Athens News Agency: Daily News Bulletin in English, 99-10-08

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

CONTENTS

[01] Salomon upgrades Athens bourse to developed market

[02] Greece to pickdesigns in Olympic Village tender

[03] Central bank chief doesn't rule out rate cut

[04] Greece plans to issue 20-year bond

[05] Athens Bourse edges up in volatile trade

[06] Bonds hold low levels in light trade

[07] Energy deals to aid FYROM, Tzellas says

[08] Papantoniou to EU for meeting

[09] Athens Foreign Exchange

[10] Gov't on EU resolution regarding Turkey

[11] EU accession issues dominate Simitis talks with Malta's Fenech- Adami

[12] Tsohatzopoulos opens 12th WEAG conference

[13] South African aid for quake victims

[14] Greek presence at Frankfurt Book Fair

[15] Bomb attack against Greek school in Istanbul

[16] Avramopoulos promotes Athens 2004

[17] To the "Daily Bulletin" subscribers

[18] Stephanopoulos congratulates women's gymnastics team, chess champion

[01] Salomon upgrades Athens bourse to developed market

Athens, 08/10/1999 (ANA)

The company said the decision was based on the Athens bourse's spectacular performance since the beginning of the year, showing gains of 79 percent in drachma terms and 63 percent in dollar terms, Reuters news agency reported.

As a rule, Salomon Smith Barney upgrades a stock market when there have been no restrictions on foreign investors for three years, and when the country's gross domestic product has been at least 10,000 US dollars per head in the past year.

Talk in the market of the anticipated upgrade had lifted sentiment on the Athens bourse on Wednesday when the general share index finished 1.01 percent higher at 5,884.05 points.

Athens News Agency

[02] Greece to pickdesigns in Olympic Village tender

Athens, 08/10/1999 (ANA)

A seven-member evaluation committee will meet by mid-month to evaluate the designs, and draw up a shortlist of six firms to submit plans in about three months.

Following evaluation of the six offers, negotiations will begin for the award of detailed engineering.

The panel will take into consideration experience in Olympic projects, experience in housing complexes, the composition of bidding groups, the ability to produce a design within the government's timescale, and the general profile bidders.

The tender was called on August 2.

Athens News Agency

[03] Central bank chief doesn't rule out rate cut

Athens, 08/10/1999 (ANA)

Addressing a shareholders' meeting, Mr. Papademos did not specify the possible timing or extent of a decline.

"In coming weeks the Monetary Policy Council will meet and take the relevant decisions. I cannot pre-empt the council's decisions," he added.

At the same time, he underlined that conditions were gradually emerging that would allow a rate adjustment.

Shareholders approved a stock split for the central bank, which is listed on the Athens Stock Exchange.

Athens News Agency

[04] Greece plans to issue 20-year bond

Athens, 08/10/1999 (ANA)

He also said that the public debt would be tangibly lower in 1999 as a proportion of gross domestic product.

Athens News Agency

[05] Athens Bourse edges up in volatile trade

Athens, 08/10/1999 (ANA)

The general index ended 0.47 percent higher at 5,911.47 points from 5, 884.05 points in the previous session.

Turnover was 487.3 billion drachmas from 438.742 billion drachmas a day earlier and 370 billion drachmas on Tuesday.

After rising 1.7 percent to 5,988 points shortly after trading commenced, selling in banks gradually spread to other sectors and the general index dropped to 5,822 points (-1.05 percent).

Buying interest resumed during the last half hour of the session, mainly in Construction and industrial blue chips.

Sector indices ended as follows: Banking (-0.94 pct), Insurance (+4.47 pct), Construction (+3.87 pct), Miscellaneous (+0.74 pct), Leasing (-0.35 pct), Investment (-0.54 pct), Industrials (+1.48 pct) and Holding (-0.16 pct).

The parallel market index for smaller capitalisation stocks lost 0.10 percent while the FTSE/ASE 20 index for blue chips and heavily traded stocks was down 0.70 percent to finish at 2,978.53 points.

Of 307 stocks traded, advances matched declines at 150 to 150 with seven shares remaining unchanged.

Among 52 shares to end at the daily 8.0 percent upper volatility limit were Tegopoulos, Aktor and Intracom. Finishing near the 8.0 percent lower volatility limit were Corinth Pipeworks (-7.9 pct) and Sheet Steel (-7.8 pct).

The day's most heavily traded stocks were Lampsa and Sheet Steel. National Bank of Greece ended at 23,800 drachmas, Alpha Credit Bank at 23,970, Commercial Bank of Greece at 28,200, Minoan Lines at 9,700, Intracom (common) at 31,644, Titan Cement (comm on) at 40,200, Hellenic Petroleum at 5,550, Hellenic Telecommmunications Organisation at 7,100 and Panafon at 8, 005 drachmas.

Athens News Agency

[06] Bonds hold low levels in light trade

Athens, 08/10/1999 (ANA)

Electronic trade remained slack, holding around the previous session's 24 billion drachmas and 12 billion drachmas a day earlier.

Of yesterday's turnover, sell orders accounted for much of the total.

The benchmark 10-year bond, which was still trading below par, showed a yield of 6.85 percent from 6.80 percent, the same as in the previous four trading days. The 10-year paper's yield spread over German bunds was around 168 basis points from 169 to 170 basis points a day earlier and 163 basis points on Tuesday.

Drachma free from pressure : The drachma again was free from speculative attacks in the domestic foreign exchange market yesterday after repeated interventions by the central bank mostly last week.

At the central bank's daily fix, the euro ended slightly higher versus the drachma.

The European currency was set at 328.600 drachmas from 328.370 drachmas in the previous session and 328.550 drachmas on Tuesday.

The dollar also finished higher against the drachma.

At the fix, the US currency was set at 306.650 drachmas from 305.170 drachmas a day earlier and 307.510 drachmas on Tuesday.

Athens News Agency

[07] Energy deals to aid FYROM, Tzellas says

Athens, 08/10/1999 (ANA)

"This will help FYROM to stabilise its political system as it will have a steady and assured energy supply and it will be able to liberalise its domestic energy market," Mr. Tzellas said.

He was speaking in an interview to CNN television during a visit to London to inform institutional investors of the state-owned company's performance.

Hellenic Petroleum, a heavily traded stock on the Athens bourse, is planning to float a second stake in the near future.

Athens News Agency

[08] Papantoniou to EU for meeting

Athens, 08/10/1999 (ANA)

The meeting is expected to deal with employment, economic and structural reforms, a possible reduction of Value Added Tax on certain goods, and combatting fraud.

Also on the agenda are financing for Turkey in the wake of the devastating August 17 earthquake.

Meanwhile, Deputy National Economy Minister Rodoula Zisi is in Berlin to take part in the second Euro-Asian meeting of finance ministers.

The officials are discussing the effects of the introduction of the euro as a common currency on commercial relations and investments, the economic situation in southeast Asian countries and the contribution of the private sector in the creation of infr astructure in these countries.

The meeting will run through to October 10.

Ms Zisi will then proceed to Luxembourg where she is to take part in the EU General Affairs Council discussion on the World Trade Organisation.

Athens News Agency

[09] Athens Foreign Exchange

Athens, 08/10/1999 (ANA)

Parities in Drachmas

Banknotes             Buying  Selling
US Dollar             304.197 311.250
Can.Dollar            207.189 211.993
Australian Dlr        201.078 205.740
Pound Sterling        503.321 514.991
Irish Punt            413.898 423.495
Pound Cyprus          561.631 574.652
Pound Malta           716.142 745.981
Turkish pound (100)     0.060   0.063
French franc           49.694  50.846
Swiss franc           204.580 209.323
Belgian franc           8.081   8.268
German Mark           166.667 170.531
Finnish Mark           54.825  56.096
Dutch Guilder         147.919 151.349
Danish Kr.             43.856  44.873
Swedish Kr.            37.377  38.243
Norwegian Kr.          39.392  40.306
Austrian Sh.           23.689  24.238
Italian lira (100)     16.835  17.226
Yen (100)             281.807 288.341
Spanish Peseta          1.959   2.005
Port. Escudo            1.626   1.664

Foreign Exchange      Buying  Selling
New York              304.197 311.250
Montreal              207.189 211.993
Sydney                201.078 205.740
London                503.321 514.991
Dublin                413.898 423.495
Nicosia               561.631 574.652
Paris                  49.694  50.846
Zurich                204.580 209.323
Brussels                8.081   8.268
Frankfurt             166.667 170.531
Helsinki               54.825  56.096
Amsterdam             147.919 151.349
Copenhagen             43.856  44.873
Stockholm              37.377  38.243
Oslo                   39.392  40.306
Vienna                 23.689  24.238
Milan                  16.835  17.226
Tokyo                 281.807 288.341
Madrid                  1.959   2.005
Lisbon                  1.626   1.664

Athens News Agency

[10] Gov't on EU resolution regarding Turkey

Athens, 08/10/1999 (ANA)

Government spokesman Dimitris Reppas said that the European Parliament's resolution was "an asset and not a concession".

The resolution on Wednesday came after Enlargement Commissioner Guenter Verheugen told the European Parliament that Turkey should be given formal candidate country status.

The assembly subsequently approved a resolution acknowledging Turkey's eligibility to apply for membership but pointing out that it had not yet fulfilled membership criteria.

Mr. Reppas also accused the main opposition New Democracy (ND) party of misleading public opinion on the issue "in an irresponsible and harmful manner".

Reacting to the stance of ruling PASOK party Eurodeputies in voting on Wednesday's resolution, main opposition ND leader Costas Karamanlis had earlier yesterday accused Prime Minister Costas Simitis and the government of "selling out" long-standing Greek positions and constantly making unilateral concessions to Turkey. Mr. Karamanlis described the stance of the PASOK Eurodeputies as "tragicomic" and "harmful".

Of nine PASOK Eurodeputies, seven voted for, one against and one abstained from the voting.

The ND leader claimed that the government's policy had led the country into a difficult position and reiterated his call for the formation of a foreign policy council.

The total tally was 259 in favour, 187 against and 84 abstentions.

Athens News Agency

[11] EU accession issues dominate Simitis talks with Malta's Fenech- Adami

Athens, 08/10/1999 (ANA)

Speaking to reporters after talks with Mr. Fenech-Adami, Mr. Simitis said Greece wanted negotiations to commence for Malta's accession to the European Union and expressed a hope that a decision to this effect would be taken at the upcoming EU summit in Helsinki.

Mr. Simitis underlined that Malta's application should be examined along with those of the other candidate-countries in the first "wave" of accession.

Mr. Fenech-Adami described his talks with Mr. Simitis as "particularly interesting", and said the island nation wished to further strengthen its ties with Greece. It was within this framework, he added, that Malta had decided to install a permanent amba ssador in Athens.

Underlining the common Mediterranean identity of the two countries, Mr. Fenech-Adami said Malta's desire to join the EU "strengthens the Mediterranean dimension of the European Union".

He said he was very pleased with the assurances given to him by Mr. Simitis concerning Athens' support for Malta's EU membership bid.

He also extended an invitation to the Greek premier to visit Malta.

Stephanopoulos, Karamanlis : President of the Republic Kostis Stephanopoulos also received Mr. Fenech-Adami, before the Maltese PM met with main opposition New Democracy (ND) leader Costas Karamanlis.

In addition, Parliament President Apostolos Kaklamanis later expressed Parliament's undivided solidarity for Cyprus' and then Malta's accession to the EU.

Mr. Fenech-Adami added that the sooner Malta and Cyprus become EU members the better for both countries and for the future of Europe.

Athens News Agency

[12] Tsohatzopoulos opens 12th WEAG conference

Athens, 08/10/1999 (ANA)

Discussion of a common armaments policy follows a recent decision by European Union leaders on a common foreign and security policy (CFSP).

Opening the conference, Mr. Tsohatzopoulos said the aim was to forge a common defence policy at EU level at the same time as monetary union.

Mr. Tsohatzopoulos said it was now necessary for Greece to participate in international organisations of collective security.

He underlined that Greece must have strong armed forces if it was to protect its national security and play an important role in the greater region.

"Greece must be and is a force for stability in the Balkans," Mr. Tsohatzopoulos added. Greece holds the presidency of WEAG from January 1999 to December 2000.

Athens News Agency

[13] South African aid for quake victims

Athens, 08/10/1999 (ANA)

Fundraising efforts by South Africa's ethnic Greeks were highlighted yesterday during a brief ceremony at the residence of Pretoria's envoy in Greece, with the president of the Hellenic Communities of South Africa, Harry Gouvelis, presenting a represent ative of Greece's Red Cross with the check.

"Our offer may be small but it is with love from us," he said, adding that a delegation from South Africa, accompanied by the Red Cross, toured the districts hardest hit by the Sept. 7 tremor.

Mr. Gouvelis stressed how the Greek Red Cross had been quick to send aid to earthquake-stricken NW Turkey, noting that the Moslem community of South Africa had now contributed to relief efforts for Athens' quake victims.

"In Africa, the family is the soul of society; we also have the foster family institution to care for the elderly and those in need. This tradition is based on the African spirit of 'Ubuntu', which comes from the Xhos� tribe and means to act with love a nd care for your neighbours and your fellow man," South African ambassador to Athens David Jacobs said at the ceremony.

Athens News Agency

[14] Greek presence at Frankfurt Book Fair

Athens, 08/10/1999 (ANA)

"Our presence this year is the start to our great preparation for 2001," said Culture Minister Elizabeth Papazoi during a press conference yesterday, meaning that Greece will be the honoured nation in that year's event.

This year's honoured nation is Hungary, and there will be events marking the 250 anniversary of the birth of Wolfgang von Goethe in Frankfurt.

Athens News Agency

[15] Bomb attack against Greek school in Istanbul

Athens, 08/10/1999 (ANA)

The explosion, caused by a home-made bomb, occurred shortly after midnight at the Zographeio Lyceum in Istanbul's Pera district.

The Islamist group "EBDAC" claimed the attack in a telephone call to a local newspaper.

The shadowy Turkish terrorist group, which has in the past claimed attacks targetting the Ecumenical Patriarchate of Constantinople, did not specify the reasons behind the attack on the Greek school.

Sources said the attack was "designed to cause noise and minor material damage and not to endanger the school's pupils or personnel."

The school opened as usual, while work has also commenced to repair the damages, sources said.

Greek reaction : In Athens, government spokesman Dimitris Reppas told reporters that the attack was an isolated incident.

"The government condemns the act and calls on Turkish authorities to take measures to isolate these elements, which belong to Islamic groups," he said.

On his part, a foreign ministry spokesman also strenuously condemned the bomb attack.

"We condemn the bombing against the Zographeio school for ethnic Greeks - which caused material damage to this historic school - in the most categorical manner. Istanbul's authorities should move immediately to detect and punish the perpetrators.

"However, at the same time, they should take all necessary measures for the protection of ethnic Greek establishments and the safeguarding of the property of ethnic Greeks," Panayiotis Beglitis stressed.

Athens News Agency

[16] Avramopoulos promotes Athens 2004

BRUSSELS, 08/10/1999 (ANA- Y. Zitouniati)

Mr. Avramopoulos is participating in the general assembly of mayors of EU capitals.

Athens News Agency

[17] To the "Daily Bulletin" subscribers

As you are aware, technological developments in the mass media sector are rapid. Today, all the news services are offered online. The "electronic newspaper" supplements, and in many cases replaces, the printed newspaper. Contact via e-mail also affords the ability for direct communication.

These developments, as many others, have also influenced our own work here at Athens News Agency (ANA), which is adapting all its services to the new technology. In the framework of these changes, the "Daily Bulletin" will - as of Jan. 2, 2000 - be conv erted from a printed to an electronic medium for our subscribers.

With this change, our subscribers will: a) receive our news items online, at the moment the news is breaking. b) receive the next day's "Daily Bulletin" on their screens at midnight, with the ability to print it out if they wish or simply view on screen. c) receive the "Bulletin" either via the paid ANA services on the Internet, or via e-mail sent to a subscriber's e-mail address. d) also have the ability, for a small surcharge, to utilise the ANA's English-language data bank, which contains all the news items appearing in the "Daily Bulletin" since 1992.

We believe that these changes, which correspond with the new function of the international and national news agencies, will satisfy subscribers' needs for immediate and credible information. In order to subscribe to this service, you must have a PC and a modem, or an e-mail address.

All who wish to continue receiving our services must prepare for these changes which, as stated, will commence on Jan. 2, 2000.

Takis Mantis, the director of ANA's informatics and telecommunications department, is at your disposal for any technical information on tel: 64.00.560 and 64.00.038.

I sincerely hope all our subscribers will adapt to these necessary technological changes.

Andreas Christodoulides

ANA General Director

Athens News Agency

[18] Stephanopoulos congratulates women's gymnastics team, chess champion

Athens, 08/10/1999 (ANA)

Irene Aindili, Anna Polatou, Hara Karyami, Maria Georgatou, Eva Christodoulou and Kleoniki Georgakopoulou were accompanied by various government sports officials and their coach, Eleni Polychronidou.

Mr. Stephanopoulos also received Maria Kouvatsou and congratulated her for winning a gold medal at the world chess championships for young women in Yerevan, Armenia.

Athens News Agency

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