BAKU: Two Azeris hoist national flag in Armenian-controlled area

Two Azeris hoist national flag in Armenian-controlled area

Azad Azarbaycan TV, Baku
15 Sep 05

Two Azerbaijanis living in Siberia have managed to hoist the
Azerbaijani national flag in the village of Sahlar in
Armenian-occupied Kalbacar District, the Azerbaijani commercial TV
station ATV reported on 14 September.

“I spent 16 days without food and water crossing the area guarded by
Armenians and Azerbaijanis and visited my sacred land of Kalbacar. For
me, Kalbacar and Sahlar are a second Mecca and Madina,” one of the
Azerbaijanis captioned as Dilqam said in an interview on 18 July 2005.

In his remarks to ATV, former Kalbacar resident Mirsayyaf Zamanli said
that this was Dilqam’s third visit to Kalbacar.

Video showed destroyed houses and facilities in the village of Sahlar
in Kalbacar. The video was filmed by a friend of Dilqam identified as
Sahbaz.

Azerbaijan’s Kalbacar District was occupied by Armenian troops on 2
April 1993.

Euro HR Court to Consider Property Rights of Armenians in Turkey

EUROPEAN HUMAN RIGHTS COURT TO CONSIDER INFRINGEMENT OF PROPERTY
RIGHTS OF ARMENIANS IN TURKEY

YEREVAN, SEPTEMBER 15. ARMINFO. The European Court of Human Rights is
expected to announce a decision next week on the property rights of
minority foundations. Specifically, the Court will adjudicate two
cases filed by the Soorp Purgich Armenian Hospital Foundation and the
Fener Greek Boys High School Foundation against Turkey.

In both cases, property gifted to the Armenian and Greek foundations
were seized as the Turkish courts upheld orders declaring that the
bequest violated a decree disallowing non-Moslems from donating real
estate. If the court rules in favor of the foundations, hundreds of
buildings seized in the past may be returned.

Earlier this year, Armenian Assembly Board Member and former Board of
Directors Chairman Van Krikorian testified before the Helsinki
Commission on freedom of religion in Turkey with respect to the
Armenian Church and community. During his testimony Krikorian noted
that “for centuries, Armenians paid and in many places still pay a
high price for their Christianity,” and that seizure and destruction
of Armenian Church property was commonplace. Krikorian noted that in
1914, in Turkey, there were approximately 5,000 Armenian Churches,
seminaries and schools registered by the Patriarchate and that today,
90 years after the Armenian Genocide, there are less than 50 Armenian
Churches.

Four ex-Soviet regions seek closer ties with Russia

Four ex-Soviet regions seek closer ties with Russia

Pravda
18:35 2005-09-14

Representatives of four ex-Soviet breakaway regions reiterated their
intention Wednesday to seek international recognition and closer ties
with Russia, and a Russian lawmaker said it was high time the
provinces were recognized as sovereign states.

Officials and academics from Georgia’s breakaway provinces of Abkhazia
and South Ossetia, the enclave of Nagorno-Karabakh disputed by
Azerbaijan and Armenia, and the Trans-Dniester region of Moldova met
at a conference in Moscow and pledged to pursue independence efforts.

Igor Akhba, Abkhazia’s envoy to Russia, said his region was determined
to become independent from Georgia and seek closer ties with Russia,
the AP reports.

“The people of Abkhazia have voted for an independent republic of
Abkhazia, … we are building an independent, lawful state in
accordance with international law,” Akhba said.

Taimuraz Kokoyev, dean of the South-Ossetian University, said his
province also had similar aims and hoped one day to become part of
Russia.

“The people of South Ossetia have decided their destiny long ago
… the Ossetian people will keep seeking to join Russia,” Kokoyev
said.

Representatives from Nagorno-Karabakh and Trans-Dniester also said
they relied on Russia’s help in their efforts to win international
recognition.

All the regions broke away from central governments in separatist wars
in the early 1990s, cultivating close ties with Russia.

Konstantin Zatulin, a lawmaker from the Kremlin-backed United Russia
party, called the sovereignty of these entities a reality that should
be accepted. “Fighting with reality is as complicated as peeing
against the wind,” Zatulin said.

Modest Kolerov, a member of the Russian presidential administration
charged with regional relations, said all the ex-Soviet republics
needed to ensure freedom of speech, religion and citizenship to their
citizens.

“We are acting to provide these fundamental rights to our fellow
countrymen in the former Soviet republics,” the Interfax news agency
quoted Kolerov as saying.

Working Meeting

WORKING MEETING

A1+
| 20:53:15 | 12-09-2005 | Official |

Today Robert Kocharyan had a meeting with the members of the political
council of the coalition.

The participants of the meeting discussed the course of Constitutional
reforms and issues about the NA plenary session agenda.

Oscar hopefuls, political dramas head to Toronto

Oscar hopefuls, political dramas head to Toronto

By Jeffrey Hodgson

TORONTO (Reuters) – The Toronto International Film Festival kicked off
its 30th edition on Thursday with movies about violence, sex,
religious persecution and the stress of a post-9/11 world — all set
to share a stage with some of Hollywood’s biggest stars.

The 10-day event, which film critic Roger Ebert calls the start of
Hollywood’s “Oscar season,” will screen more than 250 features on
subjects as diverse as female miners, gay cowboys, a transvestite
Irish revolutionary, would-be suicide bombers, a mistreated child
bride and Japan’s emperor Hirohito.

Johnny Depp, Charlize Theron, Steve Martin, Gwyneth Paltrow, Anthony
Hopkins, Cameron Diaz, Viggo Mortensen and Jackie Chan are just a few
of the stars expected at the festival, which ranks with Cannes,
Venice, Berlin and Sundance as one of the world’s most influential.

The festival began on Thursday evening with the world premiere of
“Water” — a movie that sparked riots in India when the first attempt
was made to film it five years ago.

The emotionally charged film about an eight-year-old Hindu child widow
was eventually made last year in Sri Lanka, where director Deepa Mehta
said she could work without distractions.

“It was fabulous… I didn’t have to go to a single political
meeting. I just directed the film,” she said.

Closing the festival on September 17 will be crime drama “Edison,”
which pairs Oscar winners Kevin Spacey and Morgan Freeman with pop
star Justin Timberlake and rapper LL Cool J.

The movies shown in between will come from more than 50 countries,
with more than 100 being shown for the first time.

Last year’s festival offerings — including “Ray,” “Hotel Rwanda,”
“Being Julia,” “Sideways” and “The Sea Inside” — became major
contenders in the Oscar race and critics will be on the lookout for
next year’s award winners.

Philip Seymour Hoffman’s starring role in the biography “Capote” and
director Ang Lee’s revisionist Western “Brokeback Mountain” are
already being spoken of as likely nominees.

But festival organizers said lower-profile films, many dealing with
anxiety that followed the terror attacks in New York, Washington and
Madrid, would offer equally worthy viewing.

TERROR ATTACKS, WAR

“Sorry, Haters” tells the story of an Arab immigrant cab driver whose
brother has been caught up in America’s security net after the
attacks.

“Paradise Now” follows two young Palestinians in the days before they
are called up to become suicide bombers, a theme also taken up in a
U.S. setting in “The War Within.”

The festival’s director of communications, Gabrielle Free, said the
selection of several films with similar themes was not deliberate,
given that they were picked by different variety of programmers.

“September 11 is now four years behind us, and I think that’s about
the amount of time you would expect for some thought-provoking films
(to emerge),” she said.

Equally provoking will be the latest films from Canada’s two most
famous directors, both of which debuted in competition at Cannes.

David Cronenberg’s “A History of Violence” tells the story of the
manager of a small town diner whose life is thrown into chaos after
thwarting an attempted robbery.

And Atom Egoyan’s “Where the Truth Lies” revolves around a scandal
that d rives apart a pair of entertainers played by Kevin Bacon and
Colin Firth. The movie has already been slapped with a NC-17 rating
for its explicit sexuality.

(With additional reporting by Arthur Spiegelman in Toronto)

Reuters/VNU

09/09/05 13:49 ET

Is Hovnanian Near the Ceiling?

Is Hovnanian Near the Ceiling?
0907.htm
By Stephen D. Simpson, CFA
09/09/2005

Usually, finding a stock with a low P/E is an indication that
investors don’t expect a whole lot from the company in question. Yet
even though Hovnanian_(NYSE: HOV)_
() missed estimates by
only a small amount and lowered future guidance fairly modestly, the
Street responded by taking down the shares of this homebuilder by
about 7%.

Of course, homebuilders aren’t your run-of-the-mill single-digit P/E
stocks. There’s that purported bubble to contend with. Everyone knows
(or at least assumes to know) that this boom in construction of new
housing has to end eventually, so a lot of investors and analysts sift
through these earnings announcements for the merest hints of an “aha,
I told you so” moment.

On the surface, there’s not a lot to really hate about Hovnanian’s
quarterly report. Sales rose 24%, earnings climbed 32%, and
homebuilding gross margins expanded. Deliveries of new homes increased
by only about 6% in unit terms, but the value of those homes was about
23% higher.

Guidance, though, was the issue. Although company executives stuck to
their guns and pointed out that they beat their own guidance, that’s
like pointing out the price of nutmeg in Batavia — in other words,
pretty irrelevant.

True, it’s not the company’s fault if analysts get out in front of
management’s own projections, but that’s the way the Wall Street world
works. Speaking of that guidance, though, management said that sales
prices on new homes were moderating, and the company lowered guidance
for the next two years by about 4%-5% from prior mean estimates.

Pretty much everywhere you look, you see homebuilders trading at
single-digit P/E multiples. “So,” the novice investor asks, “how could
I possibly lose if I buy stocks like Hovnanian, D.R.Horton_(NYSE:
DHI)_ () , Lennar_(NYSE:
LEN)_ () , or
Centex_(NYSE: CTX)_ ()
?” Well, what happens if the bottom drops out of the earnings part of
the P/E ratio? This is how, and why, cyclical stocks draw in the
unwitting when the stocks approach their cyclical peaks — the stocks
look cheap until you realize the risk that earnings have peaked.

Have Hovnanian and its brethren peaked? Honestly, I don’t know. What I
do know is that the returns on equity we’re seeing in the sector
aren’t sustainable — unless we’re all going to own two or three
houses apiece. That suggests to me, then, that the risk/reward ratio
in these stocks is tilted too much toward “risk” for my comfort.

For more homely Takes:
* _Bad-Mouthing the Bubble_
()
* _Behind the Bubble Babble_
( m)
* _Don’t Get Crushed by Your Home_
( ary05081505.htm)
* _Home Sweet Homebuilder_
()
Fool contributor _Stephen Simpson_ (mailto:[email protected]) has no
financial interest in any stocks mentioned (that means he’s neither long nor
short the shares).

The Motley Fool.

http://aol.fool.com/news/mft/2005/mft0509
http://quote.fool.com/uberdata.asp?symbols=HOV
http://quote.fool.com/uberdata.asp?symbols=DHI
http://quote.fool.com/uberdata.asp?symbols=LEN
http://quote.fool.com/uberdata.asp?symbols=CTX
http://www.fool.com/news/commentary/2005/commentary05090206.htm
http://www.fool.com/News/mft/2005/mft05082518.ht
http://www.fool.com/news/commentary/2005/comment
http://www.fool.com/News/mft/2005/mft05060112.htm

Justice Will Cooperate With Both

JUSTICE WILL COOPERATE WITH BOTH

A1+
| 19:19:02 | 07-09-2005 | Politics |

Today during the session of the Justice bloc the inter-party problems
of the Republican Party were not discussed. Even the leader of the
bloc did not want to comment the political events.

“I do not find it correct to comment on the events taking place in
other parties or to interfere with their business. I can only say
that we have passed a long way with the Republican Party and we will
cooperate both with the Republican which is member of the bloc and
with Bazeyan and Vagharshak Haroutyunyan”, answered Stepan Demirchyan
to the question of “A1+”.

Hope Dies Last

HOPE DIES LAST

A1+

| 18:40:00 | 01-09-2005 | Politics |

It is rumored that ArmenTel Company is going to disconnect the cellular
communications for ten days and then put on account of each subscriber
5000 AMD as compensation.

“It is nonsense”, head of the department for public relations Hasmik
Chulityan told A1+ reporter. She assured that the communication
quality will considerably improve within the next several days.

Kocharyan Receives Members Of Crew Of Kilikia Vessel

RA PRESIDENT ROBERT KOCHARYAN RECEIVES MEMBERS OF CREW OF “KILIKIA” VESSEL

ARKA News Agency
Sept 1 2005

YEREVAN, September1. /ARKA/. RA President Robert Kocharyan received
members of the crew of “Kilikia” vessel, which is the other day
finished the 2nd stage of the sailing, AR Presidential Press-Service
reports. The sailors presented the flag they sailed with to the RA
President and received another flag from the President, which they
will take to their future sailing. The sailors also presented the RA
President their signed photograph.

Kocharyan discussed with the crew members the issues of the 3rd
final stage of their sailing, as well as the issue of transporting
the vessel to Armenia. He pointed to the necessity to construct a
special berth in Lake Sevan and promised to help with this issue.

AYAS, the club of naval researches, has constructed a copy of
Armenian Kilikian trade sailing ship of 13th century, which started
a cruise following mediaeval routs around Europe through Black
Sea, Mediterranean and Atlantic Ocean. The vessel was constructed
in accordance with mediaeval manuscripts and epitomes with using
mediaeval technologies. In 2004, Kilikia entered 23 ports in 12
countries of Europe and Asia. The first stage of the expedition was
completed in the 2004 fall in Venice. On May 9, 2005, the ship put
to sea again. A.A. -0–

Russia’s New Permanent Representative To EU Full Of Ideas

RUSSIA’S NEW PERMANENT REPRESENTATIVE TO EU FULL OF IDEAS

RIA Novosti, Russia
Sept 1 2005

MOSCOW, (RIA Novosti political commentator Vladimir Simonov). —
Veteran diplomat and former deputy Russian foreign finister Vladimir
Chizhov, 52, Russia’s new permanent representative to the European
Union, has plenty to be getting on with.

His many priority tasks include negotiating simplified visa regulations
for Russians traveling to the EU, promoting the energy dialogue, and
drafting a new, comprehensive agreement for the Russian-EU partnership.

At his first press conference in his new capacity, Chizhov, who
attended 13 of the 15 EU-Russia summits, spoke about his plans to
transform his representative office in Brussels into the main center
for coordinating Russia- EU cooperation, which has been expanding.

Chizhov’s appointment came at a difficult time for the EU, with the
“No” votes in the referendums on the European constitution in France
and the Netherlands casting considerable doubts over the future
of the document. But the diplomat is undeterred, saying that it is
not yet clear how the ballyhoo over the European constitution will
affect Russia.

Moscow would like the plans and actions of its partners in Brussels
to be more transparent, as this would simplify joint projects. Yet
high-ranking EU officials have hinted that in the complicated
situation in which the organization finds itself, it is particularly
keen to prove its effectiveness, primarily in its relations with
third countries. Russia would like to take full advantage of the
opportunities this presents.

Since Britain currently holds the EU presidency, the 16th EU-Russia
summit, scheduled for December 4, will be held in London. Chizhov
said that one of the key issues on the agenda would be the
introduction of simpler visa regulations for Russians traveling to EU
countries. Russian experts and their European counterparts have already
made good progress in drafting two key agreements on simplifying visa
regulations and on readmission. Brussels sees a connection between the
two issues and is insisting that Moscow commits to readmitting deported
illegal migrants. Moreover, the EU is referring both to Russians and
to citizens of third countries who have traveled to Europe via Russia.

Chizhov does not rule out the possibility of compromise over these
conditions. Moscow’s new man at the EU is optimistically predicting
that the next stage of the visa negotiations will consider scrapping
visas altogether.

Contrary to what many Western analysts are saying, the EU is not
making progress in this area conditional on Russia signing border
treaties with Estonia and Latvia. Moscow and Brussels both regret
that such treaties have not yet been signed and hope that a solution
will eventually be found to these bilateral problems. “The ball is
in the court of our Baltic colleagues,” Chizhov said.

The diplomat highlighted a relatively new and specific problem that
has emerged within the Russia-EU energy dialogue, namely the need to
work out conditions for trade in nuclear fuel cycle materials.

With the enlargement of the organization last year from 15 to 25
member states, the EU gained an additional 19 nuclear power plants.

Of these, all but one were built by Soviet specialists or with Soviet
technical assistance. (The only exception is the plant in Slovenia
that was built by the company Westinghouse.) Accordingly, these 18
nuclear power plants receive nuclear fuel using the same arrangement
as similar facilities in some veteran EU countries, such as Finland:
Russia supplies the plants with fresh nuclear fuel and retrieves
nuclear waste. The EU and Russia should now formalize the conditions
of trade in nuclear materials in a legally binding document.

Russia’s representative to the EU also does not see any obstacles to
expanding cooperation in the seemingly sensitive and unstable region
of the Commonwealth of Independent States (CIS). Russia is not laying
claim to a monopoly of influence in the post-Soviet territory and is
willing to develop dialogue with the EU in this area, especially as
some CIS countries plan to join the EU.

As for the “frozen conflicts” in the CIS, namely the Transdniester,
Georgia-Abkhazia, Georgia-Ossetia and Nagorno-Karabakh conflicts,
the EU is keen to help bring an end to these tensions. Chizhov said
that Moscow was willing to discuss conflict settlement proposals,
be they of a political or material nature.

The initial ten-year EU-Russia Partnership and Cooperation Agreement is
due to expire on December 1, 2007. Article 106 of the agreement says
that the agreement can be automatically renewed, so neither party
expects a legal vacuum in their relations. However, it is evident
today that the agreement no longer reflects the present level of
EU-Russia relations and should be amended.

It is too early to predict with any certainty what form a new agreement
might take, whether it will be a new, comprehensive agreement, a
short-term framework agreement with appendices on specific areas of
cooperation, or a new wording of the old agreement.

But the main issue is that Russia and the European Union will continue
to need each other, and even more so in the future than they do today.