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Athens News Agency: Daily News Bulletin in English, 09-03-31Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>Tuesday, 31 March 2009 Issue No: 3159CONTENTS
[01] PM Karamanlis briefed by interior minister on absentee voting billPrime minister Costas Karamanlis met on Monday with interior minister Prokopis Pavlopoulos, who briefed the premier on a bill prepared by his ministry introducing absentee voting for Greeks abroad, which is slated for debate by the parliament plenary.Speaking to reporters after the meeting, Pavlopoulos noted that the relevant provision had been voted into the Constitution with the Constitutional revision of 2001 but, "unfortunately, there had been no initiative on the part of PASOK, as government, nor has there been consensus by PASOK as the main opposition party". He said that this was something that PASOK should seriously ponder because "if it does not vote in favor or the relevant bill, through its own negative initiative it will deprive those Greeks outside the country of the ability to vote from their place of residence". Pavlopoulos further said that the Prefectural Administration Code would be immediately tabled in parliament, for voting by the end of the current parliamentary (plenary) session (before the summer recess sessions begin), as State General Accounts Office has completed its drafting. The minister also briefed Karamanlis on preparations being made, in conjunction with the local governments, for the fire-protection period, referring to the fire high-risk period throughout the summer months. [02] PASOK spokesman on Greek expatriates' voting rightsPASOK party spokesman George Papaconstantinou said on Monday on the issue of expatriate Greeks having the right to vote and commenting on statements by Interior Minister Prokopis Pavlopoulos, that the government "is pretending not to understand and is trying to deceive expatriates since it needs at least 200 deputies to ratify its bill on their voting."The spokesman further said that a part of the minister's reference was made "to attack PASOK". [03] PM Karamanlis holds telephone conversation with Czech counterpartPrime Minister Costas Karamanlis held a brief telephone conversation with Czech Prime Minister and current European Union President Mirek Topolanek on Monday afternoon, focusing on the meeting between EU heads of state and government with U.S. President Barack Obama in Prague on Sunday.[04] Athens: Resolving fYRoM 'name issue' key to Euro-Atlantic course, improved tiesGreece on Monday announced that the country's foreign minister again emphasised to her counterpart in the former Yugoslav Republic of Macedonia (fYRoM) that Athens considers the "name issue" as the paramount problem standing in the way of fully normalised bilateral relations.In her reply, dated March 24, Greek Foreign Dora Bakoyannis reminded that Athens has demonstrated a sincere volition over recent years to develop normal and productive bilateral relations. "Let me remind you in this respect that Greece has demonstrated, in practice, her willingness and preparedness to settle the issues that divide our two countries, as well as to build good neighbourly relations and to establish close cooperation in all fields with the former Yugoslav Republic of Macedonia," Bakoyannis states. Moreover, in broaching the eyebrow-raising proposal by fYRoM FM Antonio Milososki earlier this month for the establishment of a bilateral committee to "examine" historical issues, Bakoyannis was crystal clear: "... I would like to emphasize that history is a science that establishes historical truth through scientific methods. It cannot and should not be subject to political expediency or any other political considerations. In this sense, history is not negotiable. The history of the ancient world has already been written and documented, over the centuries, through laborious scientific research by acclaimed international historians and archaeologists. It cannot be rewritten by a bilateral committee." In concluding her letter, Bakoyannis focuses directly on the resolution of the 19-year-old "name issue", noting that "...the catalyst for the improvement of the relations between our two countries is the long overdue definitive settlement of the 'name issue', in all its aspects. This would pave the way for the fulfilment of the European and the Euro-Atlantic perspective of your country, in accordance with the collective and unanimous decisions taken by the member-states of NATO and the EU," she said, citing the 2008 Bucharest summit joint communiqué and a European Council decision in June 2008. Additionally, she said improvement of bilateral relations and increasing bilateral cooperation between the two neighbouring states necessitates "...respect of the fundamental principles on which good neighbourliness is based, as provided by the Interim Agreement." Moreover, Bakoyannis pointed to the significant level of Greek private sector investments and business activity in the landlocked one-time Yugoslav republic while at the same time decrying what she called "numerous difficulties and obstacles (faced by Greek businesses and entrepreneurs there), including discriminatory and 'red tape' practices, acts of harassment and intimidation, even a boycott against their products..." [05] Foreign ministry spokesman on FM's visit to TbilisiForeign Ministry spokesman George Koumoutsakos, replying on Monday to a question on the outcome of Foreign Minister Dora Bakoyannis's visit to Tbilisi (in the capacity of the OSCE presidency), spoke of an extremely sensitive and unstable balance in the region that renders difficult the effort to achieve a coincidence of views on the renewal of the mandate concerning the OSCE delegation's stay in Georgia."The Greek presidency is continuously making efforts, seeking the common denominator to enable the delegation to remain in the region. A delegation which, as also appeared from the recent events, is absolutely necessary and is considered expedient and useful. Our efforts are based on the logic that every solution must not attack the red lines of the sides. Our effort is to depoliticise the issue of the renewal of the mandate and, through the promotion of its technical characteristics, for us to be able to achieve the compromise and the coincidence of views," he said. [06] Gov't on economy, economic crisisGovernment spokesman Evangelos Antonaros stated that he has no new measure to announce, commenting on the likelihood of the implementation of new economic measures in response to the high deficit of the economy adding, however, that the international economic crisis is still unfolding.As regards the General Confederation of Workers of Greece (GSEE) and the Civil Servants Supreme Administrative Council (ADEDY) mobilizations, he expressed certainty that the trade union federations will not go beyond their institutional role. GSEE and ADEDY have called a nationwide general labor strike on Thursday. [07] PASOK spokesman on economyMain opposition PASOK party spokesman George Papaconstantinou said on Monday, referring to statements by the finance and economy minister on exports firms, that such announcements would be suitable "if the current risis did not exist," adding that a series of proposals by the exports agencies "were not included in the minister's announcements.""We would expect from the government to acknowledge that PASOK has tabled a question in Parliament on the issue of Citibank," he said, commenting on statements by Deputy Development Minister George Vlachos that the fine imposed on Citibank took place following "reports by fellow citizens of ours." [08] Former PM Simitis on state of economyFormer prime minister Costas Simitis, addressing an event organised by the main opposition PASOK party's Prefectural Committee in the Thessaloniki A' constituency on Monday, stressed that the government's measures "cannot handle the economic crisis".Simitis added that Greece's "greatest enemy is not the European Union's Stability Pact but the problems of its economy". He also referred to "the lack of competitiveness, the deficit in the balance of payments, the country's high debt and the decline in the growth rate." [09] Gov't on PM, opinion pollsGovernment spokesman Evangelos Antonaros on Monday stressed that the "meetings between government ministers are self-explanatory", commenting on a recent meeting between Foreign Minister Dora Bakoyannis and Environment, Town Planning and Public Works Minister George Souflias, underlining that this is a "non issue".Responding to a question on what the prime minister had in mind when he spoke of "other quarters' concern and anxiety", addressing an audience on the Ionian island of Zakynthos, Antonaros clarified that he was referring to the main opposition PASOK party, and suggested a more careful reading of the premier's speech. Commenting on the public opinion polls showing that a vast majority of ruling New Democracy (ND) voters want Prime Minister Costas Karamanlis to remain at the party's helm even in the event of an electoral defeat, Antonaros stated that they reflect current trends. As regards the recent opinion polls that show ND trailing behind PASOK, Antonaros stressed that "elections will not be held tomorrow", pointing out that based on past experience government's that were lagging behind in opinion polls managed to win in elections. [10] Minister open to proposals on university asylumEducation Minister Aris Spiliotopoulos, referring on Monday to the issue of university asylum on the occasion of the sit-in protest at the Artistotelio University in Thessaloniki, reiterated that the law exists that protects research, teaching and the airing of ideas in the establishments.The minister also said that he is open to proposals by deans on the best way of implementing the law. As regards the issue arising at the Aristotelio University, he underlined the universities' self-administration character. The Higher Education Council also convened on Monday and dealt with the fragmentation of sectors, the founding of new ones and the preconditions required for their functioning. [11] KKE leader on Europarliament electionsCommunist Party of Greece (KKE) leader Aleka Papariga called for "condemnation" of the European Union's policy and the two mainstream parties -- ruling New Democracy (ND) and main opposition PASOK -- and strengthening of the KKE in tandem, in the June European Parliament elections, during a press conference on Monday at which she outlined her party's platform for the Euroelections.She also called for condemnation of all other parties that could "comprisean alternative choice", noting that, in that sense, the KKE placed the same substance on both the Euroelections and national elections. The basic criterion for the people's vote in the Euroelections should be the parties' stance on the Maastrich Treaty, Papariga said, citing statements by the political parties in 1992 (when the Treaty was agreed), and opined that, under the present circumstances, insubordination and disobedience to, and ultimately disengagement from, the EU for a "different Europe" were realistic targets. Replying to a relevant question on whether the prime minister was "fatigued", Papariga said that it was the people who were "tired of the present ND (government) and the past PASOK (government)". The issue at hand, she added, was "what interests one serves: the capital's, or the people's". On the prospect of double elections being called (general elections in tandem with the Euro-elections), Papariga said that some quarters were consistently putting forward the issue of general elections in an effort to disorient the people and the workers, and stressed the need for success of the labor strike that has been called for Thursday, April 2, adding that the KKE was ready for elections at any time. [12] SYRIZA unveils bank support measuresA package of 11measures aimed at creating "a new progressive banking system that will benefit the country and the Greek people" was presented by the Radical Left Coalition (SYRIZA) in a press conference by affiliated Synaspismos party president Alexis Tsipras on Monday, in view of the general strike called by the public and private sector trade unions this week.Referring to the global economic crisis, Tsipras underlined that "policies adopted by the government and the EU further deteriorate and deepen the crisis," adding that the "workers and the youth" are called to shoulder the heaviest burden. Among the measures he proposed are for the state to re-acquire full control of National Bank while boosting the role of the state in the Hellenic Postbank and the Agricultural Bank of Greece (ATEbank), along with what he called the "utilisation" of state-controlled banks to guarantee favorable housing loans and SMEs. [13] Papoulias receives LA.OS leaderPresident of the Republic Karolos Papoulias received opposition Popular Orthodox Rally (LA.OS) President George Karatzaferis at the presidential mansion on Monday. Karatzaferis told reporters afterwards that he voiced concern as regards the extent of the economic crisis, while he outlined his positions on national issues, stressing that lately they appear to be deteriorating.[14] Patriarchate problems a human rights issue, Athens stressesGreek foreign ministry spokesman George Koumoutsakos on Monday stressed that problems faced by the Ecumenical Patriarchate in Fanar were not bilateral issues confined to Greece and Turkey but broader issues of human rights and religious freedoms that also concerned the European Union and thus directly impacted on the progress of Turkey's EU accession negotiations.He had been asked whether U.S. President Barack Obama intended to meet Ecumenical Patriarch Bartholomew I during his upcoming visit to Turkey, and whether the Greek foreign ministry was working in this direction. Replying, the spokesman said that he did not know the programme for Obama's visit but stressed that matters of respect and recognition of the Ecumenical Patriarchate, of allowing it to carry out its function and mission unobstructed, were "matters of the most major importance, matters of respect and protection of religious freedoms." In addition to the EU, the United States had also displayed strong interest in the protection of religious freedoms, while Greece's great interest in these matters was self-evident, he added. "In this sense, the foreign ministry and the foreign minister raise the issue of the Patriarchate and all related issues - such as reopening the Halki seminary - at all opportunities and with every interlocutor," he said, stressing that Athens' would persevere in this stance as long as the Ecumenical Patriarchate continued to face problems. [15] Athens rejects link between Muslim minority, PatriarchateOn a related issue, Koumoutsakos rejected any connection between issues relating to the Ecumenical Patriarchate and Greece's policy for the Muslim minority in Thrace, describing the two issues as "unrelated". The spokesman was replying to a question regarding a meeting between Archbishop of America Demetrius and U.S. Secretary of State Hillary Clinton and whether Clinton had raised an issue of "mutuality" between the two issues."The issues of the Muslim minority in Thrace and the Ecumenical Patriarchate are not linked and not related. There is no issue of mutuality when it comes to respecting and exercising policies for the protection of human rights. Such a form of mutuality is not conceivable in our age. And it is not conceivable because it is the duty of democratic states to respect all rights and implement such policies. Greece does this. Turkey falls short," Koumoutsakos said, adding that he was unaware that Clinton had actually expressed such positions. He underlined, also, that Greece adopted a policy of full equality before the law and state for all members of the Muslim minority, fully respecting the provisions of the Lausanne Treaty. "The Greek State for the past 20 years, at least, in addition to the obligations arising from the Lausanne Treaty, has taken a number of additional measures in favour of the minority, either through direct positive measures, such as quotas for their entry into tertiary education and recruitment into the public sector, or indirectly, through national programme jointly funded by the EU," he said, noting that Greece adopted such policies as a European, democratic country and not on the basis of some form of "mutuality" with Turkish policies for the Greek minority living there. [16] Cyprus under occupation, foreign ministry stressesThe Greek foreign ministry on Monday cited United Nations Security Council resolutions and the decisions of the European Council regarding the Cyprus problem and Turkey's obligations toward the EU, after recent controversial statements uttered by the newly appointed U.S. Assistant Secretary of State for European and Eurasian Affairs Philip Gordon in Washington and a call to accelerate accession talks with Turkey made by European Commission President Jose Manuel Barroso."There is an occupation on Cyprus and the international community recognises one government, the government of the Cyprus Republic," foreign ministry spokesman George Koumoutsakos underlined when asked to comment on Gordon's reference to the Turkish troops in northern Cyprus as a "Turkish presence" as opposed to an occupation force. In terms of Barroso's statements after meeting Turkish President Abdullah Gul, in which the Commission President called on member-states to hurry up opening the energy chapter of the negotiations with Turkey currently blocked by Cyprus, Koumoutsakos said that Turkey's obligations were specific. "It is a fact that the decisions of the European Council call for specific things in terms of the obligations that Turkey has toward all the member-states and, of course, the Cyprus Republic. I point out, therefore, the need to implement the Customs Union protocol without exception with all member-states and, of course, the normalisation of relations between Turkey, as a candidate state, with a member-state, the Cyprus Republic," the spokesman said. Koumoutsakos said that he did not have information on whether U.S. Secretary of State Hillary Clinton intended to have separate meetings with Cyprus Foreign Minister Markos Kyprianou and Turkish-Cypriot leader Mehmet Ali Talat. "A major effort is underway to solve the Cyprus issue and all moves must serve and not go against the purpose and goal of this process, in other words to find a solution. A solution can only be achieved on the basis of respecting specific principles, specific facts of international law and the decisions of the UN Security Council," he said. Turkey does not currently recognise the official government of Cyprus and refuses to open its ports and airports to Cyprus-flagged vessels and aircraft, while it is the only country in the world that recognises the Turkish Cypriot regime in the northern part of the island. Financial News Gov't unveils seven measures to boost Greek exports The Greek government on Monday unveiled a package of seven measures aimed at supporting export-oriented enterprises and boosting exports. Presenting the measures, during a meeting of the National Exports Council, Economy and Finance Minister Yiannis Papathanasiou said they included: -implementing a special program of supporting export businesses with 10 million euros for one year, covering promotion expenses and participation in international trade fairs. -raising a financial support for Hellenic Export Promotion Organisation for 2009 to 16 million euros, from 9.0 million euros in 2008. -promotion of Greek exports and services to specific events abroad, with a budget of 3.0 million euros, in cooperation with Culture and Tourism ministries. -monitoring the course of Greek exports through the operation of a special commission. -rearranging the strategy of Hellenic Export Promotion Organisation to focusing its activities in markets likely to suffer less from a global crisis (China, UAE) or big markets for Greek products (Germany, US, Romania, Bulgaria, UK and Russia). -supporting export-oriented sectors of teh economy, such as the fur industry and fish farming industry and, -closer cooperation between Hellenic Export Promotion Organisation and Invest in Greece agency. The Greek minister reiterated the government's decision to remain steadfast in its reforms program. Gov't boosts employment subsidies, benefits for tourism sector A series of measures in support of the crucial tourism sector were signed Monday by Employment and Social Protection Minister Fani Palli-Petralia. Specifically, the Manpower Employment Organisation (OAED) will provide subsidies totaling 50 million euros for roughly 50,000 seasonal hotel employees. Eligible hotel enterprises between April 30 and May 31, 2009 can proceed to hire the same number of personnel they were employing in the same period last year. The subsidies corresponding to each employee will equal the seasonal unemployment benefit received. The workers' social benefits organisation (OEE) will increase its social tourism programmes by 44.5 pct compared to 2008 (54-million-euro programme / 520,000 beneficiaries) considering that this year a total of 750,000 people will be eligible for a 78-million-euro programme. In addition, a 45-million-euro tourism sector vocational training programme will soon get underway by the National Strategic Reference Framework (NSRF) and benefit 3,500 unemployed. Participating enterprises will hire 30 pct of the trainees. [17] Council of EU transport, communications ministersBRUSSELS (ANA-MPA/M.Aroni)The Council of European Union transport and communications ministers convened here on Monday and examined the issue of the Eurovignette, organising working time in road transportation and the European General Programme on managing air transport. Greece was represented by Transport and Communications Minister Evripidis Stylianidis. On the question of the Eurovignette, the Council agreed in principle that the principle of "he who pollutes pays" must be implemented. Stylianidis called on his counterparts to jointly consider the repercussions of the major economic crisis and that there should be a big transitional period for consultations before the measure is applied. The minister noted that such a thing woud burden the means in question even more. The Greek side also maintained at the Council that when the preconditions for an agreement on the implementation of this measure are shaped, the money must be given for transportation. Meaning for the improvement, the extension of the network and of the infrastructures that facilitate transportation work and contribute to decreasing pollutants in the atmosphere. As regards organising working time for those carrying out road transportation activities, Greece claimed that the self-employed must not be included. Stylianidis will be meeting Transport Commissioner Antonio Tajani on Tuesday with whom he will be discussing, among other things, the issue of OSE (the Hellenic Railways Organisation) and the steps that must be taken to reconstruct the organisation as soon as possible. [18] Cosmote sells Cosmofon, Germanos TS in fYRoM to Telecom Slovenje for 190 mln eurosCosmote and Telekom Slovenje on Monday signed an agreement for the sale of Cosmofon Mobile Telecommunications AD Skopje and Germanos Telecom AD Skopje to the Slovenian telecoms operator for 190 million euros.The agreement was signed by Mihalis Chamaz, Deputy chief executive of Cosmote and Bojan Dremelj, Chairman of Telekom Slovenje. Commenting on the deal, Chamaz said: "We would like to express our satisfaction for the successful completion of the sale of Cosmofon and Germanos TS. We wish to congratulate Telekom Slovenje and to thank all those participated in the sale process. We wish Cosmofon and Germanos TS all the success in the future. I am certain that Telekom Slovenje will have a successful course in fYRoM's demanding market". On his part, Dremelj noted: "We are in the pleasant position to announce the signing of an agreement for the purchase of 100 pct of Cosmofon and Germanos TS. This acquisition adds to our existing activities in fYRoM and it is a continuation of our strategy to expand in southeastern Europe". Cosmofon began operations in June 2003 under Cosmote and has a market share of 30 pct in the one-time Yugoslav republic. NM Rothschild & Sons Ltd. and Eurobank EFG Telesis Finance acted as financial consultants of Cosmote group to the sale. [19] MIG reports robust '08 profitsMarfin Investment Group (MIG) on Monday reported robust profitability for 2008, with Group net profits from continuing operations at 183.8 million euros, up from 69.4 million euros in 2007, an increase of 165 percent.Group net profit after tax and minority interest rose to 112.6 million euros, from 330.1 million in 2007. MIG said that 2007 figures adjusted for exceptional income of 267.8 million euros arising from the sale of banking assets showed an increase of net profit at 80.7 percent. Earnings before interest, tax and depreciation (EBITDA) rose to 326.8 million euros, from 34.1 million in 2007. Shareholders' equity reached 4.5 billion euros and liquidity 1.5 billion euros, representing 19.8 percent of the Group's total assets. Despite adverse market conditions, net asset value per share stood at 5.45 euros as of 31 December 2008. These results were achieved in a significantly deteriorating macroeconomic environment especially in the last months of 2008. The company's board of directors decided to propose to the general assembly of MIG the distribution of a 0.20-euros per share constructive dividend. Shareholders will be offered the option of reinvesting the constructive dividend in the form of MIG shares. Commenting on the results, Andreas Vgenopoulos, MIG's executive vice-chairman stated: "2008 was a year marked by an unprecedented and mounting market downturn. The ripple-effects of the economic slowdown are already visible in the real economy. Our group has not been immune from the adverse market conditions. "However, through a focused strategy and a disciplined and defensive approach already in place since the end of 2007, we have created a well-diversified portfolio of leading investments in defensive sectors and have preserved liquidity, thus managing to insulate, to the extent possible, the Group from external shocks. Our key advantage is our sufficient cash levels that can be regarded not only as a 'safety net' for a potential further deterioration in market conditions, but also as a pool for capitalising on opportunities that might arise. The acquisition of the assets of Olympic constitutes such a value enhancing opportunity," he stated. [20] Hellenic Postbank reports 2.61 million euros profit in 2008Hellenic Postbank on Monday said its profits totaled 2.61 million euros last year despite a 25.64 pct increase in provisions, while revenues from repeated sources (interest income) grew 23.33 pct and net interest incomes rose by 9.31 pct in 2008, compared with 2007.Loans portfolion grew 16.62 pct to 7.126 billion euros, while the loans to deposits rate rose to 63.56 pct from 54.77 pct in 2007 and 45.34 pct in 2006. Consumer loans grew 11.65 pct to 1.887 billion euros, while mortgage loans grew 9.64 pct to 4.480 billion euros. Pre-tax earnings excluding financial results, provisions and amortizations grew 20.20 pct in 2008. Commenting on the results, Aggelos Philippides, chairman of Hellenic Postbank, said the bank emerged as one of the main funding sources of the Greek banking system despite adverse financial conditions. "Our aim is to establish Hellenic Postbank as a main support pylon of the Greek economy and the Greek citizen to the benefit of its shareholders and workers," Philippides said. [21] ATE Insurance reports higher production, losses in 2008ATE Insurance on Monday reported a 3.0 pct increase in premium production last year, but lower pre-tax profits because of the turmoil caused by an international financial crisis.The company said premium production totaled 187.3 million euros in 2008, from 181.9 million in the previous year, of which 63.7 million euros were life insurance and 123.6 million were damage insurance contracts. Pre-tax profits totaled 308,000 euros last year, from 16.4 million euros in 2007, while after tax results showed a loss of 6.6 million euros, after earnings of 14 million euros in 2007. Consolidated pre-tax earnings totaled 1.547 million euros in 2008, from 18.266 million euros in the previous year. ATE Insurance reported a consolidated after tax loss of 5.514 million euros last year from profits of 15.937 million euros in 20007. [22] New CEO at Hellenic ShipyardsThyssenKrupp Marine Systems AG announced that beginning on April 1, ThyssenKrupp Umformtechnik GmbH Board member Akio Ito will be the new president & CEO of Hellenic Shipyards S.A. at Skaramangas in Piraeus.Ito, 38, will replace Reinhard Kuhlmann, 63, who will take over as president of the TKMS Blohm + Voss Nordseewerke GmbH while remaining a member of the ThyssenKrupp Marine Systems AG executive board. [23] Alumil Mylonas reports lower 2008 resultsAlumil Mylonas, a Greek-listed aluminium industry, on Monday reported a 50.3-pct drop in last year's profits despite a 3.8 pct increase in gross earnings in 2008, saying it plans to pay a 0.089-euros per share dividend to shareholders.Consolidated turnover fell 0.9 pct to 285 million euros, gross profits rose 3.8 pct to 69.6 million euros, EBITDA fell 11.5 pct to 37 million euros and pre-tax profits dropped 49 pct to 8.7 million euros. Final profits fell 50.3 pct to 4.7 million euros and net borrowing rose to 174.8 million euros, from 154.4 million in 2007. Parent sales fell 14.3 pct to 204 million euros, EBITDA fell 27.5 pct and pre-tax profits dropped 67.7 pct. Net after and minorities earnings fell 24.5 pct to 3.8 million euros. [24] GEK Terna says turnover up, earnings down in 2008GEK Terna on Monday said consolidated sales totaled 669.2 million euros last year, from 428 million euros in 2007, an increase of 56 percent, reflecting increased building activity.Pre-tax, interest and amortization earnings (EBITDA) fell 2.8 pct to 82.7 million euros last year, reflecting lower profits in the real estate business (down 49 pct to 18.4 million euros). Operating earnings eased 11.5 pct to 59.8 million euros in 2008, while pre-tax profits dropped 16.5 pct to 54.6 million euros and net after minorities earnings dropped 38.1 pct to 22.2 million euros. GEK Terna said its cash reserves totaled 541 million euros and lending totaled 559 million euros last year, while equity capital was 689 million euros. The company plans to pay a 0.12 euros per share dividend to shareholders. [25] Greek industrial production index down 10.2% in Jan.Greece's industrial production index plunged 10.2 pct in January, compared with the same month last year, after a decline of 0.6 pct in January 2008, the National Statistical Service announced on Monday.The statistical service, in a report, said the 10.2-pct drop in the industrial production index reflected a 12.6-pct fall in manufacturing production, a 16.1-pct drop in mining production, a 4.0-pct fall in electricity production and a 1.0-pct rise in water production index. The energy production index fell 3.7 pct in January, the capital goods index dropped 17.9 pct and the durable goods index fell 11.7 pct. [26] Greek PPI down 5.8 pct in FebruaryGreece's producer's price composite index (measuring both the domestic and external markets) fell 5.8 pct in February, from the same month last year, after recording increases of 11.0 pct and 1.3 pct in the same months in 2008 and 2007, respectively, the National Statistical Service said on Monday.The producer's price index was down 0.6 pct in February from January 2009, after recording increases of 1.3 pct and 0.8 pct in the same periods in 2008 and 2007, respectively. [27] Tourist arrivals seen down 4.24% this year, reportTourist arrivals are expected to fall at least by 4.24 pct this year, the Institute for Tourism Research and Forecasts (ITEP) predicted on Monday.In a report, ITEP said tourist arrivals from traditional markets would fall faster, at least by 4.58 pct in 2009 and noted that this development would have a direct impact on employment. ITEP said a drop in arrivals between 5 pct, 10 pct and 15 pct would lead to job losses of 69,000, 96,000 and 144,000, respectively, during the year. The report said global tourism was expected to fall by 2.0 pct this year and noted that government measures aimed at protecting employment and supporting competitiveness in the tourism industry were needed, namely, reducing airport duties, lowering coastal shipping fares, reducing VAT factors and improved programmes for vocational training. [28] Greek stocks drop 2.52%Greek stocks lost substantial ground at the Athens Stock Exchange on Monday, in line with a negative trend prevailing in major international markets. The composite index fell 2.52 pct to end at 1,629.68 points, with turnover a low 93.2 million euros, of which 7.9 million euros were block trades.Most sectors moved lower, with the Raw Materials (5.88 pct), Banks (5.66 pct), Chemicals (4.16 pct), Financial Services (4.00 pct) and Media (3.66 pct) suffering the heaviest percentage losses of the day, while Constructions (1.44 pct), Oil (1.25 pct) and Food/Beverage (0.92 pct) scored gains. The FTSE 20 index dropped 3.05 pct, the FTSE 40 index ended 3.36 pct lower and the FTSE 80 index eased 1.45 pct. Broadly, decliners led advancers by 166 to 39 with another 47 issues unchanged. Sector indices ended as follows: Insurance: -1.87% Industrials: -3.09% Commercial: -2.64% Construction: +1.44% Media: -3.66% Oil & Gas: +1.25% Personal & Household: -1.53% Raw Materials: -5.88% Travel & Leisure: -0.59% Technology: -3.18% Telecoms: -1.88% Banks: -5.66% Food & Beverages: +0.92% Health: -2.44% Utilities: -2.44% Chemicals: -4.16% Financial Services: -4.00% The stocks with the highest turnover were National Bank, OPAP, Public Power Corp (PPC) and Multirama. Selected shares from the FTSE/ASE-20 index closed in euros as follows: Alpha Bank: 4.67 ATEbank: 1.06 Public Power Corp (PPC): 13.19 HBC Coca Cola: 10.38 Hellenic Petroleum: 7.00 National Bank of Greece: 10.60 EFG Eurobank Ergasias: 4.03 Intralot: 3.60 OPAP: 20.00 OTE: 10.99 Bank of Piraeus: 4.75 Titan Cement Company: 15.88 [29] ADEX closing reportGreek futures contract prices maintained their discounts in the Athens Derivatives Exchange on Monday, with turnover a low 31.768 million euros. The June contract on the FTSE 20 index was trading at a discount of 2.79 pct, in volume of 5,547 contracts worth 21.914 million euros, with 25,202 open positions in the market.Volume in futures contracts on equities totaled 14,521 contracts worth 9.854 million euros, with investment interest focusing on National Bank's contracts (3,125), followed by OTE (989), PPC (921), Piraeus Bank (2,114), Alpha Bank (2,613), Marfin Popular Bank (1,302), Cyprus Bank (1,089). [30] Greek bond market closing reportTurnover in the Greek electronic secondary bond market totaled 830 million euros on Monday, of which 385 million were buy orders and the remaining 445 million euros were sell orders. The 10-year benchmark bond (July 20, 2019) was the most heavily traded security with a turnover of 180 million euros. The yield spread between the 10-year Greek and German bonds was 271 basis points with the Greek bond yielding 5.74 pct and the German Bund 3.04 pct.In interbank markets, interest rates fell further. The 12-month Euribor rate was 1.82 pct, the six-month rate 1.68 pct, the three-month rate 1.52 pct and the one-month rate 1.13 pct. [31] Foreign Exchange rates - TuesdayReference buying rates per euro released by the European Central Bank:U.S. dollar 1.329 Pound sterling 0.936 Danish kroner 7.508 Swedish kroner 11.053 Japanese yen 128.95 Swiss franc 1.528 Norwegian kroner 9.022 Canadian dollar 1.666 Australian dollar 1.954 General News [32] Dust cloud from AfricaSoutherly winds, coupled by unseasonably high temperatures of up to 20 C and dust arriving from Africa created a stifling atmosphere throughout Greece on Monday, giving the impression of imminent rainfall.According to the National Meteorological Service (EMY), the phenomenon would continue through Wednesday, while sporadic rain with mud was also expected throughout the country on Monday and Tuesday. Winds will turn northwesterly at noon on Wednesday, turning the temperature cooler and clearing up the atmosphere. Specialists urged patience, as the phenomenon of dust from the African continent was not unusual in Greece. Dust from Africa is "a usual phenomenon under ideal weather conditions, researcher Vassiliki Kotroni from the Athens Observatory's Environmental Research Foundation told ANA-MPA. But when the weather is rainy, even rain with mud can occur, she said. Kotroni explained that the rise in temperature to unaccustomed levels for the season in recent days, the constant northerly winds and humidity have entrapped the dust particles from Northern Africa in the humid air, creating a stifling and hazy atmosphere that gives the impression of impending rain. As for the phenomenon's affect on the human organism, pneumonology professor Panayiotis Bechrakis reassured that in no way was it harmful to the human being. "It is a natural phenomenon that has been tested and has been found to be harmless. There may be some risk for people suffering from chronic long diseases, but only in the event of fatigue," he explained. [33] Papoulias first 2011 Special Olympics volunteerPresident of the Republic Karolos Papoulias on Monday signed the very first application to become a volunteer for the Athens Special Olympics, during a ceremony held to present the 2011 Special Olympics Summer Games volunteer programme at Athens' Badminton Theatre.The ceremony was attended by the premier's wife Natasha Karamanlis, while Prime Minister Costas Karamanlis himself was represented by Interior Minister Prokopis Pavlopoulos. Others present included Deputy Sports Minister Yiannis Ioannidis, Culture Minister Antonis Samaras, local government officials, politicians and people of the arts and letters. "Volunteerism concerns the social contribution of the public, while the institution of the Special Olympics is a demand for the right to life on behalf of our fellow citizens with special needs but also special abilities," Samaras said in statements to reporters. "In the Olympic Games, the best win, while in the Special Olympics we all win," he added, noting that volunteerism should always remain a "supreme virtue" for Greek citizens. According to Parliament Vice-President Tassos Nerantzis, who represented Parliament President Dimitris Sioufas, the solidarity shown to those people that fate had destined to be different was "proof of our social communion". During the ceremony, artists, Olympic medallists and Paralympic medallists were awarded by the three ministers present and Mrs Karamanlis for their contribution to the volunteer programme and a speech was delivered by Special Olympics International Chief Operating Officer Brady Lum. The volunteer programme was presented by the head of the 2011 Special Olympics World Summer Games Organising Committee, Joanna Despotopoulou and coordinated by TV journalist and Special Olympics Goodwill Ambassador Elli Stai. [34] Parliament president receives Heart Transplant SocietyParliament President Dimitris Sioufas received the board of the Heart Transplant and Friends of Transplants Society "Synechizo" on Monday, assuring it of Parliament's support for the promotion of body organ donations and the highlighting of the importance of transplants in the country.The delegation gave Sioufas a memorandum concerning the functioning of the Heart-Lung Transplants Programme which is being implemented by the Onassio Cardiosurgical Centre and he promised to forward it to Health Minister Dimitris Avramopoulos. Sioufas underlined Parliament's special interest in these issues and reminded that an entire Plenum session was devoted on March 10. He also referred to the considerable work being carried out by the Onassio Cardiosurgical Centre, that is one of the best Centres in the world. [35] City of Athens delegation in AlexandriaAthens Mayor Nikitas Kaklamanis heads up a municipal delegation that will undertake an official visit to Alexandria, Egypt this week, at the invitation of the city's governor, Gen. Adel Labib.As part of the visit, the city of Athens delegation will be received by Patriarch Theodoros II of Alexandria and All Africa on Tuesday. On Thursday, the delegation members will meet with representatives of Alexandria's ethnic Greek community. International conference on computational linguistics and linguistic technology The 12th Conference of the European Chapter of the Association for Computational Linguistics (EACL-09) opened in Athens on Monday. The conference, which will end on Friday, covers a broad spectrum of disciplines working towards enabling intelligent systems to interact with humans using natural language, and towards enhancing human-human communication through services such as speech recognition, automatic translation, information retrieval, text summarization, and information extraction. The conference is coordinated by the National Centre for Scientific Research (NCSR) "Demokritos" - Institute of Informatics & Telecommunications, with the support of the Athens University of Economics and Business - Department of Informatics and the ATHINA Institute for Language and Speech Processing. [36] Benigni reads 'Divine Comedy' in AthensItalian comic actor and director Roberto Benigni will be performing excerpts of Dante's "Divine Comedy" adapted for the stage at the Athens Concert Hall on May 5-6.Benini - who won an Oscar for his role in the film 'La vita e bella' - is currently on a world tour of his one-man Tutto Dante show, featuring the "Inferno e Paradiso" sections of the epic poem that is considered one of the masterpieces of world literature. Especially for audiences in Athens, he has chosen to perform the poem's 5th canto that deals with the meaning of love. [37] Banks, ND office vandalized in VyronasFour banks and a ruling New Democracy (ND) local office in the Athens district of Vyronas were targeted by vandals in the early hours of Monday.Á group of about 25 hooded individuals carried out a serious of vandalisms in Vyronas, at 1:25 a.m., breaking the glass fronts of branches of Proton Bank, ATEbank, Eurobank and Cyprus Bank, as well as an ND local office, after which the fled in an unknown direction. [38] Fire-bomb at pleasure boat showcase causes extensive damageArsonists targeted a pleasure boat showcase in the southern Athens suburb of Argyroupolis early Monday, causing extensive damage.A home-made fire-bomb exploded at 3:25 a.m. at the KAPA Marines showcase, and the ensuing fire quickly spread throughout the two land plots where the company's pleasure craft are on display, totally destroying or causing extensive damage to more than 20 boats. A strong team of 60 firefighters with 18 fire engines rushed to the site, and managed to put the blaze under control three hours later. Fire engines remained on the scene, as the fire continued to rekindle on several occasions. Police bomb disposal experts are investigating the site, and have so far come up with two propane canisters. Police said that a night watchman was on duty at the showcase, but he had not seen anything suspicious before the fire broke out. [39] Spate of firebombings in ThessalonikiA spate of firebombings involving gas cannisters and causing only material damage occurred in Thessaloniki, Macedonia, over a period of one hour on Monday.The attacks were carried out on the offices of Deputy Interior Minister Costas Gioulekas, of main opposition PASOK party Deputy Stathis Koutmeridis, New Democracy party Deputy George Orfanos and former ND deputy Dimitris Galamatis, as well as of former minister and Democratic Rennaissance party leader Stelios Papathemelis, who was on the premises together with associates of his at the time. The arsonists also placed another incendiary device composed of gas cannisters at the offices of Deputy Culture Minister for Sport Yiannis Ioannidis, that failed to explode. Weather Forecast [40] Cloudy on TuesdayCloudy weather, and northeasterly winds are forecast in most parts of the country on Tuesday, with wind velocity reaching 3-6 beaufort. Temperatures will range between 6C and 24C. Cloudy in Athens, with northeasterly 3-5 beaufort winds and temperatures ranging from 10C to 21C. Same in Thessaloniki, with temperatures ranging from 8C to 19C.[41] The Monday edition of Athens' dailies at a glancePrime Minister Costas Karamanlis' message from Zakynthos denying speculation that "he is fatigued", the political climate and the upcoming G-20 Summit in London dominated the headlines on Monday in Athens' newspapers.ADESMEFTOS TYPOS: «Speculation, opinion polls and strife over Karamanlis' successors are drowning the country". APOGEVMATINI: "Karamanlis attacks those who practice petty politics in the country's political life". AVRIANI: "Karamanlis' crucial dilemma to unite New Democracy's voters and win the centre vote". CHORA: "Suicidal ideation syndrome- ND's image is absurd for a political party". ELEFTHEROS: "PM upset his successors with the 'half-denial' ". ELEFTHEROS TYPOS: "Giants clash over measures against the crisis - US President Barack Obama vs German Chancellor Angela Merkel on Tuesday at G-20 summit in London". ELEFTHEROTYPIA: "He stays until he leaves - Karamanlis did not reject the scenarios speaking about his retirement (from the ND helm) if he loses the elections". ESTIA: "The generation of irresponsibility governs - What today's 50-year-olds will hand down" to the coming generations. ETHNOS: "Shop owners in despair after the new tax storm". TA NEA: "Karamanlis opened front against FM Dora Bakoyannis and Environment and Town Planning Minister George Souflias, who are said to be among the hopefuls for his succession to the party leadership". VRADYNI: "New opportunities in real estate market". 36, TSOCHA ST. 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