Athens News Agency: News in English (PM), 99-08-31

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

NEWS IN ENGLISH

Athens, Greece, 31/08/1999 (ANA)

MAIN HEADLINES

• EU Balkans chief Hombach in Athens
• Simitis meets with Montenegrin president
• Arson attack on bus linked to university asylum
• Five foreigners arrested in drugs haul
• Profit-taking slows six-day rally on ASE
• Papandreou begins meetings on EU financing of Turkey
• Concert given in Xanthi for Turkey quake victims
• Agricultural Bank gets Duty Free Shops shares for resale
• Forthnet completes share cap rise for bourse entry
• Weather
• Foreign Exchange

NEWS IN DETAIL

The European Union's coordinator for the Balkan stability pact, Bodo Hombach, said on Tuesday that Greece could provide him with valuable assistance in his task because of the country's long experience in the region. Hombach, accompanied by Foreign Minister George Papandreou, was speaking to reporters after talks with Prime Minister Costas Simitis. "Greece can considerably assist me in my task because it has long historical experience in the Balkans, knows all the details, is a country which is well liked by the Balkan peoples, is familiar with their way of thinking and this knowledge is very important," Hombach said.

Simitis meets with Montenegrin president

Prime Minister Costas Simitis today held a meeting with visiting Montenegrin President Milo Djukanovic, focusing on developments in the Balkans and Montenegrin-Serbian relations. Simitis stressed that Greece supported Montenegro's efforts for economic development and placed particular emphasis on bilateral economic cooperation.

Arson attack on bus linked to university asylum

A group of youths early on Tuesday fire-bombed a mini-bus belonging to the University of Thessaloniki in an apparent protest against the university's decision to restrict entry to the university's ground. University rector Michalis Papadopoulos told reporters that the bus was attacked overnight by a group of young men and women who broke the windows and threw between four and five firebombs into the vehicle. The university has recently taken a ground-breaking decision to limit entry to university grounds to curb incidents of violence committed by non-students as well as to regulate the entry and commercial activity of unlicenced stallholders selling bootleg CDs, cassettes and textbooks.

Five foreigners arrested in drugs haul

The police on Tuesday released the names of five foreigners arrested in possession of 345 kilos of marijuana in an operation near the centre of Athens during which shots were fired. The five were named as Nikos and Spyros Papa, 30 and 23, Lefteri Bando, 19, all Albanians and Iraqis Emant Tselepi and Iso Mansour, 44 and 32 respectively. They were arrested in the Athens district of Petralona on Monday. Two of the Albanians tried to escape but were caught after the police fired warning shots in the air. According to the police, the marijuana had been smuggled into Greece from Albania.

Profit-taking slows six-day rally on ASE

Equity prices ended Tuesday's session moderately lower reflecting weakness in the banking sector and despite persistent high liquidity in the market. The general index ended 0.29 percent lower at 5,205.34 points, sharply off the day's lows of 5,154 points. Blue chip stocks came under strong profit- taking. Construction stocks were particularly hit following a six-day rally which pushed the sector index 30 percent higher. Dealers said high liquidity excluded any possible sharp correction in the market and that only an external factor was capable to change the market's underline trend. Turnover was a massive 519.474 billion drachmas with 71,190,273 shares changing hands, It reflected the transfer of a block of Dyty Free Shop's 9, 433,962 shares at 5,300 drachmas each to Agricultural Bank of Greece.

Papandreou begins meetings on EU financing of Turkey

Foreign Minister George Papandreou yesterday kicked off a series of contacts with political leaders and ruling PASOK party cadres, to discuss Greece's stance on European Union financing to Turkey, by meeting former PASOK foreign ministers Karolos Papoulias and Ioannis Haralambopoulos. Following the meeting, Mr. Papoulias expressed his satisfaction over Mr. Papandreou's leading efforts in providing support for Turkey following the disastrous earthquake.

Concert given in Xanthi for Turkey quake victims

Musicians George Dalaras and Thanasis Gayfillias yesterday gave a large concert in Xanthi, northern Greece, for the victims of the recent devastating earthquake in Turkey. All the proceeds from the concert, which was held in both Greek and Turkish, will be handed over on September 17 in a way to be indicated by the Turkish authorities, along with the proceeds from a similar concert to be held in Izmit. All musicians performed for free at the concert, which was broadcast by Turkish television channels and radio stations.

Agricultural Bank gets Duty Free Shops shares for resale

Agricultural Bank of Greece is to buy 23 million shares in Hellenic Duty Free Shops for 126.6 billion drachmas ahead of resale to unnamed investors and the allocation of management to the same group. "The Agricultural Bank of Greece is committed to proceeding with the immediate sale of a block or blocks of shares to a group of investors and allocating management of the company to the same investors under terms and agreements it will negotiate, " the finance ministry said in a statement yesterday. The move follows abortive tenders for the sale of Hellenic Duty Free Shops, which is listed on the Athens Stock Exchange.

Forthnet completes share cap rise for bourse entry

Forthnet, which is expected to be the first Internet provider to enter the Athens bourse, has successfully completed a 20 percent increase of its share capital, the company said yesterday. It said in a statement that shareholders' equity now totalled 4.6 billion drachmas. Taking part in the increase with a 12 percent stake was the Interamerican Group. The remainder went to staff and associates of the company. Also holding equity in Forthnet are Minoan Lines, the Research and Technology Institute and the Cyprus Development Bank.

WEATHER

FOREIGN EXCHANGE

Tuesday's rates (buying)

(M.P.)

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