Russia Expands Key Border Crossing for Trade with Armenia: THIS WEEK IN BUSINESS

  • Moody’s, one of the “big three” rating agencies, upgraded Armenia’s credit outlook from “negative” to “stable,” while keeping the country’s credit rating at a non-investment-grade level.
  • A joint U.S.-Armenian venture vowed to move forward with plans to build a scrap metal plant in an Armenian border village despite repeated Azerbaijani shelling.
  • Russia completed a multimillion-dollar expansion of its sole border crossing with Georgia, a key transit point for Armenia’s trade with the outside world.
  • The investigative outlet Hetq sued the Ministry of High-Tech Industry to access documents showing the government’s financial support for IT companies.

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