Athens News Agency: News in English, 00-01-13

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

CONTENTS

[01] Patra-Carnival

[02] Sports roundup

[03] Kosovo - Power supply

[04] Greece/Turkey - Joint exhibition

[05] ADEX-new contract

[06] Kosovo - Power supply

[07] Kosovo - Power supply

[08] European Commission-drachma

[09] Stock market report

[10] Papantoniou-drachma parity

[01] Patra-Carnival

The citizens of Patra, capital of the Achaia prefecture, in western Greece, are moving to the rhythm of the city's carnival, considered the most spectacular in the country.

The opening ceremony of Carnival 2000 will take place midnight on Sunday through Monday.

Thousands of people will gather in the heart of the city, at Georgiou Square, to give the carnival oath and light the carnival flame which will remain lit until the last Sunday of the carnival.

The opening ceremony will be full of colour, with a multitude of people taking to the streets in fancy dress, dancing and singing to the sound of bands playing a variety of music.

[02] Sports roundup

Olympiakos Piraeus edged PAOK Thessaloniki 2-1 on Wednesday in a seesaw Greek cup matchup highlighted by Serbian-Greek coach Dusan Bagevic¢s appearance on PAOK¢s bench, just a few weeks after resigning from the league-leading Piraeus club.

Olympiakos, leading the Greek first division but playing without its two highly touted foreign stars · injured Brazilian midfielder Giovanni and disgruntled Slovenian striker Zlatko Zahovic · qualified for the quarter final round. Two games are scheduled in subsequent rounds leading to the cup final. The game was played at Athens¢ Olympic stadium.

AEK Athens, amid a disappointing season-long slump, appeared explosive by comparison, downing first division Trikala 6-0 in a game played at the Athens team¢s quake-damaged Nea Philadelphia district stadium. The game was the first for Greek coach Yiannis Pathiakakis on AEK¢s bench, following the recent firing of former Partizan Belgrade headcoach Ljubisa Tubakovic.

In other games, Athens-based Panionios beat nearby Ethnikos Asteras 5-4 in the penalty round (3-3 regular time), Kalamata defeated Proodeftiki 3-0, Ionikos downed Iraklis Thessaloniki 4-2, and OFI Irakleio easily beat third division opponent Ayersani Naxos 3-0. In the derby of third division teams, Nafpaktiakos Asteras edged Neapoli Piraeus 1-0 to make it to the quarterfinals.

The round of ?16? concludes on Thursday evening with a "crowd pleaser", Aris Thessaloniki versus Panathinaikos Athens.

[03] Kosovo - Power supply

The Greek government spokesman on Thursday said the supply of electrical power to the currently UN-administrated Yugoslav republic of Kosovo will be included within the framework of humanitarian aid to the region.

No further details were given.

[04] Greece/Turkey - Joint exhibition

Plans for the inaugural ?Greek-Turkish Friendship and Cooperation Exhibition?, scheduled for April in Athens, were presented here on Thursday by the Greek and Turkish organisers.

The exhibition is slated for April 20 and 21 at Athens¢ seaside Peace and Friendship indoor Stadium. A bevy Turkish exports, traditional dress, dances and children¢s choirs from the neighboring country will be among the highlights. In addition, a joint fashion show by Greek designer Mihalis Aslanis and his Turkish counterpart Cemil Ipekci is also planned.

[05] ADEX-new contract

The Athens Derivatives Exchange (ADEX) will launch a new product on Friday, 14 January, a 10-year state bond futures contract aimed at private and institutional investors.

ADEX hopes its new contract will offer greater flexibility in the market and create new investment opportunities.

The 10-year bond futures contract is expected to improve and complete the Greek bond market, while it can also be used as an investment tool for the protection of investors from any sudden changes in long-term interest rates. It can also be used as an investment based on long-term rate predictions.

Trading hours for the new contract were set from 10.30-17.00.

[06] Kosovo - Power supply

The Greek government spokesman on Thursday said the supply of electrical power to the currently UN-administrated Yugoslav republic of Kosovo will be included within the framework of humanitarian aid to the region.

No further details were given.

[07] Kosovo - Power supply

The Greek government spokesman on Thursday said the supply of electrical power to the currently UN-administrated Yugoslav republic of Kosovo will be included within the framework of humanitarian aid to the region.

No further details were given.

[08] European Commission-drachma

The Greek government has not yet contacted with the European Commission regarding the time span of a decision to revaluate the drachma's central parity under which it will participate in the euro currency," a European Commission's spokesman said in Brussels on Thursday.

"We know, however, of the Greek government's intention to contact with community agencies soon with the aim to conclude negotiations on the currency's parity change," he said speaking to the ANA.

[09] Stock market report

Equity prices ended Thursday's session mixed to lower reflecting lack of fresh incentives and persistent low liquidity in the market.

The general index ended 0.10 percent lower at 5,181.73 points after moving within a narrow range for most part of the session. Trade was subdued with turnover at 166.654 billion drachmas.

A government's decision to leave the issue of the drachma's central parity against the euro open, seeking a joint decision with European authorities, kept investors on the sidelines.

The FTSE/ASE 20 index for blue chip and heavy traded stocks fell 0.67 percent to 2,676.69 points, while the FTSE/ASE MID 40 index ended at 950.10 points, off 0.06 percent.

The parallel market index for smaller capitalisation stocks ended 0.16 percent lower at 1,599.70 points.

[10] Papantoniou-drachma parity

The Greek government decided to leave the drachma's central parity against the euro unchanged at a meeting on Thursday, saying the issue would be jointly decided with European Union authorities.

"The revaluation of the drachma's central parity against the euro remains open. It is a matter to be jointly decided with European authorities," National Economy and Finance Minister Yiannos Papantoniou told reporters after a meeting with Prime Minister Costas Simitis to discuss the country's course towards participating in EMU.

Papantoniou said Greece would submit its entry application in the second week of March (12-13 March) following fulfillment of the inflation criterion by the end of February.

A final decision on the Greek entry application is expected at the EU summit in Porto, Portugal, June 19-20.

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