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Athens News Agency: News in English, 10-01-11

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

From: The Athens News Agency at <>


  • [01] PM: Local gov't mergers to proceed
  • [02] Starwood to open Sheraton resort on Rhodes
  • [03] Foreign investors net buyers in ASE last year
  • [04] Econ sentiment down in Dec.
  • [05] Stocks end slightly down

  • [01] PM: Local gov't mergers to proceed

    Prime Minister George Papandreou on Monday said the government is determined to proceed with the "Kallikratis" reform and merger plan in public administration and local government, stressing that "the Greek people voted us into office to make changes, not patches".

    Papandreou noted that a wider consensus exists, adding that the plan had been pre-announced by main opposition New Democracy (ND) when it was in government, but never implemented. He also said the plan has wide acceptance among the public, stressing that it is a necessary reform that all agree must be done.

    The premier made the latter statements to reporters after the conclusion of a swear-in ceremony of newly appointed Deputy Interior, Decentralisation and e-Governance minister Georgios Dolios, in the presence of President Karolos Papoulias at the presidential mansion.

    Addressing himself to the new deputy interior minister, Papandreou wished him success in his new duties "in a ministry that is at the forefront of changes in the state".

    [02] Starwood to open Sheraton resort on Rhodes

    (ANA-MPA) -- Starwood Hotels & Resorts Worldwide Inc. will launch its first Sheraton hotel in Greece with the inauguration of a Sheraton Rhodes Resort in the spring, the company announced on Monday.

    Starwook Hotels & Resorts will open its eighth hotel in Greece. The Sheraton Rhodes Resort will be located only a few kilometres from the city‚s historic old quarter district and features 401 rooms.

    "Rhodes is a magical destination and we are thrilled to bring Sheraton, our most emblematic chain, to this significant travel destination," Roeland Vos, the president of Starwood Hotels & Resorts in Europe, Africa and Middle East, said in a statement.

    [03] Foreign investors net buyers in ASE last year

    Foreign investors were net sellers at the Athens Stock Exchange on Monday, although they were net buyers throughout 2009, official figures showed on Monday.

    Foreign investors recorded net capital outflows of 359.96 million euros in December, while Greek investors were net buyers with capital inflows of 336.32 million euros.

    Throughout the year, foreign investors were net buyers with capital inflows totaling 9.8 million euros, while Greek investors were net sellers with capital outflows totaling 9.2 million euros.

    Foreign investors accounted for 51.3 pct of transactions in the Athens Stock Exchange in December, up from 50.2 pct in November but down from 52.3 pct in December 2008, while Greek investors accounted for 49.7 pct of transactions, up from 29.2 pct in November and 28.1 pct in December 2008.

    December‚s average daily turnover was 221.83 million euros, down from 264.92 million in November but sharply up from 128.66 million in December 2008.

    The capitalisation of the Athens Stock Exchange totaled 84.1 billion euros in December 31, 2009, slightly up from a month earlier, but significantly up compared with December 2008 (69 billion euros).

    [04] Econ sentiment down in Dec.

    Economic sentiment in Greece worsened in December, reflecting a further weakening of consumer confidence, the Institute for Economic and Industrial Research (IOBE) announced on Monday.

    In a monthly report, IOBE said the economic sentiment index fell to 64.2 points in December, down from 66.4 in November, falling for the second consecutive month in a row. IOBE said a strong recovery of consumers‚ and enterprises‚ expectations during the pre-election period was gradually adjusting to the prevailing economic environment, marked by the strict supervision of the Greek economy by the EU and an expected tighter incomes policy in the country.

    The consumer‚s confidence index fell to -44 points in December, significantly lower from reading of -14 and -16 pct in the EU and the Eurozone, respectively.

    Greek consumers were seriously concerned over developments in unemployment, while consumers‚ expectations over the financial situation of their households worsened significantly to -21 points in December.

    Only 13 pct of Greek households expect a slight improvement of their finances, while 44 pct expect a significant worsening.

    Greek households expect a slight or marked rise in unemployment rates in the next 12 months, with only 5.0 pct expecting a decline, while expectations over savings fell slightly in the month.

    [05] Stocks end slightly down

    Stocks eased slightly in the Athens Stock Exchange on Monday, unable to hold on to their initial significant gains. The composite index of the market eased 0.53 pct to end at 2,315.31 points, with turnover a moderate 174.068 million euros.

    The FTSE 20 index fell 0.74 pct, the FTSE 40 index ended 0.50 pct lower and the FTSE 80 index rose 0.16 pct. The Utilities (1.05 pct) and Oil (1.18 pct) sectors scored the biggest gains, while Travel (2.89 pct) and Health (1.41 pct) suffered the biggest percentage losses of the day.

    Elfico (19.59 pct), Lanakam (19.42 pct), Ekter (18.92 pct) and Ideal (17.07 pct) were top gainers, while FHL Kyriakidis (9.57 pct), Mathios (8.75 pct), Neorio (8.33 pct) and Mevaco (8.27 pct) were top losers.

    Broadly, decliners led advancers by 109 to 93 with another 42 issues unchanged.

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