ArmInfo. IDBank regularly speaks about the advantages that privileged service customers enjoy. They are progressively expanding and adapting to international standards. We discussed this with Lida Safaryan, Head of Premium Banking Services, Commercial Director and Vice President of IDBank.

ArmInfo. A series of agricultural initiatives are set to launch this year as part of the Sustainable Inclusive Growth in Mountainous Armenia (SIGMA) project. The line-up includes an educational, scientific, and industrial beekeeping centre in the Lori region, a seed cleaning and treatment centre for cereals and legumes, and a cold storage facility in Gegharkunik. The SIGMA project is funded by the Swiss Agency for Development and Cooperation (SDC). It is implemented by DAI Global UK (DAI) and its branch in Armenia, in cooperation with AMPERA Consulting Company as a local partner. SIGMA aims to reduce poverty and inequality in the mountainous settlements of Armenia through inclusive, innovative, and environmentally friendly approaches. The project partners with private companies to co-invest in the development of agriculture and rural tourism in Armenia.

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ArmInfo. Armenia will take part in the 7th China International Import Expo 2024 - CIIE, which will be held from November 5 to 10 in Shanghai. The exhibition is held to promote the sustainable development of small and medium businesses. This is stated in a statement by the Armenian Ministry of Economy.

ArmInfo. So far, two companies have become beneficiaries of the state program to promote the issue of equity (shares) and debt (bonds) securities, as well as passing credit ratings. By the end of 2024, 2-3 more participants may join them. Hasmik Zakaryan, Head of the Department for the Development of Financial Infrastructures of the RA Ministry of Economy, spoke with an ArmInfo about the terms of the state program to promote the development of the capital market, as well as its prospects.

ArmInfo. The international Fitch  Ratings agency affirmed Armenia's long-term foreign currency issuer  Default Rating (IDR) in foreign currency at "BB" with a stable  outlook.  This is stated in a report on the agency's website.   Continued High Growth: Economic growth continues to benefit from  spill-overs from strong inward migration from Russia, Belarus,  Ukraine and now Nagorno-Karabakh. Real GDP grew 8.7% in 2023 and  remained strong at 9.2% yoy in 1Q24. The tourism and information and  communication technology sectors are expected to be important drivers  of growth, while commencement of the Amulsar gold mine's operations  from 2025 will be positive for exports and growth. Fitch expects  growth to reach 6% in 2024, 5.5% in 2025 and 5.1% in 2026.

ArmInfo. USD and EUR transactions  decreased, while RUB transactions showed a growth, in Armenian  interbank foreign exchange market from July 22 to 26. Moreover, three  USD, one EUR and four RUB transactions  were effected during the  period under review. 

ArmInfo.Traveling starts with detailed planning, and in the case of some countries, with obtaining a visa. Many people know the tedious side of paperwork.

ArmInfo.How to spend less and save more? This question troubles many - both ordinary human beings and the tycoons who have accumulated crazy wealth, because everyone wants to live better and have more money, even if they don't recognize it.

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ArmInfo. Ameriabank continues  to lead among other Armenian banks in a row. According to the data of  the State Revenue Committee, in the first half of 2024, Ameriabank  ranked 6th (versus 4th a year earlier), having paid 17.5 billion AMD  to the state budget, of which 16.5 billion AMD were direct taxes  (including profit tax, income tax).

ArmInfo. The annual campsite  business forum Sevan Startup summit once again gathered investors,  mentors and representatives of innovative startups from around the  world.

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ArmInfo. Euromoney, a leading international financial publication, has named Ameriabank the Best Bank of Armenia in its Awards for Excellence 2024 ceremony in London. This marks the 10th time that Ameriabank has received this prestigious honor since 2011. In addition to the main Award, Ameriabank also received Awards for Excellence as the Best Digital Bank and the Best Bank for SMEs for 2024. These annual awards recognize the performance of banks, digital banking solutions, strategic initiatives, and other achievements across the financial industry from over 100 countries.

ArmInfo. The European Bank for Reconstruction and Development (EBRD) and Ameriabank have signed an agreement enabling Ameriabank to attract trade finance funding from the EBRD in Armenian Drams. This is the first and so far the only agreement of this kind signed by EBRD to date in Armenia. This collaboration aims to enhance Ameriabank's capacity to support local businesses engaged in international trade by ensuring access to stable and localized funding solutions.

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ArmInfo. Zangezur Copper and  Molybdenum Plant (ZCMP) topped the list of 1000 large taxpayers of  Armenia based on the results of the first half of 2024, holding the  lead for the third year in a row. This is evidenced by the data of  the State Revenue Committee of the Republic of Armenia.

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