Athens News Agency: News Bulletin in English, 07-02-28

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

CONTENTS

[01] FinMin satisfied with positive ECOFIN assessment of stability, growth program

[02] EU Commissioner Joaquin Almunia comments on Greek deficit

[03] Ecofin Council ratifies Greek economy's Stabilisation Programme

[04] PASOK, Coalition parties on FinMin's statements

[05] Cabinet approves draft bill against private-sector corruption

[06] Gov't planning further education reforms in research, post-grad studies

[07] PASOK official comments on educational issues

[08] Discussion on higher education begins at Educational Affairs Committee

[09] Teachers, students file law suit against Greek state for 'police violence'

[10] PASOK official criticises government's health care policy

[11] New Democracy 2.9 points ahead of PASOK in GPO poll

[12] Greek-Bulgarian relations an example of good neighborliness

[13] PM receives defence minister

[14] PM to meet deputy sports minister, finmin on Wednesday

[15] Justice minister briefs committees on European Court rulings

[16] Former French PM Jospin attends event in Athens

[17] Sioufas, Papoutsis at 2nd International Energy Summit

[18] Int'l energy officials emphasise secure supplies

[19] Athens to host 4th World Regulators' Con'f in 2009

[20] Minister denies circular suspending tenders

[21] Lecture by IMO SG Mitropoulos on organization's work and mission

[22] Employment minister refers to 'Green Paper'

[23] Minoan Group to begin 1.2-bln-euro tourism project in Crete

[24] Sidenor, Halcor reports impressive 2006 results

[25] Marfin Financial Group says profit up 694 pct in 2006

[26] Mytilineos Group says EBITDA up 18.8 pct in 2006

[27] 5th Greek Fashion Week

[28] Tourism dedication on Greece by American magazine

[29] OA announces low-fare offers for domestic flights

[30] Greek stocks drop 4.05 pct on Tuesday

[31] ADEX closing report

[32] Greek bond market closing report

[33] Foreign Exchange Rates - Wednesday

[34] Wintery weather, snow and rain in northern Greece

[35] Conference on river pollution risk through industrial accidents

[36] Culture minister inaugurates exhibition on Greek political cartoons

[37] Conference on Greek author Kazantzakis at New York University

[38] World forum against poverty to be held in Athens in March

[39] Doctor charged with fraud over alleged cancer cure

[40] Fighter plane crashes near Tanagra air base, pilot saved

[41] U.S. Consulate in Thessaloniki donates baggage check apparatus

[42] Online application service for UK visas available in Greece

[43] Weather forecast: Overcast, rainy on Wednesday

[44] Famagusta Mayor announces campaign for return of refugees

[45] Britain: Republic of Cyprus designates airports on the island

[01] FinMin satisfied with positive ECOFIN assessment of stability, growth program

Economy and Finance Minister George Alogoskoufis on Tuesday expressed his satisfaction over the positive assessment, by the by ECOFIN group, of Greece's Stability and Growth programme for the period 2006-2009.

Speaking to reporters in Brussels, the Greek minister said the government was continuing its efforts towards fiscal adjustment and structural reforms, while commenting on the country's public finances, said the adjustment programme continued with structural measures of permanent nature aiming to achieve a medium-term target of balanced or surplus budgets. Alogoskoufis said this target would be achieved by 2012 at the latest, while the public debt would continue falling thanks to high growth rates, rising primary surpluses, reduced adjustments between deficit and debt and higher proceeds from privatisations.

He said implementation of a reform programme could lead to an acceleration of productivity growth rates, higher employment and lower unemployment in the country. Alogoskoufis also noted that this policy was already bearing fruit, since the general government deficit fell by around five percentage points of GDP during the last two years, mainly through a policy of containing spending and improving tax efficiency. Alogoskoufis said the country's fiscal deficit was expected at 2.6 pct of GDP in 2006, in full accordance with an ECOFIN decision taken on Feb. 17, 2005.

The government has ensured economic growth with the implementation of a reform strategy and a real growth rate of 3.7 pct in 2005 and 4.3 pct in 2006. "This performance remains one of the highest in the Eurozone," Alogoskoufis said.

He also referred to changes in the quality dimensions of economic growth, with private investments and lower corporate taxes raising their share in economic growth, while he cited a new investment law and legislation on joint ventures between public and private sector companies as additional supporters.

Alogoskoufis said unemployment fell to 11.3 pct of the workforce in early 2004 to 8.3 pct in the third quarter of 2006 and noted that 250,000 new job positions were created, mainly in the private sector.

Commenting on the pension system, the Greek FinMin said a social and political dialogue over the issue was continuing with the aim of creating the necessary conditions to promote a pension reform with social and political consensus.

Alogoskoufis said the government based its economic policy on two pylons: the first to achieve a fiscal adjustment aimed to end excessive deficit procedures by 2006 and the second to promote structural reforms to boost economic growth through private investments, exports and higher employment.

The Greek minister said the ministry has sent all date related with an upwards revision of the country's Gross Domestic Product to Eurostat last month and that the EU executive's statistics agency was currently evaluating these figures.

[02] EU Commissioner Joaquin Almunia comments on Greek deficit

European Union Commissioner Joaquin Almunia met on Tuesday with Greek Finance and Economy Minister George Alogoskoufis and discussed the possible exit of the Greek economy from the excessive deficit process.

"I met with Mr. George Alogoskoufis this morning. The main topic of discussion was the possible exit of the Greek economy from the excessive deficit process. I informed the Greek minister that our spring predictions will be publicised on May 7 and then we shall be in a position to know all the data required to enable us to assess exit from supervision. With the existing information, I believe that this exit is clearly possible, but we must wait until May 7 when we shall know the final data for 2006 and predictions for 2007," the Commissioner said.

"During the discussion, George Alogoskoufis mentioned to me that he intends to proceed in the future with the reforming of the social security system in Greece. Of course, I am aware, just like you are aware in any case, that elections will take place in Greece in the meantime and, consequently, it will be better that this issue be settled after the elections," Almunia added.

[03] Ecofin Council ratifies Greek economy's Stabilisation Programme

The Ecofin Council convened here on Tuesday and ratified the Greek economy's updated Stabilisation Programme for the 2006-2009 period, assessing that it is compatible with the correction of the excessive fiscal deficit in 2006 and its further decrease in the coming years.

The Council made three main recommendations to Greece:(1) to secure a decrease in the public debt, taking advantage of the good economic conjuncture, (2) to continue the improvement of its fiscal data, increasing transparency and (3) to improve the longterm stability of its public finances, checking public expenditures on its pensioning and social security system.

[04] PASOK, Coalition parties on FinMin's statements

PASOK economy sector chief Vasso Papandreou said that "Mr. Alogoskoufis expressed his satisfaction over our country's fiscal adjustment and the reform programme being imple-mented by the New Democracy government. They are satisfied because with their initiative and with data that they provided they placed the country under supervision and with the data that they are giving by themselves now the supervision status will end."

She further said that "however, the overwhelming majority of citizens are not only not satisfied but, on the contrary, they are very displeased by the policy they are following and by its repercussions on their day-to-day lives."

Coalition party Political Bureau member and economic and social policy chief Panayiotis Lafazanis said on his part that "Greece might exit formally from EU supervision in the coming months but only to enter, according to the unacceptable indications of the European Commission that Mr. Alogoskoufis adopted, a new programme of substantive and tougher super-vision."

[05] Cabinet approves draft bill against private-sector corruption

Commenting on the draft bill prepared by his ministry, Justice Minister Anastasios Papaligouras stressed that combating corruption in all its forms remained the government's "top priority".

"Our government - and the prime minister in person - has made it a programme target to fight corruption, which has been a scourge for society in the recent past," he said later the same day.

He also underlined innovative elements in the proposed reforms, which he said would fully harmonise Greek laws with those in other European Union countries once passed.

"For the first time, a penalty is introduced for bribery in the private sector and for the illegal exercise of influence," he stressed.

Presenting the draft bill to the press in detail during a later press conference, Papaligouras said that it was unrealistic to differentiate between corruption in the private and public sectors in the present day. Corruption had its counterparts in the private sector as much as the public sector and the two were often intertwined, operating in tandem, the minister said.

"A modern, organised society should deal with corruption without a 'name of origin' and fight it in all areas, on all levels, without discrimination or exceptions. This is our government's political intention," Papaligouras emphasised.

Stressing that corruption and graft had become a latter-day "Lernaean Hydra" for Greek society, the justice minister said the bill drawn up by his ministry would be a powerful new weapon in the state's efforts for reform.

Among proposed measures, he listed newly introduced prison sentences for bribery in the private sector, ranging from one to five years, for those "intentionally through the exercise of business activity promises or provides any form of undue advantage or exchange to persons working with private-sector bodies for actions or omissions contravening their duty".

Offering or exercising illegal influence is also punishable with prison sentences ranging from three months to five years under the proposed bill, while prison sentences and fines are introduced for the first time for those deliberately using or completing an invoice or other accounts documents containing false or incomplete information, or who illegally omit to make records of payments.

[06] Gov't planning further education reforms in research, post-grad studies

He stressed that these issues were very important for improving education in Greece, while announcing that 420 million euros will be made available for research from the 4th Community Support Framework (CSF).

Regarding the draft framework law on higher education that began to be discussed by a Parliamentary Committee on Tuesday, Roussopoulos implied that the government would be open to amendments proposed by the academic community.

"The government came to the process with a very good attitude, with dialogue that yielded results and I am sure that the education minister will operate along the same lines during the rest of the Parliamentary procedure," he told reporters in response to questions.

Asked about possible changes designed to make upper highschools - known in Greece as lyceums - less dominated by and dependent on university entrance examinations, Roussopoulos confirmed that government policy was moving in this direction.

Pointing to past statements by Prime Minister Costas Karamanlis about "better-quality lyceums", he noted that the government had promised changes to improve both tertiary and secondary education.

The abolition of university-entrance exams in the second year of the three-year lyceum was a step toward autonomy for lyceums, which would acquire their own worth, he added.

"The next step will be to make lyceums completely autono-mous of the nationwide university exam process," he said, while pointing out that any changes would be announced well beforehand, at least three years in advance, so that students and their families would not be taken by surprise.

He ruled out the complete abolition of university-entrance exams, however, pointing out that universities set a limit on the number of students they will accept and that the minimum pass of 50% (overall points in the system) had been accepted as a measure for assessing the quality of education.

"We cannot accept that everyone will get into university, regardless of the marks they achieved in lyceum. There must be some form of examination procedure, because there is no university anywhere in the world that does not ask candidate students to fulfill certain requirements," the spokesman added.

The changes to secondary education would be carried out after the next elections and following lengthy dialogue, "since we believe that we will be in government again," Roussopoulos clarified.

The law on assessing universities that has already been passed, the framework bill for higher education now in Parliament and pending draft legislation on research and post-graduate studies will be the "four elements that will strengthen and give a completely different prospect to Greek universities," the spokesman concluded.

[07] PASOK official comments on educational issues

Chrysohoidis noted that "it is certain that whatever government initiative will constitute, once again, a monument of off-handedness, fragmentation and impression-seeking," adding that "the overt lies to which the government spokesman resorted show the lack of seriousness with which the government handles educational issues."

[08] Discussion on higher education begins at Educational Affairs Committee

Education Minister Marietta Yiannakou presented the bill, invoking problems that have remained unresolved as a result of the inadequate implementation of the previous law 1268 and the institutional deficit of Greek higher educational institutions in relation to the corresponding European ones.

Main opposition PASOK party leader George Papandreou said that he turned up at the meeting not to worsen tension even more by requesting the bill's withdrawal but to contribute to the easing of the already tense climate.

Coalition of the Left, Movements and Ecology (Synaspismos) party leader Alekos Alavanos called on the government to withdraw the bill, taking into consideration the reactions of the educational community to the revision of article 16 on non-state-run universities.

Communist Party of Greece (KKE) rapporteur George Hourmouziadis discerned "behind the letter of the bill" the further linking of the university with the logic of entrepre-neurship and of competition.

The bill is expected to be ratified by the deputies of the majority in principle on Tuesday night, while the discussion will be continued on Wednesday on the articles and with the attendance of agencies.

[09] Teachers, students file law suit against Greek state for 'police violence'

The law suit was filed by the Panhellenic Federation of Teachers' Organizations and University Research Personnel (POSDEP), the Federation of Secondary School Teachers (OLME), the National Federation of State School Teachers (DOE) and by students.

In an announcement, they said 'they view as their obligation to denounce and take measures for the unjustifiable police violence that occurred mainly against students.'

A press conference will be given on Wednesday, organized by the teachers' federations, students, the Committee for the Defense of the Constitutional Rights of the Athens Bar Association and the 'Democratic Alliance for Popular Freedoms and Solidarity'.

[10] PASOK official criticises government's health care policy

Protopappas said that the "phenomenon of corruption, shortages and of the degrading of the quality of services" was unprecedented and unacceptable and stressed that PASOK's new health programme will be announced by Sunday and will focus on the citizen and will be a national health system that will provide quality for all and for each person separately.

Referring to announcements on hirings in the health sector, Protopappas said that they will not be carried out in March either, while on the issue of psychiatric reform he expressed fear that 3,000 people will lose their jobs and 2,800 sufferers will be committed, "which will be a black stain for Greece in the European Union."

[11] New Democracy 2.9 points ahead of PASOK in GPO poll

The results of the poll were presented on the private television channel MEGA on Monday night.

According to GPO's findings, 37 percent of respondents said they intended to vote for ND in an upcoming election, compared with 34.1 percent for PASOK, 6.9 percent for the Communist Party of Greece (KKE), 4 percent for the Coalition of the Left, of Movements and Ecology (SYN) party and 4.3 percent for the Popular Orthodox Rally (LAOS) party. Undecided voters accounted for 7.7 percent of those asked.

Prime Minister Costas Karamanlis also had an imposing lead over PASOK leader George Papandreou on the question of who was best suited for prime minister, with 49 percent of respondents choosing Karamanlis against just 25.1 percent choosing Papandreou.

A large majority of those asked (67.4 percent) said that sit-ins at universities should stop, while just under half (48.3 percent) believe that the draft law on educational reform tabled by the government is moving in the right direction.

ND also fared better as the party best able to manage education-sector issues, getting a vote of confidence from 39.6 percent of respondents compared with 32.7 percent for PASOK.

[12] Greek-Bulgarian relations an example of good neighborliness

The common desire for relations between Greece and Bulgaria to constitute an example of good neighborliness in Europe, was at the centre of talks here on Tuesday between Greek Parliament President Anna Benaki-Psarouda and Bulgaria's political leadership.

Benaki-Psarouda held talks with Bulgarian President Georgi Parvanov and Prime Minister Sergei Stanishev.

Parvanov said were 'days of Greek-Bulgarian friendship' and the visits to Bulgaria by President of the Hellenic Republic Karolos Papoulias, the Greek Parliament President and by other Greek officials, in early 2007, confirm the common evaluation that 'Greek-Bulgarian relations today are better than ever before.'

Parvanov noted that the bilateral relations constitute a factor of peace in the broader region.

On her part, Benaki-Psarouda said that during it EU accession course, Bulgaria proved to be a model country in the implementation of European criteria. She recommended to Sofia to continue to make efforts for the implementation of the acquis communautaire and in general 'for its harmonious incorporation in the large European family.'

In talks with Prime Minister Stanishev, it was noted that Bulgarian experts will be trained in Athens for the handling of of development plans in the context of the various European support packages.

In this way the Greek government is attempting to contribute to the solution of a serious problem in Bulgaria, the need for the training of personnel in public administration for the absorption of resources from the European Union's structural and other funds.

[13] PM receives defence minister

[14] PM to meet deputy sports minister, finmin on Wednesday

[15] Justice minister briefs committees on European Court rulings

"The bad situation at penitentiaries is one of the main reasons for which our country has had a series of condemnatory rulings by the European Human Rights Court," the minister said.

"We had inhuman, if not medieval, conditions in prisons in which 10,000 prisoners were packed in spaces built for 5,000 inmates. It was indeed hair-raising that there was no distinction between inmates and people awaiting trial were in the same cells with convicts and inmates with heavy sentences with light offenders. We are proceeding with a speedy programme for the construction of eight new prisons. The first has already been delivered in Trikala and Domokos will also be operational next month, while another three will be delivered by summer," Papaligouras added.

[16] Former French PM Jospin attends event in Athens

Jospin, who participates in the electoral committee of France's Socialist Party, accepted the invitation by Papantoniou to be the main speaker on such a crucial subject such as 'The Left and the reforms'.

Financial News

[17] Sioufas, Papoutsis at 2nd International Energy Summit

Sioufas stressed in a speech kicking off the two-day summit that the changes to the global climate were a clear warning that should not be ignored by any economic sector.

Apart from ensuring adequate energy supply, alternative forms of energy and energy conservation should be seriously considered, he warned.

The minister pointed out that, in the past three years, the government's main energy policy axes were the creation of a modern and integrated domestic energy market and the country's active participation in international energy networks while supporting wide-scale EU initiatives.

Sioufas referred specifically to the construction of the Greek-Turkish natural gas pipeline launched in July 2005 and expected to be completed in June 2007 and to the agreement for the construction of the Greek-Italian natural gas pipeline.

He said that the entire project is of major importance for Europe, being the first natural gas corridor from the region of the Caspian Sea and the Middle East to the major energy consumption centers of Western Europe.

Sioufas also referred to the planned Burgas-Alexandroupolis oil pipeline, cooperation on energy issues with Egypt, Albania and the Arab world and multilateral cooperation within the framework of the SE Europe Energy Community.

Christos Papoutsis, responsible for development and shipping issues in the main opposition PASOK party, pointed out in his address to the conference that energy undoubtedly constitutes the basis for the global economy and growth leading to social prosperity. Papoutsis stressed the importance of renewable sources of energy and the rational use of energy resources.

He also highlighted the role Greece can play in energy issues based on the fact that it has the strongest economy in south-eastern Europe, extensive experience in the energy sector and, more importantly, the largest merchant fleet in the world.

[18] Int'l energy officials emphasise secure supplies

Mandil also referred to the need for cooperation between energy suppliers and consumers, pointing out that energy should be used in a better and more effective manner. He also referred to the environmental protection aspect, stating that global warming is a reality and, therefore, it should be taken under consideration in all energy policies.

According to Mandil, the main "players" in the energy field in the next 20 years will be countries outside the OECD, like China.

Fabrizio Barbaso, deputy director general of DG Energy & Transport in the European Commission, said the EU is trying to increase energy awareness among its partners and at the same time is interested in securing energy supplies given that energy dependence will increase in the following years according to the International Energy Agency forecasts.

Barbaso pointed out the need for coordinated policy based on five axes namely, solidarity between energy producing and energy consuming countries, well-balanced domestic markets, renewable energy sources, energy research and technology and improved foreign relations functioning as tools of cooperation, stability and peace.

On his part, Mikhail Savva, the head international cooperation on energy and transport at the Russian ministry of foreign affairs' department of economic cooperation, detailed Russia's energy prospects, pointing out that in the future Russia and Iran will be the largest natural gas producers in the world.

He stressed that the Burgas-Alexandroupolis oil pipeline project is a priority for the Russian government and will guarantee energy supplies to the EU while, at the same time, it will reduce the risk of a maritime accident involving tankers carrying Russian crude to the Mediterranean via the Bosporus Straits.

[19] Athens to host 4th World Regulators' Con'f in 2009

The Greek proposal was supported by the Council of European Energy Regulators (CEER). The Athens conference will be the fourth in a series of conferences that began in 2000 in Montreal and then again in Rome (2003) and Washington (2006).

The conference aims to promote dialogue and exchange of experiences and views - positive or negative - as well as to prevent repeat mistakes, develop national energy markets based on healthy competition with the prospect of creating regional as well as global energy markets to benefit energy consumers.

WFER is the only global energy conference covering the regulatory aspect of energy markets and brings together repre-sentatives from almost 100 regulatory authorities around the world.

[20] Minister denies circular suspending tenders

The statement was made in response to a question tabled in Parliament by main opposition PASOK party deputy Stelios Matzapetakis concerning press reports on the suspension of procurement tenders until April 7, 2007.

The deputy minister said that the allegedly classified document published by the press was never written or sent by ministry agencies.

[21] Lecture by IMO SG Mitropoulos on organization's work and mission

The event was also addressed by Deputy Foreign Minister Yiannis Valinakis, who referred to Greece's protagonist role in world shipping and to its contribution to the strengthening of IMO.

Greece is in first place among EU member-states with 22 per cent of total capacity, while Greek-owned ships amount to 16 per cent of world capacity, Valinakis said.

The deputy foreign minister added that 'our country's strategic target for a viable shipping growth is at the epicenter of interest for the European Union in particular, following the issuing by the European Commission of the Green Book for the New European Policy for the Sea.'

Mitropoulos, expounding on IMO's work and mission, in view of the new diplomats and officers of Merchant Shipping, spoke about the organization's primary targets, 'which concern the safety of international shipping, in which these past years, particularly after September 2001, also added has been the aspect of terrorism and of illegal activities and the protection of the environment.'

President of the Republic Karolos Papoulias will award IMO Secretary-General Mitropoulos for his contribution, during a special ceremony on Wednesday.

[22] Employment minister refers to 'Green Paper'

Referring to the 14 questions raised by the 'Green Paper' on the development of labor legislation in the framework of the Lisbon strategy, Tsitouridis said that 'the Greek government will submit its positions to the European Union on March 31.'

He added that 'the dialogue on the issue in Greece is in full swing,' noting that 'the social partners and the parties have been called on to submit their views since November.'

[23] Minoan Group to begin 1.2-bln-euro tourism project in Crete

The project, called "Cavo Sidero", will be built in the northeastern region of Lasithi prefecture of Crete, and it is billed as one of the largest tourist investments ever made in Greece.

It includes the construction of tourist villages and facilities, designed to blend in with the surrounding landscape and using traditional architectural solutions. In an area of 2,500 hectares owned by Toplou Monastery, Minoan Group will build six tourist villages with 7,000 beds using less than 1.0 pct of the total area.

The investment will result in up to 2,300 direct and more than 1,000 indirect jobs.

Minoan Group agreed with Toplou Monastery to lease the area for 40+ another 40 years in return for funding of the mona-stery's charitable activities.

Tourism Development Minister Fani Palli-Petralia, addressing the presentation event, said the government's priority was to attract major investments.

[24] Sidenor, Halcor reports impressive 2006 results

Net consolidated after-tax and minority earnings totalled 108 million euros (or 1.13 euros per share) last year from 16 million euros in 2005, for an increase of 564 percent. New investments totalled 58 million euros.

Parent turnover totalled 320 million euros, gross profit was 76 million euros (up 99 pc) and net after-tax profits totalled 28 million euros (0.29 euros per share), up 164 percent from 2005. Sidenor said it planned to pay a 0.25-euro per share dividend to shareholders, up from 0.16 euros in 2005.

Halcor Group said its consolidated turnover rose 75.2 percent to 1.247 billion euros in 2006 from 711.7 million euros in 2005, reflecting higher metal prices (copper 79 pct, zinc 132 pct in 2006). The group said exports accounted for 77.6 percent of total turnover in 2006, up from 67.8 percent in 2005. Gross group profits jumped 94 pct to 118.8 million euros in 2006, while the gross profit margin improved by 0.9 percentage points to 7.6 pct of consolidated turnover.

Consolidated EBITDA jumped 100.2 pct to 95.3 million euros, while operating pre-tax and interest earnings (EBIT) rose 178.2 pct to 72.7 million euros.

Consolidated pre-tax profits soared 314.9 pct to 51.9 million, while after tax and minority earnings soared 930.2 pct to 36 million euros.

[25] Marfin Financial Group says profit up 694 pct in 2006

Loans, after provisions, totaled 1.0 billion euros, up 104 pct from 2005, while saving deposits totaled 1.5 billion euros, up 102 pct from the previous year. Return on equity was 33.8 pct, while return on assets jumped to 11 pct in 2006, from 2.95 pct in 2005.

MFG's board plans to pay a 15.33 euros per share dividend to its shareholders, while it will unveil the terms of a 5.0-billion-euro share capita increase plan in March 5.

A general shareholders' meeting will be held on Thursday 29, March to approve the plan.

[26] Mytilineos Group says EBITDA up 18.8 pct in 2006

The results included both Delta Project (for the second half of 2006) and Hellenic Vehicle Industry. Operating pre-tax and interest (EBIT) earnings rose 18.6 pct to 164 million euros, while EBITDA rose 18.8 pct to 188 million euros last year, and net after and minority earnings totaled 106 million euros.

Assets surpassed 1.36 billion euros last year, from 1.17 billion in 2005.

Turnover by subsidiaries of Aluminium of Greece rose 23.2 pct to 471 million euros in 2006, EBIT was 97 million euros (up 46.4 pct) and EBITDA rose 38.7 pct to 110 million euros. Net after tax and minority profits jumped 48.6 pct to 77 million euros in 2006, from 52 million in 2005.

METKA Group said 2006 turnover rose 30.8 pct to 294 million euros, EBIT rose to 56 million euros (from 49 mln euros in 2005) and EBITDA rose to 61 million euros (from 54 mln euros in 2005). Net after tax and minority earnings rose 8.7 pct to 41 million euros in 2006, from 37 million euros in 2005.

[27] 5th Greek Fashion Week

Kaklamanis said "the institution in question, that constitutes a paramount event for Greek fashion, contributes to the organised promotion of the work of Greek designers, gives a podium for the submission of their artistic contribution and is an opportunity for their distinction abroad."

[28] Tourism dedication on Greece by American magazine

The American magazine Conde Nast Traveller, yet again published a multi-paged dedication on the beauties of Greece.

In its latest edition, extensive reference is made to mainland Greece and to the country's islands.

The publication refers to Zagorohoria, Pilio, Mani, Chios, Folegandros and Santorini, with many instructions for the transportation and stay of American tourists to the specific regions, where hostels of high level operate, including those of the Greek Tourist Organization (EOT).

[29] OA announces low-fare offers for domestic flights

[30] Greek stocks drop 4.05 pct on Tuesday

All sector indices ended lower, with the Raw Materials (7.27 pct), Technology (6.59 pct), Financial Services (5.13 pct) and Industrial Products (4.78 pct) suffering the heaviest percentage losses of the day.

The Big Cap index dropped 4.22 pct, the Mid Cap index ended 4.10 pct down and the Small Cap index fell 5.0 pct.

Viosol (18.75 pct), Atlantic (6.47 pct) and Lanacam (3.59 pct) were top gainers, while Ikona-Ihos (13.04 pct), Klonatex (12.82 pct) and Corinth Pipeworks (12.20 pct) were top losers.

Broadly, decliners led advancers by 284 to 8 with another 15 issues unchanged.

[31] ADEX closing report

The March contract on the FTSE 20 index was traded at a discount of 0.56 pct and on the FTSE 40 index at a discount of 0.76 pct.

Volume in futures contracts on the FTSE 20 index totaled 20,793 contracts worth 255.992 million euros, with 26,786 open positions in the market, while on the FTSE 40 index totaled 2,017 contracts, worth 56.493 million euros with 1,525 open positions.

Volume in futures contracts on equities totaled 20,351 contracts worth 18.450 million euros with investment interest focusing on Intracom's contracts (3,798), followed by Eurobank (536), OTE (934), PPC (2,020), OPAP (659), Piraeus Bank (673), Alpha Bank (1,344), ATEbank (1,300), Viohalco (1,249) and Mytilineos (990).

Volume in stock repos totaled 8,780 contracts and in reverse stock repos 3,429 contracts.

[32] Greek bond market closing report

The 10-year benchmark bond (July 20, 2016) was the most heavily traded security with a turnover of 587 million euros, with the yield spread between the 10-year Greek and German bonds rising to 0.235 percent. The Greek bond yielded 4.22 pct and the German Bund 3.99 pct.

In the domestic interbank market, interest rates were mixed. National Bank's overnight rate fell to 3.57 pct from 3.58 pct on Monday, the two-day rate was 3.58 pct, the one-month rate rose to 3.74 pct from 3.73 pct and the 12-month rate fell to 4.085 pct from 4.12 pct on Monday.

[33] Foreign Exchange Rates - Wednesday

U.S. dollar 1.333

Pound sterling 0.679

Danish kroner 7.513

Swedish kroner 9.32

Japanese yen 158.94

Swiss franc 1.631

Norwegian kroner 8.123

Cyprus pound 0.584

Canadian dollar 1.548

Australian dollar 1.682

General News

[34] Wintery weather, snow and rain in northern Greece

Snow was falling in the northwestern city of Florina, while intermittent snowfall was recorded at higher altitudes in the prefectures of Kozani and Kastoria.

Snow chains were necessary in the prefectures of Imathia and Pella, northern Greece, particularly in the region of the Tria-Pente Pigadia and Vora ski resorts. Similar road conditions were reported on the Florina-Kastoria provincial road network via Vitsi as well as on the Kastoria-Ioannina provincial road network.

Rain was falling in Thessaloniki since the early morning hours, with temperatures between 3 and 7C, with intervals of light snow in the surrounding regions.

[35] Conference on river pollution risk through industrial accidents

The conference was organised by the Central Macedonia Region within the framework of the River Shield project.

The INTERREG IIB CADSES-funded project seeks to protect rivers from pollution caused by industrial accidents via the development and implementation of risk management, prevention and optimum response strategies.

The pollution risk was calculated by using the Water Risk Class (WRC) index to evaluate the substances that could end up in the water based on their toxicity and other characteristics, such as the rate of accumulation in the human body.

[36] Culture minister inaugurates exhibition on Greek political cartoons

'Cartoons are a political art, they are a coded formation of the exercise of politics and flourish in all the democracies as a modern form of art,' said Voulgarakis who awarded an honorary plaque to cartoonist Spyros Ornerakis.

[37] Conference on Greek author Kazantzakis at New York University

The conference is organised by NYU's Greek Studies department and the Hellenic Foundation for Culture.

The programme for the conference will include lectures by academics from universities in Greece, the U.S., Canada and Australia, the screening of a film on the author's life, the reading of excerpts from the play "Kapodistrias" and perfor-mances of songs composed by Mikis Theodorakis based on Kazantzakis' writing.

[38] World forum against poverty to be held in Athens in March

The main theme of the 6th Forum is 'Local Democracy for the eradication of Poverty'.

According to the United Nations, the city of Athens constitutes an important symbolism.

Invited to attend the Athens forum will be representatives of governments, regions, government organizations, international organizations and cultural foundations from all over the world, as well as 50 mayors and representatives of municipalities from less developed or underdeveloped countries of the world.

[39] Doctor charged with fraud over alleged cancer cure

EOF has repeatedly asked the doctor to provide evidence of his claims for the alleged cancer drug, which he has failed to supply.

The Greek Medical Assocation had decided to remove the doctor's licence to practice for three years but he appealed against the decision and was continuing to work.

The 60-year-old has been ordered to stand trial.

[40] Fighter plane crashes near Tanagra air base, pilot saved

According to the defence ministry, the Mirage 2000 crashed in the Evoikos Gulf region near Mount Chtypas shortly after taking off from Tanagra.

A rescue operation has been launched to find and bring the pilot to safety.

Based on the information so far, the crash is provisionally attributed to mechanical failure.

[41] U.S. Consulate in Thessaloniki donates baggage check apparatus

"The donation is taking place in the framework of promoting our common goals, which are the better serving and security of investments and of tourism, the combatting of drugs, organised crime and terrorism," said the General Consul Hoit Yee.

Minister of Macedonia and Thrace George Kalantzis said the donation was "welcome", adding that "Greece is the safest country for investments and tourism in southeastern Europe."

The apparatus costs 65,000 dollars and is the second to be added to the technological equipment of the "Makedonia" passenger station. A successful test was carried out during the ceremony when two pistols and a knife were placed in suitcases.

Port Authority chief Ilias Sionidis thanked Yee, stressing that the U.S. government has already donated five operational vessels and revealed that a programme for the procurement, through tendering, of special equipment for all the ports in the country is already under way.

[42] Online application service for UK visas available in Greece

The service is not intended for use by Greek citizens, who do not need a visa to visit the UK.

All applications for visas and visa appointments must be made online at www.visa4uk.fco.gov.uk.

For any enquiries regarding this service, interested parties can contact the embassy at the telephone number 210 72 72 600 or send an e-mail to the address Visas.athens@fco.gov.uk.

[43] Weather forecast: Overcast, rainy on Wednesday

Cyprus Affairs

[44] Famagusta Mayor announces campaign for return of refugees

Mayor of Famagusta Alexis Galanos announced on Tuesday the beginning of a campaign titled ''Give your town a voice'' for the collection of signatures by Famagusta refugees, demanding that they be allowed to return to the fenced-off town.

Galanos said that if the legitimate inhabitants return to Famagusta, the town could become a workshop of cooperation between the two communities and economic growth, which would be a bright example of what can be done in Cyprus.

He said Famagusta is an exceptional case because it is ''a ghost town, which is being held by the Turks as an ace up their sleeve to use in blackmailing regarding the Cyprus problem.''

''Thirty three years have passed and the situation is unacce-ptable,'' Galanos pointed out, noting that in the meantime ''Turkey is knocking on Europe's door and wants to appear as a civilised European country.''

The Mayor said books or parchments will be prepared for signing during the second fortnight of April and expressed certainty that no refugee from Famagusta would refuse to sign the petition.

He said this declaration would gather twenty thousand signa-tures from the Famagusta refugees living in Cyprus and abroad.

Galanos also said Famagusta refugees would assemble on March 1 in Nicosia, in an event to which politicians, repre-sentatives of organisations and others have been invited to be briefed on the campaign and to give their support.

''If the return is achieved, Famagusta will become a workshop of cooperation between the two communities and economic growth, which will present a bright example of what can be done in Cyprus, if we achieve the solution we are all hoping for,'' Galanos concluded.

Cyprus, which joined the EU in 2004, has been divided since 1974, when Turkey invaded and occupied its northern third.

[45] Britain: Republic of Cyprus designates airports on the island

The Republic of Cyprus has a complete and exclusive sove-reignty over the entire island of Cyprus and alone has the right to designate an airport for the purposes of the Chicago Convention, said a letter by the British Department for Transport to the so-called Turkish Cypriot airlines.

A spokesman of the Department confirmed that a letter was sent to the airline to give them a final answer to their application that the British government allows direct flights between the UK and the illegal airport at Tympou (Ertzian), in the areas of the Republic of Cyprus occupied since the Turkish invasion of the island in 1974.

The reply given to the legal counselors of the Turkish Cypriot company on February 20 said the Republic of Cyprus has made no such designation in respect of the illegal airport.

"The Republic of Cyprus has a complete and exclusive sove-reignty over the entire island and alone has the right to desi-gnate an airport for the purposes of the Chicago Con-vention. The Republic of Cyprus has made no such designation in respect of Ertzian," the letter stressed.

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