Anadolu Agency: News in English, 00-08-09

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ANADOLU AGENCY

NEWS

09

AUGUST 2000Wednesday

CONTENTS

[01] TURKEY-PRESS SCAN

[02] MOTHER AND SON DIE IN WRECKAGE

[03] GTO CHAIRMAN ASLAN: ''WE HAVE TO LAUNCH MORE EFFORTS TO IMPROVE THE COMMERCIAL RELATIONS WITH NEIGHBOURS''

[04] TURKEY SAVES 2,5 TRILLION TL THROUGH 20-DAY ECONOMY

[05] 197.5 THOUSAND TONS OF HAZELNUTS EXPORTED SINCE SEPTEMBER 1, 1999

[06] STRAIT TUBE-TUNNEL PROJECT -FINAL TECHNICAL BIDS FOR CONSTRUCTION TO BE SUBMITTED ON AUGUST 28

[07] STATE MINISTER RECEP ONAL STAGES PRESS BRIEFING

[08] COOPERATION PROGRAM BETWEEN TURKEY AND WHO

[09] SPORTS-GYMNASTICS -14TH INTERNATIONAL BOSPHORUS RHYTHMIC GYMNASTICS TOURNAMENT TO BE HELD IN ISTANBUL BETWEEN AUGUST 11-12

[10] LEADERS SUMMIT STARTS

[11] IMPORTS AND EXPORTS FROM TEKIRDAG

[12] PRIVATIZATION DF VAKIFBANK -STATE MINISTER YALOVA: ''PUBLIC OFFERING OF VAKIFBANK WILL BE MADE THROUGH THE END OF OCTOBER''

[13] LEADERS' SUMMIT ENDS

[14] EXPLOSION AT FLORANCE NIGHTINGALE HOSPITAL

[15] BODY OF SEVEN-YEAR-OLD BOY PULLED FROM WRECKAGE OF COLLAPSED BUILDING IN MERSIN

[16] LEADERS' SUMMIT -PRIME MINISTRY STATEMENT: ''THE SITUATION FOLLOWING THE REJECTION OF THE KHK BY THE PRESIDENT IS DISCUSSED''

[17] TREASURY'S STAND-BY ARRANGEMENT MONTHLY REPORT

[18] STATE MINISTER RECEP ONAL STAGES PRESS BRIEFING (2) -EXISTING LEVEL OF THE INFLATION FIGURES REVEALS THAT INFLATION TENDENCY COULD NOT BE BROKEN ADEQUATELY

[19] TRANSPORTATION MINISTER OKSUZ LEAVES FOR RUSSIA

[20] CAMPAIGN TO COMMEMORATE QUAKE VICTIMS

[21] ISRAELI PUBLIC SECURITY MINISTER BEN AMI DUE IN TURKEY

[22] EXORTION CASE OF AGCA -MEHMET ALI AGCA WANTED THE ISSUES FROM WHICH HE WOULD BE TRIED, TO BE CLARIFIED

[23] TOURISTIC EXCURSIONS FROM MARMARIS TO RHODES TO START ON AUGUST 13

[24] ANOTHER MOSAIC UNEARTHED FROM ZEUGMA

[01] TURKEY-PRESS SCAN

HURRIYET (LIBERAL)

16 PERSONS INJURED
A total of 16 persons were injured when a three-storey building collapsed in southern Mersin province last evening. All of the injured including the four seriously wounded were hospitalized. Efforts are underway to rescue two persons from the wreckage.

MILLIYET (LIBERAL)

PROSECUTOR YUKSEL:''GULEN IS DANGEROUS''
Prosecutor Nuh Mete Yuksel objected the court decision not to arrest Fethullah Gulen and he appealed to a higher court. Yuksel, in a one page letter he wrote to the higher court, said Gulen had formed an organization against the secular state and the institutions that are under his control are training young people against the state.

SABAH (LIBERAL)

ECEVIT:NEW INTERPRETATION NEEDED FOR ISLAM
Prime Minister Bulent Ecevit who said that ''my wife and I continiously pray,'' stressed that new interpretation is needed for Islam.

''Democracy will prevail in Islamic countries at last. Democracy also improves in a country where there is secularism. Turkey will create a new and sound Islam understanding which will be valid in the whole world,'' noted Ecevit.

CUMHURIYET (LEFT)

PROSECUTOR YUKSEL INSISTS ON GULEN
Ankara State Security Court (DGM) Prosecutor Nuh Mete Yuksel insisted on arrest of Fethullah Gulen on charges of ''inciting hatred among people'' and ''setting up organization to destroy the secular Republic'' in accordance with Articles 312 and 313 of the Turkish Penal Code. Prosecutor Yuksel raised objection to the decision on rejection of arrest of Fethullah Gulen. In the suit brought by the DGM Prosecutor, especially last thirty year-histoy of the Nur (Divine Light) sect will be observed. During the process of the case, targets of Gulen and his organization, their strategies and financial sources will come to the agenda.

SERGEN YALCIN JOINS TRABZONSPOR
Sergen Yalcin, Turkish National Team's midfielder, signed a one-year contract with Trabzonspor, becoming first ever Turkish football player playing for the four biggest soccer clubs Besiktas, Galatasaray, Fenerbahce and Trabzonspor of Turkey. He also played for Istanbulspor. ''I joined Trabzonspor to go far from Istanbul,'' Sergen Yalcin said after he signed the contract.

RADIKAL (LEFT)

FINANCE TO DENOUNCE TAX EVADERS
The Ministry of Finance which has difficulty in collecting taxes of nearly 5 quadrillion liras, speeded up its efforts to denounce the tax evaders in front of the public opinion. The lists of tax evaders will be announced through the internet sites of the Finance Ministry. General Directorate of Incomes of the Finance Ministry started to work to make public the list as of October.

YENÝ BÝNYIL (LIBERAL)

DENIZLI'S KILIMS ON INTERNET
Internet usage is relatively high in Denizli which has the highest number of internet cafes per person in the country. www.shopinturkey.com of Mesut Ozsoy Engineering company is one of the internet sites which does trade on the internet in Denizli. This site is helping Denizli's kilims to reach foreign consumers. The company is also taking orders from foreign countries and selling marble to the world which is found in great amounts in the city.

TURKIYE (RIGHT)

IT COLLAPSES AS IF IN EARTHQUAKE
A four-storey old building in southern Mersin province collapsed late on yesterday. Twenty four people were trapped beneath the rubbles. Sixteen of those people were rescued immediately but three of them were seriously injured. Rescue teams are trying to pull eight people out from the rubble. The adjacent building suffered damage in the collapse which created panic among the surrounding residents.

BLACK EAGLES ARE NOW IN EUROPE
Besiktas soccer club which beat Bulgaria's Levski Sofia in the European Champions League second round hosted its Russian opponent Lokomotiv Moscow in Istanbul. Besiktas beat Lokomotiv Moscow 3-0 in the third qualifying round first leg, gaving the message that ''they are now European''.

ZAMAN (CONSERVATIVE)

TEDAS TAKES A STEP BACK IN FIXED FEE
Turkey Electricity Distribution Inc. (TEDAS) withdrew the fixed fee it was going to charge from its subscribers to make up for the illegal electricy usages and also for the fees subsribers failed to pay TEDAS. Upon reactions from the public, Energy and Natural Resources Minister Cumhur Ersumer instructed TEDAS to suspend the regulation.

[02] MOTHER AND SON DIE IN WRECKAGE

The rescue teams reached Semra Ugurdil and her son Salim Ugurdil who were trapped in the wreckage of four storey building which came down on Tuesday night.

The mother and her son who stayed in the wreckage for nine hours died around 05.00 a.m. despite all the efforts to keep them alive.

A total of 16 persons were rescued from the wreckage of the same building last night.

[03] GTO CHAIRMAN ASLAN: ''WE HAVE TO LAUNCH MORE EFFORTS TO IMPROVE THE COMMERCIAL RELATIONS WITH NEIGHBOURS''

''As long as we don't achieve this goal, there is no meaning to produce goods,'' told Aslan to A.A correspondent and noted that the negative consequences of the Gulf Crisis and the embargo imposed upon Iraq clearly showed the importance of the commercial relations with neighbours.

Aslan stated that the commercial relations of Turkey with none of its neighbours are at the desired level, noting that ''our trade policy with neighbours should be reviewed. The share of neighbouring countries in our foreign trade is only 8 percent. This ratio is around 40-50 percent in European and American countries.''

Turkey has to give the priority to its neighbours in its policy of opening to the world, said Aslan and noted that ''a new dimension has to be achieved in the relations with neighbours particularly with Syria, Iraq and Iran. If this comes true, the regional economy and social life will revive.''

[04] TURKEY SAVES 2,5 TRILLION TL THROUGH 20-DAY ECONOMY

Turkey Electricity Distribution Inc. (TEDAS) General Directorate had sent a letter to electricity distribution institutions and companies where it asked them to cut back on electricity consumption.

After leaving behind 20 days, it was stated that 50 million kilowatt/hour electricity was saved during this time. Annually four billion kilowatt/hour electricity is used for the illumination of highways and roads in Turkey. The government is planning to save 100 trillion TL by restricting the consumption of electricity in the highways and roads in the country.

As a part of the economy measures, every one of the two bulbs is turned off except for crossroads and in some roads the brightness of bulbs is decreased. In some roads which are not frequently used, lamps are turned off completely after midnight.

The Prime Ministry circular which lists various economy measures to overcome Turkey's electricity problem is currently waiting for Prime Minister Ecevit's signature. The circular is asking public institutions to use electricity sparingly, especially in air conditioning systems, and reduce the amount of lights they use in parks, gardens, windows, billboards and various decorations.

Meanwhile, upon a growing reaction from people against the discussions over a fixed fee for elecricity, TEDAS suspended the regulation. The next measure is to cancel the 3,5 percent share that is paid to the TRT from electricity sales and also to terminate the discounted fees. However, experts are not hopeful about the realization of these initiatives.

[05] 197.5 THOUSAND TONS OF HAZELNUTS EXPORTED SINCE SEPTEMBER 1, 1999

Officials at the Black Sea Union of Hazelnut Exporters told the A.A correspondent on Wednesday that Turkey had exported 194 thousand 564 tons of hazelnuts, and obtained an income of 685.9 million U.S. dollars.

Turkey exports hazelnuts mainly to the European countries.

In the same period last year, Turkey had exported 172 thousand 890 tons of hazelnuts, and obtained 716 million 50 thousand 334 U.S. dollars foreign exchange income.

[06] STRAIT TUBE-TUNNEL PROJECT -FINAL TECHNICAL BIDS FOR CONSTRUCTION TO BE SUBMITTED ON AUGUST 28

Officials at the State Ports and Airports Directorate General told the A.A correspondent on Wednesday that the final technical bids of the bidding consortia would be collected on August 28 and those would be evaluated.

After the evaluation, negotiations with the consortium which brings the most satisfactory and appropriate bid will be held.

Officials said that three consortia formed by several companies from Turkey, Japan, Netherlands, Britain, United States, Germany and France had submitted their bids for the project so far.

Officials said the total cost of the project was 1.6 billion U.S. dollars.

In accordance with the project, the 63-kilometer two-line railway between Gebze and Halkali will be increased to three lines.

The new railway will be used by cargo and passenger trains during the heavy traffic hurs in Istanbul.

The 13.3-kilometer strait railway tube-tunnel between Yenikapi and Sogutlucesme will be connected to the strait passing.

The railway strait tube-tunnel will be carried out together with the change of commuter lines into subway lines.

The railway will include the Uskudar-Sirkeci-Yenikapi-Halkali tube-tunnel and nearly 80 kilometers of a subway line.

The strait will be filled with appropriate filling material and rocks.

There will be one ventilation shaft in the Asian side and two ventilation shafts in the European side.

The trains will serve 75 thousand people per hour.

The project will not damage the historical and natural structure of Istanbul and the environment.

The Japan Overseas Economic Cooperation Fund extended 866 million U.S. dollars loan for the project.

[07] STATE MINISTER RECEP ONAL STAGES PRESS BRIEFING

Staging a press briefing, Onal said that it has been understood that the chronic inflation, the serious instability in production of goods and service, the fluctuating and high interest rates and the instability in public sector can only be overcome by a long term and rooted structural regulations and reforms.

''The 57th government which has been in power for 14 months so far, took action by knowing that the most important reason of the inflation in Turkey stems from the need of the public sector to borrow and the deep structural weakness in its finance,'' he noted.

''The existing economic programme belongs to all of us. We have to eliminate inflation this time, as our people wish that. All sections of the society should extend support to the programme that is being implemented,'' Onal noted.

Onal said that the basic aims of the three-year programme is to struggle with the inflation in a comprehensive and lasting way, to decrease the high interest rates, to revive the economic growth and to implement the necessary structural reforms.

[08] COOPERATION PROGRAM BETWEEN TURKEY AND WHO

The program includes joint activities that will be carried out in Turkey in the field of health between 2000-2001 through the amount of fund that will be allocated to Turkey from the WHO budget.

Within the framework of the program, the WHO will mobilize other supports including donations from development banks and international organizations.

[09] SPORTS-GYMNASTICS -14TH INTERNATIONAL BOSPHORUS RHYTHMIC GYMNASTICS TOURNAMENT TO BE HELD IN ISTANBUL BETWEEN AUGUST 11-12

Gymnasts of Turkey, Uzbekistan, Slovakia, Georgia, Egypt, Turkmenistan, Albania, Bulgaria, Kazakhstan, Romania, Finland, Jordan, Tunisia, Czech Republic, Latvia, Moldova, Kyrgyzstan, Russia, Azerbaijan and the Turkish Republic of Northern Cyprus (TRNC) will attend the tournament at the Ahmet Comert Sports Hall.

[10] LEADERS SUMMIT STARTS

Bulent Ecevit, the Prime Minister and the leader of the Democratic Left Party (DSP); Devlet Bahceli, the Deputy Premier and the leader of the Nationalist Movement Party (MHP); Mesut Yýlmaz, the Deputy Premier and the leader of the Motherland Party (ANAP) and Husamettin Ozkan, the Deputy Premier attend the meeting.

The leaders are expected to take up the situation following the rejection of the decree having the force of law (KHK) which foresees new regulations about dismissal of civil servants and other developments.

[11] IMPORTS AND EXPORTS FROM TEKIRDAG

Tekirdag customs officials said on Wednesday that mainly fuel oil and oil products worth of 39,8 million dollars were imported.

Iron and steal worth of 2,8 million dollars and glass and ceramic products worth of 1,33 million dollars were exported from Tekirdag.

[12] PRIVATIZATION DF VAKIFBANK -STATE MINISTER YALOVA: ''PUBLIC OFFERING OF VAKIFBANK WILL BE MADE THROUGH THE END OF OCTOBER''

Yalova said he believed domestic and foreign investors would show great interest in the public offering.

Speaking to the A.A correspondent, Yalova recalled that the decree having the power of law which allows sale of Vakifbank's Group A and B shares entered into effect.

In accordance with the decree in question, Group B shares would be sold by public offering, and the Council of Ministers would be responsible in sale of Gruop A shares, Yalova stated.

Noting that the legal process of the public offering was under way, Yalova said the technical works were also continuing.

Yalova said that within this scope, they were holding talks with foreign organizatins Goldman Sachs, Schroder Salomon Smith Barney, Credit Suisse First Boston, Morgan Stanley Dean Wýtter, JP Morgan, Merrill Lynch and Chase/Fleming, and intermediary organizations Is Investment and Securities Corp, Yapi Kredi Investment and Securities Corp. and Finans Investment Corp.

As of today, Vakifbank has 329 branch offices, 24 special transaction centers, 104 payment offices and partnerships at 40 companies operating in several sectrs.

Vakifbank's assets are now about 6 billion 571 million U.S. dollars.

[13] LEADERS' SUMMIT ENDS

Bulent Ecevit, Prime Minister and leader of the Democratic Left Party (DSP); Devlet Bahceli, Deputy Prime Minister and leader Nationalist Movement Party (MHP); and Mesut Yilmaz, State Minister and Deputy Prime Minister; attended the meeting which lasted nearly an hour.

Husamettin Ozkan, State Minister and Deputy Prime Minister also attended the meeting.

The leaders took up the situation following the rejection of the decree having the force of law (KHK) which foresees new regulations about dismissal of civil servants and other developments.

[14] EXPLOSION AT FLORANCE NIGHTINGALE HOSPITAL

Officials told the A.A correspondent that fire which broke out after the explosion, was extinguished by fire-fighting teams.

A full investigation is underway in order to determine cause of the explosion.

[15] BODY OF SEVEN-YEAR-OLD BOY PULLED FROM WRECKAGE OF COLLAPSED BUILDING IN MERSIN

Officials told the A.A correspondent that 16 people were rescued from wreckage of the collapsed building.

Body of Semra Ugurdil was pulled from wreckage earlier today.

[16] LEADERS' SUMMIT -PRIME MINISTRY STATEMENT: ''THE SITUATION FOLLOWING THE REJECTION OF THE KHK BY THE PRESIDENT IS DISCUSSED''

The statement said, ''leaders of the coalition partner parties, in a meeting they held on Wednesday morning, discussed the situation following the rejection of the KHK by the President, and decided to discuss the issue during Thursday's Council of Ministers meeting.''

[17] TREASURY'S STAND-BY ARRANGEMENT MONTHLY REPORT

Following the second review as per the Stand-By Arrangement, a letter of intent was approved by the International Monetary Fund (IMF) Board of Executive Directors on July 6, 2000. Accordingly, the third tranche amounting to SDR 221,7 million has been transferred to the Treasury’s account upon its release by the Fund.

In accordance with IMF's practice of examination of country cases through its Reports on Observance of Standards and Codes, a mission was in Turkey in April. The report prepared by this mission includes the review on transparency in public finance administration, data standards and banking sectors against international standards.

Progress in Implementation:

Upon the successful implementation of the structural reforms and fiscal adjustment under the economic program supported by the IMF Stand-By Arrangement, the Credit Rating Agency Moody’s, has announced that the credit note of Turkey will be reviewed with a possible upgrade. Currently, the credit note of Turkey is ''B1'' and ''B2'' for long term foreign currency bonds and deposits, respectively.

In line with the structural reforms carried out under the Stand-By Arrangement, the study which aims to analyse and propose solutions to the problems of the most problematic State Economic Enterprises in energy, agriculture and transportation-communications sectors is expected to be concluded in August. A protocol for consolidation of the debts and receivables of SEEs in the energy sector has already been put in effect.

The Privatization Agency has sold the public shares in five companies. These companies are Ross Breeders-Koy-Tur Ana Damizlik Tavukculuk San. Tic. A.S., METAS, Aymar Yag Sanayi A.S., Olgun Celik San. Tic. A.S. and ETUDAS.

Is Bankasi and Dogan Holding consortium has announced that out of the portion paid in cash amounting to 1.26 billion U.S. dollars for the purchase of 51 percent of the shares of Petrol Ofisi A.S., 500 million U.S. dollars will be financed through company resources while the remaining portion will be financed through domestic borrowing. This sale has a key role for Turkey targeting 7.6 billion U.S. dollars of privatization proceeds.

Developments in the Main Aggregates:

Growth: The increase in the monthly industrial production index Gross Domestic Product for March, April and May 2000 increased by 1 percent, 2.7 percent and 2.8 percent, respectively, compared to the same periods of the previous year. This index increased by 3.6 percent in the January-May 2000 period over the same period of the previous year. In case of a sectoral evaluation, a comparison made between the 5 month averages of the years 1999 and 2000 shows that production has increased by 3.3 percent in manufacturing, 9.2 percent in the electricity, gas and water sectors and decreased by 2.9 percent in the mining sector.

Capacity utilization rate for June 2000 was 76.6 percent as compared to 76.4 percent in June of the previous year.

Public Finance Public Balance Adjusted consolidated budget realizations for the January-June period are shown below:

. Consolidated Budget (cumulative) (TL Trillion)

. ---------------------------------------------
. January-June 2000

. ----------------
Total Expenditures 23,531

Total Revenues 15,181

Tax Revenues 12,315

Other Revenues 2,754

Privatization Receipts (53)

CBT Revenue (229)

(interest income) (144)

Non-interest Expenditures 10,502

Primary Balance 4,253

Budget Balance -8,351

Adjusted total revenues in the January - June period reached 15,181 trillion TL, marking an increase of 107 percent compared to the same period of last year. The tax revenues amounted to 12,315 trillion TL while other revenues realised at 2,754 trillion TL. While the total expenditures realised at 23,531 trillion TL registering an increase of 90 percent, non- interest expenditures amounted to 10,502 trillion TL in comparison with the 6,967 trillion figure of the same period in 1999. Hence, the primary balance stood at 4,253 trillion TL, in nominal terms 16 times higher than last year's figure of 267 trillion TL for the same period. The cash balance for the January-July 2000 period is shown below:

. Treasury Cash Balance (cumulative) (TL Trillion)

. -------------------------------------------------
. January-July 2000

. ----------------
Non-interest expenditures 12,472.1

Interest Expenditures 13,038.2

Revenues 16,148.9

Primary Balance (surplus) 3,676.7

Overall Cash Balance -9,361.4

In January-July 2000 period, revenues on cash basis realised at 16,148.9 trillion TL while non-interest expenditures reached 12,472.1 trillion TL. In the same period, interest payments were 13,038.2 trillion TL. On cash basis primary surplus was 3,376.7 trillion TL, while overall cash balance stood at -9,361.4 trillion TL.

Domestic Borrowing: Compounded annual interest rates realized at the auctions in June stood at 32.55 percent for 12 months maturity, 31.96 percent for 3-month maturity and 46.79 percent for the 2 year FRN auction. Total domestic debt stock reached 30,391,620 billion TL as of end-June 2000. Out of the total stock, 28,852,528 billion TL are bonds and 1,539,093 billion TL are T-Bills. Total domestic borrowing and redemption for the first seven months of the year is as follows:

. Domestic Borrowing (Net) Redemption (Trillion TL)

. ------------------------ -------------------------
Jan 3.202 3.899

Feb 3.087 4.346

Mar 2.461 3.462

Apr 3.737 4.650

May 3.768 4.587

June 1.389 2.198

July 1.490 2.044

August 2000 Redemption Schedule: Principal and interest payments are shown below for August: (TL Billion)

.Date Principal Interest Total

----- --------- -------- --------
August 9, 2000 2,881 3,003 5,884

August 13, 2000 0,0 69,400 69,400

August 16, 2000 688,000 492,566 1,180,566

August 23, 2000 1,881,470 2,367,080 4,248,550

August 25, 2000 77,568 2,327 79,895

Accordingly, the total domestic debt service will be 5,584,295 billion TL in August, comprising 2,649,919 billion TL of principal repayments and 2, 934,376 billion TL of interest payments.

Foreign Borrowing: On July 13, 2000, the Undersecretariat of Treasury tapped the market with a 533 million EU seven year bond issue. The deal reopened a 1.5 billion DM issue launched in 1997, creating a redenominated 1.3 billion EU benchmark issue. Due October 22, 2007, the deal pays a coupon of 8.125 percent.

On July 19, 2000, Treasury reopened its USD Global Deal due 2009 by 500 million U.S. dollars. The original deal which was launched on June 18, 1999 with a coupon rate of 12.375 percent and size of 500 million U.S. dollars was reopened by 250 million U.S. dollars on December 8, 1999 for the first time. With the second reopening, the deal was increased to 1.25 billion U.S. dollars benchmark size.

Hence, a total of 6.1 billion U.S. dollars has been borrowed from international capital markets since the beginning of the year.

CPI and WPI have increased by 2.2 percent and 1.0 percent, respectively, in July. Private manufacturing industry prices have risen by 1.9 percent in July compared to June. On an annual basis CPI and WPI have declined to 56.2 percent and 52.3 percent, respectively, in July from 58.6 percent and 56.8 percent, respectively, in June 1999.

Balance of Payments Foreign Trade; In May, compared to last year’s figures for the same period, exports have declined to 2.176 million U.S: dollars with a decrease of 2.2 percent.

Imports have reached 4.648 million U.S. dollars with an increase of 36.3 percent.

In the January-May period, exports and imports have reached 11.168 U.S. dollars and 20.370 U.S. dollars, respectively. Compared to last year’s figures for the same period exports and imports rose by 4.8 percent and 37.6 percent, respectively.

Import coverage ratio in May 2000 contracted to 46.8 percent from 65.3 percent in the same month of 1999. For the January-May period this ratio was 54.8 percent in comparison to last year's ratio of 72 percent in the same period. The foreign trade deficit has jumped to 9.202 million U.S. dollars, compared to last year’s figure of 4.145 million U.S. dollars, registering an increase of 122 percent in the first five months.

In the composition of exports, compared to May 1999, consumption goods amounting to 1.008 million U.S. dollars had a share of 46.3 percent. Intermediary goods amounting to 988 million U.S. dollars and capital goods amounting to 174 million U.S. dollars have shares of 45.4 percent and 8.0 percent, respectively.

In the January-May period, the share of intermediary goods, consumption goods and capital goods were 43 percent, 49.1 percent and 7.8 percent, respectively.

The increases in import subcategories against the figures of May 1999 were 33 percent, 80 percent and 27 percent for intermediary goods, consumption goods and capital goods respectively. In May, intermediary goods registered a share of 63.9 percent in total imports, whereas capital goods imports had a share of 19.6 percent and consumption goods stood at 16.3 percent.

For the January-May period, the increase in intermediary goods registered 39 percent while capital goods and consumption goods imports rose by 24 percent and 30 percent, respectively.

In this period the share of intermediary goods, capital goods and consumption goods in total imports was 67.1 percent, 19.7 percent and 12.8 percent, respectively.

Current Account; In the January-April period the shuttle trade receipts increased by 49.3 percent while exports revenues and expenditures on imports rose by 2.5 percent and 37.2 percent, respectively.

Thus, whilst registering a surplus of 562 million U.S. dollars in the first four months of 1999, current account has registered a deficit amounting to 3.544 million U.S. dollars in the same period of 2000.

In addition, net receipts from other goods and services and unrequited transfers have decreased by 11.5 percent and stood at 2.217 million U.S. dollars in January-April period of 2000.

Tourism revenues increased by 34.4 percent in this period against the figure for the last year and reached 1.157 million U.S. dollars.

In the January-May period, the current account deficit realized at 4.450 million U.S. dollars in comparison with the surplus of 431 million U.S. dollars for the same period of last year. In the first five months of the year, shuttle trade, exports revenues and expenses on imports rose by 46.3 percent, 4.8 percent and 37.6 percent, respectively.

Net receipts from other goods and services and unrequited transfers have decreased by 2.6 percent and stood at 3.210 million U.S. dollars in this period.

[18] STATE MINISTER RECEP ONAL STAGES PRESS BRIEFING (2) -EXISTING LEVEL OF THE INFLATION FIGURES REVEALS THAT INFLATION TENDENCY COULD NOT BE BROKEN ADEQUATELY

Onal staged a news conference to brief about the economic developments which occurred in the first half of this year.

Pointing out that 2.2 percent increase in Consumer Prices Index (CPI) in July should be focused on, Onal said the tendency for price increases continued in sectors where irregular rivalry conditions are valid.

Onal said high rate price increases which were made not to miss the last opportunity were influential on rapid increases on consumer prices. Onal also said inflation target of the program was not monthly, but annually.

''Monthly price changes are influenced by outside elements and natural and seasonal domestic developments,'' Onal noted.

Stressing that breaking the psychology related with the expectations was the most important element that will lead to success in struggle against 25- year chronical inflation, ''we all should get used to live with the thought of living together with low inflation.''

Onal said nobody should be pessimistic as we reach to our three month inflation targets slower than expected, adding that reaching single digit inflation targets after the completion of the program in 2002 would be the biggest hapiness for Turkish people.

Onal said they would carry out the program without making concession. Onal also wanted citizens to be careful in savings, ''this time, we should absolutely get rid of the inflation,'' he noted.

[19] TRANSPORTATION MINISTER OKSUZ LEAVES FOR RUSSIA

Addressing journalists at the Ataturk Airport in Istanbul prior to his departure, Oksuz said that a number of Turkish companies would take part in the fairs.

Oksuz noted that he was scheduled to meet with his Russian counterpart during his visit to Russia.

He told reporters that the meeting would focus on the land transportation and problems of Turkish lorry drivers at border points between Turkey and Russia.

[20] CAMPAIGN TO COMMEMORATE QUAKE VICTIMS

The August 17 Activities Working Group formed by 40 non-governmental organizations, will launch a campaign under the title of ''Turkey, Do Not Sleep Because I Do Not Sleep'' to mark the first anniversary of quake disaster which devastated Marmara Region on August 17, 1999.

The Group called all everyone to wear in black and to hang black flags to their houses and vehicles.

[21] ISRAELI PUBLIC SECURITY MINISTER BEN AMI DUE IN TURKEY

Releasing a statement, the Foreign Ministry said on Wednesday that Ben Ami would pay a visit to Turkey as the special representative of Israeli Prime Minister Ehud Barak.

Ben Ami would be received by Prime Minister Bulent Ecevit.

He is also scheduled to meet with Foreign Minister Ismail Cem.

Ben Ami will inform Ecevit and Cem on the issues taken up at Camp David Summit, Israel's attitude, and possible developments in the future.

[22] EXORTION CASE OF AGCA -MEHMET ALI AGCA WANTED THE ISSUES FROM WHICH HE WOULD BE TRIED, TO BE CLARIFIED

Agca, who spoke at the hearing, said, ''I have come here on my own will. Justice Minister said I could be tried only on Fruko soda incident, and that permission should be taken from Italy for the others. I want my legal position to be illuminated.''

Sevki Lulecioglu, the lawyer of Agca, defended that his client should not be tried on robbery of a jewellery under the extradition agreement signed between Turkey and Italy.

Meanwhile, Ertan Erbay, the Republican Prosecutor, when asked about the demands of the defendant and the lawyers of the defendant, said the defendant was under trial regarding extortion of a taxi, robbery of a soda depot, and robbery of a jewellery.

Erbay said required permission could be taken from the Italian legal authorities regarding the robbery of a jewellery during the course of the case.

The court delegation, who shared the views of the prosecutor, listened to the views of the witness Yakup Altinbas.

Altinbas said he was working as an apprentice when the robbery took place, adding that, ''when I went to the shop in the morning, I saw a person, having a gun in his hand, sitting on the chair. There was not robbery panic. They made me to stay downstairs. I don't remember if the person sitting on the chair was Agca or not.''

Agca did not accept the accusations and said ''he resembled me. There are nearly 50 similar accusations.''

Huseyin Gursoy, the other witness, pointed out that he was working as a driver in Fruko soda factory, adding that, ''at the date of the incident, I brought money to the accountancy department. When I was about to go outside, the door opened on my face, and I did not see anybody. Later, I learned that an armed person entered in the factory. I did not see Agca there.''

When Gursoy was recalled that during his interrogation in police department in 1979 he had said he saw the person and that he briefed about the details, Gursoy said his testimony was not correct.

The court delegation decided to keep Agca under arrest, and adjourned the hearing to listen the other witnesses.

The court files against Agca were also combined, and he was charged with three separate crimes.

These are exortion of a taxi, belonging to Cengiz Aydos, on April 3, 1979, money exortion from the Fruko Soda Factory on April 4, 1979, and robbery of Yildirim Jewellery in Kiziltoprak district on March 22, 1979.

Up to 60 years of imprisonment sentence is expected to be called for Agca regarding these three incidents.

[23] TOURISTIC EXCURSIONS FROM MARMARIS TO RHODES TO START ON AUGUST 13

Excursions from southern Antalya province to Rhodes started on August 1.

One-day touristic excursion from Marmaris to Rhodes will start at 09:00 a.m. on Sundays. Travel costs 45 U.S. dollars per person.

[24] ANOTHER MOSAIC UNEARTHED FROM ZEUGMA

The mosaic, that is 3x4 meters in size, was found in Belkis Zeugma ancient city by the French excavation team, and it was determined that it was made by a mosaic craftsman named Zasimaz. A similar mosaic of the same person was unearthed last week.

The Roman period mosaic includes mythological figures. In the surrounding figures of the mosaic, there are the bust of Rivers God Akheloos and busts representing fertility.

It was reported that the mosaic, which included Synarlstosat (theatre figure), will be searched comprehensively, and will be understood what it symbolizes.

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