CBA RECOGNIZES RENAISSANCE INSURANCE’S LICENCE AS INVALID
Noyan Tapan
Aug 30 2006
YEREVAN, AUGUST 30, NOYAN TAPAN. Taking into account the fact that
Renaissance Insurance company’s operating licence was suspended twice
in 2006, the Central Bank of Armenia (CBA) Board on August 29 made
a decision to cancel Renaissance Insurance’s licence No. 0045 for
non-life insurance and licence No.0007 for life insurance. According to
the CBA press service, in order to protect the interests of insurees,
Renaissance Insurance must terminate the insurance (reinsurance)
contracts signed by the company or transfer insurance (reinsurance)
risks to another insurer within 45 days after the above mentioned
decision has taken effect. In accordance with Article 17, part 2
of the RA Law on Insurance, the natural and juridical persons that
signed insurance (reinsurance) contracts with Renaissance Insurance,
have the right to teminate these contracts ahead of time, following the
indicated decision, and receive insurance (reinsurance) premiums for
incompleted days. In the event that part of insurance (reinsurance)
premiums cannot be repaid by the company, the insurees may apply to
court with the request to confiscate these sums or recognize the
company as insolvent. In case of accidents, Renaissance Insurance
is obliged, by preliminary consent of the CBA, to pay insurance
compensations envisaged by insurance (reinsurance) contracts, whose
risks have not been transferred to another insurer.

CBA RAISES REFINANCING INTEREST RATE TO 4.5%
Noyan Tapan
Aug 30 2006
YEREVAN, AUGUST 30, NOYAN TAPAN. At the August 29 sitting, the Central
Bank of Armenia (CBA) Board raised the repo interest rate by 0.25%
to 4.5%. This was the third step of such kind this year – in January,
the refinancing interest rate was raised from 3.5% to 4%, in late
July – to 4.25%. The CBA explains its decision by the necessity to
curb the possible high rates of inflation.
According to the CBA press service, the CBA Board takes a view that
registration of a two-digit economic growth is quite realistic this
year, but the previously indicated inflation risks have appeared
and will most probably continue. Among external environment risks,
the most notable one is an expected growth in international prices of
raw materials, oil and metals. Among domestic risks, the CBA pointed
out the decline in the agricultural sector, as a result of which the
seasonal fall in the prices of fruit and vegetables was less than
expected. At the same time, according to the same source, since 2006,
the continuous income growth has already had its effect on inflation
in such sectors as services and non-food commodities, which, by the
CBA’s estimates, will continue in the near future. The CBA Board
also attaches importance to the fact that considerable budgetary
expenditures envisaged in late 2006 will be conducive to inflation,
which will become evident in the first half of 2007.
According to the CBA, due to the above mentioned factors, inflation
within the next 12 months will exceed the maximum annual target index
of 3%. For that reason, the CBA does not rule out that it will againt
change interest rates in the coming months.

INFORMATION ABOUT PARTICIPATION OF CHINA AND KAZAKHSTAN IN KARS-TBILISI-BAKU RAILWAY PROJECT NOT CONFIRMED OFFICIALLY
Noyan Tapan
Aug 30 2006
YEREVAN, AUGUST 30, NOYAN TAPAN. Speaker for the RA President
Victor Soghomonian failed to receive any “official confirmation”
that China and Kazakhstan intend to participate in the construction
of Kars-Tbilisi-Baku railway. He stated this at the August 30 press
conference. In response to a question of NT correspndent about official
Yerevan’s attitude to the participation of China and Kazakhstan in
the indicated construction project, V. Soghomonian said that “it
is worth waiting a bit and then watching the developments to take
place.” He reminded that official Yerevan has repeatedly expressed
its negative position and concerns about the project. “If there
are developments in the future as well, we’ll not keep silent,” he
pointed out. To recap, in his recent interview with the newspaper
“Zaman”, the Turkish minister of transport Binali Yeldrum told
about China’s and Kazakhstan’s intention to participate in the
Kars-Tbilisi-Baku railway project. In his words, the “previous
contradiction” between Armenia and Turkey allegedly caused a delay
in this project’s implementation for years on end. In his opinion,
the railway is going to change the current situation in the region
and to improve general conditions there.
“Azerbaijan, Georgia and Turkey are working jointly in order to
overcome all those difficulties that have a negative impact on the
regional economy,” the Turkish minister said. According to him, the
project will establish a direct link between Turkey and Azerbaijan
via Georgia: “The Kars-Tbilisi-Baku railway will link Turkey with
Azerbaijan. It is important that all cargos in the region reach
Europe and Asia through Turkey.” It is noteworthy that many donor
states refused to participate in the Kars-Tbilisi-Baku construction
project on the grounds that in this way Armenia would be isolated
from the regional railway transportation network.

ROBERT KOCHARIAN IS AGAINST 100% PROPORTIONAL ELECTORAL SYSTEM
Noyan Tapan
Aug 30 2006
YEREVAN, AUGUST 30, NOYAN TAPAN. RA President Robert Kocharian is
against 100% proportional electoral system. Victor Soghomonian,
the RA President’s Spokesman stated about it at the August 30 press
conference. He reminded that during the gathering taken place recently
with participation of representatives of the coalition political
forces, an agreement was reached that during the coming parliamentary
elections, 90 deputies are elected by the proportional electoral
system, and 41 ones by the majoritarian electoral system. “The
RA President is against review of agreements: there was a clear
agreement,” V.Soghomonian mentioned. In his words, Robert Kocharian is
against the 100% proportional electoral system also for the reason that
the political field of Armenia is imperfect, and in those conditions,
“it will be wrong to separate a deputy from his direct voters, his
electoral district.” Victor Soghomonian assured that “there is no
conflict” between the RA President and Defence Minister Serge Sargsian,
elected recently the Council Chairman of the Republican Party of
Armenia. According to his estimation, there is no conflict between the
Republican and “Bargavach Hayastan” (Proseprous Armenia) parties, but
there are condradictions and disagreements. V.Soghomonian came to this
opinion by following publications in press and “different speeches.” He
also stated that talks spread in press, concerning criminalization
of the authorities of Armenia, were vain as nobody presented such a
definite fact. Responding a journalist’s question, Victor Soghomonian
emphasized that “as for the moment, there is no question that the RA
President will become a member of this or that party.”
The President’s Spokesman has no intention to join any party, either,
as “the RA President’s staff will be non-partisan as long as Robert
Kocharian is the RA President.”

ARMENIA NOT TO PARTICIPATE YET IN PEACE-KEEPING MISSION IN ISRAELI-LEBANESE CONFLICT ZONE
Noyan Tapan
Armenians Today
Aug 31 2006
YEREVAN, AUGUST 31, NOYAN TAPAN – ARMENIANS TODAY. Armenia is not
going at present to send a formation to the Israeli-Lebanese conflict
zone to implement peace-keeping mission. Victor Soghomonian, the RA
President’s Press Secretary stated about it at the August 30 press
conference. In his words, the first reason for Armenia’s not taking
such a step is that the mandate of peace-keeping forces, the circle
of their actions, is not finally defined yet.
According to Victor Soghomonian’s estimation, that step will create
additional difficulties, especially when it’s clear that “the Armenian
formation may not have a serious role near formations of other
countries.” On the other hand, in his words, “the Republic of Armenia
should be concerned with interests of Lebanese Armenia Diaspora
of great number, understanding that the Armenian peace-keepers’
participation in different clashes may arise problems for the
Armenian community.” “Official Yerevan is simply ought to think of all
these. This arises the decision which exists today: the peace-keeping
forces of Armenia will not participate yet in the peace-keeping mission
in the Islaeli-Lebanese conflict zone,” the RA President’s Spokesman
emphasized. To recap, formations of Armenia participate at present
in the peace-keeping mission being implemented in Kosovo and Iraq.

ANDRANIK MARGARIAN CONGRATULATES ROBERT KOCHARIAN ON OCCASION OF 52TH BIRTHDAY ANNIVERSARY
Noyan Tapan
Aug 31 2006
YEREVAN, AUGUST 31, NOYAN TAPAN – ARMENIANS TODAY. RA Prime Minister
Andranik Margarian congratulated President of the Republic of Armenia
Robert Kocharian on the occasion of the 52th birthday anniversary. As
Noyan Tapan was informed by the Government’s Information and Public
Relations Department, the Prime Minister wished the country head sound
health, sucesses in his high and responsible work and happiness in
his private life.

NATIONAL ASSEMBLY SPEAKER CONGRATULATES RA PRESIDENT UPON 52ND BIRTHDAY ANNIVERSARY
Noyan Tapan
Armenians Today
Aug 31 2006
YEREVAN, AUGUST 31, NOYAN TAPAN – ARMENIANS TODAY. RA National Assembly
Speaker Tigran Torosian sent a congratulation message to RA President
Robert Kocharian, on the occasion of his birthday. The message,
submitted to Noyan Tapan by the NA Public Relations Department, says:
“Dear Mr.President I warmly congratulate You upon the 52nd birthday
anniversary. I am sure that Your devotion and will which were decisive
for the fatal period of time for our country, will from now on as well
serve for development of our Fatherland and for justice solution of
the Nagorno Karabakh problem. Congratulating again, I wish You good
health, happiness, successes.”
From: Emil Lazarian | Ararat NewsPress

“SHOUSHI” ELECTRONIC SCIENTIFIC-POPULAR JOURNAL OPENS IN INTERNET SITE OF “SHOUSHI” CHARITY FUND
Noyan Tapan
Aug 30 2006
YEREVAN, AUGUST 30, NOYAN TAPAN. The “Shoushi” electronic
scientific-popular journal opened in the interner site ()
of the “Shoushi” charity fund. It functions by the on-line regime. The
goal of the magazine is, by using archive documentaries, ancient
resources, to present the history, culture of Artsakh, political,
economic developments taking place around the NKR, etc. In
words of Bakur Karapetian, the editor-in-chief of the journal,
a writer-publicist, one of the goals of the magazine is to support
mutual understanding and reconciliation of the peoples living in
the region, establishment of peace, implanting of democracy. The
magazine is opened with the materials of the conference taken place in
Stepanakert in July by the fund’s complex program “On Study of Cultural
Heritage of Fortress City Shoushi and its Surroundings, Development
of the City. The “Shoushi” scientific-popular magazine is ready to
publish materials of foreigners, including of Azeri or Turk authors,
if they are not aimed to spread enmity among the peoples. To recap,
readers may make use of site as well.

RA PRESIDENT DOES NOT PARTICIPATE IN SILVA KAPUTIKIAN’S FUNERAL FOR THE REASON NOT TO ARISE PROBLEMS BY DEFENCE SERVICE DURING BURIAL RITES
Noyan Tapan
Aug 31 2006
YEREVAN, AUGUST 31, NOYAN TAPAN. The RA President almost does not
participate in burial rites as the country head’s participation in
similar events demands implementation of a number of events by the RA
President’s defence service what may arise some problems during those
rites. RA President’s Press Secretary Victor Soghomonian stated about
it at the August 30 press conference, explaining why RA President
Robert Kocharian refused to participate in Armenian eminent poetess
Silva Kaputikian’s funeral.

ARMENIAN AMERICAN LEADERSHIP OPPOSES DEPLOYMENT OF TURKISH FORCES IN LEBANON
Noyan Tapan
Armenians Today
Aug 31 2006
WASHINGTON, AUGUST 31, NOYAN TAPAN – ARMENIANS TODAY. Armenian
Apostolic, Catholic and Evangelical churches in the United States
were joined by leading grassroots Armenian American organizations in
urging President Bush to oppose the deployment of Turkish forces within
Lebanon as part of an international peacekeeping operation. According
to the Armenian National Committee of America (ANCA), in a letter sent
to the White House on August 30, the community leaders stressed that,
“Turkey’s record of genocide, massacres, aggression and torture
is deeply inscribed in the collective memory of the Lebanese, the
Armenians, the Greeks, the Cypriots, the Kurds and the Arab people
everywhere.
Far from being a credible peacemaker, Turkey carries heavy liabilities
that would only complicate an already complex peacemaking mission
that the U.S. must pursue in Lebanon and the region.” The following
Churches and community organizations participated in this initiative:
Armenian Catholic Exarchy of the United States and Canada, Armenian
Missionary Association of America, Prelacy of the Armenian Apostolic
Church, Eastern U.S., Prelacy of the Armenian Apostolic Church,
Western U.S., Armenian American Democratic Leadership Council, Armenian
National Committee of America, Armenian Relief Society, Armenian Youth
Federation, Hamazkayin Armenian Cultural and Educational Society,
Homenetmen Armenian General Athletic Union, National Organization of
Republican Armenians. The leadership of the Lebanese Armenian community
unanimously and forcefully opposes the introduction of Turkish troops
onto Lebanese soil. Earlier this month, the three Armenian political
parties in Lebanon, namely the Armenian Revolutionary Federation,
the Social Democratic Henchakian Party, and the Armenian Democratic
Liberal Party, issued a joint declaration expressing the collective
opposition of Lebanese Armenians to any Turkish participation in
peacekeeping operations. An appeal against the introduction of Turkish
forces was also released by Lebanon’s Armenian religious leadership,
comprising the Armenian Apostolic, Armenian Catholic, and Armenian
Evangelical communities.
His Holiness Aram I, Catholicos of Cilicia, earlier this week wrote
a letter to Kofi Annan, Secretary General of the United Nations,
expressing opposition to the deployment of Turkish forces in
Lebanon. In a powerfully worded letter he addressed Turkey’s ongoing
use of aggression and genocide, describing Turkish participation in
a peacekeeping mission as “morally unacceptable.” The opposition of
the Greek American community to the inclusion of Turkish forces in
Lebanon’s peacekeeping operation was communicated to the President
last month in a letter from the American Hellenic Institute.