Month: September 2008

BONDS OF VALLETTA CJSC’s THIRD TRANCHE LISTED ON ARMENIAN STOCK EXCHANGE

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. Registered coupon bonds of Valletta
CJSC were listed as Bbonds (lowest category) on the Armenian Stock
Exchange (ASE) on September 25, 2008. The company’s 10 thousand bonds
of the nominal value of 50 thousand drams (about 165.6 dollars) each
were listed. They have 36 months’ redemption period and an annual
coupon yield of 11%. The bonds have an abbreviation VALTB3 on ASE.

The first two tranches of Valletta’s corporate bonds with an annual
coupon yield of 10.5% (to be redeemed in 2009) – VALTB1 and VALTB2
are also listed on ASE now.

Valletta CJSC () operates in various spheres of
business, including food production, wholesale and retail trade,
sale and service of domestic appliances, and a network of public
catering facilities and entertainment centers.

ARMAVIR BRANCH OF CONVERSE BANK RE-OPENS IN ARMAVIR MARZ

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. Armavir branch of Converse Bank
CJSC re-opened in Armavir marz (province) on September 29. The bank’s
shareholders – the famous Argentinean Armenian businessman Eduardo
Eurnekian and the governor of Armavir marz Ashot Ghahramanian were
present at the re-opening ceremony.

In the words of Converse Bank’s CEO Ararat Ghukasian, after
being reconstructed in a modern style, Armavir branch will render
comprehensive banking services to local residents. He attached special
importance to provision of agricultural loans. According to him,
the bank pays great attention to the development of agriculture,
and with this aim a large-scale program on agricultural financing is
being done in all Armenian marzes, under which farmers receive loans
at low interest rates.

A. Ghukasian said that Converse Bank cooperates with the World
Bank by implementing a project on economic development of rural
areas. In particular, under the Millennium Challenge Corporation’s
Water-To-Market Activity, loans of a total of 500 thousand dollars
were given to farmers. A. Ghukasian stated that the project will have
continuous character.

In response to reporters’ question, A. Ghukasian said that the current
developments in international markets, particularly in the U.S,
Europe and Russia will hardly have an impact on Armenia’s banking
system. In his words, the consequences will be felt in Armenia later,
but "no sudden blow" to the country’s economy and banking system is
expected because Armenia-based banks do not use securities, due to
which the international financial market is in today’s situation.

GAS SUPPLY OF ARMENIA TEMPORARILY CUT OFF

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. With the aim of increasing the
carrying capacity of the North Caucasus – Transcaucasia gas pipeline,
a necessity arose to replace the 500-mm pipes ensuring gas supply
over the Khram River in Georgia by 1000-mm pipes. The work is being
done with funds of ArmRusgazprom CJSC by Georgian construction
organizations.

During the work, the natural gas supply of Armenia has been temporarily
cut off. Armenia’s gas supply is currently ensured from the reserves
of the Abovian underground gas storage.

NT was informed by ArmRusgazprom CJSC that there are no restrictions in
the gas consumption market. The construction work will be completed
late September 29, after which the gas supply will resume in its
full volume.

ARMENIA TO RECEIVE 3 MILLION EUROS UNDER FOOD SECURITY PROGRAM OF EUROPEAN COMMISSION

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. Armenia will be allocated 3 million
euros under the Food Security Program (FSP) of the European Commission,
NT was informed by the Armenian Mission of the European Commission.

The FSP is an istrument for keeping a balance of payments and state
budgetary assistance in Armenia. It has provided assistance to
Armenia’s state budget since 1997 (1996 FSP). Until now 10 annual
programs have been implemented, under which grants of 96.5 million
euros of direct budgetary assistance have been provided to Armenia
and 5.5 million euros has been allocated for technical assistance
and implementation.

The goals of FSP are in line with Armenia’s Poverty Reduction Strategy
Paper and aim to support the efforts of the government and society
to reduce poverty through sustainable economic growth and development
and ensure the process of reforms in agriculture.

A special goal of the program is to support the Armenian government
with improvement of the planning, management, servicing and efficient
implementation of state programs, and with provision of agricultural
services aimed at reducing food shortage, in particular, raising the
efficiency of livestock farming and phytosanitary policy.

With this new 3 million euro program, the total contribution of the
FSP to Armenia’s development will make 105 million euros.

From: Emil Lazarian | Ararat NewsPress

SARALANJ HIGHWAY TO EASE TRAFFIC IN DOWNTOWN YEREVAN PUT INTO OPERATION

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. Saralanj Highway was put into
operation in Yerevan on September 29. The highway links Kentron and
Arabkir communities without traffic-light regulating crossroads,
reaching as far as Davitashen Bridge. Saralanj highway’s entrance is
ensured by a 186-meter tunnel that begins at Myasnikian Avenue. The
construction of the highway started 3 years ago with about 6
billion drams allocated by Armenian American Kirk Kirkorian’s Lincy
Foundation. A two-level transport passage, which ensures an entrance
into the highway and links Abovian Grove to Myasnikian Avenue,
was also put into operation. The total length of the passage is
220 meters, including a 44-meter tunnel section. 1.3 billion drams
of state budgetary resources was allocated for its construction. It
will allow to ease traffic congestion at the crossroads of Yerevan’s
Abovian-Myasnikian and Heratsi Streets.

The opening ceremony was attended by the RA president Serzh Sargsyan,
the former president Robert Kocharian, ministers and other high-ranking
officials. In the words of Yerevan mayor Yervand Zakarian, Saralanj
Highway is the first freeway bypassing downtown Yerevan, which is
an alternative to busy Baghramian Avenue, Abovian Street, Khanjian
Street and several other streets full of traffic. "The operation of
Saralanj Road solves the problem of easing traffic in Yerevan because
vehicles moving from the city’s north to its south and in the opposite
direction will no longer pass through the center of Yerevan," the mayor
said. In connection with the elimination of traffic-light regulation,
construction of an overground pedestrian crossing has already began
in Heratsi Street and will finish by late 2008. The road construction
work in Ayrarat Cinema – Heratsi Street section will also finish
by late 2008, ensuring a free movement of traffic along the Getar
River’s bed to Saralanj Highway up to Davitashen Bridge.

During a talk with reporters Serzh Sargsyan attached importance
to the programs on road construction and school construction. He
also spoke about his recent visit to the U.S. which he assessed as
normal. In his words, the warmest and most moving meeting was that
with the Armenian community: "I told them that we must be tolerant and
competitive and that our power is in our diversity." The president
said that the power of the local Dispora is felt: "I was just proud
that we have some compatriots who represent force and power in the
world’s most powerful state."

"FRUITFUL ARMENIA" AND "ARMAGROFORUM" FORUMS TO BE HELD IN ARMENIA FROM SEPTEMBER 30 TO OCTOBER 2

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. The RA Ministry of Agriculture with
the support of the Argentinean Armenian businessman Eduardo Eurnekian
will hold "Fruitful Armenia" and "Armagroforum" joint international
forums in Yerevan on September 29 – October 2. Foreign experts in
agriculture, Diasporan Armenian businessmen and ambassadors accredited
to Armenia will participate in the forums.

The RA Minister of Agriculture Aramais Grigorian said at the
September 29 press conference that the purpose of the forums is
to develop cooperation with foreign companies and the Diaspora
and to encourage direct links betweem local producers and foreign
commercial organizations. According to him, the work done in Armenia’s
agricultural sector so far, as well as the prospects and directions
of developing rural communities in our country in the next 5 years
will be presented at the forums.

The minister said that thanks to the previous forums, Armenian
agricultural processing companies are cooperating closely with
representatives of agricultural sectors of China, Thailand, India,
Argentina, the U.S, the CIS and Baltic states. "Such forums are of
great importance to us because they will allow us to achieve the
development of the Armenian agriculture and raise the level of food
self-sufficiency by using the experience of developed countries,"
he stated.

An interenational conference with the participation of rectors and
scientists from agricultural universities of CIS countries will
take place during the forums at the Armenian State Agricultural
University. Trips to farms and food industry enterprises will be
organized for conference participants. Besides, at the invitation of
E. Eurnekian, the famous composer Alisa Terzian will give a concert,
while the world-famous tennis player David Nalbandian will conduct
tennis master classes within the framework of the forums in Armenia.

LADIES’ AID OF HOLY CROSS CATHEDRAL TO HOST CHARITY BAZAAR

Noyan Tapan

Se p 29, 2008

MONTEBELLO, SEPTEMBER 29, ARMENIANS TODAY – NOYAN TAPAN. The Ladies’
Aid of the Holy Cross Cathedral will be hosting its annual Charity
Bazaar on November 2. Jewelry, handbags, perfumes, Christmas items,
and many more gifts will be offered for sale. Delicious Armenian food
will be provided.

REGIONAL DENTAL CENTER ENVISAGED TO BE FOUNDED IN ARMENIA

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. A Regional Dental Center is
envisaged to be founded in Armenia. As Levon Grigorian, the Chairman
of the Association of Dental Clinics Doctors of Armenia NGO, said
at the September 29 press conference, the center will serve clients
not only from Armenia and from the region, but also those arriving
from remote countries. According to L. Grigorian, dental services
are 2-5-fold cheaper in Armenia as compared with the U.S., European
countries, and Russia.

According to the NGO Chairman, work aimed at creating the center will
start in 2009 and will end in 2012. An agreement has been signed
between the Association and the Medical University of the city of
Brussels, Belgium for the purpose of assisting that work. According
to it, modern equipment will be placed and put into operation in
the center with the help of Belgian specialists, trainings will
be organized at the center. L. Grigorian said that international
conferences and meetings will be organized at the center.

From: Emil Lazarian | Ararat NewsPress

CONFERENCE UNDER TITLE ARMENIA AND BULGARIA: PAST, PRESENT, FUTURE OPENS AT YSU

Noyan Tapan

Se p 29, 2008

YEREVAN, SEPTEMBER 29, NOYAN TAPAN. A two-day conference under the
title Armenia and Bulgaria: the Past, the Present, the Future opened
on September 29 at Yerevan State University within the framework
of the Cooperation Agreement signed between State Universities of
Yerevan and Sofia last year.

Yerevan State University Rector Aram Simonian gave assurance
that this conference is one more important step in development
of Armenian-Bulgarian relations, He said that over the past two
years YSU has signed agreements with two Bulgarian Universities,
and Bulgarian has been studied for the third year at the Russian
Philology Department of YSU.

Thodor Staikov, the Ambassador Extraordinary and Plenipotentiary
of Bulgaria to Armenia, said that the conference will contribute to
strengthening of centuries-old friendly contacts between the Armenian
and Bulgarian peoples.

"The Armenian and Bulgarian peoples have made friends from time
immemorial, and that friendship develops year by year. Now our goal is
to improve Armenian-Bulgarian literary, cultural, as well as political
relations. This conference is a step outlining the very relations,
determining their future direction," the Bulgarian diplomat said.

According to Eduard Militonian, the Head of the Publishing Work
Agency of the RA Ministry of Culture, today it has become necessary
to strengthen especially literary contacts, and mutual translation
activity is an important precondition for it. "Intensive meetings
need to be organized between Armenian and Bulgarian publishers for
that purpose," he is convinced.

Reports regarding the important episodes of history of the Armenian
and Bulgarian peoples, their cultural relations, as well as Armenians
who settled in Bulgaria were given during the conference.

FEDERATION OF ARMENIAN ORGANISATIONS IN THE NETHERLANDS DEMANDS THAT UNIVERSITY PROGRAMME WITH TURKEY SHOULD BE STOPPED

Noyan Tapan

Se p 29, 2008

THE HAGUE, SEPTEMBER 29, ARMENIANS TODAY – NOYAN TAPAN. The Federation
of Armenian Organisations in the Netherlands (the FAON) demands that
the exchange programme of the country’s Erasmus University with Turkey
should be stopped.

According to a recent article published in Dutch daily newspaper
Trouw, students of the Erasmus University, following an exchange
programme with Turkey, are obliged to attend a four days’ course
with a programme, which includes, among others, such subjects as
the denial of the Armenian Genocide and the Turkish point of view
on Cyprus. In this connection the FAON has protested to the Dutch
Minister Ronald Plasterk of Education, Culture and Science demanding
that the mentioned programme should be stopped.

The FAON emphasises that Turkey, as a candidate state for EU has
absolutely not shown any progress in the field of the recognition
of the Armenian Genocide. There is still no freedom of expression
about the Armenian Genocide. Even now under the amended Article 301
of the Turkish Penal Code, prosecution still takes place of people,
who speak about the Armenian Genocide.