Athens News Agency: News in English (AM), 97-10-08

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

NEWS IN ENGLISH

Athens, Greece, 08/10/1997 (ANA)

MAIN HEADLINES

• Partial privatisation of utilities expected
• Dutch royal couple begin state visit
• EuroMed Industrial Conference concluded
• Greece reiterates support for closer EU-Albania ties
• Schengen Pact partially in force as of Dec. 1
• President to attend CoE summit
• New programme to highlight country's monuments
• Preveza hosts World Astrophysics Conference
• National Bank-Microsoft software deal finalised
• EBEA conference on trade prospects with Latin America opens
• Profit taking halts prices rally
• Greece-FYROM trade on the rise
• Road fatalities fall in EU except Greece
• Intralot renews contract with Romanian state organisation
• Awarding of bourses' computerisation project
• Weather
• Foreign exchange

NEWS IN DETAIL

Greek National Economy Minister Yiannos Papantoniou signalled the privatisation of a large part of public utilities in a process modelled on Hellenic Telecommunications Organisation's flotation.

Speaking at a confererence on the course of the Greek economy in Lamia on Monday night, Mr. Papantoniou said that the government would soon issue a statement on the flotation of public utility enterprises followed by a procedure of mergers and abolition of state organisations.

He pledged that there would be no lay-offs in the process of state rationalisation.

Mr. Papantoniou stressed that the government remained firm in its effort to boost employment and through the adaptation of a more flexible labour market.

Referring to the course of the economy, Mr. Papantoniou said that a decline in the inflation rate was a significant factor paving the way for further interest rate cuts in 1998.

Dutch royal couple begin state visit

Queen Beatrix and Prince Klaus of the Netherlands yesterday begun a three- day official visit at the invitation of President of the Republic Kostis Stephanopoulos.

Queen Beatrix and Prince Klaus are the first royal couple to officially visit Greece since 1968, when King Baudouin of Belgium paid a similar visit. The couple were given a warm welcome by Mr. Stephanopoulos and the government.

At a dinner held in honour of the royal couple at the Presidential Mansion, Mr. Stephanopoulos stressed Greece's devotion to peace and cooperation with its neighbours and its appreciation of the Netherland's support against the seven-year military junta that ruled Greece between 1967-74.

The president gave an overview of Greece's concerns in the international scene, with special mention of the Cyprus issue, while he noted the importance of respecting borders in Europe.

In her speech, Queen Beatrix focused on ancient Greek civilisation, saying that all of western European culture is a reminder of ancient Greek achievements, and recalled the contribution of the late culture minister Melina Mercouri to the idea of the European Cultural Capital.

Despite occasional differences within the European Union fold, she said, both countries make an effort to show understanding for each other.

Today, the royal couple are expected to visit Meteora, the Athens 2004 bid committee's headquarters at Zappeion Hall, the Hellenic Navy officers' club in Piraeus and city hall, before attending a concert at the Athens Music Hall (Megaro).

EuroMed Industrial Conference concluded

The 3rd Euro-Mediterranean Industrial Conference, organised by the Federation of Greek Industries (SEB) in cooperation with the development ministry, the European Commission and the Union of Industrial and Employers' Federations of Europe, was concluded in Vouliagmeni yesterday.

SEB President Iason Stratos presented the text of the final Athens Declaration, which he and his colleagues from European and Mediterranean countries will present at a political level at the 2nd Euro-Mediterranean Ministerial Session on Industrial Cooperation in Marakesh at the end of the month.

In this way, the cooperation process in the Mediterranean basin, inaugurated at the 1st Euro-Mediterranean industry minister's conference in Brussels in May, will continue.

The declaration said "in Athens the industrial federations confirmed the great importance they attribute to peace and stability for the achievement of the target of economic cooperation and their commitment to play a vital role in the Mediterranean's de velopment into an area of prosperity and cooperation."

The primary target set is the development of a Free Trade Zone (by 2010) between the countries of the northern and southern Mediterranean and in this framework reference is made to the need to promote a regulatory framework favouring trade and investmen ts in all countries.

On the question of investments in particular, an appeal is made to investors in developed European countries to transfer capital to the south.

It was decided during the Athens conference that Euro-Mediterranean industrial organisations must make their next rendezvouz in Tunis at the end of 1998 or in early 1999, in accordance with developments taking place in the meantime. It was further agreed that the next conferences will take place in Turkey and then in Egypt.

Greece reiterates support for closer EU-Albania ties

Alternate Foreign Minister George Papandreou said during an EU General Affairs Council meeting here yesterday that the Union should offer continuous financial assistance to Albania.

Mr. Papandreou called for a reinforcement of Albania's efforts to establish democratic institutions and ensure growth, adding that a scheduled "International Convention on Albania", due to be held in Rome on Oct. 18, "must achieve its goals."

Greece has already granted over the past three months 2.5 billion drachmas in financial assistance to Albania. Athens will also extend to Tirana a low- interest loan of 18 billion drachmas.

Mr. Papandreou also stressed that EU-Albanian relations should be reinforced and upgraded, while he further supported a resumption of political dialogue between Albania and the European Union as well as an EU- Albania cooperation agreement of preferential status.

"The Greek government believes that closer ties between Albania and the European Union will reinforce efforts for a European integration and economic cooperation in the broader European economic region," Mr. Papandreou said.

Schengen Pact partially in force as of Dec. 1

The Schengen Pact will partially come into force in Greece on Dec. 1, 1997, the treaty's executive committee decided yesterday following marathon negotiations.

According to the decision, on the above date Greece will start having access to the pact's computer data bank in Strasbourg and will start applying the stipulated policy on passport visas.

In the second half of 1998, the executive committee will decide on the abolition of internal border controls by Greece.

The application of the pact by Greece has to be approved by France and The Netherlands.

Meanwhile, the Greek foreign ministry's Secretary General for EU Affairs, Stelios Perrakis, who attended yesterday's session, stressed that it was Greece's intention to strengthen its cooperation with all other countries, and would keep all its obligat ions.

He described Dutch reservations as a constitutional problem in that country.

Yesterday's decision for Greece is in suspension for two months, according to article 132 of the Pact, which was invoked by the Dutch delegation due to specific constitutional problems requiring approval by the Dutch parliament.

In the text of the decision, the executive committee takes into account that Greece has made serious efforts to apply as soon as possible all controls at airports and external borders.

President to attend CoE summit

President of the Republic Kostis Stephanopoulos will represent Greece at the Council of Europe summit beginning on Friday.

He will leave Greece tomorrow evening and return on Saturday.

Mr. Stephanopoulos will address the plenary session and attend a luncheon hosted by French President Jacques Chirac.

New programme to highlight country's monuments

"Light on Culture" is the title of a programme aimed at highlighting the country's ancient and more recent monuments, announced yesterday by Culture Minister Evangelos Venizelos and Development Minister Vasso Papandreou.

The programme, organised in cooperation with regional authorities and the Public Power Corporation (DEH), includes the ancient monuments in Delphi, Edessa, the Justinian Wall in Kastoria, the castles of Ioannina, Ayia Mavra on the island of Lefkada,and ancient Corinth.

DEH has undertaken to carry out both the preliminary studies and the construction using its own resources, to administer the projects for the first six months of operation and to publish a collection of photographs of all the monuments, to be distributed free of charge.

Preveza hosts World Astrophysics Conference

The World Astrophysics Conference began yesterday in Preveza, northwestern Greece, with the participation of scientists from the United States, Europe, Asia and other countries.

The conference has been organised by Ioannina University within the framework of a series of international conferences being financed by the European Union and ministries of education and culture and the General Secretariat for Research and Technology. During the conference, which will be focusing on issues related to the sun, many of the findings of research carried out by the European satellite SOHO will be announced. The conference will end on Sunday.

National Bank-Microsoft software deal finalised

The National Bank of Greece and the giant US-based Microsoft Corp. announced an agreement yesterday by which Greece's largest banking group will apply Microsoft software at all National Bank branch offices and central services.

In the framework of its modernisation programme, National Bank will upgrade all computerised equipment at its branch offices and central offices.

National Bank Governor Theodoros Karatzas said the bank is building the computer infrastructure necessary for the next century.

EBEA conference on trade prospects with Latin America opens

Trade and economic relations between Greece and Latin American countries, although strengthened since the '80s, do not correspond to potential and opportunities appearing, particularly in the wake of developments taking place in these countries.

This was stressed by National Economy Undersecretary Alekos Baltas yesterday, as he inaugurated a two-day conference on "Greek Businesses Discovering Latin America", organised by the Athens Chamber of Commerce and Industry (EBEA).

Mr. Baltas said Latin American countries are experiencing speedy economic growth, due both to the consolidation of economic reforms and the strengthening of political stability. He added that the European Union constitutes the first trade partner for ei ght of the 12 countries in the region. Mr. Baltas focused on the potential for business cooperation between Greece and Latin American countries in the creation of joint enterprises, privatisations and industrial restructuring programmes in those countries .

Profit taking halts prices rally

Greek equities came under profit-taking pressure yesterday to end slightly lower on the Athens Stock Exchange, a normal correction after the market's recent rally to record levels.

The general index closed 0.26 percent lower at 1,775.06 points but traders predicted that the market would resume its upward trend following a decision by National Bank of Greece to lower short-term interest rates.

Sector indices ended mixed. Banks rose 0.07 percent, Insurance increased 0.12 percent, Leasing was 2.33 percent higher, Investment ended 0.12 percent up, Construction fell 1.99 percent, Industrial eased 0.92 percent, Miscellaneous dropped 0.60 percent a nd Holding rose 0.93 percent.

The parallel market index for small cap companies ended 1.29 percent down.

Trading was heavy and turnover was 27.7 billion drachmas.

Broadly, declining issues led advancing ones by 125 to 91 with another 27 issues unchanged.

St. George Mills, Intertek, Mailis, Interinvest scored the biggest percentage gains while Medical Centre, Zampa, Chalyps and Koumbas suffered the heaviest losses.

National Bank of Greece ended at 33,060 drachmas, Ergobank at 19,700, Alpha Credit at 20,450, Delta Dairy at 4,245, Titan Cement at 16,820, Intracom at 14,900 and Hellenic Telecommunications Organisation at 6,875.

In the domestic foreign exchange market the US dollar ended slightly lower against the drachma.

Greece-FYROM trade on the rise

Greece-FYROM trade is steadily improving according to figures for the first half of 1997.

Greek exports to the Former Yugoslav Republic of Macedonia totalled 73.128 million US dollars in the period January-June, while FYROM's exports to Greece totalled 46.402 million.

Total exports in 1996 were 77.429 million and 102.409 million respectively.

Greece is currently FYROM's third biggest trade partner with bilateral trade accounting for 8.8 percent of the neighbouring country's trade, after the Federal Republic of Yugoslavia with 16 percent and Germany with 13.7 percent.

Greek companies have been highly active in investing in Skopje.

The Levendis group (Hellenic Bottling Co) has signed an agreement worth eight million US dollars for the production and distribution of refreshments and mineral water with state firm Scopsko.

Delta Dairy has agreed on a joint venture with Rivara Scopsko for the production and distribution of ice-cream in FYROM, worth 3.5 million DMarks.

Mytilineos has paid 22 million US dollars for exploitation of FYROM's total production in zinc and lead.

Mamidoil (JETOIL) has remained the exclusive supplier of crude oil to FYROM's state refinery OKTA since 1964.

Greek banks have recently showed interest in investing in Skopje, spearheaded by Ionian Bank, while Titan Cement has expressed interest in acquiring a majority stake in FYROM's privatised state cement producer.

Road fatalities fall in EU except Greece

Road fatalities have declined over the last few years in all European Union member-states except Greece, according to figures released by the French records centre CDIA.

The United Kingdom and Sweden had the safest roads with 146 and 147 deaths per million vehicles respectively, while Greece showed the highest rate with 689 deaths per million.

Italy (198 deaths), the Netherlands (203), Finland (205), Germany (222), Austria (286), Luxembourg (294), France (296), Denmark (303), Spain (316), Belgium (370), Ireland (401) and Portugal (630) followed the two leading states.

Intralot renews contract with Romanian state organisation

Longterm cooperation between Athens-based Intralot and the Romanian Organisation of Lottery Games (RALN) has been sealed by renewal of a relevant contract between the two for two more years.

The contract, amounting to 1.2 billion drachmas, includes procurement, marketing and rendering of advisory services for the management of instant lottery games in Romania.

It has been assessed that sales of instant lotteries in Romania will increase over the next two years.

Awarding of bourse's computerisation project

The Athens Stock Exchange's computerisation project, named "Integrated Automatic Electronic Transactions System" (OASHS) and budgeted at two billion drachmas, is entering the awarding stage.

The bourse's board is expected to award the project to a joint venture headed by the Infoquest firm, during its meeting tomorrow.

The project concerns the upgrading of the existing computerisation system at the Athens Stock Exchange and the development of suitable infrastructure for the management of new bourse products.

Three other joint ventures, Delta Informatics-Unisys, Bull and Altec-IBM- EFA participated in the tendering.

WEATHER

FOREIGN EXCHANGE

(C.E.)

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