Author: Andres-Papazian

ARMENIA SHOULD ENHANCE INNOVATIVE ECONOMY: MCKINSEY&COMPANY

ARKA
November 1, 2010
YEREVAN

YEREVAN, November 1, /ARKA/. Armenia should concentrate its efforts on
developing innovative sectors of economy, Dominic Barton, the Managing
Director of McKinsey & Company, said October 30 when addressing the
participants of the third conference of the National Competitiveness
Fund of Armenia in Yerevan.

He said if Armenia fails to do so it will be ousted from consumer
markets. He said Armenian authorities should change the main economic
accents by shifting from imports to local production. He said if
he were an Armenian businessman he would buy also mines and land in
other countries. In his words, quick development and improvement of
quality of goods and services has become an imperative.

Dominic Barton said also Armenia should make efforts to improve
its competitiveness. He said Armenia will have to go a long road to
improve its current competitiveness level.

In the global rating of competitiveness prepared by World Economic
Forum Armenia dropped one notch from last year’s position to stand
now on 98-th position.

“Armenia has a strategically important position, which might make
the country the beacon of development in the region. I would pick
no other country but Armenia if I were to set headquarters in the
region,” Barton stated, urging Armenia to strive towards making a
difference in the region.

McKinsey & Company is a global management consulting firm. It serves
as an adviser to the world’s leading businesses, governments, and
institutions.

From: A. Papazian

RUSSIAN ATOMENERGOPROEKT CHOSEN AS PRINCIPAL CONTRACTOR FOR DESIGN OF NEW ARMENIA’S NUCLEAR POWER PLANT

ARKA
November 1, 2010
YEREVAN

YEREVAN, November 1, /ARKA/. Russian OAO Atomenergoproekt will be
the principal contractor for design of a new nuclear power plant in
Armenia, Russian RIA Novosti news agency reported.

The new plant is supposed to operate at twice the capacity of the
Soviet-constructed facility that currently generates some 40 percent
of Armenia’s electricity, but the Armenian government has yet to
attract funding for the project that was estimated by a U.S.-funded
feasibility study to cost at as much as $5 billion. To attract foreign
investors Armenian parliament passed a law in 2006 to lift government
monopoly on ownership of nuclear power facilities.

The Russian news agency said Atomenergoproekt possesses large
experience in building nuclear power units outside Russia. It is
particularly, the general contractor of Busher nuclear power plant
in Iran, Kudam-Kulam in India and Belen in Bulgaria.

During Russian president Dmitry Medvedev’s visit to Armenia in August
the governments of Armenia and Russia signed an agreement on “technical
and financial cooperation” for building a new unit at Armenia’s aging
nuclear power plant set to be decommissioned in several years.

An Armenian-Russian closed joint-stock company was set up late last
year with the aim of building the new reactor. It is expected to
secure 40% of the necessary funds and the rest is supposed to come
from private investors. Chief of Russian nuclear agency Rosatom,
Sergey Kirienko, was quoted by Russian and Armenian newspapers as
saying earlier this year that Russia could cover 20% of the cost of
the new plant’s construction.

From: A. Papazian

ARMENIAN PRESIDENT EMPHASIZES IMPORTANCE OF LEARNING INTERNATIONAL EXPERIENCE FOR BOOSTING ECONOMY

ARKA
November 1, 2010
YEREVAN

YEREVAN, November 1, /ARKA/. Armenian president Serzh Sargsyan
emphasized October 30 the importance of learning international
experience for boosting the country’s economy as he received Dominic
Barton, the Managing Director of McKinsey & Company.

Dominic Barton was in Armenia to take part in the third conference
organized by Armenia’s National Competitiveness Fund.

‘In the course of the meeting president Sargsyan expressed hope that
Mr. Barton’s participation in the conference as a representative of a
company that enjoys big popularity due to its professional activity
will be very useful to members of the Fund’s Board of Trustees and
the Armenian business community,’ Sargsyan’s press office said.

In his turn, Mr. Barton said he was glad to cooperate with the National
Competitiveness Fund of Armenia. The two men spoke about post-crisis
trends in global economy, as well as Armenia’s relative advantages
and prospects for further sectoral development.

From: A. Papazian

INDUSTRIAL OUTPUT TOTALS 579.1BLN DRAMS IN ARMENIA IN JAN-SEPT

ARKA
November 1, 2010
YEREVAN

YEREVAN, November 1. /ARKA/. Industrial output totaled 579.1 billion
drams (in current prices) in Armenia in January-September, an increase
of 10.9% as compared with the same period of last year.

Armenian National Statistical Service reports that sales of industrial
products were 577.6 billion drams, including 38.4 billion drams in
CIS countries and 160.7 billion drams in other countries.

Mining industry output totaled 105.2 billion drams over the period,
an increase of 28.9% against the level of the same period of last year.

Processing industry output was 377.1 billion drams in the period (a
10.8% increase), chemical output exceeded 7.1 billion drams (a 27.8%
increase) and output in production and distribution of electricity,
gas and water totaled 83.6 billion drams (a reduction of 5%).

($1=358.21drams).

From: A. Papazian

HSBC BANK ARMENIA LAUNCHES NEW PRODUCT – CORPORATE ATM CARDS

ARKA
November 1, 2010
YEREVAN

YEREVAN, November 1, /ARKA/. HSBC Bank Armenia has announced today
the launch of a new product designed for corporate clients – corporate
ATM cards, the Bank’s press office said in a press release.

According to it, corporate ATM cards enable corporate customers of
the Bank to have an easy and quick access to their company funds. The
product allows Company Director and other authorized individuals to
obtain up to 3 million AMD cash funds from the Bank’s ATM network a
day. Encashment is exempt from the encashment fee for both local and
foreign currency funds.

In addition to cash withdrawal transactions Corporate ATM cards also
offer a number of other features, such as transferring funds between
company accounts, transferring funds to other accounts within the
Bank, checking company account balances, conducting foreign exchange
transactions, etc.

‘This is one of our initiatives designed to materialize our vision of
developing into the most business-friendly bank in Armenia. Our goal
is to make Bank-customer relationships as productive, comfortable
and safe as possible,’ HSBC Bank Armenia CEO, Astrid Clifford, was
quoted as saying.

She said the first results were very promising. The Bank has issued
300 corporate ATM cards which are used actively by their holders.

‘This means that this new product is in tune with the demands of our
corporate customers,’ Astrid Clifford said.

HSBC Bank Armenia cjsc was the first international bank to open in
Armenia in 1996. The bank is a joint venture between the HSBC Group,
which has 70 percent ownership, and members of overseas Armenian
businesses. The bank offers a wide range of products and services
to individual as well as corporate customers, including personal
financial services, commercial banking and treasury and capital
markets services. It has 9 branches and offices in Yerevan, as well
as 50 ATMs located throughout the city.

According to ARKA news agency’s data, on September 30 the Bank’s total
assets grew to 127.8 billion Drams, its liabilities stood at 104.8
billion Drams, the total capital was worth 23 billion Drams, credit
investments reached 83.6 billion Drams and deposits were worth 99.5
billion Drams. In the first nine months it earned 3 billion Drams in
net profits. ($1-358.21 Drams)

From: A. Papazian

ARMENIA PRODUCES 4.958 BLN KWH POWER IN JANUARY-SEPTEMBER

ARKA
November 1, 2010
YEREVAN

Armenian energy generating facilities produced a total of 4.958
billion KWh electrical power in January-September 2001, by 19.4%
more year-on-year, the National Statistical Service reported.

It said production of power by thermal power plants increased by 23%
to 796.5 million KWh. Hydropower plants produced 2.077 billion KWh,
by 36% more if compared to the same time span of last year. Armenia’s
nuclear power plant in Metsamor produced 2.081 billion KWh electricity
accounting for 42% of all power generated in Armenia. The figure
represented a 5.1% rise from a year before.

Thermal power plants accounted for 16.1% and hydropower plants for
41.0% of all electricity produced in Armenia in the first nine months
of this year. Armenia’s sole wind power plant produced 2.7 million
KWh electrical power, by almost 7% less from a year before.

From: A. Papazian

VAHAN HOVHANNISYAN: WE SHOULD TAKE THE PATH OF ARTSAKH’S RECOGNITION
Anna Nazaryan

“Radiolur”
01.11.2010 16:54

The agreements reached between the Presidents of Armenia and Azerbaijan
in Astrakhan were of humanitarian nature, no political progress was
registered, head of the ARF Dashnaktsutyun faction Vahan Hovhannisyan
told a press conference today.

As to whether the parties will sign a road map on the Karabakh conflict
settlement during the OSCE summit in Astana, the MP did not rule out
the possibility.

Vahan Hovhannisyan is assured that it’s necessary to take the path
of recognition of Artsakh. He said he will vote for the bill on NKR
recognition proposed by the Heritage faction in case the legislation
is put to a vote.

Turkish politicians declared last week they had arrived in Yerevan,
crossing the Armenian-Turkish border. does not think that the leader of
Powerful Turkey party arrived in Armenia crossing the Armenian-Turkish
border.

Vahan Hovhannisyan said he does not believe leaders of the Strong
Turkey Party arrived in Yerevan crossing the Armenian-Turkish border
as they declared last week.

From: A. Papazian

SECRETARY OF ARMENIAN SECURITY COUNCIL TO VISIT POLAND

armradio.am
01.11.2010 15:41

The delegation headed by the Secretary of the National Security Council
of Armenia, Arthur Baghdasaryan, will visit Poland November 2-4 at
the invitation of the Head of the National Security Bureau of Poland,
StanisÅ~Baw Koziej.

Within the framework of the visit Arthur Baghdasaryan will meet
Poland’s President Bronislav Komorovski.

A memorandum of cooperation is expected to be signed between the
National Security Council of Armenia and the Security Bureau of Poland.

Arthur Baghdasaryan will meet the Interior Minister of Poland, Adam
Rapacki, Defense Minister Bogdan Klich, other officials.

From: A. Papazian

ANCA ENDORSES DEVAL PATRICK FOR GOVERNOR AND STEVE GROSSMAN FOR TREASURER IN MASSACHUSETTS ELECTIONS

armradio.am
01.11.2010 11:03

The Armenian National Committee of America (ANCA) announced its
endorsements of Governor Deval Patrick for Governor and Steve Grossman
for Treasurer of the Commonwealth of Massachusetts. Gov. Patrick
has been an outspoken supporter of Armenian issues and has committed
himself to the recognition of the Armenian Genocide while Grossman
has committed himself to promoting trade between Massachusetts and
Armenia if elected.

Governor Patrick’s support was instrumental in overcoming opposition
and moving forward with the planned Armenian Heritage Park for
the Rose Fitzgerald Kennedy Greenway, where he joined His Holiness
Karekin II, Catholicos of All Armenians, Armenian-American citizens
and City and Commonwealth officials to celebrate the ground-breaking
on September 9th of this year. “He has been an outspoken supporter of
the recognition of the Armenian Genocide and has been a good friend
to our community,” stated ANCA Massachusetts activist Ara Nazarian.

Governor Patrick has served on numerous charitable and corporate
boards, as well as the Federal Election Reform Commission under
Presidents Carter and Ford, and as Vice Chair of the Massachusetts
Judicial Nominating Council by appointment of Governor Weld.

In regards to Grossman, Nazarian explained, “When the Anti Defamation
League was confronted with its lobbying against the Armenian Genocide
resolution in Congress, Steve was one of the highest profile members of
the Jewish community who publicly called ADL President Abe Foxman to
account and demanded that the organization reverse its unconscionable
position.” In a statement to the ANCA, Grossman pledged to continue
the fight to end the ADL’s genocide denial and to use the “bully
pulpit” of the treasurer’s office to press Congress to pass the
genocide resolution.

From: A. Papazian

FROM TERRITORIAL TO ARCHITECTURAL CLAIM: MONUMENT IN KARABAKH PROVOKED AZERIS TO SCANDAL IN NEWS FAIR IN IRAN
By Gayane Lazarian

ArmeniaNow
01.11.10 | 16:26

News

Armenian journalists who are back from Iran comment on the scandal

The image of a monument held by many as a symbol of Nagorno-Karabakh
was at the center of another Armenian-Azeri row during an international
media fair in Iran, leading to the Armenian delegation’s cutting
their visit short and returning home.

PanArmenian.Net and Azg (Nation) daily, representing Armenia at the
International Festival and Fair of Press and News Agencies held in
Tehran on October 25-31, left the pavilion “when the organizers of
the fair, succumbing to Azeri journalists’ hysteria, did not place
the photo of the Armenian monument ‘We are Our Mountains’ (which is
located at the entrance of Karabakh capital Stepanakert), onto the
pavilion of Armenia.”

Hasmik Harutyunyan, an Azg daily journalist, told ArmeniaNow that the
organizers of the festival pasted a country flag, name and image of
a monument symbolizing this country at each pavilion.

“The Iranian organizers pasted the photo of ‘We are Our Mountains’
monument in Nagorno-Karabakh, as a result of which Azeri journalists
raised a clamor, and said that Armenians are presenting ‘their
monument’ [meaning Azeri],” Harutyunyan says. “And Turkish journalists
joined them.”

(‘We are Our Mountains’ monument, also known as ‘Tatik yev Papik’
(grandmother and grandfather) was built in 1967, by sculptor Sargis
Baghdasaryan.)

The incident in Tehran, Iran, attracted the attention of
representatives of all countries: people started approaching and asking
what the matter was, besides, they were taking photos with the photo of
the monument in the background, according to the Armenian participants.

“By the time we were trying to smooth out the situation and not to
attach a political context to the non-political event, Suleyman
Farzaliyev, a journalist from the Azeri APA news agency, simply
intruded into the Armenian pavilion. He was saying insulting words
about our country, nation and flag. Tearing out the maps of the
Republic of Armenia and the Republic of Nagorno-Karabakh, pasted on
the wall, he wanted to tear them into pieces. Of course, we managed
to stop him,” Harutyunyan says.

During the next days of the festival, the organizers did not paste
the photo of the monument on the wall of the pavilion; however,
the Armenian delegation representatives say the photo remained in
the pavilion.

The Iranian side explained the existence of the photo in the Armenian
pavilion by the fact that they were not aware of the Nagorno-Karabakh
conflict, and they were sure that the ‘Tatik yev Papik’ was the
Armenian state national symbol, as the Eiffel Tower was presented in
the French pavilion.

The Armenian delegation demanded from the festival organizers to paste
the photo on the wall of the pavilion the next day, which, however,
did not happen. Hence, representatives of the Armenian delegation
decided to disseminate a statement among the participants of the
fair-festival and leave it three days before its closure.

The statement reads that “the organizers did not keep their promise
about re-pasting the monument photo on the panel of the Armenian
pavilion, that is why the Armenian side did not consider its further
participation in the event possible.”

Armenians and Azeris participating in international events often
have arguments over maps and symbols related to Karabakh, which has
enjoyed de facto independence from Baku since 1991 but has not been
recognized by the latter as an independent entity.

From: A. Papazian