Athens News Agency: Daily News Bulletin in English, 98-05-14

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

CONTENTS

[01] Gov't sets timescale for privatisation,shrugs off protests

[02] Athens condemns attack on Turkish human rights activist

[03] Kranidiotis tells US conference that Cyprus problem an anachronism in today's world

[04] Demirel says Turkey `will use its strength at the right time`

[05] Stephanopoulos receives Polish defence minister

[06] Conference of young parliamentarians from SE European countries in Thessaloniki

[07] Draft decision PVC synthetics in toys

[08] State Dept. satisfied with Skandalidis statements on Turkey's EU prospects

[09] Athens to host international conderence on media

[10] Holy Synod discusses Archbishop's planned visit to the Patriarchate

[11] Oldest Christian church in Tehran to reopen for services

[12] Athens objects to India's nuclear tests

[13] Aviation authority signs contract with Eurocontrol

[14] Commission looking at new OA reform plan

[15] Guide to holidays in Greece launched

[16] Commission endorses gov't measures following drachma's ERM entry

[17] Another invitation to tender for Cretabank

[18] Budget revenue rises 14.91 pct in January-April

[19] Greek state telecom to help upgrade National Bank's network

[20] Greek stocks sprint ahead on privatisation euphoria

[21] Greek mutual fund assets rise 10.84 pct in April

[22] Government wants to see agency for digital TV

[23] EOT head promotes nation's convention, conference tourism potential

[24] Greek business delegation in Jordan

[01] Gov't sets timescale for privatisation,shrugs off protests

Athens 14/05/1998 (ANA)

Speaking after a ministerial meeting, Mr. Papantoniou said the government had set a timescale for the sale of 12 enterprises, with the sale process beginning this month and ending in September 1999.

"Under no circumstances will the government change its policy and sacrifice targets set for Greece's entry into economic and monetary union," he told reporters.

The government has committed itself to cutting public spending and streamlining the public sector in order to join EMU by January 1, 2001.

The commitments were made when the drachma joined the exchange rate mechanism on March 14 as a stepping stone to EMU.

The timescale for the privatisation plan is as follows:

• Duty Free Shops SA will gain full listing on the Athens bourse in July when the remaining 80 percent of its shares are sold in private placements through the stock exchange.
  Bookbuilding will take place in May to set the share's price
• A 10-15 percent stake in listed Hellenic Telecommunications Organisation will be sold in September in the state telecom's third part-flotation
• The Thessaloniki international trade fair organisation will hand over the right to organise exhibitions to private firms in September. The trade fair's premises will remain in state hands
• A 25 percent stake in Olympic Catering, a subsidiary of national carrier Olympic Airways, will be floated on the Athens bourse through the issue of new shares in an initial public offer. Bourse entry will be requested in November
• A state company operating the Corinth Canal will be privatised with a strategic investor undertaking management. A tender for the firm's sale will appear in November
• Up to 49 percent of Athens Water Board (EYDAP) will be floated, and subsidiaries may be set up. Bourse entry will be requested in March 1999
• The state will sell a stake in the Athens Stock Exchange, and the new company to emerge will be listed on the bourse. The project will be completed in December
• The construction of horseracing tracks will be privatised. A tender is to be called in June 1999 to find an engineering contractor to undertake the project under a Build Operate Transfer deal
• Thessaloniki's Water Supply and Waste Disposal Boards will be merged. Up to 49 percent of the new company to emerge will be floated in May 1999
• Thessaloniki Port Authority is to become an SA company, up to 49 percent of whose shares will be floated after bookbuilding to be sought in June 1999
• Piraeus Port Authority will also become an SA company with up to 49 percent of its shares to be floated through bookbuilding in September 1999
• A part-float for Hellenic Petroleum, the process for which has already begun

Mr. Papantoniou said listing public utilities would allow the firms easy access to funds for investment.

In turn, this would allow rates for consumers to remain steady for two years, or lead to minimal rises.

Taking part in the meeting that endorsed the privatisation plan were Transport and Communications Minister Tasos Mantelis, Merchant Marine Minister Stavros Soumakis, Macedonia-Thrace Minister Philippos Petsalnikos and undersecretaries.

The government has already announced it will sell Ionian Bank, Cretabank and Bank of Central Greece.

Mr. Papantoniou said the government would not backtrack on its plan to sell Ionian Bank, a subsidiary of state Commercial Bank of Greece, and the details of its sale would be decided on June 12 at a shareholders meeting of the parent company. A call for bids would be released soon after.

Both firms are listed on the Greek bourse.

Workers at Ionian have launched an indefinite strike to protest against the bank's sale; other state and private banks will stage one-day strikes; and all banks are to hold a four-hour stoppage on May 20. They will also join a nationwide workers' strike on May 27.

Mr. Papantoniou said it was paradoxical that workers should strike in order to try to secure Ionian's merger with its parent when the move would mean more than 3,000 lay-offs, but the bank's sale would keep staff levels intact.

The minister also denied that the government and Commercial Bank were involved in a plunge of Ionian's share price on the bourse after its sale was announced.

The stock shed nearly 25 percent over several trading sessions.

Bill to close, merge state firms goes to parl't in summer : Mr Papantoniou also announced that the government will submit a bill to parliament in the summer allowing the closure or merger of 170 state agencies as part of its drive to curtail public spending and cut wastefulness.

The plan to merge or close the agencies is based on recommendations made by a ministerial committee.

Analysts welcome sale of state firms : Market analysts in Greece and abroad welcomed the government's plan to fully or part-privatise 12 firms.

Ricardo Pardieri, head of the financial analysis department at Morgan Stanley of the US, told Reuters news agency that the plan showed the government was being consistent in carrying out its commitments to the European Union.

Gov't disappointed at Ionian Bank strike : Government spokesman Dimitris Reppas said yesterday that the government was disappointed at an indefinite strike called by Ionian Bank employees to protest against the sale of the state-owned bank.

Mr. Reppas said unions had failed to realise that the government's decision to privatise Ionian Bank was also to safeguard workers' interests.

A merger of Ionian with its parent, Commercial Bank of Greece, would have led to 3,500 lay-offs but the sale of Ionian Bank to private investors would leave jobs unscathed, Mr. Reppas said.

Ionian Bank's management believes strike to end soon : Ionian Bank's management said yesterday it was certain that an indefinite strike called by its workers to protest against the bank's privatisation would end soon.

"There is no effective basis for concerns expressed by the bank's employees as the government has guaranteed there will be no loss of jobs after the sale, and the bank's regulations expressly provide for the protection of workers," management said in a statement.

It called on union representatives to allow employees who wished to return to work to do so, and pledged to pursue dialogue with the union in a bid to end the strike.

Management also said it would use all legal means to protect the interests of the bank's customers and employees, and of the bank itself, requesting understanding from custo-mers inconvenienced by the strike.

Vehement opposition reactions : Responding to yesterday's announcement by Mr. Papantoniou on the denationalisation and privatisation programme over the next two years, the main opposition New Democracy party sharply criticised the government, saying it lacked boldness and that it purpos ely fueled speculation at the Athens Stock Exchange (ASE).

In a statement, ND spokesman Aris Spiliotopoulos said that "instead of courageous denationalisations, the government chose flotation which, however, not only does not constitute a structural intervention, not only cannot lead to the restructuring of public utilities (DEKOs) and public finances in general, but on the contrary constitutes indirect taxation for the financing of the vicious administration and management of DEKOs, which continue to remain prisoners of PASOK's partisan state."

On its part, the Communist Party of Greece (KKE) said reactions of bank employees were justified, following the government's decision to privatise the Ionian Bank through the bourse.

KKE expressed solidarity to bank employees and denounced what it called the "sellout policy for Ionian Bank, which directly harms employees, leading to the dismissal of thousands and the imposition of labour relations of the previous century."

KKE added that in order to be able to act in favour of employees, the public sector must clash with "big capital" and support citizens belonging to low and medium-level income brackets.

The Coalition of the Left and Progress (Synaspismos) party said the government's option for the "wholesale sell-off of major and profit-making public enterprises to private citizens overturns existing legislative settlements and explicit pre-election co mmitments of PASOK."

Synaspismos claimed the government, lacking operational plans, is promoting a sweeping sale of profit-making public enterprises in record time on the altar of the "black hole" of public deficits.

Democratic Social Movement (DHKKI) leader Dimitris Tsovolas said that "inopportune privatisation and the removal of means of production from Greek control does not constitute modernisation but an unacceptable sellout of national wealth, resulting in the considerable burdening of consumers' pockets."

Mr. Tsovolas said that the government's announcements confirm "the socially callous and deadlocked economic policy of the government", adding that "with the policy of untransparent and inopportune privatisations, the only thing the government achieves is to make the rich richer and the poor poorer."

Trade unions expressed their "absolute opposition to the new barrage of privatisations" following the government's announcements yesterday, while the General Confederation of Workers of Greece (GSEE) underlined "the dangers entailed by these decisions for the national economy, development and employment."

On the question of the Hellenic Telecommunications Organisation (OTE), GSEE raises the question "in whose favour?" is the third phase of the organisation's flotation and terms the government's position an "unjustified decision aimed at the complete priv atisation of OTE."

It was further added that "two thirds of the wider public sector are being "auctioned or sold" to enable about 800 billion drachmas only to enter public coffers.

GSEE called on working people and trade unions to be in a state of readiness to prevent privatisations. A strike programme has already been announced in this direction. On May 20 and from 12 noon to 4 p.m. a work stoppage will take place at all DEKOs and banks, while a rally will be organised in front of the Ionian Bank's head office (Panepistimiou and Pesmatzoglou streets) at 1 p.m. On May 27, GSEE and the Civil Servants Supreme Administrative Council, ADEDY, have called a 24-hour nationwide strike.

In another development, the Commercial Bank's employees are escalating their reactions against the privatisation of the Ionian Bank. Yesterday they called three 48-hour strikes over the period up to the Commercial Bank's general assembly of shareholders on June 12, which will decide on the sale of the Ionian Bank. The strikes will be held on May 19 and 20, May 27 and 28 and June 4 and 5.

Athens News Agency

[02] Athens condemns attack on Turkish human rights activist

Athens 14/05/1998 (ANA)

"The murder attempt shows that mechanisms operate in Turkey which keep it captive, illiberal and undemocratic," government spokesman Dimitris Reppas said.

Mr. Birdal was critically wounded in a gun attack yesterday, attributed by his colleagues to ultra-rightist groups. Although he regained consciousness yesterday, the Turkish lawyer remained in critical condition.

"It would appear that concepts such as human rights and democracy are meaningless in Turkey," Mr. Reppas said, adding that the present face of Turkey was far removed from that which a modern country wishing to become a part of Europe should be.

Amnesty International (AI) and political parties also condemned the assassination attempt.

"No one is safe in Turkey. Adults and small children are equally in danger, " said AI's Greek chapter, stressing that it has repeatedly called on the Turkish government to respect and protect human rights.

Communist Party of Greece (KKE) parliamentary spokesman Stratis Korakas expressed his party's "strong indignation for the hideous crime."

"I know the victim personally. He is a staunch patriot and internationalist. I admire his boundless courage and heroism with which he has been defending human rights in Turkey for a number of yearsIThere are a great deal of members in his organisation i n Turkey who have been targets of attacks by security forces and para-state organisations, and have been wounded, murdered or disappeared," he said.

The Coalition of the Left also condemned the attack in a statement on Tuesday.

Finally, three Greek Parliament deputies, Galip Galip (Rhodopi - PASOK), Mustafa Mustafa (Rhodopi -Synaspismos) and Birol Akifoglou (Xanthi - New Democracy) condemned the assassination attempt.

In a letter sent to the Turkish Association of Human Rights, the three deputies stated:

"Akin Birdal is a personality with significant activity and contributions in defending human rights as well as Greek-Turkish friendship and the peaceful co-existence of peoples.

"We condemn in the strongest way this hideous murder attempt against him and we demand that those responsible be arrested...we wish Mr. Birdal a speedy recovery".

Athens News Agency

[03] Kranidiotis tells US conference that Cyprus problem an anachronism in today's world

WASHINGTON 14/05/1998 (ANA - T. Ellis)

Struggle World Coordinating Committee (PSEKA) here yesterday.

He said the course towards Cyprus' membership in the European Union will act as a catalyst for a solution of the island's political problem, and will greatly contribute to improving the standard of living of the Turkish Cypriot community, as well as mai ntaining the cultural, religious and national heritage of all Cypriots.

Referring to various reactions to the deployment of Russian-made S-300 anti- aircraft missiles on Cyprus, he said the international community, instead of exerting pressure on Nicosia - which has made clear the conditions under which it will be prepared to reconsider its decision - should turn their efforts towards the demilitarisation of the island and make it clear to Turkey that it is the large-scale gathering of weapons in occupied northern Cyprus that overturns balances.

After Mr. Kranditiotis' speech, members of the committee visited the White House, and were briefed by Clinton adiministration officials on the latest developments on the Cyprus issue. Officials reiterated the US president's personal interest in a soluti on and the fact that Turkey was responsible for the recently renewed stalemate in talks US envoy Richard Holbrooke had in Nicosia with the leaders of both communities.

Athens News Agency

[04] Demirel says Turkey `will use its strength at the right time`

ANKARA 14/05/1998 (ANA - A. Abatzis)

"Turkey has power and Turkey itself will decide when it will show its power, provided a good choice is made of the time, the place and the enemy," he said.

President Demirel said that "Greek-Turkish relations are at a sensitive point due to the islands and islets in the Aegean."

"If Turkey is faced with faits accomplis on the issue of the islands, this will create annoyance for us. There is a phrase by (Mustafa Kemal) Ataturk that war is a crime unless there is a vital need. This, however, is not a weakness for us. We have power. And we will decide when we will display it. A good choice must be made of the time, the place and the enemy. Turkey's patience is not due to its weakness. I am not threatening anyone. I am simply speaking in a very friendly and peaceful way," he said.

Referring to the issue of Cyprus, the Turk president said that "there is a 'de facto' situation in Cyprus", adding that "if there has been peace in Cyprus over the past 24 years, it is due to the Turkish armed forces."

Greek Government : Commenting on statements by Turkish officials on the existence of grey zones in the Aegean, Alternate Foreign Minister George Papandreou said that the continuous raising of such issues by Turkish officials isolates them on an international level.

Mr. Papandreou called on Turkey to comply with international law, assessing that relations between the two countries can be promoted in this framework.

He further said that he is not expected to have a private meeting with Turkish Foreign Minister Ismail Cem in Scotland, where both will arrive as guests of the Bildenburg Club.

Mr. Cem and Mr. Papandreou will participate in a discussion scheduled on the issue of Turkey's role in Euro-Atlantic institutions.

ND: Demirel threats show lack of civilisation : On its part, the main opposition New Democracy party said threats by Mr. Demirel confirmed the aggressive character of Turkish policy towards Greece.

"The threats hurled today by the Turkish president confirm the aggressive nature of Turkish policy towards Greece...(which) contradicts every concept of international law and principles of good-neighbourliness and reveals a lack of an elementary level of civilisation," ND spokesman Aris Spiliotopoulos said.

He added that Mr. Demirel's threats do not daunt Greece, but must be examined carefully by the governments of the US and the country's EU partners, as well as by every government truly interested in peace.

Athens News Agency

[05] Stephanopoulos receives Polish defence minister

Athens 14/05/1998 (ANA)

The Polish minister was accompanied by Mr. Tsohatzopoulos.

Mr. Onyszkiewicz visited Delphi in the morning, while in the afternoon he attended an event of the Polish embassy at the Estia Neas Smyrnis. Last night, he was due to attend an official dinner given in his honour by Mr. Tsohatzopoulos.

This morning, the Polish minister will lay a wreath at the Tomb of the Unknown Soldier and then visit the national defence ministry for talks with Mr. Tsohatzopoulos.

Athens News Agency

[06] Conference of young parliamentarians from SE European countries in Thessaloniki

Athens 14/05/1998 (ANA)

The meeting, which is a follow-up to last year's conference of young parliamentarians from the southeast Mediterranean on the island of Rhodes, April 13-15, aims to boost dialogue and the participation of national parliaments in developments in the region.

A five-member Greek delegation will participate in the conference, as well as delegations from Albania, Bulgaria, Croatia, Romania, Slovenia, FYROM, Turkey, Yugoslavia, and representatives of the European Commission, and the Parliamentary Convention of the Council of Europe.

Parliament vice-president Panayiotis Sgouridis will open the conference.

Athens News Agency

[07] Draft decision PVC synthetics in toys

BRUSSELS 14/05/1998 (ANA)

PVC was also found to reduce fertility, while discussion on the issue is expected on May 20, according to press reports.

Greenpeace has accused the Commission for its belated action on the issue in an announcement, stating that the Commission has already forbidden the use of PVC in toys found at European Union-run daycare centres for employees' children since February, but has not taken action to protect the rest of the children in the Union.

Several EU member-states have already placed restrictions in PVC use and have requested the Commission to take action.

Athens News Agency

[08] State Dept. satisfied with Skandalidis statements on Turkey's EU prospects

WASHINGTON 14/05/1998 (ANA - T. Ellis)

"We were glad to hear the PASOK secretary say that Greece does not oppose Turkey's admission into the EU," the spokesman said, adding: "We believe Turkey's future lies with Europe."

Mr. Rubin also condemned the attempted killing of Turkish human rights activist Akin Birdal.

Athens News Agency

[09] Athens to host international conderence on media

Athens 14/05/1998 (ANA)

"A 21st century dialogue: A media-run world" will run May 24-28 at the Astir Palace Hotel in Voulia gmeni.

Speaking at a press conference today, the presidents of the institutions - Alternate Foreign Minister George Papandreou and PASOK Executive Bureua member Yiannis Souladakis respectively - said the conference would focus on one of the era's "most pressing issues - that of the relationship between the media and democracy".

Among those scheduled to speak are Jean-Bertrand Aristide, the former president of Haiti, who will speak on "What the Media doesn't print: Neoliberalism and structural adjustment policies"; Ramsey Clark, the former U.S. attorney ge-neral, who will speak on "Media Manipulation of Foreign Policy"; and renowned Egyptian writer and novelist Nawal El-Sadawi, who will speak on "Western Cultural Imperialism reflected in the Media and International News".

By bringing together some of the world's leading media analysts, the conference hopes to expose the limitations imposed on public debate and perception by government 'management' and corporate censorship of the news. The conference hopes to generate a new level of understanding of the modern media in the era of globalisation while encouraging the creation of an international alternative media.

Among issues to be expanded on at the conference are: media monopoly and the role of the media in manufacturing public opinion; censorship and control of the media; media and war; public access to information; and building access to information.

Athens News Agency

[10] Holy Synod discusses Archbishop's planned visit to the Patriarchate

Athens 14/05/1998 (ANA)

According to sources, the issues which will be discussed during the visit will include the opening of a bureau of the Patriarchate in Athens, a reciprocal visit by the Patriarch to the Greek Church, and common action with respect to sister churches in the Balkans.

Athens News Agency

[11] Oldest Christian church in Tehran to reopen for services

The oldest surviving Christian church in the Iranian capital will reopen for services on May 18, during the International Cultural Heritage Day.

The 320-sq.-metre Saint Thaddeous and Bartholomew Church, built in 1808 by two Armenian families, will raise the number of operating Christian churches in Tehran to eight.

The yard of the church has become over the years an unofficial historical cemetery, where Russian and British ambassadors, a Georgian prince, Charles, the second son of renowned writer Sir Walter Scott, Charles Allison and other notables have been buried, as well as Armenians.

Athens News Agency

[12] Athens objects to India's nuclear tests

Athens 14/05/1998 (ANA)

India carried out five underground nuclear tests in the western state of Rajasthan. It was the first time India has carried out nuclear tests since the first one conducted by New Delhi in 1974. "

The United Nations treaty on the banning and non-proliferation of nuclear weapons must at all costs be adhered to," government spokesman Dimitris Reppas said.

Athens News Agency

[13] Aviation authority signs contract with Eurocontrol

BRUSSELS 14/05/1998 (ANA)

Athens News Agency

[14] Commission looking at new OA reform plan

BRUSSELS 14/05/1998 (ANA)

Mr. Kinnock was replying to a question by New Democracy Eurodeputy Kostis Hatzidakis.

Mr. Kinnock said the Commission had decided in April 1996 to request the stop of support measures for Olympic because the government was not meeting its commitments agreed to in 1994 to not intervene in the administration and management of the company, to end state assistance in any form, to change the status of the company into a societe anonyme and to bring company-state agreements into line with EU legislation.

"In December 1997 a preliminary report said that despite initial progress the implementation of the reform programme had degenerated and this had, as a result, placed the viability of the company in danger," Mr. Kinnock said.

The Greek authorities must convince the Commission of the effective implementation of the new reform programme, Mr. Kinnock said.

Athens News Agency

[15] Guide to holidays in Greece launched

Athens 14/05/1998 (ANA)

It is available in five languages: Greek, English, Spanish, German and Italian and is accompanied by maps of Greece. Information on the guide and on Greece is also available on the website: http://www.vacation-greece.com

Athens News Agency

[16] Commission endorses gov't measures following drachma's ERM entry

BRUSSELS 14/05/1998 (ANA)

The admonition is contained in a report on the "Orientations of Economic Policies of Member-States for 1998," issued yesterday in Strasbourg, which also recognises the progress of the Greek economy in recent years, and stresses that it must intensify ef forts for controlling inflation and reducing subsidies.

"Greece has, for a number of years now, made noteworthy progress in stabilising prices. In combination with efforts towards fiscal recovery made in these recent years, this development allowed the entry of the drachma into the Exchange Rate Mechanism of the EMS in March 1998," the report stated.

"Greece has (also) made noteworthy progress for the reduction of significant imbalances in public finances in recent years, but the deficit still stood at around 4 per cent of Gross Domestic Product in 1997...(It) must continue the efforts for fiscal reco very," it added.

With respect to reducing state subsidies, the report says strict control is required on the part of the Commission, and equally strict discipline on the part of member-states

"This discipline is particularly useful in the member-states whose state subsidies in relation to GDP are higher than the EU average (Germany, Luxembourg, Italy, Belgium, Greece).

The Commission's recommendations will be discussed and submitted for approval at the EU summit in Cardiff, June 15-16.

Athens News Agency

[17] Another invitation to tender for Cretabank

Athens 14/05/1998 (ANA)

The invitation is for the sale of 97 per cent of common and 100 per cent of the bank's preferred stock, while there is no minimum price limit set.

A consortium comprising the British Charterhouse Bank Ltd. and the French CCF Finely Bank are acting as consultants in the sale. Copies of the full text of the invitation to tender may be obtained from the consultants and Cretabank, 20 Voukourestiou St ., Athens (3rd floor).

The bank has 87 branches throughout Greece and an equity capital of 41.9 billion drachmas, as well as an on-line network.

Athens News Agency

[18] Budget revenue rises 14.91 pct in January-April

Athens 14/05/1998 (ANA)

Despite a dip in revenue recorded in April, ministry officials consider the overall figure for the four-month period to be satisfactory.

The target set for an increase in budgetary revenue in 1998 is 11.2 percent compared to last year.

Although the figure is more than covered by the overall four-month rise, the rate of increase in April was just 8.06 percent.

Ministry officials attributed April's figure mainly to a 7.55 percent drop in tax revenue and a 0.34 per cent increase in customs revenue.

Athens News Agency

[19] Greek state telecom to help upgrade National Bank's network

Athens 14/05/1998 (ANA)

The bank wants its system to be compatible with a new, advanced technology generation of integrated network services offered by OTE, National Bank of Greece said in a statement yesterday.

Athens News Agency

[20] Greek stocks sprint ahead on privatisation euphoria

Greek equities gained substantial ground on the Athens Stock Exchange yesterday as investors returned to the market following a short-term correction last week.

The general index ended 2.31 percent higher at 2,494.66 points. Turnover was also higher compared with the previous two sessions.

Traders said the market welcomed a government timescale for the privatisation of 12 state enterprises. Ionian Bank, battered by a price slump and partial recovery, lost another 290 drachmas to end at 11,400 drachmas.

Ionian, a subsidiary of state-owned listed Commercial Bank of Greece, is slated for privatisation.

Both the government and parent company have denied allegations they were responsible for driving down the share price in order to ease the bank's sale.

Sector indices scored gains across the board.

Banks rose 1.35 percent, Insurance ended 3.72 percent up, Investment increased 2.77 percent, Leasing jumped 4.87 percent, Industrials rose 2.76 percent, Construction edged up 0.83 percent, Miscellaneous soared 5.17 percent and Holding was 4.86 percent h igher.

The parallel market index for small cap companies fell 0.55 percent. The FTSE/ASE 20 index rose 2.07 percent to 1,490.48.

Broadly, advancers led decliners by 140 to 101 with another 28 issues unchanged.

Fourlis, Xiosbank, Silver Ores & Baryte, Mytilineos, Bank of Athens, Hellenic Sugar, Follie-Follie and Hadzioannou scored the biggest percentage gains hitting the day's 8.0 percent limit up.

Ekter, Atemke, Bank of Central Greece, Xylemporia, Korfil, Balkan Export, Halyps and Sarandopoulos suffered the heaviest losses.

National Bank of Greece ended at 47,400 drachmas, Ergobank at 27,500, Alpha Credit Bank at 31,680, Delta Dairy at 4,665, Titan Cement at 24,000, Intracom at 19,455 and Hellenic Telecommunications Organisation at 8, 600.

In the domestic money market, the drachma lost ground against most foreign currencies at the day's central bank fixing.

The Greek currency was 0.59 percent off against the US dollar and lost 0.17 percent against the Ecu.

Athens News Agency

[21] Greek mutual fund assets rise 10.84 pct in April

Athens 14/05/1998 (ANA)

Money market funds accounted for 62.64 percent of the market's total assets, followed by fixed-income funds at 23.45 percent, mixed funds at 9.79 percent and equity funds at 4.11 percent.

There are 28 mutual fund management firms operating in Greece.

Athens News Agency

[22] Government wants to see agency for digital TV

Athens 14/05/1998 (ANA)

Interested parties would take part in the body, Mr. Reppas said, replying to a question on when the framework would be created for its introduction.

Time was no obstacle and no commitments had been made for the introduction of digital TV, he said.

In addition, government policy would not be driven by profit motives, consumers' interests would come first, and past mistakes in launching private television should not be repeated, Mr. Reppas said.

According to government sources, Prime Minister Costas Simitis yesterday discussed the introduction of digital television in Greece with Development Minister Vasso Papandreou.

Ms Papandreou visited the premier for an hour-long meeting to brief the premier on her portfolio.

In addition, the spokesman for the main opposition New Democracy party, Akis Spiliotopoulos, called on the government to set up a legal framework for the introduction of digital television, making use of the National Radio and Television Council and the country's political parties.

Mr. Spiliotopoulos alleged that the government was not using transparency in the way it was promoting digital TV.

Athens News Agency

[23] EOT head promotes nation's convention, conference tourism potential

Athens 14/05/1998 (ANA)

Mr. Skoulas, speaking during a press conference in Geneva, headed a Greek delegation to the International Fair on Convention Tourism and Incentives (EIBIM), which began on Tuesday.

The EOT secretary general also said Greece enjoys the lowest crime rate in Europe as well as some of the lowest prices.

Athens News Agency

[24] Greek business delegation in Jordan

Athens 14/05/1998 (ANA)

According to HEPO, enterprises active in the sector of foodstuffs, construction materials, industrial products, electrical materials, medicines, office furniture, etc., can participate in the mission.

For further information call HEPO by May 22 at 99.82.246.

Athens News Agency

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