Athens News Agency: News in English, 02-07-30

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

CONTENTS

[01] Public Gas Enterprise, Edison Gas to sign natgas memo

[02] Foreign Exchange Rates - Wednesday

[03] Gov't announces northern job package in wake of Softex closure

[04] Weather Forecast: Isolated showers, storms on Wednesday

[05] Greek stocks continue moving higher

[01] Public Gas Enterprise, Edison Gas to sign natgas memo

The Public Gas Enterprise and Edison Gas of Italy are due to sign a memorandum of cooperation on Wednesday to join forces in a plan to carry natural gas from the Caspian to the European Union through Turkey, Greece and Italy.

Under the plan, an undersea pipeline is to be built between Greece and Italy to transport the fuel.

The two companies plan to conduct preliminary studies in 2002, leading to a feasibility study for the pipeline that is due for completion by March 2003, industry sources said on Tuesday.

[02] Foreign Exchange Rates - Wednesday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 0.991

Pound sterling 0.634

Danish kroner 7.491

Swedish kroner 9.297

Japanese yen 118.5

Swiss franc 1.469

Norwegian kroner 7.565

Cyprus pound 0.579

Canadian dollar 1.558

Australian dollar 1.819

[03] Gov't announces northern job package in wake of Softex closure

The government on Tuesday announced a package of measures to boost employment and competitiveness in the northeastern prefectures of Drama and Kavala following the closure of Athenian Paperworks, which produced Softex paper products.

The package includes a rise in a cost-of-labour subsidy to 12.0 percent from 4.0 percent that will include industrial, mining, hotel and shipping enterprises in the two prefectures. The grant is payable from January 1, 2003 if firms maintain current staffing levels.

Another measure is to speed up red tape for the construction of a plant that will manufacture wind generators, creating 50 jobs.

The measures were adopted by Finance Minister Nikos Christodoulakis and Development Minister Akis Tsohatzopoulos in conjunction with the labour ministry.

Concerning the closure of Athenian Paperworks by its Italian owners, the national economy ministry committed itself to trying to keep the plant afloat using measures allowed by law.

The government will also sound out any investment prospects, and call on the company's owners to meet all the commitments it had made in the purchase contract for Athens Paperworks, the ministry said in a statement on Tuesday.

[04] Weather Forecast: Isolated showers, storms on Wednesday

Isolated showers and storms are forecast on the mainland and in the Ionian, mostly from late afternoon. The rest of the country will see sunshine. Winds westerly, light to moderate. In the north, temperatures will range from 15C to 29C; in the Ionian and on the rest of the mainland from 19C to 33; and in the Aegean islands from 22C to 31C. Temperatures in Athens between 22C and 32C. Same in Thessaloniki with temperatures from 19C to 28C.

[05] Greek stocks continue moving higher

Greek stocks continued their recovery for the second consecutive session in the Athens Stock Exchange on Tuesday, pushing the general index further away from the 2,100 level.

The index rose 0.49 percent to end at 2,125.39 points, off the day's highs of 2,143.38 points. Turnover, however, was a low 91.9 million euros.

The Telecommunications, Food-Beverage and Insurance sector scored the biggest percentage gains (1.32 percent, 1.30 percent and 1.15 percent, respectively), while the Holding, Cement and Wholesale sectors suffered the heaviest losses of the day (1.12 percent, 0.19 percent and 0.02 percent).

Broadly, advancers led decliners by 201 to 105 with another 55 issues unchanged.

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