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Athens News Agency: Daily News Bulletin in English, 07-08-02

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

Thursday, 2 August 2007 Issue No: 2660

CONTENTS

  • [01] Inner Cabinet approves bill on utilisation of EU funds for NSRF covering 2007-2013
  • [02] Bill on NSRF on EU funds to be tabled in Parliament on Thursday
  • [03] Opposition parties respond to implementation of NSRF for 2007-3013
  • [04] KYSEA appoints first Rural Police chief
  • [05] Exclusive interview with new Cyprus FM
  • [06] Draft bills on tax evasion, new road tabled in Parliament
  • [07] Bill on research and technology passed in Parliament
  • [08] Development Minister Sioufas departs for Azerbaijan
  • [09] Balkan Export drops timber operations, switches to real estate
  • [10] Greece's PMI up to 54 points in July
  • [11] Alpha Bank net profits up 48.4% in first half 2007
  • [12] Attica Bank says net profits increased to nearly 7.17 million euros
  • [13] Athens is sixth most popular destination for British Airways passengers
  • [14] Cosmote announces 86% reduction in roaming charges
  • [15] Ygeia group consolidated turnover at 57.18 million euros
  • [16] Marak Electronics signs cooperation agreement with Spain's Circutor
  • [17] Alapis ABEE subsidiary in Belgrade
  • [18] Panagopoulos reappointed president of ERT SA
  • [19] The 7th Lakonia General Trade Fair to open in Mystras on August 26
  • [20] Bourse resumes downward slide on Wednesday
  • [21] ADEX closing report
  • [22] Greek bond market closing report
  • [23] Foreign Exchange Rates - Thursday
  • [24] More fires reported as government again pledges compensation
  • [25] Souflias on progress of flood prevention projects on Parnitha
  • [26] PM Karamanlis sends telegram of condolences to the Patriarchate of Romania
  • [27] PASOK leader sends condolences for death of Romania's Patriarch
  • [28] Events on Samos marking the 183rd anniversary of the Naval Battle of Mykali
  • [29] Aristotle University students compete in the Imagine Cup 2007
  • [30] American students participate in cleanup project in Pilea, Thessaloniki
  • [31] Prostitution arrests in Kilkis
  • [32] Woman arrested on drug charges in Thessaloniki
  • [33] Scattered cloud on Thursday
  • [34] Spokesman: Buyukanit's statements unacceptable Politics

  • [01] Inner Cabinet approves bill on utilisation of EU funds for NSRF covering 2007-2013

    The Inner Cabinet, chaired by prime minister Costas Karamanlis, on Wednesday approved the new draft law on utilisation of the EU funds earmarked for Greece and implementation of the country's National Strategic Reference Framework (NSRF) covering the period 2007-2013.

    National economy and finance minister George Alogoskoufis told reporters after the meeting that Greece was slated to receive from the EU nearly 24.5 billion euro, in current values, under the NSRF, adding that it was a very large developmental opportunity for the country.

    "It is, perhaps, the last major opportunity for taking advantage of such resources, and it is of great importance that those funds are utilised in the best possible way," he said.

    "We have learned from past experiences, and the draft law approved today by the Inner Cabinet provides for a much simpler system," Alogoskoufis said, explaining that it provided for fewer operational programmes (13) -- eight sectoral and five regional programmes -- as wel as fewer programme materialisation agencies.

    He said there were three important initiatives currently in progress at the present time: the NSRF bill for the country's development, the draft law on tax-evasion which was slated for tabling in parliament later on Wednesday and which "will help, in a just way, to having the funds necessary for the function of the social state", and the National Social Cohesion Fund bill which aims at "improvement of the social state and confrontation of poverty, which is a large social problem".

    Deputy economy minister Christos Folias, in turn, said that the NSRF 2007-2013 bill was the result of wider deliverations and acceptable to the whole of the country, adding that it was a landmark in the management of programmes as it ensured greater transparency and yield.

    Folias said that NSRF's 13 operational programmes had been drafted early and approved by the EU, making Greece one of the first member states to submit the relevant plans.

    Regarding compensations for losses suffered in the recent wildfires, Folias said that a final census would be drafted, after which the relevant application would be submitted to the EU.

    To a question on main opposition party PASOK's stance on the issue, Folias accused PASOK of "criticism before the fact and distrust", saying it was shameful that it was exercising opposition "over the ashes".

    [02] Bill on NSRF on EU funds to be tabled in Parliament on Thursday

    The bill on the country's National Strategic Reference Framework (NSRF) on the utilisation of the EU funds earmarked for Greece for the period 2007-2013, will be tabled in Parliament on Thursday, National Economy and Finance Minister George Alogoskoufis told a press conference on Wednesday, following its approval by an Inner Cabinet meeting, chaired by Prime Minister Costas Karamanlis.

    The bill foresees funding amounting to 24.6 billion euros. Alogoskoufis said that the first installment of 500 million euros is expected to be available in October after the approval by the European Union of the whole package of the NSRF regional and sectorial programmes.

    Among the projects to be financed through this new Community Support Framework are the Thessaloniki Metro, the completion of the Egnatia Highway in northern Greece as well as of the railway network Patras-Athens-Thessaloniki.

    Alogoskoufis underlined that the Greek economy must capitalise on this opportunity as it is the last time the country will receive such important amounts of community funds, since Greece counts henceforth among the rich EU member-states.

    [03] Opposition parties respond to implementation of NSRF for 2007-3013

    Main opposition Panhellenic Socialist Movement (PASOK) spokesman Petros Efthymiou on Wednesday evening responded to the statements made earlier in the day at the Inner Cabinet meeting by Economy and Finance Minister George Alogoskoufis on the draft law for the utilisation of the European Union funds and the implementation of the National Strategic Reference Framework (NSRF) for the period 2007-2013.

    Commenting on the draft law, Efthymiou said, "it is in the wrong direction and constitutes a monument of complexity, bureaucracy, a waste of funds, while it does not contribute at all in the effectiveness of the management of the developmental interventions of the 2007-2013 period."

    Efthymiou said that the relevant draft law "was presented by the government with a great delay and apparently because it is being pressured to change the agenda and to present some form of work," adding that "in 2004 prices, the 4th Community Support Framework (CSF) which the government 'secured', is minus 26% in comparison to the PASOK's negotiating success with the 3rd CSF."

    A similar statement was made by PASOK's Economy Department.

    On its part, the press office of the Communist Party of Greece (KKE) said:

    "The working people will not receive anything and should not hope to expect anything from the NSFR's 24.6 billion euros for the 2007-2013 period. To the contrary, the sum will be used against them so as to support the much talked about Lisbon Strategy which sacrifices the rights of the working people to the alter of the competitiveness of the monopolistic groups."

    Political Secretariat member and Economy and Social Policy Department head of the Coalition of the Left, Movements and Ecology (Synaspismos), Panagiotis Lafazanis said:

    "The draft law which the government submitted for the 4th CSF (NSFR) renders even more concentrated, clientele and bureaucratic the management of the 4th CSF, while a major part of it is privatised with its assignment to private companies, at the same time when brushed aside is almost all local administration and the democratic programming with the participation of local agencies. The danger of new funds being lost from the last for our country's EU package is almost certain."

    [04] KYSEA appoints first Rural Police chief

    Retired Lt. General Dimitris Nikolakopoulos was named as the first chief of the Rural Police on Wednesday by the Government Council for Foreign Affairs and Defence (KYSEA), chaired by prime minister Costas Karamanlis.

    Public order minister Vyron Poloydoras announced the appointment after the meeting, praising Nikolakopoulos as a worthy officer with a zeal for succeeding in his new duties.

    He also said that that the operation of the Rural Police, also dubbed the 'ecology police, was being accelerated, adding that the force would also contribute to firefighting operations.

    Polydoras said that the first rural police would take up duties after August 15, carrying out patrols in order to aid in the fire-prevention efforts.

    He noted that the rural police, at the initial stage, would take up duty following elementary training, while the regular three-week training course would take place after the fire-prevention season.

    The aim, the minister added, was for the new corps to contribute in environment-related efforts.

    PASOK comments

    Main opposition Panhellenic Socialist Movement (PASOK) spokesman Petros Efthymiou on Wednesday evening commented on the government's decision to re-establish the Rural Police with the employment of 6,000 people.

    "The government has lost control of the country's governance. At the time when there is great need for strengthening the crucial sector of (forest) fire-fighting, the government had committed itself in employing 3,000 people in the Fire Brigade, it convenes the Government Council for Foreign Affairs and Defence (KYSEA) with the sole purpose of announcing the head of the new corps of the Rural Police," Efthymiou said.

    The PASOK spokesman said that "the government is not aware of the country's needs" and attributed the re-establishment of the corps "to the serving of the party needs of the (former prime minister Constantine) Miitsotakis government in the 1990-93 period," adding that "the current government felt committed to party obligations."

    [05] Exclusive interview with new Cyprus FM

    NICOSIA (ANA-MPA/A. Viketos)

    Cyprus' new foreign minister Erato Kozakou-Markoulli on Wednesday stressed that the issue at hand was not what Turkish prime minister Recep Tayyip Erdogan's newly re-elected government would do regarding a solution to the Cyprus issue, but rather what power the government would have with respect to the all-mighty military and the 'deep state' in Turkey, during an exclusive interview with ANA-MPA.

    "Up until the present, at least, it is the army (in Turkey) that decides on the major national issues, including the Cyprus problem," she added.

    Regarding Turkey's EU course, Markoulli said that the Cyprus government's goal was "through this accession course, to see Turkey's transformation into a purely democratic, European country that respects and will apply the European and international law both in its domestic policy and its international attitude".

    Markoulli said that the blame for the stagnation in the Cyprus issue lay exclusively with Turkey "which has not, to date, accepted the agreement of July 8, 2006 and the process of former assistant UN secretary general Ibrahim Gambari".

    She said that the Cyprus government insists on implementation of the July 8, 2006 agreement -- between Cyprus president Tassos Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat -- because "it is an agreement of principles and a process that contains all the guarantees for leading to a good preparation of the groundwork for the commencement of direct talks after real progress has been ascertained".

    Markoulli also noted that the July 8 agreement "distances us from the risk of re-tabling of the Anan agreement in full, or with decorative changes, or the risk of a new failure, which this time around would be disastrous".

    Regarding the matter of trade relations between the EU and the Turkish Cypriots, she said that the draft regulation prepared by the European Commission in June 2004 was unacceptable because "in essence it pre-supposes the opening of the illegal ports and airports in the occupied sector, which contravenes international law and the rules of the international organisations that govern aviation and shipping".

    Markoulli further revealed that the Turksy army refused any discussion on return of the fenced-off area of occupied Famagusta (Varosha) to its legal inhabitants in tandem with the operation of the port of Famagusta under European Commission supervision and with the co-management by both communities on the island.

    The Cypriot foreign minister also warned that if the developments in Kosovo led to a solution based on the Ahtisaari proposals, without prior adoption of the solution by the UN Security Council, a dangerous precedent would be set which would obviously be exploited by Turkey.

    She called the appropriation of Greek Cypriot properties in the occupied sector of Cyprus a "third Attila", explaining that Turkey was attempting to create new territorial faits accomplis in order to further hinder a solution to the Cyprus issue.

    Markoulli also revealed her goal of establishing a Diplomatic Academy at the Cyprus foreign ministry for the continuous training and briefing of the ministry's staff.

    Financial News

    [06] Draft bills on tax evasion, new road tabled in Parliament

    A draft bill on combatting tax evasion and a second for the construction of a national highway from Elefsina to Tsakona were tabled in Parliament on Wednesday.

    The finance ministry's tax evasion bill provides for the creation of a National Council Against Tax Evasion and introduces a deduction from gross taxable income for spending on certain categories of goods and services, amounting to 40 percent of the sum that tax-payers submit receipts for up to a maximum of 8,000 euros.

    It also introduces incentives for exposing tax evaders and reduces additional tax imposed for late submission of tax statements by half, provided that a tax payer uses this right within a deadline of 10 days.

    Other measures reduce fines for tax violations under the book-keeping code and relieve the widow, children, parents and brothers of military personnel killed in the line of duty from inheritance tax.

    The other bill ratifies a contract for the construction, maintenance and exploitation of a new highway from Elefsina to Tsakona via Corinth, Patras and Pyrgos.

    [07] Bill on research and technology passed in Parliament

    The ruling New Democracy (ND) party deputies on Wednesday evening passed a draft law for the "institutional framework for research and technology", which implements the objectives of the Lisbon Treaty for the creation of a unified European area of research and innovation.

    The draft law foresees the tripling of the financing for research over the next six years, from one billion euros annually at present to 3.3 billion euros, so as to touch Gross Domestic Product (GDP) percentages corresponding with the European average. The aim of the draft law is also the linking of financing with performance and assessment, as well as the repatriation of Greek researchers.

    [08] Development Minister Sioufas departs for Azerbaijan

    Development Minister Dimitris Sioufas accompanied by ministry general secretary Nikos Stefanou and senior officials, was due to depart for Azerbaijan on Wednesday to visit the capital Baku at the invitation of Azeri Economic Development Minister Heydar Babayev.

    The two ministers will discuss ways to further boost bilateral cooperation in the sector of energy and the draft cooperation agreement on energy focusing on natural gas and oil. The agreement was suggested by Sioufas during the meeting he had with the Azeri minister in Athens on July 6, 2007.

    The development minister is also scheduled to meet with Azeri Finance Minister Samir Sharifov to discuss financial issues while he will also pay a courtesy call on President Ilham Aliyev.

    Earlier on Wednesday, Sioufas met at the development ministry building in Athens with outgoing Iranian ambassador to Greece Mehdi Mohtashami.

    [09] Balkan Export drops timber operations, switches to real estate

    The northern Greek listed company Balkan Export S.A., a subsidiary of Mechaniki, on Wednesday announced that it was stopping its industrial activities in the timber products sector in order to develop its commercial and real estate operations in Greece and abroad.

    The company said its plans were to invest in the development of urban and rural large housing units and to use urban and other real estate belonging to the company and third parties, with participation in businesses with the same or similar aims and in real estate investment firms.

    It already has a significant share in three companies belonging to the Mechaniki group, while on the domestic market it is considering proposals for exploiting a site of 358.037 square metres at Aghialos in Thessaloniki.

    [10] Greece's PMI up to 54 points in July

    Greece's Purchasing Managers' Index (PMI) rose to 54 points in July from 53.5 points in June, reflecting steadily improving conditions in the manufacturing sector.

    The rate of production in July was the fastest for four months as Greek manufacturers stepped up production in order to meet an increased volume of new work.

    New orders grew strongly in July, with unconfirmed indications that the increased sales were prompted by strong demand in both domestic and foreign markets. Employment rates increased to the highest levels for the past five years as companies took on more staff in preparation for launching new products. Average cost continued to grow strongly in some companies but the rate of increase of import prices slowed down slightly. Higher average cost led manufacturers to strongly increase factory prices in July. Finally, inventory levels fell for the second consecutive month but only moderately while inventory levels for finished products dropped for the 23rd consecutive month.

    The PMI index measures business activity in the manufacturing sector. Readings above 50 indicate a growing sector, while readings below 50 a shrinking sector.

    Piraeus Bank bond loan to General Commercial subsidiary

    General Commercial & Industrial on Wednesday announced the signing of a contract between Piraeus Bank and its subsidiary General Commercial of Northern Greece for the issue an eight-year bond loan for 3.5 million euros.

    The loan will be issued on Friday with Piraeus Bank the sole bondholding creditor and payment manager.

    The money is to be used to refinance the company's existing loans and provide more operating capital.

    [11] Alpha Bank net profits up 48.4% in first half 2007

    Alpha Bank on Wednesday announced that net profits from its continuing operations had increased by 23 percent in the first half of 2007 to reach 374.1 million euros. Net profits overall - including extraordinary items - increased by 48.4 percent to 454 million euros in the same period.

    Return on equity increased to 30.7 percent from 2.84 percent the previous year and gross loans increased by 21.3 percent to 37.5 billion euros. Southeastern European lending increased by 70.5 percent and now accounts for 15 percent of the total loan portfolio.

    Customer assets increased by 14.9 percent to 44 billion euros and net interest income increased significantly by 15.1 percent. Fee and commission income increased by 14.8 percent and the cost to income ratio was 45.9 percent.

    The bank also reported strong capital adequacy with a Tier 1 ratio at 10.1 percent.

    Alpha Bank said its growth in Southeastern Europe was strong and that it expected to have a larger bank network in the Balkans than in Greece by the end of the year, at 447 branches. The rate of growth in the Balkans and Cyprus was 112 percent and 36 percent in the first half of the year, while the conclusion of an agreement for Abank within 2007 will extend its geographical expansion and operations to Turkey.

    Pre-tax profits in SE Europe increased by 32.7 percent to 49.8 million euros, at the same time as the SE European branch network increased by 35 new branches to reach a total of 305, of which 108 were in Serbia, 84 in Romania, 58 in Bulgaria, 16 in Albania, 10 in the Former Yugoslav Republic of Macedonia and 29 in Cyprus.

    This is set to increase by another 97 branches before the end of the year, as well as 45 branches in Turkey.

    Alpha Bank also expects continued strong growth in retail banking in Greece, where pre-tax profits for the first half of 2007 came to 243 million euros and increased 31.4 percent. Mortgages increased by 21.1 percent and came to 9.1 billion euros and other consumer credit balances came to 3.7 billion euros and increased by 25.7 percent. Consumer loans and credit card balances increased by 33.8 percnt and 9.7 percent respectively. Loans to small businesses (with turnover below 2.5 million euros or credit limits up to one million euros) increased by 12.1 percent and loans to very small businesses (credit limits up to 90,000 euros) increased by 17.4 percent.

    In terms of asset management, assets invested in the group's mutual funds came to 5.5 billion euros at the end of June 2007 - an increase of 25.4 percent. Private banking volumes continued expanding to 5.6 billion euros at the end of June 2007, increasing 25 percent.

    [12] Attica Bank says net profits increased to nearly 7.17 million euros

    Attica Bank on Wednesday said that its net profits after tax and minority rights had increased to just under 7.17 million euros in the first half of 2007, up from 297,300 euros in the same period of 2006. Consolidated profits before tax came to 10.11 million euros, up from 241,900 euros in 2006.

    The group's total assets in the first half of 2007 came to nearly 3.35 million euros, an increase of 8.2 percent relative to the whole of 2006 and of 21 percent relative to the first half of 2006.

    PASOK's Papoutsis charges lack of transparency in Tellas sale

    Main opposition PASOK MP Christos Papoutsis on Wednesday demanded that Parliament be briefed on a decision for the sale of Tellas by the board of the Public Power Corporation (PPC), announced the previous day. According to Papoutsis, the decision was "made in secret in conditions lacking transparency" and Development Minister Dimitris Sioufas had an obligation to give Parliament all the details of the decision.

    [13] Athens is sixth most popular destination for British Airways passengers

    The Greek capital of Athens is among the most popular destinations for British Airways passengers, the airline announced on Wednesday.

    Roughly 3 million passengers will be served by British Airways in the month of August and more than half of them will opt for a European destination with Paris, Rome, Nice, Madrid, Barcelona and Athens being the most popular for the sunny and hot weather.

    The ticket bookings for long distance trips with British Airways are recording a 20 percent rise compared to the same period last year as many Britons wish to escape the extreme weather conditions still recorded in Great Britain.

    The US cities of New York, Los Angeles, San Francisco and Boston are steadily the most popular overseas destinations followed by Hong Kong in Asia.

    [14] Cosmote announces 86% reduction in roaming charges

    The mobile phone service provider Cosmote on Wednesday announced an 86 percent reduction in its roaming charges after the end of August, after a cap imposed by the European Union.

    Specifically, roaming charges for outgoing voice calls to the Eurozone will be 0.49 euros per minute (not including VAT), while the charge for incoming calls will be 0.24 euros per minute (not including VAT). The charge will be calculated per second, without any minimum charge.

    [15] Ygeia group consolidated turnover at 57.18 million euros

    The Ygeia group on Wednesday reported a 20 percent increase in its consolidated turnover for the first half of 2007, which rose to 57.18 million euros from 47.59 million euros over the same period in 2006. On a company level, turnover increased 19 percent to 56.18 million euros from 47.25 million euros the previous year.

    The group's net profits increased 926 percent over that period to 8.56 million euros, up from 0.84 million euros in 2006. On a company level they exceeded 8.93 million euros and increased 1713 percent relative to the first half of 2006, when they stood at 0.49 million euros.

    Ygeia's management is continuing to implement a strategic plan that aims to create the largest healthcare provider group in Southeastern Europe and the Mediterranean.

    [16] Marak Electronics signs cooperation agreement with Spain's Circutor

    Bourse-listed Marak Electronics S.A. on Wednesday announced the signature of a strategic cooperation agreement with the Spanish company Circutor, whose operations include the design, development and production of innovative equipment for the electronic meter market.

    The agreement covers Greece, Bulgaria, Romania, Albania and the Ukraine, countries in which Marak Electronics has operations. The size of the market is estimated to exceed a demand of 35 million meters.

    Through the deal, Marak will be able to offer its clients integrated solutions for collecting, processing and monitoring electricity consumption through hi-tech 'smart' meters.

    [17] Alapis ABEE subsidiary in Belgrade

    The listed company Alapis ABEE on Wednesday announced the founding of a Serb subsidiary named Veterin Pharma Doo Beograd to be based in Belgrade, in which Alapis will be the sole shareholder.

    The new company, with a starting capital of 500 euros, will produce and trade in veterinary medicines, animal feed and act as a dealer for foreign brands.

    [18] Panagopoulos reappointed president of ERT SA

    Christos Panagopoulos' reappointment as President of the Board and Managing Director of the state-run radio and television broadcaster ERT SA, was approved Wednesday by the relevant Parliamentary Committee, upon the proposal of Minister of State Theodoros Roussopoulos.

    Deputies of the ruling New Democracy (ND) voted in favour of Panagopoulos' reappointment with main opposition PASOK voting against, while the Communist Party of Greece (KKE) and Syriza (Synaspismos) party abstained from the vote.

    Panagopoulos told the Committee that the landscape in televised broadcasting will change dramatically in the next five years, due to digital broadcasting, a fact that demands "flexibility and personnel capable of responding rapidly and aggressively to the new needs."

    [19] The 7th Lakonia General Trade Fair to open in Mystras on August 26

    The 7th Lakonia General Trade Fair will take place in Mystras, Peloponnese southern Greece, on August 26 to September 2. The fair will be inaugurated by Deputy Economy and Finance Minister Petros Doukas.

    Lakonia Prefecture producers and major companies active in the Peloponnese will present their products at the exhibition, which attracts thousands of visitors each year.

    [20] Bourse resumes downward slide on Wednesday

    Greek stocks resumed a downward trend on Wednesday, correcting gains on the previous day. The composite index fell 0.68 percent to end at 4,884.07 points with turnover a strong 656.76 million euros.

    Sector indices moved down with the exception of Travel & Leisure, which rose by 1.53 pct and Health, which gained 0.42 pct. Industrials (3.33 pct), Personal & Household (3.09 pct) and Commerce (2.56 pct) scored the biggest percentage losses of the day.

    The Big Cap index fell 0.37 pct higher, the Mid Cap index fell 1.86 pct and the Small cap index ended 1.57 pct down.

    Rilken (9.93 pct), Tsoukaridis (9.49 pct) and Tzirakian (9.15 pct) were top gainers, while Unibrain (-12.92 pct), Anek (PO' 90) (-9.81 pct) and Biosol (-9.68 pct) were top losers.

    Broadly, decliners led advancers by 242 to 40 with another 21 issues unchanged.

    Sector indices ended as follows:

    Insurance: -2.25%

    Industrials: -3.33%

    Commercial: -2.56.%

    Construction: -1.76%

    Media: -1.52%

    Oil & Gas: -1.31%

    Personal & Household: -3.09%

    Raw Materials: -0.63%

    Travel & Leisure: +1.53%

    Technology: -1.92%

    Telecoms: -0.92%

    Banks: -0.26%

    Food & Beverages: -2.13%

    Health: +0.42%

    Utilities: -1.67%

    Chemicals: -2.39%

    Financial Services: -2.53%

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

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

    Alpha Bank: 24.32

    ATEbank: 3.86

    Public Power Corp (PPC): 21.74

    HBC Coca Cola: 32.02

    Hellenic Petroleum: 10.60

    Emporiki Bank: 20.50

    National Bank of Greece: 43.60

    EFG Eurobank Ergasias: 26.78

    Intralot: 25.46

    Cosmote: 21.92

    OPAP: 26.32

    OTE: 22.00

    Titan Cement Company: 37.40

    [21] ADEX closing report

    Futures contract prices increased their discount in the Athens Derivatives Exchange on Wednesday, with turnover reaching to 191.518 million euros.

    The September contract on the FTSE 20 index was traded at a discount of 1.48 pct while the August contract on the FTSE 40 index at a discount of 0.68 percent.

    Volume in futures contracts on the FTSE 20 index totaled 9,979 contracts worth 127.069 million euros, with 39,952 open positions in the market, while on the FTSE 40 index volume was 1,371 contracts worth 43.855 million euros, with 1,591 open positions.

    Volume in futures contracts on equities totaled 10,329 contracts worth 20.593 million euros, with investment interest focusing on Post Office Savings Bank's contracts (1,285) followed by Intracom (988), Eurobank (940), National Bank (916), Alpha Bank (869), Viohalco (853), OPAP (713), Piraeus (552) and PPC (539).

    [22] Greek bond market closing report

    Turnover in the Greek electronic secondary bond market eased to 657 million euros on Wednesday, of which 341 million were buy orders and the remaining 316 milllion euros were sell orders.

    The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 230 million euros. The Greek bond yielded 4.66 pct.

    In the domestic interbank market, interest rates were mixed. National Bank's overnight rate was 4.05 pct, the two-day rate 4.07 pct, the one-week rate 4.07 pct, the one-month rate 4.10 pct, the three-month rate 4.26 pct, the six-month rate 4.36 pct and the 12-month rate 4.52 pct.

    [23] Foreign Exchange Rates - Thursday

    Reference buying rates per euro released by the European Central Bank:

    U.S. dollar 1.377

    Pound sterling 0.68

    Danish kroner 7.500

    Swedish kroner 9.333

    Japanese yen 163.2

    Swiss franc 1.656

    Norwegian kroner 8.056

    Cyprus pound 0.588

    Canadian dollar 1.467

    Australian dollar 1.617

    General News

    [24] More fires reported as government again pledges compensation

    New fires were reported in various areas of Greece on Wednesday, including one that began at Despotika in the prefecture of Preveza shortly before 14:00 and quickly spread into the surrounding mountains, creating a front 700 metres long.

    A strong fire-fighting force, including three Canadair aircraft dropping water from the air, were sent to tackle the blaze.

    Another fire that began at dawn on Wednesday at Platanakia near Kerkini in the prefecture of Serres was under full control, the fire department reported at around midday. Despite high wind and difficult conditions that prevented fire-fighting aircraft from approaching the fire, it did not pose a threat to any inhabited areas and burnt only two hectares of low vegetation. It was attributed to a bolt of lightning.

    Also subsiding is a fire that broke out at Akoumia in the prefecture of Rethymno on Crete, which has so far claimed about 150 hectares of agricultural land and olive groves and another 350 hectares of open pasture.

    Two more small fires were reported on Wednesday morning in the Cretan prefecture of Chania, one at a rubbish dump at Aghia Marina and another in the area of Vantes. Both fires were quickly placed under control.

    In a statement in Athens, meanwhile, Economy and Finance Minister George Alogoskoufis gave assurances that the victims of the devastating fires that occurred in July would receive the compensation provided by law and more.

    He said that the government was doing everything in its power to deal with the problem.

    Regarding when this compensation would be given, he said that this would have to be preceded by an assessment of the damage.

    According to Deputy Finance Minister Christos Folias, grants of 10 million euros were envisaged for restoring damages in the prefecture of Achaia.

    On Crete, a midday meeting was held at the headquarters of the Chania prefecture and the head of the island's Hellenic Agricultural Insurance Organisation in order to immediately begin processes to compensate fire victims at Anatoliko Selino, where a lot of agricultural units suffered damage.

    The meeting also highlighted the need to immediately carry out flood protection works and said it would apply for 300,000 euros to repair damaged infrastructure, such as roads and the water supply network.

    In the northern Greek city of Alexandropoulis, the Eastern Macedonia and Thrace General Secretary Mihalis Angelopoulos paid a visit to a fire brigade unit based at Alexandroupolis airport, consisting of ground forces transported to fires by air, accompanied by the regional chief of the Fire Brigade Constantine Karapatakis and the governor of the Alexandroupolis Fire Brigade Christos Roufos.

    Angelopoulos praised the unit for its effective contribution to putting out major fires in the prefecture of Evros in the past week and said that he would every effort to cover the unit's needs.

    The unit is responsible for the five prefectures of Eastern Macedonia & Thrace and is comprised of 17 permanent firemen and 72 seasonal firemen. They are currently also being assisted by a KAMOV fire-fighting helicopter sent by Russia, manned by a 12-member crew and technical personnel.

    [25] Souflias on progress of flood prevention projects on Parnitha

    Environment Minister George Souflias on Wednesday reported that works to stop flooding and soil erosion on fire-ravaged Parnitha were progressing at a rapid pace and would be finished before winter. He was replying to questions put to him by MPs in Parliament.

    Souflias said that the Parnitha forestry department was already preparing the relevant studies and was now working on one for the Eschatia region, a project budgeted at 120 million euros that was included in the 4th Community Support Framework.

    MP for Achaia Costas Spiliopoulos criticised the government, however, for failing to announce any similar action in the wake of huge fires in Egio, stressing that the danger from landslides was extremely grave. He said that the Parnitha model should also be implemented in other areas.

    He also urged that farmers in the region be compensated for at least 50 percent of their losses, so that they would not have to abandon the region.

    [26] PM Karamanlis sends telegram of condolences to the Patriarchate of Romania

    Prime Minister Costas Karamanlis on Wednesday sent a telegram of condolences on behalf of the government and the Greek people to the Patriarchate of Romania over the death of Patriarch of Romania and Archbishop of Bucharest Theoktistos.

    The prime minister expressed grief over the death of the Romanian Patriarch, stressing that he was distinguished for his devotion, prudence and consistent efforts aimed at benefiting the Church of Romania and the faithful.

    Patriarch Theoktistos died on Monday evening at the age of 92 after suffering a heart attack following prostate surgery at Fundeni hospital in Bucharest.

    [27] PASOK leader sends condolences for death of Romania's Patriarch

    Main opposition PASOK leader George Papandreou on Wednesday sent a telegram expressing his condolences for the death of Romania's Patriarch Theoktistos to the Holy Synod of the Romanian Patriarchate and its 'locum tenens' - a cleric that temporarily leads the Church until the new Patriarch is elected.

    In the telegram, Papandreou noted that Patriarch Theoktistos was a "prelate that had made a great contribution to the Orthodox Church of Romania and to Inter-faith dialogue" and was a "spiritual leader with international recognition" as well as being a true friend of Greece.

    [28] Events on Samos marking the 183rd anniversary of the Naval Battle of Mykali

    The 183rd anniversary of the Naval Battle of Mykali will be commemorated with three-day cultural events to take place at the municipality of Pythagorio on the Aegean island of Samos on August 4-6.

    The government will be represented in the events by Deputy Finance Minister Petros Doukas.

    [29] Aristotle University students compete in the Imagine Cup 2007

    Thessaloniki's Aristotle University will take part in the Imagine Cup 2007 technical competition organized for a fourth year by Microsoft and aimed at encouraging student innovation.

    Four Electrical Engineering and Computer Engineering Department students will compete in Seoul, Korea on August 5-10 with another 350 students from 100 universities worldwide for the best education-promoting application.

    The Greek mission will compete with the project "Noesis" aimed at assisting learning procedures for autistic children.

    The specific application is able to record stress levels experienced by autistic children while playing or learning through wireless technology. The educator can monitor the progress made by each child through a portable computer or PC, while the parents can be briefed on the child's learning level via mobile phone.

    In the 2004 and 2005 competitions, undergraduate Aristotle University students occupied the 2nd and 3rd place respectively with the projects SmartEyes, assisting the visually impaired, and Sign2Talk, allowing two-way communication between people with hearing problems and people without.

    [30] American students participate in cleanup project in Pilea, Thessaloniki

    Sixteen students from the United States participated in a one-week cleanup project focusing on the removal of waste from a 5km-long ravine in the Pilea Municipality, Thessaloniki.

    The initiative was undertaken by the US volunteer organization International World Changers, active in environmental issues in the Mediterranean and Africa.

    On the occasion of the completion of the endeavor, the local mayor hosted a dinner in honor of the students which was also attended by US Consul General in Thessaloniki, Hoyt Brian Yee.

    [31] Prostitution arrests in Kilkis

    Two men were arrested in Kilkis, northern Greece, accused of forcing a 19-year-old Bulgarian woman into prostitution .

    The detainees, a 28-year-old Bulgarian and 46-year-old Greek, as well as the young woman, will be led before a prosecutor.

    [32] Woman arrested on drug charges in Thessaloniki

    A 32-year-old woman was arrested in Meteora, Thessaloniki after police found a large quantity of heroin stashed away in her apartment.

    The police search revealed over 3 kilos of heroin and a total of 126 narcotic pills hidden in the suspect's apartment.

    Weather Forecast

    [33] Scattered cloud on Thursday

    Partly cloudy weather and northerly, northeasterly winds are forecast throughout the country on Thursday, with wind velocity reaching 6-7 beaufort in the Aegean Sea. Temperatures will range between 16C and 33C. Scattered cloud in Athens, with winds reaching 4-5 beaufort and temperatures ranging from 23C to 32C. Similar in Thessaloniki, with temperatures ranging from 22C to 30C.

    Cyprus Affairs

    [34] Spokesman: Buyukanit's statements unacceptable

    NICOSIA (CNA/ANA-MPA)

    Government Spokesman Vassilis Palmas on Wednesday described as "unacceptable and condemnable" statements by Chief of the Turkish General Staff General Yasar Buyukanit as regards what President of the Hellenic Republic Karolos Papoulias has said concerning the Turkish occupation army in Cyprus.

    Palmas said that "the aggressive attitude of the Turkish army and its decisive role in the political life of Turkey and of course the decisive role it unfortunately plays as regards the Cyprus question and the withdrawal of the Turkish troops from the occupied part of Cyprus are being confirmed."

    Buyukanit had condemned all those who see Turkish armed forces in Cyprus as an occupation force, noting that the Turkish army is in Cyprus "to protect the life and properties" of Turkish Cypriots.

    Palmas noted that the things which President Papoulias said and for which the Turkish army has been extremely annoyed are self-evident in the modern society in which we live within the European community and wondered why the Turkish military reacted in such a way.

    Asked whether Buyukanit also intended to give a message to Turkey's political leadership, the spokesman said that "given the fluidity prevailing in the political environment of Turkey, everyone is trying in his own way to show his power and the potentials he has to play a role in this country, something which unfortunately affects also the possibility of creating preconditions for progress in the Cyprus question."

    Asked if there is any development as regards meetings between Director of the Diplomatic Office of the President of the Republic Tasos Tzionis and Rasit Pertev, advisor to Turkish Cypriot leader Mehmet Ali Talat, in the framework of the 8 July Agreement, Palmas said there was not development and no meeting has been fixed.

    As regards statements by Hasan Ercakica, spokesman of the Turkish Cypriot leader, who accused the Greek Cypriot side of trying to "minimize" the possibility of a meeting between Talat and Cyprus President Tassos Papadopoulos in the framework of the 8 July Agreement, Palmas said that "we have sent a letter to Mr Moller (Special Representative of the UNSG in Cyprus) requesting that the process for the implementation of the 8 July Agreement begins."

    "It is up to the other side to outline its position explicitly as regards our political approach concerning this issue," he added.

    Asked whether the UN have responded to this letter, Palmas said there was no response so far.

    Furthermore he noted that both the Greek Cypriot side, the UN Security Council and the international community in general deem that the only concrete step towards the creation of preconditions for progress in the Cyprus question is the 8 July Agreement for which everyone has taken a positive position.

    "We therefore call on the Turkish Cypriot side to respond and honour its signature as regards the 8 July Agreement, reached between the Greek Cypriot side, the Turkish Cypriot side and Mr. Gambari," Palmas concluded.

    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 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 of the Cyprus problem.

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

    36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana-mpa.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: GEORGE TAMBAKOPOULOS


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