TOTAL NET PROFIT OF RA COMMERCIAL BANKS INCREASED BY 59% PER YEAR TO
$19.6 MLN UPON RESULTS OF FIRST SIXTH MONTHS, 2006
Yerevan, August 1. ArmInfo. The total net profit of RA commercial
banks increased by 59.1% per year and about 6 times for the last four
years and, upon results of the first sixth months, 2006, made up 8.2
bln drams or $19.6 mln.
Upon results of the first sixth months, 2006, the total common revenue
of commercial banks made up 40.3 bln drams ($96.2 mln) and the costs
– 30.2 bln drams ($72.2 mln), as a result of which a balance income
was provided at the rate of 10.0 bln drams ($23.9 mln). The total
revenue increased by 9.6% per year and the costs reduced by 0.02%. By
the volume of total revenue and total costs for the reporting period,
Ardshininvestbank is the leader – 7.1 bln drams ($16.9 mln) and 5.7
bln drams ($13.6 mln), while HSBC Bank of Armenia is the leader by
the balance sheet profit – 1.8 bln drams ($4.3 mln).
According to the ranking of RA commercial banks, prepared by ArmInfo
Agency of Rating and Marketing Information, 20 banks have worked out
of 21 normally functioning banks, in the first sixth months, 2006.
Thus, HSBC takes the first place by the net profit volume – 1.5 bln
drams ($3.5 mln), then Ardshininvestbank comes – 1.1 bln drams ($2.5
mln), the Converse Bank – 955.3 mln drams ($2.3 mln), the ACBA Bank –
702.4 mln drams ($1.7 mln) an the UniBank – 619.3 mln drams ($1.5 mln).
Upon results of the first sixth months, 2006, only one bank, ITB, had
worked at a loss (18.4 mln drams or $43.9 thsd. ). Upon results of the
first sixth months, 2005, the total net profit of commercial banks
made up 5.2 bln drams. The leaders are the HSBC, Ardshininvestbank
and the Converse Bank.

Turkish Troops Shouldn’t Take Part
ArmRadio.am
01.08.2006 18:29
By Harut Sassounian
Publisher, The California Courier
In the past three weeks, hundreds of innocent men, women and
children have been killed and thousands injured on both sides of
the Lebanese-Israeli border. While the bulk of the blame for the
fighting falls on the warring parties, the United States, as the only
superpower, has its share of responsibility in this bloody affair.
The disastrous situation in the Middle East is about to get even
worse, thanks to officials in Washington who have other agendas than
bringing peace to the region. David Ignatius revealed in his July
21 article in the Washington Post that the Bush administration was
considering the deployment of a multinational “stabilization force”
in southern Lebanon, composed of troopsfrom Turkey and several other
countries. Unlike a traditional United Nations peacekeeping force,
this would be a robust peace-enforcement unit that would be ready to
shoot it out with Hezbollah fighters or anyone else in their way.
The United States and Britain, with their forces bogged down in Iraq
and Afghanistan, and unwelcome in Lebanon due to their tendentious
approach to the Middle East conflict, are looking for others to die in
place of their own soldiers. The Turkish Daily News quoted a Washington
analyst stating that sending Turkish troops to Lebanon “involves a
major risk of serious casualties while doing somebody else’s work.”
Turkish leaders, on the other hand, despite the obvious dangers posed
by such an engagement, are eager to send thousands of their soldiers
to the South of Lebanon, not to bring peace, but to extend their
country’s influence far beyond their borders. Turks know that, up
until a century ago, most neighboring countries were a part of the
Ottoman Empire. Unfortunately for the Turks and their Washington
cohorts, the population of these countries also remembers that
infamous Empire, but not so fondly. In addition to Armenians, the
ancestorsof the inhabitants of today’s Lebanon, be they Syrians,
Lebanese, Palestinians or Kurds suffered untold deprivations and
outright massacres under the repressive Ottoman regime.
Of particular concern is the appearance of Turkish troops in a
country with a sizable Armenian population, the direct descendants
of the 1.5 million Armenians massacred and expelled during the 1915
Genocide. In the 1970’s and 80’s there were scores of attacks by
young Lebanese Armenians against Turkish diplomats in Lebanon and
elsewhere. Bringing thousands of Turkish troops inthe proximity of a
large Armenian community for the first time since 1915 contains all
the ingredients of a bloody clash in the making. In the process of
trying to quell one conflict, the Bush administration is sowing the
seeds of future new confrontations.
In addition, most Arabs do not look too kindly at the strategic
alliance between Israel and Turkey. These two countries along with
the United States conduct periodic joint military exercises. Another
complicating factor is that the Turkish soldiers and people in southern
Lebanon belong to two different, often rival Islamic sects. The Turks
are Sunni, while the Hezbollah fighters and their followers are Shia.
Fortunately, not everyone in Turkey is as eager as Prime Minister Recep
Tayyp Erdogan to send Turkish soldiers to southern Lebanon. Several
opposition leaders were quoted as saying that Turkey should not enter
“such a swamp.”
An international force is probably necessary to maintain the peace on
the Lebanese-Israeli border, but does it have to include a Turkish
contingent? There are plenty of other countries that could send
troops to Lebanon without risking a confrontation with the local
population. If the United States andIsrael are so enamored with
Turkish soldiers, they can station them on the Israeli, rather than
the Lebanese side of the border!
As there are several Armenians in the Lebanese cabinet and parliament,
they should ask their government to reject the participation of Turkish
troops in the proposed multinational force. Such a force cannot be sent
without the approval of the Lebanese authorities. When Turkey offered
to contribute troops to the coalition in Iraq, the Iraqi government,
despite pressure from Washington, refused to accept them, in order
to avoid clashes between Turkish soldiers and Iraqi Kurds.
It is simply unacceptable that in the pursuit of their political
agendas, the neo-cons in Washington encourage sending Turkish
troops to Lebanon. The international community should not allow such
irresponsible action that would perpetuate the conflict in the Middle
East rather than bring peace and stability to the region.

TIGRAN SARGSYAN’S DOOMSDAY IN HEAVEN AND ON THE EARTH
Lragir.am
01 Aug 06
It is worthwhile to congratulate the president of the Central Bank of
Armenia. The experts of the IMF have forecast a 30-35 percent decline
in the exchange rate of the dollar on the international market. For
the Central Bank of Armenia, this is another opportunity to wash their
hands. First one can speak about the everlasting relation between
Armenia and the international financial market and then go on to
explain that the exchange rate of the dollar cannot help declining
in Armenia if it does in the entire world. On the other hand, the
Central Bank is so independent that it does not need the forces of
the international market to explain the behavior of the dollar in
Armenia. Tigran Sargsyan can do without these to explain perfectly why
the revaluation of the dram against both the dollar and the euro goes
on. Moreover, Tigran Sargsyan is so independent that he even declines
to explain anything. And the citizens do not demand an explanation,
realizing that he is too independent. What can an independent person
explain? And Tigran Sargsyan appears to have found the formula of
happiness. The problem is, however, that not everything starts and
ends with happiness. There will always be something to demand from
a public official and if the demanders are not the citizens, it is
surely the end.
The citizens are right when they do not demand explaining one nuance
or another of the behavior of the dollar, the dram or another means
of payment. The citizens are well aware that an independent person
does not have anything to do with them, even if his position suggests
it. A citizen understands that someone else should be asked for an
explanation. And this someone else is sure to demand an explanation
from the Central Bank soon. Of course, again it will not be related to
the financial market. They will demand that Tigran Sargsyan explain how
he is independent in a country where hardly any independence is left.
It will be very difficult for the president of the Central Bank. It
is even difficult to explain how it happened that everything is O.K.
with him, and he is still independent. It will be difficult because
a situation has occurred in the republic when they demand explanation
but they have no time to listen to the explanation. As the president
of the council of the Patriarchal Diocese of Ararat, the president of
the Central Bank should have a clear idea of this state. It is written
that thou shalt not swear, let what you say be yes or no. But the whole
tragedy of the situation is that “yes” told to one will be equal to
“no” told to another. In other words, the yes will be not exactly yes,
and the no will be not exactly no. Certainly, Tigran Sargsyan could
have said that he is not independent, the dollar is independent. But it
would already be swearing in a situation when he will be urged to break
all his previous oaths. In other words, Tigran Sargsyan may be judged
by both the heavenly and the earthly authorities. Being president
of the diocese council may increase the possibility of God’s mercy,
but at the same time, it will diminish the chance to be a president
of the Central Bank. After all, the Ararat Diocese is not necessarily
closer to God than the same Central Bank. Consequently, all Tigran
Sargsyan can do is not to miss the chance with the government. Under
these circumstances, the situation becomes complicated, and time
elapses faster than the “fluctuating” exchange rate of the dollar.
Where is the government with which Tigran Sargsyan should look for the
chance, the Republican Party led by Serge Sargsyan or Robert Kocharyan,
who has kept Tigran Sargsyan president of the Central Bank so far, but
who will have to bid farewell formally to power in 2008? Formally,
but Tigran Sargsyan knows for sure what formal and informal means in
Armenia. Even if he did not know, he learned during the meeting of the
National Assembly, when one of the oppositionist members of parliament
shouted abuse at Tigran Sargsyan without feeling shy. The point is
that it takes 5 minutes from this parliamentarian to become one of
the “trinity” on the party ticket of Bargavach Hayastan Party. Hence,
it happened so that Robert Kocharyan’s team in the parliament swore
at him, whereas the Republicans defended him. Or maybe they did not
defend him if Tigran Sargsyan decided to go and come to an arrangement
with the parliamentarian, at least to persuade him that even if one
does not love his neighbor, it is not worthwhile to be so rude.
Therefore, one should at least know who their neighbor is. And this
is what they are doing in the government now. Moreover, what they
demand now is not an “informal” but rather a definite and clear
neighborhood. Especially for an organization, which controls a
country’s finance, this “neighborhood” is not only desirable but
also necessary. Moreover, considering that the World Bank controls
the influx of finance alone, “neighborhood” with the Central Bank
means control over the financial influx. Consequently, it appears
that the importance of Tigran Sargsyan in the struggle within the
government grows. It means, however, that something will diminish in
return. The degree of importance is such that it won’t grow unless
something diminishes. Well, what would be more suitable to get to go
down? Maybe the exchange rate of the dollar? Especially that there are
a number of people inside the government who love the dollar. Hence,
love is sex, two sexes are a child.
JAMES HAKOBYAN

LIFE PRISONERS ARE DISSATISFIED
Lragir.am
01 Aug 06
The working group of the Office of the Defender of Human Rights of
Armenia met July 31 with a group of life prisoners at the Nubarashen
jail. The office of the ombudsman undertook this visit on learning
that life prisoners went on a hunger strike in a protest against the
conditions of the penitentiary. The office of the defender of human
rights told the news agency ARKA that during the meeting these life
prisoners complained of their verdict, as well as the way they are
treated in the penitentiary.
Taking into consideration the complaints, the leadership of the
penitentiary of Nubarashen was instructed to improve the situation,
namely guarantee regular medical aid, rest, as well as objects of
everyday use.
The warden of the penitentiary of Nubarashen Aram Sargsyan promised
to try his best to eliminate these problems. And the working group of
the office of the defender of human rights will assess the situation
during the next visit to the penitentiary.

OSCE Minsk Group co-chairmen to discuss Karabakh in Paris
Interfax News Agency
Russia & CIS Military Newswire
August 1, 2006 Tuesday 2:55 PM MSK
BAKU Aug 1
Deputy U.S. Assistant Secretary of State for European and Eurasian
Affairs Matthew Bryza, a co-chairman of the Organization for Security
and Cooperation in Europe (OSCE) Minsk Group, is leaving Baku for
Paris on Tuesday to meet with his colleagues from Russia and France.
I came here as a co-chairman to listen to the opinions of Azerbaijani
President Ilham Aliyev and Azerbaijani Foreign Minister Elmar
Mamedyarov, Bryza said after talks with the authorities of the
Azerbaijani Foreign Ministry, adding that he was leaving for Paris
on Tuesday to meet with the other co-chairmen.
Bryza visited Azerbaijan and Armenia, where he listened to the opinions
of the parties to the Nagorno-Karabakh conflict on the settlement.
Baku lost control over Nagorno-Karabakh and seven adjacent districts
in a bloody conflict with Armenia in the 1990s. The conflict sent
some one million Azerbaijanis fleeing to seek refuge.
The co-chairmen of the OSCE Minsk Group from the United States,
Russia and France are involved in efforts to settle the conflict.

STATISTICS: 377 TAX-RELATED ABUSES RECORDED IN ARMENIA IN JAN-JUNE 2006
Arka News Agency, Armenia
Aug 1, 2006
YEREVAN, August 1. /ARKA/. National Statistical Service of Armenia
reported Monday referring to State Tax Service’s figures that 377
tax-related abuses were recorded in Armenia in Jan-June 2006. This is
76.9% greater, compared with the same period of 2005. According to
the report, prosecutor offices have instigated criminal cases on 35
of the recorded offences, declined instigating cases on 7 abuses and
29 cases were sent to State Tax Service for scrutiny. As many as
578 wrongdoers were recorded in connection with the abuses and as
much as AMD 147.2mln were brought back to the state budget. ($1 –
AMD 415.32). M.V.
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Arkadi Ghukasian: “Minsk Group knows Karabakh settlement is
impossible without Khankendi participation”
Today, Azerbaijan
Aug 1, 2006
“Of course, one of the items discussed was Nagorno Karabakh
participation in the talks and I think Mr Bryza, like the other
mediators, understands that it’s impossible to resolve the conflict
without Karabakh,” head of separatist regime acting in occupied
Azerbaijani lands Arkady Ghukasian said after the meeting with OSCE
Minsk Group U.S. Co-chair Matthew Bryza.
Ghukasian said he presented the separatist regime position on the
various aspects of the problem.
“Certainly I cannot reveal all the details of the talks. It’s clear
that our position differs from the approaches proposed by the mediators
but I have not heard any serious objections,” he said.
When touching upon the proposals promulgated by the mediators,
Ghukasian said he cannot analyze the whole package of proposals,
APA reports.
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AZERBAIJAN-TATARSTAN INTERGOVERNMENTAL COMMISSION HOLDS FIRST MEETING
AzerTag, Azerbaijan
Aug 1 2006
Prime Ministers Artur Rasizade of Azerbaijan and visiting Rustam
Minnikhanov of Tatarstan (Russia) today in Baku presided over the first
meeting of the Azerbaijan-Tatarstan Intergovernmental Commission on
trade, economic, scientific, technical and cultural cooperation.
In his opening remarks the Azeri Premier said Azerbaijan attaches
great importance to development of relations with Russian federation
not only at federal level but also at the level of its subjects.
He pointed out that trade between Azerbaijan and Tatarstan which
totaled $35.5 million last year, reached the volume of $25.7 million
over the first six months of the current year that 3.4 times more
than for the corresponding period of 2005.
Speaking of the global energy projects being implemented in Azerbaijan,
Prime Minister Rasizade stressed the country’s intention to develop
its non-oil sector, as well. He said Tatarstan’s experience in this
field would be very useful for Azerbaijan.
Touching upon the Armenia-Azerbaijan, Nagorno-Karabakh conflict,
the Premier said Armenia takes a non-constructive stance as for the
issue of peaceful resolution of the problem.
Prime Minister of Tatarstan Rustam Minnikhanov said his republic is
ready to cooperate with Azerbaijan in both trade and economic and
humanitarian field. He also expressed Tatarstan’s interest in creation
of petrochemical and oil refinery joint ventures with Azerbaijan.
The meeting ended with signing a protocol reflecting prospects of
bilateral cooperation in trade, economic, scientific, technical and
cultural cooperation.
After the meeting, the two premiers answered questions from
journalists. They said, in particular, at this first meeting members
of the intergovernmental commission had agreed on opening in Baku of
the service center of the truck production plan KamAZ, implementation
of joint projects in the field of petrochemistry, machine-building,
and oil-field equipment.
From: Emil Lazarian | Ararat NewsPress

Azeri delegation held monitoring in Shusha prison
TREND Information, Azerbaijan
Aug 1 2006
During the visit to Armenia and Nagorno-Karabakh, the delegation headed
by the chairman of Azerbaijan National Committee of Helsinki Citizen
Assembly Arzu Abdullayeva held several meetings, Trend reports with
reference to the National Committee.
>>From 25 to 31 July, the Azerbaijani delegation paid a visit to
Armenia and Nagorno-Karabakh. During the visit, the delegation
participated at the international conference held in Khankendi in
relation with the captives, lost persons and prisoners, as well as
conducted monitoring in places where Azerbaijani captives were kept
(Shusha prison).
Abdullayeva noted that in connection with the visit, information
is disseminated in the local press, which doesn’t correspond to
the realities. She stressed that the information aims to divert the
attention of the public from peaceful solution of Nagorno-Karabakh
conflict.
On August 3, Abdullayeva will hold a press-conference dedicated to
the results of the visit and make clear all questions.

Azeri diplomat: “Question of borders’ opening with
Armenia is outside Gars municipality’s competence”
Today, Azerbaijan
Aug 1 2006
“Borders between Turkey and Armenia might be opened within three
terms. Turkish President, prime minister and parliament leader have
announced these terms for several times.
“For opening of the borders Armenia should withdraw from alleged
genocide claims, refuse territorial claims against Turkey, and free
occupied Azerbaijani territories,” Consul-General of Azerbaijan in
Gars has informed APA.
Expressing positive attitude to Gars municipality head Naif
Alibayoghlu’s opinion on necessity of opening of borders, Hasan
Zeynalov said that, there are forces in Turkey that are interested
in the opening of borders with Armenia.
It should be noted that Gars municipality’s head stated necessity
of opening of borders with Armenia in his interview given to Turkish
Daily News. He stressed that opening of borders will not only serve
development of Gars from economical view point, but also will be cheap
and reliable road for Turkish exporters for bringing their goods to
Middle Asia and Far East markets.
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