Author: Hambardsumian Paul

ARMENIAN COMMERCIAL BANK "ARMECONOMBANK" FIRST AWARDED WITH WESTERN UNION DIPLOMA

ARKA
Nov 9, 2007

YEREVAN, November 9. /ARKA/. For the first time in Armenia the
commercial bank "Armeconombank" was awarded with diploma if an
international system of money transfers Western Union. The Bank’s
press service told ARKA that the diploma is given for long and
productive cooperation with the Western Union system, as well as
for significant contribution to the development and expansion of its
networks in Armenia.

Armeconombank started cooperating with Western Union in 19999 as
a subagent.

In 2003 the Bank received the status of the official representative
of Western Union in Armenia.

The status of Western Union agent authorized Armeconombank to appoint
subagents of the system.

At present the Bank has seven subagents operating in this system,
6 of them are banks and 1 – accounting and payment organization.

The Western Union system started cooperating with Armenian banks on
test conditions in 1995. Officially the system has been functioning
in Armenia since 1996. At present, 15 commercial banks of Armenia
are members of the Western Union money transfer system.

"Armeconombank" was registered on August 26, 1991. Over 75% of its
shares belong to main shareholders – the EBRD (25% + 1 share) and
"SIL" concern founders – the Sukiasyans (50.6%).

As of September 30, 2007, "Armeconombank’s" assets totaled over AMD
64bln, the total capital – AMD 8bln, balance sheet profit on the
capital’s account – AMD 5.2bln, the profit of January-September –
AMD 1.4bln and credit portfolio – AMD 25.3bln. ($1 – AMD 323.31).

RUSSIA LEARNS FROM ARMENIA DETAILS IN EDUCATION

Panorama.am
22:18 08/11/2007

Today in the press conference Victor Boltov, the chief of education
and science supervision federation service, said that Armenia and
Russia are good colleagues in the educational and science sphere. Mr.

Boltov mentioned that Russia has things to learn from us: in the
Armenian language testing system there exists 0.5 point for the
wrong answers. Mr. Boltov said that he will offer this method to his
colleagues, as he thinks that this is a better way to conduct the
tests. Besides he mentioned that professional specialists work in
the Armenian testing and evaluating centre.

Victor Boltov said, "It is possible that in the nearest future Armenian
and Russian specialists will have opportunity to exchange their ideas
and experience." Mr. Boltov mentioned that the meetings are first of
all recommended by Bologna declaration: to try to decrease the risks
of corruption, which is the most difficult part in education.

Victor Boltov announced that he had a discussion with Levon
Lazarian, the Minister of Education and Science, to organize regional
examinations, but there exist lots of problems, as for the evaluating
methods.

ARMENIA’S UNION OF GREENS: IF TEGHUT MINE DEVELOPED "DEAD ZONE" TO OCCUR AROUND

ARKA
Nov 7, 2007

YEREVAN, November 7. /ARKA/. If Teghut copper-molybdenum deposit
is developed, all the adjacent territory will turn to a "dead zone",
Chairman of Armenia’s Union of Greens Hakob Sanasarian told journalists
Tuesday.

Sanasarian pointed out that the development of the mine will
practically kill the environment, particularly will completely destroy
the natural systems of water formation and water supply.

"Particularly, Shokh River will suffer irreplaceable ecological
damage as a result of emissions from the tailing dump of poisonous
substances saturated with heavy metals fatal for human health,"
Sanasarian said adding that it may cause outbreaks of many genetic
diseases and stillbirth.

According to Sanasarian, the operation of mine will also cause
damage to 700 hectares of forest; it will be impossible to restore
the forest, with plants incorporated in the Red Book, during 25 years
of the operation of Teghut deposit.

Sanasarian stressed the damage to be caused to flora and fauna by the
huge production complex to be constructed in the territory. "Some
populations may disappear not only in the region, but also in the
adjacent area," he said.

Earlier, a member of Armenia’s Union of Greens, member of "Orinats
Erkir" opposition parliament group, member of the parliament commission
for social issues, healthcare and nature protection Gurgen Sargsian
said that organizing closed development of Teghut deposit will allow
reducing the environmental damage in Armenia by 18 times. He proposed,
instead of development of new deposits, to modernize the existing
mining enterprises for more complete processing of ore and also
utilizing it for high technology production.

In February 2001, "ACP" (Armenian Copper Program) Closed Joint Stock
Company received a license for development of the deposit for 25 years.

Investments of ACP in the project are to total $200-250mln, with
about $50mln having been already invested.

According to preliminary estimates, the production output of Teghut
deposit in the first operational year is to total 12,000 tons of
copper concentrate.

The ore reserve of the deposit is about 400-450mln tons.

"ACP" Closed Joint Stock Company, a member of Vallex Group, was
founded in August 1997 on the basis of Alaverdy mining factory. The
shareholders of the enterprise are Vallex F.M. Establishment
(Lichtenstein) (80.74%) and the General Director of Armenian Copper
Program Valery Mejlumian (19.26%).

WE CONGRATULATE

Azat Artsakh Tert, Nagorno Karabakh Rep.
Nov 2 2007

On November 1st,2007 the first number of "Azat Artsakh " newspaper
was published by the leadership of the publisher of "Chto delat"
author newspaper Murad Petrosian. The new editor-in-chief has beguan
it with bringing to light at the head of the republic the way by which
the newspaper "Azat Artsakh" should go. And it has met approval. It’s
the first time, that I’ve read the newspaper from the beginning to
end. I’m heartedly glad, dear Murad. Always be the same!

Thank you. Artak Ghoulian(chief of the department of agriculture of
Artsakh State University).

RELATIONS BETWEEN TURKEY, ARMENIA HURT BY YEREVAN’S TERRITORIAL CLAIMS

Russia & CIS Diplomatic Panorama
October 30, 2007 Tuesday 6:12 PM MSK

Turkey is ready to establish diplomatic relations with Armenia
only after the country removes from its constitution the provisions
containing territorial claims on several Turkish eastern territories,
Turkish Ambassador to Russia Kurtulush Taskent said.

"To establish normal diplomatic relations, such as those existing
with other countries, Armenia must remove from its declaration of
independence, from its constitution, those provisions that call for
the annexation of other countries’ territories," Taskent told a press
conference in Moscow.

Turkey was the first country to recognize Armenia’s independence.

However, the fundamental law of this country contains statements "that
are territorial claims on Turkey’s eastern areas," and in addition,
Armenia has now "occupied about 20% of Azerbaijan’s territory,"
he said.

Regarding the problem of "frozen conflicts" in the former Soviet Union,
including in Georgia and Azerbaijan, such conflicts must be resolved
through established democratic procedures based on the principle of
territorial integrity.

PRESS RELEASE
The Armenia Fund
Governmental Buiding 3, Yerevan, RA
Contact: Hasmik Grigoryan
Tel: +(3741) 56 01 06 ext. 105
Fax: +(3741) 52 15 05
E-mail: [email protected]
Web:

November 1, 2007

The Armenia Fund Constructs Yerevan Children’s Sport School

Yerevan, 1 November, 2007 – The Armenia Fund Executive Director Vahe
Aghabegians accompanied with the Deputy Director Ararat Klghatyan and other
staff members took part in the opening ceremony of the Yerevan Children’s
Sport School on October 31, 2007. The newly constructed building was opened
by the President of Armenia Mr. Robert Kocharian and Minister of Sport and
Youth Affairs Mr. Armen Grigoryan.

"We recognize The Armenia Fund’s great contribution in the advancement of
national sport culture." The President said.

The sports school was constructed by the Armenia Fund. The two-storied
building has a ground floor, three shooting galleries, a gymnasium, sauna
and administrative rooms. 60 sportsmen can practice in the school
simultaneously – 150 sportsmen altogether during a day. The school is open
to all those who wish to train their shooting skills.

"We are grateful to The Armenia Fund for this gift," Director of the school
Hrach Petikyan noted. "The sports school is equipped with high-tech
facilities and is one of a kind in the whole South Caucasus; we have 59
firing ranges instead of 8 in the past. This will add to the number of those
interested in this sport and enhance the overall quality. We also highly
appreciate that the opening of the school will create jobs and contribute to
the infrastructure improvement in the area." Mr. Petiktyan mentioned that
they already have an agreement with the district municipality for
implementing a tree planting project around the school in mid November.

"We all should use our free time for more creative and satisfying leisure –
be it swimming, skiing or shooting. Creation of jobs and infrastructure
development is an important part of this accomplishment for us. " The
Armenia Fund Executive Director Vahe Aghabegians pointed out.

###

The Armenia Fund

INTERFAITH LEADERS WELCOME ARMENIAN PONTIFF TO METRO DETROIT
Greg Krupa / The Detroit News

Detroit News, MI
D=/20071031/UPDATE/710310458/1361
Oct 31 2007

SOUTHFIELD — His Holiness Karekin II the pontiff of the Armenian
Orthodox Church was welcomed to Detroit today by about 25 interfaith
leaders at a banquet at St. John Church.

"On behalf of 1.4 million Catholic clergy and faithful of the
Archdiocese of Detroit, I offer you a fraternal welcome," said Adam
Cardinal Maida. "It is an opportunity to reflect on our spiritual
heritage.

Maida called attention to the massacre of Armenians at the beginning
of the last century. "In particular, for this tragic genocide, we
stand with you in your efforts to never forget," Maida said. "This
is a common stand against violence and atrocities committed in the
name of ethnicity and religion."

The Rev. Garabed Kochakian, pastor of St. John Armenian Church
in Southfield, said he and his parishioners had noted that in the
pontiff’s months-long visit to the United States that he had called
special attention to interfaith work.

"We have noted how significant the passion and spirit of ecumenism
is and how important interfaith work is to your Holiness," Kochakian
said. "We ask you in fellowship to continue to embrace us with your
conversation and your presence."

RA PRESIDENT DOES NOT SHARE OPTIMISM OF OSCE MG COCHAIRMEN

arminfo
2007-10-31 13:48:00

ArmInfo. RA President Robert Kocharyan does not share the optimism
of OSCE MG cochairmen on Karabakh conflict settlement, RA president
told journalists today.

"Though I must admit that there is a definite progress in the
negotiation process, however, I am not such an optimist to assume that
specific results may be achieved before the presidential election",
Robert Kocharyan said. He also said that the process goes on if it
contains both positive and negative moments. "Looking at the project
under discussion, it seems that some way has been passed. However, the
Azerbaijani militaristic statements and approaches create an impression
that these two processes are not related to each other. Therefore,
the grounds for optimism are not great today. There are threats and
they should be taken into account in our policy", R. Kocharyan said.

CHAIRMAN OF "HOMELAND AND HONOR" PARTY DOES NOT EXCLUDE POSSIBILITY OF HOLDING PRE-TERM PRESIDENTIAL ELECTIONS

Noyan Tapan
Oct 30 2007

YEREVAN, OCTOBER 30, NOYAN TAPAN. The October 26 rally of the
opposition, in which Levon Ter-Petrosian, the first President of the
Republic of Armenia took part, had a great influence on the change
of political atmosphere in the country. This statement was made by
Garnik Margarian, the Chairman of the "Homeland and Honor" party in
his interview with a Noyan Tapan correspondent . "The rally served
as a spur to the sudden change in the moods of people, who had not
seen light at the end of the tunnel for ten years," declared Garnik
Margarian.

In the words of G. Markarian, a further change in the political
atmosphere, which is quite possible in case the opposition, which
has united around Levon Ter-Petrosian, takes competent actions,
will inevitably bring forth new political processes. "A pre-term
shift of power and, correspondingly, pre-term presidential elections
may become the result of the right steps of the first President,"
the Chairman of the "Homeland and Honor" party declared.

CASE ON EXCHANGE OF FIRE IN GYUMRI TO BE SENT TO COURT SOON

Noyan Tapan
Oct 29 2007

YEREVAN, OCTOBER 29, NOYAN TAPAN. The examination of the case
on exchange of fire, which happened on May 20 in Gyumri, will be
completed soon and the case will be sent to the court. RA Prosecutor
General Aghvan Hovsepian said this in his interview to Noyan Tapan
correspondent. He said that all participants of the crime have been
arrested, all arms and cars used during the crime have been revealed
and confiscated. The crime has been compeletely disclosed. And in
connection with the case of attack on Gymuri Mayor Vardan Ghukasian,
which happened on April 20, the RA Prosecutor General said: "We
have nothing to say, the examination on the case is going on, the
versions have not been checked completely yet, the investigation
group is working."