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Athens News Agency: News in English (AM), 99-09-29Athens News Agency: News in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr>NEWS IN ENGLISHATHENS, GREECE, 29/09/1999 (ANA)MAIN HEADLINES
NEWS IN DETAILHope for Cyprus breakthrough prior to Clinton-Ecevit talksUS President Bill Clinton stressed in Washington yesterday that talks with visiting Turkish Prime Minister Bulent Ecevit would hopefully contribute to a resumption of intercommunal talks on the Cyprus issue. "What we've been working for all along is the resumption of UN-sponsored talks (on Cyprus) without preconditions, and we hope that somehow we can find a way to get there," he told reporters during the reception of Mr. Ecevit at the Oval Office. Other issues on the agenda would include issues related to the devastating earthquake in Turkey on Aug. 17, the Cyprus issue, an improvement of Greek- Turkish relations, Turkey's European prospects, human rights, and Turkey's economic restructuring. The US president also said he was satisfied with the progress recorded in recent weeks in relations between Greece and Turkey. Regarding Turkey's relations with the EU, Mr. Clinton noted a certain progress, with a change of attitudes in some European capitals. He expressed a view that "the moves which have been made for an improvement of Greek-Turkish relations have helped, and I believe greater mobility in these directions will eventually get to the result that Turkey wants". Greece pessimistic over chance for Cyprus progress Athens noted yesterday that recent statements by Mr. Ecevit did not allow optimism on the prospects of resolving the protracted Cyprus problem. Government spokesman Dimitris Reppas said that the government was "pessimistic" about progress on the issue in the near future after the press reported of Mr. Ecevit stating that progress on the Cyprus issue was a "chimera", if Greece and Turkey did not first sit down to discuss problems in the Aegean. "It doesn't allow for any optimism," Mr. Reppas said. "It indicates Turkey is sticking to its old positions". The key to resolving the dispute, he said, lies with Turkey, while he expressed a hope that the international community could exert pressure on Turkey to move forward on Cyprus. State telecom okays Dr 780 bln investment plan The board of Hellenic Telecommunications Organisation (OTE), a heavily traded stock on the Athens bourse, yesterday approved an investment plan for 2000-2022 worth 780 billion drachmas. Under the programme, state-controlled OTE will develop its infrastructure, services and technology. Among the corporation's plans are to digitalise up to 97 percent of its network and up to 100 percent of network links. It also intends to continue the introduction of value added services and modernise its access network, chiefly in areas with a high density of businesses. Stocks rebound but uncertainty remains Equities jumped yesterday following a slump over several sessions with sentiment improving on central bank measures to encourage share buying, the closure of open positions, and buying by banking portfolios that helped to drive up the index. The general index ended 5.83 percent higher at 5,591.28 points. Despite the market's rise, which was led by the heavily weighted banking sector, analysts declined to forecast the short-term outlook after a steep rise and sharp drop followed by yesterday's rebound. Sector indices ended as follows: Banking (+7.29 pct), Construction (+3.19 pct), Insurance (+6.25 pct), Miscellaneous (+3.82 pct), Leasing (+5.92 pct), Investment (+0.39 pct), Industrials (+5.20 pct) and Holding (+6.57 pct). The parallel market index for smaller capitalisation stocks dropped 2.02 percent while the FTSE/ASE 20 index for blue chips and heavily traded stocks gained 9.85 percent to finish at 2,991.66 points. National Bank of Greece ended at 25,700 drachmas, Commercial Bank at 28,940, Alpha Credit Bank at 25,100, Minoan Lines at 7,500, Intracom (common) at 27, 000, Titan Cement (common) at 36,200, Hellenic Petroleum at 6,145, Hellenic Telecommmunications Organisation at 7,075 and Panafon at 8,605 drachmas. Greece, Ukraine widen transport links Transport and Communications Minister Tassos Mantelis and his visiting Ukrainian counterpart, Ivan Dankevic, yesterday agreed to step up cooperation in their sector. The two countries are to increase the number of free truck transit permits to 2,000 annually from 1,150. The Ukrainian side welcomed a Greek proposal that a coordinating committee should be set up by the two countries to develop overland and rail links between Alexandroupoli, Odessa, Kiev and Helsinki. Syros shipyard gets OK for IPO The capital market commission yesterday endorsed an application by Neorion New Syros Shiyard SA for entry into the Athens bourse's parallel market for smaller capitalisation shares. The company plans to raise its share capital and hold an initial public offer. Red tape eased for earthquake donors Donors of more than 100,000 drachmas in aid for victims of the September 7 earthquake in Athens will be exempted from paying a 20 percent witholding tax and obtaining proof from tax offices. The measure, introduced by Deputy Finance Minister George Drys, applies retroactively from September 10. The bank that receives the donation will withold the tax, which is then to be deducted from the donor's income, bypassing the need for a statement from the tax office that the cash was deposited. Greek per capita GDP lowest in EU Greek per capita income as a proportion of gross domestic product is the lowest in the European Union, representing 68 percent of the 15-nation bloc's average, according to an EU survey released yesterday. Per capita GDP in Greece is roughly equal to that of Slovenia, at 67 percent of the EU average, and the Czech Republic, at 65 percent of the average, said Eurostat's survey, which includes the 10 eastern and central European countries being considered for EU entry. The region in the EU's member states with the lowest per capita GDP is Epirus at 44 percent of the EU average. Commercial Bank of Greece seeks alliance State-controlled Commercial Bank of Greece is seeking a strategic alliance with a major European bank that will help it to take advantage of business opportunities after the country's entry into the euro zone, expected on January 1, 2001. Commercial Bank governor Konstantinos Georgoutsakos told a news conference in Thessaloniki that the procedures were being completed for the selection of an international consultant to find a partner bank and help draft the final alliance contract. Among Commercial's plans were to purchase a branch belonging to its former subsidiary Ionian Bank in London and widen its activities; expand its presence in Cyprus through the creation of units in Nicosia and Paphos; and upgrade operations at its German subsidiary. Mr. Georgoutsakos said the bank's January to September profits were estimated at 50 billion drachmas from 15 billion drachmas in the same nine- month period of 1998, up 240 percent. White House unveils Clinton itinerary for visit to region The White House yesterday officially announced the itinerary for US President Bill Clinton's visit to Greece between Nov. 22-24. Mr. Clinton will also visit Turkey, Bulgaria and Italy during his tour, beginning with Sofia. He will then travel to Ankara for bilateral contacts with the Turkish government and afterwards to Istanbul to attend an OSCE summit. The US president will make his next stop in Italy to attend the conference of the so-called "third path" group, organised by Italian Prime Minister Massimo D'Alema on Nov. 21-22. Finally, Mr. Clinton will conclude his tour of the region with a visit to Greece. Berlin officially announces Schroeder visit to Athens The German government yesterday officially announced that Chancellor Gerhard Schroeder will visit Greece on Oct. 4 and 5. Mr. Schroeder will meet with President Kostis Stephanopoulos and Prime Minister Costas Simitis, with whom he will discuss a wide range of European issues, government spokesman Uwe-Karsten Heye said. Greece's drive to join the Economic and Monetary Union and relations between the EU and countries of SE Europe will also be on the agenda, he added. The visit is in the framework of events marking the 75th anniversay of the founding of the Greek-German Chamber of Commerce and Industry in Athens. "Germany has long been Greece's most important trading partner," Mr. Heye added. To the "Daily Bulletin" subscribers Dear friends, As you are aware, technological developments in the mass media sector are rapid. Today, all the news services are offered online. The "electronic newspaper" supplements, and in many cases replaces, the printed newspaper. Contact via e-mail also affords the ability for direct communication. These developments, as many others, have also influenced our own work here at Athens News Agency (ANA), which is adapting all its services to the new technology. In the framework of these changes, the "Daily Bulletin" will - as of Jan. 2, 2000 - be conv erted from a printed to an electronic medium for our subscribers. With this change, our subscribers will: a) receive our news items online, at the moment the news is breaking. b) receive the next day's "Daily Bulletin" on their screens at midnight, with the ability to print it out if they wish or simply view on screen. c) receive the "Bulletin" either via the paid ANA services on the Internet, or via e-mail sent to a subscriber's e-mail address. d) also have the ability, for a small surcharge, to utilise the ANA's English-language data bank, which contains all the news items appearing in the "Daily Bulletin" since 1992. We believe that these changes, which correspond with the new function of the international and national news agencies, will satisfy subscribers' needs for immediate and credible information. In order to subscribe to this service, you must have a PC and a modem, or an e-mail address. All who wish to continue receiving our services must prepare for these changes which, as stated, will commence on Jan. 2, 2000. Takis Mantis, the director of ANA's informatics and telecommunications department, is at your disposal for any technical information on tel: 64.00.560 and 64.00.038. I sincerely hope all our subscribers will adapt to these necessary technological changes. Andreas Christodoulides A General Director Athens News Agency Gov't: Earthquake rumours 'rubbish' Deputy Public Works Minister Christos Verelis yesterday dismissed rumours of an earthquake predicted for next month as simply "rubbish". "Our position is that earthquake prediction is impossible. If any earthquake takes place, it will be completely non-predictable, as with all earthquakes," he said. Regarding scientific data produced by the controversial VAN team of seismic researchers, he said such information was not useful in practice. On Monday, Minister Costas Laliotis dismissed a letter regarding such data from the team. An earthquake measuring 5.9 on the Richter scale, with an epicentre NW of Athens, on Sept. 7, killed more than 140 people. Dec. 31 a holiday throughout entire financial sector Dec. 31, 1999 will be a bank holiday for the Bank of Greece, the Athens Stock Exchange, the Central Values Repository, the Derivatives Bourse, the Transactions Settlement Co., as well as the credit institutions and branch offices of foreign banks, busines ses providing investment services, financing S.A. companies and mutual funds S.A. companies. The above decision will be regulated through a relevant amendment which has been tabled in Parliament to handle possible prob-lems which could be created in Greece and abroad in electronic systems due to the so-called "millen-nium bug." Olympiakos tops Norway's Molde Olympiakos Piraeus last night beat Norway's Molde FK 3-1 at Athens' Olympic Stadium, in a match for Group E of the European Champions League. Scorers: Olympiakos: Giovanni 15, 69, Luciano 77 Molde: Lund 58. WEATHEROvercast weather will prevail in most parts of Greece today with local rainstorms in the northern Ionian Sea, Epirus, western central Greece and western Macedonia. Winds variable, light to moderate. Partly cloudy in Athens with temperatures from 20-33C. Same in Thessaloniki with possible rain in the afternoon and temperatures from 17-30C.FOREIGN EXCHANGEWednesday's rates (buying) U.S. dollar 310.377 Pound sterling 511.634 Japanese yen (100) 292.015 French franc 49.588 German mark 166.312 Italian lira (100) 16.800 Irish Punt 413.016 Belgian franc 8.063 Finnish mark 54.708 Dutch guilder 147.605 Danish kr. 43.787 Austrian sch. 23.638 Spanish peseta 1.955 Swedish kr. 37.718 Norwegian kr. 39.805 Swiss franc 202.864 Port. Escudo 1.623 Can. dollar 212.010 Aus. dollar 201.862 Cyprus pound 562.464 Euro 325.277(C.E.) Athens News Agency: News in English Directory - Previous Article - Next Article |
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