TIGRAN TOROSIAN: PACE RESOLUTION WILL HELP TO PUT AN AND TO SPECULATIONS OF AZERIS
Noyan Tapan
Armenians Today
Apr 17 2006
YEREVAN, APRIL 17, NOYAN TAPAN – ARMENIANS TODAY. The Resolution
adopted on April 13 at the plenary sitting of PACE on issues on
refugees and forcibly displaced people in Armenia, Azerbaijan
and Georgia will permit to put an and to the speculations
of Azerbaijan. Head of the PACE Armenian delegation, RA NA
Vice-Speaker Tigran Torosian expressed such an opinion at the
April 17 press conference touching upon the discussion of the issue
immediately concerning Armenia at April 10-13 PACE spring session
in Strasbourg. T.Torosian motivated his opinion by the fact that
the adopted document exactly stipulates the data of the UN Supreme
Commissar on issues of refugees, according to which there were a little
more than 83 thousand refugees during the conflict in Azerbaijan and
in late 2004 their number reached 8606. The number of the displaced
persons in Azerbaijan amounted to about 570 thousand people. Whereas,
he emphasized, in the recent years the Azeris have been trumpeting
about existence of 1 mln refugees in the country. He also mentioned
that the attempts of the Azerbaijani delegation to withdraw data not
favorable for them from the report failed. In total, 35 proposals
on the draft Resolution were submitted, 18 of them were submitted by
the Azerbaijani delegation. 5 proposals of editing character out of
the above-mentioned ones were adopted. As a result, the provisions
of the Resolution, according to which refugees can return to places
of their residence remained unchanged. This is a right fixed in the
international documents and not a commitment as the Azeris propose. The
proposal about cooperation among 3 South Caucasian countries for the
purpose of solving the issue of refugees was also preserved in the
document. Azeris spoke against this proposal. Tigran Torosian said
that reporter on the issue, Latvian Deputy Boris Tsilevich in his
speech informed that works connected with refugees are implemented
in Armenia at the high level. Meanwhile he expressed the hope that
if Armenia is provided with the proper international support it will
be able to solve the issue of refugees not within several years but
within only several months.

“NATIONAL GALLERY” SECOND MUSICAL FESTIVAL TO START ON APRIL 20 IN YEREVAN
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. The “National Gallery” second musical
festival will be held from April 20 to June 15. Such world-famous
musician-performers as Vardan Mamikonian (France), Sergei Babayan
(Russia), Svetlana Navasardian and Barsegh Tumanian will take part
in this festival consisting of 8 series of concerts and dedicated to
the 85th anniversary of the Armenian National Gallery. As Noyan Tapan
was informed from the Armenian National Gallery, a concert dedicated
to the 15th session of the Hayastan All Armenian foundation’s board
of trustees and giving of youth prizes of RA President in the sphere
of classical music will be held on May 5, within the framework of
the festival.

FOUR BORDER VILLAGES OF TAVUSH TO BE SUPPLIED WITH NATURAL IRRIGATION WATER
Noyan Tapan
Apr 18 2006
NOYEMBERIAN, APRIL 18, NOYAN TAPAN. Construction of a 27-km
Voskepar-Baghanis-Voskevan-Koti natural irrigation water pipe will
start in a month. Land plots of the total area of 1,100 ha in these
villages will be irrigated thanks to the water pipe with a capacity
of 370 litres per second. Rafael Vardanian, head of the irrigation
system operation unit in Noyemberian, told NT correspondent that the
2.3 mln-dollar program is financed by the International Organization
for Agriculture Development (IFAD).

ARDSHININVESTBANK TO REPLENISH ITS AUTHORIZED CAPITAL BY ABOUT 10 MLN DOLLARS
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. The shareholders of Ardshininvestbank
made a decision to allocate the undistributed profit of 4.5 bln
drams (about 10 mln USD) for replenishment of the bank’s authorized
capital. Chairman of Ardshininvestbank Board Aram Andreasian stated at
the April 18 press conference that as a result of it, the bank will
take first place in the banking system of the Republic of Armenia in
terms of the amount of its authorized capital. The bank’s authorized
capital currently makes 3 bln 20 mln drams, while its overall capital
– about 20 mln dollars. According to A. Andreasian, although thanks
to the policy of the Central Bank of Armenia (CBA), there are no
“unhealthy” bank in the RA banking system, their capitals ans assets
continue to be small. It was noted that the banking system of the
country is undergoing a dynamic development.

FIRST CONSIGNMENT OF NITRIC FERTILIZER DISTRIBUTED TO FARMS IN ARARAT MARZ
Noyan Tapan
Apr 18 2006
ARTASHAT, APRIL 18, NOYAN TAPAN. The spring sowing of 350 ha with
wheat and barley has been almost completed in Ararat marz. 3,400 tons
of nitric fertilizer, which will be sold to farms for 3,700 drams,
was provided by Azotinvest CJSC. The first consignment (2,300 tons)
of nitric fertilizer has already been transported to the marz and
distributed to farms.

LEGISALTION ON CORPORATE GOVERNANCE SYSTEM IN NEED OF AMENDMENTS
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. The legislation on introduction of a
corporate governance system in the RA banking system is in need of
amendments and additions. Chairman of Ardshininvestbank Board Aram
Andreasian expressed this opinion at the April 18 press conference. In
his words, the banking system is a sector that operates in the most
transparent way, while the introduction of corporate governance is
aimed at reducing the shadow sector of the economy.
This means that it would be more expedient to introduce the corporate
governance principles first of all in other sectors of the economy. At
the same time, A. Andreasian noted that as a whole the introduction
of a corporate governance system is to be welcomed, and the Central
Bank of Armenia (CBA) and commercial banks have reached a mutual
agreement on a number of isssue.
From: Emil Lazarian | Ararat NewsPress

ARDSHININVESTBANK’S NET PROFIT GROWS BY 56.9% IN 2005
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. In 2005, Ardshininvestbank showed an
unprecedented growth in all its indices, taking first and second
places by these indices in the RA banking system. Chairman of
Ardshininvestbank Board Aram Andreasian said during the April 18
press conference that in the year under review, the bank’s assets
grew by 42% on 2004 and amounted to 54.3 bln drams, which made up
12.04% of the overall assets of the RA banking system. The overall
capital of Ardshininvestbank grew by 63.3% to 88.8 bln drams,
while its liabilities – by 38.5% to about 45.4 bln drams. The net
profit of the bank increased by 56.9% to 2.3 bln drams. The credit
investments of Ardshininvestbank made 25.2 bln drams in 2005,
which exceeds the respective index of the previous year by about
35%. A. Andreasian pointed out a considerable growth in the amount of
consumer credits. Only in Ardshininvestbank, these credits grew by 23%
in the year under review and made 9.4 bln drams. According to him,
it shows that the financial position of 30-35% of the population has
improved. It was noted that the bank ranks first by the amount of time
deposits attracted from natural persons and legal entities, which,
in the words of A. Andreasian, is indicative of the population’s trust
in the bank. Addressing the problem of high interest rates of credits,
A. Andreasian said that the prices of financial resources has risen on
international markets. At the same time, he assured that despite it,
the interest rates of credits continue to decline in Armenia.
By the results of 2005, Ardshininvestbank was the biggest tax payer
– bank.
The bank paid taxes of a total of about 1 bln drams (about 2.22 mln
USD) to the state budget. Ardshininvestbank has 49 branches (two in
the Nagorno Karabakh Republic) and an office in Paris.

RA PRESIDENT EXPECTS TAX SERVICE TO CARRY OUT CONSISTENT WORK FOR SOLUTION OF EXISTING PROBLEMS
Noyan Tapan
Apr 18 2006
YEREVAN, APRIL 18, NOYAN TAPAN. During the April 18 working meeting of
the RA President Robert Kocharian and Head of the State Tax Service
Felix Tsolakian, the results of the first quarter, as well as issues
related to reduction of the shadow sector in mining industry and
construction, the fight against false customs clearing and goods
for deals were discussed. According to the data presented by Felix
Tsolakian, this quarter the tax revenues of the state budget made 43.2
bln drams, exceeding the index of the same period of last year by 8
bln drams (about 17.8 mln USD). Profit tax and income tax accounted
for a large share of the tax revenues. A growth in social payments
was registered as well. 15.3 bln drams was collected in the first
quarter, which exceeds the respective index of last year by 2.4
bln drams. Presenting the process of carrying out the President’s
instructions regarding reduction of the shadow sector in mining
industry and construction, F. Tsolakian said that an increase in
revenues of these spheres was registered in the first quarter.
Particularly, the revenues from the non-metal mining industry made
700 mln drams against 400 mln drams collected in the first quarter
of 2005. Speaking about the programs to be implemented, he noted
that the Tax Service is now making up a list of organizations,
whose transactions and taxes paid are not consistent with their
activities. As regards false customs clearing and goods for deals, F.
Tsolakian noted that over the last three months they filed 45
materials to the prosecutor’s office, based on 19 of which criminal
cases were opened. The problem of property and income declaration
was also addressed during the meeting. R. Kocharian pointed out
the necessity for legislative regulation of this problem and use of
clear mechanisms of responsibility. According to the RA President’s
press service, Robert Kocharian gave new instructions regarding the
problems discussed. He said that he expects the Tax Service to carry
out consistent work for solution of the existing problems.

NKR PRESIDENT PROPOSES SETTING UP INDEPENDENT STATE BODY ON PROTECTION OF ECONOMIC COMPETITION
Noyan Tapan
Apr 18 2006
STEPANAKERT, APRIL 18, NOYAN TAPAN. Issues related to the formation
of a legal field on protection of economic competition and the
development of application mechanisms were discussed during the April
18 consultation conducted by the NKR President Arkady Ghukasian with
the participation of the NKR Defence Minister, Prime Minister, Head
of the NKR President’s Staff and other high-ranking officials, who
presented the approaches of the NKR legislative and executive power
branches concerning the issue. As regards the fact that the NKR Law on
Protection of Economic Competition was returned to the parliament, A.
Ghukasian noted that he intends to send a letter to the National
Assembly, making a proposal to examine the concept of ensuring
economic competition through an independent state body. He underlined
the necessity of conducting a clear state policy aimed at protecting
economic competition and expressed a hope that the parliament will
accept his proposal.

SPRING AGRICULTURAL ACTIVITIES START IN LORI MARZ
Noyan Tapan
Apr 18 2006
VANADZOR, APRIL 18, NOYAN TAPAN. The cultivation of gardens, tree
pruning and sowing of early potato and vegetables has begun in
Tumanian region of Lori marz. The RA Ministry of Agriculture has
allocated 1,700 tons of nitrate at reduced prices (3,700 drams for a
50-kg bag), 250 tons of which has already been provided to the local
peasants. Volodya Buniatian, head of the Agriculture and Environmental
Protection Department of the Lori regional administration, told NT
correspondent that 1,000 ha was sown with spring grain, 3,000 ha –
with vegetables, and 6,000 ha is under fodder crops.
–Boundary_(ID_BREimxNjKZcKrnrFmd8q3g)
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SPRING AGRICULTURAL ACTIVITIES START IN LORI MARZ

VANADZOR, APRIL 18, NOYAN TAPAN. The cultivation of gardens, tree pruning
and sowing of early potato and vegetables has begun in Tumanian region of Lori
marz. The RA Ministry of Agriculture has allocated 1,700 tons of nitrate at
reduced prices (3,700 drams for a 50-kg bag), 250 tons of which has already
been provided to the local peasants. Volodya Buniatian, head of the Agriculture
and Environmental Protection Department of the Lori regional administration,
told NT correspondent that 1,000 ha was sown with spring grain, 3,000 ha –
with vegetables, and 6,000 ha is under fodder crops.
–Boundary_(ID_BREimxNjKZcKrnrFmd8q3g)–
From: Emil Lazarian | Ararat NewsPress