Author: Navasardian Karapet

FITCH RATINGS ANALYST: HIGH CAPITALIZATION OF MOST ARMENIAN BANKS WILL HELP ABSORBING LOSSES IN CASE OF WORSENING ASSET QUALITY

ArmInfo
2009-09-16 19:25:00

ArmInfo. High capitalization of most Armenian banks will help them
absorbing losses in case of worsening asset quality, Fitch Ratings
Agency’s Analyst on CIS Financial Organizations Nelli Badalian told
ArmInfo.

She said that the global financial and economic crisis has
predetermined development of Armenian banks since late 2008. During
2009 the country experienced sharp devaluation of the national
dram that has led to increase of foreign currency deposits, she
said. Economic decline and devaluation have negatively affected the
quality of bank assets and the share of defaulted loans has grown to
10% of total portfolio since early 2009 and has not changed over the
last two months. Given the significant economic decline, such share
of defaulted loans is moderate though further growth of default is
not ruled out either, she said.

N. Badallian said the share of foreign market funding in Armenian
banks is not high. Bank did not issued euro bonds, almost did not
attract funds through syndicated loans. Funds were provided either by
international financial institutions or parent banks since possible
extension of terms is easier with them, she said.

Armenian national dram sharply devaluated on March 3 2009. GDP fell
16.3% for Jan-Jul 2009 and reached 18.5% in late July.

NKR ATLAS PUBLISHED

PanARMENIAN.Net
15.09.2009 18:56 GMT+04:00

/PanARMENIAN.Net/ By the order of Real Estate Cadastre under the NKR
Government, the Geodesy and Cartography Center of Cadastre’s State
Committee compiled the NKR Atlas and prepared it for publication in
Armenian and Russian languages. After two years’ preparation work
(2007-09), the atlas was recently published at the Tigran Mets
publishing office in Yerevan.

It gives full historical-geographical notion of the Nagorno Karabakh
Republic. About 70 medium- and large-scale maps, texts, and schemes
comprised therein provide comprehensive information about NKR’s
formation, geographical location, natural conditions and resources,
as well as population, economy and culture. The atlas also introduces
the reader to the geopolitical and military-political events which
played a crucial role in the history of the Artsakh Armenians.

The atlas is available in 1.500 copies. Chair of the editorial staff
and Editor-in-Chief is Candidate of Technical Sciences Manuk Vardanian,
NKR Foreign Ministry’s Press Service reports.

ANOTHER SUICIDE IN AZERBAIJAN’S ARMY

Aysor
Sept 15 2009
Armenia

Tofik Aliyev, 19-year-old soldier in the Azerbaijani army, had
committed suicide by shooting himself.

According to soldiers’ uncle, Yadigyar Aliyev, the Military
Commissariat of Astara region called Tofik Aliyev up for military
service in September 2008. After one-year-service Tofik Aliyev took
a month’s leave for holiday and then returned back on September, 11,
Azerbaijani media outlets report.

Soldier’s body was given to his relatives on September, 13.

Note that similar incidents in Azerbaijan’s Army happen very often,
basically caused of hazing.

PRESS RELEASE
Catholicosate of Cilicia
Communication and Information Department
Contact: V.Rev.Fr.Krikor Chiftjian, Communications Officer
Tel: (04) 410001, 410003
Fax: (04) 419724
E- mail: [email protected]
Web:

PO Box 70 317
Antelias-Lebanon

HIS HOLINESS ARAM I INAUGURATES
THE RENOVATED SANATORIUM OF THE CATHOLICOSATE

On Friday 11 September 2009 in the evening, His Holiness Aram I inaugurated
newly renovated section of the main Building of the Azounieh
Sanatorium-Hospital, the community room and the library. It was dedicated to
Zohrab Torikian. Zohrab Torikian was the Chairman of the Board until his
death and he a strong supporter of the renovation project. He was also very
well known for his dedication to the church, its spiritual life and
humanitarian projects since he was a youth.

Azounieh Sanatorium was created when tuberculosis was taking many lives. It
is located in the mountainous region of Chouf. Recently the sanatorium had
also become a hospital and Old Peoples’ home. The representative of the
Minister of Health was among the many guests at the inaugural ceremony. In
his address he congratulated the church and its faithful donors for
responding to a real need in Lebanon, and said: "You should be proud of your
work. You built Azounieh when the need was great and there were not many
sanatoriums. Today, you have renovated it to meet the new needs of the
people."

After blessing the place and the people, His Holiness said: "The Armenian
Church does not talk; it expresses the greatest Christian command of love
through its deeds. Despite the difficulties in Lebanon, Armenians stayed and
will continue to stay and serve Lebanon." He then thanked the donors and the
staff for their devotion.

##
View the photos here:
tos/Photos398.htm4
*****
The Armenian Catholicosate of Cilicia is one of the two Catholicosates of
the Armenian Orthodox Church. For detailed information about the history and
the mission of the Cilician Catholicosate, you may refer to the web page of
the Catholicosate, The Cilician
Catholicosate, the administrative center of the church is located in
Antelias, Lebanon.

PERMANENT REPRESENTATIVE OF ARMENIA TO UN, AMBASSADOR KAREN NAZARIAN HANDS OVER HIS CREDENTIALS TO UN SECRETARY GENERAL BAN KI MOON.

Noyan Tapan
Sep 12, 2009

NEW YORK, SEPTEMBER 12, NOYAN TAPAN. Permanent Representative of
Armenia to UN, Ambassador Karen Nazarian handed over his credentials
to the UN Secretary General Ban Ki Moon on September 10.

In the conversation following the solemn ceremony the sides touched
upon Armenia’s involvement in UN and its priorities, as well as the
cooperation between the RA government and UN Armenian Office.

K. Nazarian expressed satisfaction with the process of programs
implemented by different UN agencies and funds in Armenia and attached
importance to the participation of Armenia’s state establishments
and NGOs in 2010-2015 UN Development Program’s process.

UN Secretary General in his turn noted that the UN Armenian Office will
be guided in its activities by priorities for Armenia and Millennium
Development Goals.

According to RA Foreign Ministry’s Press and Information Department,
at the meeting the interlocutors also touched upon the negotiations
over the settlement of the Nagorno Karabakh conflict and normalization
process of Armenian-Turkish relations.

Announcement

=2&p=0&id-2&y09&m=09&d=13
11.0 9.09

On the 10th of September, 2009 the Azerbaijani mass media disseminated
a notification, as if the sub-units of the Armenian Armed Forces have
started an unsuccessful attack in the direction of Aghdam, as a result
of which five Armenian soldiers were killed and three more were
wounded. Regarding the incident, the Press Secretary of the Defence
Army of the Republic of Nagorno Kharabakh Lieutenant-colonel Senor
Hasratyan has come up with a refutation.
On the same day in the evening the Azerbaijani vesti.az website
published an interview with an Azerbaijani military expert Uzeir
Jafarov, who, not being able to answer the question how it is possible
to speak of an exact number of victims when there are no corpses, he
said, `Every attack is followed by losses in the group, no matter
whether the Armenian side publishes the number of the death or not’.
This chip informational game of the Azerbaijani media and `military
expert’ Jafarov shows that the Azerbaijani side once again tries to
lift the martial spirit of its army and society, while destabilizing
the situation.
A proof of what has been said is the photo of a killed soldier with a
capture `the perished Armenian soldiers’, which has been published in
vesti.az website. But ridiculous thing is that in the photo a Georgian
soldier is illustrated, who was20killed during the Russian-Georgian war
in 2008. This photo has already been published in the website of the RF
Communist party: ().

ArmenTel plans opening of independent public reception room
12.09.2009 16:44 GMT+04:00

/PanARMENIAN.Net/ ArmenTel plans opening of independent public
reception room, to resolve service quality-related issues, Head of
ArmenTel Client Service Department Burastan Movsesyan told a news
conference in Yerevan.

`ArmenTel reception room will be operating at company’s headquarters,
establishing business hours to handle customers’ complaints in the
presence of public representatives,’ Burastan Movsesyan said, adding
that an increase in reception rooms’ number is scheduled in
future. According to her, company allocated additional resources in
order to more efficiently handle customer complaints.

Information-Analytic Agency NEWS.am , Armenia
Sept 12 2009

ANC takes no steps on Karabakh settlement: Shahnazaryan

13:32 / 09/12/2009Out of all post-soviet republics, excluding Baltic
States, Armenia is the only one having a formed opposition, Armenian
National Congress member David Shahnazaryan stated at the ANC
headquarter opening in Hrazdan. He underlined that Armenian opposition
is not temporary or post-electoral and eventually ANC will win.

According to him, if ANC bolts `such a union will not be shaped in
Armenia in the near 10-15 years.’ Shahnazaryan also touched upon
Armenian-Turkish reconciliation, saying there is not a single point in
the Protocols implying concessions from Turkish side. Just the
contrary, Armenian side is the one to make concessions. He mentioned
the provision on setting up the historians’ sub-commission.

Commenting on the Karabakh conflict settlement, ANC member emphasized
that the Party finds difficulty in making decisive actions as Karabakh
itself either does not express its clear position on the matter or NKR
authorities state pinning faith on the Armenian president.
`Unfortunately neither NKR authorities nor its population assess the
situation accurately’.

JOINT CONSULTATION OF DELEGATIONS OF ARMENIAN NATIONAL SECURITY AND RUSSIAN FEDERAL SECURITY SERVICES TAKES PLACE IN YEREVAN

ARMENPRESS
SEPTEMBER 10, 2009
YEREVAN

YEREVAN, SEPTEMBER 10, ARMENPRESS: Joint consultation between
the delegations of Armenian National Security Service headed by
General-Lieutenant G. Hakobian and Russian Federal Security Service
headed by the General of the Army A. Bortnikov took place September
8-10 in Armenia.

Press office of the National Security Service told Armenpress that
during the consultation a wide range of issues connected with the
extremism and international terrorism, fight of the two departments
against the organized crime, prospects of scientific technical
cooperation, exchange of operative information in different spheres,
as well as other issues have been discussed.

Such annual meetings contribute to the increase of the efficiency of
the bilateral cooperation. Within the frameworks of the consultation
agenda the Heads of Armenian National Security Service and Russian
Federal Security Service were received by the Armenian President
Serzh Sargsian.

IFC’S INVESTMENTS IN ARMENIA TO REACH $37 MILLION IN 2009

ARKA
September 9, 2009
YEREVAN

YEREVAN, September 9. /ARKA/. International Finance Corporation’s
investments in Armenia are to reach $37 million in 2009, Thomas Lubeck,
International Finance Corporation regional head for the Caucasus,
said Wednesday presenting the IFC’s report on sustainable development.

He said that the IFC has invested in banks, the mining industry and
the real sector of Armenia’s economy.

Lubeck also said that IFC intended to enlarge its functions.

The International Finance Corporation (IFC) promotes sustainable
private sector investment in developing countries as a way to reduce
poverty and improve people’s lives. IFC is a member of the World
Bank Group.

Armenia joined the corporation in 1995. The corporation started
investing in Armenia’s economy in 2000.

Besides investments, the IFC also finances private sector projects
and provides advice and technical assistance to businesses.

The IFC has already invested $47 million in ten projects in Armenia.

Besides, IFC intends to provide extra $120 to 160 million in credits
and as participation in private companies’ capital.