Athens News Agency: News in English, 00-09-13

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

CONTENTS

[01] Foreign Exchange Rates-Thursday

[02] Weather Forecast-Thursday

[03] Greece-EU funds

[04] Greece-government-fuel prices

[05] ASE-close

[06] Greece-Italy-sea fare rise

[01] Foreign Exchange Rates-Thursday

Following are indicative rates released by the central bank for the next working day.

Thursdays rates (buying)

Euro 335.653

U.S. dollar 388.289

German mark 171.617

French franc 051.170

Pound sterling 546.572

Irish punt 426.192

Belgian franc 008.321

Luxembourg franc 008.321

Dutch guilder 152.313

Italian lira (100) 017.335

Austrian schilling 024.393

Danish kroner 044.977

Swedish kroner 039.978

Finnish mark 056.453

Spanish peseta 002.018

Portuguese escudo 001.674

Japanese yen (100) 363.072

Swiss franc 219.629

Norwegian kroner 041.751

Cyprus pound 587.323

Canadian dollar 261.908

Australian dollar 215.760

[02] Weather Forecast-Thursday

The day will start sunny on Thursday, turning showery in the west. Early morning mist is expected in the Ionian and on the mainland. Winds northerly, light to moderate, turning strong in the Aegean Sea. Temperatures in the north will range from 13C to 28C; on the rest of the mainland from 16C to 30C; and in the islands from 20C to 28C. Sunny in Athens, with temperatures between 20C and 30C. Same in Thessaloniki, with temperatures ranging from 17C to 27C.

[03] Greece-EU funds

The Greek government plans an overhaul of a system to absorb EU funds with the formation of new mechanisms (authorities) to implement a Third Community Support Framework programme.

The plans were discussed on Wednesday during a meeting between the Prime Minister, Costas Simitis, National Economy and Finance Minister Yiannos Papantoniou and National Economy Deputy Minister Christos Pachtas.

The new mechanisms are expected to promote mainly quality changes in the public sector and are expected to be discussed at a cabinet meeting on Thursday.

Papantoniou said the government would soon submit a draft bill in parliament and noted that EU funds, totalling 17.5 trillion drachmas by 2006, have been secured and that the new mechanisms would be designed to timely absorb these funds.

[04] Greece-government-fuel prices

The government will not make any more changes in a special tax on heating oil, currently the lowest in the European Union, National Economy and Finance Minister Yiannos Papantoniou said on Wednesday.

Speaking to reporters after a meeting with Prime Minister Costas Simitis, Papantoniou also said that there would be no changes in monetary policy easing.

He said that higher oil prices would not have an impact on economic growth rates but acknowledged that the inflation rate would be affected.

Papantoniou said the government was tightening its inspection in the market to avoid any speculative moves.

[05] ASE-close

Equity prices remained under pressure for the third consecutive session this week pushing the general index below the 4,000 level in nervous trade on the Athens Stock Exchange.

Analysts said the market would seek support at the 3,900-3,950 levels in the short-term.

The general index ended 1.0 percent lower at 3,990.72 points, off the day's lows of 3.984.72 points and the day's highs of 4,120.34. Turnover was a subdued 96.75 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,273.39 points, off 0.93 percent, and the FTSE/ASE 40 index fell 1.26 percent to 540.41 points.

The parallel market index for smaller capitalisation stocks ended 0.82 percent lower at 632.88 points.

[06] Greece-Italy-sea fare rise

Minoan Lines on Wednesday announced higher fares in its Greece-Italy sea lines to meet higher costs from rising fuel prices and the appreciation of the US dollar in international markets.

The shipping company said it was raising its vehicle fares by 10 percent from next Monday and by another 10 percent from October 16.

Minoan Lines said it would raise its passenger fares by 30 percent in the winter period and by another 15 percent in the summer 2001 period.

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