Turkish Company Boycotts AXA for Decision to Pay Compensation to Armenian Genocide Victims' HeirsNovember 2, 2005 - 18:04 AMT PanARMENIAN.Net - Turkey's Memur-Sen trade union, which represents 200,000 civil servants, has decided to boycott French insurer Axa after the company agreed to indemnify heirs of victims of the 1915 Turkish genocide of Armenians, union head Ahmet Aksu said. Axa agreed on October 13 to settle a US class action suit bydescendants of the victims of the killings under Ottoman rule. The deal has already prompted OYAK, Axa's industrial venture partner in Turkey, which represents the army pension fund, to say it will review its situation in the light of the "sensitivities of the Turkish people". In his turn, Press Secretary of the Turkish Foreign Ministry Namik Tan stated that the decision by the French company "will not change Turkey's position on the Armenian Genocide." To remind, AXA French Company decided to return the $17 million insurance payments to persons, who were insured by Company Turkish branch before 1915 and fell victim of the Armenian Genocide. $3 million will be spent to cover trial expenses, as well as to notify relatives of the Armenian Genocide victims. $11 million will be provided to the foundation that starts returning insurance payments. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Power of One Dram to benefit Road of Life, Strong Mind IDBank and Idram summarize the results of the May program of “The Power of One Dram”. Yerevan State University, Ucom sign Memorandum of Cooperation Rector of Yerevan State University Hovhannes Hovhannisyan and General Director of Ucom Ralph Yirikian signed the memorandum. EU to provide budgetary support to Armenia The agreement is aimed at increasing the competitiveness of the educational system of Armenia. Aliyev: No peace treaty unless Armenia changes constitution Azerbaijan will not sign a peace treaty with Armenia unless the latter changes its constitution, Azerbaijani President Ilham Aliyev said. |