Armenia again cuts interest rates amid low inflation, high growth: THIS WEEK...
Armenia’s new economy minister insisted there is no systemic corruption within his agency and pledged his priority would be to diversify the country’s trade ties. Armenia’s Central Bank this week cut...
View ArticleArmenian national airline’s license suspended as financial issues mount: THIS...
The Armenian government temporarily suspended the national airline’s operating license, moving the troubled carrier one step closer to permanent closure. Almost all banks in Armenia have moved to...
View ArticleModernization efforts at Armenia’s nuclear power plant ramp up: THIS WEEK IN...
The Armenian government will pay nearly $3 million to the French company that runs the country’s water distribution network to keep consumer costs low for the rest of the year. The head of Armenia’s...
View ArticleArmenia’s Central Bank greenlights Ameriabank sale: THIS WEEK IN BUSINESS
Armenia’s monetary authorities gave their “preliminary approval” to the sale of Ameriabank, one of the country’s largest lenders, to the Bank of Georgia Group. Operations at Amulsar, a long-stalled...
View ArticlePashinyan calls on Russia to invest more in Armenia: THIS WEEK IN BUSINESS
The United Kingdom-based Bank of Georgia Group finalized its $303.6 million acquisition of Ameriabank, one of Armenia’s largest lenders. Armenia is in talks with Russia to encourage more investment in...
View Article“Armenia Could Become a World Engineering Hub”
Vahe Nigoghosian is the founder of Engineer X, a multi-disciplinary engineering firm based in Armenia that focuses on business and education. Vahe brought with him the branch of the Dassault Systemes,...
View ArticleArmenia taps local developer for World Trade Center Yerevan: THIS WEEK IN...
Armenia’s Central Bank this week cut interest rates to 8.25%, as inflation in the country continues to remain well below target levels and the economy continues to grow. The Armenian government...
View ArticleArmenia considering raising taxes on small businesses: THIS WEEK IN BUSINESS
Armenia’s cabinet proposed doubling taxes on small businesses in the country, saying the move is needed to boost transparency and simplify the tax administration system. It remains unclear when...
View ArticleArmenia takes $256M loan for major road project: THIS WEEK IN BUSINESS
The European Bank for Reconstruction and Development agreed to loan Armenia more than $256 million for a major road project in the country’s southernmost Syunik region. Stock prices of the Bank of...
View ArticleIndia ‘waiting for proposals’ from Armenia on joining Iran port project: THIS...
Armenia’s gross domestic product expanded by 9.2% in the first quarter of the year. India said it is ready to consider offers from Armenia on joining a key port project in Iran, just days after New...
View ArticleArmenia’s national debt rises to $12 billion: THIS WEEK IN BUSINESS
Armenia’s national debt surpassed $12 billion, rising by 1.9% since the beginning of the year. The country’s debt-to-GDP ratio now stands at 48.1%. Prime Minister Nikol Pashinyan’s cabinet dissolved...
View ArticleArmenia renews call for regional energy market: THIS WEEK IN BUSINESS
Armenia renewed its call for the Eurasian Economic Union to form an integrated energy market, a prospect opposed by Russia and other energy-rich members of the trade bloc. Prosecutors dropped charges...
View ArticleDigital transformation: How IT talent can thrive with Ameriabank
Davit Hovhannisyan, chief information officer at Ameriabank, sits down with CivilNet’s Mark Dovich to talk about his decision to repatriate to Armenia and continue his career at one of Armenia’s...
View ArticleArmenia silent as Russia says working to restore Mir payment card services:...
Armenia’s Central Bank this week cut interest rates by 25 basis points to 8%, as inflation continues to remain well below target levels. The Central Bank neither confirmed nor denied that Russia is...
View ArticleUp to Armenia to decide to leave Russian military alliance, Washington says
Armenia signed a contract to purchase offensive CAESAR artillery systems from France in a “new important milestone.” The US considers its strategic partnership with Armenia to be very important and...
View ArticleGovernment takeover of stake in Amulsar gold mine delayed: THIS WEEK IN BUSINESS
UATE, an Armenia-based organization representing more than 150 tech companies, warned law enforcement’s raid on the taxi company GG is fueling concern for foreign investors. The Armenian government...
View ArticleArmenia’s EU bid ‘not very likely,’ finance minister tells CivilNet: THIS...
Armenia’s finance minister poured cold water on the country’s potential to join the European Union, telling CivilNet his agency is not currently planning for that scenario. Interview with Armenia’s...
View ArticleArmenia’s economy at a crossroads
Léa Hakim, senior country economist for Armenia at the World Bank, sits down with CivilNet’s Mark Dovich to present her team’s new assessment of Armenia’s economy. They discuss why Armenia lags behind...
View ArticleArmenia pitches ‘dry port’ project to UAE amid search for investors: THIS...
Armenia pitched plans to set up a large industrial park and special economic zone in Gyumri to the United Arab Emirates as a search for foreign investors continues. Interview with the World Bank’s Léa...
View ArticleBringing tech startups to life at Armenia’s Sevan Startup Summit
Hundreds of startuppers gathered last week to network and pitch their solutions to 21st century problems at a camp on the shore of Armenia’s Lake Sevan. As the largest such gathering in the region,...
View Article