Athens News Agency: News in English, 00-02-18

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

CONTENTS

[01] Dion-Macedonian Shield

[02] Lampsa-shareholders meeting

[03] Economy - social policy

[04] Greece-Turkey - business

[05] ASE-close

[01] Dion-Macedonian Shield

The remains of a famed Macedonian shield offered to the ancient temple of Dion, south of present-day Thessaloniki, by third century BC ruler Demetrius the Besieger were discovered a short distance from the location where several royal inscriptions lay unearthed for centuries.

Dion was the most sacred of Olympian shrines for the ancient Macedonians while today it is a pre-eminent archaeological site in the history-laden northern Greece province of the same name: Macedonia.

According to historians, Alexander the Great personally offered sacrifices at the Dion complex˘s main temple.

The shield features a depiction of a large star with 12 rays · the emblem of the Macedonian royal house -- between which the inscription ?Vassileos Dimitriou? (King Demetrius˘) is clearly visible.

[02] Lampsa-shareholders meeting

Lampsa, a Greek listed company owners of Athens hotel "Grande Bretagne", on Friday postponed its schedule general shareholders' meeting for the third consecutive time after reactions by minority shareholders demanding official action on allegations of share price manipulation in the period September-October 1999.

A new and final date was set for March 7 to elect a new board.

A group of private shareholders in the company, who initially planned to occupy the hotel during the meeting, asked for the Capital Markets Commission and the Financial Crimes prosecutor to jointly examine allegations of share price manipulation in the two-month period, when investors massively bought Lampsa's shares.

They also urged state agencies to examine the methods used by National Bank of Greece and Starwood Hotels, Lampsa's two main shareholders until recently, to sell their equity stakes to the public.

[03] Economy - social policy

National Economy and Finance Minister Yannos Papandoniou said on Friday that the state budget's "significant" surplus would be used to support an ambitious social policy programme, shortly to be announced by the ruling PASOK party.

Papandoniou was speaking after meeting with Prime Minister Costas Simitis and other ministers on the course of the country's economy.

Simitis is expected to announce the ruling party's social platform over the next few days. The programme will include economic and social policy directions for a new four-year term the ruling socialists are seeking in general elections on April 9.

[04] Greece-Turkey - business

Businessmen hold the key to better relations between Greece and Turkey, according to speakers from the two countries' business communities at a conference in Athens on Friday.

Speakers at the Hellenic Foundation for European and Foreign Policy (ELIAMEP) conference on a new era in Greek-Turkish relations said on Friday that growing trade between the two countries could make Turkey Greece's fourth largest trade partner and opened up prospects for greater cooperation in a number of areas.

About 100 Greek businessmen will visit Turkey on February 25 to put out feelers regarding setting up shop in the neighbouring country.

According to the latest figures, only 32 Greek business concerns are active in Turkey, while 43 Turkish concerns have opened their doors in Greece.

[05] ASE-close

Equity prices ended the last trading session of a negative week with gains on the Athens Stock Exchange, supported by renewed buying interest in smaller capitalisation stocks, a sector badly hit in the previous four sessions.

National Economy and Finance Minister, Yiannos Papandoniou, said it was only natural that the latest developments in crude oil prices would have an adverse effect on the Greek and the other 120 international stocks markets.

"But all this talk of a crisis in the market is exaggerated, the phenomena are temporary and the stock market suffers from rising oil prices," Papandoniou said.

The general index, which fell 5.08 percent in a four-day plunge, ended 1.04 percent higher on Friday to 5,277.05 points, off the day's highs of 5,315.54.

The FTSE/ASE 20 index for blue chip and heavy traded stocks rose 0.74 percent to 2,843.41 points, while the FTSE/ASE MID 40 index ended 1.56 percent higher at 873.23 points.

Turnover was a low 169.96 billion drachmas reflecting investors' reluctance to open new positions in the market.

The parallel market index for smaller capitalisation stocks ended at 1,429.00 points, up 2.60 percent.

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