Managerial Staff Changes In "Vimpelcom"

MANAGERIAL STAFF CHANGES IN "VIMPELCOM"

Panorama.am
12:23 03/03/2009

"Vimpel-Communications" Company announced that the General Director of
"VimpelCom" Alexander Izosimov was going to release from his position
on 2 April. The Directors’ Board of the Company made a decision to
appoint Boris Nemshich as the Executive Director of the Company and
Alexander Torbakhov – General Director.

According to "Armentel" (Beeline brand) Company Boris Nemsshich
is currently the General Director of "Telecom Austria" Group. And
Alexander Torbakhov is the General Director of "RGS-Life" Company.

Ara Nranyan: Economic Crisis In Armenia Includes Political Elements

ARA NRANYAN: ECONOMIC CRISIS IN ARMENIA INCLUDES POLITICAL ELEMENTS
Lena Badeyan

"Radiolur"
03.03.2009 14:54

Members of the ARF Dashnaktsutyun recently met with Prime Minister
Tigran Sargsyan and representatives of his economic team to suggest
the Party’s proposals regarding the ways of overcoming the crisis. Part
of them was accepted, others should be presented in the written form,
member of the ARF Dashnaktsutyun, economist Ara Nranyan told a press
conference today.

Dashnaktsutyun considers that only the development of the local
producer and the promotion of exports can ensure stable economic
growth under the conditions of the crisis. Nranyan is confident that
what the government is undertaking today is a little belated. "If
all this were done 3 or 4 years ago, the consequences of the economic
crisis on the republic would be much milder," he said.

The Deputy said that artificial high rate of the dram first of all
harms the local producer. The importers drew benefits here. For
Nranyan, it’s understandable that the rate of dram is changing,
"because it could not continue that way any more." He tried to predict
what will happen after the change of the dram’s rate.

"Under these conditions Dashnaktsutyn insists that the Government
should primarily refuse from tax pressures," Nranyan said.

In general, according to Ara Nranyan, the economic crisis in Arme
nia includes political elements, as well.

President Sargsyan Meets Members Of The Supreme Spiritual Council

PRESIDENT SARGSYAN MEETS MEMBERS OF THE SUPREME SPIRITUAL COUNCIL

armradio.am
27.02.2009 14:47

President Serzh Sargsyan hosted the Catholicos of All Armenians
Garegin II and members of the Supreme Spiritual Council.

Serzh Sargsyan appreciated the fact that the close cooperation between
the state and the Holy Etchmiadzin is reinforcing day by day.

Noting that at times of hardship the faith in God has always been the
last hope of our people, Serzh Sargsyan said it’s due to the prayers
of our nation and the great role of our Church that we have managed
to pass the crossroads of the past years, have an independent state
at the end of the 20th century and move forward.

According to Serzh Sargsyan, "the Armenian Apostolic Church is one of
the oldest establishments in the world that has been functioning for
over 1 700 years. It’s also the most ancient cultural and educational
establishment we have. It’s hard to imagine a more experienced and
influential partner for the state institutions of the Republic of
Armenia."

During the meeting reference was made to the issues members of
the Supreme Spiritual Council were interested in. In particular,
the interlocutors attached importance to the discussion of the draft
law on celebrating the National Identity Day, dwelt on the problems
facing the Georgian Diocese.

U.S. Will Continue Supporting Turkey Accesion To The EU20

U.S. WILL CONTINUE SUPPORTING TURKEY ACCESION TO THE EU20

PanARMENIAN.Net
27.02.2009 00:27 GMT+04:00

Turkey’s Chief EU Negotiator, State Minister Egemen Bagis believes
the U.S. support to Turkey’s accession to the EU would continue under
the Obama administration, turkishweekly.net reports.

Bagis received U.S. Ambassador to Ankara, James Jeffrey in
Ankara. Bagis told reporters that the U.S. always attached great
importance to Turkey’s accession to the EU and extended open support
to Turkey during membership negotiations.

"I’m sure the U.S. support to Turkey’s full membership goal will
continue with the new U.S. administration under Obama’s Presidency,"
said Bagis.

Also speaking during the visit, Jeffrey said the U.S. had been
supporting Turkey’s accession to the EU.

Jeffrey said Turkey, a democratic and secular country, was an important
ally of the United States. He said Turkey would play an important
role in the west noting that Turkey’s future was important for the
United States.

Armenian BTA Bank Joins Nasdaq OMX Stock Exchange

ARMENIAN BTA BANK JOINS NASDAQ OMX STOCK EXCHANGE

ARKA
Feb 25, 2009

YEREVAN, February 25. /ARKA/. BTA Bank CJSC joined NASDAQ OMX Armenia
stock exchange on February 25, 2009, ARKA News Agency was told at
department on marketing and communications of the stock exchange.

NASDAQ OMX Armenia membership will enable BTA Bank to carry out
exchange transactions in all corporate securities listed on NASDAQ
OMX Armenia, as well as in Government bonds, REPO and foreign currency.

BTA Bank CJSC is the legal successor of International Investment Bank
established in 1991.

The bank renders universal banking services to individuals and legal
entities through its main office in Yerevan and five branches in
Yerevan and Gyumri.

The bank’s largest shareholders are Bank TuranAlem (Kazakhstan) with
48.9% shares, ZRL Betaligunds GmbH German investment company (31.1%)
and Mobilex Energy Limited Ltd (16.2%).

By late 2008 the bank’s total capital had reached 5.5bln AMD, with
total assets amounting to 13bln AMD.

On January 27 2009 Armenian Stock Exchange OJSC was officially renamed
as NASDAQ OMX Armenia open joint stock company.

NASDAQ OMX was registered in Armenia in 2001 as a self-regulating
organization embracing 21 dealer organizations.

In early November 2007 the stock exchange was reorganized into an
open joint stock company.

In January 2008, Nordic exchange operator OMX Group acquired 100%
of shares of the Armenian Stock Exchange (Armex)20and the Central
Depository of Armenia (CDA).

As of February 25 2009, 23 securities have undergone listing on NASDAQ
OMX Armenia, and the capitalization is 53.6bln AMD.

Currently 23 companies, including 16 banks are members of NASDAQ OMX
Armenia.

Renowned Ballet Dancer Nino Ananiashvili To Perform On Armenian Stag

RENOWNED BALLET DANCER NINO ANANIASHVILI TO PERFORM ON ARMENIAN STAGE

PanARMENIAN.Net
25.02.2009 15:34 GMT+04:00

/PanARMENIAN.Net/ In the framework of Georgian Seasons due in Armenia
from March 5 to 9, Yerevan National Academic Theater after Alexander
Spendiaryan will host Tbilisi Opera and Ballet Theater performance
with participation of principal dancer Nino Ananiashvili.

According to Gayane Durgaryan, spokesperson for the Armenian Ministry
of Culture, events will not be reduced to these several days in March
but are planned for the whole year.

EU Urged To Boost Profile In Ex-Soviet Republics

EU URGED TO BOOST PROFILE IN EX-SOVIET REPUBLICS
By Robert Wielaard

The Associated Press
Feb. 23, 2009

BRUSSELS – EU foreign ministers on Monday considered increasing
economic and other aid to Ukraine and four other ex-Soviet republics
to try to counter Moscow’s continuing influence.

After Russia’s war against Georgia last August and the cutoff
of Russian gas to the European Union in January "we see a clear
imperative for stepping up our game in the neighborhood," said EU
External Relations Commissioner Benita Ferrero-Waldner.

The EU’s bid for closer ties with Armenia, Azerbaijan, Georgia,
Moldova and Ukraine is welcomed by these neighbors but not by Belarus’
authoritarian president, Alexander Lukashenko, who has close ties
with Moscow and runs a Soviet-style economy.

The EU hopes it can launch an "eastern partnership" on May 7 with
the leaders of all six countries.

"There is still much to do" to get Belarus on board, said Dutch Deputy
Foreign Minister Frans Timmermans.

Others said the EU may have to do without Belarus, especially if
it recognizes the breakaway Georgian regions of South Ossetia and
Abkhazia as independent states.

"We must not be overly optimistic," said German Foreign Minister
Frank-Walter Steinmeier.

The European Commission has drafted a plan offering free trade,
economic assistance, regular security and defense consultations
and far-reaching economic integration with the EU for each of the
eastern neighbors.

In exchange for EU money, expertise, goodwill, visas and economic
outreach, the countries must step up progress toward democracy,
the rule of law, sound economics and human rights.

The EU executive has budgeted euro1.4 billion ($1.8 billion) for the
plan between now and 2013. It added euro600 million ($769 million)
after the Russian-Georgian war in August and Russia’s cutoff of
natural gas in January.

The proposed partnership does not promise EU membership — something
Ukraine, in particular, wants. The plan is expected to be formally
approved at a mid-March meeting of the 27 EU leaders.

It came about after French President Nicolas Sarkozy in 2008 pushed
for a Mediterranean Union linking the EU to Israel and its Arab
neighbors. That was watered down because of objections in Germany
and because other countries said it was more crucial to reach out to
eastern neighbors.

The eastern partnership plan says the EU must seek a "diversification
of energy routes" by enabling the ex-Soviet nations to build new and
better-connected pipelines and oil- and gas-storage facilities.

The EU wants to see a gas pipeline from the Caucasus fully skirting
Russia. Russia is pushing for deals under which Turkmenistan and
Kazakhstan will ship their Caspian Sea gas through Russia.

Government Can Lend Helping Hand To Armenian Business?

GOVERNMENT CAN LEND HELPING HAND TO ARMENIAN BUSINESS?

PanARMENIAN.Net
24.02.2009 15:57 GMT+04:00

/PanARMENIAN.Net/ The alleviation of consequences of the economic
crisis in Armenia will for most part depend on state-business
cooperation.

"Despite insufficient integration of Armenia in the EU economic
structure, the republic couldn’t avoid the global financial crisis,"
said Arsen Ghazaryan, head of the Union of Manufacturers of Armenia.

The government should collaborate with entrepreneurs and create
favorable conditions for competitiveness of domestic production,
according to him.

The discussions also focused on the government’s activity, assessment
of anti-crisis programs and legislative reforms.

GDP Of Armenia Decreased By 0.7 Percent

GDP OF ARMENIA DECREASED BY 0,7 PERCENT
By Ara Martirosian

AZG DAILY
24-02-2009

At February 20 press conference, Head of the Armenian National
Statistical Service Stepan Mnatsakanian presented the indexes of
statistical works program of 2008 and the annual indexes of the
Armenian social-economic state in 2008.

Answering the question of "Azg" daily, Stepan Mnatsakanian also
presented the preliminary social-economic indexes of January of 2009.

According to the above-mentioned indexes, in January of this year,
first time during the recent years, a little economic fall is
recorded in Armenia – 0,7 percent. It means that gross domestic
product decreased by 0,7 percent – 99,3 percent of January of last
year exceeding AMD 132 billon.

A fall is recorded in industry, as some of the mining and chemical
industrial plants partially or fully stopped working. Decrease
in industry was 6,5 percent, without electricity – 2,4
percent. Electricity production decreased by 21,2 percent.

Agriculture increased by 0,4 percent, retail trade – 5,9 percent,
services – 1,4 percent.

According to Stepan Mnatsakanian, construction recorded the biggest
growth increasing by 13,4 percent compared with January of 2008.

The number of officially unemployed increased by 4,7 percent, medium
average wages – 14,4 percent to AMD 94 thousand; in the public sector –
AMD 76 thousand, in the private one- AMD 119 thousand.

External trade was USD 254,3 mln – 75,5 percent of the external trade
of January 2008. Export was USD 34,2 mln – 56,1 percent of January
of last year,. import – USD 220,1 mln or 79,8 percent of January of
last year.

Development Of Regional Transport System To Help Develop Tourism In

DEVELOPMENT OF REGIONAL TRANSPORT SYSTEM TO HELP DEVELOP TOURISM IN ARMENIA

ARKA
Feb 24, 2009

TSAKHKADZOR, February 24. /ARKA/. Development of the regional transport
system will facilitate development of tourism in Armenia, President
of Association of Armenian Freight Forwarders Makar Arakelyan said.

On-land transport communication may facilitate inflow of tourists to
the country as the air route is very expensive, Arakelyan said at his
interview to ARKA Agency during the sixth "Bridge-2009" international
economic forum Saturday. High cost of air transportation reduces
demand on tourism market of Armenia, he said.

Travelers first of all calculate the fare, then the hotel price and
other services, Arakelyan said. If fare is high, tourists try to find
alternate countries on the market.

In responding the question what should be done to turn Armenia into a
transit country Arakelyan said that roads not operated for political
reasons should be restored and regional problems, particularly those
with Azerbaijan and Turkey, should be solved.

Today Armenia has the Karabakh issue unsolved and if a mutually
advantageous solution is found to the problem, Armenia may become a
transit country, he said. Then, Armenia will get to Russia and Europe
through Azerbaijan and it will become a transit country for Georgia,
Turkey, Russia and Azerbaijan, Arakelyan said.