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Athens News Agency: News in English, 08-11-12

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Karamanlis chairs KYSEA meeting
  • [02] Record price for Volanakis work
  • [03] Losses partially recouped

  • [01] Karamanlis chairs KYSEA meeting

    Prime minister Costas Karamanlis on Wednesday chaired a meeting of the Government Council for Foreign Affairs and Defense (KYSEA), which discussed matters related to the restructure of the Armed Forces, as well as the issue of despatching a frigate to Somalia, where there has been an increase in the number and frequency of piracy of merchant ships. Later, Karamanlis will chair an Inner Cabinet meeting on issues concerning the Enviroment Ministry.

    On Tuesday, Karamanlis issued a stern warning to banks and noted that, while their participation in the government package to support market liquidity was voluntary, "no one can heedlessly say no to the common effort."

    Caption: ANA-MPA file photo of Prime Minister Costas Karamanlis.

    [02] Record price for Volanakis work

    A work by Greek painter Constantine Volanakis, titled "The Arrival of Karaiskakis at Faliron", was sold for a record 1.97 million euros on Tuesday at a Sotheby's auction house "Greek Sale".

    Volanakis' oil on canvas depicting 1821 Greek Revolution hero George Karaiskakis sailing with is fleet into Faliron for the liberation of Athens from the Turkish seige brought in a record price for a painting by a Greek artist.

    The record was previously held by a painting by Nikiforos Lytras titled "Festival in Megara", which was sold for 1,138,396 euros by Sotheby's in its November 22, 2006 session.

    Volanakis' painting was bought by a Greek international art collector who wishes to remain anonymous, but a Sotheby's spokesperson said that the work would remain in Greece.

    Tuesday's "Greek Sale" brought in a total 7.429 million euros.

    Other paintings sold at Tuesday's session included Theodoros Rallis' "Marionettes in the Harem", which brought in 589,000 euros, Nicholas Gyzis' "The Neighbors" (The Gossips) for 442,000 euros, an untitled Yannis Moralis work for 229,000 euros, Georgios Jakobides' "Grandpa's Favorite" for 221,000 euros, and another Volanakis painting titled "Mending the Nets" for 221,000 euros.

    Caption: ANA-MPA/EPA/PETER FOLEY file photo of an auction at Sotheby's on Wednesday 3 May 2006 in New York .

    [03] Losses partially recouped

    Equity prices were declining on Wednesday on the Athens Stock Exchange (ASE), with the basic share price index down 1.56 percent, standing at 2,018.40 points at 12:45 p.m., and turnover at 86.5 million euros.

    The biggest gains in Financial Services, up 5.80 percent; Insurance, up 2.76 percent; Telecoms, up 1.79 percent; and Technology, up 1.61 percent.

    The biggest losses were in Food & Beverage, down 3.55 percent; Public Utilities, down 3.38 percent; Banks, down 2.94 percent and Construction, down 1.78 percent.

    The FTSE/ASE 20 index for blue chip and heavily traded stocks was up 1.70 percent, the FTSE/ASE MID 40 index was up 0.34 percent, and the FTSE/ASE-80 small cap index was up 0.33 percent.

    Of the stocks moved, 57 were up, 114 were down, and 51 were unchanged.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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