Athens News Agency: News in English, 01-05-18

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

CONTENTS

[01] Athens 2004-Overlay projects-Open to tender

[02] France-Greece-Rhodes-Warship arrival-Turkey

[03] Commercial Bank of Greece-Results-First Quarter

[04] ASE-close

[01] Athens 2004-Overlay projects-Open to tender

The Athens 2004 Olympic Games Organising Committee (ATHOC) announced on Friday that it has set in motion the procedures for the Olympic Games overlay projects, eight months earlier than Sydney had done.

These projects include the general architectural plans for the improvement of existing and under construction infrastructures and their interconnection in both aesthetic and practical terms.

The studies called for will cost an estimated seven million euros and the call for tenders by architects has already been published in the relevant European Union gazette.

Greek architects as well as foreigners can participate in the tender with the only prerequisite being that they have signed the World Trade Organisation's public projects agreement.

[02] France-Greece-Rhodes-Warship arrival-Turkey

France was the second country this month to ignore Turkey's reaction over visits by warships to the island of Rhodes in southeastern Aegean, as a French frigate is expected to arrive at the island's port on June 6.

The United States was the first country to ignore Turkish pressures last week, when the aircraft carrier "Harry Truman" reached the internationally known Greek holiday island, which came in Greece's possession from Italy after World War II.

Turkey has argued lately that the island should be demilitarized, a view, however, that is not supported by international treaties, or agreements, as Turkey did not take any part in the transfer of the islands to Greek sovereignty.

French Ambassador to Athens Jean Maurice Ripert, who arrived on the island to prepare the frigate's arrival, said that "when France sends its warships to Greece, it consults only with its (Greece's) government and no one else".

"No other third country can enter this position and have opinions on the issue," he added.

During his visit to the island Ripert visited the military commander of Rhodes Lt. General D. Constantopoulos and discussed with him details of the frigate's visit.

Last week, US Ambassador to Athens Nicholas Burns also visited the island and, responding to questions over Turkish reactions over the arrival of the American vessel, said "as you see we are in Rhodes today".

[03] Commercial Bank of Greece-Results-First Quarter

Commercial Bank of Greece, which is listed on the Athens bourse, on Friday announced that its first-quarter pre-tax profits rose to 21.9 billion drachmas, up 20.7 percent from the same period a year ago on an annualised basis.

The state-owned Commercial Bank of Greece Group's consolidated pre-tax earnings after minorities increased to 24.3 billion drachmas, up 0.54 percent on the first quarter of 2000, the parent bank said in a statement.

Assets at the end of the first quarter were 5,175 billion drachmas, posting a rise of 6.7 percent on the same period of last year, the statement said.

Loans totalled 2,336 billion drachmas in the first quarter, up 26.3 percent on 1,850 billion drachmas in same-period 2000.

Deposits and repos in the first quarter of 2001 increased by 10.5 percent to 3,870 billion drachmas, the statement added.

[04] ASE-close

Selective buying in Greek blue chip stocks by five American developed markets' funds pushed equity prices sharply higher on Friday and reversed a 10-day decline on the Athens Stock Exchange.

National Bank (+5.92%), Commercial Bank (+4.81%), Alpha Bank (+4.26%), Cosmote (+5.97%), Hellenic Telecoms (+3.08%) and Panafon (+2.87%), attracted heavy demand and led the market to a spectacular rebound.

Traders said the inflow of developed markets' passive funds would continued next week following the publication of MSCI's new set of indexes on Saturday, a development likely to lead to a widespread portfolio restructuring around the world.

The general index ended 3.49 percent higher at 3,166.28 points, near the day's highs, with turnover an improved 232.76 million euros, or 79.31 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 1,855.96 points, up 4.02 percent, while the FTSE/ASE 40 index rose 2.07 percent to 362.90 points.

The parallel market index for smaller capitalisation stocks ended at 311.39 points, up 0.38 percent.

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