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Following VEON`s example: Viva Cell-MTS intends to put up its shares  at public auction

 Friday, July 10 2020
Following VEON`s example: Viva Cell-MTS intends to put up its shares  at public auction

ArmInfo. Armenian communication  operator, telecommunication Viva Cell-MTS company is going to put up  its shares for public sale, "Zhamanak" newspaper  reports.


The inflow of transfers of individuals to Armenia continues to  decline

ArmInfo. The inflow of transfers  from Russia to Armenia in January- May 2020 sharply accelerated the  y-o-y decline to 31% from 1.1% in the same period of 2019. And the  dynamics of the outflow of transfers from Armenia to the Russian  Federation also unfolded in the direction of the 24.4% decline,  against the 6.6% growth a year earlier. This accelerated the y-o-y  decline in the net inflow of transfers from Russia to 37.7% in  January-May 2020 from 7.8% in January-May 2019. According to the  Central Bank of Armenia, in January-May 2020, the inflow of transfers  from Russia amounted to $ 242.9 million, and the outflow to the  Russian Federation - $ 133.4 million, which formed a net inflow in  this direction at the level of $ 109.5 million.

Kim Kardashian will join a fundraiser in support of SMEs in Armenia

ArmInfo.  The Support Armenia  Fund and the Ministry of Economy of Armenia will cooperate to  facilitate the restoration of micro-business. According to the press  service of the Ministry of Economy of the Republic of Armenia, on  July 10, Minister of Economy of the Republic of Armenia Tigran  Khachatryan held a video conversation with members of the initiative  group of the Fund, during which he announced the readiness of the  department to assist the targeted program to support small and medium  enterprises as a result of the fundraising organized by the Fund.

Caucasus Nature Fund provides Armenia with a new grant
Armenian government exempted Armenia Wine from customs duties on  import of equipment and raw materials

Finance and banks

International reserves of Armenia for the first half of the year  decreased, but in annual terms remained in growth

ArmInfo.  The gross international  reserves of Armenia decreased by 7.1% or $ 201.3 million in the first  half of 2020 (against a decline of 1.7% a year earlier), amounting to  $ 2.648 billion. This is evidenced by the data of the Central Bank of  Armenia. Of these, the lion's share - $ 2.597 billion falls on  external assets in hard currency, and the share of SDRs in the IMF  amounted to $ 51 million. According to the regulator's report, for  the first half of this year foreign assets in hard currency decreased  by 8.7%, and the share of SDR in the IMF jumped 8.3 times. Moreover,  in monthly terms, the decline in BMD was recorded in January-April  (with the highest rate in January - 6.3%), after which growth  followed in May, but in June the decline resumed. And the share of  SDRs in the IMF was decreasing monthly during the first quarter,  freezing in April at the same level, then in May it jumped sharply,  but again in June it marked a drawdown.

A number of new privileges on the joint platform of IDBank and Idram

ArmInfo.IDBank and Idram continue the development process of Banking department of their joint digital platform and application not only to present an easy and clear platform to their customers but also profitable offers for them.

Government and World Bank representatives discuss cashless payments  of pensions and benefits
Hovhannes Khachatryan nominated to the Council of the Central Bank of  Armenia


Sales of  Third party Liability (TPL)  electronic policies grow  rapidly in Armenia

ArmInfo. In Armenia, sales of TPL electronic policies are growing rapidly, the share of which in the total number of TPL agreements by June 2020 increased to 13% from 4% a year earlier. According to the data of the Auto Insurers Bureau of  Armenia, according to the results of January-May 2020, the number of  TPL-agreements concluded in the online mode reached 45504, having  increased 3 times in annual terms.

Garnik Petrosyan: Agricultural insurance in Armenia should develop in  a trilateral format

ArmInfo. The government should reinsure the risks of insurance companies participating in the agricultural insurance program. Garnik Petrosyan, former deputy minister of agriculture, candidate of agricultural sciences,  expressed a similar opinion during an online press conference  organized by the Club of Economic Journalists.

In Armenian insurance market corporate portfolio dominates in  premiums, while retail component dominates in reimbursements
In Armenia, the growth of health insurance indemnities sharply  accelerated

The company "Cascade Energy" in the implementation of the project to  modernize the electrical substation "Lich" will receive the right to  make purchases from one person

ArmInfo. The company "Cascade  Energy" in the implementation of the project to modernize the  electrical substation "Lich" will receive the right to make purchases  from one person. The corresponding decision was made at a meeting of  the RA Government on July 9.

"TRANSGAS" Co.Ltd. will transport gas at a tariff of 7790 drams per 1  thousand cubic meters

ArmInfo. TRANSGAS" Co.Ltd.,  which is part of Gazprom Armenia CJSC, will transport gas at a tariff  of 7790.88 drams per 1,000 cubic meters. The decision was made at a  meeting of the Public Service Regulation Commission (PSRC) on June  19.

PSRC: In Armenia electricity tariffs will not increase, at least  until February 1, 2021 
Armenian Ambassador and Iranian Oil Minister discuss Armenian-Iranian  gas program in exchange for electricity


In 2019, the revenue of the high-tech sector of Armenia amounted to $  320 million.

ArmInfo. In 2019, the revenue  of the high-tech sector of Armenia showed an increase of 30% per  annum. The Minister of High-Tech Industry of Armenia Hakob Arshakyan  wrote about this on his Facebook page. In particular, he said that  the annual revenue of all companies operating in the high-tech sector  of Armenia amounted to 155.2 billion drams ($ 320 million). The  minister noted that the data are presented without taking into  account the sphere of communications and telecommunications, as well  as trade in electronic devices.

The 3rd takes place online

ArmInfo. On the initiative of the Ministry of  High-Tech Industry of the Republic of Armenia, the Enterprise  Incubator Foundation and the Engineering Association, the 3-rd annual  Armenia-Engineering Week 2020 event is being held online from July 6  to July 10.

Armenia was selected as Action Coalition leader for technology and  innovations under the UN-led "Generation Equality" Forum on women`s  rights
UNDP ImpactAim Climate Change Technology Accelerator is looking for  ventures, targeting Energy Efficiency and Renewables challenges 

Real estate

Armenian citizens make money and get rid of the burden of mortgage  loans ahead of schedule - Pashinyan

ArmInfo. In September 2019,  compared to September last year, the number of mortgage loans in  Armenia increased by 23.3%, or by 7261 mortgage loans. The Prime  Minister of Armenia Nikol Pashinyan wrote about this on his Facebook  page.

Cadastral value of expensive real estate in Armenia may increase  eight fold

ArmInfo. The cadastral value of  luxury expensive real estate in Armenia can increase eight fold. This  was stated during the discussion of the draft law "On Establishing  the Procedure for Calculation of the Cadastre Approximate to the  Market Value of Real Estate for the Taxation of Real Estate" on  September 11, head of the Real Estate Cadastre Committee of Armenia  Sarhat Petrosyan. Thus, with the adoption of the law, the tax on  particularly expensive real estate will increase significantly.

Apartment prices in the regions of Armenia increased by 4.1% in the  first half of 2019
Property tax in Armenia will increase significantly from 2021

ArmInfo. The turnover of the  Armenian trade sector continues to decline. According to the RA  Statcommittee, in January-May 2020, the trade sector showed a decline  of 10.8% yoy (against growth of 9.4% a year earlier), with a volume  of 1.027 trillion. drams ($ 2.1 billion).  This decline is due to a  noticeable decline in retail sales and slightly smaller car and  wholesale trade.  However, only in May 2020, the trade sector showed  a growth of 33.3% after the April recession of 29.4%, with a volume  of 210.6 billion drams ($ 435 million).

ArmInfo. In January-May 2020, the production volumes of alcoholic beverages produced in Armenia demonstrate a downward trend. According to the RA Statistical Committee, during the reporting period, the volumes of absolutely all  alcoholic beverages produced in Armenia decreased.

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