Author: Hambardsumian Paul

AREXIMBANK RENAMED INTO ‘AREXIMBANK-GASPROMBANK GROUP’

ArmInfo
2009-06-24 23:33:00

ArmInfo. According to the decision adopted by chairman of
Armenian Central Bank, on 12 June Areximbank has been renamed into
"Areximbank-Gasprombank group".

According to another decision adopted on 16 June, a new office
"Charents" of "Areximbank- Gasprombank Group" was registered.

To note, the necessity of Areximbank renaming rose because 100% its
shares were bought by the Russian "Gasprombank". As of 1 April 2009
Areximbank had 12 offices, 8 in the regions and 4 in Yerevan.

EGYPT, ARMENIA CONTRACTS FOR WORLEY PARSONS

World Nuclear News
_contracts_for_Worley_Parsons-2306094.html
June 23 2009

Australia-based engineering consultants Worley Parsons has now
announced contracts to oversee projects towards Egypt’s first nuclear
power plant and for a new power plant in Armenia.

In December 2008, Egypt’s Energy and Electricity Ministry announced
that following an international tender, it had decided to award a $180
million contract to Bechtel to choose the reactor technology, choose
the site for the plant, organise training and provide technical
services over some ten years. However, the government has now
transferred this contract to Worley Parsons.

The company said that it has signed a consultancy services contract
with the Egyptian Nuclear Power Plant Authority (NPPA) for the 1200
MWe plant. The initial phase of the contract will involve site and
technology selection studies, followed by work relating to the plant’s
design, construction management, commissioning and start-up. Worley
Parsons said that it expects the contract to be worth some $160
million over eight years.

In 2006, Egypt announced plans to build a 1000 MWe reactor for
electricity generation and water desalination at El-Dabaa on the
Mediterranean coast by 2015, in a $1.5-$2 billion project that would
be open to foreign participation.

Armenian contract

Worley Parsons also said that it has been awarded a contract by
Armenia’s Ministry of Energy and Natural Resources to provide
consulting services for a second nuclear power plant in the country.

The contract will be implemented in four phases. The first two phases –
including the development of a feasibility study for the project and
handling the tender process for strategic investors in the project –
are scheduled to begin later this year. Worley Parsons said that the
first two phases will take about one year to complete. It noted that
these two parts of the contract are worth $500,000.

The third and fourth phases of the contract will involve organizing
a tender and the recommendation of engineering, procurement and
construction (EPC) contractors, followed by consultancy services
to the ministry during the design, construction and start-up of the
project. These phases of the contract, Worley Parsons said, would be
worth over $430 million, but will only be authorized after selection
of and commitment by the strategic investors.

Armenia’s existing Metsamor nuclear power station originally hosted
two reactors. Both were closed down after a severe earthquake in 1988
triggered concerns about their seismic vulnerability. One unit is
now undergoing decommissioning, but the other restarted operations
in 1995 and is earmarked for closure around 2016. Armenia relies on
Metsamor for over 40% of its electricity and in November 2007 the
USA also signalled its support for nuclear new build in the country,
pledging a reported $2 million towards planning studies.

In June 2009, the Armenian government passed legislation providing
for construction of up to 1200 MWe of new nuclear capacity from
one or more reactors. Cost estimates were in the range of $4-$5
billion. Construction is slated to begin in 2011-12, with commissioning
by 2017.

Previous experience

Worley Parsons has been involved in the implementation of 18 nuclear
power reactors, totalling over 13,100 MWe, around the world.

Most recently it has acted as architect/engineer to Bulgaria’s
National Electricity Company (NEK) and the country’s Ministry of
Energy and Energy Resources for the completion of the Belene nuclear
power plant. The contract was initially signed in January 2005 and
is valid throughout the multi-year contracting, design, construction,
commissioning and start-up phases of the project.

The company has also provided services for the modernization of the
Kozloduy nuclear power plant in Bulgaria.

U.S. ASSISTANCE TO ARMENIA 2010

US State News
June 22, 2009 Monday 5:11 PM EST

YEREVAN, Armenia, May 14 — The U.S. Embassy issued the following
press release:

In response to news reports carried recently by several media outlets
regarding assistance from the United States for Armenia, I would like
to inform you of the following: Since international assistance to
Armenia began over twenty years ago with the relief effort following
the 1988 earthquake, the U.S. government has provided almost two
billion dollars of humanitarian aid and development assistance
for Armenia’s economic, social and governance sectors. The Obama
Administration’s request for Armenia for FY 2010 ($30 million) is
25 percent above the last Bush Administration budget request ($24
million was requested for FY 2009; Congress doubled this request to
$48 million). The actual level of assistance for Armenia for FY 2010
has not yet been determined by the U.S. Congress. With respect to
funding for Nagorno-Karabakh, there has never been a budget request
sent to Congress because there is no mechanism for doing so in the
budget process.

Rather, the humanitarian assistance provided to Nagorno-Karabakh
is worked out afterwards, during the budget negotiation between
Congress and the Administration. Regarding military assistance,
the Administration’s FMF request for Armenia in FY 2010 is
the same level as Armenia received in FY 2009. There has been
no decrease. The specific increase for Azerbaijan is linked to
U.S. priorities in peacekeeping and maritime security, particularly
regarding proliferation and drug trafficking on the Caspian Sea. The
respective levels requested for Armenia and Azerbaijan are carefully
considered and calibrated to ensure that they do not adversely
affect the military balance in the region or undermine efforts for
a peaceful settlement of the Nagorno-Karabakh conflict; they do,
however, provide appropriate assistance to each country that will
enhance their interoperability and military professionalism. The
United States remains committed to its longstanding partnership with
Armenia and the Armenian people. Helping the people of Armenia has
been, and continues to be, a high priority. Marie L. Yovanovitch
AmbassadorFor more information please contact: Sarabjit Jagirdar,
Email:- [email protected]

MOZILLA FIREFOX 3.0 BECAME THE MOST POPULAR WEB BROWSER

/PanARMENIAN.Net/
23.06.2009 21:09 GMT+04:00

/PanARMENIAN.Net/ Mozilla Firefox 3.0 became the most popular web
browser in Europe last week, overtaking Microsoft Internet Explorer
7.0 for the first time on a weekly basis according to web analytics
firm StatCounter. Firefox 3.0 took 35.05% of the European web browser
market followed by 34.54% for IE 7.0.

"The move is partly explained by a small switch from IE 7.0 usage
to IE 8.0 but also by growing market share overall by Firefox 3.0,"
commented Aodhan Cullen, CEO and founder StatCounter. "The data shows
that Firefox is closing the gap and is now just 10% behind all IE
versions in Europe."

UN SECRETARY-GENERAL CALLS ON IRANIAN AUTHORITIES TO STOP VIOLENCE

/PanARMENIAN.Net/
23.06.2009 11:01 GMT+04:00

/PanARMENIAN.Net/ UN Secretary-General Ban Ki-moon expressed dismay at
the violence and urged "an immediate stop to the arrests, threats and
use of force," UN spokeswoman Michele Montas said at UN headquarters
in New York.

"He calls on the authorities to respect fundamental civil and political
rights, especially the freedom of expression, freedom of assembly
and freedom of information," Montas said.

Supreme leader Ayatollah Ali Khamenei ordered opposition supporters
on Friday to halt their marches and respect the election outcome,
saying President Mahmoud Ahmadinejad had won a resounding victory.

Iran says at least 17 protesters have died in a week of unrest,
including at least 10 killed in confrontations the day after Khamenei’s
speech.

Opposition candidate Mir Hossein Mousavi, who has alleged widespread
and systematic fraud, issued his own challenge Sunday, telling
supporters: "The country belongs to you … Protesting against lies
and fraud is your right."

RUSSIAN CREDIT TO ARMENIA WITHOUT ADDITIONAL TERMS

ARKA
June 19, 2009

YEREVAN, June 19. /ARKA/. Russia has issued a credit to Armenia on
a commercial basis, without any additional terms, RA Prime Minister
Tigran Sargsyan told RIA Novosti.

On May 20, RF and RA Ministers of Finance, Alexey Kudrin and
Tigran Davtyan, signed an agreement on a 15-year US$500mln credit
to Armenia. The credit was to be issued at LIBOR plus 3% for the
Armenian economy to survive the crisis. The credit is a soft one,
its annual interest rate being 4%, and grace period four years.

On June 2, the RA Parliament ratified the Armenian-Russian
intergovernmental agreement. The Heritage faction voted against the
agreement, while the Dashnaktsutyun faction abstained from voting.

"The terms of the credit were discussed for a long time before we
found some common ground," Sargsyan said, commenting on the some
Armenian politicians’ discontent with the credit terms.

According to him, the Government has decided on the areas the funds
will be directed to. Sargsyan said that the credit will exclusively
be used under the Government’s anti-crisis program.

"Most of the funds will be directed to commercial projects, and we have
every reason not to be concerned over additional risks," Sargsyan said.

Earlier the RA Premier reported that 10.8bln AMD (US $56.2mln) would
be directed to the rehabilitation of the Spitak earthquake zone.

He also said that the Government plans to allocate a total of US
$30mln for small-to-medium business development. The funds will be
provided to the National Center for SMB Promotion.

Some of the funds will be provided to a mortgage company to be
established at the CBA. Sargsyan stressed that the measures are
supposed to temper the impact of the global crisis.

MARTIN SARGSYAN: VISIT OF SYRIAN PRESIDENT TO ARMENIA IS A GOOD OPPORTUNITY TO DISCUSS DEVELOPMENT PROSPECTS OF ECONOMIC RELATIONS

Noyan Tapan
June 18, 2009

YEREVAN, JUNE 18, NOYAN TAPAN. An Armenian-Syrian business forum with
the participation of more than 160 businessmen from both countries
was held on June 18. Chairman of Armenia’s Chamber of Commerce and
Industry Martin Sargsyan expressed a hope that the forum will provide
businessmen of the two countries with an opportunity to cooperate
and set up joint ventures.

In his words, unlike the political relations, the economic relations
between Armenian and Syria are not at a high level, and the Syrian
president’s visit to Armenia is a good opportunity to discuss the
prospects of their development. He said that a lot of work has been
done in recent years for the establishment of economic links, with
meetings and discussions being held more frequently. An exhibition of
Armenian products was organized in Aleppo in 2008. "At the exhibition,
those directions, over which we can negotiate and develop our trade
and economic links, were outlined. These are mainly agriculture
and IT sector," M. Sargsyan said, adding that in addition to that,
an agreement to open a permanent show-room for Armenian goods was
reached with Aleppo Chamber of Commerce and Industry, and it will
become a stimulus for export.

It was mentioned that although a notable growth in the trade turnover
between Armenia and Syria was recorded in recent years, its amount is
still small. The year-by-year fall in exports from Armenia to Syria
is especially alarming: in 2005 exports amounted to 470 thousand USD,
in 2006 – 240 thousand USD, in 2007 – 150 thousand USD, and in 2008
exports from Armenia to Syria amounted to 90 thousand USD.

AMNESTY SHOULD BE APPLIED NOT ALL PRISONERS

/PanARMENIAN.Net/
18.06.2009 19:21 GMT+04:00

/PanARMENIAN.Net/ "The position of the "Prosperous Armenia" party is
obvious in respect to amnesty in the country: we think, that humanistic
step will enable many people to return to their families," press
secretary of the "Prosperous Armenia" party Khachik Galstyan said.

According to Khachik Galstyan, the "Prosperous Armenia" party is
actively participating in discussion of amnesty-related issues. He also
expressed confidence, that amnesty should be applied not all prisoners.

OSCE PARLIAMENTARIANS MEET IN VILNIUS ON NEW SECURITY CHALLENGES

/PanARMENIAN.Net/
18.06.2009 00:30 GMT+04:00

/PanARMENIAN.Net/ OSCE Parliamentarians meet in Vilnius on new
security challenges. Strengthening and reforming the OSCE, promoting
human rights and civil liberties, energy and food security, climate
change, freedom of expression, and arms control are some of the issues
that will be considered at the OSCE Parliamentary Assembly’s 18th
Annual Session in Lithuania’s capital Vilnius 29 June to 3 July. As
PanARMENIAN.Net came to know from OSCE press office, meeting for
the first time in a Baltic country, over 250 Members of Parliaments
from 49 OSCE countries are expected to participate in the Session,
whose main theme is "The OSCE: Addressing New Security Challenges."

The call for strengthening and reforming the OSCE comes in a resolution
with OSCE PA President Joao Soares (Portugal) as principal sponsor. It
urges the OSCE participating States to recommit to a genuine and
transparent political dialogue, calls on the OSCE Permanent Council to
open up its meetings to the press and the public, and recommends that
the OSCE modifies its consensus rule. It also calls for independent
outside auditors to oversee disbursement and expenditure of all funds
within the OSCE.

The resolution is one of 22 to be debated, pending approval from
the Assembly’s Standing Committee. The others include how to promote
human rights and civil liberties in the OSCE area, energy security and
cooperation, labour migration, how to strengthen OSCE engagement on
freedom of opinion and expression, water management, climate change,
abolition of the death penalty, Afghanistan, and arms control.

In addition, two of the Assembly’s main Committees will consider
resolutions about the financial and social consequences of the world’s
financial crisis, presented by Ivor Callely (Ireland) and Natalia
Karpovich (Russia), respectively. The third Committee will consider
a resolution on food security, presented by Riccardo Migliori (Italy).

The Annual Session will adopt a final document, called the Vilnius
Declaration, which will include recommendations on all considered
issues.

HEADS OF ADMINISTRATIVE UNITS OF YEREVAN APPOINTED

AZG Armenian Daily
18/06/2009

Local

The Yerevan City Hall informs that according to Articles 52.1.7 and 89
of the Law on Local Self-Governance in Yerevan, heads of administrative
units of Yerevan have been appointed. The following appointments have
been made:

Ruben Hovsepyan – head of Adjapnyan administrative unit;
Manvel Javadyan – head of Avan administrative unit;
Hamlet Margaryan – head of Arabkir administrative unit;
Arthur Gevorgyan – head of Davitashen administrative unit;
Armen Harutyunyan – head of Erebuni administrative unit;
Gagik Gyanjumyan – head of Kentron administrative unit;
David Ohanyan – head of Malatsia-Sebastia administrative unit;
David Petrosyan – head of Nor Nork administrative unit;
Araik Kotanjyan – head of Kanaker-Zeytun administrative unit;
Varazdat Lazarian – head of Nork-Marash administrative unit;
Mher Hovhannisyan – head of Nubarashen administrative unit
Sargis Hovhannisyan – head of Shengavit administrative unit.

The seats of the heads of administrative units have also been
determined, according to the decision of the Mayor of Yerevan,
Armenian Public Radio reports.