Month: October 2008

WIMAX BROADBAND WIRELESS INTERNET SERVICE LAUNCHED IN ARMENIA

Armenian Reporter
October 25, 2008
Armenia

Dimitry Medvedev and Serge Sargsian at WiMax. president.am

Comstar – United TeleSystems (a component of AFK Sistema) Armenian
project – a national telecom network, Comstar-OTS was launched in
Yerevan with the participation of Russian President Dimitry Medvedev
and President Serge Sargsian on October 21. According to company
officials the network will offer WiMax broadband wireless Internet
service in Yerevan and another 18 cities throughout Armenia. This
telecommunication system is beneficial to countries like Armenia
which has difficulty with access to services because of its geographic
location.

According to Mediamax, president of Comstar-OTS, Sergey Pridantsev at
a news conference said that this network is not only unique in Armenia
but "one of the first telecommunication networks of its kind in the
world." The company has already invested $4.6 million in Armenia for
this service.

According to the company, 24 multisectoral base stations have been
installed to assure the communication. Airspan Networks Company
(U.S.) is the supplier of the network equipment. The network is
intended to provide a full spectrum of telecommunications services to
both companies and private residences, including services in data
transfer, digital telecommunication, high-line Internet access,
organization of corporate networks (IP VPN), etc.

The company currently has 600 clients and is expected to welcome
another 400 by the end of the year.

Comstar is the biggest communication operator in Moscow based on
financial indicators and subscriber base.

ARMENIAN ECONOMY HAS TOO MANY WEAK POINTS TO RESIST GLOBAL FINANCIAL CRISIS: ACADEMICIAN

ARKA
Oct 24, 2008

YEREVAN, October 24. /ARKA/. Armenia’s economy has too many weak points
to resist the global financial crisis, according to Abel Aghanbekyan,
head of the Business Management Doctor Program, member of the Russian
Academy of Sciences.

"Armenia has not felt the painful influence of the global financial
crisis yet, but transfers to Armenia will significantly reduce in a
couple of months," he said at a roundtable on the influence of the
global tailspin on Armenia’s economy.

According to the Central Bank of Armenia, non-commercial transfers to
the country reached $668.7mln as of end-June 2008 – 32.98% ($164.8mln)
year-on-year growth. Net inflow rose 46.8 % year-on-year to $555.9mln
($378.7mln in January-June 2007).

Another weak point in Armenia’s economy is that Armenian imports are
considerably lower than exports, Aghanbekyan said.

According to the latest statistics, Armenia’s foreign trade
turnover rose 7.2% year-on-year in January-September 2008 to
$383.7mln. Exports went down 1.8% to $813.8mln, while imports rose
38.3% to $3,023.2mln. As a result, red ink of the foreign trade
turnover amounted to $2,209.4mln.

Aghanbekyan underlined the gap between urban and village construction,
saying almost 88.8% of house construction is consolidated in Yerevan,
while more than 50% of population lives in regions.

The academician stressed the importance of reducing rampant
urbanization.

ARMENIA EXPECTS 4% (±1.5%)INFLATION IN 2009:MINISTER

ARKA
Oct 24, 2008

YEREVAN, October 24. /ARKA/. Armenia expects 4% (±1.5%) inflation
in 2009, RA Minister of Finance Tigran Davtyan reported at today’s
parliamentary hearings on the draft budget for 2009.

"This is both a realistic and ambitious task, as few countries are
able to keep inflation at 4%," the minister said.

He believes Armenia is able to remain within inflation target, taking
into account that inflation pressure has weakened significantly.

The annual inflation was 11.3% in September 2008. Armenia expects to
record 4% (±1.5%) inflation by end-2008

–Boundary_(ID_6p2OH2ah0ops2xJNMGldHA)–

From: Emil Lazarian | Ararat NewsPress

ARMENIA’S 2009 BUGDET DEFICIT TO BE 1% OF GDP, MINISTER SAYS

ARKA
Oct 24, 2008

YEREVAN, October 24. /ARKA/. Armenia’s state budget deficit is
estimated at above 1% of gross domestic product (GDP) in 2009,
compared to 2.1% in 2008, RA Minister of Finance Tigran Davtyan
reported at today’s parliamentary hearings on the draft budget 2009.

"Next year’s budget deficit will decrease by 1.9pct (23.2%), compared
to 2008," Davtyan said, adding budget receipts are estimated at about
22.2% of GDP in 2009, compared to 21.8% in 2008.

Budget expenditures will be 23.2% of GDP next year, compared to 23.9%
in 2008.

"Next year we expect a record-low deficit estimated at above 1%, which
will help us curb inflation pressure," the minister was quoted saying.

Consolidated budget receipts are expected to reach 927bln drams in
2009, with expenditures and deficit amounting to 967bln drams and
40bln drams.

Consolidated budget for 2009 is expected to total 50bln drams.

According to the draft budget, receipts and expenditures will reach
905.4bln drams and 945.4bln drams respectively, with deficit amounting
to 40bln drams.

The AMD (Armenian dram) exchange rate is set at 302.4 drams per USD.

GDP is expected to reach 4.1 trillion drams in 2009 ($13bln
year-on-year rise), with nominal GDP totaling 3.5 trillion drams
in 2008.

Armenia expects 9.2% GDP growth in 2009 (compared to 10% in 2008)
with 4% (±1.5%) inflation

–Boundary_(ID_M5OeqwnMU1bTHsW0Y3aD+A)- –

ARMENIA’S PREMIER CONSIDERS DARING ESTIMATED ECONOMIC GROWTH AT 8-10% IN 2008-2010

ARKA
Oct 24, 2008

YEREVAN, October 24. /ARKA/. The economic growth is estimated at 8-10%
in Armenia in 2008-2010, said the RA Premier Tigran Sargsyan at the
parliamentarian committees’ sitting on discussing the state budget
for next year on Friday.

"We can state it is a rather daring indicator, considering the
challenges we have to cope with," said the Premier and added the
estimated economic growth for next year is 9.2%.

He noted the rates of economic growth were very high in 2001-2007,
averaging to 13%, which contributed to doubling the per capita GDP.

"The Government will continue its tax and lending policy that
contributes to macroeconomic stability and economic growth," he said.

According to him the macroeconomic policy presupposes small budget
gap, reasonably low inflation rates and floating exchange rate which
wouldn’t pose a threat to economic development.

Specifically, 4% (±1.5%) inflation rate is estimated for 2009 with
budget deficit/GDP ratio 1%.

"These strong indicators will provide us with flexibility in coping
with challenges in world financial markets that will inevitably have
influence on the world economic growth," said Premier Sargsyan.

He stated the national debt is budgeted at US $2.2bln, 16.1% of GDP
in 2009 against 17.6% this year. Foreign dept is 81.5% of the total
national debt.

The foreign debt/GDP ratio will be 13.1% in 2009 against 14.9%
this year.

"Armenia’s foreign national debt indicators will be among the
indicators of countries with low or medium debt burden. This will
enable us to keep our rating of a solvent country, which increases
our reliability," said the Premier.

–Boundary_(ID_ucy7qGzOmghNYBQD0uk+8w)–

MINISTER NALBANDIAN TO VISIT LONDON

armradio.am
25.10.2008 11:36

October 26 the Foreign Minister of Armenia, Mr. Edward Nalbandian,
will leave for Great Britain for a two-day visit.

In London Minister Nalbandian will have meetings with Foreign Secretary
of the United Kingdom David Miliband, Minister of State for Europe
Caroline Flint.

The Armenian Foreign Minister will be hosted at the British Parliament,
where he will meet members of the Deputy Group of Armenian-British
Interparliamentary Cooperation of the House of Commons.

Minister Nalbandian is expected to make a speech at the Royal Institute
of International Affairs (Chatham House), which is considered one of
the largest scientific and expert centers of Europe.

Within the framework of the visit Edward Nalbandian will meet
representatives of the British Armenian community.

NEW JERSEY REPUBLICAN SCOTT GARRETT GAINS ANC-PAC ENDORSEMENT

armradio.am
25.10.2008 12:37

Congressman Scott Garrett (R-NJ) has secured the endorsement of a
prominent Armenian American organization that represents thousands
of voters in New Jersey’s Fifth Congressional District. The
Armenian National Committee – Political Action Committee (ANC-PAC)
is encouraging its supporters in Bergen, Sussex and Warren counties
to vote for Congressman Garrett on November 4th.

"We encourage Armenian Americans, from Closter to Mahwah and all across
his Congressional District, to vote for Scott Garrett this November,"
remarked Garden State ANC leader James Sahagian. "The Congressman is
a true friend of the Armenian American community and we look forward
to working with him in the 111th Congress next year," added Sahagian.

Since his election in November of 2002, Garrett has been a
stalwart ally on Armenian American issues in the U.S. House of
Representatives. He has been a thoughtful and articulate advocate
for his Armenian American constituents and has always kept in
touch with community leaders. Earlier this year the Congressman
met with Armenian Genocide survivor and Mahwah resident Alice
Khachadoorian-Shnorhokian. The following day he submitted a statement
in the Congressional Record urging Turkey to end its shameful denial
of the Armenian Genocide, a crime against humanity that deeply impacted
Alice and over a million Armenian Americans.

Presently, the Congressman serves as a member of both the House Budget
Committee and the House Financial Services Committee. Prior to his
election to the House, he served in the New Jersey State Assembly
for over a decade.

Born in Bergen County on July 9, 1959, Congressman Garrett lives is
married and has two daughters, Jennifer and Brittany. He graduated from
High Point High School and cum laude from Montclair State University
before earning his J.D. from Rutgers University Law School.

According to Congressional Quarterly Politics New Jersey’s 5th
Congressional District tends to vote Republican, but Democrats remain
successful in some pockets, including Tenafly in Bergen County and
Phillipsburg in south Warren County, the only county to lie entirely
within the district’s boundaries.

George W. Bush captured 57 percent of the 5th’s vote in the 2004
presidential election – his second-best showing in the state. The
Bergen County portion of the district favored Bush by 8 percentage
points. Despite the GOP strength, most voters continue to register
as independents.

From: Emil Lazarian | Ararat NewsPress

OSCE OFFICE SUPPORTS COURSES TO HELP BUSINESS OWNERS ADHERE TO AMENDED TAX LAW IN ARMENIA

armradio.am
25.10.2008 12:46

Helping small- and medium-sized enterprises adapt to recent tax
legislation changes is the purpose of a course that starts today at
an OSCE-supported anti-corruption centre in Yerevan.

"The course will benefit the entrepreneurs and will help reduce the
risk for corruption, thus supporting the government’s anti-corruption
policy," said Marc Bojanic, Deputy Head of the OSCE Office in Yerevan.

During the course, Tax Service and Finance Ministry officials will
explain what the legislation changes mean to small- and medium-sized
enterprises.

The course is organized in co-operation with the Small and Medium
Entrepreneurship Development National Centre of Armenia. A guidebook
to the tax law, published earlier this month by the OSCE Office,
will be used in the course.

Similar courses will be held across Armenia to help business owners
adhere to the law. The courses will be held at OSCE-supported regional
anti-corruption centres.

Armen Khojoyan, the co-ordinator of the Anti-Corruption Public
Reception Centre in Yerevan, said more than 2,000 people had
visited the Yerevan centre since it opened last year. The centre
has co-operated with relevant government bodies and civil society
organizations to identify the areas of concern and to raise awareness
on related issues,, he said., he said.

The OSCE-supported anti-corruption centres in Yerevan, Goris and
Martuni provide the public with consultations on matters including
civic and labour rights, social and security laws, small and medium
entrepreneurship, public health, conscription, driver’s rights and
consumers’ rights.

RAILWAY BETWEEN TBILISI AND YEREVAN WILL BE STUDIED IN THE FRAME OF EU "TRACECA" PROGRAMME

armradio.am
25.10.2008 12:52

The European Union is launching an important project aimed at
performing a feasibility study of the operating railway between
Tbilisi and Yerevan in the frame of TRACECA Programme (Transport
Corridor Europe Caucasus Asia).

EU Tacis – TRACECA is aimed at supporting the political and economic
development in Black Sea Region, Caucasus and Central Asia by means
of improvement of the international transport infrastructures. Today
the TRACECA programme encompasses thirteen countries: five countries
in Europe, three Caucasian states and five countries in Central Asia.

The main Tbilisi – Yerevan railway link, which has been inaugurated
in 1899 and electrified in 1967 suffers from a severe backlog of
maintenance and modernisation, and thereby cannot cover actual and
future transport needs in an effective and competitive way.

In the scope of the programme the alternative Yerevan- Tbilisi railway
link via Azerbaijan will also be studied. It has been inaugurated
and electrified in 1984, nevertheless, only the section Yerevan –
Dilijan is in operation since several years.

During the coming year the consultants will assess the current state
and will develop a detailed proposal for the rehabilitation of the
railway.

The realization of this project will be implemented by an
Italian – Ukrainian consortium, composed by: Lattanzio e Associati
S.p.A. (Italy), Khardiprotrans OJSC (Ukraine), International Consulting
& Service Group s.r.l. (Italy), International Railway Technology &
Service s.r.l. (Italy).

HARVARD BLACK SEA SECURITY PROGRAM REGIONAL WORKSHOP TO BE HELD IN YEREVAN

armradio.am
25.10.2008 14:04

October 26-30 the Harvard Black Sea Security Program Regional Workshop
will be held at the Drastamat Kanayan National Strategic Research
Center of the Ministry of Defense of the republic of Armenia.

The event will be held in partnership with Armenian International
Policy Research Group (AIPRG). The primary topic of discussion will
be Shared Concerns and Common Approaches to Black Sea and Caspian
Sea Security.

The event will host participants from Armenia, Azerbaijan, Bulgaria,
Georgia, Greece, Moldova, Romania, Slovenia, Russia, Serbia, Turkey,
Ukraine and the United States.