Athens News Agency: News in English, 11-05-09

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

CONTENTS

[01] PPC approves establishment of subsidiary in Bosnia

[02] Four foreign nationals arrested in abduction of fellow national

[03] Lawyers reject meeting with Troika

[04] ASE opening: Decline 

[01] PPC approves establishment of subsidiary in Bosnia

An announcement said that the subsidiary's share capital will comprise 51 percent for PPC, 40 percent for Quantum and 9 percent for Cyprus Bank.ANA-MPA

The activities of the new company include the study, planning, set up, construction, operation, management and exploitation of electricity production units in the Serbian Republic of Bosnia (Srpska Republika).

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[02] Four foreign nationals arrested in abduction of fellow national

The four were arrested during a traffic police check on their car, in which a fifth Pakistani, the victim of the kidnapping, was also riding.

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[03] Lawyers reject meeting with Troika

The Bar Associations' presidents held an extraordinary plenary session on Sunday to discuss a proposed meeting a Troika delegation on Tuesday afternoon, of which justice ministry secretary general Athanasios Xiros had informed plenary president Yiannis Adamopoulos.

The plenary voted against the meeting with 33 votes against only 9 votes in favor of the meeting, and said in a statement that the country's lawyers acknowledge as their interlocutor only the justice minister as the institutional representative of the country's elected political leadership and the authoritative official for the issues of their sector, adding that the lawyers are always in absolute cooperation with the minister for the resolution of their institutional issues.

However, the statement continued, the lawyers "in no instance agree to take part in the meeting, with representatives of the Troika as the interlocutors", adding that they do not acknowledge the Troika as an institutional body nor legitimise their presence in Greece.

It is noted that the Board of Directors of the Athens Bar Association was also convened urgently on Friday, and it also turned down the justice ministry's invitation to meet with the Troika. The Athens Bar Association also said that the problems are resolved through understanding and a frank disposition for cooperation with the authoritative institutional agencies alone, as has been repeatedly proved.

The Athens Bar Association and various trade union and other bodies have taken recourse in the Council of state against the Memorandum, and a relevant ruling is pending.

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[04] ASE opening: Decline

Individual sector indices were moving mostly downward, with the biggest gains in Food & Beverage, up 1.44 percent; and Chemicals, up 0.40 percent.

The biggest losses were in Oil & Gas, down 2.04 percent; Commerce, down 1.61 percent; and Health, down 1.58 percent.

The FTSE/ASE 20 index for blue chip and heavily traded stocks was down 0.62 percent, the FTSE/ASE MID 40 index was down 0.66 percent, and the FTSE/ASE-80 small cap index was down 0.15 percent.

Of the stocks traded, 20 were up, 53 were down, and 15 were unchanged.

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