentral Bank of Armenia: Rising unemployment and low inflation are  the result of weak aggregate demand
Armenia ratifies agreements on determining the origin of goods  exported from the EAEU and on warehouse certificates for agricultural  productsArmenia ratifies agreements on determining the origin of goods  exported from the EAEU and on warehouse certificates for agricultural  products
Armenia ratifies the CIS Free Trade agreement Armenia ratifies the CIS Free Trade agreement 
Armenia to become part of the International Solar AllianceArmenia to become part of the International Solar Alliance
Armenia`s CB further reduces refinancing rate, from 7.75% down to  7.5%Armenia`s CB further reduces refinancing rate, from 7.75% down to  7.5%
Idram: Infrastructure for Financial Institutions․ Idram for EveryoneIdram: Infrastructure for Financial Institutions․ Idram for Everyone
Armenia intends to join the e-CMR protocolArmenia intends to join the e-CMR protocol
Yerevan to host 3rd Eurasian Economic Forum Yerevan to host 3rd Eurasian Economic Forum 
IT specialists, miners and financiers earn 5 times more than teachers and doctors - Statistical Department of ArmeniaIT specialists, miners and financiers earn 5 times more than teachers and doctors - Statistical Department of Armenia
MP proposed eradicating the practice of illegally privatizing and then selling state propertyMP proposed eradicating the practice of illegally privatizing and then selling state property
Armenia`s foreign trade turnover increased by 95% thanks to   Armenia`s foreign trade turnover increased by 95% thanks to   "precious route" Russia - Armenia - UAE
Shares of two state-owned companies privatized, and 3.7 billion drams  transferred to the state and community budgets in 2023: Head of the  State Property CommitteeShares of two state-owned companies privatized, and 3.7 billion drams  transferred to the state and community budgets in 2023: Head of the  State Property Committee
In Armenia`s foreign trade, the share of precious metals and stones increased from 14% to 61% over the yearIn Armenia`s foreign trade, the share of precious metals and stones increased from 14% to 61% over the year
Nokia, Team Telecom Armenia open access to 25G PON services  throughout ArmeniaNokia, Team Telecom Armenia open access to 25G PON services  throughout Armenia
1,115 electric cars can be imported to Armenia at preferential  tariffs by 2024 end 1,115 electric cars can be imported to Armenia at preferential  tariffs by 2024 end 
Armenia intends to adopt Latvia`s experience in developing a  closed-loop economyArmenia intends to adopt Latvia`s experience in developing a  closed-loop economy
Armenia, Latvia to expand business ties Armenia, Latvia to expand business ties 
The Power of One Dram to The Power of One Dram to "Moonk" technoschool
An interdepartmental commission to support investment programs to be  established in ArmeniaAn interdepartmental commission to support investment programs to be  established in Armenia
Armenia`s external debt growing since July 2024Armenia`s external debt growing since July 2024
Motor Insurers` Bureau of Armenia is increasing the maximum threshold  under the European protocol to 400 thousand drams from September 18Motor Insurers` Bureau of Armenia is increasing the maximum threshold  under the European protocol to 400 thousand drams from September 18
Yerevan to host III Eurasian Economic ForumYerevan to host III Eurasian Economic Forum
Armenia`s economy and state competing for sooner collapse -  ex-official Armenia`s economy and state competing for sooner collapse -  ex-official 
Transfers` inflow to Armenia continues to declineTransfers` inflow to Armenia continues to decline
All non-public funds to be accountable to Armenia`s CB All non-public funds to be accountable to Armenia`s CB 
Armenia`s authorities plan bridge construction in Akhtala Armenia`s authorities plan bridge construction in Akhtala 
Armenia`s premier raises problem of low-quality electric energy  supply Armenia`s premier raises problem of low-quality electric energy  supply 
Armenian broker Invia Investments to provide access to trading on ITSArmenian broker Invia Investments to provide access to trading on ITS
Electric Networks of Armenia to invest AMD 296bln in upgrading grid  system by 2026Electric Networks of Armenia to invest AMD 296bln in upgrading grid  system by 2026
Delegates from 36 countries to attend UN Global Wine Tourism  ConferenceDelegates from 36 countries to attend UN Global Wine Tourism  Conference
Electric Networks of Armenia ever apolitical - board chairman Electric Networks of Armenia ever apolitical - board chairman 
Armenia`s authorities refrain from revising real estate prices for  taxation Armenia`s authorities refrain from revising real estate prices for  taxation 
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Talk of the day

Rosatom inspects radioactive waste storage facility of Armenian NPP

 Tuesday, September 17 2024
Rosatom inspects radioactive waste storage facility of Armenian NPP

ArmInfo.JSC <Rosatom Service> (Electric Power Division of the State Corporation <Rosatom>) and JSC <Experimental Demonstration Center for Decommissioning of Uranium- Graphite Nuclear Reactors> (JSC <PDC UGR>, a part of the State Corporation <Rosatom>) have initiated an inspection of the radioactive waste (RAW) storage facility at the Armenian NPP. This assessment is being conducted to determine the feasibility of secure and reliable storage of RAW at the Armenian NPP site as part of the extension of its service life until 2036.

Economy

Infrastructure reforms on agenda of Ministry of Economy - official 

ArmInfo. Currently, the Ministry of Economy's agenda includes infrastructure reforms to  implement the policy developed by the department. This was stated by Deputy Minister of Economy of Armenia Sevak Mikaelyan during a roundtable discussion on "Technology Transfer in Armenia". 

Preferential terms for import of 876 electric cars in effect in  Armenia 

ArmInfo.Until the end of 2024, it will be possible to import another 876 electric vehicles to  Armenia at zero customs duty, the Revenue Committee (RRC) of the Republic of Armenia reports. 

French FM visits Vedi reservoir construction site 
Moscow Domodedovo Airport named FLYONE ARMENIA punctual carrier

Finance and banks

Old Yerevan: IDBank’s New Branch in an Exclusive Format

ArmInfo."Old Yerevan" is the name of the new branch of the innovative IDBank, located in the historic center of the city on Pavstos Buzand Street, designed in an exclusive format.

AraratBank and SIA: Ongoing Partnership for Social Entrepreneurship

ArmInfo.The Social Impact Award (SIA) ceremony will take place on October 4th of this year at Impact Hub Yerevan. For the second year in a row, AraratBank provides the prize fund, emphasizing its commitment to businesses that value social impact apart from profit.

Armswissbank awarded “Leading Partner Bank in Armenia” third year in a row by ADB
Armswissbank became a principal member of Visa International

Insurance

WB to support compulsory medical insurance in Armenia 

ArmInfo.The World Bank loan funds will be used to support the universal health insurance  implementation program in Armenia. The draft law of the Republic of Armenia "On Ratification of the Loan Agreement "Implementation of the Universal Health Insurance Program" between the Republic of Armenia  and the International Bank for Reconstruction and Development (IBRD) was approved by the Government of Armenia on September 12.

MTLP loss coefficient up in Armenia`s insurance market

ArmInfo. In the insurance market  of Armenia, the loss ratio for compulsory motor third-party liability  insurance increased to 79.3% by August 1, 2024 from 64% last year.   This is evidenced by the data of the Bureau of Motor Insurers of  Armenia.

Ingo Insurance presents job loss insurance in Armenia`s market 
From January 1, 2026, medical insurance will become mandatory for   tourists  arriving in Georgia
Energy

WB loan to enable reconstruction of three electric power substations 

ArmInfo.  The World Bank loan funds will be used to support the program for the implementation of universal health care in Armenia. The draft law of the Republic of  Armenia between the Republic of Armenia and the  International Bank for Reconstruction and Development> (IBRD) was  approved by the Government of Armenia on September 12.

RA IC names the cause of the explosion at the Hrazdan TPP

ArmInfo. An air tank exploded at the Hrazdan TPP, the Investigative Committee of Armenia reports,  presenting details of the incident on September 10.

Armenia to become part of the International Solar Alliance
Armenia`s premier raises problem of low-quality electric energy  supply 

Technology

Team Telecom Armenia - WCIT2024/DigiTec technology partner: MoU  signed

ArmInfo. From October 4 to 7, Yerevan will host the World Congress on Information Technology  (WCIT-2024), bringing together leading technology companies and specialists. The event will take place at the Karen Demirchyan Sports and Concert Complex, and the DigiTec exhibition will be held at the  Meridian Exhibition Center. The main technology partner for the event is Team Telecom Armenia.

Armenian startups to present their potential at DigiTec

ArmInfo. Armenian startups will present their potential as part of the largest technology exhibition in Armenia, DigiTec. As stated in the message of the organizers of the exhibition, from October 4 to 6, a special platform, Startup Alley, will be created for startups within DigiTec, where the latter will have the opportunity to present their  developments to more than 100 investors.

Armenia`s Ministry of High-Tech Industry plans to introduce 5G  network 
How to prevent the collapse of Armenia`s IT sector - expert 

Real estate

Armenia`s real estate market is

ArmInfo. Armenia's real estate market may grow significantly by the end of the year. These estimates were shared by Arsen Avetisyan, the founder of the Armenian  Association of Real Estate Agents, during a press conference on  September 12.

Foreigners` transactions on buying and selling property reduced in Armenia

ArmInfo. In Armenia, in the  first half of 2024, foreign citizens completed 1,737 real estate  purchase and sale transactions, which is 21.8% lower than a year ago.   Moreover, of the total number of transactions, the share of  transactions made by foreigners accounted for 6.4% (versus 9.4% a  year earlier). This is evidenced by the data of the RA State  Committee for Real Estate Cadastre.

Land purchase and sale transactions in regions of Armenia increased by 12.7%
4.1% rise in housing prices in Yerevan in first half of 2024

Statistics

IT specialists, miners and financiers earn 5 times more than teachers and doctors - Statistical Department of Armenia

ArmInfo. As of July 2024, the highest wages in Armenia were recorded in the information and  communication sector. According to the Statistical Committee of the  Republic of Armenia, as of the reporting date, the average salary of  specialists in this sector was 824.1,000 drams, which is 0.2% higher  than the previous year's figure.

Armenia`s foreign trade turnover increased by 95% thanks to   "precious route" Russia - Armenia - UAE

ArmInfo. In Armenia's foreign trade, Russia leads in imports at 63.6% and the UAE leads in exports  at 45.3% compared to 25.3% and 13% respectively from a year ago.   Their share in the total turnover has increased to 44.4% and 19.5%  from 36% and 5.2% a year earlier. This is evidenced by the data of  the RA Statistical Committee for January-July 2024.  

In Armenia`s foreign trade, the share of precious metals and stones increased from 14% to 61% over the year

ArmInfo. In Armenia's foreign trade, the share of precious metals and stones in imports and exports reached 69-55% in January-July 2024 (from 19-11% a year earlier), thereby increasing in total turnover from 14% to 61% over the year.

Armenia`s international reserves go down $3.354bln

ArmInfo. Armenia's gross international reserves (GIR) decreased by 14.2% per annum or $555 million to $3.354 billion by July 2024, while a year ago an increase of 13.3% or $458.6 million was recorded. Thus, GIR continues to move away from the historical maximum of $4.2 billion recorded in August 2023.

Supplies of Russian liquefied gas to Armenia increased significantly in 2023, while natural gas supplies decreased moderately
Armenia reduced its exports of copper ore and zinc concentrate, while increasing supplies of molybdenum concentrate
Russia remains the primary supplier of wheat, flour and corn to Armenia
Armenia increased car imports by 86.3% in 2023
Exchange rates
17.09.2024
RUB4.24-0.01
USD387.610.42
EUR431.530.90
GBP512.071.25
CAD285.13-0.07
JPY27.55-0.08
CNY54.610.05
CHF458.820.44




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