Athens News Agency: News in English, 03-08-05

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

CONTENTS

[01] Minister sees inflation below 3.8 pct in July and beyond

[02] EU approves grant for study on Greece, Italy natgas link

[03] Boy seriously injured at playground

[04] Athens Bourse Close: Stocks drop in correction

[05] Foreign Exchange Rates - Wednesday

[06] Weather Forecast: Hot and sunny on Wednesday

[01] Minister sees inflation below 3.8 pct in July and beyond

Inflation will fall below June's figure of 3.8 percent as price declines have been noted in basic goods, Development Minister Akis Tsohatzopoulos said on Tuesday.

The minister told a news conference he was optimistic that inflation in July and beyond would show a declining trend.

Using a European Union index, average price rises for services in 2002 were 5.2 percent and 3.1 percent for goods, expected to drop to 2.1 percent in 2003, he said.

Due to improved corporate earnings, the government was expecting firms to show price restraint. Talks with the market on keeping prices down under a ''gentlemen's agreement'' employed in the past would begin shortly, Tsohatzopoulos added.

The government would also step up market controls following the recruitment of inspectors in September, reinforced by part-time employees to be hired in local government.

The minister also rapped companies for failing to state indicative prices on bottled water and soft drinks as required by law; and several bottlers had been reported to the fair competition commission for a failure to comply.

[02] EU approves grant for study on Greece, Italy natgas link

The European Union has approved funding of 930,000 euros for a study on an undersea natural gas pipeline between Greece and Italy.

Endorsement was given by the EU's committee for economic aid for trans-European energy networks to a proposal from Greece's Public Gas Company (DEPA) and Edison of Italy requesting a 50 percent grant for the study.

The pipeline would represent continuation of a link between Greece and Turkey for which DEPA and Botas of Turkey are currently carrying out an engineering study, also receiving 50-percent EU funding of 4.0 million euros.

A natural gas link between Turkey, Greece and Italywould assist southeastern Europe.

[03] Boy seriously injured at playground

A nine-year old boy was seriously injured on Tuesday while playing with peers at a playground in Mesochorio Paranestiou, Drama, when the rusty chain of a cradle rocker broke.

The young boy was taken by a private car to the regional Drama hospital where doctors decided he had to be urgently transported to Papanikolaou Hospital, Thessaloniki, because of serious injuries in the head as well as in other parts of his body.

According to locals, most of the areas of the play field are unsuitable for children to play safely.

[04] Athens Bourse Close: Stocks drop in correction

The Athens bourse finished lower on Tuesday in a correction to successive rises, traders said.

The general share index shed 0.41 percent to end at 2,182.00 points. Turnover was 220.2 million euros.

The FTSE/ASE-20 index for blue chip and heavily traded stocks ended 0.68 percent down; the FTSE/ASE-40 for medium capitalisation paper 0.78 percent higher; and the FTSE/ASE-80 for small cap equities finished with gains of 1.27 percent.

Of stocks traded, advances led declines at 193 to 138 with 39 issues remaining unchanged.

[05] Foreign Exchange Rates - Wednesday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 1.142

Pound sterling 0.710

Danish kroner 7.492

Swedish kroner 9.293

Japanese yen 137.5

Swiss franc 1.544

Norwegian kroner 8.292

Cyprus pound 0.591

Canadian dollar 1.608

Australian dollar 1.772

[06] Weather Forecast: Hot and sunny on Wednesday

Hot, sunny weather is forecast all parts of the country. Winds north-northeasterly, moderate to strong, turning gale force in parts of the Aegean. On the mainland, temperatures will range from 18C to 35C; and in the islands from 22C to 32C. Temperatures in Athens between 25C and 35C; and in Thessaloniki from 23C to 33C.

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