Athens News Agency: News in English, 04-04-08

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

CONTENTS

[01] Costs, deadlines dominate latest gov't-ATHOC contacts over Olympics

[02] Intracom sets up subsidiary in Bulgaria

[03] Weather Forecast: Mostly sunny on Friday

[04] Foreign Exchange Rates: Until Tuesday

[05] Athens Bourse Close: Stocks rise in light trade

[06] Five conscripts die of electrical shock in attempt to put up flagpost

[07] Five conscripts die of electrical shock in attempt to put up flagpost

[01] Costs, deadlines dominate latest gov't-ATHOC contacts over Olympics

The crucial issue of 2004-related budget overruns dominated Thursdays high-ranking inter-ministerial meeting between the government and Athens organisers (ATHOC), with top ministers citing increased costs for a variety of projects and infrastructure works.

Prime Minister Costas Karamanlis chaired the meeting

Although the issue of keeping costs down was were high on the agenda, ministers nevertheless promised that a bevy of pending projects would be ready on time for the upcoming Games, the much anticipated Olympic ?homecoming?. The new governments volition and Karamanlis determination to meet deadlines and overcome obstacles, among others, was cited by ATHOC chief Gianna Angelopoulos-Daskalaki as a deciding factor in the recent surge of progress.

In terms of additional financing, Economy Minister George Alogoskoufis said the new culture ministry ?point man? for the Games, one-time ATHOC executive director Spyros Capralos, will first verify specific ministries requests before ?passing the bill? on to the treasury.

On his part, Transport Minister Mihalis Liapis referred to cost overruns in the ?tens of millions of euros?, while sources put the figure at more than 100 million euros. In terms of pending projects under his ministrys portfolio, Liapis said the new tram and suburban rail line networks will be ready ?exactly on time.?

Both Public Works Minister George Souflias and Public Order Minister George Voulgarakis also expressed their confidence at the pace of preparations assigned to each ministry.

On her part, Angelopoulos-Daskalaki cited what she called the premiers ?decisiveness? and to ?excellent coordination? with the government.?

?Were determined not to cut corners in the quality of the entire project, which is necessary so that Athens and Greece are presented to the world under the conditions we set when we assumed the hosting of the Games,? she underlined.

[02] Intracom sets up subsidiary in Bulgaria

Athens-quoted Intracom SA said on Thursday that it had set up a mobile phone retail products and services company in Bulgaria.

Global Net Solutions EOOD (Ltd) will also set up and operate industrial units for electronic goods and produce software for new telecoms systems, the parent company said in a statement.

The new Sofia-based firm's start-up capital is 390,000 BGN (lev), the statement added.

[03] Weather Forecast: Mostly sunny on Friday

Sunshine is forecast in all parts of the country with some scattered cloud. Showers may fall in the north. Winds southerly, moderate to strong. Temperatures in Athens from 12C to 25C and in Thessaloniki between 14C and 24C.

[04] Foreign Exchange Rates: Until Tuesday

Reference buying rates per euro released by the European Central Bank

U.S. dollar 1.219

Pound sterling 0.665

Danish kroner 7.506

Swedish kroner 9.237

Japanese yen 129.4

Swiss franc 1.564

Norwegian kroner 8.428

Cyprus pound 0.590

Canadian dollar 1.613

Australian dollar 1.604

[05] Athens Bourse Close: Stocks rise in light trade

The Athens bourse finished higher on Thursday in a slim market before Easter, traders said.

The general share index gained 1.33 per cent to end at 2,451.72 points. Turnover was 119.0 million euros.

The FTSE/ASE-20 index for blue chip and heavily traded stocks ended 1.53 per cent up; the FTSE/ASE-40 for medium capitalisation paper 1.06 per cent higher; and the FTSE/ASE-80 for small cap equities gained 1.26 per cent.

Of stocks traded, advances led declines at 238 to 61 with 59 issues remaining unchanged.

[06] Five conscripts die of electrical shock in attempt to put up flagpost (adds)

Five conscripts were electrocuted on Thursday morning at a military outpost near Soufli, in the Evros border region, after coming into contact with a live wire while putting up a flagpost.

President of the Republic Kostis Stephanopoulos, expressed his deep grief over the tragedy, saying that the five young men, who had been called up to serve their homeland, would be greatly missed not only by their family but by all of Greece, and all the Greek people.

According to early information, the flagpost was uprooted by strong winds during the night.

Local authorities believe that the five conscripts miscalculated the distance from, or failed to see, the electricity cables, and were electrocuted when the flagpost came into contact with the electricity at the Manitsa border outpost in the Kornofolia area of Soufli..

Army experts were on the spot investigating the causes of the accident, while deputy national defence minister Yiannis Lambropoulos, national defence general staff (GEETHA) chief Gen. George Antonakopoulos, and army general staff (GES) chief Lt.-Gen. Panayotis Harvalas were en route to Soufli by military plain, on orders by national defence minister Spilios Spiliotopoulos, who said after an Inner Cabinet meeting that he would also be leaving for the outpost.

Also, a prosecutor has arrived on the site to investigate the conditions surrounding the accident.

[07] Five conscripts die of electrical shock in attempt to put up flagpost

Five conscripts died of electrical shock Thursday at a military outpost in the Evros border region, after coming into contact with a live wire while putting up a flagpost.

According to early information, the flagpost was uprooted by strong winds during the night.

Local authorities believe that the five conscripts miscalculated the distance from or failed to see the electricity cables, and were electrocuted when the flagpost came into contact with the electricity.

Army experts were on the spot investigating the causes of the accident.

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