Swedish OMX Group To Purchase Armenian Stock Exchange And The Centra

SWEDISH OMX GROUP TO PURCHASE ARMENIAN STOCK EXCHANGE AND THE CENTRAL DEPOSITARY

Mediamax News Agency, Armenia
April 27 2007

Yerevan, April 27 /Mediamax/. The Swedish OMX Group will purchase
the Armenian Stock Exchange and the Central Depositary.

As Mediamax was told in the press service of the Armenian Central
Bank, the corresponding memorandum was signed today by the Armenian
government, the Central Bank of Armenia and the OMX Company. The deal
will be ratified after signing the corresponding agreement.

The decision of OMX on the participation in the development of the
Armenian capital market was welcomed today by the Armenian Prime
Minister Serzh Sarkisian, who promised on behalf of the government
the support of the country in reaching the set goals.

Chairman of the Armenian Central Bank Tigran Sarkisian informed that
the cooperation with OMX has been already in process for a year. "The
participation of the given company in the Armenian market of capital
will assist in reaching our long-term goals", Tigran Sarkisian noted.

The General Executive Director of OMX Magnus Bocker, in his turn,
stated that the acquisition of the Armenian Stock Exchange and the
Central Depositary will increase the efficiency of their work and
will help to use the experience, achieved in Armenia, for entering
other new markets of capital.

The Swedish OMX Group was established in 2003. OMX is the operator of
Nordic Exchange, which controls about 80% of the securities market
of Scandinavia and Baltic states. The gain for 2006 made $516,7mln,
the net profits – $121mln, the capitalization – $2,5bln.

The company provides technical support to 60 exchanges in 50 countries
of the world.

Meeting With Vardanank Club Members

MEETING WITH VARDANANK CLUB MEMBERS

National Assembly of RA, Armenia
April 27 2007

During the meeting of April 26 with the university student members of
the Vardanank club, the Chairwoman of the NA Standing Committee on
Science, Education, Culture and Youth Mrs. Hranush Hakobyan highly
appreciated the military-patriotic activity of the club members
and their mission of keeping bright the memory of freedom fighters,
making the national values accessible for the students and passing
them to the future generations.

According to Mrs. Hakobyan, the most important preconditions of strong
Armenian statehood and longevity of the nation are the patriotism,
education, preservation of the mother tongue, the consolidation,
the belief and the strong family. She urged the students to be the
bearers of the precepts ‘for the Motherland.’ Everything has to be
subordinated to the Motherland. Only through developing the national
values we can integrate to the world developments, only continuing
the good work of martyrs we can provide a bright future. With concrete
examples Mrs. Hakobyan presented glorious and heroic episodes from the
Armenian history and the deeds of patriotic sons of Armenia. She also
spoke about the necessity of preserving and passing on the spiritual
values, keeping the Armenian language pure and genuine and having a
belief that will ensure us a process without obstacles.

The students presented the works done by the club, introduced the
"The university students conduct the lesson" program, spoke about
new military-patriotic ideas and about the events dedicated to the
10th anniversary of the club.

TBILISI: Samtskhe-Javakheti Road Rehabilitation Gets On Track

SAMTSKHE-JAVAKHETI ROAD REHABILITATION GETS ON TRACK
By M. Alkhazashvili
(Translated by Diana Dundua)

The Messenger, Georgia
April 27 2007

The Millennium Challenge Georgia Fund (MCG) will spend USD 102.2
million to rehabilitate the road through the southern Georgian province
of Samtskhe-Javakheti. A total of about 245 km of road, including
connecting roads Teleti-Koda-Manglisi, Manglisi-Tsalka-Ninotsminda,
Akhalkalaki-Ninotsmin da-Armenian border, and the roads from Akhalkalaki
to Kartsakhi and Khertvisi to Vardzia will be restored as well as 10
km of road that links Georgia to Turkey.

Construction is scheduled to begin this summer and should be completed
by 2010, reports the newspaper Akhali Versia.

The bidding process is still not complete. In general international
companies have applied, owing to the fact that no Georgian companies
have experience implementing USD 30 million projects, as is required
in the competition.

Though the winners are not required to employ local residents,
according to most observers, the construction companies will still
hire local workers.

The MCG is planning to hire an independent international
company to monitor and evaluate the quality of the work. After
the rehabilitation-construction process is complete the Railway
Department under the Ministry of Economic Development will take over
responsibility for the roads.

As soon as the project ends, the distance from Tbilisi to Akhalkalaki
will be reduced by 110 km and travel time will be shortened to
3.5 hours. This will help the residents of the region export their
agricultural products more easily and stimulate business development.

U.S. State Department Report Raises Concern In Baku And Yerevan

U.S. STATE DEPARTMENT REPORT RAISES CONCERN IN BAKU AND YEREVAN
By Taleh Ziyadov

Eurasia Daily Monitor, DC
April 27 2007

On March 6, the U.S. Department of State released its 2006 Country
Reports on Human Rights Practices, prepared by its Bureau of Democracy,
Human Rights, and Labor. The annual report contains updates on human
rights conditions in countries around the world.

This year’s reports on Armenia and Azerbaijan have caused serious
reactions in both countries and resulted first in a delay and then a
postponement of a high-level Azerbaijani delegation’s visit to the
United States. The delegation, led by Azerbaijan’s Deputy Foreign
Minister Araz Azimov, was scheduled to arrive in Washington on Monday,
April 23 for annual U.S.-Azerbaijan security talks that include senior
officials from the ministries of Foreign Affairs, Defense, National
Security, Internal Affairs, Emergency, and other security agencies.

The main point of contention was the wording of several sentences
concerning the Karabakh region of Azerbaijan that, along with seven
adjacent regions, have been occupied by Armenian forces since 1992.

For the first time, the U.S. Department of State made an insertion
into the Armenia report under the "Arbitrary or Unlawful Deprivation of
Life" section that read: "Armenia continues to occupy the Azerbaijani
territory of Nagorno-Karabakh and seven surrounding Azerbaijani
territories" (initial U.S. Dept. of State report of March 6). While
similar statements have appeared in previous reports on Azerbaijan,
they have never been used in the reports on Armenia.

Yerevan reacted by officially contacting the U.S. Department of State
and asking for a revision of the statement. At the same time, Armenian
lobbying groups began sending letters to U.S. Secretary of State
Condoleezza Rice with similar demands (PanArmenian.net, April 20).

On April 17, the statement was revised to read: "Armenian
forces occupy large portions of Azerbaijan territory adjacent
to Nagorno-Karabakh. Armenian officials maintain that they do not
‘occupy’ Nagorno-Karabakh itself" (revised U.S. Dept. of State report
of April 17).

Meanwhile, there have been some slight changes to the 2006 Azerbaijan
country report as well. In the introduction to this year’s report,
the previously used statement "Armenian forces continued to occupy
an estimated 16 percent of the country’s territory, including
Nagorno-Karabakh" was revised to read: "Armenian forces controlled most
of Nagorno-Karabakh, as well as large portions of adjacent Azerbaijani
territory" (U.S. Dept. of State report on Azerbaijan, March 6).

The difference in wording compared to previous issues and later
revisions upset Baku and prompted strong reaction in the Azerbaijani
press, which began questioning the "impartiality" of the U.S. as a
mediator country in the Karabakh peace process (Day.az, April 23).

Rasim Musabekov, a local expert, stated, "Partnership and cooperation,
even when it is between a superpower like the United States and a
small country like Azerbaijan, cannot be a one-way street and [the
U.S.] should show extra care to interests of [Azerbaijan], especially
on such sensitive issue as [Azerbaijan’s] territorial integrity"
(Day.az, April 23).

On April 20, the U.S. Department of State released another statement,
saying that U.S. "policy with respect to the Nagorno-Karabakh conflict
remains unchanged [and that the U.S.] reaffirms its support for the
territorial integrity of Azerbaijan, and holds that the future status
of Nagorno-Karabakh is a matter of negotiations between the parties"
(U.S. Dept. of State Press Statement, April 20).

In an interview with AzerTag news agency, Matthew Bryza, deputy
assistant secretary of state for European and Eurasian Affairs and
U.S. co-chair of the OSCE Minsk Group that mediates the Karabakh
conflict, remarked that there is "nothing to indicate any shift in
[U.S.] policy" and noted that the U.S. has been an "impartial and
honest broker" in the Karabakh conflict for years (AzerTag, April
24). Bryza also stated that he hoped the talks on U.S -Azerbaijan on
security issues would resume soon (Zerkalo, April 25).

U.S. officials have reiterated that the statement in the Armenia report
was a "mistake" that has been corrected. But some local analysts
believe the insertion of such a statement into the Armenia report
may also be associated with the upcoming parliamentary elections in
Armenia on May 12 and the current stage at the Karabakh peace process
(Day.az, April 23).

We are "at a very unique moment" in the history of the
Armenia-Azerbaijan negotiations, said Bryza, adding that the parties
are "at a juncture in the [Karabakh] peace process" where they have
started discussing the future status of Karabakh (AzerTag, April 24).

Speaking at the OSCE Permanent Council on April 17, Armenian Foreign
Minister Vardan Oskanian also stated, "I have seen all the [peace]
proposals that have ever been produced by the mediators [of the
Karabakh conflict]. I can assure you we have never been this close"
(OSCE Press Release, April 17).

Nonetheless, on April 25, the U.S. Department of State made yet another
revision to the report on Armenia and restored the initial wording of
the sentence on Karabakh, which now reads "Armenia continues to occupy
the Azerbaijani territory of Nagorno-Karabakh and seven surrounding
Azerbaijani territories All parties to the Nagorno‑Karabakh
conflict have laid landmines along the 540‑mile border with
Azerbaijan and along the line of contact."

(State Dept. Report on Armenia of April 25).

Whether the phrasing of the statement on Karabakh in the State
Department report on Armenia was an unintentional "mistake" or
another "carrot-and-stick" tactic, it remains to be seen what impact
it will have on Baku or Yerevan. The foreign ministers of Armenia
and Azerbaijan are preparing to finalize the basic principles of
the Karabakh peace process, which would then be presented to the
presidents of both states. It will be up to the presidents to accept
or reject these principles and thus determine the fate of the current
negotiations.

Turkey Should Confess Armenian And Bulgarian Genocides

TURKEY SHOULD CONFESS ARMENIAN AND BULGARIAN GENOCIDES
By Olga Yoncheva

Assyrian International News Agency
April 27 2007

Turkey should give official recognition of the Armenian genocide
committed by the Turkish state and army in the period 1915-1918,
insist 45 Bulgarian intellectuals and public figures in a declaration
distributed by BTA.

In the declaration the intellectuals insist also on the recognition
of the genocide of Bulgarians in 1903-1913.

According to the authors of the document, Turkey should take the
responsibility and should apologize for the 5-century yoke over
Bulgarians, for the committed crimes and mass murders of the
Bulgarians, who lived in its territories due to the Berlin contract.

It should also compensate the refugees’ heirs for their suffering
and the stolen property.

The declaration continues that the contemporary Turkish state,
which emphasizes itself as heir of the Ottoman Empire and seeks its
700-century "cultural and historical heritage" in a number of states
including Bulgaria, should consider itself morally obliged to admit
the committed genocides against Bulgarians, Armenians, Assyrians and
other nations.

"We call for the Bulgarian parliament to follow the example and the
active measures of the international community and of influential
constitutional bodies around the world, which recognized the
international crime "Armenian genocide".

Among these countries are: Switzerland, Poland, Slovakia, Lebanon,
Canada, Argentina, Germany, Belgium, France, Netherlands, Italy,
Greece, Uruguay, Sweden, Russia, Venezuela, Cyprus, Ukraine, the
Vatican, Lithuania and more than 30 US states, concludes the document.

The declaration will be submitted to the Armenian embassy in Bulgaria
and to the Human Rights Committee of the European parliament.

Signatories of the document are: prof. Georgi Markov, prof. Georgi
Bakalov, Lyubka Rondova, Ivan Granitski, Anton Donchev, Leda Mileva,
Lilyana Stefanova, Acad. Vassil Gyuzelev, Michail Konstantinov, prof.
Grisha Ostrovski, prof. Krikor Azaryan, prof. Sarkis Sarkisyan, prof.
Norair Nurikyan, Angel Vagenstein, Haigashot Agassyan.

The Contribution Of Small And Medium Entrepreneurships To The Armeni

THE CONTRIBUTION OF SMALL AND MEDIUM ENTREPRENEURSHIPS TO THE ARMENIAN GDP IN 2006 MADE 40.3%

Mediamax News Agency, Armenia
April 27 2007

Yerevan, April 27 /Mediamax/. The Small and Medium Entrepreneurship
Development National Center of Armenia (SME DNC) presented the report
for 2006 in Yerevan today.

Mediamax reports that there are the tendencies of development of small
and medium entrepreneurships in Armenia and the basic stances of the
state policy for the given issue presented in the report.

According to the data, brought in the report, the contributions of
small and medium entrepreneurships to the GDP of Armenia in 2006 made
40.3%. In 2005, the given index stood at 39.8%. At that, in 2006,
the contribution to the GDP of the smallest entrepreneurships made
11.3%, the small ones – 17.6%, and the medium ones – 11.4%.

According to the Deputy Head of the UN Development Program Alexander
Avanesov, the given report allows seeing the achievements, which
Armenia has reached during the latest years, and it will help us
to determine the spheres of activities, in which we can render our
support and assistance".

From: Emil Lazarian | Ararat NewsPress

Presentations Of The Armenian-Norwegian ADC Telecommunication Compan

PRESENTATIONS OF THE ARMENIAN-NORWEGIAN ADC TELECOMMUNICATION COMPANY TOOK PLACE IN YEREVAN

Mediamax News Agency, Armenia
April 27 2007

Yerevan, April 27 /Mediamax/. The presentation of the
Armenian-Norwegian Telecommunications Company "Armenian Datacom
Company" (ADC) took place in Yerevan today.

Mediamax reports that according to the Executive Director of ADC Herald
Griten, the company will be working in the sphere of provision of
ultramodern corporative network opportunities and high-speed internet
services in the Armenian capital both for the state establishments
and private companies.

President of ADC Khazhak Karayan stated that at present, $3.4mln is
invested in the company, and by the end of the year $1.5mln more is
planned to be invested. According to him, the network, installed by
the company, has no analogues not only in Armenia, but in the whole
region as well.

Khazhak Karayan stressed that the company plans to decrease the tariffs
for internet-services and the services of data transfer for 25%.

The Minister of Trade and Economic development of Armenia Karen
Chshmaritian stressed that consecutive work, directed to set up
auspicious conditions for foreign investments gave its results. The
Minister voiced hope that ADC will become one of the leading
IT-Companies of Armenia, assisting the effective activities of the
economic infrastructures of the country.

ADC was established in 2006 and is the first joint Armenian-Norwegian
company.

BAKU: Azerbaijani President Sent A Welcome Letter To Participants Of

AZERBAIJANI PRESIDENT SENT A WELCOME LETTER TO PARTICIPANTS OF COUNCIL OF MEMBERS OF EUROPEAN YOUTH FORUM

Trend News Agency, Azerbaijan
April 27 2007

Azerbaijan, Baku/ Trend , corr P. Amirdjanov/ Today, on April 27,
Azerbaijan’s President has sent a welcome letter to participants of the
meeting of the Council of Members of the Members of the European Youth

In his letter, the Head of the Azerbaijani State says that the
reinforcement and development of relations of the National Council
of Youth Organizations of Azerbaijan with the European Youth Forum
were of a great importance.

"The youth are an active participant of state building and creation
in our country. The State cares for them and pay necessary attention
to them. The country has created all favourable conditions for more
tighten and close participation of youth in the political and cultural
life of Azerbaijan. We are carrying out works to solve all their
issues and troubles. The vivid indicator of the State’s attention to
the youth can be considered Azerbaijan’s announcing 2007 as the Year
of Youth in the Country," the letter says.

The letter also notes how the Armenian-Azerbaijani Nagorno-Karabakh
conflict has had a negative effect on the life of the Azerbaijani
young people.

BAKU: Co-Chairs Propose Azerbaijani And Armenian Presidents To Meet

CO-CHAIRS PROPOSE AZERBAIJANI AND ARMENIAN PRESIDENTS TO MEET IN ST PETERSBURG

Azeri Press Agency, Azerbaijan
April 27 2007

OSCE Minsk Group’s co-chairs have proposed Azerbaijani and Armenian
Presidents to meet in the framework of the economic summit scheduled
for June 10 in St Petersburg, Azerbaijani Foreign Minister Elmar
Mammadyarov told journalists, APA reports.

The Minister confirming that the President will attend the summit
stated that the head of state will decide whether or not to accept
the proposal.

Mr.Mammadyarov said that co-chairs will visit the region after the
parliamentary elections in Armenia. He said that he will possibly meet
with his Armenian counterpart Vardan Oskanyan before the elections. The
meeting will be held during NATO’s meeting on "26+1" formula, scheduled
in Brussels on May 2.

Mammadyarov will make an official visit to Morocco after Brussels,
then will visit Egypt together with Azerbaijani President.

OMX Lands Armenia

OMX LANDS ARMENIA

FT Alphaville, UK
April 27 2007

OMX Group has signed a letter of intent to buy the Armenian Stock
Exchange. Armex, based in Yerovan, is assumed to be a relative minnow
in the the pan-Nordic exchange’s expansion plans.

Yet on this historic occasion, it is well worth a closer look at
OMX’s newest acquisition. The website informs us that it is the
only stock exchange operating in Armenia and there are 37 listed
companies. These range from the alluringly named "Selena" to the more
prosaic "Cascade-Credit Universal Credit Organisation."

But OMX might have its work cut out: in Armex’s latest newsletter,
the exchange announced that "the total number of trades [on the
equities market] in January, 2007, was 21 with total value traded
of AMD 3,639,227 ($10,127). Compared to January, 2006, the number of
trades, number of stocks traded and total value traded decreased by
70.83%, 94.71% and 99.67% accordingly."

Nevertheless, compared to December, 2006, "the total value traded
increased by 160.02%."

07/04/27/4168/omx-lands-armenia/

http://ftalphaville.ft.com/blog/20