Athens News Agency: News in English, 00-01-12

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

CONTENTS

[01] Drug arrest

[02] Korasidis Telecom-ASE debut

[03] Greek marinas consultant

[04] G. Papandreou-Clerides meeting - statements

[05] Stock market report

[06] Wholesale prices index

[07] Simitis-GSEE-incomes policy

[08] Drachma rate policy

[01] Drug arrest

A 33-year-old Kavala man was charged with several illegal weapons possession and drug charges on Tuesday. Among others, police said 1.8 grams of heroin were found in the suspect¢s vehicle, whereas unlicensed shotguns and various knives were reportedly found in his residence during a search.

Nikolaos Paraskevopoulos was arrested in relation to the incident. He is due to face a public prosecutor.

[02] Korasidis Telecom-ASE debut

Korasidis Telecom's debut on the Athens Stock Exchange resulted in turmoil and undermined sentiment in the market on Wednesday.

Traders said a pre-market buy order of 950 shares at 129,000 drachmas each had entered the system before the opening of the session, pushing the company's share price 1,800 percent up on the first day of trading on the market.

The company's entry price was 6,500 drachmas and all open buy orders that followed in pre-market trading were sharply lower than the initial 129,000 per share.

Market data showed that 42,120 shares were traded at 120,000 drachmas each, 10 shares were traded at 48,000, 500 shares at 47,000, 10 shares at 35,400 and 2,540 shares at 35,000 drachmas each.

Finally, Korasidis Telecom's shares ended the day at 28,900 drachmas, up 344.62 percent on the day, with a session low price of 21,600 drachmas.

The value of transactions in the price range of 129,000-120,000 drachmas per share exceeded five billion drachmas.

[03] Greek marinas consultant

Four final binds were submitted in a tender for the selection of a financial consultant to undertake the development of marinas (tourist harbours), recreational facilities and yacht harboring network in Greece.

The four bids were made by: a) EFG Eurobank SA, Kantor Business Consultants SA, Triton Engineers Ltd and S.Sagias & Associates Law firm, b)Arthur Andersen Accountants, RCD Engineering and Panaconstantinou Law firm, c) CCF Charterhouse, Lamda, Parsons, Aronis-Dreppas-Karlaftis Engineers SA, Allen & Overy, M&P Bernitsa Law firm, JBR Hellas, Global View SA, Remaco SA, Elias Paraskevas Law firm and d)Agricultural Bank of Greece, PriceWaterhouseCoopers.

The Greek government plans to attract - through assingment tenders - investors willing to invest in tourist infrastructure. These investors will finance, build and manage projects in the programme.

[04] G. Papandreou-Clerides meeting - statements

Foreign Minister George Papandreou stressed here on Wednesday that there was absolutely no possibility of the Turkish Cypriot pseudo-state, illegally declared in the Turkish-occupied areas, being recognised.

The Greek minister, on the island republic for talks with the Cypriot government and its political leadership, added that the European Union has for some time now decided on the way with which to deal with the Turkish Cypriot community.

Papandreou was responding to a press question over the possibility that the T/C pseudo-state -- illegally declared in 1983 in the areas occupied by Turkey since 1974 -- could be recognised, and in light of recent statements by T/C leader Rauf Denktash that he would seek to establish contacts with the 15-member bloc.

He spoke at a press conference after a meeting with Cypriot President Glafcos Clerides, talks which reportedly touched on the new prospects afforded for a solution to the Cyprus problem following the recent EU Helsinki summit and Turkey¢s designation as an EU candidate-country.

[05] Stock market report

Equity prices ended Wednesday's highly volatile session mixed to lower reflecting lack of incentives and directions on the Athens Stock Exchange.

Dealers said the market was awaiting the government's decisions over the drachma's parity ahead of the country's entry in EMU. They cited a negative climate in international markets as another undermining factor.

The general index ended 0.05 percent lower at 5,187.33 points, off the day's lows of 5,083. The index had temporarily rebounded to 5,265 points by mid-session only to succumb to renewed profit-taking by the close. Turnover was a moderate 261 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 0.04 percent to 2,695 points, while the FTSE/ASE MID 40 index eased 0.01 percent to 950.75 points.

The parallel market index for smaller capitalisation stocks ended at 1.602,35 points, off 2.18 percent.

[06] Wholesale prices index

Greece's wholesale prices index rose 0.5 percent in November from the previous month, the National Statistics Service said on Wednesday.

The NSS said that WPI inflation was running at 4.2 percent in November from the same month in 1998. Wholesale prices were up 0.8 and 0.3 percent respectively in November 1998 and 1997.

Wholesale inflation was steady at 3.5 percent, on a year-on-year base, in November 1998 and 1997, respectively.

[07] Simitis-GSEE-incomes policy

Prime Minister Costas Simitis met with General Confederation of Workers of Greece chairman Christos Polyzogopoulos on Wednesday to discuss the government's incomes policy.

Polyzogopoulos told reporters after the meeting that he briefed the prime minister on GSEE's pay increases demands for the current year.

Union sources said GSEE would ask for a 4.0 percent pay increase this year.

[08] Drachma rate policy

A cabinet meeting, chaired by the Prime Minister Costas Simitis, will discuss on Thursday economic issues relating to the drachma's parity, National Economy and Finance Minister Yiannos Papantoniou said today.

He was speaking to reporters following a cabinet meeting to discuss the government's armaments programme on Wednesday.

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