ArmInfo.

ArmInfo.The list of 1000 largest taxpayers in Armenia in Q1 2023 included 3 insurance  companies out of 6 operating ones. According to the data of the State  Revenue Committee, the list includes Liga Insurance,  Nairi  Insurance, and INGO Armenia.

ArmInfo.

ArmInfo.

ArmInfo.The Commission for Protection of Competition (CPC) of Armenia has banned the acquisition  of a 100% stake in MTS Armenia by Fedilco Group Limited.

ArmInfo. Prime Minister Nikol Pashinyan participated in the opening of "Transformation towards  sustainabality: Energy and Finance" high-level conference in Dilijan. The event was organized by the Economic Perspectives Foundation with the support of the Armenian government and the Central Bank. Former  president of the Central Bank Arthur Javadyan is the chairman of the Board of Trustees of the Foundation.

ArmInfo. The loss ratio of motor third-party liability insurance (MTPL insurance) was 62% in the first  quarter of 2023 against 69% in the first quarter of 2022, and 74% in the first quarter of 2019. The number of MTPL insurance contracts showed an increase from 15.9% to 17.8%, with a 12.8% increase in insurance premiums ($16.3mln) against 17.5% and a 6.7% increase in insurance indemnities (up to $10.7mln) against a 13.5% decrease. 

ArmInfo. As part of the EU4Business initiative the EU launched in Armenia in July 2021, the European Bank for Reconstruction and Development (EBRD) and Armenian  financial institutions signed EUR 30mln credit lines, Lilit Gharayan  Team Leader EU4Business- EBRD Credit Line Armenia, said at the forum  entitled "EU4Business-EBRD Credit Line in Armenia - Impact to date  and Way Ahead" on April 14.  

ArmInfo. On April 12, the fourth public hearings on the Environmental Impact Assessment (EIA) on the construction of the "Ayg-1" photovoltaic plant, a joint  project of the Armenian National Interests Fund (ANIF) and Masdar  Company from Abu Dhabi, UAE was held in Dashtadem and Talin  communities of the Aragatsotn region of Armenia. This is stated in  the message of theArmenian National Interests Fund (ANIF).

ArmInfo.MTS Armenia Telecommunications company will not be sold, the Public Services Regulatory Commission (PSRC) of Armenia intends to reject the  company's application for permission to conclude a transaction to  transfer control over the communications operator.

ArmInfo. RA Prime Minister Nikol Pashinyan received a delegation led by U.S. Department of Commerce Assistant Secretary for Global Markets Arun Venkataraman.

ArmInfo.By banning the import of dairy products from Armenia, Russia in the form of "demo sanctions" is trying to demonstrate what can happen to the RA economy. Haykaz  Fanyan, director of the Modex consulting company, shares this opinion.

ArmInfo.

ArmInfo. The application for the transaction for the sale of the "MTS Armenia" telecommunications company is under consideration. Garegin Baghramyan, Chairman of the RA Public Services Regulatory Commission, stated this to journalists on March 30.

ArmInfo. Russian resettlers, whose number in Armenia, according to various sources, is estimated from 80 to 100 thousand people, not only contributed to high "statistical" economic growth and low "estimated" inflation in the country, but also made it possible to significantly strengthen the resources of the Armenian banking system.  However, Armenia, having benefited from both people and capital, has appeared under the powerful sanctions lens of the Western countries, which is seriously concerned about the possibility of circumvention of anti-Russian sanctions by countries friendly or neutral to Russia. Armenian banks were immediately warned that they must strictly follow the international regulations against the legalization of proceeds from crime (money laundering) and put up serious barriers to clients' attempts to circumvent anti-Russian sanctions in the course of trading activities.  By and large, by March last year, Armenian banks were not ready for such a turn, and therefore they began to actively implement the so-called compliance control and its tough “barrier” tools.

ArmInfo.

ArmInfo. The blockade of Artsakh by Azerbaijan causes great damage to the economy of the republic: the total financial and economic losses amount to at least 753 million drams or $1.9 million (395.5 dras per $) per day. This was stated by the former minister of finance of Armenia, international consultant on public finance management Vardan Aramyan, on March 29 in Yerevan, presenting a report "On the assessment of the losses of the economy of Artsakh due to the blockade", prepared by a group of economists commissioned by the government of the Republic of Artsakh and former state minister Ruben Vardanyan.

ArmInfo. The U.S. is interested in developing cooperation with Armenia in the technological field.  This was stated during the meeting of the Minister of High-Tech Industry of Armenia Robert Khachatryan with Ambassador Extraordinary and Plenipotentiary of the United States to Armenia, Mrs. Kristina Alyson Kvien.

ArmInfo.The American Chamber of Commerce in Armenia (AmCham), in cooperation with the member-companies, is introducing new standards into Armenia's  business culture, Armenia's Minister of Economy Vahan Kerobyan stated  at an AmCham-hosted meeting. 

ArmInfo.The cost and capital expenditures of the Dry Port project exceed $100 million, Charle Malas, project lead and advisor to Economy Minister Vahan Kerobyan,  told Civil.net.