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Athens News Agency: News in English, 07-01-02

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] National Bank on Finansbank minority shares bid
  • [02] 3rd CSF absorption rate reaches 58 pc
  • [03] Top KKE delegation in West Bank

  • [01] National Bank on Finansbank minority shares bid

    National Bank on Tuesday said it has requested that Turkey's Capital Markets Commission reconsider a decision asking the Greek bank to raise its offer to buy out Finansbank's minority shareholders.

    National Bank completed the acquisition of 46 percent of Finansbank's common shares and 100 percent of founding shares on Aug. 18, 2006, while applying to Turkey's Capital Markets Commission to approve a binding public offer to purchase the remaining 44.3 percent of Finansbank's shares. On Dec. 28, Turkey's market watchdog said National Bank must raise its offer to 4.14 US dollars for each 10 shares, up from 4.04 US dollars paid for the acquisition, citing accounting differences on valuations for the Turkish lender.

    Caption: A National Bank branch in Athens. ANA-MPA file photo

    [02] 3rd CSF absorption rate reaches 58 pc

    The rate of absorption of funds from the 3rd Community Support Framerwork (CSF) reached 58 percent at the end of 2006, according to the finance and economy ministry's press bulletin.

    The absorption of funds for sector programmes amounted to 57.7 percent and to 58.5 percent for regional ones. Moreover, legal commitments (contracts signed) reached 90 percent of the total public expenditure.

    Legal commitments cover a percentage of 88.6 percent for sector programmes and 93.3 percent for the regional ones.

    The finance ministry also mentioned that "for 2006 there will be no loss of European Union funds as a result of the N+2" rule."

    [03] Top KKE delegation in West Bank

    A Communist Party of Greece (KKE) delegation, led by KKE leader Aleka Papariga, will arrive in the Palestinian self-rule areas on Wednesday for a three-day visit, which will include meetings with Palestinian Authority officials, Parliament deputies and politicians from the entire political spectrum as well as social groups.

    The KKE delegation was invited to the area by the Palestinian People's Party (PPP), the one-time Palestine Communist Party.

    Caption: KKE leader Aleka Papariga. ANA-MPA photo.

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