LIABILITIES OF CREDIT ORGNAIZATION IN ARMENIA DECREASE BY 5.3%
YEREVAN, JULY 7. ARMINFO. Total liabilities of credit orgnaization in
Armenia decreased by 5.3% in the second half of 2004, totaling 1.3 bln
drams on July 1, 2004, the CB press-service told ARMINFO.
According to the submitted data, in the structure of total liabilities
of credit orgnaizations, only fixed liabilities of natural persons
grew (21.5%), totaling 223.6 mln drams. Fixed liabilities of legal
entities decreased by 13.9%, totaling 811.4 mln drams. The paid
interests decreased by 41.8%, totaling 8.4 mln drams. Other
liabilities suffered a 5.3% decline, totaling 232.3 mln drams.
According to data of the CB, by July 1, 2004, 7 credit orgnaizations
and 1 branch operated in the territory of Armenia. At the same time,
Express-Universal, SEF-International and Gladzor are universal credit
orgnaizations, ACBA-Leasing and Agrileasing – leasing orgnaizations,
Arfin – credit union and “First Mortgage Company” – mortgage credit
orgnaization.

AGGREGATE ASSETS OF CREDIT ORGNAIZATIONS IN ARMENIA INCREASE TOT 3.6
BILLION DRAMS
YEREVAN, JULY 28. ARMINFO. Aggregate assets of credit orgnaizations in
Armenia increased by 10% in the second half of 2004 totaling 3.6 bln
drams, the CB’s Press-Service told ARMINFO.
According to the submitted data, the growth of the aggregate assets is
accounted for by a 2,804% increase in the crediting of the employees
of credit organizations and mutually-connected persons (22.5 mln
drams). Besides, demands to banks and other financial orgnaizations
increased by 189%, totaling 74.7 mln drams. Crediting of legal
entities grew by 19.4%, totaling 251.2 mln drams, natural persons by
23.7%, totaling 1.3 bln drams. Other assets increased by 115.1%,
totaling 414.9 mln drams. Leasing and factoring operations decreased
by 17.2%, making up 210.3 mln drams. Investments in state securities
decreased by 48.6%, totaling 149.6 mln drams. Cash decreased by 54.7%,
totaling 69.9 mln drams.
At the same time, in the structure of assets, a 20.8% growth of basic
funds was registered (479.6 mln drams on July 1, 2004), the calculated
interests grew by 46.9% (20.9 mln drams), current accounts in banks by
4.9% (441.6 mln drams).
Provision of crediting grew by 9.9% in the second quarter and reached
2.2 bln drams, which was accounted for by an increase in the volume of
crediting of the agricultural sphere by 4.3%, trade sector by 0.5%,
financial sector by 205.2%, on consumer credits by 17.2% and other
branches by 40.6%, which totaled 312.5 mln drams. 110.8 mln drams,
74.5 mln drams. 862.6 mln drams and 234.5 mln drams, respectively. In
the crediting portfolio, a 10.8% decline was registered in the
crediting of the industrial sector, a 1.1% in the sphere of
construction, 4.2% in sphere of transport and communications, which
totaled 497.0 mln drams. 88.8 mln drams and 2.2 mln drams,
respectively.
The credits and receivables classified on risk groups increased by
4.9% in the second quarter of 2004, totaling 2.9 bln drams. As a
result, on July 1, in the structure of crediting portfolio, “standard”
credits totaled 89.8% or 2.6 bln drams, “controlled” credits – 5.7% or
164.3 mln drams, “nonstandard” credits – 1.7% or 50.3 mln drams and
“doubtful” credits – 2.8% or 81.6 mln drams. In the quarter under
review, some 59.6% and 4% was fixed on “controlled” and “standard”
credits respectively. While, some 9.7% and 0.1% decline was fixed on
“nonstandard” and “doubtful” credits, respectively.
According to data of the CB, by July 1, 2004, 7 credit orgnaizations
and 1 branch operated in the territory of Armenia. At the same time,
Express-Universal, SEF-International and Gladzor are universal credit
orgnaizations, ACBA-Leasing and Agrileasing – leasing orgnaizations,
Arfin – credit union and “First Mortgage Company” – mortgage credit
orgnaization.

CREDIT ORGANIZATIONS COMPLETE FIRST HALF OF 2004 WITH 141.9 MLN DRAMS
INCOMES
YEREVAN, JULY 28. ARMINFO. Gross incomes of credit orgnaizations
totaled 799.3 mln drams on July 1, 2004, expenses 656.8 mln drams. The
press-service of the Armenian CB told ARMINFO. As a result, incomes
prevailed over expenses and credit organizations completed the first
half of 2004 with 141.9 mln drams incomes.
In the structure of gross incomes of credit orgnaizations, interest
incomes totaled 274.5 mln drams or 34.3% on July 1, 2004. The share of
noninterest incomes in the structure of gross incomes totaled 12% or
96.3 mln drams. In the structure of gross expenses, interest expenses
totaled 36.5 mln drams or 5.6% on this date, noninterest expenses
233.1 mln drams or 35.5%.
According to data of the CB, by July 1, 2004, 7 credit orgnaizations
and 1 branch operated in the territory of Armenia. At the same time,
Express-Universal, SEF-International and Gladzor are universal credit
orgnaizations, ACBA-Leasing and Agrileasing – leasing orgnaizations,
Arfin – credit union and “First Mortgage Company” – mortgage credit
orgnaization.

MODERNIZATION OF YEREVAN WATER POWER PLANT TO ALLOW TO INCREASE ITS
CAPACITY BY 2 MW
YEREVAN, JULY 28. ARMINFO. The modernization of the Yerevan Water
Power Plant, a part of the Sevan-Razdan Water Power Cascade, will
allow to increase its capacity by 2 MW, says the production manager of
the International Energy Corporation Gari Bagdassaryan.
The plant’s efficiency will be raised by 5%-6% or 72,000 KW/h. The
corporation’s director general Mels Hakopyan says that they have n
news yet whether the German bank KfW will lend money for the 20 mln
EUR project. The talks with the bank are near completion.
To remind, the International Energy Corporation was set up in May 2003
by the YeES Rossii holding for the operation of the Sevan-Razdan
Cascade consisting of 6 water power plants built in 1930-1962. The
planned capacity of the cascade is 556 MW which is only 18% o the
total electricity generating capacity of Armenia.

AZERI POLITOLOGISTS AGAINST CONCESSIONS BY AZERBAIJAN IN KARABAKH PROBLEM
YEREVAN, JULY 28. ARMINFO. The Azeri public and government will reject
any appeals by OSCE Minsk Group for concessions on the part of
Azerbaijan, says the representative of the New Azerbaijan party Aydyn
Mirzazade.
Commenting on the statement by the OSCE MG US co-chair that Azerbaijan
and Armenia should be ready to concessions Mirzazade says that Mann
knows the region better than the other two co-chairs and one should
not neglect a statement by such a man. However Mirzazade excludes the
possibility of territorial concessions on Azerbaijan’s part “otherwise
the world will witness the beginning of a negative tradition.” So
Mann’s statements should not be addressed to Azerbaijan but to
Armenia. It turns out that for MG the rights of 50,000 Armenians of
Karabakh are superior to those of 8 mln Azeris, says Mirzazade.
Politologist Eldar Namazov says that one should clarify the compromise
issue once and for all. He says that MG, international organizations
and Armenia resort to political speculations in the issue. Azerbaijan
has already offered the Karabakh Armenians a high autonomy status and
there can be no bigger compromise.
The director of the Center of Political Innovations and Technologies
Mubariz Ajgmedoglu says that Azerbaijan has already exhausted the
limit of concessions and any further ones would go against the
international law. The OSCE mediation is near total failure – there
are two ways out: mutual concessions and common positions which will
give MG the moral right to continue its mediatiion – or on the eve of
the OSCE Summit MG should raise the issue for enhancing its status and
enlarging its powers.

Azer News, Azerbaijan
July 29 2004
President dismisses another minister

President Ilham Aliyev has dismissed the National Security Minister
Namig Abbassov. The presidential order did not give any reason for
sacking Abbasov. He is the third minister to have been fired by
Azerbaijan’s 42-year-old president. Earlier this year, Aliyev sacked
the ministers for communications and foreign
affairs. Any changes in the government are closely watched in
Azerbaijan, where, according to analysts, reformers led by President
Aliyev are engaged in a behind-the-scenes power struggle with
conservatives inside the government. Abbassov is one of the biggest
figures to lose his job in Azerbaijan since Aliyev succeeded his
father, Heydar Aliyev, as president late last year.
The outgoing minister had served under Heydar Aliyev since 1994 and
was widely seen as a key figure in the ruling elite. The minister is
to be replaced by Eldar Mahmudov, a senior official from Azerbaijan’s
interior ministry. Mahmudov, born in Nakhchivan’s Sharur region in
1956, is a police colonel and has headed the Interior Ministry’s drug
enforcement department since February 2004. Prior to that he headed
the Interior Ministry’s department on combating economic crimes,
which was subsequently abolished. On the same day, the President
granted him the title of General Major. This is the first time for an
Interior Ministry official to serve as national security minister.
The appointment came as a surprise and the reasons behind it are not
clear yet. So far, National Security Ministry workers were
transferred to the Interior Ministry to strengthen this organization,
while presently the opposite is taking place. Some observers explain
this unexpected decision by the successful attempt of Armenian
national Ispir Gazarian to come to Baku from Moscow on July 23.
Gazarian’s identity was verified only after he arrived at the Baku
Airport. Several months ago a similar incident occurred, as two other
Armenians, fleeing the unbearable living conditions in their country,
came to Baku. No explanations were provided to the Azerbaijani public
as to how they succeeded in entering the country. The public
interpreted the two incidents as the weakness in the activity of
national security agencies. Regardless of the reasons for the two
incidents, they explain the President’s intention to reshuffle his
team. As for the future activity of Colonel-General Namig Abbasov, it
remains unclear at this point. The presidential order indicating the
dismissal of Abbasov from the minister’s position did not specify
whether he will still head the state commission on POWs, hostages and
missing persons. Unconfirmed reports suggest that Abbasov, while
visiting a European country, was unaware of his dismissal until the
presidential decree was issued. Foreign Minister Vilayat Guliyev was
dismissed in a similar manner. Abbasov was one of the only
Azerbaijani officials appreciated by the public. After the last
presidential election Abbasov refuted the statements by some members
of the ruling elite that secret services from some Western countries
were involved in the October 2003 developments, which ultimately
targetted a coup d’etat. Shortly before and after the presidential
election the then Minister Abbasov tried to remain impartial in the
unfolding internal political struggle. Undoubtedly, in the present
situation in Azerbaijan, any attempt of a government official to be
independent is not encouraged by the higher leadership. In short,
Abbasov had a lot of opponents both in and outside Azerbaijan. Their
number further increased after his explicit statement about the
presence of PKK units in Azerbaijan. Official Moscow and Tehran were
interested in the dismissal of Abbasov, as he was widely known for
his pro-Western position. On many occasions, he made anti-Russian and
anti-Iranian statements. However, Abbasov may be offered another
position, for instance, the post of the security council secretary to
the President. Besides, the President is also likely to fire the
current Interior Minister Ramil Usubov soon. The latter’s position is
likely to be taken by the chief of Surakhan district police
department Etibar Gazibayov. Namig Abbasov’s dismissal came as a
surprise to many analysts who predicted changes in the government
agencies. The ex-minister was one of the last officials included into
the president’s “black list”. The unexpected dismissal of Abbasov
also signals that other key figures in the government hierarchy may
also lose their job in the foreseeable future…

Glendale News Press
LATimes.com
July 29 2004
Gang leader gets 10 years

Gunman who pleaded no contest to shooting will also have to pay $23K
for crimes. Streets safer since his arrest, police say.
By Gary Moskowitz, News-Press
PASADENA – Glendale Police officers were pleased Wednesday to see a
Los Angeles Superior Court judge order Arman Sharopetrosian to pay
about $23,000 in restitution for a gang-related shooting.
But even more than that, the officers say they value the fact that
Sharopetrosian, 26, is serving a 10-year sentence in state prison,
because the rate of shootings in Glendale has gone down since the
reputed gang boss began serving time.
And, a prominent local Armenian gang is now without one of its top
members who was allegedly involved in at least three major
gang-related shooting incidents in the 1000 block of Linden Avenue in
Glendale in 2002, Glendale Police Det. Robert Breckenridge said
Wednesday.
“After Arman was arrested in January 2003, then everything died down
in regards to shootings [on Linden Avenue],” Breckenridge said. “I
don’t believe we have had any in that block since. We know there have
been fewer since then. And since then, we have arrested and convicted
a half-dozen guys who admitted in court to being [in a gang] and all
tied to Arman’s group.”
On May 21, 2002, 27 shots were fired on Linden Avenue, and three
handguns and an automatic machine pistol were later recovered. On May
25, 2002, three shots were fired, and on June 2, 2002, 12 shots were
fired.
“All of those shots we believe were between rival groups, and a gang
leader was at those locations, and we believe it was Arman and his
group,” Breckenridge said.
Sharopetrosian was not convicted in connection with those shootings.
Sharopetrosian pleaded no contest and was convicted last week in
Pasadena to 10 years in state prison for shooting at an occupied
vehicle, having a gun, and assault with a deadly weapon for an
alleged car-to-car shooting in the 1000 block of West Glenoaks
Boulevard in August 2001.
Sharopetrosian was also found guilty of failing to file taxes in
2000, officials said. A judge determined that his activities were
done to benefit a local Armenian gang.
None of the shootings that Sharopetrosian was found guilty of or is
believed to be involved with resulted in any killings, only injuries,
Breckenridge said.
“It’s very major to us because [Sharopetrosian’s arrest] is setting
the tone we want in the community,” Breckenridge said. “The tone [is]
that these individuals who are gang members and are feared by others
are being sentenced to prison terms, and that police are actively
pursuing them and catching them.”
Sharopetrosian was arrested in January 2003 on suspicion of credit
card fraud. He had a prior arrest for a car-to-car shooting in August
2001, officials said.
Sharopetrosian’s brother, Michael Sharopetrosian, 31, was arrested
earlier this year on suspicion of money laundering, tax evasion and
credit-card fraud, activities police suspect were tied to his brother
and gang activities, Sgt. Ian Grimes said Wednesday.
“He is a crook that is well-known in the community,” Grimes said
Wednesday. “We want people to know that people who are involved with
these types of activities will be caught and that we are aggressively
pursuing them.”
In July 2002, Glendale Police arrested Emil Airapetian on suspicion
of dropping a loaded firearm during a foot pursuit in Glendale.
Airapetian was later convicted and is now in state prison.
Sharopetrosian was with Airapetian the night he was arrested,
officials said.

Baku Today
July 29 2004
Defense Ministry Says Armenians Breached Armistice Again
Armenian troops fired on Azeri positions in Alibayli village of the
western Tovuz District for half an hour on Tuesday, the press office
of Azerbaijan’s Ministry of Defense said.
According to the press office, Armenians the same day fired from
their positions on the Qizil Hacili village of Azerbaijan’s Qazakh
District.
Armenians were retaliated and there are no casualties on the Azeri
side, the press office added.

Israel Insider, Israel
July 29 2004
When it comes to Aliyah, quantity is quality
By Yishai Fleisher
Recently, the Jerusalem Post printed an article titled “Quality, not
quantity, aliya.” (Jul. 25, 2004) In it, the writer Yosef Goell, a
former political scientist, claimed that while “the last thing in the
world we should want is to concentrate all Jews into tiny Israel,” he
still believes that “we should very much want to pick the cream of
the world’s Jewish crop for ourselves.”
Selection of Jews. That is what this educator thinks is good policy
for Israel.
Yet aside from this blatantly bigoted statement, the author Yosef
Goell says many things regarding the issues of the Jewish Diaspora
and Aliyah which one hears regularly.
Goell states: “In a hostile world, politically, economically and
culturally strong Diaspora communities such as in North America are
essential for strengthening Israel’s diplomatic and economic
position.”
The first misconception here is that the Diaspora communities are
“politically, economically and culturally strong.”
Are French Jews politically strong? They are being bombarded by
murderous anti-Semitism and are banned from wearing yarmulkes in
public. Are U.S. Jews strong? In the United States, seventy percent
of non-observant Jews are succumbing to intermarriage while the whole
of American Jewry is aging rapidly, with a birthrate that is below
the regeneration minimum. Today’s Diaspora Jewry is in dire straits.
The second misconception is that Israel needs a strong Diaspora to
survive.
Economically, Israel, the world’s 19th largest economy, would do
better not taking Uncle Sam’s allowance. Like a grown up still living
in his parents home, Israel needs to be weaned off U.S. money if it
is ever to have the self-respect of a grown-up nation.
Politically, a Jewish lobby is not the only reason that the U.S.
supports Israel. The U.S. shares many values and goals with Israel,
such as a free society and fighting terror. A strong Diaspora is not
what will keep the U.S. voting with Israel, rather, a strong and
healthy Israel will draw the admiration and respect of other nations.
Culturally, Israel is the center of the Jewish universe. It is no
coincidence that Birthright, the now-famous free trip, flies to
Israel, not to Brooklyn or the Lower East Side, to show young people
what Judaism is.
The State of Israel has become the center of the Jewish collective
focus. Every Jewish newspaper across the U.S. plasters pictures of
Israel on its front cover, not some local Jewish issue. Israel is
where Judaism is happening, all other places are merely satellites.
The strength of the State of Israel protects all Jews of the
Diaspora, not the other way around. Israel’s long-arm thwarts
violence against Jews worldwide. The truth is that Israel does not
need a strong Diaspora to survive, but rather the Diaspora depends on
a strong Israel to survive both physically and culturally.
Goell continues: “We are similar to other Diaspora peoples like the
Greeks, Armenians and Scots, in their relations between their
far-flung Diaspora and home countries.”
Unlike the “Greeks, Armenians and Scots” we, Jewish people, have been
pining for our homeland for the last two-thousand years, and while
other nations respect their homeland, they seem to be in no rush to
go back to Greece, Armenia, and Scotland respectively. Since the
founding of the State of Israel in 1948, millions of Jews have
immigrated to Israel, and soon the majority of the Jewish people will
live, once again, in Israel. The arrival of almost two thousand
American Jewish immigrants and hundreds of French ones this summer
attests to the fact that the Aliyah revolution continues.
Finally Goell writes: “But let’s stop for a moment and try to imagine
the implications of squeezing an additional seven to eight million
cantankerous, contentious Jews into this tiny country. Life in the
buzzing beehive of Israel would be hell” and “The last thing in the
world we should want is to concentrate all Jews into tiny Israel,
cramming everything into one basket.”
First of all Israel is not “tiny.” New Jersey is about the size of
Israel and has 13 million people in it and still has massive tracts
of open land. Israel has plenty of room for seven to eight million
Jews. From the Galil, to the Negev, from the Jordan Valley to the
mountains of Jerusalem, Israel has tons of space to accommodate all
the Jews of the world.
Second, nothing could be happier than “bringing an additional seven
to eight million” Jews into Israel.
In our daily prayers we say: “Our Father in Heaven, do kindness with
us for the sake of Your great Name that has been proclaimed upon us.
Fulfill for us, Hashem our G-d, what is written: ‘At that time I will
bring you and at that time I will gather you in, for I will set you
up for renown and praise among all the peoples of the earth, when I
bring back your captivity, before your own eyes,’ (Zephaniah 3:20)
said Hashem.”
We also say: “Blessed are you, Hashem, Who gathers in the dispersed
of His people of Israel.”
And we also say: “Blessed are You, Hashem, Who gladdens Zion with her
children.”
We have been praying to G-d for two thousand years to reunite us in
the Land of Israel. It will not be “hell” to have all the world’s
Jews in the Land of Israel, and we need not be afraid of having all
our eggs in “one basket.” G-d has promised to set us up “for renown
and praise among all the peoples of the earth” when we are reunited
in Israel. Indeed life here will be like a “beehive” because Israel
is the Land of Milk and Honey, and bees work nicely together to
create their home.
When talking about Aliyah, quantity is quality, because every Jew is
special and important. The “cream of the crop” of the Jewish people
is the Jewish people. Today, we should be advocating Aliyah for all
the Jewish people and putting it atop our political agenda. Aliyah is
the answer to the Arab demographic onslaught, and it will save Jews
in the Galut from assimilation and Anti-Semitism. Most of all, our
destiny calls for all the Jewish people to return to the Land of
Israel, so let us work to make this vision a reality today.
Views expressed by the author do not necessarily reflect those of
israelinsider.

Valletta Times, Malta
July 29 2004
Marinov urges team to stay focused
Bulgarian coach confident Marsaxlokk could surprise Primorje today
A 1-0 defeat to NK Primorje in their home leg a fortnight ago left
Marsaxlokk with a rather tall order to secure a passage from the
first qualifying round of the UEFA Cup when the second leg is played
today in Slovenia.
Coach Atanas Marinov is aware of the difficult task facing his team,
this summer playing for the first time ever in European club
competition. However, the Bulgarian firmly believes that there is
enough talent in his squad to surprise Primorje today. The Maltese
team, he reckons, stand a good chance of earning a favourable result
and qualification to the next round.
“We start 1-0 down… it’s a difficult match, no doubt. But
qualification for us is not impossible,” Marinov told The Times.
“Our performance in the first leg was very encouraging especially in
the second half. It was our first time in UEFA matches but we showed
no hesitation and I’m convinced we could offer better resistance even
though Primorje are in a better physical shape.
“Before the first leg we only played a couple of friendlies. The
league in Slovenia has not started yet but Primorje had already
played eight warm-ups. Since July 15, our physical condition has
improved considerably… now we’re in better shape.”
At Ta’ Qali Marsaxlokk managed to hold their own against Primorje and
looked a good bet to score a satisfactory result. However, a lapse in
concentration three minutes from the break proved costly for them as
Goran Jolic hit the goal that put Primorje in the driving seat ahead
of the second leg.
For Primorje, this year’s UEFA Cup participation represents a return
to Euro football after failing to qualify last season. Their last
showing was in the UEFA Cup in season 2002-03. They ousted Armenia’s
Zvartnots (agg: 6-3) in the qualifying round before falling to
Poland’s Wisla Krakow (agg: 1-8) in the first round proper.
Marinov may sound confident but he still warned his players to stay
focused and avoid committing the same mistakes as the one that led to
Primorje’s goal at the National Stadium.
“They will certainly go out in search of an early goal. That would
virtually seal the tie in their favour and us facing a mountain to
climb,” he said.
“We must take the field fully concentrated and determined to achieve
a good result. Primorje have to be given the respect they deserve but
we should not fear them or else it’s better for us to have stayed at
home.”
Since arriving in Slovenia, Marinov conducted two training sessions,
both yesterday, and a light warm-up is scheduled for today.
The only injury worries are defender Richard Buhagiar and midfielder
Minabo Asechemie.
Buhagiar seems to have recovered from a foot injury and Asechemie,
who twisted his ankle yesterday, should also be included in the
starting formation.
Marsaxlokk (probable): I. Casha, D. Carabott, D. Camilleri, N.
Slavtchev, R. Buhagiar, C. Magro, J. Pace, I. Zammit, T. Templeman,
D. Bogdanovic, E. Barbara.
Referee: A. Tchagharyan (Armenia FA).