Athens News Agency: Daily News Bulletin in English, 99-10-12

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

CONTENTS

[01] Simitis calls for specific Turkish actions in bilateral relations, Cyprus

[02] Latsis Group launches $6 million joint venture in China

[03] Turkey, Greece business councils to arrange meeting

[04] Porto Carras complex on the auction block

[05] Stocks end up after sinking on Aget Heracles sale

[06] Secondary market bond trade hits zero

[07] Intracom, Romtelecom sign long-term supply contract

[08] Christodoulakis outlines economy in N. York

[09] Electra buys stake in electrical equipment importer

[10] Gov't checks for rent profiteering after quake

[11] Gov't plans to make ADEX Balkan, Mediterranean centre

[12] Greek insurers want Balkan business

[13] Athens Foreign Exchange

[14] Ex-Turkish navy chief cautions against any thought of Greek-Turkish conflict

[15] Stephanopoulos in Iran today

[16] Greek delegation in Istanbul

[17] EU foreign ministers call for quake-related support to Athens

[18] Premier tours quake-ravaged Metamorphosi district

[19] Simitis congratulations to Guterres

[20] Gov't: No US request for DNA results linked to 'Nov. 17' attack

[21] Kasoulides in Athens tomorrow

[22] Serb opposition leaders boycott EU meeting

[23] Nuclear `genie` discussed by Kaklamanis, Japan's Saito

[24] ND eyes March elections, party spokesman

[25] Van der Stoel contacts with Thrace Moslem deputies

[26] Tsovolas criticised gov't

[27] Better tourism cooperation between Greece, Britain discussed

[01] Simitis calls for specific Turkish actions in bilateral relations, Cyprus

ANKARA, 12/10/1999 (ANA - A. Abatzis)

That message was delivered by Greek ambassador Ioannis Korantis yesterday during a courtesy call to the Turkish PM.

The ambassador told ANA that the message referred to Athens' wish for "excellent relations with Turkey" and that it supported "Turkey's European prospect."

Mr. Korantis said Mr. Ecevit responded that there has been a Greek-Turkish dialogue since 1978, between him and the late Constantine Karamanlis. He again reiterated his position that "whenever Turkey and Greece engage in bilateral talks they make progress".

"We should separate Turkish-Greek problems from the Cyprus problem," Mr. Ecevit said in statements following the meeting.

"The basic problems between us, the Aegean problems, can be solved in a satisfactory manner for both sides only in a climate of dialogue," he added.

"I expressed a hope that this dialogue, in its future phases, could create the climate appropriate for dialogue and cooperation," Mr. Ecevit said.

Athens News Agency

[02] Latsis Group launches $6 million joint venture in China

Athens, 12/10/1999 (ANA)

Taking a 51 percent stake in the new Shanghai-based company will be SETE Promitheftiki and Emboriki SA, a member of the Latsis Group.

FHL Kyriakidis Marble-Granite is to hold 47 percent of stock, and Cosmo Marble SA the remaining 2.0 percent.

The joint venture is to be named Cosmostone Shanghai Ltd. and managed by the Latsis-owned firm. The wholly Greek capital investment is the first of its kind in China. In the first stage, Cosmostone will process the marble and sell it in the form of a finished product in China and neighbouring countries.

In the second stage, granite is to be processed for export.

SETE Promitheftiki is a procurement services company that recently branched out into marble exports. FHL Kyriakidis, which obtains raw materials from quarries in northern Greece, is the only marble firm to be listed on the Athens Stock Exchange.

Cosmo Marble, partly owned by SETE and Kyriakidis, was set up at the beginning of the year to handle exports for seven domestic marble producers.

Athens News Agency

[03] Turkey, Greece business councils to arrange meeting

Athens, 12/10/1999 (ANA)

Athens News Agency

[04] Porto Carras complex on the auction block

Athens, 12/10/1999 (ANA)

Offering 100 percent of the firm's stock are shareholders National Bank of Greece, Hellenic Industrial Development Bank and National Investment Bank for Industrial Development. The deadline for binding offers, which must be accompanied by a letter of guarantee, is December 1.

Athens News Agency

[05] Stocks end up after sinking on Aget Heracles sale

Athens, 12/10/1999 (ANA)

The general index ended 0.79 percent higher at 5,972.75 points, up from 5, 926.08 Friday's close.

The index was down 1.60 percent early in the session hit by the market's negative reaction to news of AGET Heracles Cement's takeover by the UK's Blue Circle through the acquisition of its Italian parent, Calcemento.

Yesterday's turnover was 410 billion drachmas.

Sector indices ended as follows: Banks (-1.56 pct), Leasing (+5.53 pct), Insurance (+0.23 pct), Investment (+3.75 pct), Construction (-2.01 pct), Industrials (+2.37 pct), Miscellaneous (+5.29 pct) and Holding (+5.38 pct).

The parallel market index for smaller capitalisation stocks ended 3.01 percent higher while the FTSE/ASE 20 index for blue chip and heavily traded stocks fell 0.32 percent to 2,984.55 points.

Broadly, advancers led decliners by 216 to 86 with another eight issues unchanged.

A total of 115 shares ended at the day's 8.0 percent limit up, while another six ended at the day's limit down.

Lampsa and Minoan Lines were the most heavily traded stocks.

Dionik and Attica Publications saw their shares jump 99 percent on the companies' first day of trading in the market. National Bank of Greece ended at 23,900 drachmas, Alpha Credit Bank at 24,000, Commercial Bank at 27,500, Titan Cement at 38,430, Helle nic Petroleum at 5,200, Intracom at 33,300, Minoan Lines at 10,584, Panafon at 8,050 and Hellenic Telecoms at 7, 140 drachmas.

Athens News Agency

[06] Secondary market bond trade hits zero

Athens, 12/10/1999 (ANA)

Institutional investors abroad have kept out of the market for some time with light trade recently dominated by domestic players.

Electronic trade was posted as zero from 11 billion drachmas a session earlier, 24 billion drachmas in the previous two trading sessions, and 12 billion drachmas last Tuesday.

The benchmark 10-year bond, which is trading below par, was quoted around 96.10-96.35 yesterday from 96.30-96.95 a session earlier.

The paper showed a yield of 6.90 percent from 6.83 percent in the previous session and 6.85 percent on Thursday.

The 10-year paper's yield spread over German bunds was 167 basis points a session earlier from around 168 basis points on Thursday. No figure was given for yesterday's quotes.

Drachma holds steady against euro : The drachma was stable against the euro yesterday in uneventful trade.

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

The European currency was set at 328.320 drachmas from 328.400 drachmas in the previous session and 328.600 drachmas on Thursday.

The dollar finished higher against the drachma.

At the fix, the US currency was set at 308.690 drachmas from 307.790 drachmas a day earlier and 306.650 drachmas on Thursday.

Athens News Agency

[07] Intracom, Romtelecom sign long-term supply contract

Athens, 12/10/1999 (ANA)

The deal was signed on Friday and covers the supply by Intracom of digital lines, transmission systems, digital access services and national network management systems.

The contract provides for the installation of 320,000 digital lines, transmission systems and digital access systems for subscribers by the end of 2000 worth 26 billion drachmas.

Intracom said the contract was initially budgeted at 100 billion drachmas based on conservative forecasts and that the final budget would depend on the Romanian economy's growth rates.

Hellenic Telecommunications Organisation (OTE) has acquired a 35 percent stake in Romtelecom and manages the company.

Athens News Agency

[08] Christodoulakis outlines economy in N. York

NEW YORK, 12/10/1999 (ANA/M.Georgiadou)

Mr. Christodoulakis was addressing a Greek-American gathering in Astoria on Sunday evening.

He is visiting New York to present National Bank of Greece to US investors ahead of its planned listing on the New York Stock Exchange.

Athens News Agency

[09] Electra buys stake in electrical equipment importer

Athens, 12/10/1999 (ANA)

The contract is expected to help Electro-Import SA, an importer and wholesaler of electrical equipment founded 28 years ago, to increase its equity capital by 350 million drachmas, with 200 million drachmas contributed by Electra. Electro-Import's turno ver is expected to total 1.2 billion drachmas this year.

Athens News Agency

[10] Gov't checks for rent profiteering after quake

Athens, 12/10/1999 (ANA)

The measure aims to ensure a close monitoring of housing in damaged areas in order to combat profiteering. In another development, the Agricultural Insurance Organisation said yesterday it had so far paid a total of 402 million drachmas to 3,310 pension ers hit by the quake as part of a decision to grant emergency financial aid of 120,000 drachmas per pensioner.

Athens News Agency

[11] Gov't plans to make ADEX Balkan, Mediterranean centre

Athens, 12/10/1999 (ANA)

He pledged that the government would support the exchange in order to make it a derivatives centre for the Balkans and the Mediterranean.

ADEX chairman Dimitris Alexakis told the presentation: "The derivatives market is progressing smoothly with investors, both retail and institutional, steadily increasing their presence."

He added that the market had managed to gain the confidence of investors, despite its newness.

During the first 24 days of ADEX's operation, a total of 12,807 contracts have been traded worth 77.4 billion drachmas.

Athens News Agency

[12] Greek insurers want Balkan business

Athens, 12/10/1999 (ANA)

The conference was organised by the Greek Insurance Companies Union (EAEE) and was attended by representatives of the insurance industry from a total of 26 countries in the region.

The conference also called for closer cooperation within the industry, with emphasis given to exchanging information of mutual interest and promoting new technologies, training and legislation.

EAEE chairman Dimitris Kondominas noted that Greece has a comparative advantage against other countries in the region, being the only member of the European Union at the crossroads of East and West.

Domestic premiums totalled 659 billion drachmas in 1998, an increase of 14.75 percent from the previous year, he said. Life insurance premiums totalled 337 billion drachmas, up 17.9 pct. Mr. Kondominas added that following the earthquakes which hit Greece and Turkey in the previous two months the insurance industry faced the challenge of developing new policies to cover natural disasters.

Athens News Agency

[13] Athens Foreign Exchange

Athens, 12/10/1999 (ANA)

Parities in Drachmas

Banknotes             Buying  Selling
US Dollar             306.220 313.320
Can.Dollar            207.923 212.744
Australian Dlr        200.052 204.690
Pound Sterling        507.249 519.010
Irish Punt            413.545 423.133
Pound Cyprus          563.952 577.027
Pound Malta           720.906 750.944
Turkish pound (100)     0.060   0.063
French franc           49.652  50.803
Swiss franc           204.233 208.968
Belgian franc           8.074   8.261
German Mark           166.524 170.385
Finnish Mark           54.777  56.047
Dutch Guilder         147.793 151.220
Danish Kr.             43.821  44.837
Swedish Kr.            37.523  38.393
Norwegian Kr.          39.228  40.137
Austrian Sh.           23.669  24.218
Italian lira (100)     16.820  17.210
Yen (100)             286.986 293.639
Spanish Peseta          1.957   2.003
Port. Escudo            1.625   1.663

Foreign Exchange      Buying  Selling
New York              306.220 313.320
Montreal              207.923 212.744
Sydney                200.052 204.690
London                507.249 519.010
Dublin                413.545 423.133
Nicosia               563.952 577.027
Paris                  49.652  50.803
Zurich                204.233 208.968
Brussels                8.074   8.261
Frankfurt             166.524 170.385
Helsinki               54.777  56.047
Amsterdam             147.793 151.220
Copenhagen             43.821  44.837
Stockholm              37.523  38.393
Oslo                   39.228  40.137
Vienna                 23.669  24.218
Milan                  16.820  17.210
Tokyo                 286.986 293.639
Madrid                  1.957   2.003
Lisbon                  1.625   1.663

Athens News Agency

[14] Ex-Turkish navy chief cautions against any thought of Greek-Turkish conflict

ANKARA, 12/10/1999 (ANA - A. Abatzis)

Retired admiral Salim Dervisoglu, in an interview in the Turkish daily 'Sabah' yesterday, criticised the proponents of war as a means of settling Greek-Turkish differences, saying:

"The military know better than anyone else the damages that war causes, and no one emerges from a war without losses...The economies of Greece and Turkey are hanging on a string. Greece has four refineries today. If it loses them, if it loses roads, bridges, its infrastructure, that would be major damage. Both countries would emerge from a war with major losses. A war would take both us and them 50 years behind," Adm. Dervisoglu warned.

He said he met with his Greek counterpart for the first time in 1998, in Varna, Bulgaria.

"We thought that even though we knew we could not do something for peace, moving away from the political stance, we could however, ensure rapprochement between the two navies," he added.

"Later, our friendship developed and we saw that we could solve many problems by talking."

He also said there was telephone communication between the two navies in order to avert "tensions".

Athens News Agency

[15] Stephanopoulos in Iran today

Athens, 12/10/1999 (ANA)

He will be accompanied by a government delegation headed by Foreign Minister George Papandreou as well as by Greek entrepreneurs.

According to an IRNA dispatch, Mr. Stephanopoulos is the second head of state from a European Union country to visit Iran after the Islamic revolution in 1979. Austrian President Thomas Klestil had visited the country in September.

IRNA also reported that Greece always adopts "a positive position" towards Iran in the EU.

Greece, Iran and Armenia signed a cooperation protocol in May 1998 on widening and strengthening their tripartite cooperation on transport and communications issues.

In September of the same year, then FM Theodoros Pangalos participated in a tripartite meeting in Tehran with his counterparts from Iran and Armenia in the framework of tripartite cooperation between these three countries (inaugurated in 1995) on political, economic and cultural issues.

Two months later, at the end of November 1998, then Development Minister Vasso Papandreou had visited Tehran and signed a cooperation memorandum between Greece and Iran in the sectors of agriculture, research, technology, telecommunications and cultural heritage.

The last Greek dignitary to visit Iran was Defence Minister Akis Tsohatzopoulos in June, when he met President Khatami, who said that "Greek-Iranian talks of a defensive nature are not directed against any country..."

Iran had also been visited in the past by former PM Constantine Mitsotakis (1992), among others.

Iran is considered an important country from a geostrategic point of view in the region of Eurasia, given that it is also a major oil-producing country, but with particularly tenuous relations with the US. A possible normalisation of relations between Washington and Tehran is considered to be particularly important by most analysts and as a precondition for various developments in the wider Middle East region.

Iran announced at the end of September that it has discovered a new rich oil deposit, while US newspapers disclosed that US President Bill Clinton had addressed a letter to President Khatami for cooperation between the two countries on issues concerning oil.

Athens News Agency

[16] Greek delegation in Istanbul

ANKARA, 12/10/1999 (ANA - A. Abatzis)

Mr. Mantelis, who will arrive today in the city to attend a joint Greek- Turkish fundraiser for quake relief, will meet Mr. Oksuz at midday today.

Also in Istanbul are Greek MPs Rovertos Spyropoulos, from PASOK, Theofanis Didimoshakis, from main opposition New Democracy, Stavros Skopelitis, from the Communist Party (KKE), and Mustafa Mustafa, from the Coalition of the Left (Synaspismos).

All will be attending the concert to be given by composer Mikis Theodorakis, Turkish composer Zhulfi Livanelli and singer Maria Farantouri. The concert will be repeated in Athens tomorrow night.

Athens News Agency

[17] EU foreign ministers call for quake-related support to Athens

LUXEMBOURG, 12/10/1999 (ANA - M. Spinthourakis)

In a statement, the "15" called on the European Commission to study the granting of EU aid to Greece as soon as possible and in cooperation with Greek authorities to have the consequences of the recent earthquake dealt with. The statement comes as a continuation of a similar statement by the ECOFIN Council.

Foreign Minister George Papandreou and Alternate Foreign Minister Christos Rokofyllos said they were satisfied with this statement and expressed a conviction that the Commission will undertake the necessary initiatives.

Mr. Papandreou also had the opportunity to meet Israeli Foreign Minister David Levy, who attended the Luxembourg Council yesterday, and discuss issues of bilateral concern with him, including improved economic ties and cultural relations, as well as Greece's initiative for the development of multipartite cooperation between Greece, Turkey, Jordan and Egypt.

Likewise, Mr. Papandreou met yesterday with Luxembourg Foreign Minister Polver and Denmark's Nils Helveg Petersen.

Despite the fact that no official statement was made on these meetings, well-informed sources said EU enlargement issues were discussed, including relations between the EU and Turkey, where Greece's positions and those of these countries appear to be relatively close.

Athens News Agency

[18] Premier tours quake-ravaged Metamorphosi district

Athens, 12/10/1999 (ANA)

"The tents will not be a permanent situation and they cannot be a permanent situation. They will be removed as soon as possible," he said.

Accompanied by Interior Minister Vasso Papandreou and Town Planning Minister Costas Laliotis, Mr. Simitis arrived at the camp, where 15 families are already staying, shortly after noon.

Addressing the earthquake victims, Mr. Simitis said Metamorphosi was also faced with tragic deaths by the earthquake, while responsibilities will be attributed to those responsible soon.

Earlier, Mr. Simitis met with the mayor of the municipality.

Athens News Agency

[19] Simitis congratulations to Guterres

Athens, 12/10/1999 (ANA)

Mr. Simitis sent a telegramme both as premier of Greece and leader of the ruling PASOK party.

Athens News Agency MONTREAL 12/10/1999 (ANA - I. Frangouli)

Athens Mayor Dimitris Avramopoulos is scheduled to visit the city between Oct. 29 to 31 for celebrations related to the Greek-Canadian community.

During his visit, Mr. Avramopoulos will meet with his Montreal counterpart and will participate in the inauguration of the "Park of Athens".

Athens News Agency

[20] Gov't: No US request for DNA results linked to 'Nov. 17' attack

Athens, 12/10/1999 (ANA)

"The US government has not requested the DNA of the terrorists found after the 'November 17' attack on the residence of the German ambassador in Athens," government spokesman Dimitris Reppas said.

He was responding to questions from reporters in relation to the results of the Public Order Minister Mihalis Chrysohoidis' visit last week to Washington.

Mr. Reppas said the trip had resulted in a bilateral agreement on cooperating to combat terrorism and crime.

"The United States recognises the efforts we have undertaken and the results to date," he said.

Athens News Agency

[21] Kasoulides in Athens tomorrow

NICOSIA, 12/10/1999 (ANA)

The focus of talks between Mr. Kasoulides and the officials is expected to be a projected Turkish candidacy for EU membership at the EU Helsinki summit in December.

British diplomatic sources told the Cyprus Broadcasting Corp. that the eventuality of Turkey being placed on the EU candidate country list would bring little benefit to Ankara, but would give Greece the edge in exerting pressure, along with other EU member-states, on Turkey's progress on a number of issues of concern, including the division of Cyprus.

Athens News Agency

[22] Serb opposition leaders boycott EU meeting

LUXEMBOURG, 12/10/1999 (ANA - M. Spinthourakis)

The most important leaders of opposition parties such as Zoran Jijic, Vuk Draskovic and Dragoslav Avramovic ultimately refused to travel to Luxembourg, expressing their opposition to an announcement by the "15" which, among others, called on them "as so on as they assume the rule of the Federal Republic of Yugoslavia to cooperate with the International Criminal Court, namely, to deliver Yugoslav President Slobodan Milosevic and his close associates to it, against whom charges have been made.

On the part of Greece, Foreign Minister George Papandreou said the invitation for the Serb opposition to visit the Council was an important step, but added that certain moves by the "15" were unfortunate. He said the EU should draw its conclusions from the absence of the opposition leaders.

Mr. Papandreou said the fact the "15" decided to deliver heating oil to the Yugoslav cities of Nis and Pirot, which are controlled by the opposition, as well as the lifting of the flight ban on Montenegro and Kosovo was a positive event. He added that G reece favours the lifting for all of Yugoslavia. The issue will be discussed at the next Council. Agriculture Minister George Anomeritis is expected to sign a protocol of cooperation in the agricultural sector with Iran, during his visit in that country along with President Kostis Stephanopoulos.

According to a relevant announcement, the protocol includes irrigation systems, olive tree cultivation, fishing and grapevine farm systems.

Athens News Agency

[23] Nuclear `genie` discussed by Kaklamanis, Japan's Saito

Athens, 12/10/1999 (ANA)

Mr. Saito visited Mr. Kaklamanis yesterday at the head of a Japanese parliamentary delegation.

Expressing the Greek Parliament's regret over a nuclear accident in the Far East country last month, Mr. Kaklamanis said all the necessary measures should be taken on a worldwide level to ensure that nuclear energy does not cause accidents and destruction.

Mr. Kaklamanis also briefed the Japanese official on the problems faced by Greece owing to the operation of old technology nuclear power plants in neighbouring countries.

In particular, he expressed concern about the risk which would be posed by the operation of a nuclear plant planned in the earthquake-prone area of Akkuyu, Turkey, on its southeast Mediterranean coast.

Mr. Saito gave the assurance that Japan would take all the necessary steps to avert any nuclear accident in the future and expressed the Japanese parliament's condolences for the victims of the earthquake which hit Athens on Sept. 7.

The quake resulted in the postponement of an official visit by Mr. Kaklamanis to Japan.

Mr. Saito also handed Mr. Kaklamanis a check for 500,000 yen for the relief of the quake victims.

Athens News Agency

[24] ND eyes March elections, party spokesman

Athens, 12/10/1999 (ANA)

He said that ND cadres should intensify their work to enable the party to be ready as a government to provide solutions to problems faced by citizens.

Speaking afterwards, party spokesman Aris Spiliotopoulos said Prime Minister Costas Simitis is consistent only in inconsistency, because "he thinks of himself first and then the citizen...believing that he has hidden aces which he can draw whenever he con siders fit."

Mr. Spiliotopoulos spoke of a dissolved and wasteful public sector and accused the government of lacking the boldness and volition to go ahead with its restructuring.

He further said that the government was exposed by leaks to the press concerning surpluses amounting to one trillion drachmas. He added that it was not possible, on the one hand, for the government to assess with "false data" that grants proposed by ND amount to one trillion drachmas and state that the Greek economy cannot take such a cost, and on the other hand, the government to leak to the press that a surplus amounting to one trillion drachmas exists.

Mr. Spiliotopoulos said ND's intention is to provide solutions to the political deadlock created by government policy, letting it be understood that ND will cause early elections in March.

Athens News Agency

[25] Van der Stoel contacts with Thrace Moslem deputies

Athens, 12/10/1999 (ANA)

In a press release issued afterwards, Mr. Akifoglu and Mr. Galip noted what they called "the stated unchanged position of the (Moslem) minority".

According to a press release, that position includes demands "for the respect of all minority rights as prescribed by the international documents of the United Nations, OSCE and the Council of Europe (CoE)".

They added that the Moslem minority "never expressed demands toward autonomy, self-determination or separatism, and the possibility of such efforts will find us opposed."

Finally, they noted that "minorities should not be used as a pretext for aims toward the changing of borders."

Athens News Agency

[26] Tsovolas criticised gov't

Athens, 12/10/1999 (ANA)

Addressing party cadres, Mr. Tsovolas said the ruling PASOK party moved to "the right of the right wing."

Parliament yesterday approved its 2000 budget, decreased by 2.43 per cent on a year-on-year basis.

Next year's budget totals 33.5 billion drachmas compared to 34.3 billion drachmas in 1997 or about 800 million drachmas less than 1999.

A similar reduction was also seen in the expences for the compensation of deputies, which was reduced to a total of 6.8 billion drachmas compared to 7.9 billion drachmas in 1997.

Athens News Agency

[27] Better tourism cooperation between Greece, Britain discussed

LONDON, 12/10/1999 (ANA - L. Tsirigotakis)

The meeting was the start to EOT Secretary General Evgenios Yiannakopoulos' four-day working visit here.

"Great interest was shown on the British side for us to cooperate on tourism issues and the British minister asked to be briefed on the institutions concerning the functioning of Greek tourism and the institution of the National Tourism Council, which we have created in Greece in particular.

At noon, Mr. Yiannakopoulos attended a luncheon given in his honour at the Travellers Club by the British Committee for the Return of the Parthenon Marbles.

In presenting Mr. Yiannakopoulos, Committee president Graham Bins said "he was and remains a considerable backer and supporter of the Committee's effort for the return of the historic friezes to Greece."

On his part, Mr. Yiannakopoulos said that from his new position he will continue to help the Committee's considerable effort for the Marbles' return, stressing that the Committee's target is not solely a Greek case but concerns world civilisation and history.

Athens News Agency

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