HEAD OF ISTANBUL POLICE DEPARTMENT DISMISSED FROM WORK
A1+
[03:36 pm] 06 February, 2007
Ahmed Ilhan Gyuler, head of the Istanbul police department, was
dismissed from work. He is accused of not preventing Hrant Dink’s
assassination and not informing the officials about the warning.
To note, in 2006 the Istanbul police forces were warned about the
upcoming attack on Dink’s life.
ISSUES RELATING TO COMING PARLIAMENTARY ELECTIONS AND NKR CONFLICT SETTLEMENT DISCUSSED AT OSCE PA DELEGATION’S MEETINGS AT NATIONAL ASSEMBLY
Noyan Tapan
Feb 06 2007
YEREVAN, FEBRUARY 6, NOYAN TAPAN. Issues relating to the Karabakh
conflict settlement, regional energetic security and electoral
processes were discussed at the February 5 meeting of the delegation
headed by Goran Lennmarker, the President of the OSCE Parliamentary
Assembly with Vahan Hovhannisian, the NA delegation head at the OSCE
PA, NA Deputy Speaker, and delegation member Artashes Geghamian. OSCE
PA Deputy Chairperson Tone Tingsgard, OSCE PA Secretary General Spencer
Oliver, OSCE PA Deputy Secretary General Tina Schon, Communications
Director Klas Bergman, President’s Adviser Thomas Horberg are among
the delegation staff.
G.Lennmarker mentioned that the OSCE attaches great importance to free
and just holding of the parliamentary and president’s elections in
Armenia what will have great importance in the issue of development
of democracy in Armenia.
It was mentioned that OSCE PA Deputy Chairperson Mrs.Tone Tingsgard
will be appointed as the OSCE PA observation mission head to
Armenia. Touching upon the regional energetic security problems,
Mr.Lennmarker emphasized the importance of the issue for Armenia,
mentioning that problems of the energetic security are widely discussed
in all over the world. Expressing his anxiety on the occasion of the
NKR conflict settlement process, Mr.Lennmarker mentioned that a golden
possibility for solution of the problem is being lost. In his opinion,
the OSCE Minsk Group proposals are still the best solution of the
problem settlement. In the OSCE PA President’s opinion, it is time to
reach mutual agreement on the problem settlement what is important not
only for the conflicting countries but also for the region and Europe.
NA Deputy Speaker Vahan Hovhannisian highly estimated importance
of the OSCE activity in the regional processes. Mr.Hovhannisian
attached importance to holding free and just elections and presence
of observation missions, welcoming within this context the appointment
of Mrs.Tingsgard who is famous among the society as a just and strict
observer. Reforms of the Electoral Code were touched upon, it was
mentioned that a series of reforms were implemented which make the
electoral process more transparent and controlable. The amendment
was attached importance, according to which equal TV broadcast will
be given during the pre-electoral campaign to all political parties
not only by state but also by private TV channels.
Touching upon the NKR problem settlement, the NA Deputy Speaker
mentioned that starting from late 90s the OSCE Minsk group did a
volumnious work, and the Co-Chairmen presented some valuable proposals
which were accepted by Armenia and refused by Azerbaijan what is an
obstacle for any positive movement in the negotiations process. The
aggressive and warlike statements again made by Azerbaijani President
Ilham Aliyev during the recent days do not assist the peaceful
settlement of the process as well as create a dangerous situation,
what contradicts the OSCE regulations and European ideology. In
V.Hovhannisian’s words, re-start of the war will have disastrous
consequences first of all for Azerbaijan. In this sense, the claim of
the head of the Turkish delegation to the OSCE addressed to Azerbaijan
to take the territories "belonging" to it with arms is concerning
and inadmissible.
Artashes Geghamian mentioned that the problem of power-generating
materials is in the basis of torpedoing of the Karabakh conflict
settlement by Azerbaijan. In his opinion, Azerbaijan, still after
singining the cease-fire in 1994, avoided the peaceful settlement
on various pretexts to be able to implement constructions of
the Baku-Tbilisi-Jeyhan oil pipeline and Baku-Tbilisi-Erzrum gas
pipeline. If the pipelines passed over borders of Karabakh and Armenia,
at least 1 bln dollars less would be spent on their construction. In
his words, it is a pity, the international community and international
structures did not put pressure then on Azerbaijan what they now do
towards Russia, connected with supplies of Russia towards Europe. In
A.Geghamian’s opinion, unpunishment and international community’s
indifference brought to the fact that Azerbaijan has today initiated
construction of the Kars-Akhalkalak-Tbilisi-Baku railway at the
cost of 700-800 mln, in the case when the Kars-Gyumri-Tbilisi-Baku
railway, existing and having proved its economic purposefulness
and not demanding additional investments for the re-putting into
operation, does not function only because of the blockade of Armenia
being continued for more than 17 years. Geghamian mentioned that the
opposition in any case may have insuperable disagreements with the
authorities, excluding the issue of the Artsakh problem settlement
demanding a joint decision. In A.Geghamian’s opinion, the peaceful
settlement of the issue demands a universal solution which must be
obliged to the sides within the framework of obligations undertaken
at the Council of Europe. In his opinion, the process of the Nagorno
Karabakh conflict settlement depends also on holding the elections
to take place in Armenia in correspondence with the European standards.
As the Noyan Tapan was informed by the RA NA Public Relations
Department, the delegation headed by OSCE PA President Goran Lennmarker
also met at the Parliament with Armen Rustamian, the Chairman of
the NA Standing Committee on Foreign Relations. OSCE mission head to
Armenia Vladimir Pryakhin was present at the meeting.
A.Rustamian presented the spheres of activity of the committee headed
by him, mentioning that development of interparliamentary ties and
implementation of parliamentary diplomacy in the foreign policy
are within the framework of the committee’s responsibility. All
the international agreements adopted at the parliament were
and are passed by the committee. Joining them, Armenia more
deepened the Eurointegration process. All the documents which
gives Armenia possibility to have legislation corresponding to the
all-European standards, were mainly adopted. It was mentioned that
the amended Constitution opened a new door for implementation of the
obligations. Considering the European integration as one of priorities
of the foreign policy of Armenia, A.Rustamian mentioned that the
European Neighbourhood Policy Actions Plan signed in Brussels opens
new prospects of development in all the directions for the Armenia-EU
relations.
Touching upon the Artsakh problem settlement and attaching importance
to international structures as well as to role of parliamentary
organizations in the issue of the problem settlement, Rustamian
expressed a viewpoint that not only contents of the proposed
solutions but also the atmosphere created in the society, how much
the authorities prepare the societies for mutual compromises,
are important in the problem solution. As the EU policy is open
borders, open society, free trade, in Mr.Rustamian’s opinion, the
conflict settlement is possible in conditions of mutual cooperation,
interparliamentary cooperation, regional economic cooperation. It
was mentioned that the committee org anized parliamentary hearings
two years ago concerning the Karabakh conflict settlement.
Mr.Rustamian considered the coming elections as the most important
ordeal for Armenia in the sense of democracy, in his opinion, one
must do its best for free and transparent elections are held.
G.Lennmarker mentioned that the integration to Europe is based
on respect towards universal values so the necessity of holding
the elections according to the European standards is attached
importance. In the conflicts settlement issue Lennmarker attached
importance to activization of the dialogue with neighboring
countries, role of the parliamentary diplomacy and development of
innerparliamentary ties.
TURKEY BECOMES VERY OPEN, VERY FAST, SAYS COUNTRY’S CHIEF E.U. NEGOTIATOR
Turkish Press, MI
Feb 6 2007
ANKARA – European Union hopeful Turkey`s Chief Negotiator Ali Babacan
praised his country`s rapid transformation toward openness.
"Turkey has become very open, very fast," Babacan told Christopher
Power in a commentary published in the "Business Week".
The assassination of Turkish Armenian journalist Hrant Dink "looks
like an anachronism," Babacan stated. "It`s not compatible with the
open society we are looking for."
Dink was shot dead on January 19th, outside the offices of his Agos
weekly in Istanbul.
Babacan also underlined that "a mental reform" was still needed in
Turkey and that certain things "were not changing overnight."
-TRANSFORMATION OF TURKEY-
Christopher Power said in his commentary that Turkey has striven
to come up to EU standards of openness to prepare its bid to join
the Union.
"A whole new media web has sprung up in the Eurasian nation of 75
million people, where almost none existed before," Power wrote.
"From a single state-owned TV station, more than 300 channels have
emerged. Eleven hundred radio stations crowd the airwaves. Every
private school is now linked to the Internet, and the government is
distributing 400,000 PCs to pupils."
Power cited other dynamics in Turkey`s transformation toward openness:
"The Governor`s Office in Istanbul has dispatched thousands of Turks
to work alongside civil servants and others in the EU states to learn
the way of life of the Western societies," he said.
Power also stated that Turkey has opened its economy to a surprising
degree.
"In the last five years exports have soared from $36 billion to $86
billion. Foreign direct investment has zoomed from $1 billion to $18
billion. GDP growth has averaged 7 percent," Power said.
"But Turkey does not want to lose its economic gains in an atmosphere
of political murders and terror fomented by a small minority. It
wants the payoffs of globalization, not the blowback," Power added.
Railway Market Magazine, Poland
Feb 2 2007
Georgia: Political storm clouds still surround new rail link
Although the financing, engineering and logistical issues surrounding
the construction of the Kars-Akhalkalaki railway have been largely
solved, the political concerns surrounding the project remain.
Armenian President Robert Kocharian’s Press Secretary Victor
Sogomonian recently reiterated Yerevan’s opposition to the project,
saying Armenia would use "political methods" to hamper the project’s
implementation.
"The fact that the US refused to sponsor the building of the railway
was the result of appropriate steps taken by Yerevan," explained
Sogomonian, as quoted by the newspaper Rezonansi.
Russia, a staunch Armenian ally, is also against the railway’s
construction. This would be unlikely to deter Georgia, were it not
for the fact that their main patron and strategic partner, the United
States, has also voiced its opposition to the project. The US
recently passed a bill forbidding American financing of the railway’s
construction, out of fear that the railway will further isolate
Armenia, whose borders with both Azerbaijan and Turkey have been
closed since the early 90s.
According to the chair of the parliamentary Committee on European
Integration, David Bakradze, Georgia will not ignore its own
interests because of American opposition. However, Bakradze also
mentions that the US is not "totally" against the railway.
Some Georgian analysts agree with Bakradze on this.
"As a rule, if the US is against something, it does its best to make
sure it doesn’t happen. In this case the situation is different,"
explains analyst Mamuka Areshidze in the newspaper Kvela Siakhle.
The analyst says the US’s position regarding the railway is
ill-defined. US diplomat Matt Bryza has said that despite being
against any regional project that bypasses Armenia, America will not
disturb its implementation.
Deputy US Ambassador to Armenia Anthony Godfrey made a similar
statement several days ago, reports the newspaper Rezonansi.
The US and Armenia both fear the railway will add to Armenia’s
isolation, but this itself is questionable. Georgia is trying to show
the potential benefits the railway could bring Armenia, which already
conducts a large amount of trade with Turkey via Georgia.
"Georgia cannot change the relationship that exists between Armenia
and Azerbaijan and Armenia and Turkey. But Armenia will still profit
from this project because the railway will allow Armenia improved
access to European products," explains Bakradze in the newspaper
Kvela Siakhle.
DeFacto Agency, Armenia
Feb 2 2007
RESOLUTION CONDEMNING HRANT DINK’S ASSASSINATION INTRODUCED TO U. S.
SENATE
On February 1 the U. S. Senate Foreign Relations Committee Chairman
Joseph R. Biden, Jr. (D-DE) introduced legislation condemning the
assassination of Hrant Dink and honoring his legacy of tolerance and
peaceful change.
According to the information DE FACTO got at the Armenian Assembly of
America (AAA), Assembly Executive Director Bryan Ardouny stated, "We
commend Senator Biden for spearheading this important legislation.
The atmosphere that led to this killing must be changed, starting
with the repeal of Article 301 of the Turkish Penal Code. As a moral
leader, America must ensure that minority populations in Turkey are
afforded every protection."
Dink, who worked hard to foster dialogue and understanding between
Armenians and Turks, was gunned down outside his newspaper office on
January 19 in Istanbul, Turkey. An outspoken advocate for democratic
reform, Dink stood trial several times for his public comments on the
genocide and was convicted in October 2005 for "insulting
Turkishness" under Article 301 of the Turkish Penal Code. He received
a six-month suspended sentence and was set to appear in court again
in March 2007 for affirming the Armenian Genocide. "Hrant Dink was a
leading voice in Turkey’s Armenian community and an eloquent advocate
for human rights, press freedom, and democracy," Senator Biden told
the Assembly. "His assassination was an outrage and a tragedy.
Hrant’s legacy deserves the Senate’s respect. His murder demands our
action."
The Senate bill is similar to H. Res. 102, which was introduced by
Congressman Joseph Crowley (D-NY) on January 29 with the support of
the Armenian Assembly. The Biden resolution condemns Dink’s
assassination and supports Turkey’s pledge to conduct an exhaustive
investigation into his killing. Furthermore, the legislation urges
Turkey to take appropriate action to protect freedom of speech in
Turkey by repealing Article 301 of the Turkish Penal Code, which
criminalizes public discussion on the Armenian Genocide. The
resolution also calls on Turkey to reestablish full diplomatic,
political and economic relations with Armenia.
CounterCurrents.org, India
Jan 31 2007
US Holocaust Commission And Holocaust Denial
By Dr Gideon Polya
01 February, 2007
Countercurrents.org
The US recently successfully put a Resolution to UN General Assembly
RIGHTLY condemning Holocaust Denial. However the Resolution ignored
huge non-Jewish Holocausts e.g. the US-driven Iraqi Holocaust and
thus was Holocaust Ignoring, something even WORSE than Holocaust
Denial because it is Passive Holocaust Denial that admits of no
refutation – who does one refute something that has not even been
asserted?
This US Resolution was an act of (a) gross dishonesty and (b) gross
hypocrisy. Thus (a) the dishonest IMPLICATION was that Iran (not
mentioned in the Resolution but mentioned in the US and Israeli UN
speeches) has offended – yet the Iranian delegate made it quite clear
that Iran recognized the horror of the Jewish Holocaust and condemned
the `Genocide and immense sufferings associated with that horrific
crime’ (words of the Iranian delegate) (see:
C_ID=40398 ); and (b) the
US is actively involved in on-going Holocaust Commission in Occupied
Iraq and Occupied Afghanistan and, together with Israel, has been
involved in obscene, public promotion of an Iranian Holocaust
involving nuclear weapons.
By NOT specifying OTHER Holocausts the US Resolution was an act of
egregious Holocaust Ignoring i.e. PASSIVE Holocaust Denial. The
Resolution SHOULD have condemned ANY denial of ANY Holocaust.
Major Holocausts over the last century or so NOT mentioned in the US
Resolution include the following (in order of occurrence): the
1904-1907 German Namibian Genocide (the Herero population dropped
from 80,000 to 15,000); the 1915-1918 Turkish Armenian Genocide (1
million victims – still denied by Turkey); the 1930-1933 Russian
Ukrainian Genocide (5 million victims); the 1937-1945 Japanese
invasion of China (35 million Chinese victims); the non-Jewish
victims of the Nazi German World War 2 Holocaust – 20 million Soviet
citizens, 6 million Poles (half of them Jewish), 1 million Serbs, 0.5
million other Yugoslavs and 0.5 million Roma (Gypsies); the man-made,
1943/44 British Bengali Holocaust (4 million victims – still largely
written out of British history books); the 1947 Indian Partition (1
million victims); the 1994 Hutu Rwandan Genocide (1 million victims);
the 1971 West Pakistani Bengali Holocaust (3 million victims, 80%
male; 0.3 million women raped by the US-backed West Pakistan
military); the 1965 Indonesian Genocide (1 million victims); the
1975-2000 Indonesian East Timorese Genocide (0.2 million victims out
of a population of about 0.6 million); the US Indo-China war (13
million excess deaths); the post-1950 First World-driven Third World
Holocaust (1.2 billion excess deaths, mainly in Africa, Asia and
South America); and the post-1950 First World-driven Muslim Holocaust
(0.6 billion excess deaths; mainly in Africa and Asia).
Conspicuously absent from the US Resolution were the ongoing
1990-2007 Iraqi Holocaust ( 2.6 million excess deaths and 3.7 million
refugees so far); and the 2001-2007 Afghan Holocaust (2.2 million
excess deaths and 3.7 million refugees so far) (see:
,
,
and
) .
Not content with horrendous Holocaust Commission and Holocaust Denial
in relation to the Iraqi Genocide (Iraqi Holocaust) and the Afghan
Genocide (Afghan Holocaust), the US and its proxy Israel have both
been threatening pre-emptive nuclear attack on peaceful,
non-nuclear-armed, non-aggressive Iran (a Google search for the
obscene phrase `nuke Iran’ and for the phrase `Jewish Holocaust’
today yielded about 0.3 million URLs in both cases) – clear,
unequivocal and horrifying Holocaust Promotion.
It is not only the US that is involved in Holocaust Promotion,
Holocaust Commission, Holocaust Ignoring and Holocaust Denial – the
UK, Australia and their Coalition and NATO Allies are also involved
in Holocaust Commission and Holocaust Denial in relation to both
Afghanistan and Iraq (see:
). Racist White Australia has been involved in all the US post-1950
Asian wars, is currently actively involved in the Iraqi Holocaust and
the Afghan Holocaust and is in practical denial over the appalling,
ongoing Australian Aboriginal Genocide (the annual death rate of
Australian Aborigines, 2.2%, is similar to that of Australian sheep,
2.5%) (see: ). Israel as a
key partner in US-Israeli State Terrorism is involved in an ongoing
Palestinian Genocide (post-invasion excess deaths 0.3 million; 6
million Palestinian refugees; 3.5 million Occupied Palestinians held
in abusive captivity for 40 years) (see:
).
The Occupier of another country has acute, unequivocal
responsibilities under the Geneva Conventions to keep its conquered
subjects ALIVE (read them, especially Articles 55 & 56:
). The US, UK, Australia,
the Coalition and NATO have grossly violated these obligations in
Occupied Afghanistan as shown by the following estimations from UN
Population Division data and UNICEF data.
(a) From UN Population Division data (see: )
the post-invasion excess deaths (avoidable deaths, deaths that did
not have to happen) in Occupied Iraq and Occupied Afghanistan now
total (as of January 2007) 0.9 million and 2.2 million, respectively
– mostly Women and Children and mostly through US alliance violation
of the Geneva Conventions.
(b) From the same source, the post-invasion under-5 infant deaths in
Occupied Iraq and Occupied Afghanistan now total 0.5 million and 1.9
million, respectively.
(c) Year 2005 annual under-5 infant death rate (i.e. as a percentage:
deaths for every 100 under-5 year old infants in 2005 in a particular
country) was 6.7% (Occupied Afghanistan ); 2.8% (Occupied Iraq); 5.5%
(Occupied Somalia); 2.7% (Occupied Haiti); and 0.47% (Occupied
Palestinian Territory) – as compared to 0.12% (Occupier Australia)
and 0.12% (Occupier Israel)(as determined from the latest UNICEF
data: ; for detailed analysis see:
).
The war criminality of what the US and its allies the UK, Australia,
and complicit Coalition and NATO countries are doing in the Occupied
Iraqi and Afghan Territories can be most dramatically seen by
comparing the above annual under-5 infant death rates in those
Occupied Territories (2.8% and 6.7%, respectively) with the `annual
death rate’ of 10% for Australian prisoners of war (POWs) of the
Japanese in WW2 – noting that for crimes such as this Japanese
generals were tried and hanged in the aftermath of that conflict.
In summary, the US recently put up a UN resolution RIGHTLY condemning
the obscenity of Holocaust Denial – however this was an act of gross
hypocrisy and dishonesty because the Resolution IGNORED numerous
OTHER Holocausts including the ON-GOING Iraqi Holocaust and the
ON-GOING Afghan Holocaust (post-invasion excess deaths 0.9 million
and 2.2 million, respectively PLUS refugees totalling about 3.7
million for EACH occupied country EQUALS Genocide and Holocaust). The
US, the UK and their Allies are involved in Holocaust Promotion,
Holocaust Commission, Holocaust Ignoring and Holocaust Denial in
relation to both Afghanistan and Iraq (see:
).
Peace is the only way but silence kills and silence is complicity.
Decent people are absolutely obliged to INFORM OTHERS about such
horrendous abuses of humanity and to act ethically in all their
dealings with those complicit in such horrendous crimes. Sanctions
and Boycotts that were effective against the racist Apartheid regime
in South Africa are surely urgently required now in the face of
egregious Anglo-American Holocaust Promotion, Holocaust Commission,
Holocaust Ignoring and Holocaust Denial.
Dr Gideon Polya published some 130 works in a 4 decade scientific
career, most recently a huge pharmacological reference text
"Biochemical Targets of Plant Bioactive Compounds" (Taylor & Francis,
New York & London, 2003). He is a Melbourne scientist and writer and
is currently editing a completed book on global avoidable mortality
(numerous articles on this matter can be found by a simple Google
search for "Gideon Polya" and on his websites:
inks.html and
) .
tm
ARMENIA AND MICROSOFT SIGN AGREEMENT ON COOPERATION
Yerevan, January 31. ArmInfo. The press-service of the Armenian
Ministry of Trade and Economic Development told ArmInfo that Minister
Karen Chshmarityan and President of the Microsoft Corporation Bill
Gates have signed an Agreement on Cooperation.
According to the source, on the Corporation’s invitation, a
governmental delegation led by K.Chshmarityan was on a visit to
Scotland on January 29 to participate in the Government Leaders Forum
– Europe organized by the Microsoft in Edinburgh. The members of the
Armenian delegation were Armenian Ambassador to Great Britain Vahe
Gabrielyan, Advisor of the Armenian Prime Minister Ara Hakobyan, and
Executive Director of the Enterprise Incubator Foundation Bagrat
Yengibaryan. An agreement on strategic cooperation between the
Armenian Government and the Corporation was reached in 2006, within
the framework of the Armenian Prime Minister’s meeting with the Vice
President of the Microsoft’s European representative office in
Yerevan.
According to the Agreement, the Microsoft is to implement a number of
investment educational and innovation projects for the IT further
development in Armenia. Particularly, it is planned to set up a
Microsoft Innovation Center in Yerevan. In its turn, the Armenian
Government will activate efforts for copyright protection and
application of legal software in the state governing system. Signing
of this agreement is the logic continuation of the Armenian
Government’s strategic cooperation with the largest international
companies in the IT sphere, such as Alcatel, SUN Microsystems,
Heulett&Packard and many others.
KHARBERD ORPHANAGE LEAVERS MOVE TO NEW SUBSIDIARY BUILDING
YEREVAN, FEBRUARY 1, NOYAN TAPAN. The specially specialized orphanage
of Kharberd is envisaged for 6-18 year old children. 235 invalid
children are taken care here at present. But, 80 of those taken care
here are of higher age already. Need of special care makes them to
remain in the orphanage.
It is envisaged by the 2004-2015 national program on the children’s
rights protection to implement organization of the Kharberd
specialized orphanage leavers’ care in another institution. As the
Noyan Tapan correspondent was informed by Lena Hayrapetian, the Chief
of the Children’s Problems Sub-Department of the Family, Women and
Children’s Problems Department of the RA Ministry of Labour and Social
Issues, 53.5 mln drams (about 148.6 thousand U.S. dollars) were given
from the 2007 state budget for that purpose. One of the subsidiary
buildings of the Kharberd orphanage not put into operation will be
restored by the given money. In L.Hayrapetian’s words, a competition
will be announced for implementation of the draft works.
It was also mentioned that another orphanage envisaged for invalid
children functions in Gyumri. 100 children below 6 year old are taken
care here at present.
Arka News Agency, Armenia
Jan 31 2007
PRESIDENT OF MICROSOFT BILL GATES TO SIGN CONTRACT ON COOPERATION
WITH ARMENIAN GOVERNMENT
YEREVAN. January 31. /ARKA/. The Armenian government and Microsoft
Corporation will sign a contract on cooperation. The press service of
the ministry of trade and economic development of Armenia reported
that Trade Minister Karen Chshmarityan and President of Microsoft
Bill Gates signed the contract in Edinburgh on Tuesday.
"Back during the Month of IT in Yerevan in September 2006, the
Armenian prime minister met with the European Microsoft regional
vice-president. They reached an agreement on beginning strategic
cooperation of the corporation with the Armenian government," the
press release says.
As a result of successive long and intensive bilateral negotiations
that ended in January 2007 a text of the agreement was formulated,
and a decision was made to sign the agreement in Edinburgh during the
Government Leaders Forum – Europe.
The Armenian delegation led by the minister of trade and economic
development went to Scotland to participate in the Forum on January
29 on the invitation of Microsoft. R.O. -0–
ARARATBANK INTENDS TO BECOME OPEN JOINT-STOCK COMPANY
Yerevan, January 31. ArmInfo. The Armenian commercial bank,
Araratbank, intends To increase its capital by 1 bln drams by an open
issue of shares, the Chairman of the Bank’s Governing Board, Ashot
Osipyan, told ArmInfo. The transformation of Araratbank into an open
joint-stock bank proceeds from the adopted strategic development
plan. "Within the frames of these plans, we seriously study the market
prospects and prepare a program of transfer to a public status", he
said. Along with it, Osipyan stressed, negotiations for selection of
an investment company, that will deal with distribution of the Bank’s
securities in an open market, are underway. "It is yet early to talk
about a specification, much depends on the market, on the situation in
the financial market, in the exchange market and on the degree of
successful functioning of the capital market in the country",
A. Osipyan said.
According to him, the own capital of the Bank in December, 2006, was
increased by 1.08 bln drams to 3,8 bln drams by the end of the
year. "Our plans for 2007 are very aggressive from viewpoint of both
the increase of assets and extension of the branch network, as well as
the cooperation with international organizations. The Bank implements
the international standards of risk-management, the new credit
products, it also works over special products for exporters",
A. Osipyan underlined.
To note, upon successful completion of the selection procedure, in
2007 the Ararartbank will participate in the credit program of the
German KfW state Bank for the hypothec market development. As a result
of activation of this direction, the Bank’s hypothec portfolio will be
increased from the present 300 mln drams to 1 bln drams. The Bank
extends the credit market segments. As priority spheres of crediting,
it has chosen the financing of such areas of economy as energy,
construction, the processing industry. The Bank develops the business
of charge cards with increase of the number of card-holders 10 times
to 10,000. In this sphere, the Bank will shortly advance a special
product to the market. "We aim at reaching an equilibration of the
credit portfolio as an important component of the risk-management
policy. All the economy branches of the country will be presented in
the credit portfolio for this purpose.
It is envisaged to increase the portfolio of business and consumer
credits in 2007 by nearly 4 times, the Bank’s assets will grow 1,8
times to 15,0 bln", A. Osipyan said, having also noted the Bank’s
activation in the consumer crediting market. "As a universal bank, we
shall also develop the retail products and the network of
branches. Ten branches in different towns of Armenia will join the
functioning branches in Yerevan and Stepanakert. We intend to open 2
new branches in Yerevan till the end of March. Further, a branch
network will appear in Abovyan, Vanadzor, Gyumri,
Armavir. Negotiations on acquisition of office buildings and premises
are underway", A. Osipyan said.
As he underlined, the Bank has been earlier working t the expense of
the own capital an had insufficient volume of attracted means: "The
Bank successfully manages this important task for the attraction of
new clients and extension of the deposit base. In view of this, we are
preparing interesting projects for depositors. In February, we shall
announce new kinds of deposits, deposit and card products".
The Bank has completed the pilot program for the creation of an
electron banking system, which arouse the interest and high assessment
of the clients.
More attention is paid to the attraction and preparation of a
professional staff via contests and trainings.
>From the viewpoint of growth of non-percent incomes, in 2006 the Bank
has started to serve the Treasury and the communal payments, it has
become a dealer of state bonds and it shortly envisages to become the
Government’s agent for the state internal debt control. The volumes of
transactions with state bonds have exceeded 4.5 bln drams within the
two last month, 2006. The Bank shows more activity in a work in the
currency market. "Our task in 2007 is to become a market-maker in the
internal currency market, assuring permanent direct and reverse
currency quotations", A. Osipyan said.
To remind, the Araratbank is an assignee of Armsvyazbank, having been
withdrawn from the regime of temporary administration of RA CB in
October, 2004.
The Bank has successfully passed the procedure of financial recovery,
the Bank’s shares were acquired by the "Flash" Company, the country’s
biggest oil-trader. In autumn, 2006, Ashot Osipyan, one of the
successful bank top-managers, has become the head of the Bank.