Athens News Agency: Daily News Bulletin in English, 98-08-14

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From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

[01] Drachma, equities slump in wake of int`l crisis

[02] Mass exodus expected for holiday weekend

[03] More fires rage throughout Greece

[04] UN-sponsored forum adopts resolutions on free movement, discrimination

[05] G. Papandreou to represent Athens at EU meeting in Austria

[06] Commission says OTE, 6 other EU phone utilities` long distance rates `excessive`

[07] Conference on `Fair Play` in sports

[08] Archdiocese of Athens assistance for refugee Kurds

[09] Mass transit fare in Athens to rise

[10] Groom caught in bridal gown with best man

[11] Economic News

[01] Drachma, equities slump in wake of int`l crisis

Athens, 14/8/1998 (ANA)

Domestic markets were badly hit, with the drachma losing substantial ground against most foreign currencies.

Equities shed 3.89 per cent to finish at 2,513.25 points; capital outflows were 500 million DMarks while short-term interbank rates rose by 1-1.5 percentage points, bankers and brokers said.

The Greek currency was 1.36 per cent off against the US dollar, 1.02 per cent down against the British pound, 0.72 per cent lower against the DMark and lost 0.78 per cent against the Ecu.

Currency outflows reached 500 million German marks, while short-term interbank rates rose by between 1 and 1.5 per cent.

Dealers noted that although domestic market sentiment remained positive, prolonged market turbulence abroad could reverse the climate.

Sector indices suffered heavy losses. Banks plunged 4.16 per cent, Leasing fell 2.61 per cent, Insurance ended 4.0 per cent off, Investment eased 3.26 per cent, Construction plummeted 6.07 percent, Holding fell 3.99 per cent and Miscellaneous ended 4.18 per cent lower.

The parallel market index for small cap companies ended 4.79 per cent off, and the FTSE/ASE 20 index fell 3.85 percent to 1,527.26 points.

Athens News Agency

[02] Mass exodus expected for holiday weekend

Athens, 14/8/1998 (ANA)

Authorities estimate that more than 110,000 people will leave the area by passenger ferries to the Aegean islands and Crete, while traffic police will implement several measures to facilitate the heavier than usual traffic on main highways leading out of the Greek capital.

Meanwhile, the Monastery of Panagia Soumela in western Macedonia will become the political and religious leadership's focal point for celebrations of the Dormition of the Theotokos, in honour of the patron saint of the Hellenic Armed Forces.

The monastery houses an icon of the Virgin Mary brought by refugee Greeks in 1923 from the Black Sea coast (Pontians) and from the original site of a historic monastery by the same name.

Archbishop of Athens and All Greece Christodoulos will lead the vespers service today, while President of the Republic Kostis Stephanopoulos will be present at tomorrow's service.

National Defence Minister Akis Tsohatzopoulos and Undersecretary to the Prime Minister's office George Paschalidis will be present as well.

The defence minister in his address, and in light of the celebration of the Armed Forces Day, said that the complete implementation of the joint defence doctrine between Greece and Cyprus is a common priority of the two countries, as it increases their security.

Mr. Tsohatzopoulos added that the maintenance of well-armed and trained armed forces is a deterrent to war and a guarantee for peace in the region.

Main opposistion New Democracy (ND) leader Costas Karamanlis will be present for the service tomorrow, while later in the day and on Sunday he will tour Grevena prefecture.

Finally, Political Spring (Pol.An) leader Antonis Samaras will visit the monastery on Saturday.

Athens News Agency

[03] More fires rage throughout Greece

Athens, 14/8/1998 (ANA)

A fire that broke out in Alagonia on Mount Taygetus was raging out of control at press time, while blazes in Halandritsa near Patra and on the island of Zakynthos were still in progress. Efforts to combat the fires were supported by fire-fighting aircra ft, including a massive Iliushin plane that arrived from Russia and is able to drop up to 50 tonnes of water.

On other fronts, a fire that broke out in Ano Souli, Marathon during the early hours Thursday was placed under control while a fire in Megalopoli, central Peloponnese, was reportedly subsiding.

Regarding alleged arsonists, the issue remained cloudy.

Georgios Anastassopoulos, who had previously admitted to six arsons, yesterday withdrew his initial confession, maintaining that he started only one such fire at the Koumaria site, western Peloponnese, and that three individuals he had initially named a s accomplices had no involvement in the fires. He claimed that he had implicated them after authorities pressured him.

Another suspect, Giorgos Ziombos, was charged with tossing a flaming cotton wad out of his vehicle in a forest near Diakofto, Peloponnese. He will be taken today before an investigating magistrate in Aegio.

Athens News Agency

[04] UN-sponsored forum adopts resolutions on free movement, discrimination

The United Nations-sponsored International You th Forum yesterday in Portugal has adopted new resolutions regarding free movement, discrimination and the right to create organisations.

This forum was attended by delegations from 150 countries, while UN Secretary General Kofi Annan addressed the assembly.

It also adopted a resolution regading the right of every Cypriot to free movement and residence in a "unified and dimilitarised Cyprus."

Furthermore, the forum adopted a resolution condemning states which discriminate against individuals based on their religion, gender, nationality and political ideology.

Finally, the forum adopted a resolution regarding the right of youths to create organisations "in Europe as well as elshwhere."

Athens News Agency

[05] G. Papandreou to represent Athens at EU meeting in Austria

Athens, 14/8/1998 (ANA)

Sources said the meeting this afternoon would focus on the major issues currently of concern to the EU and possibly institutional matters, such as the number of votes held by member-states at the Council of Ministers council and representation by EU Commissioners.

Athens News Agency

[06] Commission says OTE, 6 other EU phone utilities` long distance rates `excessive`

BRUSSELS, 14/8/1998 (ANA - M. Spinthourakis)

The conclusion comes after an initial review of the rates policy applied by telephone utilities in Greece, Austria, Luxembourg, Portugal, Italy, Ireland and Finland.

The Commission said the rates charged by the above countries' utilities for long-distance calls are not only unrealistic, considering the current cost of global telecommunications, but essentially aim at preserving secrecy in their rates policy.

In the Commission agencies' assessment, rates charged by the seven phone utilities telephone connections with other EU countries are double or even triple "the actual value of the telephone connection," as it was estimated.

Athens News Agency

[07] Conference on `Fair Play` in sports

Athens, 14/8/1998 (ANA)

The conference will be attended by several noted university professors and experts from various European Olympic committees.

Organisers believe the conference can stimulate interest among the sports world, since over the past decade discussions on audience behaviour at athletic events has been on the forefront throughout Europe.

Athens News Agency

[08] Archdiocese of Athens assistance for refugee Kurds

Athens, 14/8/1998 (ANA)

The Archdiocese of Athens, in cooperation with local Churchs and ecclesiastical societies, will initially provide breakfast and in a few days dinner as well.

Athens News Agency

[09] Mass transit fare in Athens to rise

Athens, 14/8/1998 (ANA)

Bus and trolley fares will increase from 100 to 120 drachmas, while the special rate fare will increase from 50 to 60 drachmas. Airport express-bus fares will rise from 200 to 250 drachmas from 5 a.m. through midnight and to 500 drachmas from 1 a.m. to 5 a.m.

However, the price of bus/trolley frequent user cards will drop from 6,000 to 5,000 drachmas, while the price of bus/trolley/subway combination cards remains at 8,000 drachmas.

Finally, ticket fares for transportation to one or two continuous zones remain the same, as the regular fare for three-zone transportation rises from 150 to 180 drachmas, with the special rate fares hiked from 50 to 60 drachmas.

Athens News Agency

[10] Groom caught in bridal gown with best man

Athens, 14/8/1998 (ANA)

The Irakleio couple, who met and fell in love several years ago, decided to tie the knot after a turbulent relationship. The wedding date was set for last Saturday, in fact.

On the eve of the wedding, the man and woman went out separately with their friends to celebrate, keeping the tradition that the groom should not see the bride the day before the wedding.

Late Friday night the bride and her friends, who wanted to see the wedding gown, went to the soon-to-be newlyweds' home. It was there that the bride and her friends caught the groom having his own "bachelor party", dressed in the bridal gown and in the arms of his best man.

The bride, whose name was not made public, was later hospitalised.

Athens News Agency

[11] Economic News

Athens, 14/8/1998 (ANA)

Greek equities were hit by renewed turbulence in Russian markets and a fresh plunge in international capital markets yesterday.

The Athens general share index ended 3.89 percent lower at 2,513.25 points with turnover at 50.3 billion drachmas.

Sector indices suffered heavy losses. Banks plunged 4.16 percent, Leasing fell 2.61 percent, Insurance ended 4.0 percent off, Investment eased 3.26 percent, Construction plummeted 6.07 percent, Holding fell 3.99 percent and Miscellaneous ended 4.18 perc ent lower.

The parallel market index for small cap companies ended 4.79 percent off, and the FTSE/ASE 20 index fell 3.85 percent to 1,527.26 points. Broadly decliners led advancers by 208 to 28 with another 15 issues unchanged.

Elfico, Klaoudatos, Galis, Lanakam, Sportsman, Inerga, Imperio, Halyps Cement, Delta Informatics and Development Invest scored the biggest percentage gains.

Dorian Bank, Allatini, Boutaris, Hellenic Textiles, Kreka, Rokas, Atemke, Bank of Athens, TEV, Minerva and Daring suffered the heaviest percentage losses, ending at or near the daily 8.0 percent limit down.

National Bank of Greece ended at 48,200 drachmas, Ergobank at 28,120, Alpha Credit Bank at 25,680, Ionian Bank at 16,710, Hellenic Telecoms at 7,510, Delta Dairy at 3,620, Intracom at 12,250, Hellenic Petroleum at 2,675 and Titan Cement at 20,900.

Olympic Airways appoints new executives: Olympic Airways, which is carrying out a deep restructuring in order to survive, has appointed a series of new executives to management positions.

The national carrier's board late on Wednesday announced the following appointments:

• General director of ground handling, Theodoros Kombolis
• General director of marketing, M. Katsikas
• General director of commercial transport, Leonidas Papastergiou
• Informatics director, N. Faldamidis
• Director of subsidiaries, D. Kostopoulos
• Public relations director, O. Vlamis

Also endorsed at the board meeting were the creation of rest areas for crews manning four new Airbus 340s, which the airline recently purchased.

Gov't orders temporary closure of 34 companies for tax evasion: The finance ministry yesterday ordered 34 enterprises around the country to close for periods ranging from five days to a month as a penalty for tax evasion.

The ministry said in a statement that most of the firms were bars, cafeterias, night clubs, tavernas and hotels.

Fuel-related violations reported: The financial crimes squad ascertained fuel-related violations by 40 businesses and enterprises during checks over the last two months

Violations were primarily noted at petrol stations for not issuing retail sale receipts as well as other enterprises, mainly hotels, which were using heating oil for purposes other than those specified by the law.

Specifically, in June the squad cited 16 petrol stations for not issuing retail sale receipts for a total quantity of 245,200 litres of heating oil.

Athens News Agency

The "Bulletin" will not circulate tomorrow, Saturday, due to the Dormition of the Theotokos (Virgin Mary) religious holiday. It will reappear as usual on Monday.

Athens News Agency

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