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National institute of finance of Andorra (INAF) dismissed Board of directors of Banca Privada d’Andorra (BPA)

Acting as Prime minister of Andorra Antoni Martí after a meeting with the president of European Commission Jean-Claude Juncker in Brussels declared that the National institute of finance of Andorra (INAF) made the decision on dismissal of Board of directors of Banca Privada d’Andorra (BPA) bank (as a part of Higini Cierco, Ramon Cierco, Ricard …

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S&P rating agency in connection with a situation with Banca Privada d’Andorra (BPA) bank lowered the Principality rating to BBB

The Standard&Poor’s rating agency in connection with a situation with Banca Privada d’Andorra (BPA) bank lowered the Principality rating to BBB.

Earlier National institute of finance of Andorra (INAF) appointed two external managing directors in one of five banks of Andorra – Banca Privada d’Andorra (BPA) for carrying out internal investigation in response to official charge …

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Andorran authorities appointed two external directors in Banca Privada d’Andorra for carrying out investigation in response to official charge from the U.S. Treasury of money laundering received by BPA from russian criminals

The national institute of finance of Andorra (INAF) appointed two external managing directors in one of five banks of Andorra – Banca Privada d’Andorra (BPA) for carrying out internal investigation in response to official charge from the U.S. Treasury Department of money laundering received by BPA from russian criminal groups. As they say in the …

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Today Andorra is an optimal ski resort considering the combination of price and quality, as well as climate conditions, says English Daily Mail

Snowless December in Pyrenees gave place to January with enormous amount of snow, that became a reason for 2 meters snow banks, as English Daily Mail reports. As a comparison: snow level in the French Alps is 1.5m (Serre Chevalier resort), in Verbier (Swiss ski resort) – 1.9m

Herewith, the newspaper has discovered that prices are …

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Cirque du Soleil tour that took place in Andorra from July to August 2014 brought to the budget of the country more than 16 mln euro

As reported the Ministry of Tourism of Andorra, the budget of Principality gained 16 mln euro due to additional inflow of tourists during only two month last summer. The cause is Cirque du Soleil tour, which took place from July to August. Even though, the central city parking lot did not work those months, because …

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In 2014 the Government of Andorra granted 603 permissions for formation of foreign companies. Total amount of investments is 109 mln euros that is four times bigger than last year

In 2014 the Government of Andorra granted 603 permissions for formation of foreign companies. Total amount of investments is 109 mln euros that is four times bigger than last year (27 mln euros). 473 permissions for formation of foreign companies were given in 2013. The Secretary of State for Economic diversification of Government of …

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Andbank announced about contingent convertible bonds issue for the purpose of purchasing of Banco Inversis

One of five Andorra’s banks – Andbank – announced issue of so-called CoCos bonds and placement of bond issues for its clients. The purpose of bond issue is obligations purchasing of Inversis financial group as part of further foreign banking expansion. Expected volume of bond issuance is from 30 to 50 mln euros.

«CoCos» are the …

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