Athens News Agency: Daily News Bulletin in English, 99-09-29

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

CONTENTS

[01] Clinton cites hope for Cyprus breakthrough prior to talks with Ecevit

[02] State telecom okays Dr 780 bln investment plan

[03] Stocks rebound but uncertainty remains

[04] Yield noses down in T-bill auction

[05] Greece, Ukraine widen transport links

[06] Syros shipyard gets OK for IPO

[07] Red tape eased for earthquake donors

[08] Greek per capita GDP lowest in EU

[09] Commercial Bank of Greece seeks alliance

[10] Athens Foreign Exchange

[11] Human Rights Watch condemns deaths in Turkish prison riots

[12] White House unveils Clinton itinerary for visit to region

[13] Tsohatzopoulos cites ESP concern over delay of reconstruction efforts in Balkans

[14] High-ranking gov't meeting focuses on 2004 Olympics preparations

[15] Berlin officially announces Schroeder visit to Athens

[16] Olympiakos tops Norway's Molde

[17] To the "Daily Bulletin" subscribers

[18] Gov't: Earthquake rumours 'rubbish'

[19] Aftershock

[20] Dec. 31 a holiday throughout entire financial sector

[01] Clinton cites hope for Cyprus breakthrough prior to talks with Ecevit

WASHINGTON, 29/09/1999 (ANA - T. Ellis)

"What we've been working for all along is the resumption of UN-sponsored talks (on Cyprus) without preconditions, and we hope that somehow we can find a way to get there," he told reporters during the reception of Mr. Ecevit at the Oval Office.

Other issues on the agenda would include issues related to the devastating earthquake in Turkey on Aug. 17, the Cyprus issue, an improvement of Greek- Turkish relations, Turkey's European prospects, human rights, and Turkey's economic restructuring.

"This meeting is taking place in an atmosphere of hope, in a positive atmosphere, which recognises not only our long-time strategic parntership with Turkey but recent developments and this prime minister's leadership, and I appreciate it very much," he said.

The US president also said he was satisfied with the progress recorded in recent weeks in relations between Greece and Turkey.

Regarding Turkey's relations with the EU, Mr. Clinton noted a certain progress, with a change of attitudes in some European capitals. He expressed a view that "the moves which have been made for an improvement of Greek-Turkish relations have helped, and

I believe greater mobility in these directions will eventually get to the result that Turkey wants".

Finally, he said he has all along shown strong support for Turkey's integration with Europe.

Meanwhile, the Cyprus News Agency reported that US Assistant Secretary of State for European and Canadian Affairs, Marc Grossman, as saying that in his meeting with Mr. Ecevit yesterday, the US president would reiterate that progress on a Cyprus settlme nt should be made as quickly as the conditions to work on it are as good as they have been in a long time.

Mr. Grossman repeated Washington's support to a statement by the G8, of which it is a member, calling for unconditional talks on the Cyprus question this autumn.

Greece pessimistic over chance for Cyprus progress : Athens noted yesterday that recent statements by Mr. Ecevit did not allow optimism on the prospects of resolving the protracted Cyprus problem.

Government spokesman Dimitris Reppas said that the government was "pessimistic" about progress on the issue in the near future after the press reported of Mr. Ecevit stating that progress on the Cyprus issue was a "chimera", if Greece and Turkey did not first sit down to discuss problems in the Aegean.

"It doesn't allow for any optimism," Mr. Reppas said. "It indicates Turkey is sticking to its old positions".

The key to resolving the dispute, he said, lies with Turkey, while he expressed a hope that the international community could exert pressure on Turkey to move forward on Cyprus.

As far as Greek-Turkish relations went, Mr. Reppas said that international law could provide Greece and Turkey with solutions to thorny issues, adding that Turkey's discovery of problems in the Aegean should be referred to the International Court of Jus tice at The Hague.

He said it was natural to expect the US and other countries to express their desire to see Greek-Turkish rapprochement, adding that any talks being held in this context should be held through the prism of the rules of international law.

Athens News Agency

[02] State telecom okays Dr 780 bln investment plan

Athens, 29/09/1999 (ANA)

Under the programme, state-controlled OTE will develop its infrastructure, services and technology.

Among the corporation's plans are to digitalise up to 97 percent of its network and up to 100 percent of network links.

It also intends to continue the introduction of value added services and modernise its access network, chiefly in areas with a high density of businesses.

Athens News Agency

[03] Stocks rebound but uncertainty remains

Athens, 29/09/1999 (ANA)

The general index ended 5.83 percent higher at 5,591.28 points.

Turnover rose to around 430 billion drachmas from 272.744 billion drachmas a day earlier and 362 billion drachmas on Friday. Both value and volume had declined in recent sessions.

Despite the market's rise, which was led by the heavily weighted banking sector, analysts declined to forecast the short-term outlook after a steep rise and sharp drop followed by yesterday's rebound.

Sector indices ended as follows: Banking (+7.29 pct), Construction (+3.19 pct), Insurance (+6.25 pct), Miscellaneous (+3.82 pct), Leasing (+5.92 pct), Investment (+0.39 pct), Industrials (+5.20 pct) and Holding (+6.57 pct).

The parallel market index for smaller capitalisation stocks dropped 2.02 percent while the FTSE/ASE 20 index for blue chips and heavily traded stocks gained 9.85 percent to finish at 2,991.66 points.

Of 308 stocks traded, advances outpaced declines at 192 to 114 with two shares remaining unchanged.

A total of 53 shares ended at the daily 8.0 percent upper volatility limit and another 63 ended at the daily limit down, which is also 8.0 percent.

The day's most heavily traded stocks were Hyatt Regency and Hellenic Telecommunications Organisation.

In its second day of trade on the main market of the Athens bourse, Hyatt Regency gained 65.1 percent. In its trading debut on Monday, it had started at 7,000 drachmas to close up 99 percent at 13,930 drachmas.

National Bank of Greece ended at 25,700 drachmas, Commercial Bank at 28,940, Alpha Credit Bank at 25,100, Minoan Lines at 7,500, Intracom (common) at 27, 000, Titan Cement (common) at 36,200, Hellenic Petroleum at 6,145, Hellenic Telecommmunications Organisation at 7,075 and Panafon at 8,605 drachmas.

Bonds end flat in thin trade, drachma stable : Secondary bond market prices yesterday finished at the same level as the previous session after edging down early in trade, and the drachma was free of pressure.

Electronic trade totalled 8.0 billion drachmas from 1.0 billion drachmas in the previous session and 39 billion drachmas on Friday.

The benchmark 10-year bond, which was still trading below par, showed a yield of 6.62 percent, the same as a day earlier, from 6.59 percent in the two sessions before that.

The 10-year paper's yield spread over German bunds was 158 basis points from 159 basis points a day earlier and between 151 and 152 basis points on Friday.

In the foreign exchange market, the drachma was calm in the wake of pressure in recent sessions linked to a slump on the Athens Stock Exchange and institutional investors abroad closing their drachma positions.

The Bank of Greece made no intervention yesterday after selling around 120 million euros to prop up the drachma a day earlier and around 300 million euros in the final three sessions of last week.

At the central bank's daily fix, the euro fell against the drachma.

The European currency was set at 327.900 drachmas from 328.000 drachmas in the previous session and 327.600 drachmas on Friday.

The dollar also dropped versus the drachma.

At the fix, it was set at 312.880 drachmas from 313.890 drachmas a day earlier and 312.350 drachmas on Friday.

Athens News Agency

[04] Yield noses down in T-bill auction

Athens, 29/09/1999 (ANA)

Primary dealers submitted bids totalling 219 billion drachmas, oversubscribing the auction by about 2.7 times. Accepted were 93 billion drachmas in bids, the ministry said in a statement.

Primary dealers received a commission of 0.45 percent for absorbing the paper, the statement said.

Athens News Agency

[05] Greece, Ukraine widen transport links

Athens, 29/09/1999 (ANA)

The two countries are to increase the number of free truck transit permits to 2,000 annually from 1,150.

The Ukrainian side welcomed a Greek proposal that a coordinating committee should be set up by the two countries to develop overland and rail links between Alexandroupoli, Odessa, Kiev and Helsinki.

Athens News Agency

[06] Syros shipyard gets OK for IPO

Athens, 29/09/1999 (ANA)

The company plans to raise its share capital and hold an initial public offer.

Athens News Agency

[07] Red tape eased for earthquake donors

Athens, 29/09/1999 (ANA)

The measure, introduced by Deputy Finance Minister George Drys, applies retroactively from September 10. The bank that receives the donation will withold the tax, which is then to be deducted from the donor's income, bypassing the need for a statement from the tax office that the cash was deposited.

Athens News Agency

[08] Greek per capita GDP lowest in EU

BRUSSELS, 29/09/1999 (ANA/M.Spinthourakis)

Per capita GDP in Greece is roughly equal to that of Slovenia, at 67 percent of the EU average, and the Czech Republic, at 65 percent of the average, said Eurostat's survey, which includes the 10 eastern and central European countries being considered for EU entry.

The region in the EU's member states with the lowest per capita GDP is Epirus at 44 percent of the EU average.

Athens News Agency

[09] Commercial Bank of Greece seeks alliance

Athens, 29/09/1999 (ANA)

Commercial Bank governor Konstantinos Georgoutsakos told a news conference in Thessaloniki that the procedures were being completed for the selection of an international consultant to find a partner bank and help draft the final alliance contract.

Among Commercial's plans were to purchase a branch belonging to its former subsidiary Ionian Bank in London and widen its activities; expand its presence in Cyprus through the creation of units in Nicosia and Paphos; and upgrade operations at its German subsidiary.

Mr. Georgoutsakos said the bank's January to September profits were estimated at 50 billion drachmas from 15 billion drachmas in the same nine- month period of 1998, up 240 percent.

Athens News Agency

[10] Athens Foreign Exchange

Athens, 29/09/1999 (ANA)

Parities in Drachmas

Banknotes             Buying  Selling
US Dollar             310.377 317.573
Can.Dollar            212.010 216.926
Australian Dlr        201.862 206.542
Pound Sterling        511.634 523.496
Irish Punt            413.016 422.592
Pound Cyprus          562.464 575.505
Pound Malta           727.696 758.017
Turkish pound (100)     0.061   0.064
French franc           49.588  50.738
Swiss franc           202.864 207.567
Belgian franc           8.063   8.250
German Mark           166.312 170.168
Finnish Mark           54.708  55.976
Dutch Guilder         147.605 151.027
Danish Kr.             43.787  44.802
Swedish Kr.            37.718  38.592
Norwegian Kr.          39.805  40.728
Austrian Sh.           23.638  24.186
Italian lira (100)     16.800  17.189
Yen (100)             292.015 298.786
Spanish Peseta          1.955   2.001
Port. Escudo            1.623   1.661

Foreign Exchange      Buying  Selling
New York              310.377 317.573
Montreal              212.010 216.926
Sydney                201.862 206.542
London                511.634 523.496
Dublin                413.016 422.592
Nicosia               562.464 575.505
Paris                  49.588  50.738
Zurich                202.864 207.567
Brussels                8.063   8.250
Frankfurt             166.312 170.168
Helsinki               54.708  55.976
Amsterdam             147.605 151.027
Copenhagen             43.787  44.802
Stockholm              37.718  38.592
Oslo                   39.805  40.728
Vienna                 23.638  24.186
Milan                  16.800  17.189
Tokyo                 292.015 298.786
Madrid                  1.955   2.001
Lisbon                  1.623   1.661

Athens News Agency

[11] Human Rights Watch condemns deaths in Turkish prison riots

NEW YORK, 29/09/1999 (ANA)

The organisation said it had called on Turkish Justice Minister Hikmet Sami Turk to ensure that units intervening to quell current unrest at the prison use only that force which is necessary to perform their duties and take all steps to respect and pres erve human life.

Official statements attributed the disturbance to the discovery of an escape tunnel by guards, but prisoners' relatives believe inmates' protests against overcrowding sparked the intervention. At least one member of the prison staff was hospitalised.

Tension is mounting in other prisons in Turkey as well, including facilities at Canakkale, Bartin and two Istanbul prisons, where guards have been taken hostage during solidarity protests.

Counting yesterday's toll, 27 prisoners have been beaten to death in Turkish prisons since 1995.

Athens News Agency

[12] White House unveils Clinton itinerary for visit to region

WASHINGTON, 29/09/1999 (ANA - T. Ellis)

Mr. Clinton will also visit Turkey, Bulgaria and Italy during his tour, beginning with Sofia.

He will then travel to Ankara for bilateral contacts with the Turkish government and afterwards to Istanbul to attend an OSCE summit.

The US president will make his next stop in Italy to attend the conference of the so-called "third path" group, organised by Italian Prime Minister Massimo D'Alema on Nov. 21-22. Finally, Mr. Clinton will conclude his tour of the region with a visit to Greece.

Athens News Agency

[13] Tsohatzopoulos cites ESP concern over delay of reconstruction efforts in Balkans

SKOPJE, 29/09/1999 (ANA)

Mr. Tsohatzopoulos was speaking at the end of the first day of the ESP's two-day conference on the issue of "Developments in Relation to the Stability Pact for the Balkans."

"We want to make it clear that, indeed, the war has ended, but the responsibility of creating peace in the region continues to exist. The Stability Pact can become an important factor for peace in the region. We should invest in it with the creativity, with the economic means of Europe and the European Union's initiatives. But, at the same time, we should realise that the countries of southeastern Europe cannot be merely an object of aid.

"They should also unite their forces in the process of their economic and social reconstruction to enable democratic and self-sufficient countries to be created in the Balkans," he said.

Mr. Tsohatzopoulos said the EU's decision to create a necessary organisation to implement the Balkan political reconstruction anticipated its headquarters to be in Thessaloniki. It is a unique opportunity, he added, with the creation of support institutions, a kind of "think tank" in Thessaloniki with the participation of the Balkan countries.

"Consequently, what I propose is the creation of a 'think tank' in Thessaloniki and support for the operation of the Balkans Reconstruction Organisation with representatives from all the Balkan countries. And, secondly, the tabling and processing of specific priorities - social, economic and cultural, with the political agencies in the wider region, which will contribute to the strengthening of this policy," he added.

The ESP members and representatives of the socialist and social democrat parties from Balkan countries will arrive in Pristina for a briefing on the course of implementation for KFOR's work.

Athens News Agency

[14] High-ranking gov't meeting focuses on 2004 Olympics preparations

Athens, 29/09/1999 (ANA)

The meeting was also attended by the executives of the 2004 organisational committee.

Sources said, however, that Mr. Simitis expressed some concern over delays in various sectors, particularly in the large projects.

Discussions dealt with issues related to the projects for the Olympic Village, northwest of Athens, for which all geological studies are now completed, indicating that there is no problem of a seismic risk in the area. Other issues touched on hospitalit y and communication, and there was reference to the presentation of the 2004 Olympic emblem at Zappeion Hall on Thursday.

Ms Papazoi said the government also had confidence in the organisational committee.

Athens News Agency

[15] Berlin officially announces Schroeder visit to Athens

BERLIN, 29/09/1999 (AFP/ANA)

Mr. Schroeder will meet with President Kostis Stephanopoulos and Prime Minister Costas Simitis, with whom he will discuss a wide range of European issues, government spokesman Uwe-Karsten Heye said.

Greece's drive to join the Economic and Monetary Union and relations between the EU and countries of SE Europe will also be on the agenda, he added.

The visit is in the framework of events marking the 75th anniversay of the founding of the Greek-German Chamber of Commerce and Industry in Athens.

"Germany has long been Greece's most important trading partner," Mr. Heye added.

Athens News Agency

[16] Olympiakos tops Norway's Molde

Athens, 29/09/1999 (ANA)

Athens News Agency

[17] To the "Daily Bulletin" subscribers

As you are aware, technological developments in the mass media sector are rapid. Today, all the news services are offered online. The "electronic newspaper" supplements, and in many cases replaces, the printed newspaper. Contact via e-mail also affords the ability for direct communication.

These developments, as many others, have also influenced our own work here at Athens News Agency (ANA), which is adapting all its services to the new technology. In the framework of these changes, the "Daily Bulletin" will - as of Jan. 2, 2000 - be conv erted from a printed to an electronic medium for our subscribers.

With this change, our subscribers will: a) receive our news items online, at the moment the news is breaking. b) receive the next day's "Daily Bulletin" on their screens at midnight, with the ability to print it out if they wish or simply view on screen. c) receive the "Bulletin" either via the paid ANA services on the Internet, or via e-mail sent to a subscriber's e-mail address. d) also have the ability, for a small surcharge, to utilise the ANA's English-language data bank, which contains all the news items appearing in the "Daily Bulletin" since 1992.

We believe that these changes, which correspond with the new function of the international and national news agencies, will satisfy subscribers' needs for immediate and credible information. In order to subscribe to this service, you must have a PC and a modem, or an e-mail address.

All who wish to continue receiving our services must prepare for these changes which, as stated, will commence on Jan. 2, 2000.

Takis Mantis, the director of ANA's informatics and telecommunications department, is at your disposal for any technical information on tel: 64.00.560 and 64.00.038. I sincerely hope all our subscribers will adapt to these necessary technological changes.

Andreas Christodoulides

ANA General Director

Athens News Agency

[18] Gov't: Earthquake rumours 'rubbish'

Athens, 29/09/1999 (ANA)

"Our position is that earthquake prediction is impossible. If any earthquake takes place, it will be completely non-predictable, as with all earthquakes," he said.

Regarding scientific data produced by the controversial VAN team of seismic researchers, he said such information was not useful in practice.

On Monday, Minister Costas Laliotis dismissed a letter regarding such data from the team.

An earthquake measuring 5.9 on the Richter scale, with an epicentre NW of Athens, on Sept. 7, killed more than 140 people.

Athens News Agency

[19] Aftershock

Athens, 29/09/1999 (ANA)

The quake, which had the same epicentre as the Sept. 7 quake, registered 3.9 on the Richter scale and was described as an aftershock to the major tremor.

Athens News Agency

[20] Dec. 31 a holiday throughout entire financial sector

Athens, 29/09/1999 (ANA)

The above decision will be regulated through a relevant amendment which has been tabled in Parliament to handle possible prob-lems which could be created in Greece and abroad in electronic systems due to the so-called "millen-nium bug."

Athens News Agency

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