News Armenia Allocates AMD 25 Million for HIV Anti-Retroviral Drugs
11:26 | October 10, 2018
The Armenian government today allocated AMD 25 million ($51,500) to obtain anti-retroviral drugs to
treat HIV patients.
News Vegetable Oil Factory to be Launched in Armenia; Export Deal Already Made
13:56 | October 8, 2018
With the support of Business Armenia and an investment of several million dollars, a new factory is to
be found in Armenia. The investment is made by the Ghalbourjian Group company aiming to start a
production of vegetable oils and other agricultural additives. In the first stage the firm is investing
News Unibank, to Collaborate with FMO to Allocate $10 Million to Women Entrepreneurs in Armenia
12:19 | September 26, 2018
We see here a business opportunity and potential for growth, which will help women entrepreneurs,
supporting growth and competitiveness in the local market.
News Armenian Parliament Elects Central Bank Board Member Tomorrow
13:18 | September 10, 2018
Martin Galstyan, the first director of the Dilijan International School, who’s worked at the bank for years
in various capacities, has been nominated a candidate for the post by the Republican Party of Armenia’s
News Armenia's North-South Highway; Mismanagement/Official Abuse Amounts to $48.7 Million in
12:48 | September 5, 2018
Armenia’s Prosecutor General’s Office has launched a criminal investigation of abuses and
mismanagement related to the North-South Road Corridor construction project that amount to AMD
23.553 billion ($48.7 million) in losses between 2009 and 2018.
News Armenia to Spend an Additional $1.1 Million on La Francophonie Summit
14:28 | August 16, 2018
Earlier this year, the government allocated AMD 1.4 billion to the Ministry of Foreign Affairs to
organize the summit.
News Government Starts Drafting 2019 Budget
17:19 | July 24, 2018
Prime Minister Nikol Pashinyan told officials at the budget meeting that attention must be paid on
increasing the effectiveness of state expenditures.
News Audit Nets Additional AMD 600 Million in Tax from Catherine Group Ltd.
15:06 | July 24, 2018
Catherine Group Company Ltd., a major fruit importer and distributor in Armenia, and three related
companies have paid AMD 600 million ($1.247m) in additional tax after government auditors found that
they had underreported revenues.
Articles Armenia’s Police Department Signs AMD 1.590 Billion in Contracts with Company Showing Only One
01:00 | July 22, 2018
The company in question, Ukrinvest LLC, only shows one employee on the books according to
information appearing on the Soldiers' Insurance Foundation website.
Articles The “Arzni” water plant has become a headache for “Anelik Bank” CJSC
16:30 | July 19, 2018
The “Arzni” waters plant in the Byureghavan community of the Kotayk Marz has become a headache
for “Anelik Bank” CJSC (now ID Bank, renamed after rebranding). The new shareholder of the bank
has suddenly found himself in a predicament where the sole hope for its resolution is the impartiality of
the new government and the judicial system.
News Spayka Freight Charged with AMD 2 Billion in Tax Evasion
13:21 | July 14, 2018
The SRC says that during 2015-201 company officials undervalued the revenues received from the sale
of tomatoes and other produce.
News Government Rejects Income Tax Rate Changes Proposed by Republican Party MPs
15:24 | July 10, 2018
Armenian Prime Minister Nikol Pashinyan has thrown cold water on a proposal submitted by two
Republican Party of Armenia MPs to set the income tax rate at 20% for those making more than AMD
500,000 a month, and 25% for those earning more than that.
News Economic Development Minister Meets with World Bank Delegation
14:27 | July 6, 2018
Armenian Minister of Economic Development and Investments Artzvik Minasyan today met with a
World Bank delegation led by Isfandyar Zaman Khan, the organization’s Financial and Private Sector
Development Sector Leader for Europe and Central Asia.
News Armenian Tax Authority Warns Businesses to Issue Sales Receipts
18:29 | June 29, 2018
The SRC, in a statement, says the new monitoring measures will particularly target small retail
businesses like eateries and natural gas stations along the country’s roadways
Articles Company Owned by Brother and Nephew of Serzh Sargsyan Charged with AMD 300 Million in Tax
18:29 | June 23, 2018
The SRC accuses the company of deliberately misrepresenting its business data to reduce its tax liability
and to support its bid for being declared bankrupt.
News Government Allocates AMD 177 Million to Keep Nairit Plant Chemicals Safe
12:34 | June 21, 2018
The Armenian government today allocated AMD 177 million ($367,200) to monitor the safety of
chemicals being stored at the defunct Nairit Plant in Yerevan.
Articles A Company Related to Yerevan Mayor Taron Margaryan Fraudulently Appropriated State Funds
13:43 | June 17, 2018
On June 14, Armenian Police issued a statement about twelve companies in Yerevan that fraudulently
appropriated funds from the state budget.
News Pashinyan Responds to Complaining Businesses: "Boycott the robbers and the corrupt"
22:59 | June 1, 2018
Eleven large business groups in Armenia, including the Yerevan City supermarket chain owned by MP
Aleksanyan’s family, and SAS Group, owned by MP Artak Sargsyan’s family, have signed an open letter
to Prime Minister Nikol Pashinyan asking for a meeting to discuss their concerns regarding the
government’s recent crackdown on tax and other business infractions.
News Former Armenian Ambassador to China Charged in Foreign Money Laundering Scheme
13:51 | May 26, 2018
Also charged with Azat Martirossian, 62, a citizen of Armenia, was Vitaly Leshkov, 50, a citizen of
News Armenia Signs €2.120 Million Contract with Company to Organize Francophonie Summit and Yerevan
2800th Anniversary Concert
10:43 | May 26, 2018
Armenia’s Ministry of Foreign Affairs signed a €2.120 million contract with Agence Publics, an
ESL&Network company, on April 14 to provide advice regarding the design and implementation of
events surrounding 2018 La Francophonie Summit, to be held in Armenia this October, and organizing a
concert to mark the 2,800th anniversary of Yerevan.