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Russian oil company Rosneft OJSC upgraded to ‘BBB’

YEREVAN, April 17. /ARKA/. Russian state-owned Oil Company Rosneft OJSC (Rosneft) has completed the acquisition of TNK-BP International Ltd. for $44.4 billion in cash and 12.84% of its treasury stock. S&P now assesses Rosneft’s business risk profile as “satisfactory,” its financial risk profile as “aggressive,” and the likelihood of extraordinary support from the Russian government to the company as “very high.” S&P raised its rating on Rosneft to ‘BBB’ from ‘BBB-‘ and removed it from CreditWatch positive. The stable outlook reflects the expectation that the company will refinance its very large bridge financing and not further increase its Standard&Poor’s-adjusted debt through shareholder payouts or additional investments, according to AlacraStore. –0–

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Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Central Bank invalidated banking license of Ardshininvestbank due to its merger with Ardshinbank

The Board of the Central Bank of Armenia has revoked the banking license of Ardshininvestbank CJSC (formerly HSBC Bank Armenia CJSC) following its merger with Ardshinbank CJSC.

Unibank’s “Haghtanak” branch serves clients from 9:30 am to 7:30 pm

Unibank branch “Haghtanak” has switched to a new operating mode - extended hours. Now clients can receive a full range of banking services from Monday to Friday - from 9:30 am to 7:30 pm.The branch is located at N94, 62 Komitas, Yerevan. 

ADB forecasts inflation in Armenia at 3% in 2025 and 2.8% in 2026

The Asian Development Bank (ADB) forecasts inflation in Armenia at 3% in 2025, said Don Lambert, Director of the Bank’s Resident Mission in Armenia.

Armenian parliament approves annual report on execution of 2024 state budget

At a session on Thursday, the National Assembly of Armenia approved the annual report on the execution of the 2024 state budget.

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