Athens News Agency: News Bulletin in English, 07-02-22

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

CONTENTS

[01] Karamanlis, Papadopoulos discuss Cyprus issue, Turkey and oil exploration

[02] Gov't on education reform draft bill

[03] PASOK criticises government regarding universities

[04] Protest rally held outside Parliament over bill on universities

[05] POSDEP professors to continue their strike action

[06] PASOK to vote against framework law for higher education

[07] Joint meeting of top PASOK organs on March 1

[08] Parliamentary Plenum concludes debate on constitutional reform

[09] Parliament considers legal framework for opinion poll firms

[10] Synaspismos to hold congress on March 17-18

[11] Foreign minister meets head of LAOS party

[12] Archbishop Christodoulos to visit Cyprus

[13] Ambassador Vassilakis hosts dinner in honour of new UNSG

[14] FinMin says govt to stick to its economic programme in 2007

[15] FinMin holds informative meeting with Evros deputies on EU Solidarity Fund compensation

[16] FM Bakoyannis: No risk for Greek investments in Turkey

[17] National Bank Group increases net profits by 36 pc in 2006

[18] PASOK calls for interest rate ceiling on consumer loans

[19] Greek current accounts deficit up 61.5 percent in 2006

[20] Greek harmonised inflation 3.0 percent in January, yr/yr

[21] Hellenic Petroleum says net profit down 22 pct in 2006

[22] Intrasoft International signs three contracts worth 1.4 mln euros

[23] Sprider reports improved 2006 results

[24] Yalco to build 5.9-mln-euro logistics center

[25] Lyberis Publications to issue 5-mln-euro bond loan

[26] Building costs jump 6.9% in Jan., yr/yr

[27] Greek stocks drop 1.09 pct on Wednesday

[28] ADEX closing report

[29] Greek bond market closing report

[30] Foreign Exchange Rates - Thursday

[31] Transport minister opens new Penteli Station on Proastiako railway

[32] Military parade marks 94th anniversary of Ioannina's liberation

[33] Site of ancient theatre discovery to be expropriated

[34] Book focuses on Alexander the Great in Persian poetry

[35] New Prefectural Union president elected

[36] Water reserves depleted in Thessaly, local officials warn

[37] Light earthquakes in Pieria, no cause for concern say seismologists

[38] Fewer road accidents during Clean Monday break, police report

[39] Aristotle University eyes further cooperation with Chinese colleges

[40] Greece to host 'SportAccord 2008' exhibition

[41] Athens mayor, sports minister discuss Euroleague Final Four

[42] Cyprus protests to UN airspace violations by Turkey

[43] Cypriot political parties exchange views with PACE President

[44] PACE President meets Cyprus' religious representatives

[45] Van der Linden: The future of Cyprus must be a common one

[46] Cyprus' Griffon vulture on verge of extinction

[01] Karamanlis, Papadopoulos discuss Cyprus issue, Turkey and oil exploration

"We cannot see progress where it does not exist," Karamanlis underlined, while stressing that Athens was working actively in this direction.

He also reaffirmed Greece's support for efforts to achieve a just and viable solution to the Cyprus issue, based on the decisions of the United Nations and European values and principles.

Karamanlis said his talks with Papadopoulos had focused on the Cyprus issue, relations with Turkey and oil exploration rights in the Mediterranean. The Cyprus president said the meeting, which was also attended by Greek Foreign Minister Dora Bakoyannis and Cypriot Foreign Minister George Lillikas, was yet another routine contact in the framework of cooperation between the two governments.

In response to press questions, Papadopoulos referred to the problems that arose with Turkey after Cyprus announced plans to hold a tender for oil exploration rights in the Mediterranean waters off its southern coast, repeating that Cyprus was exercising its sovereign territorial rights on the basis of international law.

The Cyprus president confirmed that the issue was discussed with Karamanlis, even though this was not on the agenda for the meeting. "It would be unnatural if it were not discussed," he said.

The next step would be decided later, if and when oil reserves were discovered, he added.

Questioned about an agreement with Lebanon to delineate an exclusive economic zone for the oil exploration deals - and why Athens had not been informed beforehand - the Cyprus presi-dent said that the negotiations with Lebanon had proceeded extremely rapidly, so that Athens was only informed after the deal was signed.

On the same issue, Karamanlis said that the Cyprus Republic could exercise its rights under international law, just as any other sovereign state.

Commenting on Turkey's reaction, the Greek premier stressed that Athens wished to normalise Greek-Turkish relations but that Turkey was also judged by its behaviour. He pointed out that Turkey was bound on a European level to maintain good neighbourly relations and avoid resorting to tension and threats.

Ankara reacted angrily when Cyprus announced plans to open a tender for oil exploration licensing rights on February 15, on the grounds that Greek-Cypriots will claim all potential benefits for themselves and deny them to the Turkish-Cypriots in the occupied northern third of Cyprus. It urged eastern Mediter-ranean countries to avoid bilateral agreements for energy exploration with the Cyprus government.

Cyprus has signed accords defining its continental shelf with Egypt and Lebanon. Effectively delineating sea boundaries for economic exploitation, the agreements have allowed Nicosia to define 13 sea zones where further research will be carried out.

Asked whether Greece and Cyprus were also holding talks on delineating sea borders and defining exclusive economic zones, both leaders replied that all issues were discussed between Athens and Nicosia. According to Karamanlis, however, "other factors linked to these issues are also taken into account".

Also high on the agenda for the Karamanlis-Papadopoulos talks were developments within the European Union, both in terms of Turkey's progress toward fulfilling EU accession criteria and with respect to a regulation for direct trade with the Turkish-Cypriots in occupied northern Cyprus, which is still pending.

Papadopoulos said that Cyprus is working systematically to achieve the goals of the agreement of 24th April 2004, which called for financial assistance to the Turkish-Cypriot com-munity and economic integration that will lead to the island's re-unification.

Karamanlis reiterated that the Turkish-Cypriot community's development should not deepen the division of the island but take place in ways that favour re-unification, while stressing that the so-called "isolation" of Turkish-Cypriots was "the result of invasion and occupation".

The two leaders also discussed the prospects of implementing the "July 8 Agreement" brokered last year by UN under-secretary general Ibrahim Gambari, under which the Cyprus government and the head of the Turkish-Cypriot community Ali Talat agreed to begin a process of bicommunal talks on issues affecting the day-to-day life of people on Cyprus, concurrently with more difficult issues linked to a comprehensive settlement of the Cyprus problem.

The Cyprus president arrived in Athens on Tuesday night on a working visit, during which he will also meet the heads of the political parties in Athens and Hellenic Republic President Karolos Papoulias.

PASOK leader

Main opposition Panhellenic Socialist Movement (PASOK) leader George Papandreou held talks on Wednesday with visiting Cyprus President Tassos Papadopoulos.

Addressing the press after the meeting, Papandreou called on Turkey to respect the sovereign rights of neighbouring countries and those which are EU members.

"In international relations there is a 'red line' and this is the respect of states' sovereign rights. Turkey must at last respect the sovereign rights of neighbouring countries and of course those of EU member states," Papandreou noted, in reference to Turkish threats after Cyprus announced plans to hold a tender for oil exploration rights in the Mediterranean waters off its southern coast.

The main opposition leader also expressed his concern because, as he said, "the Greek government does not occupy itself seri-ously with the Cyprus issue", adding that there should be "a common strategy" on the problem.

KKE leader

Cyprus President Tassos Papadopoulos held talks with Communist Party of Greece (KKE) Secretary General Aleka Papariga on Wednesday, who reiterated her party's position against the Annan plan.

"We are at the side of the people of Cyprus and with all the potential we have we are seeing to it that the Annan plan will not pass through the window again," Papariga said.

The KKE leader further said that "the triangle U.S.-Britain-Turkey is interested, with every opportunity, in bringing back a similar plan or even the Annan plan itself," adding that "the European Union, on its part, is creating a Scottish shower, since its position on the issue of Cyprus is shaped in accordance with the position observed by the member-states that play a specific role in the EU."

However, Papariga said that the fact that "it is admitted by many now that the Annan plan is something dead" is positive.

As regards the oil issue, KKE's secretary general said that "examining how it will exploit the wealth belonging to it is part of the framework of the sovereign rights of every country."

Coalition party leader

Cyprus President Tassos Papadopoulos and Coalition of the Left, Movements and Ecology (Synaspismos) party leader Alekos Alavanos held talks on Wednesday and, speaking after the meeting, Alavanos called for the activation of the Papadopoulos-Talat agreement and of the committees that it anticipates.

"In this way, not only will the daily issues be raised, but the issues concerning a solution to the issue of Cyprus as well," Alavanos said, adding that it is important that "the other side assumes its responsibilities."

Cypriot President Tassos Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat agreed on July 8th 2006, during a meeting in the presence of UN Undersecretary General for political affairs Ibrahim Gambari, to begin a process of bicommunal discussions on issues that affect the day to day life of the people and concurrently those that concern substantive issues, both contributing to a comprehensive settlement to the Cyprus problem.

Following the agreement, senior aides of the two leaders in Cyprus, Tasos Tzionis and Rasit Pertev, began meetings in Moller's office in the UN-controlled buffer zone to work out the modalities for the implementation of the July agreement.

Cyprus has been divided since 1974 when Turkish troops invaded and occupied the island's northern third.

Referring to the issue of oil, the Coalition party leader said that "Turkey must stop disputing the International Law of the Sea at some time and, indeed, in connection with two different countries, the Republic of Cyprus and Egypt. In addition, it is important that the European Union also observes an active stance."

[02] Gov't on education reform draft bill

Alternate government spokesman Evangelos Antonaros told reporters at his regular daily press briefing that "time is never wasted in dialogue", whereas changes aim squarely at impro-ving the quality of tertiary public education.

He also dismissed criticism of "insufficient measures", expres-sed by main opposition PASOK leader George Papandreou a day earlier, charging that critics of the govern-ment's initiative "are the same people that didn't table any proposal or who submitted proposals that merely drew acerbic comments.

"For instance, I don't know what Mr. Papandreou proposes for so-called 'eternal students'," Antonaros said.

[03] PASOK criticises government regarding universities

'PASOK's vision for the future of Greece is closely linked to a new education system,' a decision taken unanimously by the Political Council said.

The party's Political Council launched a strong attack against the government, accusing it of 'consciously showing disdain to state education, giving it inadequate financing, dealing with it with partisanship and authoritarianism and placing the co-management of education issues to the Public Order Ministry.'

The main opposition party also accused the government that 'it chose polarization and ignored PASOK's willingness for consensus so that the changes in the education system proceed' and that 'it divided society.'

[04] Protest rally held outside Parliament over bill on universities

The speakers accused the government and the main opposition Panhellenic Socialist Movement (PASOK) over their stance regarding education issues.

With the help of a crane belonging to Nikea municipality and which was driven by KKE deputy Takis Tsiogas, the demonstrators took down a traffic camera which was on a pole at the junction of Panepistimiou, Amalias and Vasilissis Sofias Streets.

A PAME delegation later handed over the traffic camera to Parliament.

[05] POSDEP professors to continue their strike action

POSDEP president Lazaros Apekis and Secretary-General Yiannis Maistros, in a press conference they gave on Wednesday, rejected all the adjustments and termed them as being 'negative.'

[06] PASOK to vote against framework law for higher education

Papandreou asked PASOK MPs to present the party's positions and proposals concerning autonomy, funding and assessment for universities in Parliament, while highlighting the conser-vative approach taken by ruling New Democracy.

He stressed, however, that the draft bill should be voted against in principle, on the articles and as a whole.

According to Papandreou, the draft bill prepared by the government reflected conservative viewpoints in ND and throughout the world, which choose issues that mobilise the more conservative elements in society so that they determine the agenda.

He also claimed that the measures in the bill did not address the top priority issues for education.

The main opposition leader questioned the value of opinion polls on this issue, claiming that the questions posed in surveys presented false dilemmas, so that the answers could not be taken as a guide to public opinion.

"What matters is to systematically reveal the spin and populist character of the government's policies," he said.

Papandreou stressed in his address to the meeting that university autonomy was the fundamental difference between the government and main opposition, on which their disagreement was complete, while the measures proposed to regulate university asylum would only increase the problems.

Council sector-head for education Mihalis Chrysohoidis said the government's draft bill did not address the present and future needs of universities and tertiary education.

Gov't spokesman responds

Minister of State and government spokesman Theodoros Rous-sopoulos on Wednesday evening responded to statements made by main opposition Panhellenic Socialist Movement (PASOK) leader George Papandreou concerning education.

"PASOK is clearly embarrassed. It knows that the govern-ment's proposals on education are supported by the overwhelming majority of the citizens and cannot seriously oppose them," Roussopoulos said.

The government spokesman added:"PASOK chooses to say many words without any proposal. Its only position is how it will vote against the bill. A position of refusal and abstention, such as from all the major decisions regarding the country."

[07] Joint meeting of top PASOK organs on March 1

The joint session will continue until midday on March 2, and will be immediately followed by a meeting of the Political Council to prepare a report for the National Council meeting on March 3 at the Peace and Friendship Stadium in Faliro.

This will be followed by an open event on March 4 in the same venue, when PASOK leader George Papandreou will present the party's main policy lines in the run-up to the next elections.

[08] Parliamentary Plenum concludes debate on constitutional reform

Under the circumstances, collecting 180 positive votes for the revision of even one article is impossible and, as a result, the task of garnering 180 votes will be passed on to the Parliament resulting after the next general elections.

The main rapporteur of the ruling New Democracy (ND) party, Panos Panayiotopoulos, stressed that his party will pursue the greatest possible consensus, "prepared to incorporate proposals coming from all the sides of Parliament."

Panayiotopoulos pointed out that "we believe that, following the option of PASOK of fleeing, resigning and undermining this paramount Parliamentary process, the strengthening of ND in the next elections constitutes the one-way road to enable us to reach a favourable conclusion."

KKE had a different approach to the issue, claiming that revision is moving in "a retrogressive direction." Its deputy Angelos Tzekis said that the constitution needs "radical revision which necessitates, however, a change in correlation at political level and the electoral weakening of the parties of bipartisan rule."

The special rapporteur of the Coalition of the Left, Movements and Ecology, Nikos Konstantopoulos, noted in his address that "in all of the major problems of society and of the state, the government is causing a climate of contradiction, while using rhetoric for consensus. It creates crisis conditions first and then it incriminates those who protest the turmoil caused by an aggressive governance."

[09] Parliament considers legal framework for opinion poll firms

Opinion poll firms' representatives stressed that the association has been calling for the establishment of a legal framework since 2001, one aimed at protecting its members and those gauged in polls.

A total of 22 polling firms are registered as SEDEA members, while another 10-12 companies operate outside the association's framework.

[10] Synaspismos to hold congress on March 17-18

Discussed at the congress will be the party's preparations for the general elections, according to decisions reached by the Central Political Committee.

The Leftist Renewal, the Renewal Rally and the Intervention groupings reacted against the decision by the Political Secretariat.

In an announcement, the groupings said that 'the choice by the majority of the Political Secretariat to lead the party to a Congress through a suffocating timeframe (March 17-18) is prohibitive for a substantial pre-congress dialogue with the participation of the party members in the assemblies of the organizations.'

[11] Foreign minister meets head of LAOS party

[12] Archbishop Christodoulos to visit Cyprus

Archbishop of Athens and All Greece Christodoulos will pay an official visit to the Autocephalous Church of Cyprus between the end of April and beginning of May, Archbishop of Cyprus Chryssostomos announced here on Wednesday.

The prelate of the Church of Cyprus added that there were ongoing talks on the programme of the visit, which is expected to take place on April 30-May 6.

[13] Ambassador Vassilakis hosts dinner in honour of new UNSG

The Permanent Representative of Greece at the United Nations, Ambassador Adamantios Vassilakis, on Tuesday evening hosted a dinner at the Greek ambassadorial residence in Manhattan in honour of new UN Secretary-General Ban Ki-moon.

Ambassador Vassilakis wished Ban Ki-moon 'every success in his task, for a creative and productive tenure at the international organisation.'

Financial News

[14] FinMin says govt to stick to its economic programme in 2007

Addressing an event, organised by the Hellenic Foreign Press Association, the Greek minister said the continuation of the government's policy was sought with the maximum possible political and social consensus. Alogoskoufis said 2006 was a very significant and crucial year for the economy with progress made in fiscal adjustment, economic growth and reducing unemployment. "This combination is not something often observed and justifies the government policy," he noted.

The Greek effort, he added, was an example for the rest of Eurozone and was based on the outgoing nature of Greek economy and improvement in business activity. The Greek minister, however, stressed that despite favourable results so far "we are still in the middle of the road. Results are satisfactory but not enough". He noted that the country's fiscal deficit fell but there was still room for improvement in competitiveness and underlined there was no room for complacency or delays.

Alogoskoufis said the government has agreed to further privatise Hellenic Telecommunications Organisation and that a strategic partner was sought to allow the organisation to face international competition and to have strong allies. He noted that OTE could also move forward under a Greek management and said that a new meeting with privatisation consultants was scheduled this month. The Greek minister stressed that nothing has changed in the government's strategy.

Commenting on an upwards revision of GDP, Alogoskoufis said it was an obligation of all EU member-states to proceed with a GDP revision every five years. "We should have done at least one more fiscal audit," he said adding that a previous GDP revision cost around 5 billion euros in the period 1994-2006.

"The 2006 revision is under way and we will see what the cost will be. Certainly we will pay," he said. Alogoskoufis said Greece must stop to see EU as a cashier and added that the country was no longer the "poor relative" of the EU.

The unemployment rate fell from 11.3 pct to 8.3 pct in the period 2004-2006, while employment added another 255,000 jobs during the same period, of which 200,000 in the private sector and 55,000 in the wider public sector, he said.

The Greek minister said investment grew by 9.5 pct in 2006, mainly from the private sector, while foreign direct investments exceeded 4.3 billion euros. "There are still big opportunities for investments in telecommunications and tourism," he noted.

Alogoskoufis said other public sector enterprises, such as Public Power Corporation and Athens Water should operate under private sector terms to the benefit of their shareholders, while he added that several enterprises needed a restructuring first and then privatisation.

The government's aim is to ensure the long-term viability of the social insurance system, Alogoskoufis said. "Big reforms cannot proceed without a wide consensus," he said and urged political parties to support the government's effort.

The Greek minister said the reform on the social insurance system would be made in the next four years and pledged that the government would speak openly for the problems and solutions to the issue. He said that the government would not take any more tax initiatives during its current four-year term and said the government aimed to sell another stake in Postal Savings Bank and underlined that the bank would continue its autonomous course.

PASOK, Coalition parties comment

The main opposition PASOK party and the Coalition of the Left, Movements and Ecology (Synaspismos), referring to statements made by Finance and Economy Minister George Alogoskoufis to the Foreign Correspondents Association, criticised the government's economic policy on Wednesday.

PASOK's finance sector chief Vasso Papandreou said that "Mr. Alogoskoufis admitted for the first time that the big ploy of revising GDP, the big blunder according to the CNN, has a huge cost that the Greek people will have to pay."

Papandreou added that "just like he was obliged to admit the account for the ploy of revising GDP, Mr. Alogoskoufis will soon be obliged to admit the deadlocks of his policy."

In reply to PASOK's criticism, the finance ministry said in an announcement that "poor memory is a prerogative of the main opposition party" and called on PASOK's cadres "to stop deceiving themselves and the Greek people at last", adding that "for the restoration of the truth" it reminds the cadres of the main opposition party 'that in 1994 the PASOK government at the time, with the late George Gennimatas as finance minister, revised GDP by about 25 percent and we have paid until today, in the framework of the country's commitments towards the European Union, 4 billion euros, of which we still owe 800 million euros."

Coalition party Political Bureau member and economic and social policy chief Panayiotis Lafazanis said on his part that "it was not enough that we had to pay, according to Mr. George Alogoskoufis, 4 billion euros for the previous revision of GDP, and while we still owe 800 million euros, the government has decided to 'slap on' the Greek people another 4 billion euros and over and burden them annually and forever with at least 400 million euros so as to increase GDP by 25 percent in a misleading way."

[15] FinMin holds informative meeting with Evros deputies on EU Solidarity Fund compensation

Speaking after the meeting, Folias said that "the file submitted to the European Union's Solidarity Fund was supported in the most substantiated way and for the first time in history the Solidarity Fund finances and compensates damage caused in our country."

Alogoskoufis pointed out that to the degree that the money from the EU's Solidarity Fund is a replacement for expenditures that took place from the Public Investments Programme, it will increase the expenditures of the Public Investments Programme for Evros.

"We have already requested from agencies to have a progra-mme prepared, amounting to 10 million euros, for additional projects and additional interventions that are needed in the region, to enable us to handle this major problem in the prefe-cture on a more permanent basis," the minister said.

[16] FM Bakoyannis: No risk for Greek investments in Turkey

"Retail businesses are a national asset and will have the active support of the state," Bakoyannis said, noting that the priorities for foreign ministry-promoted economic diplomacy are to project the innovation and variety of Greek products, as well as to secure access to international business networks.

In particular, Bakoyannis stressed that there is no risk for the Greek investments in Turkey.

[17] National Bank Group increases net profits by 36 pc in 2006

These results include 87 million that are the profits of Finans-bank, corresponding to the group in accordance with the unification percentage of 55.7 percent for the period of 135 days following the completion of the buyout of the majority share on August 18, 2006, until the end of the year.

The total amount of Finansbank's profits over the same period amounted to 156 million euros. This profit-making, projected on an annual basis, corresponds to about 420 million euros.

Without the participation of Finansbank and excluding the lumpsum charge totalling 100 million euros from the taxing of the bank's deposits, the group's profit-making for 2006 amounts to 1.014 billion euros, increasing by 40 percent compared to 2005.

"The historic performances of 2006, with the net profits of shareholders nearing 1 billion euros, confirm our strategic options in Greece and the wider region, underlining our adherence to the rendering of value to our shareholders," said the president and managing director, Takis Arapoglou, in comments on the financial results.

According to Arapoglou, the results of activities in Greece are continuing to increase with high rates, while the contribution of activities outside Greece, in southeastern Europe and Turkey, to the Group's profit-making has widened, approaching 200 million euros or 20 percent of the Group's profits.

[18] PASOK calls for interest rate ceiling on consumer loans

Former ministers, as well as EU Commissioners, Vasso Papandreou and Christos Papoutsis also called for a 14-day cancellation period, after the signing of a loan agreement, allowing consumers to back out of the deal, as well as a unified 'checklist' -- to be adopted by all lending institutions -- detailing conditions, costs and obligations that borrowers assume.

Papandreou, on her part, also called Greek banks' profits excessive if compared with the EU average.

In a later reaction, the Hellenic Bank Association said its members are already amongst the most regulated businesses in the country, adding that over-regulation eventually works against consumers and fair competition.

Regarding the proposal for an interest rate ceiling on consumer borrowing, the association stressed that 'based on the principles that govern the European Central Banks' policy, lending interest rates are freely set. Therefore, the administrative setting of a maximum rate for banks' interest rates ' is not compatible with these principles.'

[19] Greek current accounts deficit up 61.5 percent in 2006

The current accounts deficit totalled 2.815 billion euros in December, up 294 million euros from December 2005, reflecting an increase in the trade deficit, a smaller surplus of the services balance and higher deficit in the incomes' balance. On the other hand, the current transfers' surplus almost doubled in December.

The country's trade deficit widened by 7.727 billion euros in 2006, reflecting higher net payments for fuel imports (by 2.132 billion euros), higher net payments for the purchase of vessels (by 2.438 billion euros) and higher trade deficit excluding fuel and vessels by 3.157 billion euros.

The central bank said revenues from the import of goods, excluding fuel and vessels, rose 9.6 percent or 1.013 billion euros, although the increase of import payments was bigger (up by 4.170 billion euros or 13.6 percent). The services' surplus fell slightly, as the increase of net revenues from travel services (604 mln euros) was counterbalanced by a 300 mln fall in net revenues from transport services and a 444 mln euros increase in net payments for "other" services.

The incomes' deficit rose by 1.443 billion euros, due to higher net payments on interest, dividend and profits. The December figures also showed a significant increase in capital outflows, reflecting the payment of 357 million euros by National Bank for the purchase of Serbian bank Vojvodjanska Bank.

Direct investments showed a net inflow of 954 million euros in 2006 (after a net outflow of 679 million euro in 2005). The portfolio investment category recorded a net inflow of 8.115 billion euros last year.

The "other" investments category showed a net inflow of 11.519 billion euros in 2006. The country's foreign exchange reserves totalled 2.2 billion euros in December.

[20] Greek harmonised inflation 3.0 percent in January, yr/yr

The statistics service, in a report, said the harmonised inflation rate, measures by the consumer price index, fell 0.4 pct in January from December 2006, while the average harmonised inflation rate in the 12-month period from February 2006 to January 2007 was 3.3 percent.

[21] Hellenic Petroleum says net profit down 22 pct in 2006

Presenting the figures, P. Kavoulakos, Hellenic Petroleum's chief executive said excluding the impact of international oil prices, net profits were up 45 percent and noted that fuel demand was up 3.4 pct in 2006, while demand for heating oil fell 0.7 pct due to higher temperatures in the country.

Hellenic Petroleum's board approved a plan to invest 850 million euros in its industrial complex in Elefsina. The investment would allow the production of higher value products and more environmental friendly products based on EU standards.

'We will be present, but not leaders,' Hellenic Petroleum's chairman E. Christodoulou told reporters, commenting on the company's interest in oil exploration tenders announced by Cyprus. Christodoulou said the group was searching for an international partner to jointly participate in the tender and stressed that Hellenic Petroleum have informed the government over their intention to take part in the tender.

The board meeting also approved a plan to pay a 0.28 euros per share dividend to shareholders, after paying a 0.15 euros pre-dividend in the fourth quarter of 2006.

[22] Intrasoft International signs three contracts worth 1.4 mln euros

The Greek company won an international tender in Lithuania for the supply of an export control system, based on EU standards, and another project for the supply, maintenance and services' support of a National Product Distribution Control System in the country.

Intrasoft International also won a tender in Latvia for the supply of an Export Control System.

[23] Sprider reports improved 2006 results

EBITDA rose 39.7 percent to 19.9 million euros in 2006, from 14.2 million in 2005, while consolidated turnover rose 29.4 percent to 94.5 million euros from 73 million over the same period, respectively.

The company attributed its improved results to a more efficient operation of its Sprider Stores chain and the opening of nine new retail units.

Sprider Stores invested a total of 13.8 million euros last year for the opening of seven stores in Greece , and two in Sofia (Bulgaria) and Skopje (FYROM).

[24] Yalco to build 5.9-mln-euro logistics center

Socrates Constantinou, the company's general manager, presenting the Group's business plan to the Association of Institutional Investors, said Yalco was expected to complete signing procedures in an agreement with Black & Decker for the distribution of the multinational company's products in the Romanian market.

Yalco has set up a subsidiary in Romania and expects to begin operations in March. The Greek-listed company, with activities in Hungary, plans to invest around 5.9 million euros for a new logistics center in Inofyta Viotia. The project is included in a new development law and includes subsidies covering 35 percent of total budget.

[25] Lyberis Publications to issue 5-mln-euro bond loan

[26] Building costs jump 6.9% in Jan., yr/yr

The materials price composite index for new home building rose 0.4 pct in January from December 2006, up from a 0.3 pct increase in the corresponding period last year, the service said.

[27] Greek stocks drop 1.09 pct on Wednesday

All sectors ended lower with the exception of the Personal/Home Products and Commerce which ended 0.68 pct and 0.35 pct higher, respectively. The Insurance (6.25 pct), Utilities (3.63 pct) and Telecommunications (2.53 pct) sectors suffered the heaviest percentage losses of the day.

The Big Cap index fell 1.01 pct, the Mid Cap index ended 0.63 pct lower and the Small Cap index dropped 1.33 pct.

Yalco (9.56 pct), Ikona-Ihos (6.82 pct) and Ioniki (4.76 pct) were top gainers, while Elviemek (19.25 pct), Varvaressos (7.92 pct) and National Insurance (7.69 pct) were top losers.

Broadly, decliners led advancers by 210 to 57 with another 39 issues unchanged.

Sector indices ended as follows:

Insurance: -6.25%

Industrials: -1.93%

Commercial: +0.35%

Construction: -0.91%

Media: -1.12%

Oil & Gas: -0.29%

Personal & Household: +0.68%

Raw Materials: -2.22%

Travel & Leisure: -0.35%

Technology: -1.35%

Telecoms: -2.53%

Banks: -0.67%

Food & Beverages: -0.30%

Health: -1.86%

Utilities: -3.63%

Chemicals: -0.82%

Financial Services: +0.04%

The stocks with the highest turnover were National Bank, OTE, OPAP and Piraeus Bank.

Selected shares from the FTSE/ASE-20 index closed in euros as follows:

Alpha Bank: 24.58

ATEbank: 4.02

Public Power Corp (PPC): 21.24

HBC Coca Cola: 31.02

Hellenic Petroleum: 11.16

Emporiki Bank: 21.56

National Bank of Greece: 40.00

EFG Eurobank Ergasias: 29.80

Intralot: 26.40

Cosmote: 22.32

OPAP: 28.18

OTE: 21.90

Titan Cement Company: 46.14

[28] ADEX closing report

The March contract on the FTSE 20 index was traded at a discount of 1.01 pct and on the FTSE 40 index at a discount of 0.95 pct.

Volume in futures contracts on the FTSE 20 index was 8,641 contracts worth 109.802 million euros, with 23,058 open positions in the market, while volume on the FTSE 40 index was 884 contracts worth 25.368 million euros, with 1,299 open positions.

Volume in futures contracts on equities totaled 7,204 contracts worth 7.3 million euros with investment interest focusing on Hellenic Telecoms' contracts (1,031), followed by Emporiki Bank (136), PPC (368), National Bank (726), Alpha Bank (303), Intracom (441), Viohalco (586) and Mytilineos (556).

Volume in stock repos was 94 contracts and in reverse stock repos 9,379 contracts.

[29] Greek bond market closing report

The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 715 million euros and its yield rose to 4.31 percent.

In the domestic interbank market, interest rates eased slightly. National Bank's overnight rate was 3.58 pct, the two-day rate was 3.58 percent, the one-week rate 3.59 pct, the one-month rate 3.68 pct, the three-month rate 3.83 pct, the six-month rate 4.05 pct and the 12-month rate 4.11 pct.

[30] Foreign Exchange Rates - Thursday

U.S. dollar 1.325

Pound sterling 0.677

Danish kroner 7.515

Swedish kroner 9.384

Japanese yen 160.18

Swiss franc 1.639

Norwegian kroner 8.127

Cyprus pound 0.583

Canadian dollar 1.547

Australian dollar 1.677

General News

[31] Transport minister opens new Penteli Station on Proastiako railway

The new station is at the junction of Pentelis Avenue and the Attiki Odos highway to the airport, in the northern Athens suburbs of Vrilissia. It is expected to serve some 2,000 passengers a day.

During the opening, the minister also announced plans to reduce the fare on the Proastiako Railway to 1.80 euros for a one-way ticket from 3.0 euros at present. In addition, fares from Doukissis Plakentias station to stations within one fare stage (Pallini, Kantza and Koropi) will go down to 1.0 euro.

Liapis said that the ministry will talk to local municipalities served by the line about introducing a special residents' card, which will make them eligible for a discount on fares to the airport from stations in their area. The ministry said the discounted residents' fare will be 3.0 euros, instead of 4.0 euros for non-residents.

The price of a ticket from Pentelis station to Larissis station in central Athens will be 0.70 euros, while for the section of the line between Magoula station and Koropi station the maximum fare will be 1.80 euros.

Monthly travel cards for the Proastiako between Pallini and the airport will be reduced from 80.0 euros at present to 50.0 euros, while travel cards valid for all means of public transport in the city centre up to Koropi station will be reduced from 65.0 euros to 50.0 euros.

[32] Military parade marks 94th anniversary of Ioannina's liberation

"Today's anniversary is a day of memory and reflection. It reminds us that those who forget are forgotten. We attribute honour to the national gains of the past so as to have a creative present and a hopeful future," Papoulias said in his address.

The Greek president later spoke during a reception at the city's army officers' club.

"I am certain that the future of Greece will bestow even better days to the Greek people; a future that will create the conditions that will turn the country into a significant factor for peace and stability in the Balkans and Europe," he said.

The government was represented by Defence Minister Evangelos Meimarakis.

[33] Site of ancient theatre discovery to be expropriated

The section of an ancient theatre was discovered last Thursday during excavations at a field for the building of a multi-storey complex.

During the excavations at the junction of Salamina and Liossia roads, 15 stands came to light.

Voulgarakis visited the site on Wednesday, accompanied by culture ministry Antiquities director Vivi Vassilopoulou.

After a tour of the site, Voulgarakis said it was a very important discovery, stressing that the expropriation would be extended to bordering land plots if necessary.

Vassilopoulou said it was too early to say whether the discrovery was the renowned ancient theatre of Acharnes, but added that there were significant indications that it could be.

Excavations director Maria Platonos, who showed Voulgarakis around the site, said that the moveable finds uncovered proved that the theatre discovered in Menidi dated its operation back to the 4th century BC

[34] Book focuses on Alexander the Great in Persian poetry

The book was written by the former cultural attaché at the Greek embassy in Tehran, Marianna Iatropoulou-Theocharidou.

In addressing the event, Iranian envoy to Greece Mehdi Mohtashami stressed that strong cultural foundations, such as the ones enjoyed by Greeks and Persians, are the result of strong civilisations.

On his part, Kassimis noted that Alexander the Great qualifies as a unique phenomenon in history, as so many different peoples wish to declare the ancient conqueror as one of their own.

[35] New Prefectural Union president elected

Speaking after the board meeting, Drakos said "the position of president of ENAE is a great honour and responsibility for me. We shall all proceed together to strengthen regional democracy and balanced development. We shall be consensual on all the major issues concerning our institution, that can really bring spring to the countryside," adding that "we have serious challenges to face before us, such as the administrative division of the country, whose issue will open after the national elections."

[36] Water reserves depleted in Thessaly, local officials warn

Rivers and springs in the area will not have enough water reserves to meet irrigation needs in Thessaly during the early summer months and 15-20 percent of cultivated farm land will face severe shortages, officials added.

[37] Light earthquakes in Pieria, no cause for concern say seismologists

The first trembler, measuring 4.0R, was recorded at 3:41 a.m., followed by a second quake, measuring 4.5R, at 4:05 a.m.

According to the Thessaloniki Aristotelion University's Geophysics Laboratory, the epicentre of the tremblers was 50 kilometres southwest of Thessaloniki, between Kolindros and Vergina.

The quakes were felt in several areas in the prefectures of Pieria and Imathia, causing concern among local residents.

Geophysics Laboratory seismologist Manolis Skordilis told ANA-MPA that the region was characterised by low seismicity, and has not produced large earthquakes in the past.

"Most likely, it is an isolated incident, which does not give rise to concern," Skordilis said.

[38] Fewer road accidents during Clean Monday break, police report

Between Friday and the end of the Clean Monday holiday there were 133 road accidents, of which 11 were fatal, 20 serious and 102 were minor. In these, 13 people were killed, 22 were seriously injured and 144 suffered lighter injuries.

In the same period in 2006 there had been 167 traffic accident, 20 of which were fatal and 18 serious, in which 22 people were killed, 24 seriously injuried and 210 sustained minor injuries.

Police stressed that only one fatal accident with two dead occurred on the main national highway network, at the 165th kilometre of the Athens-Patras national highway.

The number of cars leaving Athens and Thessaloniki for the holiday was reduced by 65,900 cars relative to 2006 but the return on Clean Monday was higher by 27,865 cars, indicating that traffic density on the roads during the weekend remained at roughly the same levels as last year.

[39] Aristotle University eyes further cooperation with Chinese colleges

The likelihood was examined in a meeting here between University rector Anastasios Manthos and La Trobe University of Melbourne Vice-Chancellor Michael Osborne.

Osborne, who teaches a Greek-language course at the University of Beijing and the Beijing Foreign Studies Univer-sity, has been chosen to create Greek-language departments in both institutions.

Prospects for expanding the 15-year-long academic cooperation between the Aristotle University and La Trobe were also examined in the meeting.

Sports

[40] Greece to host 'SportAccord 2008' exhibition

The exhibition, which is held annually in a different country, is organized under the auspices of the International Olympic Committee (IOC).

So far, it has been hosted in Madrid, Lausanne, Berlin and Seoul. This year, it will be held in Beijing.

The undertaking of the 2008 exhibition, which will be held in Athens from June 2-6, 2008, was signed in the Greek capital on Wednesday between Culture Minister George Vougarakis and SportAccord and General Association of International Sports Federations (AGFIS) president Hein Verbuggen, in the presence of Deputy Culture Minister responsible for sport George Orfanos and Athens Mayor Nikitas Kaklamanis.

Basketball

[41] Athens mayor, sports minister discuss Euroleague Final Four

In statements afterward, Orfanos stressed that the government's goal was to ensure impeccable organisation providing full security for the Final Four games.

Kaklamanis said there will be a follow-up meeting on the Euroleague Basketball finals, while they also discussed issues related to amateur sports in the capital.

Cyprus Affairs

[42] Cyprus protests to UN airspace violations by Turkey

Cyprus has strongly protested to the UN Secretary General recent violations of the international air traffic regulations and the national airspace of the Republic by military aircraft of the Turkish Air Force.

The violations were recorded between 4 December 2006 and 31 January 2007.

In a letter addressed to UN SG Ban Ki-moon, Charge d'affaires Andreas Hadjichrysanthou outlines the incidents of violations by the Turkish military, noting that such action continues to gravely jeopardize flight safety and perpetuates insecurity and apprehension on the island.

"On behalf of the Government of the Republic of Cyprus, I would like to strongly protest over the aforementioned viola-tions and hereby appeal for their immediate cessation. Tur-key's policy of non-observance of rules and regulations gover-ning international aviation continues to gravely jeopardize flight safety and perpetuates insecurity and apprehension on the island", said Hadjichrysanthou.

He also pointed out that "such provocative and irresponsible actions can be explained only by the well known Turkish practice of politically exploiting any possible opportunity in order to promote Turkey's constant objectives of undermining the sovereignty and territorial integrity of the Republic of Cyprus, and of upgrading the status of the legally invalid ''Turkish Republic of Northern Cyprus'''.

"It is high time for Turkey to realize that such irresponsible behaviour has no other effect than to negatively affect the good political climate that is necessary for the implementation of the 8 July 2006 agreement", the Cypriot charge d'affaires conclu-ded.

The letter circulated as an official UN document. Cyprus has been divided since 1974 when Turkish troops invaded and occupied the island's northern third. Ankara does not recognise the legal government of the Republic of Cyprus.

[43] Cypriot political parties exchange views with PACE President

The leaders and representatives of the Greek Cypriot and Turkish Cypriot political parties met in Ledra Palace on Wednesday for a special meeting with President of the Parlia-mentary Assembly of the Council of Europe Rene van der Linden, and exchanged views on various aspects of the Cyprus problem.

A joint communique issued after the meeting says that the Greek Cypriot and Turkish Cypriot political parties expressed the wish ''to begin without delay the effective implementation of the 8 July 2006 agreement.''

''The leaders and representatives of the Greek Cypriot and Turkish Cypriot parties met in Ledra Palace for a special meeting. They met the President of PACE and exchanged views on different aspects of the Cyprus problem with him,'' the communique says.

Their next regular meeting will be held on 7 March at Ledra Palace.

Cypriot President Tassos Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat agreed on 8 July 2006, during a meeting in Nicosia in the presence of senior UN official Ibrahim Gambari, to begin a process of bicommunal discussions on issues that affect the day-to-day life of the people and concurrently those that concern substantive issues, both contributing to a comprehensive settlement to the Cyprus problem.

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third.

[44] PACE President meets Cyprus' religious representatives

The religious representatives of the two communities of Cyprus met here Wednesday in the framework of an initiative by the President of the Parliamentary Assembly of the Council of Europe (PACE), Renee van der Linden.

According to a joint statement following the meeting between Archbishop of Cyprus Chrysostomos II and Turkish Cypriot director of religious affairs Ahmed Yonluer, the two leaders were delighted to meet for the first time and discussed ways that could contribute to the creation of an atmosphere of trust and tolerance to set an example to the people and politicians of Cyprus.

As a first step, the statement notes, they agreed to work towards the goal of enabling worship at the Hala Sultan Tekke Mosque in Larnaca and the Apostolos Andreas Monastery in the Kar-pass peninsula.

Speaking before the meeting, Van der Linden expressed his happiness for the meeting and noted that he always, as president of the PACE and as a believer, encourages inter-cultural dialogue.

He said that this meeting is ''so important'' because Cyprus' Archbishop and Yonluer ''play an important role in the minds and the hearts of the citizens''.

[45] Van der Linden: The future of Cyprus must be a common one

The future of this wonderful island must be a common future, said Wednesday President of the Parliamentary Assembly of the Council of Europe (PACE), Renee van der Linden, in statements after a meeting he held in Nicosia with Mayor of Nicosia Eleni Mavrou and the so called mayor of the occupied part of the capital, Cemil Bulutogullari.

"I am very pleased to have this meeting. I am very pleased to see that we have here an excellent example of cooperation. This is an example of what you can cooperate on the level close to the citizens", he said.

Van der Linden, who is currently visiting Cyprus at the invita-tion of House of Representatives President Demetris Christo-fias, added that "the future of this wonderful island must be a common future".

"If you want to solve the problems, both parts have to make concessions but you do it in the right spirit which will be in the interest of those people you have to serve", he continued.

Eleni Mavrou, said that the local administration considers the encouragement and assistance of PACE as very important, and reassured that "there is will for cooperation in Nicosia".

"We have discussed with van der Linden some issues where cooperation is necessary and feasible and we will continue working in that direction. As van der Linden said, trust is something you build and we are ready to work in building this trust between the two communities", she said.

In his statements, Bulutogullari expressed the hope that both communities continue to make joint projects.

"I hope this meeting does not stay on TV programs or news-papers, but will go on and carry on until both communities can live together like we did 30 years ago", he concluded.

Earlier, van der Linden met with Greek Cypriot and Turkish Cypriot Non Governmental Organizations but no statements were made after the meeting.

[46] Cyprus' Griffon vulture on verge of extinction

The griffon vulture of Cyprus is on the verge of extinction, with only 15 birds still surviving on the island in the areas of Paphos and Limassol, according to Limassol mayor Andreas Christou.

The mayor on Wednesday outlined efforts to artificially hatch an egg produced by a breeding pair of griffon vultures at the Limassol zoo in order to boost the population. The egg will be taken to Paphos and returned to Limassol after three months as a hatchling, in order to become acquainted with its own species.

Finally, an attempt will be made to release the young bird into the wild, while keeping it under constant observation to ensure its survival.

Christou said that the wild vulture population was threatened by poisoned bait and materials used in pest control.

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