ArmInfo.

ArmInfo.Armenia's Minister of Economy Arman Khojoyan held a meeting with Ms Carolin Geginat, Country Manager of the World Bank (WB) for Armenia. 

ArmInfo.Armenian FM Ararat Mirzoyan held a meeting on May 14 with Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation of the United Arab Emirates (UAE) 

ArmInfo. The World Bank will provide Armenia with a loan of 26.5 million euros to improve the public administration system. On May 13, the Government of Armenia approved the draft law of the Republic of Armenia on the ratification of the  loan agreement of the "Fourth Public Sector Modernization Program  between the International Bank for Reconstruction and Development  (the main lending institution of the WB - ed. note) and the Republic  of Armenia".

ArmInfo. The level of profitability of the Armenian banking system is quite low. This  assessment of the UBA was announced on May 13 at a press conference  by the Executive Director of the Union of Banks of Armenia Seyran  Sargsyan, explaining that the level of profitability of the banking  system is determined by such efficiency ratios as return on equity  (ROE) and return on assets (ROA).

ArmInfo.A multifunctional business complex with unique architectural solutions will be built in Yerevan. The RA Cabinet of Ministers approved the corresponding investment  program presented by Suren and Hasmik Pahlevanyan on May 13.   According to the explanation to the document, the investors presented  an investment program worth 10 million US dollars, which will be  implemented on the territory of the Dzoragyugh ethnographic district,  Kentron administrative community of Yerevan.

ArmInfo.Converse Bank bonds are now also available via our mobile application. Here, in a matter of minutes you can complete the entire purchasing process of the bonds from opening a security account to signing the contract. Full information on bonds placement is also available on the app.

ArmInfo.In Q1 2022, the inflow of transfers from individuals to Armenia increased by 38.2% per annum or by $155 million, reaching $561 million, Deputy Executive Director  of the Union of Banks of Armenia Arman Sargsyan said during a press  conference on May 13.

ArmInfo. The deposits of the banking system of Armenia for the first quarter decreased by 1% or by 42 billion drams, amounting to 3.98 trillion drams. Executive  director of the Union of Banks of Armenia (UBA) Seyran Sargsyan  announced this during a press conference on May 13, while noting that  in y-o-y terms, deposits increased by 7.6% or 281 billion drams.

ArmInfo. The volumes of lending to the Armenia's economy in Q1 2022 have grown in almost all areas. Executive director of the Union of Banks of Armenia (UBA) Seyran  Sargsyan announced on May 13 during a press conference.

ArmInfo. Team Telecom Armenia, one of Armenia's leading telecommunication companies, will start constructing its business data center this year, Hayk Yesayan, CEO, told ArmInfo.

ArmInfo. Armenia's authorities are proposing a discount system in cashless transactions for pensioners, Premier Nikol Pashinyan stated on Friday.  

ArmInfo.Armenia's Cabinet has approved a decision on the allocation of AMD 4.75bln ($10mln) for renovation of a number of roads and preparation for design work and for technical  control services.  

ArmInfo.The volume of cargo transportation in Armenia in Q1 2022 accelerated the y-o-y growth to 14.7% from 9.1% a year earlier, amounting to 3,662.2 thousand tons.   Of this volume, 62.3% or 2,281.7 thousand tons is accounted for by  road transport, the annual growth rate of which accelerated from  17.5% to 21.9%. This is evidenced by the data of the RA Statistical  Committee.

ArmInfo. The Armenian "Meghri" and the Iranian "Aras" FEZs signed a memorandum of understanding, which provides for unhindered access for Iranian investors working in  the "Aras" FEZ in the "Meghri" FEZ, and for Armenian businessmen  simplified access to the Iranian market. This became known following  the results of the Armenian-Iranian business forum, held within the  framework of the 17th meeting of the Armenian-Iranian  intergovernmental commission. 

ArmInfo. Armenia's communications sector revenue in Q1 2022 reached 6.8% growth from 2.4% decline a year earlier, exceeding 36 billion drams. At the same  time, the upward trend of the dominant (91.8%) telecommunications  sector accelerated the pace from 0.3% to 7.1%, with a revenue of 33  billion drams. This is evidenced by the data of the RA Statistical  Committee.

ArmInfo. In Q1 2022, Armenia reduced wine production by 40.5%, providing a volume of 1,555.4 thousand liters, while a year earlier, in the same period, an  increase of 39.7% was recorded. This is evidenced by the data of the  RA Statistical Committee.

ArmInfo.RA Prime Minister Nikol Pashinyan received Deputy Prime Minister of the Russian Federation Alexei Overchuk and Russian Deputy Foreign Minister Andrey Rudenko. Deputy Prime Minister of Armenia Mher Grigoryan also took part in the  meeting.

ArmInfo.In Q1 2022, 249,361 tourists visited Armenia, which is 2.9-fold higher than a year ago (against a decline of 71.9% in 2021). Despite the resumption of the  tourist flow after the removal of COVID restrictions, Armenia has not  yet managed to reach the figure recorded before the outbreak of the  coronavirus pandemic - 311,264 tourists in Q1 2020. This is evidenced  by the data of the Statistical Committee.

ArmInfo.For the 4^th year in a row, ARMSWISSBANK has been awarded “The Most Active Issuing Bank in Armenia”  during the Annual Meeting of the European Bank for Reconstruction and Development (EBRD) which took place May 10-12, 2022 in Marrakesh, the Morocco.