Month: April 2007

"TURKEY MAKES SERIOUS DIPLOMATIC MISTAKE AND LOSES UNPRECEDENTED POSSIBILITY
OF POSITIVELY INCLINING ARMENIAN LOBBY," CHAIRMAN OF ARMENIAN ORGANIZATIONS
IN EUROPE REPRESENTATION STATES

Noyan Tapan
Armenians Today
Apr 05 2007

BRATISLAVA, APRIL 5, NOYAN TAPAN – ARMENIANS TODAY. The Turkish Foreign
Ministry’s inviting of the Armenian delegation for participation
in the opening ceremony of the Surb Khach (Saint Cross) church of
the island of Akhtamar, Van, and at the same time not opening of
the Armenian-Turkish border for arriving in Turkey was a serious
diplomatic mistake by Turkey. Ashot Grigorian, the Chairman of the
Armenian Organizations in Europe Representation and of the Armenian
community of Slovakia, gave such an estimation to the happened. He
mentioned in the interview to Noyan tapan that similar data did not
help increase of Turkey’s authority in Europe.

In A. Grigorian’s words, in spite of promises given to the Armenian
side, the Margara and Gyumri border custom-houses remained close,
arising great difficulties for those leaving Armenia to Van. Ambassador
of Turkey to Slovakia Tunc Ugdul was not either able to show assistance
in that issue, in spite of the promises given by him at the March 20
Bratislava meeting with Ashot Grigorian.

"Surely, correct diplomacy prompted to open-heartedly receive both
Armenians of Armenia and Diasporan Armenians and attempt to prove
that no trace remained from Ottaman Turkey in today’s everyday life
of republican Turkey," A. Grigorian said, adding that the opposite,
Turkey striving for membership to the European Union more and more
repel Europeans in the consequence of its not skilled diplomacy.

In the AOER Chairman’s words, "in spite of the promising agreement
with today’s Ambassador of Turkey to Solvakia to assist establishment
of the Turkish-Armenian diplomatic relations, however, the Turkish
Foreign Ministry again missed the possibility of getting possible
political divident, taking a very favourable step for itself and
lost a very good possibility on the way of settling relations with
the neighboring European country."

"This was an unprecedented possibility to positively incline the
Armenian lobby but it was not used," the Chairman of the Armenian
Organizations in Europe Representation summed up.

ROBERT KOCHARIAN: I AM CONVINCED THAT IN THIS RESPONSIBLE PERIOD SERGE SARGSIAN IS ABLE TO HEAD GOVERNMENT

Noyan Tapan
Apr 05 2007

YEREVAN, APRIL 5, NOYAN TAPAN. RA government’s sitting took place on
April 5. It was conducted by RA President Robert Kocharian. Before
touching upon the issues on the agenda the President presented
the members of RA government his April 4 decree "On Appointing RA
Prime Minister," by which Acting Defence Minister Serge Sargsian was
appointed as RA Prime Minister.

"I think there is no necessity to introduce Serge Sargsian. I will
only remind that he has been member of government since 1993 up to
present and in this period he worked in the president’s staff for
nearly 6 months. More than 8 years, nearly 8 years and a half, he
has been a Defence Minister heading the Armenian army, the army all
of us are proud of. And of course, it is difficult to overestimate
Serge Sargsian’s contribution in full formation of the army.

I personally have known him long: he is a hard-working, decent,
consistent personality. I am convinced that he is able to head the
government in this responsible period, especially as we have no other
person having such experience," R. Kocharian said.

As Noyan Tapan was informed from RA government Information and Public
Relations Department, RA President called members of RA government for
organizing their work in the whole preelectoral period so as not to
damage the normal work of Ministries’ staffs and for these processes
not to have an impact on the quality of the work in any way.

RA ACTING FOREIGN MINISTER GREETS CIS EXECUTIVE COMMITTEE’S INITIATIVE TO CARRY OUT OBSERVATION MISSION DURING ARMENIAN PARLIAMENTARY ELECTIONS

Noyan Tapan
Apr 05 2007

YEREVAN, APRIL 5, NOYAN TAPAN. On April 5, RA Acting Foreign Minister
Vartan Oskanian met with CIS Executive Secretary, Chairman of Executive
Committee Vladimir Rushaylo who arrived in Armenia for the purpose
of preparing observation mission. V. Oskanian greeted CIS Executive
Committee’s initiative to carry out observation mission during NA
elections attaching importance to holding of the forthcoming elections
by the highest international standards.

As Noyan Tapan was informed from RA Foreign Ministry Press and
Information Department, V. Rushalyo briefly presented the work done
by CIS Executive Committee and touched upon the agenda of regular
meeting of CIS countries’ Foreign Ministers to be held in April.

Both sides highly estimated Armenia’s active participation in CIS
events of various kinds, in particular, in processes of extension
and deepening of humanitarian cooperation, as well as Armenia’s
constructive conduct in discussions of CIS reforming conception.

From: Emil Lazarian | Ararat NewsPress

RA MINISTRY OF CULTURE AND YOUTH AFFAIRS AND ARMENIAN RED CROSS SOCIETY START TO COOPERATE

Noyan Tapan
Apr 05 2007

YEREVAN, APRIL 5, NOYAN TAPAN. On April 4, RA Ministry of Culture and
Youth Affairs and Armenian Red Cross Society signed a memorandum on
mutual understanding "On Cooperation Within the Framework of Program
of Creation of Regional Youth Centers." On the part of the Ministry
the document was ratified by Deputy Minister for Youth Affairs
Artur Poghosian and on the part of the Armenian Red Cross Society by
Secretary General Anna Yeghiazarian.

Deputy Minister Poghosian said that the primary goal of cooperation is
to provide involvement of regional youth in public-political processes
taking place in the country. Youth centers created in regions as early
as in 2006 will consolidate the youth around them, will implement
information-analytical, training-consultation activities aimed at
solution of problems of regional youth.

A. Poghosian emphasized that exhibitions, lectures on healthcare
and educational subjects will be periodically organized, as well
as cultural events will be held in the regions as a result of this
cooperation of the Ministry and Red Cross.

From: Emil Lazarian | Ararat NewsPress

TWO MATCHES OF QUARTER FINAL OF ARMENIAN FOOTBALL CUP TOURNAMENT TAKE PLACE

Noyan Tapan
Apr 05 2007

YEREVAN, APRIL 5, NOYAN TAPAN. First matches of quarter final of
Armenian football cup tournament took place on April 5. Ashtarak’s
Mika defeated Gyumri’s Shirak with a score of 4 to 1 and Yerevan’s
Banants defeated Yerevan’s Kilikia with a score of 5 to 1.

Pyunik (Yerevan) – Bentonit (Ijevan) and Ararat (Yerevan) – Ulis
(Yerevan) matches are scheduled for April 6.

HSBC HOLDINGS PLANS TO INCREASE INVESTMENTS IN ARMENIAN ECONOMY

Arminfo
2007-04-05 17:50:00

HSBC Holdings is planning to increase its investments in the Armenian
economy, Head of International of HSBC Bank Armenia Jonathan Crichton
said during a press-conference today.

Crichton noted that HSBC Holdings gives preference to markets with
developed economic basis, particularly, Russia, Poland, the Czech
Republic, Slovakia, Hungary. As regards Armenia, it has high capacities
and HSBC Holdings can no longer imagine its further progress without
the support of its Armenian partners – the employees of HSBC Bank
Armenia and its clients.

In his turn, HSBC CEO Tony Turner said that during the first years of
its work in Armenia the bank was seriously criticized for passivity
but, in fact, it was studying the market and its prospects, assessing
risks and acquiring experience. In the last two years the bank has
substantially increased the amount of crediting due mostly to stable
economic growth in Armenia (13.5% in 2006). Turner noted that,
considering the big share of construction in GDP growth, the bank
has decided to increase its mortgage credit portfolio: in 2006 HSBC
Bank Armenia showed the highest index in this sector – 10.4bln AMD
($28.7mln)

Today, the bank is among the leading creditors in Armenia – due to
the colossal resources of HSBC Holdings – and is ready to further
increase its investments in the country’s economy. One of the key
priorities of the bank in Armenia is further development of its branch
network. This year the bank is planning to open 3 new branches as
well as 21 bancomats.

To note, in 2006 HSBC Bank Armenia showed the biggest net profit in
the banking sector of Armenia – 2.856bn AMD or $7.9mln. The bank was
the leader in mortgage crediting and showed high growth in banking
retail – $39mln of $98mln were lent through banking retail.

According to the Ranking of the Commercial Banks of Armenia by the
Agency of Rating Marketing Information (ArmInfo), as of Jan 1 2007
the bank’s capital totalled $19.8mln (5th place), assets – $220.6mln
(1st place), crediting – $85mln (3rd place), amount of deposits by
individuals – $103.4mln (1st place).

HSBC BANK ARMENIA INTENDS TO INCREASE ITS ADVANCES PORTFOLIO BY 30% FOCUSING ON BUSINESS CREDITING IN 2007

Arminfo
2007-04-05 18:42:00

In 2007, the HSBC Bank Armenia is going to increase its advances
portfolio by 30% to $130 mln at the mean. The bank intends to
focus on issuing business credits which make up less than 5% of the
advances portfolio, the Chief Executive Director of the HSBC Bank
Armenia, Tony Turner, said at today’s press-conference devoted to
the inauguration of a new head office in a high-class new building
in the center of Yerevan. The Chief Financial Director of the bank,
Rouzanna Shahinyan, emphasized that the advances portfolio of the
bank increased by 40% in 2006. She noted that in 2007 the HSBC Bank
Armenia is going to enlarge its services in the sphere of mortgage
credit lending where the bank holds the leading positions, as well as
to introduce a number of new services such as crediting of construction
and repairs. T.Turner attached much importance to the fact that the
bank is gradually reducing the credit rates to 11% yearly interest at
the mean, moreover, it introduces a mechanism of crediting at floating
rates. In this connection, he expressed confidence that the interest
rates will be dropping in the country.

In 2006, the HSBC Bank Armenia demonstrated the highest level of net
profit – 2.856 bln AMD ($7.9 mln). Answering ArmInfo correspondent’s
question about the decisions of today’s annual meeting of the bank’s
shareholders, including the issue of dividends, the head of the HSBC
Bank Armenia pointed out that traditionally and "historically" half
of the profit is spent on dividends before taxation. The bank issued
1.4 bln AMD as dividends to the shareholders in 2005, and effected
intermediate payments worth 500 mln AMD in 2006. In total, since 1999
(the bank has been operating in the Armenian market since 1995) its
shareholders representing the HSBC international banking giant (70%)
and the Wings Establishment companies of Vache Manoukyan, a British
entrepreneur (30%), have received $21 mln as dividends. To note, the
HSBC Bank Armenia demonstrated a high growth of banking retail, its
share currently being 40% of the total volume of credits issued. In
T.Turner’s opinion, the banking retail services are increasing at
such high rates that this ratio may change in a year.

The HSBC Bank Armenia pays special attention to the retraining of bank
specialists. Every year about 6-8 people from the middle management
attend training courses in London and other countries. Training courses
are also held in Yerevan with participation of foreign specialists.

According to the Ranking of the Commercial Banks of Armenia by the
Agency of Rating Marketing Information (ArmInfo), as of Jan 1 2007 the
bank’s capital totalled $19.8 mln (5th place), assets – $220.6 mln
(1st place), crediting – $85 mln (3rd place), amount of deposits by
individuals – $103.4 mln (1st place).

INCOME FROM TOURIST ACTIVITY IN ARMENIA IN 2007 MAY GROW TO 2,1% OF GDP: INTERNATIONAL EXPERTS

Arminfo
2007-04-05 18:26:00

By estimations of the "International Tourism Council", the income
from the tourist activity in Armenia in 2007 may increase to 2.1%
in GDP structure that is a sufficient growth over the last 10 years,
ArmInfo was told in the Office of the "Competitive Armenian Private
Sector" Programme (CAPS) under USAID financing. To note, Armenia’s
GDP volume in 2007 is forecasted at a level of 2.922.4 bln drams.

According to the source data, the growth is forecasted for the
following years as well. The specialists of the CAPS Programme,
who carry out a number of investigations in tourism in Armenia, have
come to a conclusion that an adventure tourism is mainly developed
in the republic, which is attested by 63% of respondents, having
been interrogated by the market experts of CAPS during a tourist
exhibition "World Travel Market" in London in November, 2006. The
popularity of this kind of tourism in Armenia is connected with
the country’s mountain topography and availability of cultural and
historical monuments in mountains. In the opinion of CAPS specialists,
the Armenian community of the USA is the most important segment of
Armenia’s internal tourism. The polls have shown that over half of
the Armenians, living in the USA, have a great desire to visit Armenia
within the next five years. The research was carried out in January,
2007, in the USA.

The more detailed information about other research, which are carried
out by CAPS jointly with RA Ministry of Trade and Economic Development
and the Armenian Tourism Development Agency, will be available during
the International Forum titled "Competitiveness of the National
Tourism" to be held in Yerevan on April 11-12.

ROBERT KOCHARIAN AND VLADIMIR RUSHAYLO DISCUSS ISSUES RELATED TO OBSERVATION OF PARLIAMENTARY ELECTIONS

Noyan Tapan
Apr 05 2007

YEREVAN, APRIL 5, NOYAN TAPAN. On April 5, RA President Robert
Kocharian received CIS Executive Secretary, head of CIS observation
mission at Armenian parliamentary elections Vladimir Rushaylo.

According to the report provided to Noyan Tapan from RA President’s
Press Office, they discussed issues related to observation of
elections’ preparatory stage and the electoral process at the meeting.

They also touched upon the events to be held in the future within
the framework of CIS and their agenda.

RA NEWLY APPOINTED PRIME MINISTER SERGE SARGSIAN’S FIRST MEETING WAS WITH CIS EXECUTIVE COMMITTEE’S CHAIRMAN-EXECUTIVE SECRETARY

Noyan Tapan
Apr 05 2007

YEREVAN, APRIL 5, NOYAN TAPAN. During the April 5 meeting with RA Prime
Minister Serge Sargsian, CIS Executive Committee’s Chairman-Executive
Secretary Vladimir Rushaylo, who is in Armenia on a working visit,
emphasized with pleasure that S. Sargsian’s first meeting on RA Prime
Minister’s post takes place with him.

"We know you well and we know you as a person who held responsible high
posts, who has a great experience in the state government system. We
are sure that you, dear Mr Sargsian, will be able to do with honor
and to solve efficiently all problems the Armenian government is
faced with," V. Rushaylo said.

Then V. Rushaylo informed the newly appointed Prime Minister about the
work done in the direction of carrying out CIS observation mission in
connection with the parliamentary elections in Armenia. He said that
in CIS Executive Committee they have sufficient information about the
preelection atmosphere in Armenia. V. Rushaylo expressed the hope
that during the whole process of work the observation mission will
be supported by RA government.

In response S. Sargsian assured that RA government is ready to continue
cooperation by constructive spirit and if necessary, within the limits
of its powers, to provide assistance to observation missions.

During the meeting they also spoke about elaboration of draft
conception of further reforms in CIS, preparation activities of sitting
of Council of CIS Foreign Ministers to be held on April 25 in Astana
and sitting of Coordinating Consultation of bodies cooperating in
the sphere of fighting crime, as well as Armenia’s participation in
the above mentioned events.

As NT was informed from RA government Information and Public Relations
Department, during the talk they also touched upon issues connected
with the holding of the regular sitting of Council of CIS governments
heads to be held on May 25 in Yalta.

V. Rushaylo spoke with satisfaction about Armenia’s active
and interested participation and efficient work in integration
processes taking place within the framework of CIS. S. Sargsian in
this connection emphasized that Armenia is objectively interested in
successful process of CIS reforms, in strengthening and development
of cooperation and will continue to take an active part in these
processes.

From: Emil Lazarian | Ararat NewsPress