Author: Karagyozian Lena

Karabakh polls not to be recognized by world community – Azeri speaker
Trend news agency
14 Jun 05
Baku, 14 June: The parliamentary elections in the “Nagornyy Karabakh
republic”, which are due on 19 June, will not be recognized by any
international organization, Trend has quoted Parliament Speaker Murtuz
Alasgarov as saying at a session of the Milli Maclis today.
Separatists asked several international organizations to send their
observers to the “parliamentary elections”, but were refused.
“Their appeal to the Council of Europe to send representatives to
Xankandi [Stepanakert] also remained unanswered because the Council
of Europe does not recognize such a ‘republic’ and is not going
to send its representatives there. This resolute position by such
an authoritative international organization is very important for
Azerbaijan,” Alasgarov said.

Ak Party Deputy Comez Says Turkey Ready To Debate Armenian Claims
Turkish Press
June 13 2005
YEREVAN (AA) – Justice and Development Party (AK Party) deputy Turhan
Comez told Armenian deputies and officials on Saturday that Turkey
was ready to debate genocide claims both in historical and in legal
platforms.
Responding to questions of some Armenian deputies about Armenian
claims of ‘genocide,’ Comez explained them the historical realities
and noted that the Armenian claims were baseless.
Reminding of the UN Genocide Convention, Comez said that genocide
meant committing mass massacre with the intention of killing all
members of an ethnic or religious group. Many Muslim Turks were
killed during the uprising of Armenian gangs, said Comez, adding
that the Ottomans adopted the Deportation Law in order to protect
the integrity of the country.
“Citizens (of Armenian origin) living in Izmir and Istanbul were
not asked to migrate. Therefore the decision (of deportation) can’t
be considered within the UN Genocide Convention of 1948. Maximum
security measures were also taken to guarantee the safe deportation
of Armenians showing that Ottomans didn’t have the intention to kill
them,” Comez told Armenian politicians.
“Turkey is right in its point of view historically and legally against
those claims,” he said.
Comez added that the two sides shouldn’t get stuck on the past,
but look for common interests for the future.

BRIEFING – ASIA ENERGY – JUNE 13, 2005
Asia Pulse; Jun 13, 2005
An executive briefing on energy for June 13, 2005, prepared by Asia
Pulse (), the real-time, Asia-based wire with
exclusive news, commercial intelligence and business opportunities.
DONGFENG TIES UP WITH BP IN CHINA’S LUBE MARKET
WUHAN – British Petroleum and Dongfeng Motor Corporation have set up
a joint venture — Dongfeng Castrol Petroleum Co., Ltd. in Wuhan in a
bid to secure a beachhead to fight for a niche on China’s lubricant
market.
BP Group, one of the world’s largest energy companies, is engaged in
petroleum and gasoline prospecting and production, natural gas,
power-generating, renewable energy, oil refining, marketing and
petrochemical manufacture. It has operations in 105 countries, with a
total market value of more than US$200 billion.
NUMEROUS COAL-FIRED POWER PLANTS TO BE BUILT IN PAKISTAN
KARACHI – Sindh Minister for Mines and Mineral Development Irfanullah
Khan Marwat chaired a meeting of the Sindh Coal Authority late last
week, which reviewed progress on work on different coal-fired power
plants.
The board announced that an American firm, AES Oasis Ltd, had started
work on the establishment of an integrated coal-fired 1,000 megawatt
power plant at the Thar coalfield, which would be completed by the
end of the this year.
STANDARD CHARTERED BANK, SHELL PAKISTAN SIGN STRATEGIC DEAL
KARACHI – Standard Chartered Bank and Shell Pakistan Limited have
signed an agreement for a fully automated dealer finance programme
based on an electronic dealer finance card system.
Operating on a debit card based structure, the dealer finance card
solution is a fully automated service that enables Shell to enjoy
instant conversion of receivables and Shell’s dealers to enjoy the
full benefits of automated payment initiation, payments outsourcing,
simplified account reconciliation, comprehensive MIS and robust
security.
SINOPEC, CNPC TO INVEST BILLIONS IN NEW ETHYLENE PROJECTS
BEIJING – With several large ethylene projects to start construction
or be subject to approval, the investment committed by China
Petroleum and Chemical Co., Ltd. (Sinopec) and China National
Petroleum Corporation (CNPC) to ethylene projects will exceed 60
billion yuan ($US7.24 billion) in the next few years.
After the Maoming Petroleum and Chemical Co., Ltd. initiated the
one-million-ton ethylene expansion project, the Zhenhai Refining and
Chemical Co. and Tianjin Petrochemical Co., both affiliated to
Sinopec, are making preparation for launching ethylene projects of
the same scale.
SOUTHEAST ASIA’S BIGGEST THERMO POWER PLANT TO BE BUILT IN VIETNAM
HANOI – A coal-fuelled power plant, which will be the biggest in
Southeast Asia, is expected to be built in the Vietnam’s central
province of Phu Yen .
The plant is designed to have four turbine groups with a combined
capacity of 2,400 MW, generating 15.6 million MWh annually.
IRANIAN FIRMS TO HELP BUILD DAM, POWER PLANT IN TAJIKISTAN
TEHRAN – Iran and Tajikistan here Saturday signed an agreement to
build a dam and power plant on the Vakhsh river in Nurek, which
located in the west of Tajikistan.
The 19-article agreement was signed by Iran’s Energy Minister
Habibollah Bitaraf and his Tajik counterpart Jurabeck Nurmahmadov.
INDIAN MINISTER FACES TOUGH TASK IN IRAN ON LNG DEAL
TEHRAN – India’s Petroleum Minister Mani Shankar Aiyar will have a
lot on his plate to discuss when he visits Iran this week to finalise
purchase of liquefied natural gas (LNG) and discuss the ambitious
Iran-Pakistan-India gas pipeline.
While India is keen on purchasing 2.5 million tonnes of additional
LNG at a concessional rate, Iran is understood to be demanding a
price which is higher than what New Delhi has already agreed to pay
for 5 mt of LNG per annum it will source from Tehran.
INVESTMENT FLOWING INTO IRAN’S PETROCHEMICAL SECTOR: MINISTER
AHVAZ – Oil Minister Bijan Namdar Zanganeh said some US$18 billion
has been invested in the country’s petrochemical industry during the
past eight years.
Addressing official ceremony to inaugurate five major petrochemical
projects in Bandar Imam Special Economic Petrochemical Zone, near
Mahshahr in this southwestern province, Zanganeh said out of the
total amount, some US$2.5 billion are returned annually.
IRAN, ARMENIA SIGN MOU ON ELECTRICITY COOPERATION
TEHRAN – Iran and Armenia signed a memorandum of understanding (MoU)
here to bolster bilateral cooperation in the field of electricity.
The MoU was signed by Iran’s Energy Minister Habibollah Bitaraf and
his Armenian counterpart Armen Movsisyan.
PETROCHINA ACQUIRES OVERSEAS ASSETS FROM CNPC
BEIJING – PetroChina Company Limited announced Friday that it will
acquire overseas assets from its parent, China National Petroleum
Corporation (CNPC), China’s largest oil producer, for 20.74125
billion yuan (US$2.5 billion).
It is a bid for PetroChina to boost its reserves portfolio, promote
overseas business development and enhance corporate value in a long
run, said Chen Geng, Chairman of PetroChina.
INDIAN, CHINESE OIL COMPANIES SEEKING ROSNEFT SHARES: RUSSIA
MOSCOW – Oil companies from India and China are seeking stake in
Russia’s state-owned oil major Rosneft but no concrete deals have
been struck so far, Russian Energy Minister Victor Khristenko said.
“Many companies, first of all, Indian and Chinese, are showing
interest in the purchase of Rosneft shares,” he said.
S.KOREAN COURT RESUMES PUBLIC AUCTION FOR INCHEON OIL
SEOUL – A local court has resumed the public auction for Incheon Oil
Refinery Co. following its January failure to sell off the firm,
court officials said Monday.
Incheon Oil is currently under court receivership.
OMAN, CHINA SIGN MOU IN PETROLEUM SECTOR
MUSCAT – A Memorandum of Understanding (MoU) on boosting
Omani-Chinese cooperation in petroleum sector was signed between the
Sultanate and China at Al-Bustan Palace Hotel yesterday.
The MoU was signed by Ahmed bin Salim al-Wahaibi, Executive President
of Oman Oil Company from the Omani side and by Chen Geng, President
of China’s National Petroleum Corporation from Chinese side in the
presence of Dr. M
OMAN AND CHINA SIGN OIL AGREEMENT
MUSCAT – Oman and China signed at Al-Bustan Palace hotel yesterday an
oil agreement to provide the latter with Omani Oil.
The pact was signed by Dr. Mohammed bin Hamad al-Rumhi, Oil and Gas
Minister and the deputy general manager of the Chinese company for
chemical industries.
NSW COAL SECTOR ISSUES WARNING ON ALTERNATIVE FUELS
SYDNEY – Ruling out coal in favour of gas or nuclear power would cost
more and harm the environment, the NSW coal industry has warned.
Environmental groups have called for a ban on the development of
coal-fired electricity plants after NSW Premier Bob Carr indicated he
was gearing up to approve at least one new plant west of Sydney.
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Turkish Press
June 10 2005
Press Review
MILLIYET
BELGIAN SENATE REJECTS `GENOCIDE’ MEASURE
The Belgian Senate’s Justice Commission yesterday turned back a
proposal to criminalize denying claims of an Armenian genocide. The
bill was returned to the Federal Assembly. Belgian senators said that
it wasn’t Belgium’s job to judge historical contorversies and
stressed that the positive steps taken by Ankara concerning the issue
couldn’t be ignored. /Milliyet/

Pan Armenian News
CONSTITUTIONAL REFORM IN ARMENIA TO BE CONSIDERED ON VENICE COMMISSION
SESSION
10.06.2005 04:23
/PanARMENIAN.Net/ The Council of Europe Commission for Democracy through Law
(“Venice Commission”), which this year marks its 15-th anniversary, will
hold its 63-rd plenary session in Venice on 10 and 11 June. On the session
agenda are the examination of a number of important legal texts from
different countries, and the adoption of several opinions. The Commission
will, for example, adopt its second interim opinion on constitutional reform
in Armenia, and discuss the amendments to the law on the procedure for
conducting rallies and demonstrations in this member country. An exchange of
views is foreseen with Tigran Torosian, Vice-President of the National
Assembly of Armenia. Joint opinions of the Venice Commission and the
OSCE/ODIHR on the revised draft amendments to the electoral codes of Armenia
and Azerbaijan will also be adopted. To remind, the Venice Commission
expressed discontent with the draft constitutional amendments adopted in the
NA first reading. It should be also noted that the decision on conducting
extra discussions of the constitutional reform process during the next PACE
plenary session scheduled for June 20-24 was taken by the PACE Bureau on
June 6.

Pan Armenian News
ARMENIAN-JAPANESE INTERPARLIAMENTARY TIES NEED TO BE PROMOTED
08.06.2005 08:51
/PanARMENIAN.Net/ Armenian Prime Minister Andranik Margaryan met with
Chairman of the lower chamber of the Japanese Parliament Chikage Ogi,
reported the Press Service of the Government of Armenia. In the course of
the meeting he noted that Armenia is interested in intensification of
cooperation with Japan and emphasized that all necessary components are
available to that end. Simultaneously the parties said they were concerned
over the Armenian-Japanese Working Parliamentary Groups formed a few years
ago being not efficient. The parties said they hoped that the current visit
of the Armenian delegation will facilitate establishing interparliamentary
relations. The interlocutors are confident that Armenia and Japan will
cooperation within international organizations in the future as well.
Touching upon the question of further cooperation of Armenia and Japan, the
parties noted the information technologies, chemical industry, food
processing, tourism and seismology were important spheres. Tomorrow the
Armenian PM is scheduled to meet with Vice President of the Japanese
International Cooperation Agency Azoushi Hatakenaka, to visit Panasonic
center, as well as to give an interview to Japan Broadcasting Corporation.

Billionaire Kerkorian boosts GM stake to 7.2 percent
Agence France Presse
June 8, 2005
NEW YORK (AFP) — Billionaire Kirk Kerkorian boosted his stake in
General Motors to 7.2 percent following last month’s surprise share
offer for the struggling auto giant, his holding company announced.
Kerkorian’s Tracinda Corp. said the offer, which expired at midnight
Tuesday, resulted in the purchase of an estimated 18.9 million GM shares.
As a result, the 87-year-old Kerkorian, a casino magnate who has bought
and sold MGM studios and was once Chrysler Corp.’s largest shareholder,
has nearly doubled his holding in GM from 3.89 percent.
Kerkorian stunned financial markets May 4 with his offer of 31 dollars a
share for GM, at the time 13 percent above the market price.
Tracinda indicated at the time that the move was “solely for investment
purposes.”
Analysts said that the move appeared to be a vote of confidence in the
world’s biggest automaker, which has been in turmoil over eroding market
share in the United States and growing financial uncertainties, but that
it may also signal some effort to influence GM’s board or management.
GM shares rallied 4.2 percent to close Wednesday at 32.02.
The lack of sellers handing over their shares to Kerkorian shows that
despite its flaws, investors still have faith in the auto giant,
according to Michael Metz, chief investment strategist at Oppenheimer
and Co.
“If (the tender offer) had been oversubscribed, I think the stock would
have gone lower,” Metz said.
“There wasn’t an excessive supply coming out at that price, so
technically that’s a good sign. I also think the Street is taking the
restructuring news favorably.”
On Tuesday, GM said it would cut at least 25,000 jobs, or 13.8 percent
of its US workforce, by 2008 to generate 2.5 billion dollars in annual
savings. The company also announced plans to close additional assembly
and component plants to help get GM North America back to profitability.
JP Morgan analyst Himanshu Patel said that the offer effectively places
a floor for the stock.
“Kerkorian’s tender offer provides some downside support as it should
remove some/many of the sellers of the stock below 31 dollars a share,”
he wrote in a note reiterating his overweight rating.
But of the 16 Wall Street analysts covering the stock, only four
maintain a buy rating, according to Thomson First Call.
Bernard Klawans, fund manager for the Valley Forge Fund, remained
unconvinced about GM’s prospects.
“Kerkorian is just another investor,” he said. “General Motors is in
trouble. I don’t see their management doing anything but waving flags.
Yesterday’s news isn’t anything to get excited about; it’s actually very
discouraging.”
“While it is encouraging that GM management is contemplating a lower
cost structure for the North American business, we do not believe that
much new information was revealed and GM’s commitments so far fall short
of what’s required,” said Rod Lache at Deutsche Bank.
“We expect GM North America to lose 3.2 billion dollars this year on a
pre-tax basis. Given the magnitude of the anticipated losses (and GM’s
current stock price), we believe the Street expects GM to make an
aggressive and credible restructuring announcement by year-end.”
;cid=1503&ncid=1503&e=2&u=/afp/20050608/ts_afp/usautogmstocks_050608215331

“MODERN OFFICE AND BANK” INTERNATIONAL EXHIBITION TO BE HELD IN
ARMENIA JUNE 10-12
YEREVAN, June 8. /ARKA/. “Modern Office and Bank” international
exhibition will be held in Armenia June 10-12. According to the Centre
of the Exhibition Projects “EXPOMEDIA”, the event is topical not only
for local entrepreneurs, but also for investors form CIS and other
countries, who get the opportunity to acquaint themselves with this
area and carry out market analysis. The objective of the exhibition is
to strengthen commercially beneficial relations between trade-industrial
enterprises and banking infrastructure, as well as formation of efficient
business atmosphere for the exchange of business-information,
knowledge and practical experience. The exhibition will provide
maximum information on companies, new projects and proposals to the
visitors.
The exhibition is organized by the Centre of the Exhibition Projects
“EXPOMEDIA” with the assistance of RA Ministry of Finance and Economy,
Central Bank of Armenia, RA and Yerevan Commerce and Industry Chamber,
National Centre for SME Development and Union of Banks of
Armenia. L.V.-0–

Pan Armenian News
AZERBAIJAN DID NOT TAKE PART IN BSTDB MEETING IN ARMENIA
06.06.2005 10:05
/PanARMENIAN.Net/ Azerbaijan did not take part in the recurrent meeting of
the Black Sea Trade and Development Bank in Armenia, Armenian Minister of
Economy and Finance Vardan Khachatryan stated at a press conference today.
In his words, in spite of all security guarantees being provided to the
Azerbaijani representative, the country refused to take part in the sitting.
In his turn President of the Bank Mustafa Gurtin noted that Azerbaijan is a
sovereign state and it should make decisions on participating or not in a
meeting on its own. As noted by the President, in 2006 the Bank sitting is
planned to be held in Baku. Thereupon V. Khachatryan noted that he will
represent Armenia at the meeting – of course if the Azeri party provides a
visa. It should be noted that in 2007 the Bank meeting will be held in
Moldova. The candidacy of the Azerbaijan as a chairing county in 2006 was
proposed earlier by the Bank Council and was approved the by Board of
Directors. Both the Minister and the Bank President appreciated the work
done by the meeting participants. In their words, in the course of the
sitting the Bank budget for 2005 was approved. As noted by M. Gurtin a field
for active implementation of diverse programs in Armenia was formed lately.
Thus, Armenia is the second from the end on participation in the bank –
0.38%. The top places are occupied by Russia, Turkey and Greece. In the
BSTDB President’s words, any programs may be approved by the Bank,
especially if they are of regional nature, which will promote development of
the region. In the Minister’s words, the Armenian branch of the Bank has had
a profit of $400 thousand. As M. Gurtin informed, a memorandum on
cooperation with the EU, as well as Valeta and Oval agreements totaling $500
thousand are scheduled to be signed. In V. Khachatryan’s words, the Bank
special session will discuss the matter of allocating financial means of $23
million to implement Russal program.

PARTICIPANTS IN INTERNATIONAL CONFERENCE IN STEPANAKERT
SEND REQUEST TO UNESCO SECRETARY GENERAL
STEPANAKERT, JUNE 6. ARMINFO. The participants in the international
scientific conference held in Stepanakert, NKR, on the occasion of
the 1,600 anniversary of the creation of Armenian alphabet and the
foundation of the first school in Karabakh have sent a request to
UNESCO Secretary General.
The conferees are asking UNESCO to take under protection Amarasa
educational complex in Karabakh founded as early as 405 AD with a
view to create a regional scientific-education center there. This
will promote not only education but also peace and stability in the
region. An international conference “Education in 21st Century” can
be held for this purpose with UNESCO representatives attending the
event.