Author: Yeghisabet Arthur

ACCORDING TO CHAIRMAN OF PUBLIC TELEVISION AND RADIO COMPANY’S COUNCIL, STATE FINANCING GIVEN FOR TECHNICAL SERVICES ONLY

Noyan Tapan

Ma y 14, 2008

YEREVAN, MAY 14, NOYAN TAPAN. The state budget-financed Public
Television of Armenia does not ensure citizens’ right to receive free
and balanced information, member of the NA "Heritage" faction Armen
Martirosian stated at the May 14 discussion of the execution of the
2007 state budget at the RA National Assembly.

In his words, last year the activities of the opposition were
hardly covered, except for the campaign of the parliamentary
elections. Instead, various shows and other "incompetible with
our people" programs were excessively demonstrated. A. Martirosian
pointed out that the possibility to broadcast all over Armenia gives
the Public Television a considerable advertisement opportunity.

The chairman of the Public Television and Radio Company’s Council
Alexan Harutyunian said that the state budgetary allocations, whose
amount has not changed since 2003, are provided for broadcasting
all over Armenia and satellite broadcasting abroad, while shows are
prepared with commercial revenues. Accrding to him, the broadcasting
all over Armenia is not sufficient to increase commercial revenues.

He said that starting from September of this year, the number of
political programs and TV debates will grow by nearly 50% and will
be shown almost every day. He announced that the second program of
the Public Television – "New Wave" will demonstrate only cultural
and educational programs from September.

SERZH SARGSYAN EXTENDS CONDOLENCES TO THE PRESIDENT OF CHINA

armradio.am
14.05.2008 14:45

RA President Serzh Sargsyan sent a message of condolence to the
President of the People’s Republic of China Hu Jintao. The message
states, in part:

"On behalf of the Republic of Armenia and myself, I extend deep
condolences to you and the friendly people of China connected with
the human losses as a result of the destructive earthquake in the
province of Sichuan.

We share the deep sorrow of the families and friends of the killed
and wish soon recovery to the wounded.

I’m sure that the Chinese people will find enough potential to restore
the moral and material consequences of the tragic disaster.

Considering Armenia’s experience of eliminating the earthquake
consequences, I express our willingness to render necessary support."

ARARATBANK PREPARING FOR NEXT PLACEMENT OF ITS CORPORATE BONDS WORTH 400 MLN AMD AT 9% RATE OF RETURN

arminfo
2008-05-13 18:54:00

ArmInfo. ARARATBANK is preparing for the next placement of its
undocumentary corporate coupon bonds worth 400 mln AMD at 9% rate
of return. As the Dealing Center of ARARATBANK told ArmInfo, the
circulation period is 1.5 years, a total of 40 thsd bonds will be
issued, the nominal value of each being 10 thsd AMD. Like during the
previous issue, the coupon payments will be carried out quarterly.

According to the source, the placement of these securities will most
likely take place in late May early June. At the moment, the issue
prospectus of the bonds is submitted for the approvement of the Central
Bank of Armenia (CBA). The dates of quarterly coupon payments will be
specified after the CBA approves the issue of the bonds. The issue
aims to attract additional idle funds from the market to transform
them into profitable assets in the future.

Like during the previous issue, these securities will be rated among
"Abond" by the Armenian Exchange (ArmEx), where demand for the bonds
considerably prevailed over supply. The bond yield of the next issue
is increased by 1%, which will make them more attractive.

According to the bank’s data, the circulation period of the previously
issued undocumentary corporate coupon bonds expired on May 12,
2008. The volume of their issue was 250 mln AMD, the rate of return
was 8%, the circulation period was 1 year. Within the frames of the
first issue, a total of 25 thsd bonds were placed, the nominal value
of each being 10 thsd AMD.

The volume of operations on the ARARATBANK’s corporate coupon bonds
at ArmEx throughout the period of their circulation (from May 12,
2007 till May 12, 2008) totalled 475.179 mln AMD, the number of
transactions was about 100.

The major part of the operations was carried out in 2007 – 309.626
mln AMD, the number of transactions being 64.

To note, as of April 1, 2008, the total capital of the ARARATBANK made
up $16.6 mln AMD, assets – $85.3 mln, total provision of crediting –
$35.8 mln.

The bank is active in the market of government securities. In
particular, as of April 1, 2008, investments in government securities
totalled $27.9 mln or 32,4% of the total assets, which is 3 times
as high as in the same period of 2007. On June 18, 2007, ARARATBANK
received a status of the Armenian government’s agent for managing the
internal state debt. According to the results of the first quarter
of 2008, the net profit of the bank totalled 222.8 mln AMD. To note,
Armeconombank issued bonds before ARARATBANK at the end of 2005. The
bonds of the Cascade Credit UCO and Shen Concern enterprise entered
the market in 2006. At the moment the corporate bonds of four issuers –
ArmRusgasprom CJSC, Valletta LLC, Shen Concern CJSC, and the Armenian
Copper Program CJSC are rated among Bbond by ArmEx. The Elite Group
company will shortly join this list.

ARMENPRESS

NA SPEAKER RECEIVES EU SPECIAL REPRESENTATIVE TO THE
SOUTH CAUCASUS

YEREVAN, MAY 7, ARMENPRESS: Armenian National
Assembly Chairman Tigran Torosian received today EU
Special Representative to the South Caucasus,
Ambassador Peter Semneby. At the meeting present was
French ambassador to Armenia Serzh Smesov.
Armenian NA press service told Armenpress that at
the beginning of the meeting, the NA speaker referred
to the steps carried out after March 1 unrest: it was
noted that with the instruction of the Armenian
president a task group has been set up which will
study the issues different international
establishments registered in Armenia, for finding
solutions to them.
The parliament speaker also said that another task
group has been set up in the NA to study the
suggestions of international institutions for
improving the Electoral code and processes in Armenia.
Torosian expressed hope that until midst of June
the presented proposals will be summed up and from
September it will be possible to discuss the
suggestions with international experts.
The EU special representative said that EU
continues having under the limelight the electoral and
pre-electoral processes taking place in Armenia and
underscores the release of people arrested for their
political views and elimination of restrictions for
conducting rallies, as well as loosening polarization
in the country and establishing dialogue. For
establishing political debate, Semneby said it is
necessary to create grounds. He said the NA may have a
great role not only in that issue but also in
establishing dialogue.
Semneby said that he has met with the former
presidential candidate Levon Ter-Petrosian and noted
that he got impression that there have been certain
changes – there is readiness to be involved in
political processes.
During the meeting the sides discuss other issues
of mutual interest.

DeFacto Agency, Armenia
May 5 2008

COMPOSITION OF RA NATIONAL SECURITY COUNCIL CONFIRMED

YEREVAN, 05.05.08. DE FACTO. According to a decree the RA President
Serge Sargsian signed on May 4 the composition of the RA National
Security Council has been confirmed. The Secretary of the Security
Council has been commissioned to present the Council’s Charter to the
President within 1 month.
According to the RA President’s Press Office, the following officials
have been included in the composition of the RA National Security
Council:
1. The RA President
2. The Chair of the RA National Assembly
3. The RA PM
4. The Chair of the RA Constitutional Court
5. The RA vice Premier
6. The Secretary of the National Security Council
7. The RA Defense Minister
8. The RA FM
9. The Head of the RA President’s administration
10.The RA Procurator General
11. The Director of the National Security Service under the RA government
12. The Chief of Police under the RA government
13. The Head of Headquarters of Armed Forces ` the RA First Deputy
Defense Minister
14. The Chair of the RA NA Permanent Commission for External Relations
15. The Chair of the RA NA Permanent Commission for European Integration Issues

A1+

MORE FUNDS FOR VITAL INVESTMENT IN EU’s NEIGHBOURHOOD
[01:11 pm] 07 May, 2008

The EU’s Neighbourhood Investment Facility (NIF) was
formally launched yesterday, the 6th of May, by Benita
Ferrero-Waldner, European Commissioner for External
Relations and European Neighbourhood Policy,
representatives of EU Member States and ENP[1] partner
countries. The NIF is a key instrument of the European
Neighbourhood Policy (ENP) and will mobilise
additional funding for infrastructure projects mainly
in the energy, transport and environment sectors in
the entire area of the European Neighbourhood Policy
by providing grant support for lending operations of
public European financial institutions. The Commission
has already made available 100 out of the 700
million it intends to allocate to the NIF for the
period 2007-2013. On top of this, the Facility is open
to contributions from all EU Member States so that
resources from the Community budget and of the EU
countries and public financial institutions will be
pooled and better streamlined for the benefit of
partner countries. Germany (10 million), Italy (1
million) and Sweden (1 million) plan to allocate
funds to the NIF in 2008; others Member States are
expected to announce their contributions shortly.

Benita Ferrero-Waldner said: "With this Investment
Facility we will not only promote the construction of
transport and energy infrastructure interconnections
between the EU and our neighbours but we will also
address common environmental challenges such as the
use of renewable energy and the de-pollution of
Mediterranean and Black Seas. Concrete projects
financed under this facility will bring tangible
benefits to citizens of the neighbouring countries and
the Union alike and will bring our partners closer to
the EU.’ And she added: "The NIF is a truly European
initiative. I welcome the first contributions from
Germany, Italy and Sweden to the NIF and encourage
other Member States to use this tool for channelling
their support to key investment in our immediate
neighbourhood."

Although the NIF will concentrate on the energy,
transport and environment sectors, its support may
also be provided for SME development and to social
sector projects. It is expected that the Facility will
generate up to 5-6 billion of lending.

Geographically NIF operations will focus on countries
with ENP Action Plans agreed with the EU, namely
Armenia, Azerbaijan, Egypt, Georgia, Jordan, Lebanon,
Moldova, Morocco, the occupied Palestinian territory,
Tunisia and Ukraine[2]. Moreover, on a case by case
basis, the other Neighbourhood countries may also
profit from NIF grant support for projects of cross
border or regional nature to which the EU and its
neighbouring partners attach particular interest.

DAVIS CUP TOURNAMENT EURAFRICAN ZONE 3rd GROUP TOURNAMENT TO BE HELD
IN YEREVAN

YEREVAN, MAY 6, NOYAN TAPAN. The Men’s 3rd group Tournament of Davis
Cup Tournament Eurafrican zone will be held on May 6-11 in Yerevan.
Besides Armenia’s tennis-players, sportsmen from Estonia, Lithuania,
Andorra, Bosnia-Herzegovina, Gana, Moldova, and Norway are included in
the sub-group.

Hayk Zohranian, Haroutiun Sofian, Hovhannes Davtian, and Roman
Yedigarian are included in Armenia’s national team. Sporstmen taking
the 1st and 2nd places will go up to the 2nd group.

SERGEI MOVSISIAN REPRESENTING SLOVAKIA IS IN GROUP OF LEADERS AT EUROPEAN CHESS CHAMPIONSHIP

Noyan Tapan
May 1, 2008

PLOVDIV, MAY 1, NOYAN TAPAN. Games of Round 9 of the European Chess
Championship were held on April 30 in Plovdiv (Bulgaria).

7 chess players earned 7 points each out of possible 9 and are
in the group of leaders, including Sergei Movsisian representing
Slovakia. Armenian player Valdimir Hakobian shares 8-9th positions
with 12 participants who earned 6.5 points each.

In women’s tournament, 5 players earned 7 points each and share 1-5th
positions. Lilit Mkrtchian and Elina Danielain have 6 points each
and share 11-22nd places.

ARMENIAN GENOCIDE MUSEUMS OF ARMENIA AND AMERICA SIGN COOPERATION AGREEMENT

Noyan Tapan
April 29, 2008

WASHINGTON, APRIL 29, ARMENIANS TODAY – NOYAN TAPAN. The Museum
of Armenian Genocide of America and Yerevan’s Museum-Institute of
Armenian Genocide have signed a cooperation agreement in Yerevan. This
information was provided by the Museum of Armenian Genocide of America.

The agreement was signed between Hayk Demoyan, the Director of
Yerevan’s Museum-Institute of Armenian Genocide, Hrayr Hovnanian,
the Chairman of Board of Trustees of the Museum of Armenian Genocide
of America, and Van Z.

Grigorian, museum’s trustee, the Chairman of the Commission of
Construction and Work. The agreement envisages permanent cooperation,
which will give a possibility to the two museums to coordinate their
programs and to exchange experience.

BANK VTB (ARMENIA) TO INCREASE MORTGAGE PORTFOLIO FOR SEVERAL TIMES TILL THE END OF 2008

arminfo
2008-04-29 16:38:00

ArmInfo. Bank VTB (Armenia) is going to increase mortgage portfolio
for several times till the end of 2008, Director General, Chairman
of Directorate of Bank VTB (Armenia) Valeriy Ovsyannnikov told
journalists today. He also added that by the end of the first quarter
of the current year the mortgage portfolio of the bank amounted
to about $21 mln, having grown almost by 29% since the beginning
of the year. ‘Housing market in Armenia is growing parallel to the
construction volumes>, – he said and added that the bank is going to
negotiate with construction companies.

He stressed that the bank’s mortgage lending terms are accessible for
the middle section of the population. In 2007 the bank was among the
first to sell affordable housing loans in the primary and secondary
markets at the annual interest of 12% and 20 years of repayment
period. As of January 1 2008, the total mortgage portfolio of the
Armenian banking system made up 53.5 billion drams, having doubled
since 2007.