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Saudi Arabia opens its stock market to foreigners

YEREVAN, June 15. /ARKA/. Saudi Arabia is opening one of the world’s most-restricted stock markets to foreigners for the first time on Monday, Bloomberg reports.

The move comes as the biggest economy in the Middle East seeks to reduce its reliance on oil income, which accounts for about 90 percent of government revenue, and as the kingdom burns through foreign reserves at a record pace. –0–

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Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Arka news agency’s ranking of most profitable Armenian banks in 2019

In 2019, Armenia-based commercial banks earned a total of 78.8 billion drams in net profit, up from 56.4 billion drams they had earned in 2018, according to ARKA news agency's ranking of the most profitable commercial banks in the fourth quarter of 2019

Top ten Armenian banks by size of lending in 2019

In 2019, the overall loan portfolio of Armenia's banking sector grew by 16.4% to 3.572.2 trillion drams

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