Athens News Agency: News in English, 00-11-13

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

CONTENTS

[01] Greece-Economy minister-Yugoslavia

[02] Health Ministry-Olympics 2004

[03] Derivatives Market-Close

[04] FOREIGN EXCHANGE - TUESDAY

[05] Weather Forecast-Tuesday

[06] Cosmote-nine month results

[07] Bank of Greece-interest rates

[08] ASE-close

[09] F-16 crash - pilot dead (recasts)

[01] Greece-Economy minister-Yugoslavia

BELGRADE (ANA - M. Mouratidis) - Greek National Economy Minister Yiannos Papantoniou on Monday concluded his talks here with Yugoslav President Vojislav Kostunica and Deputy Prime Minister for Overseas Economic Relations Miroljub Labus.

Papantoniou, who heads a delegation of ministers, Parliament deputies and businessmen, began a Balkan tour that also includes Bulgaria and the Former Yugoslav Republic of Macedonia (FYROM, on Sunday afternoon.

He called the talks with the Yugoslav leadership, very positive and substantive, stressing Greeces wish to support Yugoslavias economy and to aid the Balkan country in overcoming the difficulties it's being faced with, so that it may re-enter the international community and international economic organisations.

[02] Health Ministry-Olympics 2004

The Health Ministry announced on Monday that its health programme in view of the Athens 2004 Olympic Games will be finalised by November 30 and will be budgeted at 80 billion drahmas.

During the Games, there will be about 17,000 athletes with their aides, about 21,000 journalists and at least five million tourists.

The special team set up by the ministry will include 4,000 volunteer doctors and nurses as well as ordinary citizens.

The programme also includes the purchase of 100 new ambulances and motorbikes for doctors.

[03] Derivatives Market-Close

Equity futures traded on the Athens Derivatives Exchange finished lower on Monday, in line with the bourse indices on which they are based.

The FTSE/ASE 20 index closed 1.41 percent lower, and the FTSE/ASE 40 ended 2.82 percent lower.

Turnover was 13.9 billion drachmas.

A total of 2,732 contracts were traded on the FTSE/ASE 20 with turnover at 11.2 billion drachmas.

On the FTSE/ASE 40 index, 1,592 contracts changed hands on turnover of 2.7 billion drachmas.

[04] FOREIGN EXCHANGE - TUESDAY

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

Tuesday's rates (buying)

Euro 337.439

U.S. dollar 391.979

German mark 172.530

French franc 051.442

Pound sterling 560.242

Irish punt 428.459

Belgian franc 008.365

Luxembourg franc 008.365

Dutch guilder 153.123

Italian lira (100) 017.427

Austrian schilling 024.522

Danish kroner 045.253

Swedish kroner 039.144

Finnish mark 056.753

Spanish peseta 002.028

Portuguese escudo 001.683

Japanese yen (100) 363.776

Swiss franc 221.707

Norwegian kroner 042.229

Cyprus pound 588.593

Canadian dollar 253.456

Australian dollar 203.628

[05] Weather Forecast-Tuesday

Sunny weather is forecast throughout the country for Tuesday, with fog likely in the northwest. Winds variable, light to moderate. Temperatures in the north will range from 5C to 23C; in the west from 8C to 24C and in the rest of the country from 13C to 22C. Sunny in Athens with temperatures between 12C and 24C. Same in Thessaloniki with temperatures from 7C to 22C

[06] Cosmote-nine month results

Cosmote, a listed mobile telephone operator, on Monday announced a spectacular 156 percent jump in its nine-month pre-tax, interest rates and provisions profits to 39.1 billion drachmas, up from 15.285 billion the same period last year.

Net profits, after taxes, jumped 471 percent to 11.1 billion drachmas, from 1.9 billion in 1999. Cosmote's EBITDA rose 27.1 percent in the January-September period.

Turnover totalled 144.5 billion drachmas from 77.355 billion last year, an increase of 86.8 percent, reflecting a rise in monthly fixed subscription income.

Cosmote's customer bas more than doubled in the first nine months of 2000 compared with the same period last year to 1,762,076, with the company maintaining its lead on contract-based customers with a market share of 45 percent in the country.

Last August, Cosmote acquired a 85 percent equity stake in Albanian mobile operator AMC, through its subsidiary CHA. The Albanian company had a customer base of 19,000 by at the end of September, up from 15,000 by the end of June.

Cosmote's chief executive, Evangelos Martigopoulos, said the company's nine-month results confirmed that the company was entering a maturing stage.

[07] Bank of Greece-interest rates

The Bank of Greece's monetary policy council meets on Tuesday to discuss a new cut in its intervention interest rates in the wake of news last week of a surge in the inflation rate to 4.0 percent in October and a central bank's forecast that inflation would remain at high levels until February.

Bank of Greece sources said that a decision to cut interest rates could be taken either this week or the next, and that monetary policy could be further relaxed in December.

[08] ASE-close

Equity prices ended the first trading session of the week sharply lower on the Athens Stock Exchange, hit by lack of buying interest and a shrinking liquidity.

Traders said investors' attention was now focusing to Bank of Greece's moves on monetary policy, with analysts doubting that a significant cut in interest rates this week could dramatically change the climate in the market.

Shares in the construction and mobile telephony sectors came under strong pressure to end sharply lower.

The general index ended 1.63 percent lower at 3,560.06 points, off the day's lows of 3,541.11 points. Turnover was a low 44.2 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 1.41 percent lower at 2,054.83 points, and the FTSE/ASE 40 index dropped 2.82 percent to 421.86 points.

The parallel market index for smaller capitalisation stocks ended at 374.90 points, off 4.81 percent.

[09] F-16 crash - pilot dead (recasts)

A Greek air force F-16 jetfighter crashed into the sea off Nea Aghialos, central Greece, on Monday morning, killing the pilot. The aviator was identified as 1st-Lt. Constantinos Kakkavas.

The crash occurred at roughly 11:45, immediately after a mock strafing run at a nearby firing range.

An experts' committee is currently investigating the causes of the accident, while it was reported that the pilot had 550 hours of flight time.

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