Month: May 2008

AZG Armenian Daily #086, 07/05/2008

Armenia-Diaspora

RA PRESIDENT RECEIVED HSBC BANK BOARD OF DIRECTORS

President Serge Sargsian received Diaspora businessman
and philanthropist Vache Manukian and member of HSBC
Bank Board of Directors David Badd on May 5.

Issues of expansion of investment environment in
Armenia and complete usage of Diaspora potential were
discussed during the meeting.

The sides mentioned that Armenia has a big potential
which right usage may greatly promote the development
of the economy including growth in tourism volumes.

The issue of expansion of HSBC bank activity was
discussed also during the meeting.

Translated by L.H.

CORRECT USE OF ARMENIA’S POTENTIAL MAT GREATLY PROMOTE ECONOMIC
DEVELOPMENT

YEREVAN, MAY 5, NOYAN TAPAN. Problems of improvement of the investment
environment in Armenia and the full use of the Diaspora’s potential
were discussed at the April 5 meeting of the Armenian president Serge
Sargsian, the Diasporan Armenian businessman and benefactor Vatche
Manukian and the member of HSBC Bank’s board of CEOs David Budd.

According to a press release submitted to NT by the RA president’s
press service, the interlocutors said that Armenia has considerable
potential and its correct use may greatly promote the economic
development, including the growth of tourism. They also adressed the
prospects of expanding HSBC Bank’s activities in Armenia.

ARMENIA AND ITALY EXCHANGE DEEDS OF CONVENTION ON DOUBLE TAXATION
EXCLUSION AND TAX EVASION PREVENTION

YEREVAN, MAY 5, NOYAN TAPAN. The ceremony of the exchange of the deeds
of the Convention between the Armenian and Italian Governments on
Exclusion of Double Taxation with respect to Income and Property Taxes
and Prevention of Tax Evasion, which was signed in Rome on June 14,
2002, took place at the Ministry of Foreign Affairs of the Republic of
Armenia on May 5.

According to a press release of the RA MFA Press and Information
Department, the RA deputy foreign minister Arman Kirakosian and the
Italian ambassador to Armenia Massimo Lavezzo Cassinelli exchanged the
deeds.

Under the Convention, it takes effect from the day of the exchange of
the deeds, and its provisions will be in force:

a) with respect to taxes at source – regarding the sums received on
January 1st or after January 1st of the calendar year following the
year of the Convention’s taking effect,

b) with respect to other income or property taxes – regarding taxes to
be paid in any tax period that starts on January 1st or after January
1st of the calendar year following the year of the Convention’s taking
effect.

AZG Armenian Daily #086, 07/05/2008

Culture

CONCERTS IN FRESNO DEDICATED TO SAROYAN’S ANNIVERSARY

Two concerts will be held on May 10 in Fresno
dedicated to well-known writer William Saroyan’s 100th
anniversary of birth.

In the afternoon, a concert will be held in the Fresno
Art Museum with participation of musician Richard
Hakobian and his grandchildren

Fresno Community Choir will perform the same evening
in the concert hall of California State University,
"Noyan Tapan" agency reported.

Translated by L.H.

Panorama.am

17:22 06/05/2008

AMBASSADOR OF GEORGIA: `IF ARMENIA VOTES AGAINST IN UN…’

Tomorrow Georgia presents to the UN Chief Assembly
discussion an article about the status of the refugees
and violently displaced people living in Georgia. In
this regard, today the Ambassador of Georgia in
Armenia Georgi Saganelidze had a meeting with the
journalists and called on the Armenian authorities to
vote for the article. According to him the demand to
adopt such article has been created after getting
concerned by the aggressive activities of Russia.

`Russian side should be conscious of the fact that it
does not have any partners in its aggressive policy
making activities. Georgian side carries out active
foreign political activities in order colleague
countries vote for the article,’ notified Saganelidze.

He said that according to their sources Russia is
going to take initiatives against the adoption of the
article. `We heard that Armenian authorities are going
to vote against it also. And we are concerned with
that. In this regard we held discussions with Armenian
authorities but we have not got any clarified response
yet,’ he said.

`If finally Armenia votes against the document, then,
I guess, it will decrease the level of reliability
among our nations. I ask Armenian authorities and call
on them to be wise and not to harm itself and its
colleagues,’ he said.

Source: Panorama.am

IN OPINION OF TIGRAN JRBASHIAN, EUROINTEGRATION IS INSTRUMENT OF
IMPROVING ECONOMY

YEREVAN, MAY 5, NOYAN TAPAN. The European integration should be not a
end in itself for Armenia but an instrument of making efficient
economic reforms, the Armenian director of the Armenian-European Policy
and Legal Advice Centre Tigran Jrbashian expressed an opinion at the
May 5 press conference. In his words, Eurointegration is a driving
force which will allow to implement second-generation institutional
reforms in the country, that is, to form a government system able to
conduct an efficient policy in the future.

He said that a growth in European investments will be a result of
efficient reforms. According to him, in 2007 European investments in
Armenia grew by 18%, Russian investments – by 50.4% (the total amount
of investments made about 845 mln USD). Among European countries which
made considerable investments were Germany (55.3 mln USD), France (18.8
mln USD), Cyprus (16.5 mln USD) and the UK (13.5 mln USD).

Pointing out that the program of the new government is aimed at reform
making, T. Jrbashian expressed a hope that this time the envisaged
ideas will be put into practice instead of remaining on paper. At the
same time he expressed an opinion that the reforms included in the
program are belated because 2-3 years ago these reforms could have been
implemented in much more favorable conditions, whereas today, according
to him, the state has to tighten customs and tax administration on the
one hand, while on the other hand, it tries to reduce the social risks
caused by external and domestic factors. T. Jrbashian said Armenia is
facing serious challenges due to the global economic crisis and the
internal political tension. In addition, the World Trade Organization
demands that value added tax (VAT) be used in agriculture from 2009. In
the opinion of T. Jrbashian, the upcoming 12 months will be a
responsible period for the government, and the Armenian society should
conceive the difficulties to be encountered by our country.

Panorama.am

17:24 06/05/2008

MIME SHOW INTERNATIONAL FESTIVAL IN ARMENIA

`In August 10-15 Mime Show International Festival will
take place in Tsaghkadzor,’ said Zhirayr Dadasyan, the
executive director of the festival. According to him
Tsaghkadzor has been selected to hold the festival as
there are all necessary conditions for it.
`The festival has commercial missions, as many
tourists will be interested in visiting Tsaghkadzor,’
he said.

According to Arus Aramyan the coordinator of the
festival, mime groups from more than twenty countries
have already applied to them to take part in the
festival. `Many wish to participate in the festival,
but we have invited eight theater groups from Russia,
Georgia, Italy, Spain and Greece,’ she said.

The official opening ceremony of the festival will be
crowned by a march. The mime shows will be held in the
streets of Tsaghkadzor. The organizer of the festival
is Yerevan Pantomime State Theatre by the support of
the RA Ministry of Culture. 8 million drams are
disposed from the state budget to run it.

Source: Panorama.am

From: Emil Lazarian | Ararat NewsPress

NERSES YERITSIAN: STATE INTENDS TO TAKE PART IN PERSPECTIVE SMEs

YEREVAN, MAY 5, NOYAN TAPAN. The Small and Medium Entrepreneurship
Development National Center (SME DNC) of Armenia along with the Union
of IT Enterprises has launched a pilot program of assistance to small
and medium enterprisies (SMEs) of the IT sector with the aim of
ensuring a considerable growth of these enterprises and helping them to
enter the capital market, the RA minister of economy Nerses Yeritsian
stated at the "without-tie" meeting of IT sector heads in Tsakhkadzor
on May 1-3. According to him, Instigate company has received assistance
under the program.

The minister said that the state is likely to have up to 20%
participation in capital of SMEs. As regards the possibility of the
state’s participation in venture financing programs, N. Yeritsian
indicated that such steps will follow more active involvement of SMEs
in scientific developments and research. In any case, the Competitive
Armenian Private Sector (CAPS) Project financed by the Armenian
government and the USAID has taken steps to set up a venture fund with
equal shares.

The minister spoke against introduction of tax privileges, explaining
that the tax and customs legiglation provides development
opportunities. In particular, in case of an active investment policy,
companies with annual income growth of 30-40% may have to pay a small
profit tax.

It was stated that SMEs should forms the basis for correcting the
deviations of the Armenian economy, the introduction of the best
standards in the economy and the creation of opportunities to enter
international market because the companies operating in accordance with
these standards will grow and "clean the business field".

CBA BOARD RAISES REFINANCING INTEREST RATE BY 0.25% TO 6.75%

YEREVAN, MAY 5, NOYAN TAPAN. At the May 5 sitting, the Central Bank of
Armenia (CBA) Board raised the refinancing rate by 0.25%, fixing it at
6.75%.

NT was informed by the CBA press service that 1.1% inflation was
registered in April on March 2008, as a result of which 12-month
inflation made 10.7%, exceeding by about 4% the level in late 2007.

The CBA Board stated that the high inflation environment in
international food markets and the resultant pressures on domestic
prices of food commodities continue, while the degree of uncertainty of
further developments in the external environment continues to be high.
Meanwhile, the secondary impacts of the increase of food prices have
grown, increasing inflation pressure in non-food commodity and service
markets and raising inflation expectations.

The CBA Board is unanimous in its opinion that inflation pressures will
continue in the near future. The gradual tightening of the monetary and
credit conditions by the CBA aims to mitigate the secondary inflation
impacts and expectations conditioned by external developments.

Panorama.am

EVALUATING MAY HEROIC BATTLES

Today an event has been held in YSU Faculty of History
devoted to the heroic battles of Sardarapat,
Gharakilisa, Bash Aparan and Shushi. The event was
organized by the students’ scientific union of the
faculty and YSU culture center.

The dean of the faculty Hayk Martirosyan mentioned
that May Battles have their unique ideology, as only
by those battles Armenian State system and
independence have been established and protected. The
students of the faculty made speeches devoted to the
item.

Gevorg Melkonyan, YSU History Faculty student made a
speech about Gharakilisa battle. He mentioned that
though the tree-day long battle finished by the
retreat of Armenian army, the victories in Sardarapat
and Bash Aparan would not take place.

`Hence, May battles of 1918 did not only found
Armenian State and forced Turkish to recognize Armenia
as an independent state but they have become
ideologies for further victories which our soldiers
have proved in 1992 by liberating Shushi and Lachin,’
he said.

Source: Panorama.am