Month: May 2008

ARMENIANS SUFFER NO LOSSES

Hayots Ashkhar Daily
Published on May 16, 2008
Armenia

According to the representative of RA Foreign Ministry Armen Melkonyan:
"Lebanese Armenians and Armenian citizens visiting Lebanon at the
moment didn’t suffer any losses and their lives are not at danger
according to the information we possess. The only incident is the
burning of the radio station "Sevan", which was located in the building
belonging to party "Future" which is the reason why it was burnt.

But before burning the building the people inside were asked to leave
it, they were allowed to take out their equipments. After some time
the radio station restarted its work from another place."

There are several hundred RA citizens in Lebanon; most of them –
on the bases of permanent citizenship.

IT SPECIALISTS TAKE PART IN SECOND CAREER FAIR IN YEREVAN

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. The second IT career opened today in Yerevan
as part of the USAID/CAPS (United States Agency of International
Development/ Competitive Private Sector) Program in Armenia.

The aim of the event is to arrange a meeting between employers and
job seekers, said Hayley Alexander, USAID/CAPS Program executive.

On the one hand, the fair opens up good career prospects for young
IT specialists and on the other hand, it allows IT companies to fill
up staff vacancies.

About 30 local IT organizations, leading Armenian universities and
the Union of IT Enterprises (UITE) participate in the career fair.

Synopsys-Armenia, Virage Logic, National Instruments and EPG
Technologies, Synergy, Boomerang Software, as well as ArmenTel and
K-Telekom (under the VivaCell brand) offer vacancies.

Having visited the career fair, RA deputy Minister of Labor Artem
Asatryan stressed the importance of establishing contacts between
employers and job seekers. "The companies can get acquainted with
the background and skills of prospective employees, while job seekers
can get information they need," he said.

After the first IT job fair in Armenia that took place on June 22,
2007, about 20 students and graduates found a job.

Career fairs are expected to be held in Armenia’s regions, particularly
in Kotayk, Syunik and Gegharkunik.

GREAT BRITAIN TO CONTINUE ACTIVITIES IN ARMENIA, AMBASSADOR SAYS

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. Great Britain has no intention to break off
activities with Armenia, but further bilateral cooperation mainly
depend on the country’s internal political situation and economic
progress, UK Ambassador to Armenia Charles Lonsdale said during his
meeting with RA Prime Minister Tigran Sargsian.

The Ambassador assured the Premiere Great Britain is ready to assist
Armenia in the implementation of joint programs with European Union
(EU) and World Bank (WB).

Ambassador Lonsdale stressed the necessity for the balanced regional
development program in the country.

In his turn, Sargsian assured the British Ambassador that his
activities in Armenia will contribute to Armenian-British cooperation
development. To foster democracy, Armenia stipulates for serious
programs and activities to settle topical issues, the Prime Minister
said.

Sargsian was not content with the Armenian-British trade turnover
and set a stress on economic cooperation development.

Armenian-British trade turnover increased by 51.7% to $45.1mln in 2007.

Armenian exports to Great Britain last year totaled $2.8mln against
7.6mln in 2006. British imports to Armenia rose 91.2% to $42.3mln in
the reporting period.

Thanking the Ministry of International Development of Great Britain
for carrying out social reforms in Armenian regions, Sargsian said
Armenia plans to launch new cooperation programs.

The Prime Minister informed the British Ambassador the new concept
of civil service is under way. He said Armenia expects technical
assistance from Great Britain to implement this program. The Premier
assured the Ambassador Armenia will do its best to sign an agreement
with Great Britain on preventing double taxation. This may become
a serious impetus to bilateral economic cooperation, according to
Sargsian.

The participants to the meeting also discussed issues on regional
development and Armenian-Turkish relations. Sargsian confirmed that
Armenia is ready to establish diplomatic relations with Turkey without
any preconditions. He said Great Britain can play a crucial role in
this issue.

Armenian-Turkish border has been closed since 1993 on Turkey’s
initiative. This caused $500mln worth annual damage to Armenia’s
economy.

ARMENIA’S TOURIST INDUSTRY TO BE REPRESENTED IN SOCHI

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. Armenia’s tourist industry will be
represented during an Armenian-Russian info-tour in Sochi, Russia,
this September-October.

Speaking at the first Armenian-Russian business forum on tourism
and hotel business, Director of the Sochi-based Vesna hotel Asya
Khachaturyan pointed out the need for combined efforts to develop
hotel business in both countries.

She said that bilateral projects of tourist industry development will
be elaborated. "This info-tour is the best opportunity for attracting
Russian tourists to Armenia," Khachatryan said.

A group of businesswomen from the South of Russia, Tatarstan,
Abkhazia arrived in Armenia at the invitation of the Business Center
for Supporting Women. The participants in the forum, which is to last
until May 21, are to visit Armenia’s major tourist centers, namely,
Tsakhkadzor, Jermuk and Dilijan.

The Business Center for Supporting Women was founded in 2005 and
unites about 80 businesswomen.

CISCO ACADEMY TO BE FOUNDED AT RUSSIAN-ARMENIAN UNIVERSITY

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. The Cisco Academy will be founded using the
facilities of the Russian-Armenian (Slavonic) University (RAU).

Anush Begloyan, Public Relations Executive, ArmenTel Company (Beeline
brand) reported that the Academy will be founded under the auspices of
the Russian training center Cisco Systems, Moscow Technical University
of Communications and Informatics, and the RA Ministry of Transport
and Communication.

Begloyan pointed out that the initiative to found the Cisco Academy
in Armenia was advanced by the Step Logic Armenia Company.

The students of the Academy will take training courses at Beeline to
work for the company later.

Begloyan also reported that negotiations for cooperation in founding
the Academy are being held with the State Engineering University
of Armenia.

Cisco Systems, Inc. is the world leader in networking Internet
technologies.

The Cisco brand is one of the world’s most expensive brands ($19.1bln).

Cisco launched its activities in the CIS in 1995.

350.3 BLN WORTH BANKNOTES, COINS PUT INTO CIRCULATION IN LATE 2007

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. The Central Bank of Armenia (CBA) says
350.3bln drams worth banknotes and coins were in circulation in
Armenia in late 2007 54.4% increase as compared to early 2007.

The share of non-bank cash was 47.2% in total money supply last
year against 43.5% in 2006. Both cash balance and money circulation
hit a record high of 35.7% in the reporting period. Last year,
CBA territorial cash offices ensured 25.1% growth of total cash
circulation against 18.9% in 2006.

Notes for 20,000 and 50,000 drams secured cash balance growth outside
CBA, with their share rising 2.5pct and 1.8pct correspondingly.

Circulation of notes for 10,000 drams increased by 26.6% in 2007. Notes
for 5,000, 10,000 and 20,000 drams had the lion’s share in cash
circulation last year (85% against 83% in 2006).

During the reporting period, coin circulation grew 17% with 34%
increase of 500 drams. ($1 – AMD 307.58)

PRESIDENTIAL AWARDS CEREMONY TO BE HELD IN ARMENIA ON MAY 26

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. The annual presidential awards ceremony
is to be held in Armenia on May 26, the Press Service of Hayastan
All-Armenian Fund reported.

Armenian President Serge Sargsian will hand over 13 awards personally.

Armenia’s presidential award was founded in 2001 and is held every
year with the assistance of the Poghosian Fund. The award is given for
remarkable achievements in literature, painting, theatre and cinema,
architecture.

THE BANKER: HSBC BANK ARMENIA BEST BANK OF ARMENIA 2007

ARKA
May 16, 2008

YEREVAN, May 16. /ARKA/. "The Banker" magazine recognized HSBC Bank
Armenia the Bank of the Year in Armenia in 2007.

HSBC Bank Armenia showed considerable growth in all business spheres
in the period: its net profit grew by 38.5% (up to $8.7mln) and assets
increased by 38.9% (up to $220.8mln), the bank’s press service reports.

The Banker points out that the bank has the largest amount of attracted
deposits and assets.

According to the report, HSBC Bank Armenia has intensified commercial
lending, particularly consumer loans, car loans and mortgage. In
2006-2007 the bank started offering new services – credit cards,
renewable credit lines, and etc.

HSBC Bank Armenia closed joint stock company – a daughter bank of HSBC
Banl plc – was registered on September 25 1995. HSBC Bank plc owns 70%
of the shares of HSBC Bank Armenia with the remaining 30% belonging
to foreign Armenian investors. The bank has 10 branches in Yerevan.

Currently HSBC Bank Armenia is among the leaders in terms of basic
indicators of banking activities. Particularly, the bank ranks fourth
in terms of the total capital by the end of the first quarter, second
– in terms of assets and the third in terms of credits extended and
other borrowings. As regards deposits attracted from individuals and
legal entities the bank is the leader among other banks and ranks first
also in terms of retained balance income on the capital account. The
bank ranks third in terms of profit.

The bank’s assets had totaled 101.1bln drams and the banks’ capital
had totaled 12.6bln drams by March 31. The bank’s profit was 841.3mln
drams in the first quarter and the balance profit was 9.6bln drams
on the capital account. ($1=307.58drams).

SCHIFF INTRODUCES BILL CALLING FOR THE END OF TURKEY’S BLOCKADE OF ARMENIA

arminfo
2008-05-16 16:40:00 Rep.

ArmInfo. Rep. Adam Schiff (D-CA) introduced legislation today calling
on the President and Secretary of State to urge Turkey to lift its
15 year blockade of Armenia and outline concrete steps taken by
the Administration in that effort, reported the Armenian National
Committee of America (ANCA.)

Titled the "End the Turkish Blockade of Armenia Act," the legislation
notes that "Turkey’s ongoing blockade of Armenia does not promote
regional security and prosperity, thereby undermining the short-term
and long-term policy objectives of the United States." It goes on to
cite that the "Department of State has estimated that the blockade is
inflating Armenia’s transportation costs by between 30 and 35 percent,
thereby stifling its trade and economy." The resolution, in addition to
calling for the immediate lifting of Turkey’s blockade, would mandate
that the Secretary of State "submit to Congress a report that outlines
the steps taken and plans made by the United States to end Turkey’s
blockade of Armenia," within thirty days of the bill’s passage.

SASUN MIKAELIAN: LET NO PERFIDIOUS CREATURE CHERISH A HOPE

Noyan Tapan

Ma y 16, 2008

YEREVAN, MAY 16, NOYAN TAPAN. Sasun Mikaelian – National Assembly
deputy, commander of "Sasun" detachment who was arrested under the
criminal case opened in connection with the March 1 events, appealed
to residents of the city of Hrazdan to vote for Mesrop Mesropian at
the May 25 election of Hrazdan mayor. "By making a corrent choice and
defenting your votes, you will reject tomorrow’s servility, flattery,
corruption and unlawfulness," is said in the May 15 message of Sasun
Mikaelian to residents of Hrazdan.

In the indicated election, M. Mesropian’s rival is the current
mayor of Hrazdan, head of the Hrazdan territorial organization of
the Repulican Party of Armenia (RPA) Aram Danielian. The RPA, which
endorses A. Danielian, on May 14 expelled from the party M. Mesropian
for running in the election and violating the requirements of the
party regulations. In his message, the NA deputy also calls on his
comrades-in-arms and co-thinkers to unite and prevent the election
from being rigged. "Don’t be afraid, defend the people’s right of free
vote so that tomorrow we can look frankly in each other’s eyes. And
let no perfidious creature cherish a hope that I and those like me
will remain in prison for a long time as our cause is a just one,"
is stated in Sasun Mikaelian’s message.