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Intrigue of the day

2008-04-22 14:10:00 Minister confirmed fact of signing of world agreement by RA government with Global Gold Mining LLC

ArmInfo. Today, RA Minister of Nature Protection Aram Harutyunyan officially confirmed the fact of signing of the world agreement by RA government with the gold-mining Company Global Gold Mining LLC (representation of the American Global Gold Corporation in RA).

He said that the world agreement was signed between the Company and the government on February 17, 2008. The Ministry received the copy of this document and undertakes to fulfill all the liabilities
indicated in it, A. Harutyunyan said. (RA government has not officially announced about signing of the world agreement so far).

To recall, in early March, 2007, the Global Gold Mining appealed to the International Center for Regulation of Investment Disputes in Washington, demanding to launch arbitral proceedings against
Armenia's government. The Company's interests in the court were protected by the legal Company King & Spalding. The Armenian government, in the person of RA ex-Minister of Nature Protection Vardan Ayvazyan, is accused of creating obstacles to GGC's activity. In particular, the minister refused to prolong the terms of licenses for exploitation of Hankavan copper-molybdenum deposit in RA Kotayk region and Marjan gold-polymetallic deposit in Sisian region. The American company has faced the problems after V. Ayvazyan
was refused of request to give him a bribe of several million American
dollars (a sum of $3 mln is called). Representative of the legal company said the minister, by his behaviour, breaches the agreement between the USA and Armenia on mutual protection of nvestments and protection of investments from expropriation. Despite the fact that the world agreement was nevertheless signed, the legal case with respect to Vardan Ayvazyan has not been closed, the reliable data say.







Politics

2008-04-22 23:02:00 David Haroutyunyan: Armenian policemen have a long way to go to become professionals

ArmInfo. Armenian policemen have a long way to go yet to become professionals, the head of the Armenian delegation to PACE, says the chairman of the standing committee on state and legal issues of the Armenian Parliament David Haroutyunyan.

"The Armenian police were not ready for the Mar 1 disorders. Today we need experts for explaining why this all happened and who is really to blame for that. Our key goal is to prevent the recurrence of such incidents in the future. The ombudsman of Armenia must take a very active part in the study of the case. As a representative of the authorities I am also responsible for what happened," says
Haroutyunyan.


2008-04-22 22:58:00 David Harutyunyan: Armenian authorities should take measures to find a way out of current situation before June

ArmInfo. Armenia should take measures to normalize the activity of democratic institutions in the country, Chairman of the Armenian delegation to PACE, Head of the Armenian National Assembly's Standing Commission for Legal Issues David Harutyunyan said at a press-conference in parliament, Tuesday.

According to him, the Armenian delegation presented over 30 proposals on the PACE resolution "On Functioning of Democratic Institutions in Armenia". "The proposals didn't aim to dampen the document, as the latter is tough enough. We just wanted to introduce some specifications in the resolution. Certainly, we disagreed with some issues, but these were secondary issues", the MP said. He stressed
that the resolution has items, according to which Armenia's authorities should take urgent measures before June 2008. "These items include ensuring in the political system mechanisms due to which the opposition is given certain rights and bears responsibility before the state. Today the situation is extremely serious, and the Armenian authorities should act intensively", Harutyunyan said. Another issue concerns electoral processes. "Actually, electoral commissions should be free, i.e. no political force should
influence them", he stressed. The MP added that the resolution raised issues on releasing persons detained on the basis of "sophisticated charges". First and foremost, the Armenian authorities should be encouraged to carry out all the requirements of the resolution. Harutyunyan noted that relevant mechanisms should be set up to implement the resolution adopted at the April 17 PACE session.


2008-04-22 16:21:00 OSCE and CE welcome agreement reached with leading Armenian state representatives to make changes to recently amended assembly law

ArmInfo. The OSCE's Office for Democratic Institutions and Human Rights (ODIHR) and Council of Europe's Venice Commission today welcomed the agreement reached with leading Armenian state representatives to make changes to the recently amended assembly law on holding of demonstrations, processions and rallies .

As OSCE Headquarters told ArmInfo, ODIHR Director Christian Strohal said: "We see this agreement as another step in the long-standing cooperation between the Armenian authorities, the ODIHR and the
Venice Commission on the legislative regulation of public assemblies". For his part, General Secretary of the Venice Commission Gianni Buquicchio said: "The Venice Commission and the ODIHR look forward to receiving the drafts of the new amendments and stand ready to review them in light of relevant international standards".

In a legal opinion published on 28 March, the ODIHR and the Venice Commission raised serious concerns about the amendments to the Law on Conducting Meetings, Assemblies, Rallies and Demonstrations which was passed shortly after the violent events of 1-2 March. During a visit to Yerevan on 15-16 April, a delegation from the ODIHR and the Venice Commission delegation met with Tigran Torosyan, the Speaker of the National Assembly, Gevorg Danielyan, Minister of Justice, and
presidential adviser Gevorg Mheryan.

It was agreed to repeal or change the amendments introduced to tighten provisions for peaceful assemblies, in particular with regard to spontaneous gatherings. These changes would bring the law closer to its original content, which had been assessed positively by the ODIHR and the Venice Commission. Based on the agreement reached, new amendments will be drafted and submitted to ODIHR and the Venice Commission for another review. The ODIHR and Venice Commission experts suggested that sufficient time be allowed
for public discussion of the amendments.


2008-04-22 13:17:00 Professor Roger Smith awarded Movses Khorenatsi Medal for contribution to international recognition of Armenian Genocide

ArmInfo. President of Armenia Serzh Sargsyan signed a decree on awarding prizes for significant contribution to recognition of Armenian Genocide.

The presidential press-service reports Yuri Barseghov (Russia) is awarded for the two volume book 'Genocide of Armenians: Responsibility of Turkey and Obligations of the International Community' and Yves Ternon (France) for significant historical contribution to the recognition of Armenian Genocide.

In addition, the president awarded Professor Roger V. Smith was awarded Movses Khorenatsi Medal for significant contribution to Armenian Genocide.


2008-04-22 13:10:00 No one wants to run for prefecture of Nork Marash community

ArmInfo. Although one day remains till the deadline for applications for registration of candidates to the post of Nork Marash community prefect, no one has applied so far. The elections to the prefectures of Davidashen, Avan, Malatia-Sebastia and Nork-Marash communities are scheduled for May 18.

CEC Press Secretary Tatevik Ohanyan told ArmInfo that only a member of the Republican Party of Armenia David Ohanyan applied for registration as candidate to the post of Malatia-Sebastia prefect so
far. The son of the deceased Andranik Margaryan, the incumbent prefect of Avan community, Republican Taron Margaryan applied for registration in Avan community. The deadline for applications is
April 23 6:00 pm. The registration of candidates is scheduled for April 28, Tatevik Ohanyan said.


2008-04-22 12:01:00 US Embassy in Armenia Public Affairs Officer: NATO becoming not only military but also political alliance

ArmInfo. US Embassy in Armenia Public Affairs Officer Thomas Mittnacht believes that NATO is gradually becoming not only a military but also a political alliance. T. Mittnacht made this statement at a seminar entitled at Ani Plaza in Yerevan, Tuesday. The seminar was organized by efforts of the Armenian Atlantic Association. The youth wing of the Association participated in the Bucharest Summit on April 2-4.

He said he is glad to see so many young people among the participants in the seminar since the youth is always for reforms and NATO is for reforms in armed forces, and first of all, for introduction of a system of civil control over armed forces.

The key goal of the seminar is to raise youth awareness of the key issues discussed and decisions adopted at Bucharest Summit.


2008-04-22 12:00:00 By November 1, 2008, some positions in RA Defense Ministry to be held by representatives of RA DM Civil Service

ArmInfo. By November 1, 2008, some positions in RA Defense Ministry will be held by representatives of the Civil Service, deputy Defense Minister of Armenia Ara Nazaryan said at today's seminar in Yerevan "Bucharest Summit: New Extension, New Challenges, New Opportunities", organized by the Armenian Atlantic Association.

He recalled that implementation of civil control over the country's armed forces has been specified by Article 8, note 2 of RA Constitution. At present, the work over the draft law on defense to be submitted to the government, is underway. Not only the basic principles of assurance of the Armed Forces' defense capacity, but also the duties of the president as Chief Commander, as well as the National Assembly and the offices of state other will be clearly indicated in it. The Law on Civil Service, adopted in
2007, stipulates the process of its implementation in the structure of the Defense Ministry, for which over ten legislative acts have already been adopted. These acts regulate the process of holding some positions in DM by civil persons, that is a difficult process in a psychological sense, first of all. The adopted acts also determine the list of positions, at which the military men will be replaced by civil persons and the process of occupying the vacancies by civil serv
ants. Two-stage competitions will be held - testing and interview, upon the results of which the winners will be determined. The matter concerns the positions, which do not require special military knowledge in the DM structure, that is, financial exerts, lawyers, clerical assistants, etc., Ara Nazaryan said.


Hi-Tech

2008-04-22 16:25:00 Microsoft and HayPost sign agreement on three year cooperation

ArmInfo. Microsoft and HayPost signed an Enterprise Agreement on three year cooperation on April 22, 2008. The agreement was signed between Hans Boon, Director General of HayPost, and Grigor Barsegyan, Microsoft CM. With support of Dom Daniel LLC - the Large Account Reseller (LAC), this agreement between Microsoft and HayPost will help continue to move forward many of the transformations that HayPost has been undertaking, but this time in the IT sector.

Zhenya Azizyan, the head of the department for IT development at the Armenian Ministry of Economy, published Armenian Economy Minister Nerses Yeritsyan's message, which says that the initiative of signing the agreement meets the governmental policy in the sphere of IT development. "The raise of the IT application level in Armenia is one of the priority directions of economy development in Armenia. The government pays special attention to development of this sphere. By the president's decree, a new conception
of IT development has been worked out, which is to address issues of providing high quality
electronic services", the message says. N.Yeritsyan also noted in his message that the government considers HayPost and Microsoft to be the main strategic partners in realization of plans. "Cooperation
between these two companies is important as HayPost, which attaches much significance to application of licensed and safe program packages and systems, serves an example for other companies of the
country, moreover, copyright protection is the main guarantor of both development of the company itself and increasing the country's image and attracting new investments", the message says.

Hans Boon, Director General of HayPost, said that the cooperation between the two companies will help HayPost optimally assist Armenia in the development of IT technologies, With a larger service network,
HayPost will be able to contribute also to introducing new IT innovations for us to increase the quality of HayPost services, he said. He also added that a single platform is to be created under the given agreement to manage risks, boost Internet services and introduce a number of new services both in Yerevan and in the regions. Although the agreement is signed for 3 years, it can be extended for another year or two, H. Boon said. He also added that introduction of the new modern technologies of Microsoft will
make it possible for the company not only to reduce the staff base but also to extend and raise its level and to raise the productivity level of its own resources. He also said that the company resolves its finance problems by means of the two sources, including at the expense of the resources of private investments and its own benefit.

The leader of the Armenian representation of Microsoft, Grigor Barsegyan, said he is pleased with the fact that the agreement was signed with such a big and authorized company of strategic significance. He also added that within the frames of the agreement experience and technical equipment of Microsoft will be passed to the Haypost. This will also promote development of the Information Technologies sphere. 'We shall make all the efforts to raise the quality level of the Haypopst services', - Barsegyan said
and added that Haypost workers will attend relevant training sources and seminars.

To note, Haypost is going to open PostBank net in July of the current year.


Economy

2008-04-22 13:25:00 Armenia and Russia signed a contract on creation of the joint-stock company on uranium geological exploration

ArmInfo. Today in Yerevan Armenia and Russia signed a contract on creation of the joint-stock company on uranium geological exploration at the territory of Armenia. The contract was signed by Armenian Nature Protection Minister Aram Harutyunyan and Director General of OJSC "Atomredmetzoloto" (subsidiary of Rosatom) Vadim Zhivov.

After signing the contract deputy director of Rosatom, Nikolay Spaskiy, said at the press-conference that the company will a closed joint-stock one with a capital 50% to 50% and the Russian party is not going to raise its share in the company. They are going to call the company - "Armenian-Russian mining and ore company". In summer-autumn 2008 they are going to start boring for geological exploration of uranium deposits in Armenia. He also added that the Russian party will invest several millions of US dollars
in the geological exploration.

For his part, Harutyunyan said that they are going to register the company and give it the relevant certificate over three months. The Russian company schedules to invest $3 mln in 2008 for the
engineering and geological exploration which will start in Syunik region of Armenia, at Pkhrut, Megradzor and Verin Hank districts.They declined to answer journalists' question about the uranium store in Armenia.

As it was informed earlier, according to Rosatom prediction, uranium store in Armenia amount to about 30thsd tons.


2008-04-21 18:12:00 Second Armenian Tourism Competitiveness Conference to be held in Yerevan in May

ArmInfo. The Ministry of Trade and Economic Development, USAID- funded Competitive Armenian Private Sector Project (CAPS) and Armenian Tourism Development Agency are organizing
the Second Armenian Tourism Competitiveness Conference, which will take place at Ani Plaza hotel, Ani hall, on Tuesday, May 6, 2008.

As CAPS told ArmInfo, the conference will focus on a range of industry-related issues such as country branding and marketing, tourism and hospitality workforce skills, cost competitiveness, and cluster strengthening initiatives, etc. - all with the notion of meeting new challenges and markets. Presentations will include reports on: Armenia's ranking and scores in the 2nd Travel and Tourism Competitiveness Index (providing also a comparison of results with neighboring countries); the competitiveness of Armenia's
air transportation based on recent analysis; the results from a tourism and hospitality workforce skills and knowledge needs analysis; and conclusions from the International Visitor Survey 2007-2008.

Presentations will also be made concerning the recent, ongoing and future activities of Armenia's tourism-related associations.

The conference is open to all stakeholders, tourism professionals and anyone involved and/or interested in the tourism industry in Armenia. Expected attendees include Government representatives, tour operators, guides, travel agents, service providers, educational institutions, transportation providers, industry associations etc.







Finance and banks

2008-04-22 13:20:00 Exchange rate of dram against US dollar and EUR

ArmInfo Today, the maximum buying rates at commercial banks of Yerevan were 309 drams for 1 dollar, 490drams for 1 EUR and 12,97 drams for 1 Russian ruble. The minimum selling rates stood at 311 drams for 1 dollar, 494 drams for 1 EUR and 13,2 drams for 1 Russian ruble.


2008-04-18 14:21:00 ARMIMPEXBANK CJSC to finance acquisition and delivery to Armenia of 55 ZONDA model buses

ArmInfo. Fifty-five comfortable ZONDA buses will soon be serving passengers throughout Yerevan streets, Ameria consulting company told ArmInfo.

Thus, the principal means of public transportation in Armenia are buses, trolleybuses, minibuses and metro, with minibuses being the most popular and holding about 80% share of total transportation
services.

The estimated growth of the number of vehicles in the capital totals to 9,000-10,000 per year, thus making the traffic even more difficult. Taking all that into account, the city municipality adopted a policy of increasing the number of buses and simultaneously decreasing that of minibuses in city routes.

One of the pioneers in switching some of the routes from minibuses to buses is TIGRAN LLC, one of the major transport operators in Armenia.

To support the program implementation process, Tigran LLC contracted Ameria CJSC, a leading investment advisor in Armenia. Based on the Client's objectives Ameria specialists elaborated an investment project, based on which a loan of about US $3'000'000 was funded by ARMIMPEXBANK CJSC to finance acquisition and delivery to Armenia of 55 ZONDA model buses.

During the first phase of the project, 10 ZONDA buses will replace 21 GAZEL minibuses and 4 PAZ buses. The second phase provides for 45 more ZONDA buses to be imported to Armenia and replace 103 GAZEL microbuses. In addition to significant improvement of traffic in the city, these buses were chosen for their efficiency, safety and environmental safety.


Social

2008-04-22 13:18:00 Eleven Armenian students to be enabled to study in Russian HEEs within frames of state order

ArmInfo. Eleven Armenian students will be enabled to study in the Russian Higher Educational Establishments under assistance of RA Culture Ministry. As Head of the Public Relations Department Gayane Durgaryan told ArmInfo, selection of applications for study in the Russian HEEs is carried out by RA Culture Ministry. The main requirements are good knowledge of Russian, as well as study or work by specialty.

Training of the Armenian students in the Russian HEEs is carried out under assistance of RF Ministry of Education and Science, as well as RF Federal Agency on Culture and Cinematography.




INDICATOR
SHARE OF TOTAL CAPITAL, ASSETS, PROVISION OF CREDITING OF ARMENIA'S BANKING SYSTEM IN GDP (data of Armenian National Statistical Service and balance accounts of Armenia's commercial banks for 01.01.05)
NEWS FROM ARMENIA-LADA
WEEK FOTO
DANCE AROUND ARAGATS MOUNTAIN
OUR PRODUCTS
RANKING OF LEADING INSURANCE COMPANIES OF ARMENIA 01.01.2005

RANKING OF ARMENIA'S COMMERCIAL BANKS AS OF 01.01.2005




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