Economy
Rising Fuel Costs at Armenian-Iranian Customs: A Cross-Border Trade Challenge
The recent surge in fuel prices at Iranian customs for vehicles with foreign license plates, including Armenian cargo trucks, underscores the complexities of cross-border trade and regulatory enforcement. The situation, which has led to driver protests near the “Agarak” customs…
Currency Exchange Rates for November 22, 2024: USD, EUR, GBP, and More
The published exchange rates for November 22, 2024, reflect the daily fluctuations in the global currency market, emphasizing the dynamics of Armenia’s economic interactions with international currencies. These rates serve as crucial indicators for businesses, travelers, and financial analysts operating…
Oil, Precious Metals, and Stock Indices Rise on November 22
Oil Markets On November 22, oil prices experienced growth: WTI (NYMEX): Up 1.22% to $71.18 per barrel. Brent (ICE): Up 1.02% to $75.17 per barrel. The price increase reflects recovering global demand and supply constraints. Precious Metals: Precious metals also…
New Rules for Duty-Free Shop Ownership in Armenia: will there be transparency?
The Armenian government introduced a new regulatory framework on November 21 to revamp the process for registering and operating duty-free shops. The decision outlines a prequalification system that requires entities aspiring to own and operate duty-free shops to meet strict…
Import of Live Pigs to Armenia to Be Restricted for Six Months
The Armenian government, during its November 21 session, approved a temporary quantitative restriction on the import of live pigs to Armenia and established new import procedures. According to the decision, a six-month limit will be imposed on the import of…
Regulated and Controlled Trading System Introduced for Agricultural Animal Markets
The Armenian government, during its November 21 session, approved new requirements for agricultural animal markets to establish a regulated and controlled trading process. Key Details Current Issues Until now, the sale of agricultural animals has been conducted without legal regulation.…
Armenia to Launch New Export Promotion Program via Customs Duty Reimbursement
The Armenian government has introduced a new customs duty reimbursement program aimed at promoting exports. This initiative seeks to boost the export volume of Armenian products and strengthen their presence in international markets. Mechanism of Customs Duty Reimbursement Exporting companies…
Best Business Ideas for 2025
The year 2025 promises to be an era of innovation, sustainable development, and growth in the digital economy. Here are some of the best business ideas you can start from scratch, with details on the minimum and maximum investment required…
SKY Express Launches New Route Between Athens and Yerevan
Greek airline SKY Express has launched a new route connecting Athens and Yerevan, strengthening ties between Greece and Armenia. Flights from Athens International Airport to Zvartnots International Airport will operate three times a week, on Wednesdays, Fridays, and Sundays. Sergey…
Icy Patches on Aghvani-Tatev Road, Lars Open
The Rescue Service of Armenia has announced that most roads in the country are passable; however, icy patches have been reported on the Aghvani-Tatev road. Drivers are urged to exercise caution and drive carefully, especially in areas with icy conditions.…
Currency Exchange Rates as of November 17
As of November 17 the latest currency exchange rates for cash transactions in Armenia. US Dollar (USD): Maximum buying rate: 388 AMD Minimum selling rate: 390 AMD Euro (EUR): Maximum buying rate: 409 AMD Minimum selling rate: 414 AMD Russian…
Dollar Rate Stable; Euro Drops by Around 4 Drams
Today, November 14, the USD exchange rate stands at 387.64 AMD, showing a decrease of 0.01 AMD from the previous day, according to the official website of the Central Bank. The exchange rate for the euro is 407.41 AMD (down…
Armenia’s tourism growth relies on neighboring countries
The Armenian Tourism Committee has reported that 203,810 tourists visited Armenia in October 2024, an increase of 8,000 compared to the same period last year. However, this apparent growth is mostly attributed to neighboring countries, namely Russia, Georgia, and Iran,…
Exchange Rates as of November 13
We present the exchange rates for foreign currencies bought and sold by Armenian banks as of November 13, according to rate.am. The U.S. dollar is purchased at an average rate of 385.13 AMD and sold at 390 AMD. The euro…
What are the risks to China’s modernization and energy projects of Armenian NPP?
China’s recent interest in supporting the modernization of Armenia’s nuclear power plant (ANPP) highlights its expanding influence in the South Caucasus region. During discussions with Armenian officials, Chinese Chargé d’Affaires in Armenia, Chen Min, expressed China’s readiness to assist Armenia…