Armenia: Russia-based businessmen invest 100,000,000 drams in Kotayk road construction

Sergo Stepanyan and Samvel Stepanyan, Russia-based Armenian brothers and successful businessmen, have invested nearly $210,000 (100,000,000 drams) in the Armenian province of Kotayk, the Ministry of Diaspora reported. The two Armenians have funded the construction of a 3 km road in the Nor Yerznka community of the province. The inauguration of the road will take…

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Azerbaijan: AZAL President and Egyptian Ambassador discuss opening of new flights

President of Azerbaijan Airlines, Jahangir Asgarov met with Ambassador Extraordinary and Plenipotentiary of Egypt to Azerbaijan, Adel Ibrahim Ahmed Ibrahim in Baku. During the meeting, the parties exchanged views on issues related to further cooperation in civil aviation between Azerbaijan and Egypt. Jahangir Asgarov emphasized an increase in passenger traffic at the international airports of…

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Latvia: new concert hall to recover investments in 15 years

In the first 15 years after construction of Latvia’s new National Acoustic Concert Hall it will earn Latvia’s national economy a total of EUR 107.6 million, fully compensating investments and creating additional profits of EUR 17.6 million, as concluded in Latvia’s Culture Ministry’s ordered social-economic analysis. According to estimates, the concert hall project’s economic viability…

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Ukraine: Deposit Guarantee Fund completes payments to depositors of Standard Bank

The Deposit Guarantee Fund has completed payments to the depositors of PJSC Commercial Bank Standard, according to the Fund’s press service. “On May 15, the authorized person of the Deposit Guarantee Fund for the liquidation of PJSC Commercial Bank Standard submitted documents to the state registrar of legal entities, individual entrepreneurs and public organizations to…

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Azerbaijan: GDP up in January-April 2019

Azerbaijan’s GDP exceeded 23.8 billion manats in January-April that is 2.1% more than in January-April 2018, the State Statistical Committee reported. The volume of GDP per capita stood at 2,411.8 manats. Some 46.5% of Azerbaijan’s GDP accounted for industrial sphere, 5.9% – for construction, and 3.1% – for agriculture, forestry and fishery. Net taxes on…

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Latvia: ABLV Bank’s liquidation model still not approved

U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) distances from Latvian Finance and Capital Market Commission’s (FCMC) statement regarding the coordinated liquidation model for ABLV Bank, as noted by the US Embassy in Latvia. FCMC had previously reported that after meeting with representatives from FinCEN the committee saw no obstacles for the execution of FCMC’s…

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