Month: August 2008

TURKEY CARRIES OUT DIALOGUE WITH RUSSIA ON BALANCE OF ARMED FORCES IN CAUCASUS

arminfo
2008-08-20 14:37:00

ArmInfo-TURAN: Turkish Premier Recep Tayyip Erdogan will discuss the
idea of the "Caucasian House" in Baku, Geybulla Ramazanoglu, Advisor
of Turkish Premier, said in his interview to Voice of America (VOA).

The main idea of the "Caucasian House" is to safeguard security in
the region. This is political, economic and ethical matter.

"The idea of "Caucasian House" has been first forwarded by Turkish
ex-President Suleyman Demirel, but discussion has not brought
specific results. Now Mr. Erdogan would like to put it into practice,"
Ramazanoglu said.

The Caucasian House is supposed to be comprised of Turkey, Azerbaijan,
Georgia, Armenia and Russia. In the future number of the Caucasus
House’s participants can be expanded, said Ramazanoglu. He also
added that Ankara carries out dialogue with Moscow on balance of
armed forces in the Caucasus.

ISG INSURANCE TAKING INTEREST IN FINANCIAL RISK INSURANCE

arminfo
2008-08-20 14:46:00

ArmInfo. ISG Insurance Company plans more active involvement in
the financial risk insurance segment. ISG Executive Officer Artak
Antonyan told ArmInfo that in July to reinsure financial risks,
the company made an exclusive contract with the largest Ukrainian
insurance company Lemma with (Ð~B.Ð~J.Best B+ (good)) rating that
meets Armenian Central Bank standards.

ISG Insurance Company has licenses for insurance of financial risks
and guarantee provision. A. Antonyan said the company plans to get
another license at the end of the 3rd quarter to insure credits. The
banks will be offered the most favorable cooperation terms in the
market, he said. A. Antonyan underlined that the aggregate premiums
from insurance of the group of financial risks for the 3rd qt will be
ensured through insurance of provided guarantees. The company plans
30 mln drams financial risk insurance premiums especially after it
has already made 50 insurance contracts over Jul-Aug 2008. Ranking
of Armenian Insurance Companies prepared by the Agency of Rating
Marketing Information (ArmInfo) says ISG took the 1st position among
ten operating insurance companies in Armenia by 1.542 bln drams
insurance premiums for the 1st half of 2008. The premiums were from
insurance of the group of aviation risks.

–Boundary_(ID_XXLJcaSyPFHVS9R/STZP7g)–

VTB OVERCOMES ALL OBSTACLES TO THE PURCHASE OF AZERI BANK

arminfo
2008-08-19 20:31:00

ArmInfo. VTB has overcome all obstacles to its entry into the Azeri
banking market, says the commercial representative of Russia in
Azerbaijan Yuri Schedrin.

He hopes that by the end of this year VTB will be permitted to buy
the shares of an Azeri bank.

Trend news agency reports that VTB is planning to buy a controlling
stake in AF Bank. A source from the National Bank of Azerbaijan says
that they are considering VTB’s offer. They in VTB expect the deal
to be made in the autumn.

Earlier, RosFinCom agency (Moscow) reported with reference to
the press service of VTB that the Supervisory Board of VTB Bank
Armenia had decided to close its branch in Stepanakert, the capital
of Nagorno-Karabakh Republic. VTB has inherited the branch from
ArmSavingsBank.

RosFincom said that the existence of a branch in Stepanakert was
problemaic due to the though attitude of the Azeri authorities
towards companies having contacts with Nagorno-Karabakh. ArmInfo’s
correspondent has failed today to contact the press service and the
management of VTB Bank Armenia for verifying this information.

ARKA NEWS AGENCY RELEASES PRESS RATING OF ARMENIAN BANKS FOR 2ND Q 2008

ARKA
Aug 19, 2008

YEREVAN, August 19. /ARKA/. ARKA News Agency has released a press
rating of Armenian banks for the 2nd Q 2008.

Four leaders – HSBC Bank Armenia, Armeconombank, Araratbank, VTB
Bank Armenia – were named in the news agency’s ranking against five
in Apr/June 2007.

The analysis of the press shows that despite banks’ press releases
were few in the second quarter (4.8% fewer, compared with the same
quarter of 2007), they saturated with interesting information.

The share of negative information reduced from 3.4% in the second
quarter of 2007 to 2.5% in the same quarter this year.

Some topics dominated the press releases and their share in the
information received in the 2nd Q 2008 grew as compared with the same
quarter a year earlier. Information about bank development policy
grew from 22.2% in the 2nd Q 2007 to 30.7% and that about personnel’s
economic forecasts and opinions grew from 2.5% to 8%.

Unlike these topics, broad information reduced from 47% to 40%, banks’
figures from 21% to 17.3% and clients and services 7.3% to 4%.

According to ARKA News Agency’s press rating for Apr/June 2008, HSBC
Bank Armenia showed indices 58.94 and 238.33 on general information
and development policy.

VTB Bank (Armenia) provided the more information on clients and
services than other banks. Its index w as 15.36.

Araratbank paid greater attention to figures than other banks
(index 92.28).

Armeconombank outdid other banks in highlighting economic forecasts
and opinions (17.92).

Three banks issued information on all the mentioned topics, the same
as in the second Q 2007.

The press rating is based not on financial and economic indicators,
but on the facts of banking activity covered in the press.

The more comprehensive the information provided by banks, the more
effective their communicative policy.

In its analysis, the news agency doesn’t use the information from
banks’ advertisements.

More detailed information is available in Press Rating of Banks
bulletin #03 (38) for the 2nd Q 2008.

CONSTRUCTION OF UNDERGROUND PARKING FACILITIES TO BE LAUNCHED IN YEREVAN IN SEPTEMBER

ARKA
Aug 19, 2008

YEREVAN, August 19. /ARKA/. The construction of the first underground
car parking areas in Yerevan is to be launched in September, Yerevan
Nakhagits Institute Director Gurgen Musheghyan said at a press
conference on Tuesday.

The parking areas will be built in the centre of the city.

The city authorities are planning to build underground parking places
for 10,000 cars.

Musheghyan said that the underground parking facilities will relieve
streets from cars.

The municipality decided to build parking places under Republic Square,
Myasnikyan Square and other sites.

Later, such facilities will be constructed even under some yards.

ARMENIA EXPORTS OVER 7,244 TONS OF APRICOTS THIS YEAR

ARKA
Aug 19, 2008

YEREVAN, August 20. /ARKA/. Armenia exported over 7,244 tons of
apricots this year, mainly to Russia, Ukraine and some European
countries, the Head of Farming Development Department of Armenian
Ministry of Agriculture Gagik Manucharyan said.

According to the Ministry, apricot harvest reached about 80,000 tons
this year – 60,000 tons more than last year. Apricot exports were
780 tons only in 2007.

"There were no problems with export of apricots as a prompt response
office was operating," Manucharyan said adding that the office provided
prompt response to all problems related to export and purchase. The
office received thirty reports over the period, he said.

A total of 7,560 tons of apricots were purchased, by processing
companies among others.

Armenia provided high export level on a number of crops this year due
to high stable harvest, as compared with last year when spring frosts
caused considerable damage to crops and apricots in particular.-0–

BRANCH LINE UNDER REPAIR TO RESUME FREIGHT TRANSPORTATION FROM GEORGIA TO ARMENIA

ARKA
Aug 20, 2008

YEREVAN, August 20. /ARKA/. Armenian specialists, together with
their Georgian colleagues, carried out repair works at a branch line
bypassing the damaged section of Gori-Tbilisi railroad, the Ministry
of Transport reported.

As from August 17 a group of Armenian specialists participates in
repair of the railway bridge 40 kilometers away from Gori toward
Tbilisi. The bridge was blown up on August 16.

The decision to repair the bypass branch line was made to resume
freight transportation to Armenia as soon as possible, the Press
Secretary of Armenian Ministry of Transport Susanna Tonoyan said in
her interview to ARKA Agency. Armenian specialists completed their
work and are currently returning to Yerevan. The repaired branch line
is being tested now, she said.

"The new branch line goes in parallel with the old one without
extending the cargo travel line," Tonoyan said. Yet, she refrained
from mentioning the exact date of commissioning of the new railroad
line saying that details will come out after the group of Armenian
specialists is back to Yerevan.

The Press Secretary also pointed out that the number of stuck railway
cars with cargoes (72 cars) for Armenia did not grow over the days
of demurrage.

According to the Ministry of Transport, shipping companies delivered
62 cars of various cargoes to Armenia on=2 0August 16 – before the
bridge was blown up.

UNHCR: THE FLOW OF ARRIVALS TO ARMENIA SUCCESSFULLY CONDUCTED

Panorama.am
14:12 20/08/2008

The conflict in Georgia resulted in a substantial population movement
to the neighboring Armenia. Following the conflict a joint mission
of the State Migration Agency of the Ministry of Territorial
Administration and UNHCR was carried to out to all three border
crossing points to assess the situation of new arrivals in Armenia.

Border entry figures for the first 10 days after the conflict in
Georgia indicate that from 8 – 18 August 2008, a total of 10,730
foreigners entered into Armenia at Bagratashen, which is only one of
the three main entry points into Armenia from Georgia. In comparison
to the flow of foreigners entering Armenia in a normal situation,
only three days prior to the conflict i.e. from 5-7 August 2008, 400
foreigners crossed the border at Bagratashen. Following the conflict
the figure has increased by more than 10 times, which is a dramatic
increase in the flow of foreigners into Armenia. Some foreigners
also used Armenia as a transit country to travel onwards to their
home countries.

The Armenian branch of Office of the UN High Commissioner for Refugees
reports that New arrivals are predominantly Georgian citizens of
Armenian ethnicity, among them a large majority is women and children
who fled to stay with extended family members and friends in Armenia,
fearing a worsening security situation in Georgia. Among the newly
arrived foreigners, there are Georgian and Russian citizens of Georgian
and Armenian ethnicities, mainly originating from Tbilisi, Gori and
South Ossetia, as well as other nationals, largely from diplomatic
community and other international organizations.

The United Nations Country Team in Armenia established a Task Force
chaired by UNHCR comprising UNICEF, UNDP, WFP and WHO to join
efforts with the Government of Armenia to assess the population
movement to Armenia as a consequence of the Georgia situation
and prepare a contingency plan. The effort of the UN Country Team
intends to complement the response capacity of the Government of
Armenia to humanitarian assistance needs that may arise. Thus far, the
Government of Armenia has a functioning system on the ground and border
authorities have handled the mass flow of new arrivals efficiently.

MEASURES ARE TAKEN TO IDENTIFY THE PERSON BEATING HRACH MELQUMYAN

Panorama.am
15:47 20/08/2008

On 19 August the deputy-director of radio station "Azatutyun"
("Freedom") Hrach Melqumyan made a complain statement in the Central
department of police.

According to the official site of Police, on August 18 in Mashtotz and
Moskovyan streets crossroad park an unknown person called Melqumyan by
name then approached and hit him on the face, swearing at "Azatutyun"
radio station.

Forensic medical examination has been started. Meanwhile, in the
Investigation section of Central Police department the relevant
documents are being prepared and serious measures are taken to identify
the criminal.

CHILDREN OF ARMENIA FUND: SUMMING UP

Panorama.am
16:12 20/08/2008

"The main purpose of COAF is to reduce poverty in Armenia, and make
better conditions for children by immediate conduction of useful and
positive arrangements for kids and youth," the press secretary of
the Fund Inessa Grigoryan said during her meeting with journalists.

This year the fifth anniversary of Children of Armenia Fund, COAF
is celebrated. Summing up the work of the organization, the director
of COAF Karo Armen said that during 2004-2005 his company conducted
several programs in different areas of Armenia, among them "Model
Community" and "Model township". In the agenda of these programs was
the reconstruction of schools, nurseries and sport committee buildings.

Note that in the light of the fifth anniversary of the Fund, the
sponsors, benefactors and committee members of COAF will make a visit
to Armenia on 22-25 August. In frames of their visit an audience at
RA prime-minister residence is also expected.