Athens News Agency: Daily News Bulletin in English, 97-08-08
From: The Greek Press & Information Office, Ottawa Canada <grnewsca@sympatico.ca>
ATHENS NEWS AGENCY BULLETIN (No 1258), August 8, 1997
Greek Press & Information Office
Ottawa, Canada
E-Mail Address: grnewsca@sympatico.ca
CONTENTS
[01] US displeased with Turkish partial integration agreement
[02] Cyprus cannot be held hostage by Turkey, EU reiterates
[03] Paris deplores
[04] Tsohatzopoulos: Ankara blackmailing EU
[05] Opposition parties
[06] Expected good result for Johnson at World Championships
[07] Bagach loses gold medal for doping
[08] Faumuina wins New Zealand's first world gold
[09] Kumbernuss proves she is still woman to beat
[10] Korzeniowski adds world gold to Olympic title
[11] Sidoti wins 10 kms walk after champion disqualified
[12] Johnson blazes to second world high hurdles title
[13] Greek athlete passes to men's 200 meters final
[14] Perec's campaign ends in tears on training track
[15] Medals table
[16] Foreign journalists briefed on Athens' 2004 Olympics bid
[17] Greece to host Optimist European sailing championship in 1999
[18] Members of US Congress to visit Greece and Cyprus
[19] Culture foundation bill discussed
[20] Greek minority leader denies discussion of double citizenship
[21] New Turkish consul general pays visit to Alexandroupoli mayor
[22] Neolithic finds in Serres
[23] Corfu prison escapees release hostage
[24] Argolida orange processing plant misappropriates EU funds
[25] Kaklamanis lashes out against media, defends deputies' pay
increases
[26] Greek equities surge 1.08 pct, shrug off resistance at 1,600
[27] Greece gives Dr. 16 billion for roads, port, flood prevention
[28] Ergobank's mutual fund assets rise 6.6 pct in July
[29] Athens hotels more than able to handle large world events
[30] Turkish town buys Greek salt from Lesvos
[01] US displeased with Turkish partial integration agreement
Washington, 8/8/1997 (ANA-T. Ellis)
The US State Department last night expressed its displeasure
over the partial integration agreement between Turkey and the
illegal Turkish Cypriot regime.
New State Department spokesman Jamie Rubin termed the agreement
as "unuseful" adding that the US "would not want to see steps
obstructing the UN negotiating process or moving in the
direction of the permanent partition of the island."
He said the US is aware of the content of the agreement and
expressed Washington's displeasure.
"The US firmly supports the UN efforts for securing a settlement
to the Cyprus problem," Mr. Rubin said.
The agreement, signed Wednesday in the occupied northern part of
Cyprus by Turkish Foreign Minister Ismail Cem and a Turkish
Cypriot "official", provides for an association council to work
towards the partial economic and defense integration of Turkey
with the Turkish Cypriot regime in the occupied northern part of
the island. It comes just five days before the start of a second
round of UN-sponsored talks between Cyprus President Glafcos
Clerides and Turkish Cypriot leader Rauf Denktash, in
Switzerland in August 11-16, aimed at resolving the protracted
Cyprus problem.
Turkey has threatened it will unite the occupied north of Cyprus
if the island republic begins membership talks with the European
Union. The EU last month invited Cyprus to begin accession talks
early next year along with five central European nations.
[02] Cyprus cannot be held hostage by Turkey, EU reiterates
Brussels, 8/8/1997 (ANA - M. Spinthourakis)
The European Union yesterday said accession talks with the
Cyprus Republic would start in 1998 reiterating that Cyprus
could not be held hostage by Turkey.
"Membership negotiations with Cyprus will begin within 1998,
together with the five countries of central and eastern Europe,"
a European Commission spokesman told the ANA when asked to
comment on the partial integration agreement.
The EU Commission spokesman clarified that the presidency of the
Council of Ministers and the Commission had no knowledge of the
text of the illegal agreement, and stressed that "the
continuation of intercommunal talks and the finding of a just
and viable solution to the Cyprus problem is of the utmost
priority for the European Commission". Concluding, the spokesman
provided a reminder of External Affairs Commissioner Hans van
den Broek's recent statement that "Cyprus cannot be held hostage
by Turkey" and that negotiations will begin as scheduled.
[03] Paris deplores
Paris, 8/8/1997 (ANA/ AFP)
The French government yesterday deplored the signing of the
illegal agreement.
"We believe that the association agreement counters the efforts
underway for the finding of a negotiated solution," a French
foreign ministry statement said.
"France desires the reunification of Cyprus in the framework of
a bi-zonal and bi-communal federation, according to the UN
Security Council resolutions," Yves Doutriaux, a ministry
spokesman added.
Paris is asking the two sides to "contribute" to the success of
the forthcoming negotiations in Montreux, and stresses that the
Cyprus problem "must be resolved before the completion of
membership negotiations" with the island republic.
[04] Tsohatzopoulos: Ankara blackmailing EU
Athens, 8/8/1997 (ANA)
In Athens, National Defense Minister Akis Tsohatzopoulos
yesterday described the partial integration agreement between
Turkey and the illegal Turkish Cypriot regime as "sheer
blackmail by Ankara against the European Union".
Mr. Tsohatzopoulos said it was part of Turkey's efforts to
impede the process for the accession of the Cyprus Republic to
the EU.
"Accession however cannot be obstructed by such blackmail," he
added.
"This effort by Turkey illustrates its inability to adapt to the
principles of international law and the values which govern the
EU, which Ankara must accept if it wishes to come closer to
Europe," Mr. Tsohatzopoulos said.
"The Greek government," he continued, "is calmly and steadfastly
implementing its policy which is based on international law,
international treaties and conventions and the decisions of
international organizations which provide a hopeful and positive
framework of prospects for the Cyprus issue." "Greece will not
lose from such pyrotechnics, the other side will lose," Mr.
Tsohatzopoulos said, referring to the integration agreement.
Mr. Tsohatzopoulos was speaking to reporters after meeting with
a Cypriot party delegation visiting Athens.
On Wednesday, the Greek foreign ministry strongly condemned the
illegal agreement and warned Turkey over its European
orientation. Alternate Foreign Minister Echoing Mr.
Tsohatzopoulos' statements, Alternate Foreign Minister George
Papandreou also warned Ankara that the agreement "does not
contribute to Turkey's European orientation".
Replying to reporters' questions, Mr. Papandreou likened
Turkey's policy to an "impasse", underlining that the agreement
did not contribute to the efforts of the international community
under UN auspices for a just solution of the Cyprus problem.
Mr. Papandreou also reminded the Turkish leadership that "the
EU, with its common position and recent report - the so-called
Agenda 2000, has stressed that the settlement for the Cyprus
problem is a prerequisite for Turkey's European course".
"Turkey should bear this in mind because moves such as these
(the agreement) clearly do not contribute to Turkey's European
orientation," he added.
Asked whether the agreement would affect the joint communiqui of
Madrid, Mr. Papandreou replied that "everything will depend on
what steps are taken next, but most certainly it does not
contribute to finding a positive way out of the Cyprus problem".
[05] Opposition parties
Athens, 8/8/1997 (ANA)
"The policy of 'playing the good boy' being followed by (Prime
Minister) Costas Simitis towards Turkey is not only not
effective with respect to our national interests but also
emboldens Ankara and its supporters," main opposition New
Democracy party deputy and former defense minister Ioannis
Varvitsiotis said in a statement yesterday.
The Communist Party of Greece (KKE) commented on the agreement
by saying it provided proof that the Madrid joint communiqui
would not result in positive developments. The Coalition of the
Left and Progress meanwhile called for an immediate meeting of
the political party leaders to discuss the situation in light of
the agreement.
"In order to confront Turkish provocativeness and neutralize the
efforts being made to undermine the process of Cyprus' accession
to the EU, the government should co-operate with the Cyprus
leadership and, in consultation with the Greek political forces
, take initiatives within the framework of international
organizations and particularly the EU," a Coalition statement
said.
The Democratic Social Movement (DHKKI) issued a statement saying
that "the provocative association agreement between Turkey and
the pseudo-state" proves that last month's "Madrid declaration
(of principles for smoothing relations) is not worth the paper i
t is written on".
"It also proves how ruthless Turkey is in the pursuit of its
aims, and how dangerous those who think that Ankara wants or can
change are," the statement said.
Greek Prime Minister Costas Simitis and Turkish President
Suleyman Demirel early July issued a joint communiqui in Madrid
defining the principles which should govern Greek-Turkish
relations.
[06] Expected good result for Johnson at World Championships
Athens, 8/8/1997 (ANA)
Yesterday's results at the Athens '97 World Athletics
Championships revolved around an expected good result for
American Allen Johnson, who won his second successive world high
hurdles title and came very close to breaking the world record,
and an unexpected stripping of a gold medal, nonetheless, from
world shot put champion Aleksandr Bagach of the Ukraine, who was
the first athlete to fail a drug test during this event.
Greece's hopeful George Panagiotopoulos managed to hold his own
and pass into the finals of the men's 200 race, while France's
Marie-Jose Perec was forced to withdraw after hurting herself in
warm-ups.
[07] Bagach loses gold medal for doping
Athens, 8/8/1997 (ANA)
World shot put champion Aleksandr Bagach was stripped of his
gold medal yesterday and lost $60,000 prize money after testing
positive for the stimulant ephedrine.
The 30-year-old Ukrainian, who became on Saturday the first
person to win a title at the sixth world championships, also
became the first athlete to fail a drug test here.
American John Godina, competing here after he was granted a wild
card as defending champion, is the new world shot put champion
while German Oliver-Sven Buder has the silver.
C.J. Hunter, fiancee of the new women's 100 meters champion
Marion Jones, is elevated to the bronze medal position.
French men's 400 meters hurdler Pascal Maran and women's triple
jumper Oxana Zelinskaya of Kazakhstan also tested positive for
ephedrine. Their results were also canceled.
All three are beneficiaries of the International Amateur
Athletic Federation's (IAAF) decision to scrap bans for first
offenders for minor drugs such as stimulants and replace them
with a "public warning".
Bagach was suspended for two years after being found to have
high levels of testosterone at the 1989 European Cup in
Gateshead, England, while competing for the Soviet Union. Under
the old rules, as a second-time offender Bagach would have been
banned for life if he had tested positive for a more serious
performance-enhancing drug such as steroids.
[08] Faumuina wins New Zealand's first world gold
Athens, 8/8/1997 (ANA)
Beatrice Faumuina won New Zealand's first gold medal in the
14-year history of the world championships when she won the
women's discus final yesterday.
The 22-year-old of Samoan descent, who came into the competition
as a favorite after throwing a season's best of 88.52 meters at
Oslo a month ago, fouled her first two throws and would have
been eliminated if her third throw was illegal or too short.
But she survived the pressure to unleash her winning delivery of
66.82 meters in the third round.
That was good enough not only to win New Zealand's first world
championship title, but also their first ever world medal.
Defending champion Ellina Zvereva of Belarus, who led the
competition after two rounds with a heave of 65.90 meters, could
not improve on that and had to settle for the silver.
Natalya Sadova of Russia, the Olympic silver medallist, took the
bronze with a throw of 65.14 meters.
Greece's finalist, Stella Tsikouna, came seventh out of 12, with
a throw of 61.92.
[09] Kumbernuss proves she is still woman to beat
Athens, 8/8/1997 (ANA)
Germany's Olympic champion Astrid Kumbernuss continued her
dominance of the women's shot put by defending her world title
with ease yesterday.
A second-round throw of 20.71 meters clinched the gold for the
27-year-old Neubrandenburg athlete.
Vita Pavlysh took silver with 20.66 to bring some positive news
to Ukraine on a day when their male shot put world champion
Aleksandr Bagach was stripped of his title for doping.
Germany's Stephanie Storp took bronze with a first-round effort
of 19.22.
[10] Korzeniowski adds world gold to Olympic title
Athens, 8/8/1997 (ANA)
Poland's Robert Korzeniowski added the world gold to his Olympic
title yesterday when he took the 50 kilometers walk in three
hours 44 minutes and 46 seconds.
Korzeniowski walked an almost flawless race, picking up only one
warning, and took the lead with just over four kilometers to go.
He had dueled for much of the race with Spain's Jesus Garcia,
the 1997 World Cup winner, but managed to match Garcia's
repeated attempts to pull away.
Garcia stayed in close contact to finish second in 3:44.59.
Mexico's Miguel Rodriguez took the bronze medal.
Greece's Christos Karagiorgos, 44, completed the walk 29th at
4:30:05. Karagiorgos, a veteran in track events, is the oldest
athlete participating in this year's IAAF championships.
[11] Sidoti wins 10 kms walk after champion disqualified
Athens, 8/8/1997 (ANA)
Italian Annarita Sidoti won the world women's 10 kms world title
yesterday after defending champion Irina Stankina was
disqualified.
Sidoti was in the lead with Russian Stankina on her heels when
the latter received her third warning with 5-1/2 laps remaining.
Stankina, who had become the youngest ever world champion at 18
years 135 days two years ago in Gothenburg, collapsed by the
side of the track, holding her head in her hands.
The 28-year-old Sidoti, whose best result previously in world
championships was a ninth place in 1991 and 1993, went on to
record a comfortable victory in 42 minutes 55.49 seconds.
It was the second major title for the diminutive Italian after
her gold medal at the 1990 European championships.
Russian Olimpiada Ivanova came a distant second in 43:07.63 and
Olga Kardopoltseva of Belarus was third in 43:30.20.
Hungarian Maria Urbanik-Rosza, who came last, fell unconscious
after crossing the line.
[12] Johnson blazes to second world high hurdles title
Athens, 8/8/1997 (ANA)
American Allen Johnson blazed to his second successive world
high hurdles title yesterday in a time only two-hundredths of a
second outside the world record.
The Olympic champion brushed five barriers on his way to the
finish but still won easily in 12.93 seconds from Briton Colin
Jackson (13.05), who set the world record at the 1993 Stuttgard
world championships.
Igor Kovac of Slovakia took the bronze in 13.18 seconds.
The race featured each of the Atlanta Olympic medallists, but
Olympic silver medallist Mark Crear could finish only seventh in
13.55 seconds, while German Florian Schwarthoff, who won the
bronze in Atlanta, was fourth in 13.20.
Johnson's time was the quickest in the world this year and
equaled the 12.93 clocked by former world record holder Renaldo
Nehemiah in 1981.
[13] Greek athlete passes to men's 200 meters final
Athens, 8/8/1997 (ANA)
George Panagiotopoulos became the first Greek athlete in history
to qualify for the men's 200 meters final in a world
championship, placing third in the first semifinals series
yesterday with 20:43 seconds. He will be competing today along
with silver medallist Frankie Fredericks from Namibia and bronze
medallist Ato Boldon from Trinidad and Tobago.
[14] Perec's campaign ends in tears on training track
Athens, 8/8/1997 (ANA)
Marie-Jose Perec's world championship campaign ended in tears on
the training track yesterday when she pulled a leg muscle while
warming up and was forced to pull out of the 200 meters
semifinals.
The Olympic 200 and 400 meter champion from France, who
originally did not want to compete in Athens because of her
disappointing form this session, hurt a thigh muscle and left
the warm-up arena in tears.
Perec entered the 200 only here and admitted that it would need
a miracle for her to win a medal. But she had looked confident
in the earlier heats and could have had a chance of getting into
the first three in today's final. Trinidad's Ato Boldon, who
will run in the 200 men's finals and trains with Perec, said the
Frenchwoman had had no chance of competing.
"If she had come out and run (yesterday), she would have left
the track on a stretcher," he said.
Defending champion Merlene Ottey, who failed to win a medal in
the 100 meters, looked sharp as she won her semifinal with
meters to spare in 22.26 seconds.
[15] Medals table
Athens, 8/8/1997 (ANA)
Medals table after the sixth day of competition at the World
Athletics Championships yesterday:
United States: 5 gold, 2 silver, 5 bronze Germany: 3 gold, 1
silver, 2 bronze Kenya: 2 gold, 2 silver, 1 bronze Cuba: 2 gold
Czech Republic: 2 gold Poland: 1 gold, 1 silver Portugal: 1
gold, 1 silver South Africa: 1 gold, 1 silver Australia: 1 gold,
1 bronze Mexico: 1 gold, 1 bronze Morocco: 1 gold, 1 bronze
Ethiopia: 1 gold France: 1 gold Italy: 1 gold New Zealand: 1
gold Ukraine: 3 silver, 1 bronze Britain: 3 silver Russia: 2
silver, 3 bronze Spain: 2 silver, 1 bronze Belarus: 1 silver, 2
bronze Canada: 1 silver Finland: 1 silver Jamaica: 1 silver
Romania: 1 silver Uganda: 1 silver Bahamas: 1 bronze Greece: 1
bronze Japan: 1 bronze Lithuania: 1 bronze Slovakia: 1 bronze
Switzerland: 1 bronze.
[16] Foreign journalists briefed on Athens' 2004 Olympics bid
Athens, 8/8/1997 (ANA)
80 foreign journalists from the press and electronic media
around the world were received yesterday at the Zappion Building
by the President of the Athens 2004 Bidding Committee, Yianna
Aggelopoulou-Daskalaki. The foreign journalists were
analytically briefed by the president and members of the
committee on Athens' bid for the 2004 Olympic Games.
[17] Greece to host Optimist European sailing championship in 1999
Athens, 8/8/1997 (ANA)
Greece will host the Optimist European sailing championship in
1999, putting Greece on the map as a center for international
sailing events. In a vote to decide on the host for 1999, Greece
got 16 "yes" votes and 4 "no" votes.
[18] Members of US Congress to visit Greece and Cyprus
New York, 8/8/1997 (ANA - M. Georgiadou)
A number of leading members of the US Congress are scheduled to
visit Greece and Cyprus from August 20 to 28.
The American congressmen and congresswomen have key positions in
various committees such as public relations, national security,
banking organizations, sciences etc.
The tour, which will offer the American officials the
opportunity to be briefed on major problems facing the region at
the present crucial period, is being organized by the Cypriot
Federation of America in co-operation with the World Committee
for Justice in Cyprus.
The delegation will have meetings with Greek Prime Minister
Costas Simitis, Cypriot President Glafcos Clerides and other
government officials and ambassadors in both countries.
The delegation comprises members of the Foreign Relations
Committee, Bob Menendez, Rob Andrews, Alcee Hastings, of the
National Security Committee, Michael Pappas, and of the Banking
Organizations Committee, Maurice Hinchey.
[19] Culture foundation bill discussed
Athens, 8/8/1997 (ANA)
A Foreign Ministry bill on the institutional framework for a
Greek Culture Foundation was debated yesterday by the relevant
parliamentary committee.
Alternate Foreign Minister George Papandreou emphasized the need
for such an agency, to operate in a similar way to corresponding
educational and cultural foundations in other countries.
The bill was approved by the majority of committee members. The
Communist Party of Greece (KKE) expressed some objections.
[20] Greek minority leader denies discussion of double citizenship
Gjirokaster, 8/8/1997 (ANA-P. Barkas)
Human Rights Union party leader Vassilis Melios denied yesterday
he had discussed the possibility of double citizenship issued to
Albanians of Greek descent during the visit Tuesday of Greek
Foreign Minister Theodoros Pangalos.
Mr. Melios also said that according to the foreign minister, the
same possibility for Albanians of Greek descent living in Greece
was nil.
[21] New Turkish consul general pays visit to Alexandroupoli mayor
Athens, 8/8/1997 (ANA)
Newly-appointed Turkish consul general for Komotini Shakir Ozgan
Torunlar (phonetic spelling) paid a formal call on mayor of
Alexandroupoli Eleftherios Gioftsidis.
The mayor expressed his best wishes to the new consul general
over his duties and the hope for better ties of friendship
between the two countries.
The consul general said that there are problems in the
relationship between the two countries, but latest developments
are steps to solving them. His presence in the area would
contribute to this development, he said.
Greece wishes for a solution to any problems, as its actions and
stance show, and expects Turkey to do the same, Mr. Gioftsidis
said. "We cannot choose our neighbors, but since we are
neighbors, we must live peacefully and friendly," he added.
[22] Neolithic finds in Serres
Athens, 8/8/1997 (ANA)
Excavations by archaeologists working in the ruins of a
Neolithic settlement near Promachonas, Serres in northern Greece
have revealed parts of walls with wooden frames, ovens, pottery
and benches dating back to 5000 BC.
The excavations are being conducted jointly by Greek and
Bulgarian archaeologists, since the settlement spans the border
between the two countries.
According to the director of the Kavala Department of Classical
and Prehistoric Antiquities, the find is particularly
significant since it reveals a great deal about the cultural
relations which developed between the Aegean and the Balkan
region.
[23] Corfu prison escapees release hostage
Athens, 8/8/1997 (ANA)
A Corfu prison guard taken hostage by 16 escapees on Wednesday
afternoon was released early yesterday morning.
Of the eight Albanian and eight Greek prisoners who escaped by
threatening guards with an imitation pistol, three Greeks and
five Albanians were still at large yesterday. Police have thrown
a cordon around the island and are carrying out an extensive se
arch for the remaining escapees.
[24] Argolida orange processing plant misappropriates EU funds
Athens, 8/8/1997 (ANA)
European Union subsidies for orange processing and exports have
been misappropriated by the Argolida processing plant ABIK and
associates, representatives of cooperatives and orange growers
and employees with the Argolida Directorate of Agriculture.
Agriculture minister Stefanos Tzoumakas filed a law suit with a
public prosecutor in Athens yesterday. The minister also ordered
a systematic inspection of all orange processing plants in the
region, as well as in other orange producing areas across the
country.
In his law suit report, Mr. Tzoumakas said that though the EU
subsidy amounted to 14.80 drachmas per kilo, the processing firm
paid only 7.50 drachmas to orange growers.
[25] Kaklamanis lashes out against media, defends deputies' pay
increases
Athens, 8/8/1997 (ANA)
Parliament President Apostolos Kaklamanis yesterday lashed out
against the media over critical comments on the recent increases
in deputies' pay. The increases were designed to bring deputies
into parity with high-ranking judges.
He accused media owners and directors of acting as
"self-appointed prosecutors" of politicians and social groups,
and of owing billions of drachmas to the Greek people.
"The government has to inform the people what each one of these
gentlemen owes, what he does not pay to the state, what he does
not pay to the social insurance funds, with first and foremost
the funds of those working in the media," he said.
"Almost the whole of the press does not fulfill the mission of
disseminating information, but, rather, of commerce, small
trading, and various other activities which do not boost its
prestige," he added.
Also commenting on the issue, Justice Minister Evangelos
Yiannopoulos attributed newspaper reports to mistaken
information, claiming that the net increase amounted to no more
than 100,000 drachmas monthly.
Political Spring party leader Antonis Samaras stated that "the
political penalty of austerity which applies to all Greeks, must
apply to parliament also. He added that the decision of deputies
to "double" their pay showed how provocatively they were out of
touch with the people.
[26] Greek equities surge 1.08 pct, shrug off resistance at 1,600
Athens, 8/8/1997 (ANA)
Greek stocks yesterday powered ahead for a second straight
session to end 1.08 percent higher in moderate trade still
buoyed by sentiment that Athens will win its bid to host the
2004 Olympics.
The market easily kept its grip on resistance at 1,600 points
after sprinting through the stubborn technical and psychological
level several times in past weeks, and then slumping again.
The Athens general share index finished at 1,628.88 points from
1,611.46 in the previous session.
Turnover nosed upwards in a rising market to total 12.8 billion
drachmas from 11.8 billion drachmas and 9.1 billion in the last
two sessions.
Construction again led the market outperforming the general
index with a 2.74 percent jump. The sector soared 6.49 percent
on Wednesday more than recouping a 1.90 percent dive in the
previous session.
The market gained impetus on Wednesday gaining 1.68 percent
after players discounted a successful bid by Athens to host the
2004 Olympics, boosting investment. The International Olympic
Committee is due to decide in September.
In addition, bargain hunters elbowed into the market to take
positions in cheap stocks across the board following a phase of
summer vacation inertia.
Also aiding sentiment was news that July's consumer price
inflation year-on-year had slipped to 5.4 percent from 5.5
percent a month earlier.
The government forestalled a certain rise in inflation from
higher fuel prices due to the galloping dollar by lowering its
gasoline tax.
In yesterday's trade, the parallel market for smaller cap stocks
outperformed the main market to end 1.30 percent higher.
Sector indices mostly recorded gains. Heavily-weighted Banks
rose 1.22 percent, Insurance soared 1.27 percent, Investment
gained 1.08 percent, Industrials leapt 1.32 percent,
Miscellaneous crept up 0.35 percent and Holding rose 0.93
percent. Bucking the trend was Leasing, which slipped 0.09
percent.
State-run Hellenic Telecommunications Organization lost 20
drachmas to close at 6,275 drachmas from 6,295 in the previous
session.
Advances outstripped gains at 145 to 67 with 26 shares remaining
unchanged out of 238 traded.
The US dollar cooled off on the domestic market, interrupting
its feverish rise with a technical correction to close at 293.85
drachmas from the central bank's previous 295.05 daily fix. It
finished higher than Tuesday's 293.95 drachmas.
The dollar's unbridled ascent has aided Greek equities by
bolstering second-half profits for listed exporters.
Profit-takers on the dollar in markets abroad are believed to be
diverting part of their funds into the market.
Delta Dairies, a key exporter to the Balkans, gained 225
drachmas to finish at 3,700 drachmas from 3,475 drachmas.
The day's highest percentage gainers included Papoutsanis
(preferred), Piraeus Leasing, Ekte, and Viokarpet (preferred),
which all finished at the daily eight percent upper volatility
limit.
The biggest percentage losers were Sato (preferred), Eskimo
(preferred), Tria Alpha (common), and Fourlis (preferred).
Among blue chips National Bank of Greece ended at 37,625
drachmas, Ergobank at 17,895, Alpha Credit Bank at 20,170, Delta
Dairy (common) at 3,700, Hellenic Bottling at 10,800, Titan
(common) at 15,010, Intracom (common) at 13,400, and Aluminium
de Grece (common) at 19,240 drachmas.
[27] Greece gives Dr. 16 billion for roads, port, flood prevention
Athens, 8/8/1997 (ANA)
Public Works Minister Costas Laliotis yesterday endorsed credits
of 15,082,345,272 drachmas for roadbuilding and flood prevention
projects nationwide.
Mr. Laliotis also ordered the release of 1,361,500,000 drachmas
in funds for the purchase of computer equipment by Thessaloniki
port authority.
Among roadbuilding projects slated for tendering are:
* Highway and junction for Rapsani-Platamonas link, which forms
part of the major north-south highway linking Patras, Athens,
Thessaloniki and the northern border post at Evzones.
The new road has a budget of 13 billion drachmas.
* Improvements to a highway running along the Ionian Sea linking
Etoliko, Astakos, Mytikas and Vonitsa, budgeted at 820 million
drachmas.
* Construction of a stretch of motorway between Polygyro and
Ierissos, budgeted at 80 million drachmas.
[28] Ergobank's mutual fund assets rise 6.6 pct in July
Athens, 8/8/1997 (ANA)
Total assets of Greece's Ergobank Mutual Funds were 6.6 percent
higher on July 31 against June 30, bringing the total for
January-July to 515 billion drachmas, the firm said in a
statement.
The mutual funds management firm belongs to Ergobank, which is
listed on the Athens bourse and is a blue chip among domestic
and foreign investor.
Assets by sector managed by the firm on July 31 were as follows:
* Growth funds totaled 10.4 billion drachmas, marking a 930
percent jump from the beginning of the year, and a 7.6 percent
increase on June 31. Total yield on the beginning of the year
was 67.33 percent.
* Fixed income funds totaled 85 billion drachmas, up 67.4
percent on the beginning of the year and four percent on June
30. Accumulated yield from the start of the year was 7.06
percent.
* Money market funds totaled 420 billion drachmas, with a 6.35
percent yield from the beginning of the year.
[29] Athens hotels more than able to handle large world events
Athens, 8/8/1997 (ANA)
The hotels of Athens can provide more than enough beds for any
large sports event like the IAAF World Championships or the
Olympic Games of 2004, if Greece wins the bid, the Union of
Athens Hoteliers (UAH) said yesterday.
At a press conference, union president Gerassimos Fokas said
that recent press reports that Athens faced a lack of rooms
these days because of the championships were not true.
The hoteliers said they were likely to lose money since only
6,000 reservations were kept of the 10,000 initially made for
athletes, journalists and officials attending the championships.
At present, there are about 7,000 free beds in the greater
Attica area, or 10 per cent of the total potential of the
prefecture.
If the 2004 Olympic Games were held in Athens, hoteliers pledged
to reserve 75 per cent of their beds for those attending the
event, and added that in terms of building new hotels, Athens is
saturated. Many hotels in the city have closed in the last few
years and there is no expectation of a lack of beds, they said.
[30] Turkish town buys Greek salt from Lesvos
Athens, 8/8/1997 (ANA)
Businessmen in Pergamum, Turkey will buy 2,000 tons of salt from
the Hellenic Saltworks SA at Polychnitos, on the island of
Lesvos, the company's general manager, Dionyssis Xenos, said
yesterday.
Mr. Xenos welcomed the businessmen on the island and said the
only pending issue was the cost of transporting the salt to
Dikeli, five miles from Lesvos, before the agreement was signed.
He said it was expected to be done by the end of August.
Late yesterday delegations from the chambers of trade from
Dikeli and Lesvos met and discussed possibilities of further
trade. They will also finalize their business exchanges during
the reciprocated visit of Lesvos chamber representatives to
Dikeli in September.
The Turkish side also expressed interest in know-how for mild
sources of energy, and looked into Greek proposals for oil,
containers to freeze fish, and insulating materials among others.
End of English language section.
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