Areximbank – Gazprombank Group To Extend Loans To Small And Medium C

AREXIMBANK – GAZPROMBANK GROUP TO EXTEND LOANS TO SMALL AND MEDIUM COMPANIES IN ARMENIA UNDER WB PROGRAM

ARKA
Sep 5, 2011

YEREVAN, September 5. /ARKA/. Areximbank – Gazprombank Group CJSC will
take part in the World Bank’s program on crediting small and mid-scale
businesses in Armenia, the bank’s press office reported on Friday.

The bank signed an appropriate agreement with the Central Bank of
Armenia on August 30, 2011.

Areximbank – Gazprombank Group views development of small and mid-size
businesses among the most promising focuses of its activity, as the
press office says.

According to the press release, the bank recently enlarged lending to
small and medium companies under the central bank’s refinancing program
actively cooperating with international financial organizations,
including also Germany’s KfW Bank. Areximbank – Gazprombank Group
found itself among three largest creditors of small and mid-scale
businesses in Armenia-s banking system in 2010.

The bank took an active part in mortgage lending under KfW Bank’s
program. It also participated in the IFAD program on development of
rural areas.

Areximbank – Gazprombank Group built up its loan portfolio by 30%
in Jan-June 2011 to AMD 63 billion.

The loan portfolio constitutes 78% of the bank’s assets.

The bank’s assets grew 20% over the first six month of this year
reaching AMD 80.5 billion by early July.

The World Bank’s $50-million program for development of small and
medium entrepreneurship was approved in late February 2009.

The loan was extended for 26.5 years with a five-year grace period
on the conditions of the International Bank for Reconstruction and
Development.

The program is a key part of the government’s anti-crisis program. The
program participants extend loans to small and mid-size companies.

After that the information about the loan is checked in accordance
with the World Bank’s requirements and then refinanced.

Areximbank-Gazprombank Group (former Areximbank, renamed on June 12,
2009) was established in August 1998 for supporting entrepreneurship
and serving financial flows between Russia and Armenia.

Areximbank – Gazprombank Group is a member of VISA International and
MasterCard International payment systems.

In November 2007, Russian Gazprombank acquired bought 80% of
Areximbank’s shares.

In July 2008, Areximbank issued additional bonds, which were bough
by Gazprombank as well.

As a result, Gazprombank’s share in Areximbank reached 94.15%.

In September 2008, Gazprombank bought the remaining 5.85% from
Raiffeisenbank and is now the sole owner of the bank.

From: A. Papazian

The Special Gift From UNESCO Was Given To Givan Gasparyan Junior

THE SPECIAL GIFT FROM UNESCO WAS GIVEN TO GIVAN GASPARYAN JUNIOR

Noyan Tapan
05.09.2011 | 15:03

Culture

In International music competition-festival, that took place
in Uzbekistan, were participating 300 representatives from 52
countries. Duduk musician Givan Gasparyan junior, who was representing
Armenia, was given a special prize from UNESCO.

As Givan Gasparian mentioned during September 5th conference,
there were no age and genre limitation in the competition. Thought,
according to him, 15 minutes were given to each representative.

As Givan Gasparyan took part in such large-scale competition for the
fist time, this prize was very important to him, as after festival
he resaved many cooperation proposals and invitations from different
countries. According to young musician, from his grandfather Givan
Gasparyan, he learnt how to play correct and now their handwritings
are the same. According to Givan Gasparians~R words, in this sphere
he has no competitor, as each musician has its stile and fans.

Note, that the Uzbekistan~Rs international music competition-festival
took place in 25-30 of August. The main prize was given to the
representative of Chine. But the special prize of UNESCO besides
Armenian representative was also given to the representatives of
Azerbaijan and Uzbekistan.

From: A. Papazian

www.nt.am

Azeri Hacker Attacks On Armenia’s Tourist Websites Continue

AZERI HACKER ATTACKS ON ARMENIA’S TOURIST WEBSITES CONTINUE

PanARMENIAN.Net
September 5, 2011 – 18:35 AMT

PanARMENIAN.Net – Over the last month, official websites
of a number of Armenian travel agencies fell victim to Azeri
hacker attacks. Among hacked websites are: ;
; ; ;
and

On August 3 through September 4, Yerevan Travel tourist agency
technical service reported 53 attacks, 4 hacks and information loss.

Yerevan Travel Director General Hovhannes Khachatryan issued
a statement condemning destructive steps which may undermine
Armenia-Azerbaijan dialogue on Karabakh settlement. “We hope the
common sense will triumph, with law enforcement agencies to reveal
and prevent further violations in virtual space,” the statement said.

From: A. Papazian

www.yerevantravel.ru
www.armeniatravel.ru
www.turist.am
www.jermuk.ru
www.cakhkadzor.ru
www.armeniantour.ru.

Ex-Ambassador Of Georgia: We Don’T Want Armenian Churches

EX-AMBASSADOR OF GEORGIA: WE DON’T WANT ARMENIAN CHURCHES

PanARMENIAN.Net
September 5, 2011 – 18:39 AMT

PanARMENIAN.Net – WikiLeaks whistle blowing website released February
26, 2010 cables on a meeting with a former Ambassador of Georgia
to Armenia Georgy Tabatadze addressed by ex-Ambassador of U.S. to
Armenia Marie Yovanovitch to U.S. Department of State.

Yovanovitch cites Tabatadze’s statement referring to a conflict
between the Armenian Apostolic and Georgian Orthodox Churches over
Armenian churches located in Georgia.

“We don’t want the churches. Everyone knows they are Armenian
churches.” Tabatadze said. “Yet it would only be fair to the Georgians
to receive other churches in return. He specifically pointed out
non-operating “Georgian” churches in northern Armenia currently on
the state registry with the Government of Armenia. Tabatadze noted
that while there are no ethnic Georgians in that area who would use
the churches, it is the principle of reciprocity that matters. “In
future, Georgian Orthodox church could establish monasteries there,”
Tabatadze said, according to the cables.

Earlier, however, Georgian historians refused to recognize the presence
of Armenian churches on the territory of Georgia.

From: A. Papazian

Environ 150 Membres Du PKK Tues Lors De Raids Aeriens Turcs Dans Le

ENVIRON 150 MEMBRES DU PKK TUES LORS DE RAIDS AERIENS TURCS DANS LE NORD DE L’IRAK
[email protected]

armenews.com
lundi 5 septembre 2011
KURDISTAN

Entre 145 et 160 membres du Parti des travailleurs du Kurdistan
(PKK) ont ete tues et au moins 100 autres blesses lors de raids
aeriens effectues au cours des trois derniers jours, a annonce lundi
l’etat-major de l’armee turque.

Des avions de combat turcs ont effectue “21 sorties operationnelles”
entre le 25 et le 28 août, ciblant les bases du PKK dans les regions
de Zap et de Gara dans le nord de l’Irak, a precise l’etat-major dans
un communique.

Selon le communique, des appareils aeriens de renseignement avaient
prealablement identifie les possibles cibles du PKK, entre les 23 et 24
août, et 38 cibles ont ensuite ete bombardees lors des raids aeriens.

Toutes les cibles avaient ete localisees avec precision au cours des
nombreux vols de reconnaissance avant l’operation et l’armee turque a
pris des mesures de precaution pour eviter qu’il n’y ait des victimes
civiles, ajoute le communique.

Considere comme organisation terroriste par la Turquie, les Etats-Unis
et l’UE, le PKK a pris les armes en 1984 dans le but de creer un
Etat kurde independant dans le sud-est de la Turquie. Plus de 40 000
personnes ont trouve la mort dans des conflits impliquant le PKK au
cours des vingt dernières annees.

From: A. Papazian

Sargsyan’s Remarks Echo Kocharian’s Paranoia: US Diplomat

Sargsyan’s Remarks Echo Kocharian’s Paranoia: US Diplomat

09.03.2011 14:39 epress.am

Then prime minister Serzh Sargsyan `sharply criticized’ both the US
embassy in Yerevan and Deputy Assistant Secretary (DAS) Matthew Bryza
during a Mar. 22 lunch with European ambassadors, writes then US
Deputy Chief of Mission (DCM) to Armenia Joseph Pennington, citing two
ambassadors who attending the lunch, in a Mar. 31, 2008 confidential
cable recently released by WikiLeaks.

`Sargsyan reportedly claimed to the Europeans that the Armenian
opposition `is being run out of the US embassy,’ but provided no
specifics to back up the allegation. Sargsyan also asserted that DAS
Bryza `told me one thing when he was in Yerevan, then went back to
Washington and said something completely different.’ (Note: We assume
that the PM was referring to some of DAS Bryza’s comments to the media
following his recent visit here, but the PM failed to get into
specifics.) The PM also reportedly lashed out at several EU
Ambassadors who were at the lunch, particularly the German, because
their governments issued travel advisories following the violence in
Yerevan on March 1-2. The Ambassadors of France and the EU gave
roughly similar accounts of the PM’s comments to the Charge over the
past few days,’ reads the cable.

Pennington concludes the cable by noting that Sargsyan’s comments
`reinforce our view that neither the PM nor his inner circle have much
understanding of the way Western governments operate’:

`The PM apparently confuses embassy contacts with the opposition with
embassy support for the opposition. His remarks echo President
Kocharian’s frequently displayed paranoia that the embassy – in league
with NDI, Radio Liberty and others – is seeking to foment a `color
revolution’ in Armenia. The PM appears also to have misinterpreted DAS
Bryza’s diplomatic language and encouragement to reform during his
meeting with Sargsyan as a pledge not to criticize the Armenian
authorities for the post-election crackdown. If PM Sargsyan is to make
good on his stated intention to return Armenia to the path of reform
when he assumes office on Apr. 9, he will need to seek advice from
someone with a more sophisticated understanding of the West and the
ways of international diplomacy.’

From: A. Papazian

Chypre : l’état de santé de Denktash s’est détérioré, selon ses méde

CHYPRE
Chypre : l’état de santé de Denktash s’est détérioré, selon ses médecins

L’état de santé de l’ancien dirigeant chypriote-turc Rauf Denktash,
victime en mai d’une embolie cérébrale qui l’a laissé partiellement
paralysé, s’est sérieusement détérioré, ont annoncé jeudi ses
médecins.

M. Denktash est plongé dans un coma depuis mercredi et a été placé
sous assistance respiratoire dans un hôpital du nord (turc) de Chypre,
a indiqué à la presse le neurologue Mehmet Özmenoglu.

Son état est sérieux. Nous faisons tout pour lui, a-t-il ajouté.

Le vétéran chypriote-turc, gé de 87 ans et retiré de la vie politique
depuis 2005, a subi une intervention chirurgicale en juillet dans une
clinique militaire d’Ankara mais son état ne s’est guère amélioré en
raison de certaines complications dues à son ge avancée.

Avocat formé en Grande-Bretagne, M. Denktash a représenté la
communauté chypriote-turque pendant plus de 40 ans, dont, pour la
moitié, en tant que Président de la République turque de Chypre Nord
(RTCN), auto-proclamée en 1983 et reconnue seulement par Ankara.

Fervent nationaliste turc, il a vu les Chypriotes-turcs ignorer ses
conseils et voter massivement en faveur d’un plan de réunification de
l’île soumis à référendum par l’ONU en avril 2004, ce qui l’a conduit
à ne pas se représenter aux élections l’année suivante.

Le processus de paix a échoué en raison de son rejet par une grande
majorité de Chypriotes-grecs et Chypre a fait son entrée dans l’Union
européenne en tant qu’île divisée.

Chypre est divisée depuis 1974, date à laquelle la Turquie a envahi le
nord de l’île après un coup d’Etat fomenté par des nationalistes
Chypriotes-grecs visant à rattacher le pays à la Grèce.

dimanche 4 septembre 2011,
Sté[email protected]

From: A. Papazian

Society: Armenian Home testimony to continue in October

NorthJersey.com
Sept 3 2011

Armenian Home testimony to continue in October

Saturday, September 3, 2011
BY KIMBERLY REDMOND, OF COMMUNITY LIFE
Pascack Valley Community Life

Testimony will resume in October on an application before the Emerson
Municipal Land Use Board on the Emerson Armenian Home for the Aged
proposal to construct a new facility and then knock down the existing
building.

Many residents who live adjacent to the Main Street nursing home,
concerned a final vote would be cast on the application during the
board’s Sept. 1 meeting, packed the council chambers to express
concerns over the proposal.

According to the plans filed with the land use board, the new
building, a 2.5 story, 120-bed health care facility, would be
constructed on the left side of the lot on 70 Main St. The existing
86-bed home, located at the right of the property bordering Glenwood
Avenue, would be demolished upon construction of the new facility and
the patients would be transferred. The project, which has been planned
“for at least 16 years,” according to Matthew Russo, the home’s
administrator, is estimated to cost between $13 to 15 million, a
portion of which was the result of fund raising.

Though the board has not yet completed its hearing of the application,
it opened to the public on Thursday evening to allow for residents to
ask questions regarding the plan.

The session, which lasted for nearly three hours, grew boisterous at
some points, with residents cheering those who spoke out against the
application and muttering, “How much did they pay you?” to the two who
spoke positively about the home and the importance of upgrading it.

Richard Massiello, who said he’s lived in the neighborhood for over 50
years, said the proposed location for the new building used to be over
“swampland.” He went on to point to the recent flooding problems that
Hillsdale and Westwood have faced and said that those issues are a
direct result of development upon unstable lands.

Ken Hoffman, a member of the Emerson Environmental Commission and
former borough councilman, said, “The floods that we just saw are very
much the result of an incredible amount of development… creating
impervious surfaces throughout the area. You get flash floods where
you used to have water infiltrating the ground and you have all kinds
of damage as a result of that.”

Theresa Cannata, who resides on Clinton Street, flatly told the board,
“If this plan is approved, you will ruin our entire neighborhood.”
Just some of the concerns voiced by Cannata included increased traffic
and diminished home values.

“I did not buy my house with this [proposed building] in front of my
home. I pay taxes and they do not,” said Cannata, referring to the tax
exempt status of the Armenian Home, a not-for-profit organization. “If
this board approves this, I will take this as high as I can go.”

Alan Bell, the applicant’s attorney, continuously reminded residents
that the home’s tax exempt status carries no bearing on whether or not
the project should receive approval by the land use board. He also
reiterated that the applicant is not seeking any waivers, since it
conforms to all regulations of zoning ordinances and all requirements
of subdivision and site plan review ordinances. In 2006, the Armenian
Home went before the Mayor and Council to request a change to a zoning
ordinance to allow for nursing homes to be a conditional use in
residential zones, Bell recalled. The request, which was reviewed and
recommended by the planning board, was approved by the governing body
and the zoning was changed, since, as Bell said, “it [the home]
existed there since 1938 as a non-conforming use in the zone” and “it
made sense for the mayor and council to recognize that property for
what it was – a nursing home use.”

The request five years ago occurred around the same time that the
Armenian Home sought approval for its original project, one designed
to expand and modernize the facility, which, according to Bell, is a
site that consists of several buildings that were added over the years
“in bits and pieces,” with the oldest one dating back to the 1930s.

“The approved plan proposed to take down another pre-existing
structure so we could put up a building and leave the other remaining
buildings here,” said Bell, adding that the home originally projected
40 more beds than its proposing in its current application. At the
time of the application, the planning board voiced concerns that an
increase in the number of patients at the facility would impose a
greater burden on emergency medical services, which led to the home’s
proposal of a formula to compensate the borough for those services.
For example, if 100 to 120 beds were occupied, the home would pay
$1,000 per bed for a grand total of $100,000 to $120,000 a year.

However, the state ultimately ruled not to grant approval for the
project, Bell said.

“The home is extremely regulated by the state, as any nursing home is.
The state was extremely concerned about the staging of the development
and the impact on the residents while it was being developed,” said
the attorney. The original application planned to keep some of the
home’s residents at the facility during the construction period, he
said.

“Frankly, they did not want us to do it that way. Frankly, we had no
choice but to look for another location on the site to build the
building so we could continue to house the residents,” Bell explained.
The home did go out and seek temporary sites to house residents during
construction; however it was unable to secure a location, which led to
the creation of the current plan, the attorney said.

Kathryn Cornwell, who resides in the area, said the majority of the
neighborhood wasn’t even aware the scope of work had changed until the
applicant appeared at the last land use board meeting in July to
deliver the new plan.

“It was the first time that any of us were aware the original plans
had changed. Plans that we had also considered and approved. I’m sure
all of us were blindsided by the extent of the changes and the
apparent indifference to the impact on the community,” she said.

The concerns of residents that were voiced at the July meeting are
something that prompted a few revisions to the proposed plan, Bell
said.

For instance, in response to concerns about truck traffic, the plan
now calls for the widening and curbing of Clinton Street “by a foot or
so” as a way to help improve traffic flow, Bell said. Also, the new,
larger site, would allow for deliveries to the home to be reduced from
72 per week to 20, Russo said. The delivery vehicles, which would
utilize the site’s proposed back entrance on Broad Street, would
primarily consist of vans and box trucks, however there is a
possibility the home’s food delivery would arrive by a tractor
trailer. The applicant said the home would try and work with the food
vendor to utilize a smaller truck for deliveries.

From: A. Papazian

http://www.northjersey.com/news/129189828_Armenian_Home_testimony_to_continue_in_October.html

Business & Economy: Fortune Oil PLC Appointment of Project Director

London Stock Exchange Aggregated Regulatory News Service (ARNS)
August 22, 2011 Monday 7:00 AM GMT

Fortune Oil PLC Appointment of Project Director in Armenia

RNS Number : 7453M
Fortune Oil PLC
22 August 2011
22 August 2011
FORTUNE OIL PLC
(“Fortune Oil” or the “Company”)

Appointment of New Project Director in Armenia

Fortune Oil is pleased to announce the appointment of Mr. Jerry Gorman
as Project Director for its Armenia iron ore investment with effect
from 1(st) October 2011.
Jerry Gorman has more than 30 years of mining and metals experience
with a proven track record of successfully building, operating and
delivering metallurgical and mining projects in South America, Africa
and Europe. Prior to his appointment, Jerry spent 9 years with ENRC
(Eurasian Natural Resources Corporation) and its subsidiary companies
in various roles. The latest of these was as President and Chief
Executive Officer of Bahia Mineracao (a 100% subsidiary company of
ENRC) where he was responsible for managing all aspects of its iron
ore deposits in Brazil.
Jerry will now be responsible and accountable for successfully
developing both the Hrazdan and Abovyan mines. He will be Fortune
Oil’s most senior representative based in Armenia and will be the key
individual liaising with all of the Group’s strategic alliance
partners including SRK Consulting (UK), ProMet Engineers (Australia),
Sinosteel Group (China), local Government and other relevant
authorities including the Chinese Embassy.
This appointment significantly strengthens the Company’s operational
experience as it looks to successfully deliver the iron ore project in
Armenia. Jerry’s experience and expertise will be beneficial to
Fortune Oil in evaluating and executing future M&A opportunities in
mining and metals globally.
A detailed description of Mr. Jerry Gorman’s qualifications and
experience is set out at the end of the announcement.
Mr. Tee Kiam Poon, Chief Executive of Fortune Oil, commented:
“I am delighted that Jerry will be joining us. Jerry is a highly
experienced, innovative and results oriented iron ore project manager
with an established track record of delivering difficult projects to
tight timescales. He has broad international experience having
successfully delivered various iron ore projects in numerous countries
on several different continents. His expertise is ideally suited for
the Company’s iron ore investment in Armenia and I am certain that he
will play a crucial role in successfully delivering the projects.”
For further details:

Fortune Oil PLC Tel: 00 852 2583 3125
Tee Kiam Poon Tel: 00 852 2583 3120
Premal Shah
Pelham Bell Pottinger Tel: 020 7861 3112
Archie Berens / Zoe Sanders

From: A. Papazian

BAKU: Magdeburg leadership informed about Karabakh conflict

Trend News Agency, Azerbaijan
Sept 3 2011

Magdeburg leadership informed about Karabakh conflict (PHOTO)

[03.09.2011 10:15]
Azerbaijan, Baku, Sept. 3 / Trend T.Hajiyev /

The Azerbaijani Diaspora informed the leadership of Germany’s
Magdeburg about the Karabakh conflict.

Magdeburg Mayor Lutz Trumper and Chairman of German-Azerbaijani
Cultural Association in the state of Saxony-Anhalt Yashar Millnitts
Niftaliyev mulled the problems of Azerbaijanis in Magdeburg, the
Azerbaijani State Committee for Diaspora Affairs told Trend.

Trumper said the activities of Azerbaijanis, particularly the
German-Azerbaijani Cultural Association’s activities in Magdeburg, are
very active and successful.

During the meeting, Niftaliyev informed Magdeburg official on
Armenia-Azerbaijan, Nagorno-Karabakh conflict and handed over
materials reflecting facts about Azerbaijan.

The conflict between the two South Caucasus countries began in 1988
when Armenia made territorial claims against Azerbaijan. Armenian
armed forces have occupied 20 percent of Azerbaijan since 1992,
including the Nagorno-Karabakh region and 7 surrounding districts.

Azerbaijan and Armenia signed a ceasefire agreement in 1994. The
co-chairs of the OSCE Minsk Group – Russia, France, and the U.S. – are
currently holding the peace negotiations.

Armenia has not yet implemented the U.N. Security Council’s four
resolutions on the liberation of the Nagorno-Karabakh and the
surrounding regions.

From: A. Papazian