Andorra and France discussed the prospects of cooperation in the framework of the operating of cross-border airport Andorra – La Seu D’urgell (located in Spain). In addition to the operating guide of the airport, the main issues, discussed at the meeting of representatives of state authorities of Andorra and France, focused on projects to improve …More
Fitch Ratings has downgraded Banca Privada d’Andorra’s (BPA) Long-and Short-term Issuer Default Ratings (IDRs) to ‘Default’ (D) from ‘Restricted Default’ as its resolution is now underway, reports the agency.
Crisis of one of banks of Andorra – Banca Privada d’Andorra – negatively affected ratings of other banks of the country. In particular, the Fitch Rating agency lowered a long-term rating to Crèdit Andorrà bank from A to BBB (three positions) and short-term from F2 to F3 (from reliability level above average to the average …More
Morabanс group opened in Luxembourg a branch “Mora Asset Management Luxembourg, SA”. Official action took place in “Château de Septfontaines” in the presence of presidents of MoraBanc, Francis and George Mora, the CEO Pedro Gonsalez Grau, and also in the presence of representatives of world financial and diplomatic community.
Maria Victoria Simon will head MoraBanc group …More
“The clients of Banca Privada d’Andorra (BPA) shouldn’t suffer from the carried-out restructuring of bank”, said the chairman of the board of directors of the State agency of Andorra on restructuring of banks (L’Agència Estatal de Resolució d’Entitats Bancàries, AREB) Albert Hinojosa following the results of meeting of board of directors of agency.
The main objective, …More
Standard&Poor’s rating agency published the report on a sovereign rating of Andorra on Wednesday, having kept it at the level of BBB-/A-3, but having raised at the same time the negative forecast which was appropriated on March 12 in connection with crisis with Banca Privada D’Andorra. On March 11, 2015 National institute of finance of …More
Heliport in Andorra for starting regular commercial flights — is one of priority state projects. As expected, it will be realized by 2017. It was declared by the minister of public administration, transport and telecommunications Jordi Alcobé at a press conference with presentation of the strategic directions of the ministry. Now two possible places are …More
As a result of adoption of the law “About investments” in 2012 in Andorra for the last 2 years 445 new work places were formed, thus 68 of them are formed in the first quarter of the current year. Everything, it is told in the report of the Government of Andorra, the total quantity of …More
According to new legislation of Andorra, penalties for money laundering will reach 1 mln euros. The council of ministers of Andorra agreed to make changes in the Criminal Code of Andorra. They have to be approved by parliament of the principality until the end of June, 2015.
Changes will concern article 409 CC regarding interpretation of …More
On July 7-8 in Toulouse will take place a seminar which will present Andorra as the international economic partner of Midi Pyrenees province. The state secretary on diversification of economy of Andorra Josep Maria Missé will head delegation of Andorra.
As expected, among other members of delegation of Andorra – the state secretary of tourism and …More