Athens News Agency: News in English, 00-09-07

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

CONTENTS

[01] Papandreou-Milosevic-Meeting

[02] Superfast Ferries-Scotland

[03] UN-Simitis-Clinton-Annan-meetings

[04] US-Clinton-Simitis

[05] UN-Greek premier-speech

[06] Weather Forecast-Friday

[07] Foreign Exchange Rates-Friday

[08] Greece-inflation-August

[09] Greece-Deutsche Bank

[10] Hellenic Bottling-merger-presentation

[11] Greek-Yugoslav foreign ministers - statements

[12] Despec Hellas-Internet

[13] Greece-EU-economic meeting

[14] ASE-close

[01] Papandreou-Milosevic-Meeting

BELGRADE (ANA I. Afentouli/M. Mouratidis) Greek Foreign Minister George Papandreou met on Thursday with Yugoslav President Slobodan Milosevic, members of the countrys opposition and with youth organisation representatives.

Speaking in a press conference later in the day, Papandreou said that his visit to Belgrade aimed at sending the message to the Yugoslav government that the basic precondition for any opening on the part of the European Union toward Yugoslavia, would be based on weather the Sept. 24 presidential elections in that country would be conducted smoothly and in accordance to democratic rules.

Discussing the reactions of the Yugoslav side, Papandreou said that he tried to make clear to the people he met with that Europe wishes to change its position on the Yugoslavian issue, on condition that the elections will be a step toward Serbias democratisation.

According to diplomatic sources, in his 75-minute meeting with Milosevic, Papandreou focused on the issue of free and democratic elections in the Balkan country and Milosevic responded that he does not accept suggestions on the way elections should be conducted, as it is a sovereign and independent state.

Despite this reaction, the same sources said that Milosevic reassured Papandreou that the rules of democracy would be observed and that he himself would accept the outcome of the elections.

[02] Superfast Ferries-Scotland

Superfast Ferries announced on Thursday that it had won a Scottish state tender to ply routes tonorthern ports on continental Europe from 2002.

Superfast, which is due to start plying the Baltic in February, has four fast ferries currently operating Adriatic services.

The company's fleet is to acquire another two ships in the next two months.

Forty two companies took part in the international tender.

"Scotland's econonmy will reap many benefits from a direct connection with its European Union partners using our brand new luxury vessels," said Alexander Panagopoulos, Superfast's managing director.

[03] UN-Simitis-Clinton-Annan-meetings

NEW YORK (ANA) Greek Prime Minister Costas Simitis late on Wednesday evening met with US President Bill Clinton and discussed the Cyprus problem and Greek-Turkish relations.

The 20-minute meeting took place at the sidelines of the dinner hosted by US President Bill Clinton for the 13 world leaders of the ?Network for a progressive governance in the 21st century?.

Clinton was expected to meet with Turkish President Ahmed Cezer on Thursday.

Simitis also met with UN Secretary General Kofi Annan and discussed the Cyprus issue and conditions in the Balkans.

According to reports, Simitis stressed the need for the new round of talks to deal with the substance of the Cyprus problem.

[04] US-Clinton-Simitis

NEW YORK (ANA M. Georgiadou) - Greek Prime Minister Costas Simitis late on Monday evening participated in A dinner hosted by US President Bill Clinton for the 13 world leaders of the ?Network for a progressive governance in the 21st century?.

Addressing the participants, Simitis spoke of the new international political, economic and social environment, stressing the need for reexamination of the opinions and ideas of progressive thought.

He underlined that new developments force the readjustment of those opinions and ideas, adding that such a readjustment should take into account the ?architecture of the new world?, globalisation, new technological breakthroughs and the dynamically developing sector of the new economy.

[05] UN-Greek premier-speech

NEW YORK (ANA M. Georgiadou) The task of humanitys leadership for the future should be to find new ways in controlling and eradicating everyday problems of people around the world, Greek Prime Minster Costas Simitis said addressing the United Nations Millenium Summit.

?Our task must be to find new avenues through which we will control and gradually eradicate the causes of the plights that tantalize our common lives. This task requires cooperation at all levels, but mainly at the global level; because it would be otherwise difficult, if not impossible to have positive results in our world of close interdependence,? Simitis said.

?We Strongly believe that the United Nations has a serious role to play in this respect,? he said, adding ?its experience in past achievements in these fields, its nature, as the only political international organisation with universal participation, which is coupled with its specialised organs and agencies, are solid material upon which we may rely in our fight against the problems of our world.?

[06] Weather Forecast-Friday

Scattered cloud is forecast throughout the country on Friday, turning overcast in the west, centre and south. Winds variable, light to strong.

[07] Foreign Exchange Rates-Friday

Indicative rates released by the central bank for the next working day.

Fridays rates (buying)

Euro 335.455

U.S. dollar 386.205

German mark 171.515

[08] Greece-inflation-August

Greece's inflation rose to 3.0 percent in August, on a year-on-year basis, up from 2.7 percent in July, National Statistics Service said on Thursday.

NSS attributed the rise to higher fuel and fruit and vegetables prices.

A report said that a fall in the drachma's exchange rate against the US dollar, due to a weak euro, and a steady rise in world oil prices because of OPEC's reluctance to raise its production, "were two imported problems with inflationary pressures on the Greek economy."

[09] Greece-Deutsche Bank

Greece's EMU entry is definitely a success story," Rolf-E. Breuer, Deutsche Bank's chairman said during a two-day visit in Athens on Thursday.

Speaking to reporters, Breuers said that "in meeting the conditions for EMU membership, Greece's government and economy have proved all the sceptics wrong."

Deutsche Bank's chairman said financial markets' perception of Greece was positive. "There is a high degree of confidence in the credibility of Greek economic policy as Greece drachma and convergence of long-term interest rates show," he said.

"Greece has to move fast to be ready for the introduction of euro notes and coins in 2992. Its enterprises and public sector must take preparations under big time pressure. The challenge is tougher than for the other eleven EMU members which have had nearly four years to prepare," he said.

Breuer called the current euro rate "undervalued" but said that exchange rates needed patience.

He said that Greece would benefit, on balance, more than other EU members from any eastern enlargement. He also predicted that progress in privatisation and reform plans by the Greek government would make the Greek stock market more attractive to foreign institutional investors and would lead to the upgrading of the Greek bourse in the top league of international markets.

Deutsche Bank is the first large European bank to cooperate with a Greek bank, through a cooperation with EFG Eurobank Ergasias in which it holds a 10 percent equity stake.

Breuer said that this strategic partnership has been fostered since and has already produced tangible results.

He announced a joint venture between the two banks in real estate management and cooperations in project finance.

Breuer said that Deutsche Bank did not plan to raise its equity stake in EFG Eurobank Ergasias for now, but he did not excluded such a possibility in the future.

[10] Hellenic Bottling-merger-presentation

Hellenic Bottling, a listed refreshments company with activities in 11 countries, on Thursday officially announced the completion of its merger with Coca-Cola Beverages Plce, a company listed in the stock markets of London and Sydney with activities in 13 countries in central and eastern Europe.

The announcement was made jointly by Hellenic Bottling's chairman, Giorgos David, and CCB's chairman Neville Isdell.

The merged company's activitivies will cover an area with population more than 400 million. It expects to benefit from synergies and scale economy to maximise its growth potential.

The new company, named Coca-Cola Hellenic Bottling will be listed mainly on the Athens Stock Exchange with secondary listing in London and Sydney.

Greece's Development Minister Nikos Christodoulakis, addressing the event, said that a new economic environment in the country, following Greece's EMU entry, would lead companies to cooperation and merger deals with foreign companies.

He said that the Hellenic Bottling-Coca Cola Beverages Plc deal was an expample.

"Greek companies will seek to become strong international enterprises and soon Greece will emerge as a strong business pole with not only incoming but outgoing investments," he said.

[11] Greek-Yugoslav foreign ministers - statements

BELGRADE (ANA - I. Afendouli) Foreign Minister George Papandreou is to have successive meetings with Fed. Yugoslavia's political leaders on Thursday, the second day of his three-day tour of Balkan countries.

He began with a visit to his Yugoslav counterpart Zivadin Jovanovic, while a meeting with Yugoslav President Slobodan Milosevic is to take place shortly afterward.

The aim of the Greek foreign minister's visit to Belgrade, which was discussed at an informal meeting of European Union foreign ministers' in Evian, France, is to ensure that combined presidential, parliamentary and municipal elections in Yugoslavia on September 24 are fair and free. Papandreou has been charged with conveying the EU's positions and asking the Yugoslav government to accept the presence of independent observers.

In statements made after the meeting, however, Jovanovic made it clear that no foreign intervention would be accepted during the elections, which he described as "an internal matter" of Yugoslavia.

[12] Despec Hellas-Internet

Despec Hellas on Thursday launched its website in a move aimed to expand activities in the electronic commerce.

In the company's website address, www.Despechellas.gr, internet users can find all information regarding Despec's activities.

Despec Hellas expects its internet investment to boost its competitiveness by offering new customer services to the market.

[13] Greece-EU-economic meeting

Greece's National Economy and Finance Minister Yiannos Papantoniou will participate in an informal EU national economy and finance ministers' meeting in Paris on Friday.

The ECOFIN council's agenda includes discussion over a likely impact of rising world oil prices on the European economy and developments in the foreign exchange market.

[14] ASE-close

Equity prices soared to six-weeks highs on the Athens Stock Exchange on Thursday with the general index surpassing the 4,000 level for the first time since July 24.

Traders said the market continued to easily absorbing waves of profit-taking with buying interest remaining strong for blue chip stocks.

The general index ended 3.17 percent up to 4,060.20 points, off the day's highs of 4,071 and the day's lows of 3,886.42 points.

Turnover was a heavy 184.84 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,303.03 points, up 2.95 percent, and the FTSE/ASE 40 index soared 2.69 percent to 551.44 points.

The parallel market index for smaller capitalisation stocks ended at 687.98 points, up 5.08 percent.

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