Author: Yeghisabet Arthur

JULIA SARKISOVA: THE OLIGARCH’S WIFE AS MUSE
Godfrey Deeny

Fashion Wire Daily
ashion/article.weml?id=2885
Oct 21 2009

If you really want to find out if someone is married to, or simply
dates, a deep-pocketed oligarch, then ask them if they have anything
in their wardrobe by Julia Sarkisova.

Sarkisova, an oligarch’s wife herself, staged her second runway show
on Tuesday night, Oct. 20, in Moscow before a packed crowd of Russian
fashionistas, who cheered on her every move and look.

Technically speaking, the collection owed a lot two hit labels from the
West, Roberto Cavalli in Milan and Balmain in Paris, though Sarkisova
did give the collection just enough spin to be justified in putting
her own label on the clothes.

There was an eye-catching amount of "bling-bling" on display on
the front row of Sarkisova’s runway; the Russian economy has just
officially emerged from the recession. Figures released Tuesday
showed that the economy grew by 0.6 percent in the third quarter of
2009; that’s after falling 10.9 percent in the second quarter, in
a record contraction. Plus, with oil reaching over $80 per barrel,
the ruble has steadily risen against the dollar in recent weeks,
fueling optimism here.

"We had a very difficult year last year, for designers and retailers.

But things are on the mend, and fairly rapidly," said Alexander
Shumsky, founder and CEO of Russian Fashion Week.

He noted that the current seven-day season boasts 56 designer runway
shows, compared to 45 shows in the previous season. "Those figures
speak for themselves. It shows there is a lot more belief in the
future," Shumsky added.

Sarkisova’s show felt rather celebratory in mood, as the first models
appeared in faded jeans, bestrewn with crystals and, remarkably,
real diamonds. The clothes are so expensive – certain looks cost in
excess of $100,000 – an extra team of security guarded them backstage,
financed by her Armenian husband, Nicholai Sarkisova.

Jeans, dangling with glitter, paired with craftily dyed vests and
blousons, made, of course, in the wildly expensive hides of chinchilla,
all added to the sense of over-the-top opulence.

While the designer was assured in the day looks and comfortable at
the drinks hour, with some slinky, beaded mini cocktail dresses, she
badly lost direction at night. Her largely predictable ball gowns,
lacy at the top, all satin below, really did not work.

However, her opening ideas will surely find followers, and acquisition
of these clothes should grant one instant membership into a moneyed
elite.

Ergenekon Party to be founded
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Tuesday, October 20, 2009
IZMIR – Dogan News Agency

The Ergenekon Party, or ER Party, will be the next organization in
Turkey’s political scene if the group’s application is accepted, an
Izmir lawyer said Tuesday. The group aims to be an official political
party by Oct. 29, which is the anniversary of the day Turkey was
declared a republic.

When asked why they chose the name, lawyer Tarcan Tülük said, "To
show that it is wrong to name a law case and terror organization after
such a great heroic myth of the Turks."

Tülük said the group was inspired by the structure of the Pirate
Party in Sweden and that they will model their organization accordingly;
instead of working in big buildings and huge offices, the party will
operate primarily through the Internet and in small offices.

"The ER Party is the solider of Atatürk’s spiritual legacy," Tülük
said.

http://www.hurriyetdailynew s.com/n.php?n=3Dergenekon-party-is-to-be-founded-2 009-10-20

TURKEY URGES AZERBAIJAN NOT TO MIX ENERGY PROJECTS WITH POLITICS

Anadolu Agency
Oct 19 2009
Turkey

Milan, 19 October: Turkish Energy Minister Taner Yildiz called on
Azarbaijan – which announced it would raise the price of natural gas
sold to Turkey in reprisal for recent Turkey-Armenian rapprochement –
not to entangle energy projects with politics.

Yildiz commented on Turkey Azerbaijan relations at the press conference
held Monday following the signing of MoU on Samsun-Ceyhan Pipeline
between Turkey, Italy and Russia in Milan.

Yildiz replied to Azerbaijani President Ilham Aliyev who said
Azerbaijan had been selling natural gas to Turkey, at one third of
the global prices, saying that Turkey purchased natural gas at former
rates only for ten months, and later proposed a raise in 2008.

Yildiz who pointed out that Turkey’s offer still stood, said Aliyev
must have been misinformed.

"We will never want Azerbaijan to loose money. The talks for revision
of prices were deadlocked for a brief period. We raised our offer
and talks continue," said Yildiz.

Turkey and Armenia had no diplomatic ties or economic relations since
Turkey closed its border with Armenia after this country invaded the
Upper-Karabakh region of Azerbaijan in 1992, until recently when the
two countries agreed about a month ago on a protocol to establish
relations after months-long Swiss mediated talks.

The two countries signed two protocols recently to normalize relations
which among other things foresees reciprocal opening of borders
between the two countries and mutual recognition of existing borders.

Azerbaijan which have been uneasy about the recent rapprochement
between Turkey and Armenia voiced concern and sought reassurance
from the government of Turkey, its old ally, that it would not reopen
borders with Armenia before a settlement to the Upper-Karabakh dispute.

Tough Premier Recep Tayyip Erdogan and other officials promised not
to open borders before a settlement was reached, Azerbaijan announced
it would raise the price of natural gas sold to Turkey and look for
alternatives routes bypassing Turkey to carry its gas to Europe.

Yildiz referred to Aliyev’s remarks suggesting Turkey ought to cut
transit fees for Azerbaijani gas and said Aliyev was misinformed on
this issue too.

"Turkey has always looked out for our ally and brother Azerbaijan. It
is a known fact that Turkey charges lower transit fees for Azerbaijani
gas, compared to other countries" said Yildiz reassuring once more
that Turkey would not make agreements with Armenia that would hurt
Azerbaijan.

IFC: ARMENIAN, GEORGIAN BANKING SYSTEMS HAVE ROOM FOR LONG-TERM DEVELOPMENT

ARKA
Oct 19, 2009

YEREVAN, October 19. /ARKA/. On Monday, Thomas Lubeck, the head of
the IFC Caucasus office, speaking at a press conference in Yerevan,
said Armenian and Georgian banking systems have room for long-term
development.

He views considerable room for crediting and depositing.

Lubeck thinks both countries have competitive banking systems.

He said Armenian banks have greater accumulated capital than Georgian,
but Georgian banks faced problems triggered not only by the global
recession, but also by complicated political situation in the region.

The head of the IFC Caucasus office said that Armenia and Georgia are
under equal pressure of capital, and both countries have no problems
with liquidity.

According to ARKA News Agency’s preliminary data, Armenian banks’
aggregate assets reached AMD 1226.4 billion by September 30, 2009,
after growing 22.2% or by AMD 229.8 billion, compared with the
beginning of the year.

The banks’ liabilities totaled AMD 999.6 billion by late September
after growing 25.45% or by AMD 202.8 billion and their aggregate
capital amounted to AMD 266.8 billion after growing 11.3% or by AMD
27 billion, compared with early January. ($1 = AMD 386.07).

BJNI CASE IN EUROPEAN COURT

5600.html
16:35:31 – 19/10/2009

The Bjni mineral water company informs that the third department of
the European Court accepted the factory’s application against the
Republic of Armenia. Recall that on July 24, 2009 the Bjni Mineral
Water Company and Sukiasyan appealed to the Human Rights Court of
Europe against the Republic of Armenia. The appliers asked a just
compensation of 220 million euro.

In accordance with some international experts’ opinion, this claim
is grounded regardless this fact the European court may make the
Republic of Armenia pay less money considering the social situation
in the country.

DECLINE IN GAS CONSUMPTION PREDICTED IN ARMENIA IN 2009

ArmInfo
2009-10-20 12:14:00

ArmInfo. Consumption of natural gas in Armenia is expected to fall 15%
in 2009 versus 2008, Karen Karapetyan, Chairman of Board and Director
General of ArmRusgasprom CJSC, told media on Tuesday.

He said a 22% decline in gas consumption has already been registered.

K. Karapetyan believes that the company is unlikely to get profit
for 2009 because of falling consumption and fluctuating currency rates.

In such conditions the company sets no super tasks to raise gas
tariff not to create additional burden for consumers and not to lead
to additional construction of market. K. Karapetyan said: "Financial
flows of the company are managed so that no big investment project is
damaged or delayed." He said that over the last 4 years the company
has invested US$700-750 million and there is no other company to
invest such big funds in the country. The authorized capital of the
company has almost reached $1 billion. "Such indicators, indeed,
allow us to count on profit otherwise we will be unable to invest
in a company having such big economic and social importance for the
country. The government support to the company is the best evidence
of the aforementioned," he said.

Russia supplied 2.2 billion cu meters of gas to Armenia in 2008. The
net profit of the Russian-Armenian CJSC ArmRusgasprom fell 59.2% in
2008 versus 2007 and totaled 4563 million drams. Gazprom OJSC holds an
80% stake in the company and the Government of Armenia – a 20% stake.

ArmRusgasprom is the only supplier of natural gas to Armenia.

AZERBAIJAN: BAKU AND ANKARA IN GAS PRICING DISPUTE

s/articles/eav101909.shtml
10/19/09

Azerbaijan has accused Turkey of delaying Caspian Sea natural
gas exports to Europe by insisting on a bargain-basement price
for Azerbaijani gas. The remarks come at a critical time for
Turkish-Azerbaijani relations, which have been unsettled by the thaw
in relations between Turkey and long-time Azerbaijani foe Armenia.

Addressing his cabinet, Azerbaijani President Ilham Aliyev charged that
Ankara is nickel-and-diming Baku for transit services. "It is not a
secret that for several years now Azerbaijan has been supplying gas
to Turkey for 30 percent of the market rates," the APA news agency
on October 19 quoted Aliyev as saying. "Which country will be happy
to sell its resources at 30 percent of the world market price?"

"We want to sell our gas if not at the world market price, at least
for a price that is close to it," Aliyev continued. "Let this price
not equal the price of the Russian gas, but at the very least it can
be lower by eight to 10 percent, not by 50 percent."

Turkey is the key transit link for the US-backed Nabucco pipeline
project that is meant to bypass Russia to bring Caspian gas to Europe.

Instead of charging a transit fee, Turkey is offering to buy
Azerbaijani gas, and sell it to its European neighbours.

U.S. LEADER URGES TURKISH PRESIDENT STEP UP EFFORTS

Information-Analytic Agency NEWS.am
Oct 19 2009

During a telephone conversation with his Turkish counterpart Abdullah
Gul, U.S. President Barack Obama discussed the situation in Afghanistan
and the Armenian-Turkish rapprochement.

The two leaders talked about "historic progress" that is being made
to normalize relations between longtime foes Turkey and Armenia and
stressed the importance of intensifying necessary efforts, reported
Associated Press.

A high-ranking official of the U.S. Department of State, who was member
of the U.S. delegation led by U.S. Secretary of State Hillary Clinton
during the Zurich ceremony, told Associated Press that the United
State is interested in the Armenian-Turkish border being reopened
for the primary reason that it will open a way to Afghanistan.

U.S. President Barack Obama intends to state again the necessity of
ratifying the Armenia-Turkey Protocols signed in Zurich on October
10 as soon as possible, a high-ranking European diplomat told NEWS.am.

During his meeting with Turkish Prime Minister Recep Tayyip Erdogan
on October 19, President Obama intends to voice the U.S. position:
linking the ratification with other issues is fraught with a breakdown
of the Armenia-Turkey normalization process, which is unacceptable.

Moreover, if the voting fails in the Turkish Parliament, Erdogan may be
relieved of his post, as Turkish President Abdullah Gul’s position is
ratifying the protocols in the near future without any preconditions,
including ones related to the Nagorno-Karabakh peace process.

WB READY TO ASSIST RA AND TURKISH GOVERNMENTS TO ESTABLISH BILATERAL RELATIONS

PanARMENIAN.Net
19.10.2009 10:25 GMT+04:00

/PanARMENIAN.Net/ Intergovernmental border opening will create new
economy growth perspectives in Armenia, as a landlocked country,
WB Managing Director Ngozi Okonjo-Iweala told a news conference in
Yerevan. "WB welcomes the perspective of possible opening of border
with Turkey, which will promote economic development in Armenia and
create new possibilities," she said.

Ngozi Okonjo-Iweala expressed her readiness to work with RA and
Turkish governments to assist in this important process.

As WM MD stated, WB was instructed by RA Premier Tigran Sargsyan to
assess the needs of Armenian infrastructure in case of possible border
opening. "We’ll be glad to carry out his instructions," WB MD noted.

IFC TO ASSIST ARDSHININVESTBANK IN RISK MANAGEMENT PRACTICES IMPROVEMENT

PanARMENIAN.Net
19.10.2009 13:59 GMT+04:00

/PanARMENIAN.Net/ International Financial Corporation (IFC), a member
of the World Bank Group, signed an advisory services agreement with
Armenia’s Ardshininvestbank to help improve the bank’s risk management
practices and increase lending to smaller businesses.

The agreement is part of IFC’s broader regional crisis-response
initiative focused on strengthening the banking sector to make it
more sustainable.

Ardshininvestbank is among the top three banks in Armenia and
has an extensive branch network. In light of the recent financial
crisis, IFC is helping the bank enhance its capacity to deal with
nonperforming loans, mitigate risks, and strengthen its lending to
local entrepreneurs and small and medium enterprises to stimulate
economic development and job creation.

"As a leading Armenian bank, Ardshininvestbank has attached
great importance to risk assessment and management practices
since its establishment," said Karen Balasanyan, Deputy Chairman
of Ardshininvestbank’s Management Board. "We value very much the
cooperation with IFC and are confident that our clients will notice
the impact of advisory services rendered by IFC experts in the near
future."

Thomas Lubeck, IFC Regional Head of the Caucasus, said, "We are
happy to help one of Armenia’s largest banks address the effects of
the global financial crisis and increase the sustainability of its
operations. This should create additional opportunities for economic
growth in the country."