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S&P lowers Italy’s credit rating to BBB

YEREVAN, July 10. / ARKA /. Standard & Poor’s Ratings Services lowered Italy’s credit rating, saying the country’s economic prospects are getting weaker, Prime reported.

S&P lowered its long-term sovereign credit ratings to ‘BBB’ from ‘BBB+’ on Tuesday. The new rating remains investment grade and is two notches above “junk” status. The firm offered a negative outlook, saying it could make another downgrade in 2013 or 2014. Lower credit ratings can make it more expensive for the government to borrow money and can spook bond investors.

S&P says Italy’s economic output is falling and its economic prospects are getting worse after a decade of weakness. It now expects Italy’s GDP to fall by 1.9% this year, worse than the 1.4% decline it forecast in March. -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.

Average annual exchange rate of Armenian dram to US dollar  projected at 402 drams in 2025 – EDB

The value of the Armenian dram will decrease slightly in 2025, and its average annual exchange rate to the US dollar is projected at 402 drams in 2025, according to the Eurasian Development Bank’s (EDB)   macroeconomic forecast for 2025-2027.

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. 

Acba Bank donates amd 130 million to Military Insurance Fund (video)

Acba bank and other members of the financial group - ACBA Leasing and Amundi-ACBA - have donated more than AMD 130 million to Armenia's Military Insurance Fund in recent months, the press service of the bank reported

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