Railway Deal Talks: Prime Minister Nikol Pashinyan says Armenia is now seeking a compromise with Russia over the 30-year Armenian railway concession, suggesting Russian Railways could keep a partial stake instead of facing a full contract cancellation, after earlier tougher threats and arbitration talk. Trade & Services Pulse: Armenia’s trade turnover hit about $8.4bn in H1 2026 (AMD 3.2tn), with retail growth accelerating while wholesale slowed; services also expanded faster, up to 11.0% y/y in H1, led by information/communications and financial activity. Energy Grid Upgrade: Armenia approved a KfW-backed loan for the “Caucasus Transmission Network IV” power line project with Georgia, aiming to lift electricity exchange capacity from 200 MW toward 1,050 MW. AI Infrastructure Push: Firebird opened a major AI computing facility in Armenia and plans a multi-phase expansion toward 300 MW, supported by NVIDIA hardware and major power/cooling partners. Agriculture Export Moves: Armenia and Russia discussed conditions for resuming Armenian food supplies amid new restrictions, while Armenia also explored boosting agricultural exports to Kazakhstan (wine, fruits/vegetables, fish). Finance & Markets: Fast Bank launched an IPO of dram bonds worth 13bn AMD with a 10.25% coupon, and Converse Bank started a new $2m bond tranche for Global Shipping LLC. Governance & Oversight: Armenia’s Anti-Corruption Committee confirmed the detention of four Gazprom Armenia employees over alleged bribery tied to gas connection approvals.