Athens News Agency: News in English, 03-05-08

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

CONTENTS

[01] Alternate FM issues statement on Friday's EU Day

[02] Hellas Sat ready for launch at Cape Canaveral

[03] Civil servants may strike in wake of pay talks collapse

[04] Farmers to protest in Corfu during EU meeting

[05] British Olympic Committee satisfied with Athens Olympic Games

[06] Industry says jobless may rise to 20 pct in absence of gov't action

[07] EU to tackle consumer fraud

[08] CORRECTION: Profit taking ends six-day rally on ASE

[09] Authorities fine UBS AG for insider trading

[10] Foreign Exchange Rates - Friday

[11] Weather Forecast: Sunshine on Friday

[12] Profit taking ends six-day rally on ASE

[01] Alternate FM issues statement on Friday's EU Day

Alternate Foreign Minister Tassos Yiannitsis on Thursday issued a statement in light of Friday's celebration of the Day of Europe, stressing that ''for decades now the citizens of Europe have lived in an environment of peace, prosperity and democratic freedoms''.

''Today, the citizens of the enlarged European Union face new prospects with many new possibilities, but also with many uncertainties. No one can influence the developments and the landscape more than organized societies and political forces. The forces that believe that the European structure secures options and prospects for greater trust, certainty and humanity,'' he said.

''In the times to come we will have many battles to wage in Europe. It is worth it. In any case the great aims and the important values are not an issue concerning only governments. Whatever is worthwhile in real life should be part of an everyday personal and collective vigilance and conquest,'' he concluded.

[02] Hellas Sat ready for launch at Cape Canaveral

The launch of the first Greek telecommunications satellite into space covering the telecommunications needs of Greece and Cyprus in the next 15 years is entering its last stage after a two-month delay to address technical problems that had cancelled an initial launch.

Hellas Sat is scheduled to be launched on Monday, 12 May from Cape Canaveral, in Florida USA and is expected to take its position 39 degrees east in about a week later.

Hellas Sat is one of the most updated satellites in the world equipped with two steady beams with 18 transmittors to cover Europe and two mobile beams with 12 transmittors to cover the Middle East, Africa and Southeastern Asia.

Each transmittor has a band width of 36MHz and can offer a wide range of telecommunication and television services, such as satellite Internet, audio and visual services, digital satellite television.

Hellenic Telecommunications Organisation's chief executive Lefteris Antonakopoulos said that the project was a significant step taken jointly by Greece and Cyprus. He added that the satellite would open the space horizon by including Greece among countries with presence into space programmes, and it would significantly contribute in broadcasting the Athens 2004 Olympic Games.

[03] Civil servants may strike in wake of pay talks collapse

The civil servants union said on Thursday that it may call its members to strike following a breakdown in pay negotiations with the government.

The ADEDY union said in a statement released after talks with Finance Minister Nikos Christodoulakis that no agreement was reached on a new payscale, and members were not hopeful of the outcome of fresh talks on May 22.

The union is to meet on May 12 to set the date for a 24-hour strike in the public sector, the statement said.

According to union sources, the strike is likely to be held on May 19.

[04] Farmers to protest in Corfu during EU meeting

Farmers are to stage protests on Corfu on May 13, timed to coincide with the last day of a European Union meeting on the island.

Four to five thousands farmers are expected to take part in the demonstration to oppose a proposal by the EU's executive Commission on reform of the common agricultural policy.

The informal meeting of farm ministers chaired by Greece, the EU's rotating president, begins on May 10.

The meeting chaired by Agriculture Minister George Drys will focus on quality farming.

[05] British Olympic Committee satisfied with Athens Olympic Games installations

British Olympic Committee officials who visited Athens were satisfied with the progress of Olympic Games installations and contacts with Athens 2004 Organising Committee (ATHOC) members.

The British delegation visited the Olympic Village and expressed appreciation for the infrastructure and housing conditions provided for athletes.

ATHOC managing director Spyros Kapralos briefed the members of the British Olympic Committee on preparations for the Olympic Games, while other officials referred to individual programmes and gave their British colleagues a guided tour of sports installations.

British Olympic Committee Secretary General Simon Clegg, who will head his country's delegation at the Games, said ''we are very pleased to be in Athens where the heads of sporting events and the members of the Olympic Committee are carrying out a series of intensive meetings with members of the Organising Committee. We were particularly impressed with the development of work at the Olympic Village and we expect that the environment will be ideal for the athletes during the Games.''

[06] Industry says jobless may rise to 20 pct in absence of gov't action

The Association of Greek Industry said on Thursday that unemployment could rise to 18-20 percent if the government failed to take the right economic policy measures.

Referring to the planned closure of an underwear manufacturing plant in Athens by Schiesser of Switzerland, the trade group's president, Odysseas Kyriakopoulos, told reporters that new shutdowns were likely as Greece no longer had low labour costs.

The phenomenon had already occurred in other European countries and in the United States of America, Kyriakopoulos said.

The government needed to promote business activity through creation of the right infrastructure and a climate favouring the establishment of new firms, which would bring new jobs, he added.

[07] EU to tackle consumer fraud

The European Union is to form a united front against fraud through legislative measures, EU Commissioner David Byrne told an informal meeting of consumer affairs ministers on Thursday.

Chairing the meeting in Eretria, Greek Development Minister Akis Tsohatzopoulos said that a dynamic presence was required by the consumer movement in the bloc, as well as guarantees of participation by consumer unions in policy development to safeguard the financial interests of the public.

Among the EU's plans are the creation of a data base on European sector legislation, the creation of a state body in each member state to implement laws, and the formulation of a single framework to tackle unfair business practices, Byrne said.

[08] CORRECTION: Profit taking ends six-day rally on ASE

In paragraph two, please read ''...to end at 1,749.95 points...'' instead of ''...to end at 1,549.45 points...'' as incorrectly stated.

A corrected version follows.

Greek stocks ended a six-day rally in the Athens Stock Exchange on Thursday as investors preferred to take profits after a decision by the European Central Bank to hold interest rates steady in the eurozone.

The general index fell 1.80 percent end at 1,749.95 points, with turnover at 101.4 million euros.

All sector indices ended lower with the Publication, IT Solutions, Textile, Insurance and Wholesale suffering the heaviest percentage losses of the day (4.14 percent, 3.63 percent, 3.56 percent, 3.31 percent and 3.14 percent, respectively).

The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 1.83 percent, the FTSE/ASE MID 40 index eased 1.83 percent, the FTSE/ASE SmallCap 80 index dropped 2.44 percent and the wider FTSE/ASE 140 index fell 1.89 percent.

Broadly, decliners led advancers by 305 to 33 with another 19 issues unchanged.

[09] Authorities fine UBS AG for insider trading

The capital market commission said on Thursday that it had fined UBS AG, a global investment house, 330,000 euros for insider trading.

UBS had carried out trades at the Athens Stock Exchange before releasing its market reports for investors containing recommendations on specific stocks.

The investment house was employing information it held in order to trade on the stocks named in the reports, ahead of release, the market commission said in a statement.

The fine was set on the basis of the nature of the breach of market regulations, and on the fact that the firm's gains from the transactions were not major, the commission added.

[10] Foreign Exchange Rates - Friday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 1.152

Pound sterling 0.717

Danish kroner 7.484

Swedish kroner 9.188

Japanese yen 133.8

Swiss franc 1.516

Norwegian kroner 7.922

Cyprus pound 0.592

Canadian dollar 1.611

Australian dollar 1.798

[11] Weather Forecast: Sunshine on Friday

Hot, sunny weather is forecast in all parts of the country, with periodic scattered cloud in the west. Winds northerly, light to moderate, turning strong in parts of the southern Aegean. In the north, temperatures will range from 13C to 31C; in the west from 15C to 33C; and in the rest of the country from 16C to 30C. Temperatures in Athens between 16C and 30C; and in Thessaloniki from 15C to 28C.

[12] Profit taking ends six-day rally on ASE

Greek stocks ended a six-day rally in the Athens Stock Exchange on Thursday as investors preferred to take profits after a decision by the European Central Bank to hold interest rates steady in the eurozone.

The general index fell 1.80 percent end at 1,549.45 points, with turnover at 101.4 million euros.

All sector indices ended lower with the Publication, IT Solutions, Textile, Insurance and Wholesale suffering the heaviest percentage losses of the day (4.14 percent, 3.63 percent, 3.56 percent, 3.31 percent and 3.14 percent, respectively).

The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 1.83 percent, the FTSE/ASE MID 40 index eased 1.83 percent, the FTSE/ASE SmallCap 80 index dropped 2.44 percent and the wider FTSE/ASE 140 index fell 1.89 percent.

Broadly, decliners led advancers by 305 to 33 with another 19 issues unchanged.

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