ArmInfo.

ArmInfo.The Union of Manufacturers and Businessmen of Armenia and the China Foreign Trade Center have signed a cooperation agreement in the economic sector.

ArmInfo.Converse Bank has recapped the results of the special promotion run in collaboration with Mastercard.As a prize Converse Bank offered to its 20 most active Mastercard holders who would make purchases from 1^st September until 30^th November including, a three-day family holiday gift card to be used in Armenia (for 2 adults and 2 kids) and the rest of the participants of the special promotion were offered a cashback up to 30,000 AMD.

ArmInfo.The banking system of Armenia in Q1 2022 increased tax deductions to the state treasury by 4.5% per annum - up to 12.8 billion drams ($26.3 million), against a  decrease of 3.2% a year earlier in the same period. 77.2% or 10.6  billion drams of this amount was paid in direct taxes, with a y-o-y  increase of 8.2% (against a 12.5% decline a year earlier).

ArmInfo. The Eurasian Economic Commission (EEC) forecasts an increase of up to 85% and more in the share of settlements in national currencies in mutual trade between  the countries of the Eurasian Economic Union (EAEU) by the end of  2022. Official representative of the EEC, Iya Malkina, announced this  on April 20 at a briefing.

ArmInfo. Prime Minister of the Russian Federation Mikhail Mishustin at a meeting with his counterpart from Armenia Nikol Pashinyan noted that in the context of  sanctions, it is important to actively use national currencies in  trade, expand industrial cooperation and open up new opportunities  for trade.

ArmInfo. In the first quarter of 2022, the Zangezur Copper-Molybdenum Combine, managed by the GeoProMining Group of Companies, increased tax entries to the state budget of Armenia, as compared to the same period of last year, by 3.6 times, up to 35.5 billion drams. This is evidenced by the list of 1000 largest taxpayers in Armenia, published by the State Revenue Committee of the Republic. Thus, ZCMC topped the list of taxpayers in the country.

ArmInfo.Russian Vice-Premier Alexey Overchuk hosted his Armenian counterpart Mher Grigoryan. 

ArmInfo. In the first quarter of 2022, the Armenian insurance sector's tax payment a total of AMD 667.7mln - a 35.3% year-on-year increase. Of this amount, direct  taxes totaled AMD 574.2mln (85.9%) - a 37% year-on-year increase. 

ArmInfo.Below is a joint statement by RF President Vladimir Putin and RA Prime Minister Nikol Pashinyan on the results of their meeting in Novo-Ogaryovo.  At the  invitation of the President of the Russian Federation V.V. Putin, on  April 19-20, 2022, the Prime Minister of the Republic of Armenia N.V.  Pashinyan paid an official visit to the Russian Federation.

ArmInfo.The four telecom operators of Armenia in Q12022 reduced tax payments to the state treasury by 4% per annum - to 7.1 billion drams. In particular, 92.4  million drams were paid on customs duties during the reporting  period, 1.6 billion drams on direct taxes (including profit tax,  income tax), and 3.3 billion drams on indirect taxes (including VAT,  excise tax). This is evidenced by the list of the largest 1000  taxpayers in Armenia published by the State Revenue Committee of the  Republic of Armenia.

ArmInfo.According to the results of Q1 2022, the list of 1000 large taxpayers in Armenia was headed by the Zangezur Copper-Molybdenum Combine (ZCMC), which paid 35.4 billion drams to the state treasury (with a 3.6-fold y-o-y  growth), of which 402.7 million drams - on customs duties, 13.4  billion drams - on direct taxes (including profit tax, income tax),  594.1 million drams - on VAT. A year earlier, ZCMC held the 3rd  place. This is evidenced by the published data of the RA State  Revenue Committee.

ArmInfo.Iranian Deputy Transport and Urban Development Minister Kheirollah Khademi  at a meeting with RA Ambassador to Iran Arsen Avagyan expressed the  readiness of the Iranian side to cooperate with Armenia in the export  of technical and engineering services to complete a new communication  corridor between the two countries.

ArmInfo.Following the results of 2021, Armenia entered the TOP-5 export partners of the Republic of Crimea. On April 19 during the Crimea-Armenia-Belarus video bridge,  Irina Kiviko, Deputy Chairman of the Council of Ministers of the   Republic of Crimea - Minister of Finance of the Republic of Crimea   announced.

ArmInfo.

ArmInfo.The Armenian economy in 2022 may record regression, despite the indicator set in the y-o-y budget at the level of 7%. This is stated in the report of the  analytical group of the Luys Foundation entitled "On the verge of a  new crisis. Possible impact of sanctions against Russia on the  economy of Armenia."

ArmInfo.On April 21, 2022, AraratBank OJSC will issue the first USD-denominated tranche in 2022 on the following terms:

ArmInfo.At the end of March, inflation in Armenia rose significantly to 7.4%, next month we are likely to see higher inflation again as food and energy prices rise.   Armenian Economy Minister Vahan Kerobyan stated this in an interview  with "Kommersant".

ArmInfo.Converse Bank has started the placement of nominal coupon bonds totaling 2 billion AMD and 10,000,000 USD. The coupon yield of the bond is 10% and 4% respectively, the coupon payment frequency is semi-annual.

ArmInfo. On April 21, Araratbank will start selling another tranche of $ 5 million dollar bonds, and the primary placement of this issue is scheduled to be completed no  later than July 21. This is noted in the issue prospectus posted on  the website of the Central Bank of Armenia.