Author: Tatoyan Vazgen

EXTERNAL DEBT OF ARMENIAN COMMERCIAL BANKS, CREDIT INSTITUTIONS $555MLN IN 2008

Noyan Tapan
March 24, 2009

YEREVAN, March 24. /ARKA/. The external debt of the Armenian commercial
banks and credit institutions totaled $555mln last year.

According to the Review of the Central Bank of Armenia (CBA) for
the 4th quarter of 2008, the Armenian commercial banks and credit
institutions attracted a total of $573mln last year.

Last year, the Armenian commercial banks and credit institutions
spent a total of $380mln on serving their external debts.

As of the end of 2008, among the principal creditors of the Armenian
commercial banks and credit institutions were Russia (16.4% in the
total debt against 14.4% in 2007), France (9.4% against 3%), Latvia
(9.1% against 10.8%), Germany (7.5% against 6.2%).

Also, international organizations issued about 25.2% of the credits
last year.

The banks invested the attracted credits in the following sectors:
industry ($184mln), agriculture ($94), the financial sector ($85).

The weighted average interest rate on credits attracted by the Armenian
financial organizations was reduced down to 6.3% last year against.

Also, the credits with floating interest rates (LIBOR, EURIBOR, CBA
government bonds) constituted 57.9% of all the attracted credits,
the average repayment period being 3 years and eleven months. During
the period under review, short-term credits constituted 12.4% against
13.7% late in 2007.

VERDICT IN APRIL

A1+
07:41 pm | March 24, 2009

Politics

The first instance court of the Kentron and Nork Marash communities
continued to discuss the lawsuit filed by former press speaker for the
Ministry of Foreign Affairs, member of the committee on international
relations of the Armenian National Congress Vladimir Karapetyan.

The plaintiff, the RA Special Investigative Service, was once again
not present during the trial. But that didn’t bother Judge Armen
Melkonyan from continuing the trial.

Karapetyan was complaining to the Special Investigative Service for
not instigating a case for the assault by Deputy Commander of the
Yerevan patrol service regiment Valeri Osipyan on Tumanyan street on
2008 September 9. Let us remind that Osipyan had approached Karapetyan
for no reason, pushed and shoved him and then had taken him to the
police division where Karapetyan was kept for nearly half an hour.

Today Karapetyan’s advocate Tigran Atanesyan presented the information
given by French Armenian journalist Vahe Ter-Minasyan. According
to that information, on that day, Karapetyan was simply answering
Ter-Minasyan’s questions and was not disturbing the peace. Karapetyan
told us that it appeared that the criminal case had not been instigated
because the case was not investigated thoroughly.

The judge released all documents and materials that had been presented
to the court by both sides and decided to release the verdict on
April 2 at 5:40 p.m.

ARMENIAN ECONOMY EXPERIENCING HARDSHIPS

PanARMENIAN.Net
21.03.2009 20:42 GMT+04:00

In January-February 2009 the GDP in Armenia decreased by 3.7% against
the last year’s index and totaled AMD282 billion, according to national
statistics service.

The decrease is conditioned by 9.7% industry and 1.5% construction
slump.

The foreign trade index has decreased by 26.2% and totaled $506
million. Export decreased by 44.8% and import by 21.2%.

The number of unemployed has increased by 4.6% and reached 75.7
thousand people.

The average salary was fixed as AMD94.7 thousand, what is 13.5%
more than last year.

The inflation rate made 0.7%.

Today’s Zaman, Turkey
March 21 2009

Obama set for packed schedule on Turkey visit

US President Barack Obama will travel to Turkey together with his
wife, Michelle Obama. He will visit both Ankara and Ä°stanbul.

US President Barack Obama’s visit to Turkey has been scheduled with
trips to both Ankara and Ä°stanbul, as he is due to arrive in
the Turkish capital on the evening of April 5 for a meeting with
President Abdullah Gül and one with Prime Minister Recep Tayyip
ErdoÄ?an the following day.

His stay in Ankara also includes a landmark address to the Turkish
Parliament and a visit to the mausoleum of Atatürk, founder of
the modern Turkish Republic. President Obama’s wife, Michelle Obama,
will be accompanying him on the visit, which is his first to a Muslim
country since taking office on Jan. 20. While Obama meets with
ErdoÄ?an in his office, Mrs. Obama will meet with
Mrs. ErdoÄ?an in a separate room, the news station NTV reported
yesterday.

Obama and ErdoÄ?an are expected to fly to Ä°stanbul
together to attend a meeting of the UN-backed Alliance of
Civilizations initiative there on April 7. It was not clear whether a
US or Turkish aircraft will be used. Following a lunch hosted by
ErdoÄ?an, Obama will take a boat tour of the Bosporus. He is
also expected to hold a joint press conference with ErdoÄ?an
before wrapping up his visit.

NTV said more than 10,000 vacation approvals for police officers have
been cancelled in Ankara, a sign that the strictest security measures
will be in place during the US president’s visit. The visit is seen a
sign of the Obama administration’s willingness to work with Turkey on
a number of key foreign policy aspects, including the stabilization of
Afghanistan and Iraq, and Iran’s nuclear program. The Turkish
government is likely to raise the issues of Armenian claims of
genocide at the hands of Ottoman Turks during World War I and
cooperation in the fight against the outlawed Kurdistan Workers’ Party
(PKK).

21 March 2009, Saturday
TODAY’S ZAMAN Ä°STANBUL

UNIBANK CONTINUES ITS GROWTH PROCESS

Noyan Tapan
March 20, 2009

YEREVAN, MARCH 20, NOYAN TAPAN. After 7 years of successful activities,
Unibank continues its growth process. In 2008 the bank strengthened
its positions in Armenia’s deposit and crediting markets: Unibank was
in second place in the mortgage sector and in first place in terms
of attraction of natural persons’ deposits, while more than 50% of
remittances to Armenia is transferred through Unibank. Gagik Zakarian
– chairman of Unibank’s board and chairman of the bank’s founder –
Uniastrum Bank (Russia) stated this at the March 19 press conference.

He said that in February 2009 the capital of Unibank was replenished
by nearly 10 million USD (3 billion drams), which was conditioned
by the fact that there is demand for credits, especially credits for
small and medium business, at the bank so the number of programs in
this direction will grow.

In the opinion of G. Zakarian, crediting volumes of enterprises
engaged in food processing as well as in sectors with potential to
replace import will also increase.

After the replenishment of the bank’s capital, authorized capital
of Unibank amounted to 8 billion 599.7 million drams, its overall
capital – to 11.5 billion drams.

The CEO of Unibank Vardan Atayan said that under an agreement recently
signed with Uniastrum Bank, Unibank attracted credit resources of
50 million USD, which were allocated for implementation of crediting
programs.

The share of natural persons’ deposits in overall liabilities made
up 62% in late December 2008, and by this index Unibank was in first
position in the Armenian banking system. The total amount of natural
persons’ deposits made 36.6 billion drams, with Unibank taking second
place by this index.

In 2008 Unibank serviced more than 1.4 million customers. Over half of
Armenia’s remittances was made by Unisream system. By the 2008 results,
the circulation of the system amounted to over 801 million USD.

As of December 30, 2008, time deposits of natural persons at Unibank
amounted to 32 billion 541 million drams (27% growth in 2008). The
bank’s assets increased by 49.9% to 68 billion 141 million drams. The
overall capital grew by 25.8% to 8 billion 822 million drams. The net
profit of the bank amounted to 1 billion 729 million drams, exceeding
5fold the index of the previous year. Unibank’s laibilities grew
53.7% to 59 billion 319 million drams in 2008. The credit portfolio
increased by 17 billion drams and made 46 billion 691 million drams
as of December 30, 2008.

TURKISH ENVOY TRIES TO ALLAY AZERI FEARS ON ARMENIA TALKS

ANS TV
March 18 2009
Azerbaijan

The Turkish ambassador to Azerbaijan has dismissed allegations that
his government is planning to reopen the Armenian border.

"Friends, let us not believe hearsay. Let us wait a little bit,"
Hulusi Kilic was shown on ANS television telling reporters in
Baku. "Turkey would not do something that Azerbaijan does not want
it to do, I must say."

Some Azerbaijani officials had earlier expressed concern about
Turkish-Armenian talks, which have intensified of late. Kilic tried
to allay Azerbaijan’s fears.

"Azerbaijan should trust Turkey. We would not do anything that
Azerbaijan does not want us to do. Turkey will always be by
Azerbaijan’s side," he said.

KHACHATUR MAROZYAN: CORRUPTION IN ARMENIAN UNIVERSITIES TERRIFYING

PanARMENIAN.Net
20.03.2009 21:05 GMT+04:00

/PanARMENIAN.Net/ Lawyers and Psychologists Association NGO surveys
have shown that in 2008 corruption was more common for State
Universities and central schools of Yerevan, rather than for uptown
schools.

"Corruption in Armenian Universities assumes terrifying forms, and
unhealthy relations between teachers and students present a serious
threat to effective education and reforms in this area. Tutors take
unprofessional attitude towards students," Lawyers and Psychologists
Association President Khatchatur Marozyan noted.

To eliminate corruption, the OGO has created anticorruption auditoriums
in Universities, to organize meetings and discussions between tutors
and students outside educational process.

According to Khatchatur Marozyan, the organization has already
addressed to RA Ministry of Education and received an endorsement to
undertake struggle against corruption in schools and universities.

THE NA DELEGATION TO LEAVE FOR MOSCOW TO TAKE PART IN THE 16th SESSION OF THE INTER-PARLIAMENTARY COOPERATION COMMISSION

ARMENPRESS
March 20, 2009

YEREVAN, MARCH 20, ARMENPRESS: The multi-partied delegation of Armenian
parliament will leave for Moscow March 25 to take part in the 16th
session of inter-parliamentary cooperation commission between Armenian
National Assembly and Russian Council of Federation.

During today’s parliamentary briefings head of the Armenian side of
the commission, secretary of the faction of Prosperous Armenia Party
Aram Safarian informed that the issue of cooperation between Armenian
and Russian provinces is in the agenda of the session.

He noted that meeting the claims of the head of delegation of Russian
Council of Federation Nikolay Rizhkov, the NA speaker Hovik Abrahamian
has expanded the staff of Armenian delegation up to 20 people. Thus
the number of Armenian and Russian delegations in the commission has
been brought to a line.

A. Safarian also informed that during today’s working consultation
suggestions on the further activities of the commission have been
worked out: particularly on the suggestion of Armenian delegation the
issue on conditions of transport cooperation and cargo transportation
between Armenia and Russia will be involved in the agenda of 17th
session which will take place in October in Yerevan, which is more
urgent in respect of bilateral economic relations.

CEC DOES NOT SO FAR RECEIVE BID ON NOMINATION FOR YEREVAN COUNCIL OF ELDERS ELECTIONS FROM ANY POLITICAL FORCE

Noyan Tapan
March 19, 2009

YEREVAN, MARCH 19, NOYAN TAPAN. As on the previous two days, on
March 19 – the third day of nomination for the May 31 elections of
Yerevan Council of Elders, the Central Electoral Commission (CEC) of
Armenia has not received a nomination bid from any political force,
NT correspondent was informed by spokeswoman for CEC Tatev Ohanian.

The CEC has not so far received a bid on accreditation for implementing
observer mission at the elections from any organization.

The deadline for presenting the documents necessary for registration
of parties and party blocs to the CEC is March 22, 6 pm. The deadline
for accreditation of observers is March 21.

ICON COMMUNICATIONS READY TO INCREASE INVESTMENTS VOLUME IN ITS TELECOMMUNICATION NET IN ARMENIA FROM 10 TO 15 MLN US DOLLARS

ArmInfo
2009-03-17 12:21:00

ArmInfo. Icon Communications is ready to increase investments volume
in development of its telecommunication net in Armenia from $10 to
$15 mln, executive director of the company, Adam Kaplanyan, told
journalists today.

He also added today the number of the basic stations of the company
for WiMAX communication in Yerevan is about 30, another 18 will be
set till the end of the current year. The number of employees will
also grow from the present 50 up to 80. Kaplanyan did not rule out
construction of their own external fiber-optic cable in future. To
recall, according to the public opinion poll held by the company among
700 private and corporative users in the capital city and regions
of Armenia, 80% of private Internet users in Armenia use Dial-up and
only 5% – ADSL. A total of 41% of corporative users think that cost
of Internet is not adequate to its real quality.