Bank of Cyprus completes sale of its 100% stake in Uniastrum to Artem Avetisyan
28.09.2015 18:20
YEREVAN, September 28. / ARKA /. Russian business daily ‘Kommersant’ said the Bank of Cyprus has completed the sale of its 100% stake in its Russian subsidiary – Uniastrum - to Artem Avetisyan (ethnic Armenian businessman, based in Russia), for 7 million euros.
The decision to sell its Russian operations, announced in July, is part of the Bank of Cyprus’s strategy of focusing on core businesses and markets but “does not affect the Bank’s presence in Russia through its two representative offices in Moscow and St. Petersburg,” reads an announcement issued by the Bank on Monday.
“With the disposal of this major overseas banking subsidiary, the Group has reached another milestone in its deleveraging and de-risking strategy, and has eliminated future potential risks relating to its Russian banking operations, including any liquidity risks,” the announcement continues.
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Bank of Russia predicts 10% slowdown in consumer lending
22.09.2015 17:28
The Russian Central Bank predicts a 10% slowdown in consumer lending by the end of 2015, the Russian Central Bank Director of the Financial Stability Sergey Moiseev said Tuesday, Prime reported
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Bank of Russia leaves key interest rate unchanged at 11%
11.09.2015 17:09
The Bank of Russia left the key interest rate unchanged Friday at 11%, citing ruble-driven inflationary risks, and said that its further rate decisions will depend on the risks of inflation and cooling of the economy
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Armenia will not benefit if Russian gas is paid in rubles- Gazprom Armenia CEO says
08.09.2015 18:21
Armenia will not benefit if deliveries of Russian gas are paid in Russian rubles, Armenia’s national Russian-owned natural gas network, Gazprom Armenia CEO Vardan Harutyunyan said in an interview with Gos Armenii (Voice of Armenia) Russian-language semi-weekly
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Time has not come to down Central Bank key rate - VTB head
04.09.2015 15:48
Andrey Kostin, the CEO of Russia’s VTB bank, was quoted Friday by Prime as saying that the central bank’s key rate may be lowered before the end of this year, but it is not the best moment now for doing that
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Economist: Armenian dram devaluation inevitable
27.08.2015 20:09
Armenia’s national currency will inevitably go down against the US dollar, Vardan Bostanjyan, an economist, told journalists on Thursday
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Private remittances to Armenia slash by 30.5% to about $ 537.1 million
18.08.2015 20:09
Private remittances sent to Armenia mostly by labor migrants in the first six months of 2015 for non-commercial purposes slashed further by 30.5% from the year earlier to about $ 537.1 million, according to the Central Bank’s monthly bulletin for June 2015
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Russia’s GDP drop may amount to 4 percent, economist says
18.08.2015 19:27
A Kremlin’s economic advisor Andrei Belousov said Russia’s gross domestic product (GDP) could drop by 4% this year, far more than expected by the government
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Emerging-market stocks fell to lowest level since October 2011- Bloomberg
17.08.2015 19:43
Emerging-market stocks fell to the lowest level since October 2011, extending last week’s losses, and currencies slid as investors speculated that capital outflows will accelerate, Interfax reported citing Bloomberg. It said Russia’s ruble tumbled with oil prices
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Yuan devaluation to have adverse impact on Russian and Armenian economies - economist
14.08.2015 20:04
The current devaluation of the yuan will have adverse impacts on Russia’s economy and, as consequence, also on Armenia’s economy, Vardan Bostanjyan, an economist
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