Month: September 2009

ARARATBANK LAUNCHES A PROJECT ON BONUS CARDS ARARAT TRANSFER

ArmInfo
2009-09-01 15:02:00

ArmInfo. On September 5 ARARATBANK will launch a project on
bonus cards ARARAT TRANSFER. The press-service of ARARATBANK told
ArmInfo that the given project will give an opportunity to the bank
clients to accumulate bonuses when carrying out money transfers via
international payment systems. The bonuses will allow the clients
to make advantage of numerous privileges, as well as to take part in
drawing of expensive prices.

The client may receive the bonus card by sending or receiving
transfers worth maximum $10 thsd within a month via international
payment systems operating in ARARATBANK. On receiving the bonus
card and carrying out money transfers before the upcoming drawing,
the client will receive bonuses to the card account depending on the
transfer amount. In particular, one bonus point falls on each $1 of
money transfer. 5 card-holders, who obtain the majority of points,
and 5 more random card-holders participate in the drawing which is
held 4 times a year (once a quarter).

According to the source, the owners of ARARAT TRANSFER cards will
receive an opportunity to be served at ARARATBANK avoiding the
queue, to receive a 10% discount when carrying out money transfers
via international payment systems, to receive a chance to exchange
currency at the bank at a more preferential exchange rate, to make
advantage of banking safe-deposit boxes with 50% discount.

Furthermore, ARARAT TRANSFER card-holders will obtain additional
points if involve a new client who will conclude a transaction worth
$10 thsd within a month.

To note, ARARATBANK has 27 branches, most of them are in the regions
of Armenia.

VIVACELL-MTS LAUNCHES ‘DON’T TALK AND DRIVE’ CAMPAIGN

ArmInfo
2009-09-01 14:38:00

ArmInfo. On August 27 VivaCell-MTS launched its "Don’t Talk and Drive"
campaign aimed at increasing the road safety awareness of mobile
service users in Armenia.

Though it may seem strange a mobile operator calls subscribers to
keep back from using phones while driving, VivaCell-MTS is ready to
concede some revenue for the safety of Armenians. According to recent
statistics the number of road accidents as a result of talking over
the phone or sending/receiving messages while driving is continuously
growing. And as a corporate citizen, VivaCell-MTS feels responsible
for raising the awareness in the Armenian society on this vital issue.

During the campaign drivers will be reminded not to use mobile phones
while driving via billboard advertising both on the roads of Yerevan
and on the main highways entering the city.

IMF TO FULFILL GENERAL ALLOCATION OF SDR TO MEMBER STATES OF IN AMOUNT OF $ 250 BILLION

ARKA
Sep 1, 2009

YEREVAN, September 1. /ARKA/. The International Monetary Fund fulfilled
the general allocation of SDRs Member States of the IMF amounting
to 250 billion U.S. dollars, in proportion to their existing quotas
in the Fund, a report posted on the official website of the IMF
stated. Armenia’s IMF quota is about 100 million U.S. dollars.

On August 7, 2009 Board of Governors of the International Monetary Fund
(IMF) approved a total allocation of special drawing rights (SDRs)
equivalent to 250 billion dollars to provide liquidity in the global
economic system through replenishment of foreign exchange reserves
of the Member States of the Fund.

IMF Executive Board endorsed the proposal for a general distribution,
after the leaders of the Group 20 pledged to increase global liquidity
at its April summit, and the International Monetary and Financial
Committee (IMFC) welcomed this commitment.

Part of the overall distribution, equivalent of almost 100 billion
USD, will be given to countries with emerging market and developing
countries, including low-income countries which will receive more
than 18 billion USD.

The total allocation of SDRs will be made on August 28, 2009 Member
States of IMF that are parties to the Department of Special Drawing
Rights (currently, 186 States Members) in proportion to their existing
quotas in the Fund, which are generally based on their relative size
in the world economy.

Under this allocation, each participating country will receive
SDR equivalent to approximately 74 per cent of its quota, and the
total distributions to Member States of the Fund may reach an amount
equivalent approximately to 283 billion USD, compared with about 33
billion USD (SDR 21.4 billion) at present.

As a separate step, the Fourth Amendment to the Articles of IMF
agreement was entered into force, providing a special one-time
allocation of SDRs.

This specific distribution of IMF members will be made on September
9 2009, 30 days after the date of entry into force of the Fourth
Amendment.

It will increase the relationship of cumulative SDR allocations
to Member States for their quotas on the basis overall control
coefficient, as envisaged in the amendment. The total amount of SDR,
established under the special allocation will amount to 21.5 billion
SDRs (about 33 billion USD).

"The special allocation of SDRs would make the distribution more
equitable and would eliminate the consequences of the fact that the
countries that joined the Fund since 1981, and those are more than
one-fifth of all members of the IMF are currently not receiving the
SDR distribution ", the report said.

The adoption of the Fourth Amendment, proposed in September 1997,
was correlated with the approval of the three-fifths of IMF members
having 85 percent of total number of votes. This threshold was reached
after the recent approval of the amendment of the United States.

>From the date of the general and special allocation of the funds
received by Member States under the new SDR allocations, they will be
considered as part of their reserve assets. Some members may decide
to sell all or part of SDRs allocated to them by other members in
exchange for hard currency.

For example, some may want to meet the needs of the balance of
payments, while others may prefer to buy a large amount of special
drawing rights with a view to change the structure of its reserves.

As a result of special and general distributions of SDR allocations
to Member States the cumulative amount will reach 204 billion SDRs
(about 316 billion USD).

"The general allocation of SDRs is an important example of
a multilateral cooperation in overcoming the global crisis and
providing a substantial support to Member States of the Fund during
this difficult period ", the report emphasized.

From: Emil Lazarian | Ararat NewsPress

ARMENIAN UNEMPLOYMENT LEVEL RISES TO 6.8% IN JANUARY-JULY

ARKA
Sep 1, 2009

YEREVAN, September 1, /ARKA/. Armenia’s unemployment rate in
January-July, 2009 rose to 6.8% from 6.3% in the same time span
of 2008, the country’s National Statistical Service (NSS) told
ARKA. It said some 101,000 people looking for jobs were registered
by employment centers across the country-86,500 of them were jobless;
84,700 people were registered officially as unemployed. According to
official numbers, women again made the bulk of all jobless people-71.1%
(60,200).

The overall number of economically active population was 1,179,300;
1,099,400 had jobs, the rest were unemployed. The overall number of
jobless people entitled to unemployment allowances rose from 17,400
in Jan.-July, 2008 to 25,000. The average amount of the allowance
rose from 14,052 Drams to 16,875 Drams.

According to official figures, there were 866 vacancies by the end
of July.

FOREIGN EXCHANGE LIABILITIES OF ARMENIAN CENTRAL BANK TO GOVERNMENT RISE STEEPLY IN Q2

ARKA
Aug 31, 2009

YEREVAN, August 31, /ARKA/. Foreign exchange liabilities of Armenia’s
Central Bank to the government (reflected in Armenian Drams) rose
steeply in Q2 to 58.7 billion Drams from 1.15 billion Drams at the
end of Q1, according to a Central Bank’s balance report for Q2. The
report says that the Central Bank’s liabilities in Armenian Drams
rose to 225.9 billion Drams from 158.2 billion Drams.

Therefore, Central Bank’s liabilities to the government in
foreign exchange and Drams in Q2 rose 4.13 times to 284.6 billion
Drams. According to analysts, the steep rise of the Central Bank’s
liabilities has been caused by attraction of loans.

Central Bank’s aggregate liabilities as of June 30, 2009 totaled 926
billion Drams rising in Q2 by 226.5 billion Drams. According to the
report, Central Bank’s hard currency liabilities rose by 21.4% in Q2
(by 45.1 billion Drams) to 255.3 billion Drams.

Hard currency deposits and accounts held in the Central Bank by
other organizations reduced in Q2 by 13.4% from 144.7 billion Drams
to 125.3 billion Drams.

Central Bank’s other borrowings in Q 2 rose from 15.9 billion Drams
at the end of Q1, to 26 billion Dreams at the end of Q2. Other hard
currency liabilities totaled 151.1 million Drams.

The report shows that 72.4% of all liabilities (670.8 bill ion Drams)
of the Central Bank’s are in Armenian Drams. Their share rose from 70%
to 72.4% at the end of Q2. The share of Dram liabilities rose by 25.4%
from the beginning of the year (by 135.8 billion Drams).

Liabilities in Drams-banknotes and coins in circulation, rose by 10.6%
(24.8 billion Drams) in Q2 to 258.9 billion Drams.

In Q2 deposits and accounts in Drams reduced by 5.5% (2.6 billion
Drams) to 44.8 billion Drams. Other Dram liabilities as of June 30
totaled 855.3 million Drams. ($1 – 376.17 Drams).

ARMENIAN BAR ASSOCIATION GRANTS SCHOLARSHIPS TO THREE ARMENIAN STUDENTS

Noyan Tapan
Sep 1, 2009

LOS ANGELES, SEPTEMBER 1, NOYAN TAPAN – ARMENIANS TODAY. This year
Los Angeles-based Armenian Bar Association granted scholarships to
three Armenian students of law universities.

The ARF Western America Central Committee reported that this year
sholarships will be awarded to Natalie Martirosian, a student of the
University of California at Los Angeles (UCLA), Garik Nahapetian of
the University of California at Irvine (UCI), and Astghik Solomonian
from Yerevan State University (YSU). To receive a scholarship of the
Armenian Bar Association, students are required to show excellent
academic performance and take an active part in the Armenian
community’s life, especially in law and charity.

From: Emil Lazarian | Ararat NewsPress

GTZ PROVIDES TECHNICAL ASSISTANCE TO STANDING COMMITTEE ON FINANCIAL, CREDIT AND BUDGET ISSUES OF ARMENIAN PARLIAMENT

Noyan Tapan
Sep 1, 2009

YEREVAN, SEPTEMBER 1, NOYAN TAPAN. James Macbeth Forbes, Program
Director of the German Technical Cooperation (GTZ) enterprise, and
Melanie Moltmann, German Charge d’Affaires in Armenia, visited on
September 1 the RA National Assembly Standing Committee on Financial,
Credit and Budget Issues to provide computers to the Committee members
and staff, NT was informed by the RA National Assembly PR Department.

Expressing his gratitude to the representatives of GTZ for their
assistance, the vice speaker of the National Assembly Samvel
Nikoyan said that the programs implemented under the memorandum on
cooperation with the parliament which was signed in 2008, as well as
all initiatives of GTZ in Armenia are successful and efficient. He
expressed a hope that the cooperation with the National Assembly will
be continuous.

According to Chairman of the Standing Committee Gagik Minasian, the
committee has a broad experience of joint work with GTZ. As an example
of such cooperation, he pointed out the current Law on Audit Chamber:
over two years of its application, no proposal for an amendment has
been received, although the law requlates a large field. He proposed
taking measures on improvement of expert capacities during the next
stages of cooperation as well.

Melanie Moltmann in her turn underlined the importance of the functions
of the Standing Committee on Financial, Credit and Budget Issues,
including control over the budget. She expressed a willingness to
assist with the implementation of this function.

GRIGOR GHONJEYAN APPOINTED MEMBER OF CBA BOARD FOR PERIOD OF FIVE YEARS

Noyan Tapan
Sep 1, 2009

YEREVAN, SEPTEMBER 1, NOYAN TAPAN. Armenian President Serzh Sargsyan
on August 31 signed a decree on appointing Grigor Ghonjeyan a member
of the Board of the Central Bank of Armenia (CBA) for a period of
five years, NT was informed by the RA presidential press service.

WORLD BANK TO PROVIDE ADDITIONAL FINANCING OF 36.6 MILLION DOLLARS FOR LIFELINE ROADS IMPROVEMENT PROJECT IN ARMENIA

Noyan Tapan
Sep 1, 2009

YEREVAN, SEPTEMBER 1, NOYAN TAPAN. The World Bank’s Board of Executive
Directors made a decision last week to allocate an additional sum of
36.6 million USD for the Lifeline Roads Improvement Project (LRIP)
in Armenia.

The project will help rehabilitate about 140 km of lifeline roads in
seven marzes (provinces).

According to a report of the World Bank Armenia Office, the project
will assist the Armenian government with the improvement of the
country’s main road network and the creation of jobs in the medium
term. It will also allow mitigating the impact of the global economic
crisis on the country’s economy and population.

RA MFA ISSUES ARMENIAN-TURKISH PROTOCOLS

Noyan Tapan
Sep 1, 2009

YEREVAN, SEPTEMBER 1, NOYAN TAPAN. Armenian Ministry of Foreign
Affairs issued two protocols signed by Armenia and Turkey under
Swiss mediation.

Noyan Tapan releases the full text of the protocols.

Protocol on the Establishment of Diplomatic Relations between the
Republic of Armenia and the Republic of Turkey.

"The Republic of Armenia and the Republic of Turkey. Desiring
to establish good neighbourly relations and to develop bilateral
cooperation in the political, economic, cultural and other fields
for the benefit of their peoples, as envisaged in the Protocol on
the development of relations signed on the same day.

Referring to their obligations under the Charter of the United Nations,
the Helsinki Final Act, the Charter of Paris for a New Europe,

Reconfirming their commitment, in their bilateral and international
relations, to respect and ensure respect for the principles of
equality, sovereignty, non-intervention in internal affairs of other
states, territorial integrity and inviolability of frontiers,

Bearing in mind the importance of the creation and maintenance of an
atmosphere of trust and confidence between the two countries that will
contribute to the strengthening of peace, security and stability of the
whole region, as well as being determined to refrain from the threat
of the use of force, to promote the peaceful settlement of disputes,
and to protect human rights and fundamental freedoms,

Confirming the mutual recognition of the existing border between the
two countries as defined relevant treaties of international law,

Emphasizing their decisions to open the common border,

Reiterating their commitment to refrain from pursuing any policy
incompatible with the spirit of good neighbourly relations,

Condemning all forms of terrorism, violence and extremism irrespective
of their cause, pledging to refrain from encouraging and tolerating
such acts and to cooperate against them,

Affirming their willingness to chart a new pattern and course for
their relations on the basis of common interests, goodwill and in
pursuit of peace, mutual understanding and harmony,

Agree to establish diplomatic relations as of the date of the entry
into force of this Protocol accordance with the Vienna Convention on
Diplomatic Relations of 1961 and to exchange Diplomatic Missions.

This Protocol and the Protocol on the Development of Bilateral
Relations between the Republic of Armenia and the Republic of Turkey
shall enter into force on the same day, i.e. on the first day of the
first month following of instruments of ratification.

Signed in (place) on (date) in Armenian, Turkish and English languages
authentic copies in duplicate. In case of divergence of interpretation,
the English text shall prevail.

For the Republic of Armenia

For the Republic of Turkey"

Protocol on Development of Relations between the Republic of Armenia
and the Republic of Turkey

"The Republic of Armenia and the Republic of Turkey.

Guided by the Protocol on the Establishment of Diplomatic Relations
between the Republic of Armenia and the Republic of Turkey signed on
the same day,

Considering the perspectives of developing their bilateral relations,
based on confidence and respect to their mutual interests,

Determining to develop and enhance their bilateral relations, in the
political, economic, energy, transport, scientific, technical, cultural
issues and other fields, based on common interest of both countries,

Supporting the promotion of the cooperation between the two countries,
in the international and regional organizations, especially within the
framework of the UN, the OSCE, the Council of Europe, the Euro-Atlantic
Partnership Council and the BSEC,

Taking into account the common purpose of both States to cooperate for
enchancimg regional stability and security for ensuring the democratic
and sustainable development of the region,

Reiterating their commitment to the peaceful settlement of regional
and international disputes and the conflicts on the basis of the
norms and principles of law,

Reaffirming their readiness to actively support the actions of eth
international community in addressing common security threats to
the region and world security and stability, such as terrorism,
transnational organized crimes, illicit trafficking of drugs and arms,

1. Agree to open the common border within 2 months after the entry
into force of this Protocol,

2. Agree to

conduct regular political consultations between the Ministries of
Foreign Affairs of the two countries;

implement a dialogue on the historical dimension with the aim
to restore mutual confidence between the two nations, including
an impartial scientific examination of the historical records and
archives to define existing problems and formulate recommendations;

make the best possible use of existing transport, communications
and energy infrastructure and networks between the two countries,
and to undertake measures in this regard;

develop the bilateral legal framework in order to foster cooperation
between the two countries;

cooperate in the fields of science and education by encouraging
relations between the appropriate institutions as well as promoting
the exchange of specialists and students, and act with the aim of
preserving the cultural heritage of both sides and launching common
cultural projects; establish consular cooperation in accordance
with the Vienna Convention on Consular Relations of 1963 in order to
provide necessary assistance and protection to the citizens of the
two countries;

take concrete measures in order to develop trade, tourism and economic
cooperation between the two countries;

engage in a dialogue and reinforce their cooperation on environmental
issues.

3. Agree on the establishment of an intergovernmental bilateral
commission which shall comprise separate sub-commissions for the
prompt implementation of the commitments mentioned in operational
paragraph 2 above in this Protocol. To prepare the working modalities
of the intergovernmental commission and its sub-commissions, a
working group headed by the two Ministers of Foreign Affairs shall
be created 2 months after the day following the entry into force of
this Protocol. Within 3 months after the entry into force of this
Protocol, these modalities shall be approved at ministerial level. The
intergovernmental commission shall meet for the first time immediately
after the adoption of the said modalities. The sub-commissions shall
start their work at the latest 1 month thereafter and they shall work
continuously until the completion of their mandates. The timetable
and elements agreed by both sides for the implementation of this
Protocol are mentioned in the annexed document, which is integral
part of this Protocol.

This Protocol and the Protocol on the Establishment of Diplomatic
Relations between the Republic of Armenia and the Republic of Turkey
shall enter into force on the same day, i.e. on the first day of the
first month following the exchange of instruments of ratification.

Signed in (place) on (date) in Armenian, Turkish and English authentic
copies in duplicate. In case of divergence of interpretation, the
English text shall prevail.

For the Republic of Armenia For the Republic of Turkey

Annexed document: Timetable and elements for the implementation of
the Protocol on development of relations between the Republic of
Armenia and the Republic of Turkey.

Timetable and elements for the implementation of the Protocol on
development of relations between the Republic of Armenia and the
Republic of Turkey

Steps to be undertaken and Timing.

1. to open the common border- within 2 months after the entry into
force of the Protocol on the development of relations between the
Republic of Armenia and the Republic of Turkey

2. to establish a working group headed by the two Ministers of Foreign
Affairs to prepare the working modalities of the intergovernmental
commission and its sub-commission – 2 months after the day following
the entry into force of the Protocol on the development of relations
between the Republic of Armenia and the Republic of Turkey

3. to approve the working modalities of the intergovernmental
commission and its sub-commissions at ministerial level – within 3
months after the entry into force of the Protocol on the development
of relations between the Republic of Armenia and the Republic of Turkey

4. to organize the first meeting of the intergovernmental commission
– immediately after the adoption of the working modalities of the
intergovernmental commission and its sub-commissions at ministerial
level

5. to operate the following sub-commissions:

– the sub-commission on political consultations;

– the sub-commission on transport, communications and energy
infrastructure and networks;

– the sub-commission on legal matters;

– the sub-commission on science and education;

– the sub-commission on trade, tourism and economic cooperation;

– the sub-commission on environmental issues: and

– the sub-commission on the historical dimension to implement a
dialogue with the aim to restore mutual confidence between the
two nations, including an impartial scientific examination of the
historical records and archive to define existing problems and
formulate recommendations, in which Armenian, Turkish as well as
Swiss and other international experts shall take part."