Intrigue of the day

2008-06-23 11:47:00 PACE starts its summer session today in Strasbourg

ArmInfo. PACE starts its summer session today in Strasbourg. According to the preliminary agenda of the session, the parliamentarians will hear the report of the Assembly and the Permanent Commission, including the reports of missions observed the elections in Georgia and Macedonia. Discussions on the activity of democratic institutions in Azerbaijan will be held on June 24 and on the situation of democratic institutions in Turkey on June 26. Discussions on functioning of democratic institutes in Armenia will
be heard on June 27.

To recall, earlier, PACE co-reporters expressed a negative opinion with regard to fulfillment of recommendations of PACE Resolution N 1609 by Armenia's authorities.







Politics

2008-06-23 13:14:00 Armenian Foreign Minister: Azerbaiiani party makes steps that endanger the peace process

ArmInfo. Foreign Minister of Armenia Edward Nalbadnian is concerned about the repeated violations of the cease-fire regime by the Azerbaijani party.

'Attacks against the civilian population, killings of innocent people and the recent steps of Azerbaijani side, in general, are directed towards the deterioration of the situation. I believe that all these attempts, which include the incident in the Martakert region of Nagorno Karabagh in the first days of March; persistent refusal, since April, to return four Armenian citizens; killing of an Armenian serviceman in Tavush region and now the killing of two civilian residents of Chinari village, must be strongly
condemned. Such steps endanger the peace process. One wonders whether the real goal of the Azerbaijani side is to create additional obstacles to the continuation of the peace talks. The demands of a number of Azerbaijani NGOs to stop the negotiations can only be seen as an evidence of this. It is obvious from where those NGOs are directed. These steps raise serious concern and have to be denounced', the minister said.


2008-06-23 12:50:00 PACE Plenary Session to discuss issue of putting debates on the situation in Armenia on agenda of Summer Session

ArmInfo. PACE Bureau adopted a decision to put the extraordinary debates on the situation in Armenia on the agenda of PACE Summer Session, Head of the Armenian delegation to PACE, Chairman of the Armenian Parliamentary Commission for State and Legal Affairs David Haroutunyan told ArmInfo.

Commenting on the most probable developments at PACE, D. Haroutunyan said: 'I will not make any forecasts. I believe we will successfully present the work we have carried out and the work that is in
process'. As regards the opinion that any sanctions on Armenia will hinder democratization of the country, he said: 'I think it will become known after the debates. In the meantime, we have much to do
at the Monitoring Committee. So, the issue will be mainly discussed there'.

To recall, in April 208 PACE adopted the Resolution No1609 'Functioning of democratic institutions in Armenia'. Among the recommendations to the Armenian party, the Assembly urges the Armenian authorities to undertake the following reforms without further delay: the political system should guarantee a proper status and appropriate rights to the opposition and a fully transparent administration of the election process; the independence from any political interest of both the National Television and Radio Commission
and the Public Television and Radio Council must be guaranteed; the authorities should step up their efforts to establish a truly independent judiciary and enhance the public's trust in the courts; arbitrary arrests and detentions, as well as the ill- treatment of detainees, in particular during police custody, should be stopped; an effective public control mechanism over the police must be guaranteed both in law and practice.

It should be noted that PACe co-rapporteurs that had recently visited the country found the efforts of the authorities insufficient. PACE adopted the above Resolution after post- election incidents in Yerevan.


2008-06-23 12:49:00 OSCE MG co-chairs to visit Armenia on June 27-28

ArmInfo. Visit of OSCE MG co-chairs on settlement of Nagorno Karabakh problem to Armenia will be held on June 27-28, Head of the Mass Media Relations Department of RA FM press service Tigran Balayan told ArmInfo.

The source reports that meetings of co-chairs with RA President Serzh Sargsyan and Foreign Minister Edward Nalbandyan have been scheduled within the frames of the visit. The visit to Yerevan will
be preceded by visit to Baku, where the co-chairs will also meet the country's top political authorities.


2008-06-23 12:00:00 Fulfillment of the Optional Protocol to the United Nations Convention against Torture by Armenia discussed in Yerevan

ArmInfo. Armenia's fulfillment of the Optional Protocol to the United Nations Convention against Torture or Other Cruel, Inhuman or Degrading Treatment or Punishment is discussed at Ani Plaza in Yerevan.

One of the event organizers OSCE Yerevan Office reports the discussions were organized by the Helsinki Committee Armenia with the support of OSCE Yerevan Office. Representatives of state structures, Ombudsman, public organizations and international experts discuss issues related to the strengthening of public control over penitentiaries and application of international experience in involvement of civil society into the process. The discussions pursue a goal of drafting a relevant system of national mechanisms.

The source reports that Armenia signed the Optional Protocol to the United Nations Convention against Torture or Other Cruel, Inhuman or Degrading Treatment or Punishment in September 2006.


2008-06-23 11:56:00 Azerbaijan insists on extradition of Ramil Safarov from Hungary

ArmInfo. Azerbaijan insists on extradition of the officer Ramil Safarov, who is serving life imprisonment for murder of his fellow student, from Hungary. As APA reports, the Azerbaijani ombudsman's administration appealed to the Justice Ministry and a number of structures for extradition of Safarov from Hungary to Azerbaijan. Safarov's father met the Hungarian ombudsman.

To recall, the Azerbaijani officer R. Safarov is serving life imprisonment in one of the Hungarian prisons for murder of the Armenian officer Gurgen Margarya in Budapest.


Economy

2008-06-23 12:49:00 Minister of Transport and Communication: Armenian Government allocates necessary funds to publish tender for third mobile operator in Armenia

ArmInfo. Armenian Government allocates necessary funds to publish tender for third mobile operator in Armenia, Minister of Transport and Communication of Armenia Gurgen Sargsyan told media Monday.

He said the funds will be provided to one of the subjects that will announce the tender. Afterwards, applications will be admitted within 10 days. The necessary packages of documents are to be prepared within 90 days and submitted to the tender commission. The documents are to be published in October. The minister said that both European and Asian companies take interest in the tender including Iranian companies. G. Sargsyan is sure that the tender will be transparent and meeting international standards. 'No
one will be disappointed with the selection of the third operator that will offer good quality, good price and good image', he said.

At present there are two mobile operators in the Armenian cellular communication market: ArmenTel (trade mark Beeline) and VivaCell, the subsidiary of the Russian Mobile TeleSystems (MTS). Earlier, Russian Megafon Company representative told ArmInfo the company might participate in the tender.


Finance and banks

2008-06-23 13:15:00 Authoritative international banks consider financial market of Armenia as potential platform: Head of RA CB

ArmInfo. The authoritative international banks consider the financial market of Armenia as a potential financial platform and many of them make specific steps to enter this market, Chairman of RA Central Bank Artur Javadyan said during the annual meeting of the Union of Banks of Armenia held on June 21 in Dilijan.

He exampled entry of such big banks as ProCredit German bank, the Lebanese Byblos Bank, the Russian 'Troyka Dialogue' IC and Gazprombank in the Armenian financial market. 'Participation of these banks in our market will contribute to implementation of new banking technologies and strengthening of the competition in the area of different banking services', A. Javadyan emphasized.

Along with it, he said, the events of the latest years, both from the viewpoint of institutes and regulator indicate that Armenia's financial system is at a new crucial development stage. In particular, he called increase of the range of financial services, extension of the geography of services, more qualitative and transparent service of clients. Moreover, he said, an opportunity of extension of "credits with delivery" to the residents of the country's remote villages without opening of branches has become
an achievement of the country's banking system. 'Moreover, the year 2007 was unprecedented for the banking system of Armenia, as well as from the viewpoint of increase of assets, the banks' capital and
crediting, the volumes of which grew by over 80% to 206.3 bln drams. In addition, the banks could control their risks under these conditions', A. Javadyan emphasized.

Moreover, he said that CB, for its part, also took a number of steps on renovation and improvement of the country's financial ector regulation processes. 'The Central Bank passed to the new control systems envisaging implementation of the functional regulation model. Definite legislative changes also took place, the main of which is adoption of the Law On the Securities Market, which envisages more flexible and efficient regulation of the securities market allowing the banks and credit companies to offer investment
services without additional licenses. This is rather promising for the banks, especially if take into account entry of the Swedish exchange operator NASDAQ-OMX in Armenia's financial market', A. Javadyan emphasized.

He also said that adoption of the Law On Securitisation of Assets secured with mortgage loans by RA Parliament is also an important event in the country's banking system, that will allow the banks and
other financial companies to solve the problem of long-term money and contribute to extension of the terms of mortgage loans and reduction of the interest rates.


2008-06-23 12:56:00 Exchange rate of dram against US dollar and EUR

ArmInfo Today, the maximum buying rates at commercial banks of Yerevan were 305,5 drams for 1 dollar, 473drams for 1 EUR and 12,7 drams for 1 Russian ruble. The minimum selling rates stood at 305,5 drams for 1 dollar, 476 drams for 1 EUR and 13,4 drams for 1 Russian ruble.


2008-06-23 12:02:00 All-Armenian Bank to be created till late, 2008

ArmInfo. It is scheduled to create the All-Armenian Bank till late, 2008, a newly appointed Chairman of RA Central Bank Artur Javadyan said during June 21 annual meeting of the Union of Banks of Armenia held in Dilijan.

He said it is envisaged to submit the concept of creation of the All-Armenian Bank to the government till autumn, 2008, and to the Armenian Parliament in September. The All-Armenian Bank will be founded by RA government with at least 20% share in the capital, the authoritative international financial institutes and representatives of the private sector. The scheduled minimum authorized capital of the All-Armenian Bank will make up 30 bln drams ($100 mln). The structure of the Bank's governing bodies will include
the General shareholders' Meeting, the Council and the Directorate. By CB preliminary assessments, the Council will consist of 9-11 members, 5 of which will be representatives of the government.

A. Javadyan said that the All-Armenian Bank as a financial institute will be based on the principles of cooperation of the private and state sectors. 'The Bank is created within the frames of the 'Armenian World> concept and its activity will be aimed at financing of competitive projects developed on the basis of a potential and knowledge of both the local Armenians and those living in different countries of the world', CB chairman said and added that the Bank will also finance the projects containing
innovation elements and being implemented by members of the All-Armenian network in any country of the world.

A. Javadyan emphasized that the Bank will be guided by commercial principles, as well as for profit receipt. Moreover, the All-Armenian Bank's concept will include fulfillment of all the banking operations, except for the opening of accounts and their service, as well as acceptance of small deposits, in particular, only the deposits of over 100 mln drams will be attracted. The Bank will carry out direct investments, extension of credits (including syndicated and targeted ones), provision of security, issue of
bonds, etc. However, as CB chairman said, the All- Armenian Bank will not compete with other local financial structures. "In view of this, the Bank will address the commercial banks and other
investors with a proposal to invest in its projects", he said.

RA CB chairman also said that the Bank's activity will be aimed mainly at financing, development and analysis of projects, including collection of information, as well as drawing- up of business-plans, consulting, fulfillment of educational programmes, creation of a base of projects and operations. The latter, he said, envisages formation of a platform of the developed projects' demand and supply, search of potential investors and promotion.

As Javadyan said, the investment activity of the All-Armenian Bank will be carried out within the frames of the National Competition Council's development strategy. In particular, the Bank will develop an annual investment programme and submit it to the National Competition Council.

To note, 22 commercial banks function in Armenia at present.


2008-06-12 12:17:00 European Bank intends to sell its share in capital of 'Shen-Concern' CJSC to another two company stockholders

ArmInfo. The European Bank for Reconstruction and Development (EBRD) intends to sell its share at the rate of 36,37% in the authorized capital of "Shen-Concern" CJSC to another two stockholders of the Company.

As "Shen-Concern" CJSC told ArmInfo today, EBRD will sell 26,39% and 10,28% of its shares to the Company President Samvel Beglaryan and vice President Ara Hasratyan. As a result of the transaction, S. Beglaryan's share will grow from the present 45,48% of shares to 71,87%, and A. Hasratyan's share - from 17,71% to 27,99%. The remaining shares have been distributed among other small
stockholders of the Company. "Shen- Concern" also informed that the agreement with EBRD on participation in the capital was signed in 2004, and in 2005, EBRD entered the Company's capital at the rate of 24% and then increased the share to 36,67%. The agreement was signed with the right of sale of the shares upon expiry of three years, which the bank took advantage of. Yesterday, RA Commission for Protection of economic Competition gave consent for the transaction fulfillment. According to the Commission, the
transaction is being carried out within the frames of one company and it does not affect the competitive environment.

To recall, upon the results 2007, the net profit of "Shen-Concern" CJSC, being a leader in production of building materials in Armenia, grew by 12,3% to 387809 thsd drams ($1,2 mln), as compared with
2006.


Social

2008-06-23 12:58:00 Celebrating World Refugee Day

ArmInfo. On 20 June 2008, the United Nations High Commissioner Office in Armenia celebrated the World Refugee Day marking the courage of the refugees and paying tribute to those ho,
despite having lost everything, never lose hope.

For this event the exhibition fully composed of paintings made by Iraqi refugee children of the age 4 - 12 was presented in the premises of Iraqi Refugee Committee.

UNHCR is mandated to help refugees to integrate by promoting tolerance and respect among children or through supporting inter-ethnic and cultural events like World Refugee Day. In that regard the office in cooperation with refugees and NGOs organised a concert, which was held in Arno Babajanyan Concert Hall in Yerevan. The concert was performed by refugees from Azerbaijan and Iraq, as well as from local communities locals. The performance was attended by the diplomatic missions, the representatives of international
organisations, government officials and NGOs.

World Refugee Day is the occasion to call attention to the millions of refugees and to their urgent needs, from water and shelter to protection and tolerance. Please join us in this effort. Whether in remote camps or in nearby neighborhoods, there are always ways with which we can help refugees. It begins by remembering that they did not leave home by choice.