Adequacy Of Armenian Banking Service At High Level, Premier Says

ADEQUACY OF ARMENIAN BANKING SERVICE AT HIGH LEVEL, PREMIER SAYS

ARKA
Oct 20, 2008

YEREVAN, October 20. /ARKA/. Adequacy of Armenia’s banking system
is at a high level, RA Prime Minister Tigran Sargsyan said lat week,
summing up Armeian delegation’s October 9-15 visit to Washington.

"The proof is the ratio between the banks’ total capital worth 218bln
drams and assets amounting to 985bln drams," the premier added.

Sargsyan believes financial property owners can withstand any financial
risks with the help of their own capital and if something goes wrong
in the sector, they are the first to run risks.

"We do not have to worry about local financial system thanks to
high-level capitalization of Armenia’s banking system," the premier
said.

Touching upon deposits, loan investments and shares, Sargsyan
underlined this year’s sustainable financial growth.

"Both the loan investments and resource base are showing a tendency
of growth," he added.

Armenia’s Government made a decision on September 19 to increase this
year’s budget expenditures and receipts by 13.3bln drams (around
$44mln) with the help of tax proceeds. Cutting the budget deficit,
the country will be able to guarantee macroeconomic stability and we
do not have to worry about that," the prime minister said.

Twenty-two commercial banks are currently operating in Armenia. The
country’s bank assets ro se 23.53% to 966.7bln drams between Q1
and Q3. Liabilities of local commercial banks increased by 23.01%
to 749.4bln drams. The banks’ capital totaled 217.3bln drams (25.39%
growth) and the authorized capital stock amounted to 134.5bln drams
as of September 30.

Loan investments rose 45.53% to 608.3bln drams between January and
September. Liabilities to customers increased by 20.13% to 525.8bln
drams.

Net profit of local banks reached 19.9bln drams in September, showing
a 15.81% year-on-year growth.

San Fernando Valley is no longer Reagan Country

Contra Costa Times, CA

San Fernando Valley is no longer Reagan Country
By Tony Castro, Staff Writer

Article Launched: 10/18/2008 12:00:00 AM PDT

It is a shift that has turned what once was Reagan Country into
Democratic territory in recent presidential campaigns, with this
year’s landmark Nov. 4 election expected to be no different.

"The San Fernando Valley was historically conservative, and it was
Reagan Country when Reagan was governor and later president," said
Allan Hoffenblum, a Los Angeles-based Republican consultant and
strategist. "Outsiders still think of it that way. But it’s no longer
true. It’s an area that still has a lot of active Republicans, but
they’re by far the minority.

"The Valley today is Latino. It’s Jewish. It is almost the Westside of
L.A."

Once ethnically isolated from Los Angeles – from which it sought to
secede just six years ago – the Valley today is far removed from the
Valley of the 1980s, when it was known as "America’s Suburb," the home
of shopping malls, car dealerships, Valley Girls and Republican
conservatism. Now, it has become a reflection of L.A.’s diversity.

The locals in the sun-reddened hills above Chatsworth have long called
a hillside rock formation "The 12 Apostles," but in the 1980s a few
jokingly rechristened it "Ronnie and his Kitchen Cabinet."

"It’s Reagan Country," said Shep Woods, who grooms horses at one of
the stables off Lake Manor Drive, which snakes through the hillside
and becomes Box Canyon Road overlooking the Ronald Reagan Freeway on
the way to Simi Valley. "Or used to be."

In the generation since Reagan was president, the political landscape
of the San Fernando Valley has undergone a dramatic shift shaped by
demographic, racial, ethnic, religious, cultural and socioeconomic
changes that have altered the reality, if not the perception, of the
area. Population now diverse

In 1950, non-Latino whites accounted for at least 90percent of the
Valley’s population, and in 1980, that figure was still 74percent.

Today, the Valley is 42percent Latino, 10percent Asian and almost
5percent African-American. And 25percent of the Valley falls under the
Census Bureau data description that includes Armenians, Iranians and
other Middle Eastern ethnic groups. More than 40percent of the
Valley’s residents are foreign-born.

"Individually, as groups, the numbers are significant," said Daniel
Blake, professor of economics and director of the San Fernando Valley
Economic Research Center at California State University, Northridge.
"As a whole, the numbers are staggering."

Those statistics do not begin to include the role that religion and
lifestyle play in the Valley. The Jewish population is significant,
estimated by some analysts at 15-20percent. Muslims account for an
estimated 5percent.

Homayoon Hooshiarnejad, publisher of Asre Emrooz, a Valley-based daily
Farsi-language newspaper, goes so far as to liken the Valley to the
Middle East, where historically rival religions, cultures and people
have forged a confluence of identities that no one individually
controls.

"It is hard to say what the cultural influence of Iranians, some of
them Jewish and some of them Muslim, has been on the traditional San
Fernando Valley, but it is important," he said. "By sheer presence
there is influence. The culture, heritage, values."

So, too, has been the quiet impact of alternative lifestyles, most
noticeably by gays and lesbians, whose presence has come to the
forefront this year. The first gay couple to marry in Southern
California was from North Hills, and more marriages of same-sex
couples from the Valley have followed.

"Imagine all that in the Valley Girls days," said University of
Southern California professor and author Elizabeth Currid, who
specializes in the role of popular culture in shaping society.

"You add more people into the mix with different ideas, different
backgrounds, different values, it’s just implicit that you’re going to
change the dynamics, and I would argue that more diversity is always
better."

The political impact is telling. By the 2004 presidential election,
almost two-thirds of voters in the five City Council districts wholly
within the Valley voted for Democratic nominee John Kerry. That
exceeded how he did in Los Angeles County or California – or even in
his home state of Massachusetts.

Republicans say the changing of the guard in the Valley was the
product both of the demographic shift of the last generation and the
state party’s own ultra-conservative positions of the 1990s.

Possibly no one personifies that change more than Alex Wisner, 46, of
Chatsworth, a one-time foot soldier in what became known as "The
Reagan Revolution" in American politics.

A small-business man and lifelong Republican, Wisner once registered
Valley voters for Reagan and recalls that time fondly.

"I was a Ronald Reagan Republican," he said. "I remember registering
so many Democrats who were re-registering as Republicans, all because
of Ronald Reagan. I still consider myself a conservative, but I’ll be
voting for Barack Obama. He’s the new Ronald Reagan."

Such words would seem like political blasphemy to most Republicans,
especially when just to the west of the Valley earlier this year, all
the GOP presidential hopefuls sought to out-Reagan one other and claim
his legacy when they debated at the Ronald Reagan Presidential Library
in Simi Valley.

Significantly, it is now Simi Valley and nearby Santa Clarita that
have become what the Valley once was politically – the "New Reagan
Country," said Raphael Sonenshein, a political science professor at
California State University, Fullerton.

"It’s away from the midpart of Los Angeles … and the Valley," he
said. "And it’s where Republicans all sort of worship at the shrine of
Ronald Reagan."

But Lynn Kissinger of Chatsworth remembers all too well when that
shrine encompassed much of the Valley.

Kissinger, 80, and her husband, Ed, are lifelong Republicans whose
presidential voting history chronicles the GOP story of the past five
decades: Dwight Eisenhower in the 1950s, Richard Nixon and Barry
Goldwater in the 1960s, Nixon and Gerald Ford in the 1970s, down to
Reagan in the 1980s and on to the Bushes.

For the past half-century from her home just below Box Canyon,
Kissinger has seen the West Valley bloom from an extended orchard to a
suburban oasis whose occasional shifts of underground faults have been
no match for the changes in the human landscape.

"The Valley homestead after World War II was fairly simple with
returning GIs, mostly white, looking for a nice safe space to live and
raise their kids," said Elizabeth T. Adams, a professor of popular
culture and folklore at CSUN. "What has happened is that a diversity
of folks have moved to the Valley since then for a variety of reasons.

"And over time, neighbors having normative experiences with people of
different backgrounds and different religions realize that they
actually do have a lot more in common than they have differences.

"There comes a multicultural understanding that conquers irrational
fears."

Lynn Kissinger, for one, knows that something became different in the
past few years, something that, while she can’t put her finger on it,
nonetheless has altered the way she views her world. Her children are
grown, and she now has a family legacy in her grandchildren.

What brought about her change is personal, and she is hesitant to talk
about it publicly. But she has confided to her daughter, Holly Huff,
57, of Santa Susana Knolls, who said her mother will soon be doing
something that would have been anathema to Republicans of an earlier
time.

"She says she won’t be voting for a Republican for president," Huff
said. "It’s the first time. She will be voting for Obama, and it has
nothing to do with race. Race isn’t an issue for her. What is an issue
for her is the world and all the challenges we face. And she has had a
change of heart as to who she has faith in to meet up to those
challenges.

"She has seen change, and it doesn’t frighten her."

[email protected] 818-713-3761

Musinian: Acts of Violence Towards Opp, Manifestation of Fear

ACCORDING TO ARMAN MUSINIAN, ACTS OF VIOLENCE USED TOWARDS OPPOSITION
ARE MANIFESTATION OF FEAR OF AUTHORITIES

YEREVAN, OCTOBER 16, NOYAN TAPAN. The rally of the Armenian National
Congress scheduled for October 17 will be dedicated to the analysis of
the situation formed around the settlement of the Nagorno Karabakh
problem. Arman Musinian, the Spokesperson of ANC leader Levon
Ter-Petrosian informed journalists at the October 16 press conference.

He said that the opposition has received the permission to hold a rally
near Matenadaran through the court challenging the refusal of Mayor’s
Office. They also plan to hold a march, which is not authorized by
Mayor’s Office.

A. Musinian said that in the previous two days the Police illegally
hindered the events of nearly 50 members of ANC to notify citizens
about the rally. Moreover, the Police used violence to the participants
of the event, which, according to the Spokesperson, is a violation of
human rights and "small hooliganism." According to him, the actions of
law enforcers surpassing in number the participants of that event
nearly two-fold are a manifestation of fear of the authorities. A.
Musinian called policemen for "not fulfilling a political order" during
the coming rally and refraining from such a conduct.

In response to a journalist’s question A. Musinian said that opposition
rallies will be held until the problems faced by Armenia are solved.
According to him, holding of rallies is one of the ways of political
struggle, and people calling the opposition for giving up rallies are
deprived of the political way of thinking.

Purchase Of Mexidol In Armenia Forbidden

PURCHASE OF MEXIDOL IN ARMENIA FORBIDDEN

Panorama.am
21:40 16/10/2008

Ruslanna Gevorgyan, the adviser of the Minister of Healthcare
announced that the circulation of "Mexidol 50 mg injection liquids
and 2 mg N5" and "Mexidol 50 mg liquid 5 mg N5" medicines in Armenia
is forbidden. The current medicine is produced by "Elara" medical
center, Russia.

According to Mrs. R. Gevorgyan, in November and December of the
previous year the production of the current medicine has been stopped
as the company did not have license to produce it. The clinics and
pharmacies of the country are informed about it.

R. Gevorgyan said that the Ministry will control the purchase of
the current medicine having the following series – 041207, 051207,
061207, 071207, 081207, 091207, 111207, 121207, 131207, 141207,
151207, 201207, 211207, 101207, 161207, 171207, 181207, 191207,
010108, 020108, 030108, 221207, 241207, 040108, 050108, 060108,
070108, 080108, 090108, 100108, 110108, 120108, 130108, 140108,
150108, 160108, 170108, 231207, 180108, 190180, 010108, 020108, 030108.

Panorama.am asked Marina Harutyunyan, of the Ministry of Healthcare,
whether the Ministry could not supervise the situation and announce
about it earlier. M. Harutyunyan said that the Ministry of Healthcare
of Russia should have informed its Armenian counterpart, but they
have not done earlier, hence the Ministry of Healthcare of Armenia
could not have such information earlier.

30,649 Cars Imported To Armenia During Nine Months Of 2008

30,649 CARS IMPORTED TO ARMENIA DURING NINE MONTHS OF 2008

ARMENPRESS
Oct 15, 2008

YEREVAN, OCTOBER 15, ARMENPRESS: About 30,649 cars have been imported
to Armenia during the nine months of this year of which 6,229 of
Russian production. The number of imported cars to Armenia increases
from year to year.

An official from the government-affiliated state incomes committee
press service told Armenpress that in the same span of the last year
25,103 cars were exported of which 5,059 Russian.

The price of 7,321 cars imported during the nine months of this
year reached 5,000 USD, 12,228 – 5,000-10,000 thousand USD, 4,127
10,000-15,000 thousand USD, 4,922 15,000-30,000 thousand USD and
1,981 more than 30,000 USD.

In 2006 26,152 and in 2007 34,672 cars were imported to Armenia.

Armenian President Ready "To Cede Karabakh" To Azerbaijan

Haykakan Zhamanak
Sept 23 2008
Armenia

Armenian President Ready "To Cede Karabakh" to Azerbaijan

Armenian President Serzh Sargsyan has started carrying out a major
programme of ceding Nagornyy Karabakh to Azerbaijan, pro-opposition
Haykakan Zhamanak daily reported on 23 September.

Sargsyan has to cede Karabakh to remain in power, the paper said,
adding that Sargsyan’s predecessor, Robert Kocharyan, had remained in
power for 10 years "playing around the Karabakh issue". The author
of the article says that Sargsyan has to "shift to real actions"
as his predecessor had already exhausted all possible games around
the negotiations table.

Hakobyan says it is not surprising that Turkish Foreign Minister
Ali Babacan has said recently that Turkey is optimistic with regard
to Armenia’s political will in the Karabakh issue, because President
Sargsyan recently told the Azerbaijani president that "maybe, Karabakh
people express a wish to live as a part of Azerbaijan in a referendum"
if Azerbaijan makes serious investments in Karabakh. The problem is
that Armenian President Serzh Sargsyan tried to show Ilham Aliyev
ways of returning Karabakh to Azerbaijan during the negotiations,
Hakobyan writes.

The author says that one can justify Sargsyan saying that his words
were a joke, but the seriousness of the situation is that Sargsyan’s
words "fully reveal Sargsyan’s moods and programmes on the Nagornyy
Karabakh issue". One should remember in this regard that Turkish
President Abdullah Gul said after his recent meeting with Sargsyan
that Armenia is ready to return occupied territories [Azerbaijani
territories currently under Armenian control] to Azerbaijan, the
author says.

Hakobyan writes that President Sargsyan agreed to Turkey’s mediation
in Karabakh conflict and that much depends on the first tripartite
meeting between the Armenian, Turkish and Azerbaijani foreign ministers
during the upcoming session of the UN General Assembly in New York. It
is obvious that "the Armenian and the Azerbaijani sides have come to a
common denominator concerning an option of settlement of the Karabakh
conflict within the framework of Azerbaijan’s territorial integrity,
and now it is the issue of deadlines that remains".

Armenia Expo 2008 International Expo-Forum Started

ARMENIA EXPO 2008 INTERNATIONAL EXPO-FORUM STARTED

Panorama.am
19:24 14/10/2008

"Armenia Expo 2008" eights universal regional trade-industrial
international expo-forum started in "Dinamo" sport complex and will
last until October 17.

97 commercial companies and organizations from Armenia, Russia,
Ukraine, Belarus, Iran, Syria, Lebanon, Poland, France, China and
Germany are presented in the expo. This year the number of the
participants is added by 7 organizations.

The opening ceremony of the expo has been honored by the Mayor of
Yerevan Ervand Zakharyan, Deputy Minister of Economy Ara Petrosyan,
the Chairman of the Union of Manufactures and Businessmen Arsen
Ghazaryan, the Chairman of the Union of Constructors Gagik Galstyan.

Note that "Armenia Expo" has been organized by LOGOS EXPO Company
by the support of the Ministries of Economy and Foreign Affairs,
Union of Manufactures and Businessmen.

Nalbandian Wins The Stockholm Open

NALBANDIAN WINS THE STOCKHOLM OPEN

armradio.am
13.10.2008 15:25

Argentinean Armenian tennis player David Nalbandian gained a 6-2,
5-7, 6-3 win over local favorite Robin Soderling in the Stockholm
Open final.

Nalbandian earned his second win of the season and ninth career
victory. It was also the first singles victory by an Argentine in
the 40-year history of the tournament.

Nalbandian next will head to Spain to begin his defense of his Madrid
Masters title.

Having Ambitious Programs is Good

HAVING AMBITIOUS PROGRAMS IS GOOD
GEVORG HAROUTYUNYAN

Hayots Ashkhar Daily
11 Oct 2008
Armenia

But the simplest problems are not resolved

Interview with GEVORG POGHOSYAN, Head of the Armenian Sociological
Association

`Mr. Poghosyan, do we make too much haste or is the process of making
changes in the country really too slow?’

`There is such an impression that no changes are taking place. Even the
predication that L. Ter-Petrosyan would soon go abroad didn’t come
true. And now they say the `congress’ has exhausted itself and should
quit the political arena. And the activists of the so-called congress
insist that each new meeting of theirs is going to be the most
decisive, and something is going to change. Both parties exaggerate.
Whereas the congress should become an active political pro-opposition
force and continue working. And the authorities should work as well.

No ultimatums, threats or demonstrations can change anything. The
political arena cannot exist without the opposition. Society is
disappointed both with the opposition and the authorities equally. This
is the saddest fact. The people are dissatisfied with the role of both
parties.

In our country, establishing a Ministry, providing it with a space,
furniture, human resources and equipment turns out to be easier than
forming a public council under the President. Striking though it is,
such=2
0is the truth. Whereas, no particular space or expenses are
required for setting up the public council. This creates an impression
that there’s very little need for setting up the council.

Yes, a country like Armenia which has such a big Diaspora should have
established a relevant Ministry long ago. Because the absence of such
body in Armenia is as unusual as the absence of an Oil Ministry in a
country rich in oil resources. We all say that our chief potential is
the human being; we export `brains’ and labor force, and the foreign
transfers constitute the major part of our Gross Domestic Product. The
Diaspora is our oil, but it is only now that we are going to have a
Ministry of Diaspora.

Now, both the President and the Prime Minister of the country say that
tour intellectual potential is the principal resource for us to be
considered competitive on the global level. This structure is necessary
in terms of making the public domain active and participating in the
strengthening of the state.

Especially considering that the political opposition appears on the
arena occasionally, mostly at election time, and then, suffering a
defeat, goes underground again. It is necessary to have a permanently
working institution on the political arena; and this is no less
important than having a Ministry of the Diaspora.’

`Why do you think the process of forming the Public Council is being 0D
delayed?’

`There are hundreds of `whys’ like that. It turns out that the
authorities choose to discredit themselves. The promises that are being
given and the ambitious programs that are being published are very
attractive and desirable. The ideas of becoming a regional center of
energy supply, financial resources, tourism, healthcare and technology
are brilliant. It is an axiomatic truth that our society and economy
should be based on knowledge. We, all the scientists, are happy that
the statements we have been making for 10 years are now being pointed
out by the authorities.

All the statements are right and commendable, and all the ambitious
programs are desirable. But eventually, even the simplest and
easy-to-solve programs remain unsolved. There is obviously a wide gap.
Even in the elitist shops and expensive boutiques the controlling
cashboxes were never installed, but we are planning to become a
regional financial centre. Unless we resolve the simple problems, no
one will believe that we are capable of implementing complex and
ambitious programs. It is also possible to solve small-scale problems
along with the implementation of the complex and ambitious programs,
but that is never done.

This is a way towards self-discrediting. As a matter of fact, nothing
changes in everyday life. It turns out that the authorities make
declarative statements which is really dangerous.’