Athens News Agency: News in English, 00-11-10

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

CONTENTS

[01] Thessaloniki-Film Festival-Simitis

[02] Soccer-Panathinaikos-Champions League-Draw

[03] Greece-Balkan reconstruction

[04] Greece-harmonised inflation

[05] Crete Plastics-results

[06] Greece-money supply figures

[07] Greece-bankruptcy figures

[08] ASE-close

[01] Thessaloniki-Film Festival-Simitis

The opening ceremony of the 41st Thessaloniki Film Festival was held on Friday evening with Prime Minister Costas Simitis and Culture Minister Theodoros Pangalos attending.

Simitis, the first premier to ever address the festival, said ?the Greece we are building is a Greece of search, creation and wide horizons,? welcoming the wide variety of films to be screened.

He added that the festival ?which Thessaloniki so generously hosted proves that the filmmaking community in our country is not only able to produce, not only able to honour its worthy representatives, but to also participate in the search and confirmation of new codes and types of expression?.

He noted that filmmaking is the art ?that always inspires us, entertains, the one that continues to invigorate our imagination. Cinematography provides imagination to everyday life ? the festival is a grand celebration and a chance for meetings and discussions?.

National Defence Minister Akis Tsohatzopoulos, Press and Media Minister Dimitris Reppas, the mayor of Thessaloniki and deputies were present at the event that was held at the Olympion Cinema, and was followed by the screening of the French film "Vengo".

A total of 167 films will be screened in the international and domestic competitions, themes, the "New Horizons" section and special screenings.

The film festival ends on November 19.

[02] Soccer-Panathinaikos-Champions League-Draw

Panathinaikos Athens was drawn on Friday to play against Manchester United of England, Valencia of Spain and Sturm Graz of Austria in the second round of the European soccer Champions League.

Panathinaikos will start its games with Manchester United at Old Trafford on November 22 and then host Valencia in Athens on December 6. On February 14 it will play with Sturm Graz away and then play with the Austrians in Athens on February 20. Om March 7, Panathinaikos will play with Manchester United in Athens and end its games by playing against Valencia in Spain on March 13.

Meanwhile, the three Greek teams continuing in the UEFA soccer cup were drawn to play against tough rivals in the third round of the competition.

Olympiakos Piraeus was drawn to play against Liverpool of England. The first game is scheduled to take place at home on November 23 and the replay at Anfield stadium in Liverpool on December 7. AEK Athens is scheduled to play against Germany's Leverkusen at home on November 23 and away on December 7. PAOK Thessaloniki was drawn against Eindhoven of the Netherlands with the first match being played away and the second at Toumba stadium in Thessaloniki.

[03] Greece-Balkan reconstruction

A Greek delegation, headed by National Economy and Finance Minister Yiannos Papantoniou, will visit the capitals of Yugoslavia, Bulgaria and FYROM, November 12-14, in a drive to promote a Greek plan for the reconstruction of the Balkans.

Papantoniou will meet with the prime ministers and officials from the three Balkan countries.

The delegation will include Macedonia-Thrace Minister George Pashalidis, deputies and 43 Greek businessmen with economic interests in the region.

[04] Greece-harmonised inflation

Greece's harmonised average inflation rose to 2.6 per in October from 2.4 percent the previous month, reflecting higher fuel costs, National Statistics Services said on Friday.

Harmonised inflation jumped to 3.8 percent, year-on-year, in October from 3.0 percent in September, the NSS said.

[05] Crete Plastics-results

Crete Plastics on Friday reported a 22 percent rise in its nine-month turnvoer to 12.2 billion drachmas, up from 10 percent the same period last year.

Net profits rose to 1.8 billion drachmas, from 1.7 bln last year, while sales increased by 26 percent to 14.2 billion drachmas in October, up from 11.2 billion the same month last year.

Exports totalled 5.9 billion drachmas in the first 10 months of the year, from 4.0 billion last year, an increase of 48 percent.

Crete Plastics expects its turnover to exceed early predictions of 16.5 billion drachmas.

[06] Greece-money supply figures

Money supply growth accelerated in September to a year-on-year figure of 12.0 percent, up from 9.7 percent the previous month, sharply exceeding an annual target growth of 5-7 percent and ringing alarm bells at the Bank of Greece over inflation pressures in the country.

A monthly report by the central bank showed that housing loans' growth topped 30.3 percent in August, up from 26.9 percent in December 1999, while consumer loans' growth slowed to 26.8 percent from 31 percent, over the same period.

The report attributed the jump in the M4N money supply figures to an increase in repos, higher foreign exchange deposits, and to an accelerated credit expansion in the private sector.

Total credit expansion in Greece accelerated to 16.5 percent in August, year-on-year, from 15 percent the previous month, reflecting higher credits towards both the public and private sectors (24.1 percent in August, 22.0 percent in July).

The central bank said, however the credit figures were largely affected by foreign exchange changes due to an appreciation of the Japanese yen and the US dollar. Excluding this factor, total credit expansion growth was 15.1 percent in August.

[07] Greece-bankruptcy figures

The number of Greek businesses declared bankrupt fell by 59.38 percent in October compared with the same month last year, official figures showed on Friday.

A monthly report by Teresias SA, a company owned by 21 Greek commercial banks, said that bankruptcy applications and payment orders also fell by 63.44 and 34.88 percent, respectively the previous month.

The volume of unpaid bills and bounced checks totalled 11,757 in October, down 54.29 percent from the same month last year, with a total value of 14.927 billion drachmas, off 36.45 percent.

Unpaid bills and bounced checkes totalled 290.593 in volume and 239.644 billion drachmas in the first 10 months of 2000, down 18.19 percent and 15.47 percent from the corresponding period of 1999.

[08] ASE-close

Equity prices ended lower the last trading session of a subdued week on the Athens Stock Exchange with investors remaining sidelined pushing turnover to its lowest levels since March 1998.

Shares in the construction sector came under heavy pressure on talk of a delay by the government to approve legislation on the consolidation of the sector.

The general index ended 0.50 percent lower at 3,618.91 points, with turnover a low 31.59 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 0.27 percent lower at 2,084.22 points, and the FTSE/ASE 40 index dropped 1.02 percent to 434.11 points.

The parallel market index for smaller capitalisation stocks ended 0.90 percent lower at 393.84 points.

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