Author: Karakhanian Suren

Mats Hummels has backed Henrikh Mkhitaryan to come good for Manchester United.

The Armenian ace has struggled since his £26million switch to Old Trafford from Borussia Dortmund in the summer.

Mkhitaryan has been restricted to just two Premier League starts for the Red Devils so far this season.

However, his former Dortmund teammate Hummels insists the 27-year-old will shine for Jose Mourinho’s men if he’s given the chance.

“If you let him play, you will see how good he is. I am 100 per cent sure of this. He is one of the best I have played with,” he told the

“But if you can’t play, you can’t shine. It’s easy! It’s really easy! I saw part of the game against Feyenoord.

“I saw part of the game against West Ham. There he was – always good, as he is always when he is on the pitch. He played at that level (raises his hands) all of last year.”

Fitch Ratings-Moscow-02 December 2016: Fitch Ratings has assigned Armenian City of Yerevan Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) of ‘B+’ and a Short-Term Foreign Currency IDR of ‘B’. The Outlooks on the Long-Term IDRs are Stable.

Yerevan’s ratings reflect a weak institutional framework for Armenian sub-nationals, as reflected by the sovereign rating (B+/Stable) constraint. The ratings also reflect Yerevan’s status as Armenia’s capital, satisfactory budgetary performance, supported by steady transfers from the central government, and a debt-free status.

KEY RATING DRIVERS

The rating action reflects the following key rating drivers and their relative weights:

High
In its base case scenario, Fitch expects the city to maintain satisfactory fiscal performance with an operating margin of 2%-3% in 2016-2018 (2011-2015: average 7.5%). The lower than historical margins will be driven by continued adjustment of the city’s operating revenue to negative shocks resulting from the protracted slowdown of Armenia’s economy in 2014-2015. We also expect Yerevan to run a slight surplus before debt variation of 1%-2% of total revenue in 2016-2018, after an average deficit of 1% in 2011-2015.

Fitch projects Yerevan city’s operating revenue will total AMD78bn in 2016, up 3% yoy. Yerevan receives current transfers from the central government, which averaged 74% of operating revenue in 2011-2015. Over the medium term, current transfers are likely to remain stable at about 75% of the city’s operating revenue, while locally collected taxes will contribute about 15% of operating revenue, in line with its average in 2011-2015.

Capital spending is likely to decrease slightly to about AMD7bn-AMD8bn in 2016-2017 (2015: AMD9bn) before rising to about AMD10bn in 2018. It will likely remain at below 10% of total expenditure, significantly below the average of 22% in 2011-2015, when the city made material infrastructure investment funded by state transfers and donor grants. Fitch expects the city will continue funding capital spending predominantly with asset sales and capital transfers from the central government.

Fitch views Armenia’s institutional framework for local and regional governments (LRGs) as a constraint on the city’s ratings. It has a shorter track record of stable development than many of its international peers. Weak institutions lead to lower predictability of Armenian LRGs’ budgetary policies, narrow their planning horizon and hampering long-term development plans. The main challenge facing Yerevan is the low predictability of medium- and long-term policies, which are subject to central government decisions.

The ratings also consider the following rating factors:

The city is free from any debt or guarantees, since forming a community in 2008. Statutory provisions of the national legal framework guiding debt or guarantees issuance restrict the city from incurring significant debt.

The city’s liquidity position weakened in 2015 to AMD175m, from AMD941m in 2014 as Yerevan used its cash to fund capital spending. However, its average monthly cash balance improved to AMD3.2bn at end-9M16 from AMD175m in 2015, underpinned by a steady inflow of revenue sources. Yerevan holds its cash in treasury accounts as deposits with commercial banks are prohibited under the legal framework. Fitch expects the city’s cash holdings to rise to AMD1.5bn-AMD3bn in 2016-2018, surpassing the five-year average of AMD1bn in 2011-2015.

Yerevan benefits from its capital status. It’s the country’s economic and financial centre and largest market with a developed services sector. Yerevan is the country’s largest metropolitan area, where 36% of Armenia’s population resides. However, the city’s wealth metrics are low in the international context; Fitch estimates Yerevan’s GRP per capita was AMD1.8m in 2015 (USD3,770). The city’s unemployment rate is high, averaging at 17.6% in 2011-2015, as measured by ILO-compliant assessment of the national statistics service.

The country’s economy grew 3% yoy in 2015, underpinned by strong net exports. Fitch expects Armenia’s economy to grow 3.5% in 2016 and 3.6% p.a. in 2017-2018. Armenia’s economy was negatively affected by severe external shocks in 2014-2015, following a collapse in commodity prices, which depressed the country’s major trade partners and reduced remittances inflows and exports.

 

 

 

Founder of the Prosperous Armenia Party (PAP) Gagik Tsarukyan will participate in the forthcoming political processes, head of the PAP faction Naira Zohrabyan told reporters today.

Gagik Tsarukyan will make a public statement in the near future to personally explain the format of that participation.

Zohrabyan noted that Gagik Tsarukyan is returning to politics at the request of his party members, but upon his personal decision. She also added that the Party will act on the opposition field.

Naira Zohrabyan said she has the impression that Gagik Tsarukyan’s return has caused panic on the political field, especially among the opposition.

“I can understand it, because Tsarukyan’s return has shuffled all political scenarios,” Zohrabyan said.

The European Union Delegation issues the following statement in agreement with the EU Members States´ Heads of Mission in Armenia

Following the important first steps in the implementation of the agreement on electoral reform between the coalition and the opposition parties, drawing on consultations with civil society representatives, we count on the government to spare no efforts in realising this reform. We appreciate the commitment of the authorities to allow a fair and open competition. We expect the Central Election Commission, the law enforcement bodies and the judiciary to do their best to fulfil this promise. We perceive the presence of political will as a key prerequisite for a fair electoral process.

In partnership with the UNDP and the United States, the European Union has responded positively to the government’s request for assistance in funding implementation of this electoral reform package. EU financial support of up to €7 million will close the identified financial gap and will thus allow for the smooth implementation of the electoral reform agreement. This includes support to election observation. Together with the contributions of Germany and the United Kingdom, European support amounts to 90 percent of the overall financial assistance to the electoral process.

The European Union attaches great importance to the transparency, integrity, inclusiveness and effectiveness of electoral processes. Therefore, we will continue to support the efforts of all stakeholders to ensure full alignment with international standards, including those related to the prohibition of the use of administrative resources and electoral corruption and to ensuring unhindered work by observers and media.

Ensuring free and fair future elections will be crucial for Armenian democracy and for the country’s relations with the European Union. We stand ready to continue to support Armenia on its democratic path based on the future EU-Armenia Agreement and within the larger framework of the Eastern Partnership.

Photo: Reuters

 

Japan has lifted the tsunami advisories issued after a 7.4 magnitude earthquake hit its eastern coast, the BBC reports.

The quake struck near Fukushima at about 06:00 local time (21:00 GMT Monday), triggering initial warnings of 3m (9.8ft) high waves. The waves which eventually hit the coast were much smaller.

Thousands were asked to evacuate the area and minor injuries were reported.

An earthquake and tsunami struck the area in 2011 killing 18,000 people.

That quake, one of the most powerful ever recorded, also caused a meltdown at the Fukushima nuclear power plant, where a massive clean-up operation is still going on.

Officials have said there is no sign of damage to the plant this time.

On the morning of November 9, a diverse group of government officials, politicians, civil society representatives, students, educators, and members of the press joined U.S. Ambassador to Armenia Richard Mills, Jr. for an Election Watch Party at the U.S. Embassy.  As the results of the U.S. presidential and congressional elections were broadcast live from the United States, both American staff and our Armenian guests experienced the excitement of the democratic process in action as polls closed and votes were tabulated across the U.S.

More than 800 invited guests had the opportunity to interact with American diplomats and discuss the elections as real-time results were reported by various U.S. TV channels.  In addition to the live coverage, the Embassy provided a range of informational materials about the U.S. elections and the U.S democratic process.

In his remarks to the assembled audience, Ambassador Richard M. Mills, Jr. emphasized that “today is a special day, one that comes along every four years, when the United States reaffirms and celebrates its democratic tradition, 240 years strong, of calling upon the people to elect their next president.  As passionate and intense as this year’s election campaign has been, Americans know that as a result of yesterday’s vote, executive power will be transferred peacefully on January 20, 2017 in accordance with the U.S. Constitution and rule of law.  As Secretary Kerry said just last week, ‘we’re now engaged in the 58th free and open presidential selection process for the 58th consecutive time.  Compared to a lot of places in the world, that’s pretty amazing’.”

President Obama, who is nearing the end of his second and last term, will step down when his successor is inaugurated on Friday, January 20, 2017.  Ambassador Mills reaffirmed to the gathered Armenian guests that the excellent partnership between the U.S. and Armenia, which are celebrating their 25^th anniversary of diplomatic relations this year, will stay strong regardless of who is elected the next president of the United States.
“The U.S. remains committed to our shared goal of an independent and prosperous Armenia at peace with its neighbors, and regardless of who the next president is, the U.S. government and the U.S. Embassy will remain steadfast partners and friends to Armenia, as we work together to ensure the democratic and prosperous future that the Armenian people deserve.

How to resolve media-related disputes without referring to the courts was the focus of a working seminar organized by the OSCE Office in Yerevan on 5 November 2016 for journalists and media lawyers in Tsaghkadzor, Armenia.

Around 25 participants, including journalists, lawyers involved in freedom of expression litigation, civil society members and representatives of the police took part in the event. Participants discussed the work of the Information Disputes Council (IDC), an extra-judiciary body that provides expert opinions on resolving media-related disputes. They examined a broad range of issues including cases of violence against journalists and the protection of journalists’ rights when covering civic unrest, defamation and insult, personal data protection and free expression, presumption of innocence, as well as pre-trial publicity and the media’s coverage of court trials.

“Extra-judicial dispute resolution mechanisms for media should be strengthened,” said David Gullette, Democratization Programme Officer at the OSCE Office in Yerevan. “They promote media quality and ethics, they can help minimize expensive and time-consuming court litigation and help maintain constructive dialogue between journalists, lawyers and other parties involved, over important aspects of journalistic work particularly on sensitive issues.”

Established in 2011, the mandate of the IDC is to protect freedom of speech and improve access to information, as well as to protect human dignity and the right to a private life by publishing expert opinions and recommendations based on Armenia’s constitution, international legal acts and ethical norms, in cases when judicial disputes occur. The IDC also identifies cases for intervention through its own initiative and advocates for improvements in the issues concerned. Where applicable it also issues joint decisions together with the Media Ethics Observatory, the media self-regulation body in Armenia.

The OSCE Office in Yerevan has been supporting the IDC’s work since its inception to help achieve better protection of free speech in Armenia in line with OSCE commitments in this field.

On 14 October His Holiness Karekin II, Supreme Patriarch and Catholicos of All Armenians; sent condolence letters to the families of the victims who died in the Moscow-Yerevan bus crash. The bus was travelling on the Beslan-Vladikavkaz route when the crash occurred in the early morning hours, Press Service of the Mother See of Holy Etchmiadzin informs.

“We deeply regret the occurrence of the crash and pray for our children who are victims of the accident. During this difficult time, we ask for the comfort of the Holy Spirit and offer our support to the families and friends of the victims. We also pray for a speedy recovery of the injured”, the letters stated.

His Holiness instructed the Armenian Diocese of Southern Russia to provide necessary spiritual care and support to the accident victims and their families.

Photo:Getty Images

Twenty two people have been confirmed dead after a group of residential buildings collapsed in eastern China, the BBC reports.

The incident on Monday saw four buildings in Wenzhou in Zhejiang province reduced to rubble, reported the Xinhua news agency.

The buildings were reportedly built by villagers in the 1970s and were in a poor condition.

Most victims were migrant workers who had been renting cheap rooms.

“They lost their lives to take advantage of cheap rent. It is horrible,” Guo Lin, a witness told news outlet China News Service.

Six people have been pulled out of the rubble alive.

On September 28, political consultations between the Foreign Ministries of Armenia and Georgia were held at the MFA of Georgia. The Armenian and Georgian delegations were headed by Shavarsh Kocharyan, Deputy Foreign Minister of Armenia, and Gigi Gigiadze, Deputy Foreign Minister of Georgia, respectively.

In the course of political consultations the sides discussed a wide spector of issues related to the current situation of bilateral political, trade and economic relations and perspectives of their development. The agenda of the consultations focused on the deepening of cooperation in the areas of transport, energy, culture and education. Moreover, the necessity of inventory of the existing legal field was emphasized.

The interlocutors also touched upon the intensification of cooperation within the framework of international organizations, as well as exchanged views on a wide range of international and regional issues.