Small Businesses In Armenia To Receive Boost

Wednesday, 9 January 2008
Scoop.co.nz, New Zealand
Press Release: United Nations

Small businesses in Armenia to receive boost from UN rural development fund
The United Nations International Fund for Agricultural Development (IFAD) announced today that it will spend over $12 million for a new project in Armenia to help develop microenterprises with potential for rapid growth.

The Farmer Market Access Programme will provide loans to rural and peri-urban Armenians to develop profitable on- and off-farm small businesses who do not qualify for conventional bank loans.

"Once they are able to access credit, poor rural producers will have many more opportunities to develop profitable and commercially viable products and services all along the market value chain," said Henning Pedersen, IFAD's country programme manager for Armenia.

An increase in the number of rural enterprises will also spur job creation, he added.

IFAD will contribute $11.9 million in loans and $500,000 in grants, while the OPEC Fund for International Development will supply $10 million. Other co-financers for the $32.2 million programme include the Armenian Government and financial institutions.

Applicants for the project's funds must show that their prospective enterprise will generate sustainable income growth among target groups, including farmers as well as unemployed, under-employed and self-employed people. Preference will be given to those who engage women as suppliers and employees.

The project also aims to arm participants with the knowledge, technology and infrastructure to help them profit from domestic and export markets.

Improving access to roads, small-scale irrigation and village gas supplies are also emphasized by the programme, with participants contributing a minimum of 10 per cent in cash or kind to offset infrastructure costs.

In an innovative move, the project's main financing instrument will be a venture capital fund, the Fund for Rural Economic Development in Armenia (FREDA).

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Russian Giant ‘Implementing’ Diamond Deal With Armenia

Friday 21, December 2007
Armenialiberty.org, Armenia
By Hovannes Shoghikian

Russia’s state-owned diamond monopoly said on Friday that it has started implementing a recent agreement with the Armenian agreement which should shore up Armenia’s declining diamond-processing industry.

Under the agreement signed in Yerevan in August, the ALROSA giant undertook to resume supplies of Russian rough diamonds to Armenian companies. Those supplies fell sharply in 2004 and ceased altogether in 2006, contributing to an ongoing downturn in a sector that was once a key driving force of Armenia’s economic growth.

The ALROSA chairman, Sergey Vybornov, said 22 Armenian diamond-cutting firms applied to his company following the August deal but only four of them were chosen to receive Russian precious stones. They have already been supplied with $1 million worth of uncut diamonds, he told reporters in Yerevan.

According to Vybornov’s deputy, Sergey Ulin, ALROSA, which mines diamonds in eastern Siberia, plans to carry out at least $28 million worth of such deliveries in the course of next year and could raise their volume in 2009. He said the Russian giant, which accounts for one fifth of global rough diamond sales, sees “optimistic grounds for developing cooperation” with Armenia.

Underscoring the importance of that cooperation, both President Robert Kocharian and Prime Minister Serzh Sarkisian received the visiting ALROSA executives on Friday.

Minister for Trade and Economic Development Nerses Yeritsian said after the talks the Armenian government will do its best to facilitate ALROSA operations in the country. Yeritsian said the government is also holding “active discussions” with the Russian company on the possibility of expanding their presence into other sectors of the Armenian economy. He gave no details.

Vybornov said in that ALROSA is negotiating with the authorities in Yerevan over the possible of an unnamed Armenian mining enterprise. It was not clear if he referred to the Indian-owned Ararat Gold Recovery Company, which develops the bulk of the country’s gold reserves.

According to government statistics, Armenian plants manufactured 25 billion drams ($82 million) worth of gem diamonds in the first half of this year, down by 48 percent from the same period last year. Armenia’s total diamond output dropped by over 17 percent to 93 billion drams in 2006, continuing the production slump that began in 2004. Refined diamonds have since ceased to be the country’s single largest export and now account for just 1 percent of its gross industrial production.

Government officials and analysts blame the sector’s decline on a combination of internal and external factors, including falling global demand for precious stones and the dramatic appreciation of the Armenian dram.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Russians Set To Take Over Armenian Railway

Tuesday 11, December 2007
Armenialiberty.org, Armenia
By Ruben Meloyan

The director general of Armenia’s rail network on Tuesday effectively confirmed its impending takeover by Russia’s state-run railway, a deal which will place yet another chunk of the Armenian economic infrastructure under Russian control.

The Armenian government called last year an international tender for the exclusive right to manage the struggling network for at least 30 years. Only the Russian railway and an Indian firm showed interest in the bidding, sending relevant proposals to Yerevan earlier this year.

The Indians pulled out of the tender last month, all but predetermining its outcome. Armenian media had for months claimed that the contest is a mere formality as the state-owned Armenian Railway’s handover to the Russians was decided by Presidents Vladimir Putin and Robert Kocharian in Moscow last January.

The Armenian Railway chief, Ararat Khrimian, told RFE/RL that the tender’s winner will be officially announced “after January 2008.” He said Russian management of his company would be “natural and correct” given that it used to be part of the Soviet Union’s vast rail network.

“It’s easier to work with a company of which used to be a part than with others,” said Khrimian. “In my view, it will be easy and beneficial for us to work with the Russians.”

The impending deal is certain to be criticized by those government critics who believe that Russia’s growing economic presence in Armenia is turning into a stranglehold. Russian firms already dominate the Armenian energy and telecommunication sectors and are keen to acquire other industries. One of them is understood to have effectively purchased recently Armenia’s largest gold mining company from an Indian operator that fell foul of the authorities in Yerevan in January.

But according to Khrimian, more important is the fact that the new railway manager will have to invest at least $170 million in the Soviet-era network that has been operating at a fraction of its capacity ever since Armenia’s rail communication with the outside world was disrupted in 1992.

“Working in these blockade conditions, we have been unable to generate sufficient revenues to make capital investments in our train fleet and other infrastructure,” said Khrimian. “The investments will considerably improve the condition of our railway,” he added.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Armenia ranks 39 in WB Doing Business 2008

26.09.2007
PanARMENIAN.Net/\

The World Bank released its annual Doing Business 2008 ranking of the ease of doing business in 178 economies.

A high ranking on the ease of doing business index means the regulatory environment is conducive to the operation of business. This index averages the country’s percentile rankings on 10 topics, made up of a variety of indicators, giving equal weight to each topic.

Georgia, ranking 18, is leading among the CIS member states. The country intensified protection of investors and passed a new law on bankruptcy. It also speeded up the issue of permissions for construction works and simplified registration of property rights.

Armenia is the 39th with establishing a new private credit bureau and launching a new e-system of data exchange for customs officers.

Macroeconomic policy, infrastructure quality, currency fluctuations and crime level are not taken into account.

! Reproduction in full or in part is prohibited without reference to «PanARMENIAN.Net».

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Alrosa Considering $50 million Jewelry Retail Chain

Jun 17, 2007
IDEX Online, Israel
Online Staff Reporter

Russian diamond miner Alrosa has never limited itself solely to diamonds. The company is also involved in gold and other precious commodities. Now the miner is contemplating heading downstream with the establishment of a chain of diamond jewelry stores.

According to a report in the Russian Vedomosty newspaper, Alrosa is planning to invest $50 million in establishing the high-end retail operation. Vedomosty reports that the company is considering jewelry lines for men, women and children, with prices starting at $800.

Alrosa president Sergey Vybornov told Vedomosty, that Alrosa has the capacity to establish 50 shops in Moscow and other main cities within five years. He also said that the retail products may be manufactured outside of Russia, and suggested Armenia as a potential manufacturing location.

The plan has already drawn some criticism. Ararat Evoyan, vice president of the Russian Diamond Manufacturers Association, calls the project a “reckless scheme.”

To succeed in a jewelry production and retail operation, more the $50 million is needed, Evoyan said. Vybornov countered that the goal is to raise demand for diamonds.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

USA, Armenia Diamond Trading -10% in 2006

Jun 18, 2007
Diamonds.net, NY
By Jeff Miller

RAPAPORT... The United States has made a concerted effort to help Armenia during transition from totalitarianism and a command economy into democracy and open markets. Under government sponsored programs the United States has provided nearly $1.5 billion in humanitarian and technical assistance for Armenia in the past 15 years.

In 1992 Armenia signed three agreements with the United States affecting trade between the two countries. The United States considers that diamond trading between the two nations is an important player in commerce. The agreements were ratified by Armenia's Parliament in September 1995 and entered into force in the beginning of 1996. They include an "Agreement on Trade Relations," an "Investment Incentive Agreement," and a treaty on the "Reciprocal Encouragement and Protection of Investment."

Armenia's diamond trade overall however has hit a rough patch in the past two years. Armenia reported a 35 percent decline in rough imports from all nations for the first couple of months in 2007, following an overall diamond export drop of 20 percent in 2006 to $212 million.

Interestingly enough, diamond imports and exports between Armenia and the United States experienced a transition in 2006. Overall diamond trade fell 9.8 percent to $9.9 million. Armenia exported $1.7 million in polished goods to the United States, a drop of 78 percent from 2005. And yet polished exports from the states to Armenia in 2006 rose 196 percent to $8 million. Rough imports from the states dropped 76 percent to $170,000. A slight majority of goods traded were in excess of 0.50 carats.

So far in 2007 (January through April) polished imports from Armenia to the United States is flat at about $421,000. Polished exports to Armenia from the states has dropped 59 percent to about $273,000.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

New terminal opened in Zvartnots airport

26.05.2007
PanARMENIAN.Net

From June 1 the passengers of Zvartnots International Airport will be offered services in a new waiting room. The solemn opening ceremony took place May 25 with participation of President Robert Kocharian, Catholicos of All Armenians Garegin II, Argentinean Armenian entrepreneur, owner of Corporation America, president of Zvartnots-Armenia International Airports Eduardo Ernekyan, government members, MPs, businessmen and diplomats.

“Today we are putting into operation the best passenger terminal in the region,” Mr Eknekyan said adding that it’s the initial $100-million part of the general investment program. $100 million will be additionally invested in the airport till 2010.

When addressing the audience President Kocharian said this construction will perfectly correspond to the image of developed and competitive Armenia. He also thanked Mr Ernekyan for the work done and wished him every success in the implementation of the second stage of the investment program.

The ERDB and the German Investment Development Company have granted a $30 million credit for a 7-year term for modernization of Zvartnots airport.

! Reproduction in full or in part is prohibited without reference to «PanARMENIAN.Net».

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Armenia To Host 'Armenian Apricot' Business Forum in Yerevan

May 17, 2007
HULIQ, NC

Armenia is famous with sweet apricots that have great taste. The agricultural ministry of Armeniain cooperation with the National Academy of Sciences will convene an international conference and business forum on July 6-7, an official of the ministry said to Armenpress.

The official said the event will be titled 'Armenian Apricot" and will feature the famous fruit. Participants of the conference will tour several regions in the country where farmers grow apricot and visit several canneries producing apricot jams, juices and so on.

Representatives of Armenian Diaspora, businessmen dealing with agricultural products production are expected to attend the event. An exhibition displaying apricot products will be on the conference's fringes. - Armenpress

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Nalbandian Named International Trade Specialist for Schwarzenegger's CATO

April 26, 2007

LOS ANGELES--(BUSINESS WIRE)--Entrepreneur and long-time business consultant Johnny Nalbandian was named by the Foundation for Economic Development as the Trade Specialist for the California Trade Office of Yerevan, Armenia last month. The initiative to form CATO was signed by Governor Schwarzenegger in September 2005.

With an office already established in Yerevan, CATO is once again expanding operations with the addition of Nalbandian in Los Angeles.

Known as "Johnny" to his colleagues, Nalbandian founded a successful California-based seafood distributing and processing company at the age of nineteen. His company soon became a leader in the seafood industry not only by instrumentally moving restaurant white table cloth quality seafood into supermarkets but by also running pilot programs for the Food and Drug Administration (FDA) HACCP program. At its peak, the Company had $60 million in sales and was known as “The Tiffany’s of the Seafood Industry”.

Nalbandian, who grew up in Los Angeles, has become a successful and highly demanded business consultant and marketer. His private firm J III & Co. is based in Commerce, CA. For the past four years, Johnny has advised businesses of all industries and sizes regarding expansion, trade, and investment opportunities.

"My dream," notes Johnny, "is to introduce California-based businesses to new market opportunities so that we can both strengthen there foundations while play a leading role in the development of these emerging economies."

"With the 2007 FED Board and the new Chairman Levon Kirakosian, I feel that we are a few steps closer to making that dream a reality within the coming months,” adds Nalbandian.

CATO’s main goal is to activate itself by turning to knowledge and experience in the private sector of the economy. With their new trade specialist, CATO brings an entrepreneur’s perspective into the office’s decision-making process. Nalbandian brings California street-smarts and years of experience to the table, enhancing the office's efforts to work on behalf of the wide array of California businesses.

"Given its current economy and geography," Nalbandian believes, "Armenia is the perfect gateway to the regions served by the office. This frontier of opportunities for California's businesses and investors are endless."

A brief history of the California Trade Office

CATO began its work in October 2005 under the auspices of the California Business, Transportation and Housing Agency and is California's only foreign trade representation. The bill authorizing its creation was passed with overwhelming bi-partisan support in the California State Assembly and Senate. Serving the greater Eastern Europe, Western Asia, and former Soviet States, CATO is operated by a California-based non-profit organization called the Foundation for Economic Development, for which Nalbandian serves as the new Executive Director.

CATO seeks to realize a promising yet formidable mission: to assist efforts by private businesses in California to increase exports to regions served by the office. CATO is sponsored by the business community, which in turn benefits from the office's ability to match them with potential partners and marketing opportunities. In doing so, it stimulates the economies of underdeveloped countries and improves California's foreign trade balance as well.

“The trade office will open new and large growth markets for California businesses and investors,” explained State Senator Jack Scott (D-Pasadena) on the occasion of the Governor's signing the bill he authored to authorizing CATO. “For Armenia, and its neighbors, the office will generate much-needed business and investment.”

Armenia is among the fastest growing economies in the world. During the Soviet period Armenia was one of the most industrialized republics of the Soviet Union, with well-developed chemical, electronics, and high tech industries. Annual GDP growth averaged double-digit levels over the last three years, including 13.9% in 2004. In terms of trade policies, Armenia has one the most liberal trade regimes in the world. According to Freedom House (a non-profit, non-partisan organization founded in 1941 by Eleanor Roosevelt and others), Armenia displays greater freedom in political rights and civil liberties compared with neighboring countries in regions such as the Central Asian republics.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

H2 ECOnomy unveils a groundbreaking renewable energy combination

18-April-2007
Source:FuelCell Works

H2 ECOnomy, an Armenia-based international high-tech fuel cell R&D company, unveiled a renewable energy system that it developed as part of the U.S. government's Global Initiatives for Proliferation Prevention (GIPP) project. Attending the opening and demonstration event were representatives of US National Renewable Energy, International Science and Technology Center , Republic of Armenia and US government officials, energy related non-governmental agencies and other dignitaries.
The system includes a photovoltaic module consisting of 30 PV panels capable of generating power of up to 4kW, a PEM electrolyzer with hydrogen storage tanks, a conventional UPS and a 1 kW PEM fuel cell backup power system developed and prototyped by H2 ECOnomy.

During the daytime the excess electric power produced by the PV panels is converted into hydrogen by the electrolyzer, which is then utilized by the fuel cell system when necessary to generate electricity. This combined system provides backup / uninterruptible power supply to one of the laboratories at H2 ECOnomy.

Developed in partnership with US National Renewable Energy Laboratory, the system is a concept and demonstration of the distributed generation for the future. It appears to be a unique installation in the entire region, including Eastern Europe , the former Soviet Union and the Middle East .

H2 ECOnomy is a vibrant company leading the way to energy resources for the 21st century. Founded in 2000 and incorporated in 2002, H2 ECOnomy has grown to become a productive research and development company. The company’s expertise encompasses conductive composite materials, catalyst chemistry, polymer chemistry, electronic design, embedded systems and system integration. Knowledge in these fields has led to the creation of fuel cells for the educational and demonstration markets, sold worldwide through distributors in the US, Europe and Asia. H2 ECOnomy’s capabilities have been acknowledged by the receipt of a two-year US Department of Energy Initiatives for Proliferation Prevention (IPP) research grant, and its extension to install the subject matter system. The U.S. Department of Energy has provided US$ 620 thousand to H2 ECOnomy for the IPP project, of which US$ 100,000 were used to create the combined renewable energy system.

For more information about H2 ECOnomy, please visit the company’s website at http://www.h2economy.com or contact info@h2economy.com .

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Government Sells Minority Share In ArmenTel

22 march 2007
ArmeniaLiberty
By Emil Danielyan

Ending months of speculation, the Armenian government announced on Thursday the sale of its minority stake in ArmenTel to a Russian company that acquired 90 percent of the national telecommunications operator late last year.

The government said VimpelCom, a leading Russian mobile phone operator, will pay approximately $50 million to get the remaining 10 percent of ArmenTel's stock. A government statement issued after a weekly cabinet session did not give reasons for the move. It only cited a November 13 memorandum of understanding signed by VimpelCom and the Armenian Ministry of Transport and Communications.

VimpelCom, the first Russian firm listed on the New York Stock Exchange, purchased the commanding share in one of Armenia’s largest companies from the Greek telecom giant OTE in a $500 million deal announced on November 3.

Media reports at the time said the government offered the Russians to buy its largely symbolic share on the condition that they will give up ArmenTel’s controversial legal monopoly on Armenia’s Internet communication with the outside world. Armenian officials and VimpelCom executives did not confirm those reports.

On December 18, VimpelCom unilaterally relinquished the Internet monopoly and pledged to scrap ArmenTel’s remaining exclusive rights to other telecom services by the end of this year. The move was strongly welcomed by local Internet service providers and their customers that have long complained about the poor quality and high cost of the service.

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

First Free On-demand Electronic Medical Records Service has Launched

2007/03/21
EMRian

Yerevan, Armenia, 21 March 2007 – EMRian is the first web-based electronic medical records service for general practitioners, private medical practices and health professionals. The basic FREE version offers patients demographics, comprehensive scheduling and encounters’ tracking. Getting started with EMRian you only need internet access.

EMRian announces the first web-based FREE on-demand Electronic Medical Records service for general practitioners, small medical practices and private clinics. The service allows medical practices to store and access relevant patients’data, schedule and update appointments, enter patients’ medical records from multiple locations through secure connection using advanced internet technologies. EMRian keeps a log of anyone who has modified data in the system to be compliant with HIPAA.

EMRian system is designed for productive integration of all medical staff (doctors, nurses, pharmacist, and medical teams), and complete clinical functions (including appointment scheduling, visits, patient records, medical histories, examinations, charge capture, labs, referrals, medications and prescriptions, administrative and quality reports). Our objective is to improve the satisfaction of clients and the efficiency of medical staff. EMRian has limited functionality which will be increased and provided on demand. EMRian free version will help you identify the needs for your particular office prior to signing up for the premium features.

About EMRian
EMRian is a convenient on-line solution for general practitioners, small medical practices and private clinics that need to manage their health practice efficiently. EMRian is a multi-function and multi-purpose interactive web-based medical records service suite for doctors. The current basic version is provided free, although premium features will be added in the near future.
Gayane Dallakyan
Sales and Marketing
Tel.: +37410-219795
Fax: +37410-219799


Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

Kocharyan: Iran's help to Armenian nation not to be forgotten

March 19, 2007
IRNA

Armenian President Robert Kocharyan on Monday referred to the commissioning of Iran-Armenia gasline as a historical event opening a new page in bilateral relations.

The remark was made at a press conference after Iran-Armenia gas pipeline was officially commissioned at the common borders of the two countries and his talks with President Mahmoud Ahmadinejad.

Kocharyan said that ever since its independence, his country has been facing various problems such as siege, war and energy crisis, adding that such a bitter memory is now on the verge of oblivion.

Turning to the regularly coordinated growing trend of bilateral ties, he said that Iran's assistance to Armenia in the early years after his country's independence will never be forgotten and thanked Iranians for their kind attention.

He said that there was nothing on Iran-Armenia common border 15 years ago, except a few rows of barbed wire symbolizing the ex-Soviet Union's rule.

"Neither did the border on which I welcomed President Ahmadinejad exist at that time. This is while today 600,000 tons of goods are annually exchanged between the two states," he added.

Kocharyan underlined that no energy was exchanged between Iran and Armenia 10 years ago, but that today it can be said that their third power transmission line will soon be commissioned.

Pointing to the growing trend of Iran-Armenia cooperation as a model, he thanked his Iranian counterpart for efforts towards such a close cooperation.

In response to a question about expansion of cooperation between the two states, he said that bilateral ties can be divided into political and trade sections.

He referred to the level of political relations as excellent, adding, "This helps us regulate our ties with other countries in such a way as to avoid causing any sensitivity."

The Armenian president pointed to the bright prospect of Iran-Armenia economic development, saying that the economic projects due to be drawn up aim to strengthen relations between the two nations and lead to more tangible outcomes.


Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.

MON.ITOR.US Opens its Platform for Developers

Huliq

Yerevan, Armenia, 19 Feb, 2007 – MON.ITOR.US, a leading provider of global web key performance indicators (KPI) monitoring, as a part of its strategy to deliver the most complete and innovative website monitoring and management experience, opens its platform for developers . This will enable developers around the world to extend or build their own applications on top of the powerful monitoring platform via a new community portal, Monitis.org.

MON.ITOR.US empowers the open source community through its Monitis.org portal by offering an open API (Application Programming Interface) and open sourcing its components. It is providing toolsets and a location to manage and distribute new community developments in order to benefit all MON.ITOR.US users. The Monitis.org portal is designed to be a primary destination for collaboration, advancement and innovation in the systems management and monitoring area. Developers are encouraged to build new extensions, modules, as well as localized or specialized applications. In addition, MON.ITOR.US opens the source code of its widgets which enables developers to learn and enhance them collectively.

Using Monitis.org developers can register, request and start new projects, manage mailing lists, maintain access to the version control system SVN, run forums, wikis, and documentation, and release and distribute new modules. Monitis offers public access to project contributions, top project listings, project tree management, community member insights, code snippets, and project openings related to MON.ITOR.US.

“We are dedicated to putting users in control”, explains Hovhannes Avoyan, the CEO. “We want to unlock the creativity and ideas of developers around the world to build innovative web management and monitoring applications”.

About MON.ITOR.US
MON.ITOR.US is a leading provider of global monitoring solutions for websites and networks that make key performance indicators of websites, web applications and other network resources completely visible to managers, thereby reducing the risk of revenue losses. The service offers error detection, alert notification, detailed uptime and performance reports, real time snapshot views, and web site traffic analysis. It currently has over 4,000 users and monitors over 20,000 sites.

Sourcio (http://www.sourcio.com) launched the mon.itor.us service in March 2006 during the gigantic CeBIT IT Expo in Hanover, Germany. Sourcio is a privately owned IT service company specializing in open source and e-business solutions.

Contact: Gayane Dallakyan,
Sales and Marketing
Tel: +37410 219795
Fax: +37410 219799
Email: info [at] sourcio [dot] com
Web: http://mon.itor.us

Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.