Author: Mamian George

SARATOV REGIONAL COURT ANNOUNCED VERDICT ON ARMENIAN MURDER CASE

/PanARMENIAN.Net/
29.06.2009 20:26 GMT+04:00

/PanARMENIAN.Net/ Saratov regional court has announced its verdict
for the three police officers accused of murder of Armenian citizen
Armen Gasparyan.

With a majority of votes, the jury found the three accused
guilty. However, they said that two criminals – Churikov and Ogurtsov
are recommended for mercy and should be given a milder sentence.

The penalty will be determined by the judge in the near future.

EDWARD NALBANDIAN AND JAMES STEINBERG DISCUSSED ARMENIA-US COLLABORATION

/PanARMENIAN.Net/
29.06.2009 13:43 GMT+04:00

/PanARMENIAN.Net/ RA Foreign Minister Edward Nalbandian met US Deputy
Secretary of State, James Steinberg, within OSCE Foreign Ministers
summit frameworks in Greek island of Corfu.

Philip Gordon, Assistant Secretary of State for Europe and Eurasian
Affairs participated in the meeting. The parties focused on Armenia-US
relations, development and expanding of international collaboration
as well as international and regional issues.

Edward Nalbandian also met his Canadian colleague Lawrence
Cannon. Foreign Ministers discussed bilateral collaboration and
legislative field expanding. The parties touched upon collaboration
possibilities within international organizations’ framework, RA MFA
Press Service reported.

YEREVAN PREPARING FOR ARMENIAN-AZERBAIJAN PEACE FORUM

/PanARMENIAN.Net/
26.06.2009 17:43 GMT+04:00

/PanARMENIAN.Net/ Yerevan has today hosted a discussion devoted to
the preparation of regular Armenian-Azerbaijani peace forum. "Such
events aim at eliminating enemy image between Armenia and Azerbaijan,"
International Alert European Projects Director Dessislava Roussanova
said, noting that the principal goal of the conference was to build a
"bridge of trust" between two countries.

"It’s very important for us what international community
representatives think about it and what ways they propose for
overcoming the situation," International Alert’s Director said.

Such conferences, according to her, have already been held in Baku
and are scheduled to take place in Karabakh in two days. They are
aimed at conducting preparatory work for the joint forum due on June
21-24 in Moscow.

Forums envisage consultations with societies of all conflicting
parties, with the purpose of revealing population and intellectuals’
opinion on issues that may be discussed.

KING OF POP MICHAEL JACKSON DIES AT THE AGE OF 50

armradio.am
26.06.2009 11:13

Jackson was pronounced dead at 2:26 p.m. after arriving at a Los
Angeles hospital in full cardiac arrest.

Jackson was taken ill at home and his personal physician tried to
resuscitate him but could not, his brother Jermaine told reporters. He
was taken by paramedics to the hospital, where doctors worked for
more than an hour to try to revive him before pronouncing him dead,
the brother said.

Late Thursday, his body was flown by helicopter from the hospital to
the coroner’s office.

The self-styled "King of Pop," leaves behind a mountain of debt
and an unfulfilled series of comeback concerts set for London in
July. Many hoped the shows would rake in millions and erase his
financial troubles.

Jackson’s dramatic, one-gloved stage presence and innovative dance
moves were imitated by legions of fans around the world who mourned
his death.

His lifetime record sales tally was believed to be around 750
million. With his 13 Grammy Awards and boundary-breaking music videos
he was one of the most successful entertainers of all time.

TERRY DAVIS: THE PAGE OF MARCH 1 HAS NOT BEEN YET TURNED OVER

ArmInfo
2009-06-24 11:02:00

ArmInfo. As Terry Davis said at his last press-conference in
capacity of the Secretary General of the Council of Europe, despite
the announcement of amnesty in Armenia and release of the detained
persons, the page of March 1 has not been yet turned over.

As Radio Liberty, he said, in particular, that there are still many
important issues concerning the March, 2008, happenings. T. Davis
said he is concerned over the impunity. According to him, they say one
policeman was killed, however, many other people, being not policemen,
were killed, and they were killed a year ago. CE secretary general
emphasized that this is a murder.

He thinks it is terrible that the Armenian police could not
find the persons responsible for these murders, to start legal
proceedings. According to T. Davis, he is concerned over detention
of the people, however, he is mostly concerned over the loss of life.

KPMG ARMENIA DEVELOPS GLOBAL METHODOLOGY FOR OVERCOMING DIFFICULTIES IN CONVERSION TO IFRS

ARKA
June 23, 2009

KPMG Armenia has developed a global methodology which presents a
structured approach to the conversion which is designed to assist
clients to convert to IFRS in the shortest possible time and without
incurring additional expenses, the audit company reported on Tuesday.

The company has worked out the methodology to help businesses meet
IFRS conversion challenges.

"Harmonization of financial reporting of Armenian listed companies
with those around the world will help to raise confidence of
international investors who seek to obtain comprehensive, transparent
and understandable information for their decision-making purposes. For
non-listed medium to large scale companies, having financial statements
prepared under IFRS means being better prepared to "go public"
via an Initial Public Offering ("IPO") should companies have the
need for more capital or if existing shareholders wish to divest",
the press release says.

The transition brings certain benefits to Armenia. Adopting IFRS will
result in reduced costs for those financial organizations and listed
companies which were required to report both under IFRS and ASRA by
eliminating the double reporting requirement. The greater confidence
in reliable and transparent information will also translate into
a20lower cost of capital, primarily in reduced interest costs.

"Many leading Armenian companies have already converted or are in
the process of conversion to IFRS.

Companies who have started the transition process, have already
gained a number of benefits, the most important of which is that IFRS
reporting really enhances the effectiveness of the company’s management
and decision making process since IFRS principles provide better
decision-making aids to management because they are more oriented to
a realistic reflection of economic efficiency, the press release said.

"On the other hand, the new Law brings a number of challenges for
Armenian companies in the process of transition to IFRS.

IFRS adoption means undergoing major changes as Armenian companies
predominantly align their accounting and reporting practices to comply
solely with the Armenian tax legislation requirements which usually
give rise to significant differences in the accounting treatments
with those under IFRS", the release says.

To help businesses meet IFRS conversion challenges, KPMG has developed
a global methodology which presents a structured approach to the
conversion.

KPMG was the first large international audit and consulting company
to open its office in and get a license for providing audit services
to banks and enterprises.

In 1995, the company started conducting up-to-international-standards
financial audit in Armenia.

MOODY’S CONFIRMED COMSTAR BA3 CORPORATE FAMILY RATINGS

/PanARMENIAN.Net/
22.06.2009 17:51 GMT+04:00

/PanARMENIAN.Net/ COMSTAR – United TeleSystems JSC, the largest
integrated telecommunications provider in Moscow and 69 Russian cities,
today announced that Moody’s Investors Service has confirmed its Ba3
corporate family ratings with a stable outlook for Comstar and its
55.73% owned subsidiary, Moscow City Telephone Network (MGTS).

"Moody’s ratings with a stable outlook once again prove that, even
in the current challenging economic environment, Comstar manages to
maintain its strong market position and demonstrate solid financial
results. The ratings attest that we have been following the right
strategy and have a stable platform for continued growth," said Sergey
Pridantsev, President and Chief Executive Officer of Comstar UTS.

Comstar is the major shareholder of K-Telecom, Armenia’s cellular
operator, and Cornet internet provider.

Syrian Arab News Agency, Syria
June 20 2009

Syrian president held talks in Armenia on Turkey, Azeri relations

Damascus, 20 June: (SANA) _Presidential Political and Media Adviser
Buthaynah Sha’ban has described President Bashar al-Asad and wife
visit to Armenia as successful and unveiled the deep-rooted joint ties
between the two countries.

In a statement to Tishrin newspaper published Saturday [20 June],
Sha’ban stressed that the visit focused on two main axes: the first
one is the bilateral relations and necessity of developing them in the
economic, trade, tourist and cultural fields. "The second one is the
role Syria could play in cooperation with Armenia in solving some of
the pending issues between Armenia and Turkey and on efforts exerted
to realize peace in the Middle East and the Caucasus", she added.

The presidential adviser unveiled that Syrian-Turkish communications
will be held soon for the rapprochement of views and improving the
Turkish-Armenian relations in the interest of both countries and
Syria.

She pointed out that President al-Asad was keen on getting acquainted
with the standing situation between Armenia and Azerbaijan during his
visit to Armenia and before his forthcoming visit to Azerbaijan for
crystallizing possible solutions to improve the Armenian-Azeri
relations.

She underlined that the Armenian side welcomed and appreciated
President al-Asad’s keenness and asserted Syria’s import ant role in
consolidating good relations among the neighbouring countries to
create positive climate for opening distinguished prospects for
regional cooperation.

She said: " President al-Asad’s meeting with Armenian President Serzh
Sargsyan and senior Armenian officials dealt with all common regional
and international issues, where His Excellency encouraged exchanging
mutual visits, particularly between the members of the two Parliaments
and businessmen of the two countries.

Answering a question on the economic outcome of the visit, Shaaban
said the strategic vision of President al-Asad in creating a regional
space which constitutes an efficient economic power, was welcomed by
all official and public sides, quoting President al-Asad as saying
that "removing the political obstacles serves the economic and trade
relations", so he focused on establishment of land transportation net
between the Middle East and Gulf region on one hand and the Caucasus
and Central Asia on the other hand which means linking the four The
Black, Caspian, Mediterranean Seas and Arabian Gulf.

ARMENIAN PRIME MINISTER RECEIVES GOVERNOR OF RUSSIAN PROVINCE OF KALININGRAD GEORGI BOSS

ARMENPRESS
June 19, 2009

YEREVAN, JUNE 19, ARMENPRESS: Armenian Prime Minister Tigran Sargsyan
received today governor of Russian province of Kaliningrad Georgi Boss.

Governmental public relations department told Armenpress that the
head of Armenian government, welcoming the guests, talked about the
new possibilities of the development of Armenian-Russian relations,
where the economic relations with the regions of Russian Federation
are of great importance.

Governor Georgi Boss presented the main directions of the development
of province economy, reforms taking place in the banking system,
measures towards promotion of investments and noted that the interest
towards Armenia is also conditioned by the fact that Kaliningrad
province attaches great importance to the development of relations
especially with the countries which are near to Russia historically
and spiritually.

During the conversation an exchange of ideas about the cooperation
in the spheres of agricultural goods, constructional and industrial
products, trade, jewelry, tourism took place.

Speaking about the development of relations and the possibilities of
implementing joint projects, the interlocutors attached importance to
the efforts towards strengthening business ties, and the business-forum
conducted in Yerevan "Moscow House", as well as the exhibition of the
products of the industrial enterprises of Kaliningrad certainly will
promote these efforts. Both sides expressed wish to organize such a
meeting between businessmen in Kaliningrad as well.

DRAFT LAW ON CAPITAL WILL BE DEVELOPED

NKR Government Information and Public Relations Department
June 17, 2009

By the instruction of the Republic’s President and the Prime
Minister’s decree, with the aim of developing the NKR draft law "On
Local Self Governing in Stepanakert City", on June 16, the recently
founded working group convoked its first sitting. Issues connected
with development of the draft law on the capital, were discussed,
opinions and proposals were heard.

According to the working group manager, the NKR Minister of Justice
N.Narimanyan’s words the NKR law "On Local Self Governing" currently
in force does not completely correspond to real state that stipulates
the necessity of a draft law development. "It is both the demand
of the Constitution: according to Article 104 of the principle law
territorial governing peculiarities in Stepanakert City are defined by
the law", N.Narimanyan noted. In the result of the expanded discussion
Gegham Khachatryan, Chief of Territorial Administration Division of
Territorial Administration and Local Self Governing Department adjunct
to the NKR Government Staff, was charged with a task to submit the
preliminary variant of the draft law "On Local Self Governing in
Stepanakert" to the discussion of the working group in a month’s term.