Armenian Defence Minister: Withdrawal Of Armenian Peace-Making Subdi

ARMENIAN DEFENCE MINISTER: WITHDRAWAL OF ARMENIAN PEACE-MAKING SUBDIVISION FROM IRAQ HAS NO POLITICAL CONTEXT

ArmInfo
2008-10-20 11:15:00

ArmInfo. Armenian Defence Minister Seyran Ohanyan met yesterday
special representative of NATO secretary general for the Caucasus
and Central Asia Robert Simmons.

As press-service of Armenian Defence Ministry reported, over the
meeting they discussed the process of reforms in the Armenian armed
forces. The minister said revisiting of the defence strategy will be
prior. They also touched on the course of the NATO exercise within the
frames of Partnership for Peace programme. At the end of the meeting
Armenian defence minister said withdrawal of Armenian peace-making
subdivision from Iraq has no political context since the authorities
of Iraq had stated they themselves can control the situation in
the country.

Artur Ghukasian Considers Highfest 6th Art Festival a Success

ARTUR GHUKASIAN CONSIDERS HIGHFEST 6th PERFORMING ART FESTIVAL A SUCCESS

YEREVAN, OCTOBER 15, NOYAN TAPAN. The Highfest 6th International
Performing Arts Festival held on October 4-12 was concluded by a number
of agreements with foreign festivals and theaters. As festival Chairman
Artur Ghukasian reported at the October 14 press conference, there was
a preliminary agreement between producer Vahan Badalian and the
Versilidanza Italian theater, and the Seven Feelings dancing drama was
staged jointly with them within the framework of the festival. And
seminars for playwrights and screen writers will be held with renowned
British dramatist Mark Ravenhill. Besides, they also plan to stage a
joint Armenian-English performance. A children’s theatrical school will
be created in Armenia in the future on the initiative of the Antagon
theater.

Evaluating festival’s activity and process, A. Ghukasian said that it
was held at rather a high level and received a large resonance in
press. In total, 80 performances were staged on 15 stages.

The Highfest’s responsible person also said that the halls’ being
half-empty during some performances is to some extent their "fault,"
"but society was periodically informed about the performances, and it
means that society just did not have a willingness to watch the
performances. The performances’ being multilingual also caused
problems, but translating them requires much resources, though some
performances were translated into Armenian by subtitles."

Unholy row threatens Holy Sepulchre

Unholy row threatens Holy Sepulchre

By Wyre Davies
BBC News, Jerusalem

Story from BBC NEWS:
middle_east/7676332.stm

Published: 2008/10/19 10:50:55 GMT

An unholy row is threatening one of the most sacred places in
Christianity – the Church of the Holy Sepulchre in Jerusalem.

The centuries-old site, where many Christians believe Jesus was
crucified, is visited by hundreds of thousands of pilgrims and tourists
every year.

A recent survey says that part of the complex, a rooftop monastery, is
in urgent need of repair, but work is being held up by a long-running
dispute between two Christian sects who claim ownership of the site.

Within the main building, dark-robed monks with long beards chant and
swing incense as they conduct ceremonies in the many small chapels and
shrines.

There has been a church on this site for 1,700 years. Over the
centuries it has been destroyed and rebuilt several times – but some
parts are very old indeed.

Collapse risk

Various Christian denominations – Greek Orthodox, Armenians, Catholics,
among others – have always jealously defended and protected their own
particular parts of the site.

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Inside the Church of the Holy Sepulchre

Disputes are not uncommon, particularly over who has the authority to
carry out repairs.

For example, a wooden ladder has remained on a ledge just above the
main entrance since the 19th Century – because no-one can agree who has
the right to take it down.

The latest row is potentially much more serious.

The Deir al-Sultan monastery was built on part of the main church roof
more than 1,000 years ago.

The modest collection of small rooms has been occupied by monks from
the Ethiopian Orthodox Church since 1808.

But a recent engineering report by an Israeli institute found that the
monastery and part of the roof were "not in a good condition" and that
parts of the structure "could collapse, endangering human life".

Ownership of the monastery, however, is hotly disputed between the
Ethiopians and the Egyptian Coptic Church, and the dispute is holding
up much-needed repair work.

Although the Ethiopian monks have lived there for more than 200 years,
after losing many of their rights within the main church, the Copts
were in overall control of the monastery.

From a vantage point overlooking the disputed monastery, I discussed
the "situation" with Father Antonias el-Orshalamy, General Secretary to
the Coptic Church in Jerusalem.

"The Ethiopians were always there as our guests, but then they wanted
to take control," says Father Antonias – referring to the night in 1970
when Coptic monks were all attending midnight prayers in the main
Sepulchre church.

With the help of Israeli police, the locks in the Deir al Sultan
monastery were changed and the keys given to the Ethiopians.

Subsequent Israeli court rulings, ordering that control be handed back
to the Copts, have effectively been ignored – drawing accusations that
Israel has shown political bias in favouring the Ethiopians over the
(Egyptian) Copts.

Whatever the political and religious arguments, the Ethiopians remain
in control of the ancient monastery and refuse to budge.

They will not entertain any suggestion that the Copts should have any
say over repairs to the monastery and rooftop courtyard.

In that vein, no one from the Ethiopian Church would speak to us.

‘Unedifying’

Coptic and Ethiopian monks have come to blows in the past but they are
not the only ones who have allowed tensions to boil over.

Fights between monks from different sects in the Sepulchre are not
uncommon and passions run high, particularly on important holy days.

Father Jerome Murphy O’Connor is a professor at the Ecole Biblique in
Jerusalem.
"The whole spectacle is unedifying and totally un-Christian in nature",
says the affable Irish priest, who has witnessed all sorts of church
disagreements during his 40 years in the city.

"I’m not hopeful – either for peace in the Middle East or for peace in
the Holy Sepulchre," laughs Father O’Connor.

The impact of age and of so many pilgrims visiting the rooftop
monastery and the Sepulchre Church is taking its toll.

While the main church is said to be structurally sound, many parts of
the roof in particular are in need of extensive repair.

The Israeli government says it will pay for the work to be carried out
if the Copts and Ethiopians can resolve their differences. But after
decades of hostility neither side is rushing to compromise.

http://news.bbc.co.uk/go/pr/fr/-/1/hi/world/

Songs Lifted in Praise of an Armenian Hero

New York Times, United States

ic/19toum.html?_r=1&ref=music&oref=slogin

Music

Songs Lifted in Praise of an Armenian Hero

By MELINE TOUMANI

Published: October 17, 2008

THE state conservatory of music in Yerevan, Armenia, is named for
Gomidas, a late-19th-century composer probably unfamiliar to anyone
who is not Armenian. An avenue and a grassy park in Yerevan also bear
his name, and a monument in the center of the city depicts his long,
narrow physique, his melancholy face and the robes he wore as an
ordained priest.

Gomidas, considered the father of Armenian music, in 1899. Photo

The soprano Isabel Bayrakdarian, who with her husband is giving new
life to Gomidas’s collected work. Photo

Gomidas (or Komitas), born in 1869, is considered the father of
Armenian music. In the decade before World War I he traveled
throughout Anatolia and the Caucasus gathering songs from Armenian
villages, transcribing them in European notation, studying and
categorizing them. His manuscripts and analytical essays constitute
the Armenian folk and classical music canon almost on their own. So it
is no surprise that his name and likeness are familiar and influential
throughout the Armenian republic.

But it is less obvious why a statue of Gomidas even taller than the
one in Yerevan stands along the banks of the Seine in Paris. Yet
another monument to him is in Detroit, and in July a bronze bust of
Gomidas went up near the Parliament Building in Quebec City. In the
Paris suburb of Alfortville a street was named for him; in London, a
research institute.

One might argue, optimistically, that these memorials speak to the
imprint Gomidas left on Europe and the Western world. From 1899 to
1914 he gave concerts of Armenian music and lectures about it in
cities like Berlin, Geneva, Paris and Venice; in 1906 the French music
journal Mercure called his work `a revelation.’ Debussy said that even
if Gomidas had composed nothing beyond his song `Andouni,’ he could be
regarded as a great composer.

But Gomidas never wrote a symphony or an opera, and much of the music
he gathered and composed was lost or destroyed. He had lost his mind
by the age of 46, a misfortune thought to have been triggered by the
1915 massacres of Armenians in Ottoman Turkey. (Gomidas, then living
in Constantinople, was deported to Anatolia with about 200 others and
later released by special intervention.) He passed the last two
decades of his life incapacitated in a French psychiatric ward. So the
more likely reason for any acknowledgment of Gomidas nearly 75 years
after his death is that Armenians everywhere have been engaged in a
desperate quest to win recognition for their national hero and their
national tragedy.

Now comes what may be the best shot Gomidas has had to shine for the
Western classical music world since those lectures and concerts in
Europe a century ago. The internationally acclaimed soprano Isabel
Bayrakdarian, a Canadian citizen of Armenian descent, and her
Armenian-Canadian husband, the pianist and composer Serouj Kradjian,
may finally give patriots of Armenian music what they have been
waiting for. They are performing music of Gomidas and others on a
concert tour called `Remembrance,’ with Anne Manson and the Manitoba
Chamber Orchestra, which arrives at Jordan Hall in Boston on Sunday
and concludes at Zankel Hall on Monday. In addition they will perform
recitals in other North American cities and have just released an
album of Gomidas’s songs on the Nonesuch label.

Mr. Kradjian said he was inspired to orchestrate Gomidas’s songs when
he heard a set of 1912 wax-cylinder recordings of Gomidas
singing. Through the spare, distant-sounding performance Mr. Kradjian
noticed barely audible hints of a violin, a cello and a clarinet in
the background. His research suggested that Gomidas, before his 1915
deportation, had intended to orchestrate these compositions.

`When I realized this, my interest became a passion,’ Mr. Kradjian
said recently.

To refer to Gomidas’s compositions is a slight misnomer. Many of the
works attributed to him are folk songs that he notated or arranged; he
himself was quick to say that the people were the composers.

In his years of field work Gomidas observed the spontaneous process of
song creation in Armenian villages; his meticulous documentation
anticipated the work of Bela Bartok and later ethnomusicologists. He
analyzed the use of particular song forms for celebrations, religious
events, chores, laments and other activities. He devotes several pages
of his treatise on the plowmen’s songs of the Lori region to an
obsessively detailed typology of syllables of exclamation: ho! hey!
ay! and the like.

In 1910 Gomidas moved to Constantinople and organized a 300-member
choir that was a jewel of the city’s Armenian cultural milieu, then
thriving, and composed a polyphonic setting of the Armenian liturgy.

Skip to next paragraph Multimedia When Mr. Kradjian set out to
orchestrate a set of Gomidas songs, he turned to the choral works to
imagine how Gomidas might have harmonized traditionally monophonic
folk songs.

`Gomidas wasn’t the first person who tried to harmonize Armenian
music,’ Mr. Kradjian said. `There were people before him, such as his
teacher Makar Yekmalian, but they had an inferiority complex. When
they looked at composers of their time like Tchaikovsky, they felt
that Armenians didn’t have a music of their own because it was only
coming from clergy or villagers. But what Gomidas realized was that
even Beethoven and Mozart were influenced by German folk
music. Italian composers heard Neapolitan folk songs.’

Robert Atayan, a scholar of Gomidas’s life and work, has argued that
the composer’s three years spent studying music theory in Berlin led
him not to make Armenian music sound European but to try to produce a
comparable body of work on behalf of his own people.

Still, it is not easy to place Gomidas’s music on some kind of
East-West spectrum. In Ms. Bayrakdarian’s interpretations many pieces
have the light, energetic color of European art song; others, like
those in which a single syllable might float through an entire phrase,
reflect distinct Armenian styles of worship and lament.

Ms. Bayrakdarian ‘ whose last name, suitably, means standard bearer ‘
said of the tour with the Manitoba Chamber Orchestra that rehearsals
might have been simpler with the chamber players of the Armenian
Philharmonic Orchestra, who appear on the Nonesuch album. But
performing with a non-Armenian group is also part of her vision.

`There comes a point in a musician’s life when you must assess the
musical value of something that’s very dear to you,’ she said. `A song
that your mother sang you will always have a place in your heart, but
does it have the merit to be in a program with Ravel and Bartok? So
you can’t imagine how happy I feel when somebody who is not Armenian
appreciates this music. A project aimed at introducing Gomidas to the
world has turned into an international effort.’

The dream of bringing Gomidas’s work to an international audience was
not just the catalyst for a recording and concerts (and a 2005
Canadian Broadcasting Corporation documentary filmed in Armenian
churches and villages). It was the pretext for
courtship. Mr. Kradjian, 35, had known Ms. Bayrakdarian, 34, since
their teenage years, when both moved from Lebanon to Toronto with
their families. Mr. Kradjian played the organ at the same Armenian
church where Ms. Bayrakdarian sang in the choir.

By 2001 both were busy pursuing successful careers, and they had not
crossed paths in 10 years. Then Mr. Kradjian decided to approach
Ms. Bayrakdarian about a project that could bring Gomidas’s music to a
wider audience. `It turned out she had the same dream,’ Mr. Kradjian
said.

He added simply that getting married, having a child and building a
life together turned out to be a quicker and easier undertaking than
their work on Gomidas.

http://www.nytimes.com/2008/10/19/arts/mus

A Turkish writer’s plea

Boston Globe, United States

A Turkish writer’s plea

October 19, 2008

POLITICAL scientists evaluate societies with quantitative
methods. Literary figures prefer a more telling, qualitative
criterion: freedom of expression. The 2006 Turkish Nobel laureate for
literature, Orhan Pamuk, delivered a devastating critique of the power
elite in his own country last week when he lamented the oppression of
Turkish writers in a speech at the Frankfurt Book Fair.

Pamuk’s description of the situation of Turkish writers was
courageous, and not only because he gave it in the presence of
Turkey’s President Abdullah Gul. The novelist’s denunciation of
attempts to silence writers was striking because in 2005 he himself
had been charged, under the infamous Article 301 of the penal code,
with "public denigration of Turkish identity." His offense was to have
told a Swiss newspaper that "30,000 Kurds and a million Armenians were
killed in these lands and nobody but me dares to talk about it."

Article 301 has since been amended. But as Pamuk said in Frankfurt:
"The state’s habit of penalizing writers and their books is still very
much alive; Article 301 of the Turkish penal code continues to be used
to silence and suppress many other writers, in the same way it was
used against me." Pamuck said there are hundreds of writers and
journalists being prosecuted and found guilty under the code.

Pamuk was not only protesting the folly of repressing writers in the
name of protecting Turkish identity. He also made a plea for Turkey’s
writers to "value the richness of our cultural traditions and our own
uniqueness."

Turkish political elites should heed this plea. Turkey wants to be
both true to itself and truly European. That can happen only when it
allows writers to express themselves freely.

Day Of Gyumri To Be Marked October 18

DAY OF GYUMRI TO BE MARKED OCTOBER 18

ARMENPRESS
Oct 16, 2008

GYUMRI, OCTOBER 16, ARMENPRESS: Day of Gyumri will be celebrated
October 18. Responsible for public relations of Gyumri municipality
Lilit Aghekian told Armenpress that the re-opening of the central
square of the town is the basis of the celebration.

The square has been repaired for three months, the 3,700 sq. meters
of it is entirely covered with three-colored basalt stones. A group
of bronze statues dedicated to the heroes of Vardanank will be placed
here by October 18 in the center of which will be Vardan Mamikonian
on a horse with Ghevond Yerets and Catholicos Hovsep Vayotsdzortsi
on both sides, and Mamikoniants Great Lady and prince Kamsarakan.

According to the author of the monument, Artush Papoyan, the work is
unique in its essence and will make the appearance of the central
square complete. Rizhkov street which was also covered with stones
will also open on the Day of Gyumri.

On the same day honorable prizes of the year – "Honorable Citizen",
"Honorable Master", "Best Investor of Gyumri" will be handed in
"October" cinema. The ceremonies of the day of town will continue
till late at night and will end with a concert and fireworks.

Armentel Launches Armenia’s First 3g Network

ARMENTEL LAUNCHES ARMENIA’S FIRST 3G NETWORK
by Michael Lacquiere

Global Insight
October 1, 2008

The roll-out of 3G services in Armenia is further indication of the
market’s growing maturity.

Armentel has become the first operator to offer 3G in Armenia,
launching the service in the capital Yerevan. It will offer 3G services
to both post-paid and prepaid subscribers. The data-transmission cost
of the service will be included in tariffs for GPRS packages. Services
available to subscribers include video calls and full internet
access. Armentel, fully owned by Russia’s VimpelCom, had 655,000 mobile
subscribers at the end of the first half of 2008. Rival operator
K-Telecom, owned by VimpelCom’s Russian rival Mobile TeleSystems
(MTS), had 1.49 million subscribers at that time. A third mobile
licence is scheduled for tender before the end of the year.

Global Insight Perspective Significance: The smaller operator within
Armenia’s mobile duopoly has become the pioneer of 3G services in
the country, launching in the capital Yerevan.

Implications The move is unlikely to alter the dynamics of the mobile
market, given that rival operator K-Telecom is itself lining up a 3G
launch before the end of the year.

Outlook The roll-out of 3G services and the imminent tender of a
third national GSM licence are indicative of the growing maturity
of the Armenian mobile sector, notable amongst the emerging,
high-growth-potential markets of neighbouring Eurasian countries.

Outlook and Implications

Armentel’s 3G Launch Unlikely to Change Market Dynamics:By pioneering
3G services in Armenia, Armentel has struck a small blow against
its rival, but it is unlikely to be massively significant as
K-Telecom is itself planning to launch 3G services before the end of
2008. K-Telecom, which operates under the "Vivacell" brand, entered
the Armenian mobile market after Armentel, in July 2005, but has
since usurped Armentel and now dominates the sector. Both companies
were awarded 3G licences in October 2007, and by launching first
Armentel will hope that it can claw back some ground by tapping into
the country’s organic growth potential and possibly even churning
customers from K-Telecom. Given the current gap between the two
operators in terms of market share, and K-Telecom’s imminent 3G launch,
however, it is unlikely that Armentel’s announcement will massively
alter Armenia’s mobile market dynamics.

Further Indication of Growing Maturity of Armenian Mobile Sector:The
launch of 3G services by Armentel, coupled with the likely emulation
of this feat by K-Telecom, is a further indication of the growing
maturity of the Armenian mobile market. The sector has benefited
from the arrival over the last two years of Russian giants MTS and
VimpelCom, and the investments they have brought. Uptake levels have
soared, and penetration at the end of 2007 was 57%, with Global Insight
estimating that this figure will increase further to a very healthy 78%
by the end of 2008. The country’s Public Services Regulatory Commission
(PSRC) has indicated that a tender for a third GSM licence will take
place in 2008, and the entrance of another operator will positively
benefit the market, acting as a natural buffer on tariff prices (see
Armenia: 30 July 2008). While many of the telecoms sectors of Eurasia
are notable as emerging markets with high growth potential, Armenia
is developing into one of the better-developed, more mature markets.

‘World Wildlife Fund’ To Enable Armenia’s Business-Sector To Take Pa

‘WORLD WILDLIFE FUND’ TO ENABLE ARMENIA’S BUSINESS-SECTOR TO TAKE PART IN ECOLOGICAL PROGRAMMES

ArmInfo
2008-10-15 10:43:00

ArmInfo. ‘World Wildlife Fund’ will enable Armenia’s business-
sector to take part in the ecological programmes, representative of
the World Wildlife Fund (WWF) in Armenia Artur Khoyetsyan told ArmInfo.

He said WWF-Armenia schedules to appear a mediator in development
of ecological programmes within the frames of cooperation. ‘The
business-sector will give an application for any programme: a programme
for improvement of the infrastructure, personnel training, echotourism
development, etc. For our part, we announce a competition where R&D
establishments, public organizations and other interested parties may
take part. The winners of the competition will receive a grant by the
client>, A. Khoyetsyan explained. He added that the project executors
will have to submit a financial report on a regular basis.’We have not
yet received business applications, however we hope they will appear
soon>, he added. As A. Khoyetsyan said, this is the first complex
business-related programme in Armenia. He recalled that WWF organizzed
a programme in 2007 jointly with HSBC bank. ‘Within the frames of the
programme, every guest of the Armenia-Marriott hotel could donate
one dollar to WWF. As a result, 300 dollars were gathered in all
which were used for acquisition of tires for an off-roader. However,
the fact that we created a precedent and intend to develop it was of
most important for us’, he emphasized.

Montebello Postpones Trash Decision

MONTEBELLO POSTPONES TRASH DECISION
By Amanda Baumfeld, [email protected]

San Gabriel Valley Tribune
10/09/2008 11:30:47 PM PDT
CA

Residents hold up signs of protest on Wednesday at the Montebello City
Council meeting. (Watchara Phomicinda / Staff Photographer)MONTEBELLO
– In front of hundreds of protesting residents, the City Council on
Wednesday postponed a decision to let voters decide who takes out
the trash in Montebello’s commercial areas.

With some members saying they were afraid of pending litigation, the
City Council voted 3-2 to put off a decision to place a referendum on a
March ballot. The referendum would allow a popular vote to determine
if Athens Services should have the sole right to haul trash from
commercial areas.

Mayor Bill Molinari and Councilwoman Mary Anne Saucedo-Rodriguez
opposed, while council members Robert Urteaga, Rosemarie Vasquez and
Kathy Salazar voted to postpone the decision.

Despite the council’s decision, Molinari and Saucedo-Rodriguez said
they supported the will of the petitioners.

"My opinion is that we should … allow this to go to a vote of the
people," Molinari said.

The vote came after Athens Services in July was awarded a contract
to haul all trash in the city. Previously, much of the commercial
trash service was carried out by 13 independent haulers.

"I think the council made the proper decision," said Dennis Chiappetta,
executive vice president of Athens. "The residents were lied to
dramatically."

Tuesday’s decision upset many residents, who packed the council
chambers and spilled out into the hallway to hear the verdict.

"The bottom line is they are not listening to the people that got
them elected," said resident

Chris Robles.

He and several others said the council should have decided to put
the vote up to the people, despite the pending legal issue.

Hundreds of Montebello’s residents, especially members of
Armenian-American families, have a long history in the garbage
business. A large part of the city’s economy is associated with
refuse hauling. Independent haulers want the chance to bid on any
city contract.

The independent haulers circulated a petition calling for a referendum
to be placed on the ballot that would revoke Athens’ contract and
allow other haulers to work in the city.

They gathered 6,286 signatures. Of those, 4,578 were deemed valid by
the Los Angeles County Registrar/Recorder’s Office. State law requires
2,550 signatures or 10 percent of the city’s 25,496 registered voters
to qualify for the ballot.

Then on Monday, Irene Villapania of Montebello, with the support of
Athens, filed a lawsuit against the city. The suit challenges the
validity of the referendum and questions how signatures were collected.

Villapania, a director at Azusa Chamber of Commerce, is being
represented by several attorneys who also represent Athens.

Many Athens employees also came to the meeting, some speaking on the
benefits the exclusive contract could bring to the city, such as less
truck traffic and money for infrastructure.

The 15-year contract, worth about $7.8 million annually, provides
Montebello with $500,000 and 7.5 percent of gross receipts from
commercial accounts. Approved by Urteaga, Salazar and Vasquez, it
also phases out the 13 independent haulers who currently collect trash.

The same council majority is now asking the residents to wait for
the outcome of the lawsuit building frustration among independent
trash haulers.

"There is no victory for (Urteaga, Salazar and Vasquez), no matter
which way the issue falls," said Ron Saldana, who represented many
of the independent haulers and is the executive director of the Los
Angeles County Disposal Association.

"It is only a failure of leadership of the majority who have forced
these actions," he said.

When it came time to vote on the issue, Saucedo-Rodriguez made a motion
to allow the referendum, which was quickly followed by a substitute
motion from Salazar to wait until after the lawsuit.

Vasquez seconded the substitute motion before hearing what it was,
causing some residents to cry conspiracy.

"That tells you right there that there’s a deal in place with these
council people," said Jack Topalian of Montebello.

Trade Financing Instruments Priorities For Armenia: BTA Investbank

TRADE FINANCING INSTRUMENTS PRIORITIES FOR ARMENIA: BTA INVESTBANK

ARKA
Oct 6, 2008

YEREVAN, October 6. /ARKA/. Armenia should set priorities in trade
financing instruments, said Nur Bakbergenov, deputy chairman of the
BTA Investbank’s Directorial Board.

In 2005, the bank made only a couple of small deals on trade financing
in Armenia.

"Taking into account the global market turmoil, we believe the service
can have a promising future in Armenia," Bakbergenov added.

Trade financing terms will be the same in Armenia as they are in
Kazakhstan, as the bank plans to attract investments from Almaty for
this purpose.

"I hope the terms will be much more favorable than on-hand financing
Armenian banks offer," Bakbergenov said.

He refused to make public the results of the market surveys the bank
had carried out.

In his turn, CEO of Kazakhstan’s BTA Investbank Timur Sabirbaev saud
the bank effected $1bln worth trade financing deals in the first
half. Loan portfolio of BTA Group’s trade financing totals $5.5bln,
covering around 40% of Kazakh market.

"Armenia is capable of giving a start to trade financing and customers
take a keen interest in financial flows," Sabirbaev said.

Taking this into account, the bank has designed a number of attractive
products for Armenian market.

BTA Investbank is the legal successor of the International Investment
Bank established in 1991.

The bank is the strategic partner of Kazakhstan’s leading BTA Bank
which is 48.8% shareholder of Armenian BTA Investbank. The bank’s
other shareholders are the Austrian ZRL (31.1%) and the Kazakh-Armenian
MOBILEX Company (20%).

As of June 30, the bank’s capital and assets totaled 4.6bln drams and
13.3bln drams respectively. Its authorized capital stock amounts to
5.3bln drams. The bank’s first-half negative profit was 775.1mln drams.

According to the ARKA News Agency, BTA Investbank ranks 18th in
terms of first-half assets and is the 15th in terms of loans. The
bank ranks 17th in terms of liabilities and is the 21st in terms of
total capital. It also ranks 11th in terms of the authorized capital
stock. ($1 – 303.20 drams)