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  • Archive for March, 2014

    Russian economic report 31: confidence crisis exposes economic weakness

    Thursday, March 27th, 2014

    Russia’s economy is navigating an economic downturn with real GDP growth slowing to an estimated 1.3 percent in 2013 from 3.4 percent of 2012

    Transition to Basel III to be smooth for Armenian banks

    Thursday, March 27th, 2014

    Exclusive interview of the Head of Financial System Regulation Department at the Central Bank of Armenia Mher Abrahamyan to ARKA Agency. ARKA – Mr Abrahamyan, the transition to Basel III principles for Armenian banks is scheduled for 2014. What are the measures foreseen as part of introduction of Basel III requirements in Armenia’s banking system, […]

    Market exchange rate of USD against Armenian dram drops by 1.03 percentage points to 412.35 drams

    Wednesday, March 26th, 2014

    The average market exchange rate of USD against Armenian dram has dropped today by 1.03 percentage points from March 25 to 412.35 drams, the Central Bank reported

    Armenian Central Bank chairman off to Beijing to sign cooperation agreement

    Wednesday, March 26th, 2014

    Arthur Javadyan, the chairman of Armenia’s Central Bank has left for China to discuss in Beijing cooperation between the regulators of the two countries with the chairman of the National Bank of China Zhou Xiaochuan

    Bank VTB (Armenia) launches factoring services for South Caucasus Railway customers

    Wednesday, March 26th, 2014

    Bank VTB (Armenia) started financing as part of factoring services agreement with the South Caucasus Railway, the bank’s press office reported

    Central Bank of Armenia board keeps key rate at 7.5%.

    Tuesday, March 25th, 2014

    The Central Bank of Armenia Board said today it has decided to keep its key refinancing rate at 7.5%

    Average market exchange rate of U.S. dollar against dram falls by 0.90 percentage points to 413.38 drams – Central Bank

    Tuesday, March 25th, 2014

    The average market exchange rate of U.S. dollar against the Armenian dram fell by 0.90 percentage points today from March 24 to 413.38 drams, the Central Bank said

    Anelik Bank launches two new types of collateral loans

    Tuesday, March 25th, 2014

    Anelik Bank has announced today two new, ‘flexible’ types of collateral loans ‘Gold Plus” and “Gold-Secured,” designed specifically for customers who wish fast and affordable solutions to their financial problems

    Nikolay Hovhanessyan appointed as acting CEO of ACBA- CREDIT AGRICOLE BANK

    Tuesday, March 25th, 2014

    ACBA- CREDIT AGRICOLE BANK Board has appointed today Nikolay Hovhanessyan as Acting Chief Executive Officer of the bank. The previous CEO, Stepan Gishyan, died on March 22 at the age of 49

    IMF expects Armenian government’s budget deficit in 2014 to make over 2% of GDP

    Monday, March 24th, 2014

    The International Monetary Fund (MF) expects Armenian government’s budget deficit in 2014 to make a little over 2% of GDP, which will be an important stimulus for economic growth, according to head of IMF Armenia Mission Mark Horton