Economy
By How Much Has The Central Bank Reduced the Refinancing Rate?
On December 10, the Board of the Central Bank of Armenia decided to lower the refinancing rate by 0.25 percentage points, setting it at 7.00%. Additionally, the lombard repo rate was set at 8.50%, and the deposit rate at 5.50%.…
1359 Armenian Trucks Stuck at Upper Lars Due to Weather Conditions
Approximately 1,400 Armenian trucks are currently stranded near the Upper Lars checkpoint on the Russia-Georgia border. According to the Road Traffic Management Center of North Ossetia, the Mtskheta-Stepantsminda-Lars international highway remains open to all vehicles. However, adverse weather conditions, including…
Armenia Welcomes 1.9 Million Tourists in 10 Months: Tourism Growth and 2025 Prospects
Armenia’s tourism sector recorded 1,926,405 visits during January-October 2024, a 5.8% decrease compared to the same period in 2023, when 2,045,282 visits were registered. However, compared to pre-pandemic 2019 figures, the sector experienced a 15% growth, underlining a strong rebound…
Exchange Rates and Global Commodity Prices: December 7 Insights
The financial and commodity market updates for December 7 reveal critical trends for Armenia’s economy and global markets. According to the Central Bank of Armenia, USD is traded at 391.69 AMD for buying and 401.36 AMD for selling, while exchange…
Gold, Oil, and Currency Rates: Latest Updates from NYMEX and Global Markets
Gold prices on the NYMEX exchange dropped by 0.33% during the December 5 trading session, settling at $2664.10 per troy ounce. Meanwhile, silver saw an increase of 0.28%, reaching $31.89, and platinum rose by 0.16%, trading at $951.80. These fluctuations…
XRP Skyrockets 400%: Ripple’s Legal Victory and Institutional Momentum
XRP, the cryptocurrency developed by Ripple Labs, has taken the market by storm, reaching $2.50 on December 2, 2024, its highest price in six years. This rally, marked by six consecutive days of gains, has pushed XRP to the third-largest…
Bitcoin Hits Historic $100,000: How and Why?
Crypto markets roared to life early Thursday as bitcoin surged past the $100,000 milestone for the first time, fueled by the announcement that president-elect Donald Trump would nominate Paul Atkins, a crypto-friendly candidate, to lead the SEC. The news sent…
Mongolia Opens Its Market to Armenia: New Export Opportunities
Mongolia has officially opened its market to Armenia through a temporary trade agreement between the Eurasian Economic Union (EAEU) and Mongolia. On December 5, Armenia’s government approved the agreement, which aims to significantly reduce customs duties and boost export volumes.…
Bitcoin Surpasses $100,000: A Milestone in Cryptocurrency History
Bitcoin has achieved a groundbreaking milestone, surpassing $100,000 per coin and reaching an all-time high of $102,700. This historic event cements Bitcoin’s status as a transformative force in the financial world. What began as a niche concept over a decade…
CALLUM Brings Jaguar C-X75 Concept to Life
The Jaguar C-X75 concept, long admired for its unfulfilled potential, has been brought to life by the design company CALLUM, co-founded by Ian Callum, the former Director of Design at Jaguar. This bespoke version of the C-X75 builds on the…
Over 1,000 Armenian Trucks Stuck at Upper Lars Checkpoint
Over 1,000 Armenian trucks are currently stuck at the Upper Lars checkpoint on the Russia-Georgia border. According to the Traffic Management Center of North Ossetia, a total of 3,608 vehicles are currently queued to cross the checkpoint, of which 1,057…
Smart #3 Test Drive: Stylish and Competitive in the EV Market
The Smart #3 is a bold move from its origins in compact city cars, stepping confidently into the electric crossover market. With sleek design, modern features, and a spacious interior, it stands as a solid contender for families seeking a…
Black Friday 2024 Hits Record $74.4B in Global Online Sales, Fueled by Discounts and Mobile Shopping
Black Friday 2024 has shattered records once again, with global online sales reaching $74.4 billion, a 5% increase compared to last year, according to Salesforce. U.S. consumers also contributed significantly to this milestone, spending between $10.8 billion (Adobe estimate) and…
Drinking Water Tariffs to Remain Unchanged in 2025: Insights from the PSRC
The decision by the Public Services Regulatory Commission (PSRC) to keep drinking water tariffs unchanged for 2025 has implications for consumers, utility management, and public policy. The recalculation of additional water volumes (+438,387 cubic meters) slightly reduced the overall tariff…
Armenia’s Economic Activity Growth in October: 4.2% Increase Year-on-Year
The recently published Economic Activity Index (EAI) data for October shows a year-on-year increase of 4.2% compared to the same month last year, though it has experienced a 4.6% drop compared to the previous month. This fluctuation highlights seasonal factors…