The distribution of global wealth according to Credit Suisse

The distribution of global wealth has stayed just as skewed as last year, according to a huge study by Credit Suisse. The bank compiled data showing that just 0.7% of the world's adult population owns almost half of the world's wealth, while the bottom 73% have less than $10,000 each. Here is Credit Suisse: "The 3.5 billion adults with wealth below $10,000 account for 2.4% of global wealth. In contrast, the 33 million millionaires comprise less than 1% of the adult population, but own 46% of household wealth. "The past year saw a slight increase in the number of US dollar millionaires and high net worth individuals, with Japan the main beneficiary due to appreci...

Real estate estimation

According to evaluation theorem is appraised not the object of real estate or right to it. The real estate assessment is one of the most common types of evaluation activity and includes determination of cost of property rights or other rights (for example,  lease right, use right, construction right and etc...). Estimation of  real estate – is a difficult process, which purpose is to determine such type of real estate, which is fixedly connected to the plot and its moving is impossible without disproportionate use of damage to its destination. The objects of evaluation are the plot and everything, which is associated with the land, including buildings of industrial, social an...

16th issue of bonds by National Mortgage Company placed at NASDAQ OMX Armenia

On November 09, 2016 placement of nominal coupon bonds (NMCCB2G) issued by “National Mortgage Company” Refinancing Credit Organization CJSC (RCO CJSC) took place at NASDAQ OMX Armenia. The Company submitted for placement 180,000 coupon bonds for the amount of AMD 1,800,000,000 with nominal value of AMD 10,000 and maturity period of 36 months. Five transactions were concluded during the placement, as a result of which bonds (ISIN:AMNMCCB2GER4) for a total amount of AMD 1,171,160,371.32 were placed. Cut-off price of the bonds was AMD 9,874.12, the cut-off yield stood at 10.5% and the weighted average yield was 10.4303%. Details of other financial instruments traded on NASDAQ OMX...

Real Estate in Armenia Has Depreciated

The decline in property prices can be seen both in Yerevan and in other regions of the country. Prices for apartments in Yerevan fell 4% on average. For example, 1 sq/m in multi-blocked house costs 649 dollars, when in 2011 the price was $675. With the decrease in prices in parallel the prices on the purchase and sale of apartments obviously dropped. 

The annual Realtor award 2015 winners for the realty industry are announced

The traditional award presentation for the realty industry was held on January 15. This award was established in 2009 by My Corp company and previews several  nominations/categories. The winners by categories are as follows: Viva realty, a realty agency - “The most professional company”   Rentals, a realty agency - The most recognizable company Safe House, a realty agency - The fastest-growing company D.G.A Realty, a realty agency - The most active company Vordi Levon realty agency - The most consistent company My Corp congratulates the winners and wishes success in all upcoming projects and work.    

Armenia Finance Ministers signs USD 25 million loan agreement in Vienna

Armenia’s Finance Minister Gagik Khachatryan today met with the Director-General of OPEC Fund for International Development (OFID) Suleiman Jasir Al-Herbish in Vienna, Information Department of Armenia’s Ministry of Foreign Affairs reports. Loan agreement on funding the Infrastructure and Rural Finance Support Programme (IRFSP) by USD 25 million was signed at the meeting. “The programme aims to improve water supply and irrigation systems in 7 provinces of Armenia, giving priority to the areas with the highest poverty indicators. The programme intends to raise the productivity of small landowners’ irrigated lands and contribute to the reduction of poverty,” the...

Thailand jeweler: Tax decrease can make Yerevan global jewelry exchange house

Lowering customs duties on jewelry can make Yerevan a worldwide jewelry exchange house for Armenians all over the world, Mr Zohrab Istanboulian, Thai jeweler of Armenian descent, told Armenian News. Istanboulian, who runs his own Bangkok-based production company, Zorab Creation, pointed out to the successful case of Dubai, which became a global trading centre for jewelry, gold, and precious stones. This breakthrough owes much to a business-friendly taxation, Istanboulian added. “We want a success story of that kind in Yerevan too. If the government lowers taxes, Armenian producers will bring their jewelry to Yerevan and make sales from here”, he added. This is likely to boost...

Expert: Summer reduced Armenia monetary issues

YEREVAN. – The summer season reduced the monetary problems in Armenia, and which are due to the fall of the Russian ruble, stated economist Vilen Khachatryan, at a press conference on Tuesday. In his words, the Russian ruble’s decline should have impacted Armenia’s economy, and resulted in a drop in the exchange rate of the Armenian dram. This impact, however, was felt partially, as the reserves of the Central Bank of Armenia reduced in June, albeit they were on the rise since January. In addition, dollar remittances from Russia to Armenia also dropped. “Armenia should feel by 50 percent what is happening in Russia, but this didn’t happen now,” noted Kh...

PM to prove that international organizations rushed in Armenia economic growth assessment

PM to prove that international organizations rushed in Armenia economic growth assessment 15:59, 01.08.2015 Region:Armenia Theme: Economics Prime Minister Hovik Abrahamyan assured that, despite the negative forecasts by international rating agencies, the Government of Armenia will ensure the 4.1-percent economic growth envisioned by the 2015 State Budget. “In the months of January-June, our economic growth made up 4.5 percent,” Abrahamyan on Saturday told reporters in Gyumri city. “All international organizations were giving a negative assessment, and we urged them not to rush. “A 4.1-percent economic growth is put on the basis of the 2015 budget. I&...

EBRD gives dim outlook for Armenia - GDP decline of 1,5% in 2015

Armenian GDP is projected to decline by 1,5% in 2015, according to the forecast, published today by the  European bank of Reconstruction and Development. The decline looks still harsher against the background of 3,4% growth in 2014. For 2016, EBRD predicts 1,0% growth. Prospects across the CIS are generally not very optimistic, affected by the impact of the recession in Russia.  In Ukraine, the GDP is expected to shrink by 7,5%, given the unresolved conflict in the east of the country, the depreciation of national currency, energy tariffs hikes, and restrictions of access to credit. Georgia and Azerbaijan are expected to fare better than Armenia, with estimations of 2.3% and 1,5...