Author: Kanayan Tamar

INTERNATIONAL EXPERT: CRISIS TO HARDLY CAUSE SERIOUS SHOCKS TO ARMENIAN BANKING SYSTEM

ARKA
Dec 17, 2008

YEREVAN, December 17. /ARKA/. Armenian banking system is to hardly
undergo serious shocks as a result of the crisis, even in the case
of an economic slump, international expert on corporate management
issues Douglas Muir said.

The banking system of Armenia is in a comparatively good condition
with quite a good level of liquidity and regulation as compared to
other small economies, the expert said at the roundtable discussion
on corporate management in Armenian banks Tuesday.

According to Muir, Armenia has been getting out of the first stage
of the global crisis good enough so far.

Official information shows that Armenian economy go on developing,
but cold winds blowing from the East and the West will undoubtedly
have impact on the Armenian banking system, the expert said.

Currently there are 22 commercial banks in Armenia with 367 branches
throughout the country.

As of the end of September 2008, total assets of Armenian banking
system were 954.1bln Drams, total capital 214.9bln Drams and
liabilities 739.2bln Drams.

Economy crediting reached 617.5bln Drams against 434.5bln Drams in
the beginning of 2008, including consumer credits – 172.5bln Drams
and mortgage loans – 81bln Drams. ($1=308.55Drams).

IS AN "ARMENIAN" NEW YEAR MANDATORY?

A1+
[06:13 pm] 16 December, 2008

Prices go down during the holidays in almost all countries, except
Armenia. Prices in the market are going up day after day.

Citizens will not see a drop in prices for clothes, at least that’s
what we saw during our tour of the stores.

"We are not going to have discounts because demand is low. We might
set a 5-50% discount at the end of January on old items," said store
clerks at one of the stores we visited.

The store clerks at one of the home appliance stores informed that
although they are not paying too much attention to the global economic
crisis, they haven’t decided whether there will be discounts or not.

We conducted a survey among citizens of Armenia on whether they were
planning on celebrating the New Year with the same "Armenian" splendor.

"To be honest, I am not that interested in what’s going on in the
world. Why should the crisis impact us? Prices always go up before the
holidays in Armenia. I have already bought the pig for the table and I
will start buying the rest little by little," told "A1+" citizen Armen
Harutyunyan. We always see inflation in Armenia before the holidays.

"I don’t think that the crisis will hit Armenia because our country
is small and we don’t cut, so-called "deals" abroad," says programmer
Anush Minasyan.

Meanwhile, engineer Sargis Chepelyan is sure that people will feel
the effects of the crisis for a couple of more years.

Housewife Gayane Arakelyan is not planning on paying a lot of money for
food and presents. "I have decided to buy small amounts of necessary
items," said Arakelyan.

Surveys showed that the least amount of money that citizens will
spend is 80,000 drams.

ARMEN HARUTYUNYAN: "THE CASE OF SEVEN RESEMBLES LITMUS PAPER"

A1+
[02:19 pm] 12 December, 2008

"The prosecution lacks convincing evidence. So far I haven’t heard
strong case-based reasoning. Courts always defend the interests of
prosecution," Armenian Ombudsman Armen Harutyunyan said today with
regard to the trial of the so-called case of seven due on December 19.

Mr. Harutyunyan has heard both the prosecutor and the defender but
mostly he believes in the defense. "The advocates have submitted
weighty and convincing evidence," he said.

"As Russians say the trial of the case is a litmus paper and may
become an ordeal for the country’s future prosperity.

The Ombudsman thinks the case of seven can be an indicator of strategic
development of the society because both prosecution and defense have
been focusing efforts in this direction. Therefore, the Ombudsman’s
Office will constantly monitor the trial, use its scarce resource to
the full, follow attentively the arguments of the two sides and the
judge’s behaviour. The office will come up with a final assessment,
possibly with a report, at the end of the court proceedings.

Armen Harutyunyan thinks it will guarantee a professional and unbiased
approach of their office, avoiding an early opinion.

In the given situation the Ombudsman sees pardon and amnesty as the
best way out, although he is for amnesty since it does not require the
detainee’s pardon or repentance. "It is a demonstration of goodwill
towards the case. During our visits to prisons and my talks with the
detainees I was convinced that they shouldn’t made repentant as they
don’t plead guilty of any crime. The court is already hearing the case,
and let the prosecutors unveil the reality and prove their crime. Man
is not bound to prove his innocence."

Armen Harutyunyan couldn’t say for sure how one can get acquainted
with the 40-volume case within nine days. Anyway, he didn’t want to
underestimate anyone. "Maybe there are talented people who can get
acquainted with the material within nine days which I can do only in
90 days," said Mr. Harutyunyan.

The Ombudsman urges mass media and civil society institutes to follow
up the trials on March 1 events without major scandals and shows as
they delude and distract from real arguments hindering professional
observation.

The monitoring held by the Human Rights Defender showed that the
court trials mostly turn into shows with the participation of judges
and journalists.

"We still have much to do to be called a legal country as opposition
journalists and businessmen still encounter obstacles in our country,"
Armen Harutyunyan said regarding the state of human rights in Armenia.

MONUMENT TO WILLIAM SAROYAN OPENED IN YEREVAN
Hasmik Dilanyan

"Radiolur"
13.12.2008 13:53

2008 has been declared Saroyan’s Year. The series of events held during
the year culminated in the opening of William Saroyan’s Monument at
the crossroads of the Mashtots Avenue and Moskovian Street in presence
of the President of Armenia, Serzh Sargsyan.

The sculptor of the monument is David Yerevantsi, who was personally
acquainted with William Saroyan. The bronze statue pictures 54-year-old
Saroyan. According to the Minister of Culture, Hasmik Poghosyan,
the place was not chosen accidentally.

"Saroyan’s monument stands next to a number of renowned figures
– Martiros Saryan, Aram Khachatryan, Komitas, Sayat-Nova, Yervand
Kochar and Alexander Tamanyan. No one appeared here accidentally. None
of them lived in this world in vain, as Saroyan would say. In this
regard, having Saroyan’s statute here is extremely important. With his
kindness he will open the day of every citizen of Yerevan. Saroyan’s
look will be important for every person who will pass by the monument,"
Hasmik Poghosyan said.

FINES OF 500 THOUSAND DRAMS IMPOSED ON SOUTH CAUCASUS RAILWAYS AND GEGHARD MEAT PRODUCT ENTERPRISE COMPANIES

Noyan Tapan

Dec 10, 2008

YEREVAN, DECEMBER 10, NOYAN TAPAN. At the December 10 sitting, the RA
State Commission for Protection of Economic Competition made a decision
to impose a fine of 500 thousand drams (about 1,628.6 USD) on South
Caucasus Railways company. It was mentioned that the Commission had
initiated proceedings and the company had been required to present
some information.

The company presented information to the Commission. However,
that information did not include any data on the cost price of
transportation of a unit of cargo, the price of transportation of a
ton of cargo, the profit and profitability. In addition to imposing a
fine, the Commission decided during the sitting that the requirement
to present information remains in force.

By another decision of the Commission, a fine of 500 thousand drams
was imposed on Geghard Meat Product Enterprise for not presenting
the required information at the stated time and for presenting
untrustworthy data.

In July 2008, the Commission initiated administrative proceedings
against Geghard Meat Product Enterprise for raising the prices of
several foodstuffs. The company was required to submit the documents
necessary for the proceedings and other information to the Commission
within 10 days.

However, the enterprise did not present any reasons and substantiation
for the changes in each component of the price, as well as any
documents substantiating these changes within the indicated period. At
the request of the company, the period of proceedings was twice
extended for 10 days.

During this period the company provided some general explanations,
not presenting any substantiating documents, thus not providing the
necessary information. Besides, the data submitted by the company at
two stages contradicted each other: they contained different amounts
of the same expenditure and the profit received at the same period
of time, as well as changed data on raw materials used.

In the opinion of the Commission, the company presented incomplete
information, while the presented data were contradictory and did not
reflect the amounts of expenses representing an element of the cost
price, therefore, the company presented untrustworthy information to
the Commission.

Armenian Apostolic Church of St. Gregory the Illuminator Singapore
60 Hill Street
Singapore 179366
Tel: +65-6334-0141
Email: [email protected]
http://www.armeniansinas ia.org/

Dear Fellow Armenians and Friends –

I am pleased to announce that we have launched a new web site
highlighting the Armenian communities in Singapore and throughout
Asia. As you may know, Armenians have a rich modern history of
engagement with Asia that dates back to as early as the 1400s. You may
visit the site at:

The site serves to unearth our past, share the present and catalyse
the future of our communities in Asia. With your support, we can raise
the awareness of our rich heritage. Please distribute the link within
your own communities!

With thanks and kind regards,
Pierre Hennes
Volunteer

ARMENIAN SCIENTISTS TO SEND OPEN LETTER TO A. GUL

Panorama.am
17:51 09/12/2008

A group of Armenian scientists, actors, artists, representatives of
NGO-s and mass media have sent an open letter to the President of
Turkey Abdullah Gul.

It is particularly mentioned in the letter: "Honorable Mister
President, in the aftermaths of recent events, the current conditions
in South Caucasus, the attempt of the President of Armenia to invite
you to Armenia and your visit have proven that Armenia-Turkey improved
relations demand more brave and legal solutions. First of all, we
are looking forward to the solution of Armenian Genocide. We should
acknowledge that this problem has separated two nations since 1915. It
has become a source of unique dispute among Armenians and Turkish,
hence dictates our steps irrespective of modern policies. Mister
President, in this case we have to deal with the evil deed against
human kind which is untimely. Not only Armenians spread all over demand
that, but also international society is looking forward to that."

It is also mentioned that the Ottoman Empire is guilty towards
Armenians for the biggest crime against human beings – genocide
and that today’s Turkey is responsible for the activities of their
ancestors.

The letter is signed by writer Perch Zeytuntsyan, actor Sos Sargsyan,
President of Writers’ Union Levon Ananyan, President of artists’
union Karen Aghamyan, editor of "Aravot" daily Aram Abrahamyan, the
head of "Haylur" program of Public TV Harutyun Harutyunyan and others.

DOORS OF ARMENIAN CHURCH SURB NORASHEN IN TBILISI OPENED BEFORE ARMENIAN PRIME MINISTER

ArmInfo
2008-12-10 09:31:00

ArmInfo. On December 9, representatives of the Armenian community
in Tbilisi opened the doors of the Surb Norashen Church before the
Armenian prime minister and Armenian delegation, afterwards the
Lord’s Prayer was read. As ArmInfo special correspondent reported,
one had to literally break the doors to enter the church.

Head of the Georgian Diocese of the Armenian Apostolic Church (AAC),
Bishop Vazgen Mirzakhanyan expressed confidence that thanks to joint
efforts the given church will return to the fold of the AAC Georgian
Diocese. In May 2008 representatives of the Georgian Orthodox Church
erected a metallic fence with Georgian church attributes around the
Surb Norashen Church, which was built in the 15th century and in the
30s of the 20th century closed and turned into a book depositary. In
1994 attempts were made to turn the St.Norashen Church into a Georgian
church, however, this didn’t happen thanks to big efforts.

"Today candles were put in this church for the first time over the
last 70 years. Our people have waited for this minute for a long time,
and the doors were opened by the grace of God",- Bishop Mirzakhanyan
said. He expressed confidence that the Armenian prime minister’s visit
will play a serious role in the settlement of the problem. "We hope
that our brothers, the Georgian people, the government of Georgia and
the Georgian Orthodox Church, will be able to solve this problem for
the sake of our friendship," Mirzakhanyan said.

Presently, Surb Norashen Church is in a deplorable state. For many
years it has been closed. Its interior is seriously damaged. "We hope
that some day the church will be restored," Mirzakhanyan said.

To note, Tbilisi is home to 100,000 Armenians, it has 5 Armenian
churches but only 2 are active.

To remind, the Prime Minister of Armenia and the Armenian delegation
comprising Minister of Finance Tigran Davtyan, Minister of Economy
Nerses Yeritsyan, Minister of Energy Armen Movsissyan, Minister of
Diaspora Hranush Hakobyan, Deputy Minister of Culture Gagik Gyurjyan
and Deputy Minister of Agriculture Levon Rukhkyan took part in the
7th meeting of the Armenian-Georgian inter-governmental commission on
economic cooperation and visited the cemetery of outstanding Armenian
writers and public figures.

Sargsyan met with President of Georgia Mikhail Saakashvili.

KIRO MANOYAN: KARABAKH SHOULD BE A FULL PARTY TO THE TALKS

armradio.am
09.12.2008 17:30

If Turkey wishes to increase its influence and role in the region,
it should improve the relations with Armenia, Head of the Armenian
Revolutionary Federation (ARF) Bureau’s Hay Dat and Political Affairs
Office Kiro Manoyan told a press conference today. According to him,
the dialogue between the two countries that started after the visit of
the Turkish President to Armenia was suspended because Turkey continued
insisting on its preconditions for opening of the Armenian-Turkish
border. Besides, Turks continue questioning the fact of the Armenian
Genocide.

Turning to the activity of the Armenian lobbyist organizations, Kiro
Manoyan noted that thanks to them the Armenian Genocide is already
a fact accepted by the international community. According to him,
today the task of the Armenian diplomats is not to allow the term
"genocide" be replaced by another world in world media. Kiro Manoyan
added that the end to the lobbyist activity will be the recognition
of the fact of genocide by Turkey.

Clarifying the position of ARF Dashnaktsutyun on the Nagorno Karabakh
issue, Kiro Manoyan noted that "any concession should be reciprocal
and simultaneous" and the status of Karabakh should be determined
from the very beginning. Besides, the issues of return of Armenian
lands beyond NKR borders and the return of Armenian refuge es should
be raised. "At last, Karabakh should be a full party to the talks,"
Kiro Manoyan concluded.

ARMENIA, GEORGIA CONTINUE TALKS ON NEW MOTORWAY CONSTRUCTION

PanARMENIAN.Net
09.12.2008 19:04 GMT+04:00

/PanARMENIAN.Net/ Armenia and Georgia continue talks with international
financial institutions on construction of a new motorway to connect
the two countries, Armenia’s Prime Minister Tigran Sargsyan said after
a meeting of the Armenian-Georgian intergovernmental commission on
economic cooperation.

"We welcome the project that will connect Ajaria and Samtskhe Javakheti
with Armenia. Serious activity will be launched to that end in the
near future," he said, Georgian media reports.