Athens News Agency: News in English, 01-09-05

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

CONTENTS

[01] EFG Eurobank named Greece's Bank of the Year

[02] Foreign Exchange Rates - Thursday

[03] Opposition wants action over feared energy shortage

[04] Weather Forecast: Unsettled on Thursday

[05] Greek stocks fall below 2,700 level

[01] EFG Eurobank named Greece's Bank of the Year

EFG Eurobank Ergasias has been named Greece's Bank of the Year by an international trade magazine belonging to the Financial Times group.

In annual distinctions awarded by the monthly Banker magazine EFG won its country category on quality, dynamism and innovation in financial services.

Winning banks also need to show they have the potential to maintain a leading role in the banking market in the future.

[02] Foreign Exchange Rates - Thursday

Indicative tourist buying rates

U.S. dollar 380.174

German mark 172.829

French franc 051.531

Pound sterling 549.809

Irish punt 429.202

Belgian franc 008.379

Luxembourg franc 008.379

Dutch guilder 153.389

Italian lira (100) 017.457

Austrian schilling 024.565

Danish kroner 45.414

Swedish kroner 35.519

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 316.123

Swiss franc 223.838

Norwegian kroner 042.623

Cyprus pound 589.655

Canadian dollar 243.636

Australian dollar 197.903

[03] Opposition wants action over feared energy shortage

The main opposition New Democracy (ND) party said on Wednesday that the government needed to take action in the energy sector in order to avert a shortage expected in 2004, the year that Athens will host the Olympic Games.

A shortfall of 600 megawatts has been forecast by the state's Energy Regulatory Authority, even if power plants still on the design board are built by then, Athanasios Nakos, ND's development spokesman, said in a statement.

The government is gradually issuing licences to companies that have applied to build power plants in the country's newly liberated electricity market. The Public Power Corporation formerly held a monopoly in the sector.

Nakos asked the government to remember the pledges it had made that deregulation would bring new investments, job creation, healthy competition and low prices to benefit consumers and the economy.

[04] Weather Forecast: Unsettled on Thursday

Changeable weather is forecast in all parts of the country on Thursday, with cloud likely to turn to rain or storms. The weather will gradually improve from the west. Winds variable, strong to very strong. In the north and west, temperatures will range from 13C to 26C; on the rest of the mainland from 16C to 29C; and in the Aegean islands from 18C to 30C. Sunny spells, cloud and showers expected in Athens, with temperatures between 18C and 30C. Overcast, showery and stormy in Thessaloniki with temperatures from 14C to 27C.

[05] Greek stocks fall below 2,700 level

Equity prices fell for the sixth consecutive session on the Athens Stock Exchange on Wednesday, undermined by a negative climate in international markets, lack of liquidity and worries over future economic developments in the domestic market.

The general index ended 1.36 percent lower at 2,680.99 points, with turnover a low 125 million euros, or 42.6 billion drachmas.

Sector indices suffered heavy losses, with Publishing (-3.17%), IT solutions (-3.10%) and Holdings (-2.32%) leading the decline.

The blue chip FTSE/ASE 20 index ended 1.02 percent lower, the FTSE/ASE MID 40 fell 1.92 percent and the FTSE/ASE SMALLCAP index dropped 2.18 percent.

Broadly, decliners led advancers by 310 to 32.

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