Athens News Agency: Daily News Bulletin in English, 07-04-04

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

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

CONTENTS

[01] Cabinet discusses policy and action for gender equality

[02] Bakoyannis comments on Iran crisis, after meeting PM

[03] Gov't focuses on hooliganism issue, dissolution of fan clubs eyed

[04] Foreign and defence minister comments on bonds affair

[05] PASOK leader highlights bonds issue at Parliamentary Council

[06] Government spokesman on bonds affair

[07] Event on 'Independent authorities in modern democracy'

[08] FinMin in Australia: Greece is financial hub of SE Europe

[09] OA, pension fund assets management issue

[10] SE European region to attract energy investments of 30 bln euros by 2020

[11] Trade unions threaten reprisals over structured bonds issue

[12] Commissioner congratulates Greek minister over oil pipeline deal

[13] Greek Businessmen's Union president on education, public administration

[14] Meeting between Piraeus Chamber of Commerce and Industry and Spanish embassy official

[15] Piraeus Bank says 2007 profits more than 550 mln euros

[16] Eurobank to pay 0.92 euros per share dividend to shareholders

[17] Alpha Bank to pay 0.75 euros per share dividend to shareholders

[18] Intralot signs 18-mln-Australian dollar contract with Lotterywest

[19] Katselis Group says 2006 EBITDA 7.7 mln euros

[20] Aspis Insurance reports improved 2006 results

[21] Greek stocks end up 0.51 pct

[22] ADEX closing report

[23] Greek bond market closing report

[24] Foreign Exchange Rates - Wednesday

[25] BSEC public administration ministers' meeting

[26] Concert to mark 10th anniversary of 'Ecumenical Hellenism' Programme

[27] Probe into downed Helios airliner resumes

[28] Aristotle University tops Greek schools in Erasmus participation

[29] Drug trafficking arrests at port, Ioannina prefecture

[30] Body of woman identified as ND deputy's missing sec't

[31] One million-plus fireworks found in raid on man's home

[32] Policeman injured during car chase, shootout

[33] Rainy, windy on Wednesday

[34] The Tuesday edition of Athens' dailies at a glance

[35] Cyprus FM surprised by T/C stance on new measures for T/Cs

[36] Syrian Minister: We recognize Cyprus' legal ports and airports

[37] Avramopoulos expresses Greece's solidarity with Cyprus Politics

[01] Cabinet discusses policy and action for gender equality

Interior Minister Prokopis Pavlopoulos briefed cabinet members on the actions and initiatives carried out by the General Secretariat for Equality under the plan, summarising what he said were its most important achievements during this period.

Among them he highlighted the passage of a law to promote equal treatment of men and women in terms at work, under which sexual harassment is for the first time treated as sexual discrimination in the workplace. The minister also pointed to the creation of a special ombudsman to monitor whether sexual equality was observed in practice in the private and public sectors and cited the creation of a National Commission for Equality between Men and Women.

Pavlopoulos highlighted new laws that aim to further protect women from violence, providing them with greater legal protection against the three types of violence that most frequently affect women: domestic violence, the illegal trade in women and sexual harassment at work. Among these were measures to protect foreign victims of human trafficking, most of whom are women, with provisions to provide and extend visas allowing them to remain in Greece.

During its term, the government also abolished a 15 percent quota for hiring women in the municipal police while a new employee code extended rights to parents, including fathers, to work shorter hours or take nine months paid leave, as well as providing major assistance to one-parent families and families with four or more children, the minister noted.

Other steps to promote gender equality included the first-ever social consultation with employer organisations and the Athens Chamber of Industry and Commerce that culminated in the signature of a cooperation protocol for promoting equal opportunities for men and women in business and the signing of a cooperation memorandum with the Network of Businesses for Corporate Social Responsibility that again seeks to promote gender equality in enterprises.

Regarding the ministry's future action in accordance with the National Reforms Programme of 2005-2008, which implements the Lisbon Strategy, Pavlopoulos called for further strengthening and activating infrastructure to combat domestic violence and human trafficking.

He said that provision had already been made for funding these under the five Regional Operational Programmes from the end of 2007, while he proposed drafting a plan for government actions to prevent and supress abuse of women.

Finally, Pavlopoulos pointed to action to support vulnerable groups of women that are subjected to multiple forms of discrimination, such as immigrants, Roma and victims of abuse. He said the General Secretary for Equality was launching a widespread campaign to inform the public and had initiated specially subsidised programmes in collaboration with local authorities and the employment ministry to assist them.

[02] Bakoyannis comments on Iran crisis, after meeting PM

Replying to a question about Iran and rumours of a possible strike before Good Friday, the minister expressed hope that "the basic principle that will prevail in all countries of the EU is that problems are solved through dialogue and diplomacy, and that this is the only advisable course to follow with Iran as well."

"Iran has caused concern in the international community as a country, nevertheless the solution to these problems must be given through diplomatic avenues," she stressed.

[03] Gov't focuses on hooliganism issue, dissolution of fan clubs eyed

Other participants included representatives of the Greek Football Federation (EPO), the pro football and basketball leagues, lower divisions (primarily football and basketball) and other sports federations.

Meanwhile, another 16 defendants were scheduled to appear before a magistrate in Athens on Tuesday, following last week's widespread hooligan violence in an eastern Attica township (Peania), an incident best described as a "rumble", that left one 25-year-old man dead and several others injured.

In a later reaction, main opposition PASOK spokesman Petros Efthymiou charged that the government has failed in the three years it has been in power to implement a particularly strict law passed to combat hooliganism.

[04] Foreign and defence minister comments on bonds affair

He pointed out to reporters that he had already spent an hour-long television programme arguing that there were no political responsibilities connected to this issue, so it was illogical for people to conclude that he held Tsitouridis responsible.

Foreign Minister Dora Bakoyannis, on her part, stressed that it was not possible to pin individual responsibility on anyone without having the final conclusions of a serious and responsible investigation.

"For every problem that arises in a country, of course, there is collective political responsibility on the part of the government. The effort to individualise this responsibility, however, cannot be done except when there are serious and responsible findings," the minister noted.

"In a country such as Greece that is a democracy and with a New Democracy government the principle is simple: that the whole truth shine out, that the Greek people be informed and to create a legal framework that will not allow any kind of problem in the future," she added.

[05] PASOK leader highlights bonds issue at Parliamentary Council

According to the party's spokesman Petros Efthymiou, this would be achieved through initiatives for setting up an investigative committee in Parliament and the support of legal action taken by trade unions.

These initiatives "cemented" PASOK's position, which demanded that the money be returned to the funds before the elections, he added.

During his address, Papandreou accused the government of using its 'state audit' as a smokescreen to set up a mechanism for selling low and buying high, using social security fund reserves in a "major scam" that dated back to 2005.

He stressed that mass investment in the specific type of bond could not have been carried out "without the planning and knowledge of the finance and employment ministries" and said the prime minister bore "heavy and self-evident responsibility" for the creation and operation of the system that "gambled" with the money of ordinary workers.

The main opposition leader rejected the government's claim that the instance at the civil servants' supplementary pension fund TEADY was an exception, saying that there was a system in place that emerged from the heart of the government's policy, while he accused the government of "cynically and methodically" acting in ways that were contrary to the interests of social security fund reserves.

The developments in the bonds bought by the social security funds vindicated PASOK's position for early elections, he added.

In more general criticism, Papandreou accused the government and the ruling New Democracy party of attempting to manipulate all manner of public institutions, including the law and independent authorities, and of using state services and resources for its own ends and its own supporters.

Earlier on Tuesday, Papandreou met with a cross-party committee in charge of the promotion and preservation of all former sites of exile used to incarcerate political prisoners and the buildings that remain there, which included the MPs Sofia Voultepsi, Aris Mousionis, Vera Nikolaidou and Yiannis Dragasakis.

[06] Government spokesman on bonds affair

Roussopoulos said that in 2003 the total property of funds amounted to 21,862,925,000 euros, in 2004 25,637,662,000 euros and in 2005 28,912,787,000 euros, while in 2006 the amount is expected to exceed 31 billion euros.

"Meaning, that the property of funds increased over the past three years by 42 percent. It is reminded that from 1999 to 2002 the funds lost about 14 percent of their property from those who are posing as critics today. This is the truth that PASOK is concealing in trying to mislead citizens," Roussopoulos concluded.

Roussopoulos was responding to a statement by Efthymiou who said earlier in the day that "all the Greeks are aware, and it is now common knowledge, that the systematic plundering of funds has, until now, been documented at least 24 funds. All Greeks are calling for the truth to shine and for responsibilities, political, penal and civil to be attributed, wherever they are discovered."

Efthymiou added that "the only people who are unaware of this truth are the ministers of the Karamanlis government, who are judged for their actions."

[07] Event on 'Independent authorities in modern democracy'

Pavlopoulos, making a historic reference to the independent authorities, said that "on the basis of their origin, someone could describe the independent authorities as a cosmopolitan institution or even as a migration institution."

On his part, Venizelos went back in time, to 2001 and to the Revision of the Constitution, noting that "then, the independent authorities were deemed necessary due to the failure of the political system regarding the issuing of permissions for the functioning of free radio and television and the transparent hiring in the public sector."

Financial News

[08] FinMin in Australia: Greece is financial hub of SE Europe

Greece is the financial centre of Southeastern Europe, Greece's national economy and finance minister George Alogoskoufis said Tuesday at a press conference in Melbourne, during the minister's visit to Australia at the head of a large 100-strong business delegation.

"We will have significant results for Greek exports (to Australia), but also, chiefly, for the attraction of investments to Greece," he said, announcing that prime minister Costas Karamanlis will also visit Australia sometime in the next few months..

Significant agreements for the promotion of Greek products on the Australian market were reached during meetings between representatives of Greek enterprises taking part in the business delegation with their Australian counterparts.

Alogoskoufis announced that accords have already been finalised by two Greek olive oil companies with the large Australian supermarket chain Coles for the placement of the Greek products on the chain's shelves.

Similar agreements are also expected with another major supermarket chain, Woolworth's, Alogoskoufis continued, adding that very soon, such agreements are also anticipated for products other than foodstuffs, and namely in the sectors of construction materials, cosmetics and services.

Alogoskoufis noted that the Greek companies Petzetakis, Bright Special Lighting, Kores, APIVITA, Fashouse, Mevgal, Dionyssos and Mylelia were close to finalising agreements with Australian firms, adding great interest has been manifested by major Australian companies active in the fields of mineral mining, energy (including renewable energy sources), tourism and recreation.

In the context of further strengthening economic relations between the two countries, Australian business missions to Greece are anticipted in the coming months, as well as events for the promotion of Greek products in Australia, including Greek participation in the Fine Foods exhibitions in Sydney and Melbourne with the Hellenic Exports Promotion Board's (HEPO) popular "Kerasma" (Treat) initiative. A Greek Cuisine Festival was also held during Alogoskoufis' visit to Melbourne, in the context of the Kerasma initiative, at a top-class restaurant in Melbourne with the participation of renowned chefs.

Alogoskoufis said the fact that there was no direct flight between Athens and Australia was a "big deficiency". He said it was the government's intention to ensure such a connection, adding that this was linked with Olympic Airlines' (OA) evolution and completion of the discussions currently being held with the European Union on that issue. He further said that the issue was also linked with the strengthening of the role of Athens' Eleftherios Venizelos International Airport as a hub linking Europe with Asia and Australia.

Turning to other sectors, Alogoskoufis noted the successful way in which the Australian government was capitalising on the 2000 Olympic Games in Sydney by organising important sport and cultural events. He said Greece will take advantage of the Australians' experience, noting that the organisation of the European Basketball Championship Final Four and the Champions League soccer final in Athens this year was part of that effort.

Major events, in the framework of that context, were also being organised by other agencies, such as the Megaron-Athens Concert Hall, Alogoskoufis said, and announced that the government was mulling the prospect of not dissolving the "Athens 2004" organisation but evolving it instead into an events organiser.

In addition, Alogoskoufis announced that the signing of an agreement allowing the transfer of pension rights of Greeks currently living in Australia who return to Greece, so that Greek Australians who travel to Greece for more than six months will not lose their pensions. The relevant accord is expected to be ratified by premier Karamanlis during his visit to Australia.

He added that the provision of absentee voting was also being advanced for Greeks living abroad, beginning with the elections after the next national polls.

Meetings

Alogoskoufis met in Melbourne with Victoria State Treasurer John Brumby.

Speaking to reporters after the meeting, he said:

"In the framework of promoting the extroversion of the Greek economy, and following very successful visits and business missions to many countries throughout the world, including Japan, China and India, we are in Australia this week, during which we will have meetings with the federal government, while we've already had meetings with the Victoria State government-- as you know, Australia is a federal country, with a government in each State. Victoria is one of the biggest States of Australia, and Melbourne is Australia's financial centre. We had a very successful business conference, attended by very large Australian enterprises, which met with Greek enterprises. I believe that we will have significant results for Greek exports and, mainly, for the attraction of investments to Greece."

"What we are making clear to everyone is that Greece is not an isolated economy at the southeastern tip of Europe. It is the hub of a wider region, that of Southeastern Europe, a region of 140 million inhabitants, with very great developmental prospects. Greece is the financial centre of this region, has the best infrastructures, has been a member of the European Union for many years, has very great prospects, due to its ports, for the development of trade in this entire region, and I believe Greece has significant business opportunities. This is what we are stressing to our Austrlian friends, to the Australian enterprises, and I believe that we will have very positive results," Alogoskoufis said.

Alogoskoufis further met Tuesday with Victoria's state minister for industry and state development and small businesses, Theo (Fanos) Theophanous, while on Wednesday he is scheduled to meet with Australian Treasurer (national economy minister) Peter Costello, whom he will formally invite to Greece.

On Thursday, Alogoskoufis will go to Sydney for talks with state ministers of the New South Wales government

[09] OA, pension fund assets management issue

"Possibly, there are isolated cases where some managements were ignorant (of the problem) or were mislead. Some weaknesses were revealed of a specific fund, but we have already taken measures and placed under restriction the types of investments (of social insurance funds' reserves) that may be made," he explained.

Alogoskoufis reiterated that it was the government itself that revealed the specific case in question, adding that it dealt with the problem and will not allow risky investments to be made in the future.

On the issue of the ailing national carrier Olympic Airlines (OA), Alogoskoufis said that "if it was exclusively up to the government, it would have resolved it". "It is a complex problem, and requires the cooperation and approval of the European Union," he explained, adding that he expected the matter to be resolved "soon".

"We are in the process of negotiations, and do not know precisely how much (money) OA owes or how much the state may prospectively owe to OA. When the situation is cleared up, it (OA) will be denationalised," Alogoskoufis continued, adding that the most likely scenario was that OL would evolve into a European airline with emphasis on the Mediterranean region.

He noted, however, that one could not rule out the possibility that "the scheme that will undertake it (OA) may want to maintain the air link to the US, or to reinstante the flights to Australia, or introduce flights to China as well".

Alogoskoufis further said that he was optimistic on the future course of the Greek economy, and felt completely vindicated by his basic choices, such as the audit of the economy and the GDP revision. "In essence, the audit led to a condemnation of the economic policy of the previous (PASOK) government. The Greek economy could not continue to pretend that it had solved its fiscal problems when it had not solved them. The European Union now faces Greece with seriousness and credibility. There was no possibility that it would have treated us with partiality," he explained.

On the GDP revision in particular, Alogoskoufis said it was a technical matter. The calculation of Greece's GDP had been based on the 1981 census, and needed to be revised, he said.

"Indeed, these impressive figures arose. During those years significant changes had been marked in the economy that were not recorded in the official data," he said, adding: "The revision shows that the standard-of-living was higher than was being calculated. It also showed weaknesses in the collection of taxes, that a black economy existed, and problems in the social insurance funds, as well as social problems".

"Having a better picture, we are able to solve the problems in a better way. Transparency never hurt anyone. The major problems have been overcome, but caution is necessary," the minister continued.

In a statement to an Australian newspaper, Alogoskoufis noted the government's intention to sell 55 percent of its shareholdings in Athens Airport. For the time being, he explained, the Greek government was mulling the prospect of a sale. According to the newspaper, such a prospect was of interest to the Australian Infrastructure Fund (AIX), which holds a 5.3 percent interest via a strategic investment in the German Hochtief AirPort Capital (HTAC). AIX and HTAC are interested in full ownership of the Greek airport, the newspaper article continued, adding that the only problem appeared to be the fate of OA.

[10] SE European region to attract energy investments of 30 bln euros by 2020

Addressing a summit of energy ministers from countries included in Southeastern Europe Cooperation Process (SEECP) in Zagreb, Croatia, the Greek minister said the region could become a hub of energy product transportation, intervening in a traditional production-consumers chain.

Sioufas said he expected investments worth 30 billion euros to be made in the energy sector of the region by 2020 and noted that these investments would contribute in the progress of states and the people in the region.

Greece has made significant steps towards promoting energy cooperation in the region, the minister said, adding that "in cooperation with our neighbour country Turkey we are completing a Greek-Turkish natural gas pipeline in July 2007, while two months ago we signed with Italy a protocol to promoting an underwater natural gas pipeline project".

In his address, Sioufas said "together with Russia and Bulgaria we promote the construction of an oil pipeline", while he stressed that Greece has signed bilateral agreements with Albania and Egypt. "Our goal is to integrate energy markets in Southeastern Europe and the Mediterranean," he said.

The Greek minister underlined that the energy sector was offering the best opportunities for broadening cooperation between countries in the region, as well as economic growth.

Sioufas reiterated Greece's strong support to Southeast European states' efforts to entry the European Union.

[11] Trade unions threaten reprisals over structured bonds issue

This was the conclusion reached at a meeting held on Tuesday between the union federations making up the General Confederation of Employees of Greece (GSEE), Greece's largest umbrella trade union group representing private-sector employees, while a similar process was underway at the civil servants' union ADEDY.

GSEE president Yiannis Panagopoulos said the investment in structured bonds was riskier than buying shares on the stock market and amounted to "a long-drawn-out robbery of fund reserves".

Over the next few days, GSEE would seek to be briefed on the affair by the independent authority against money-laundering and by Parliament, Panagopoulos said.

He warned that trade unions would stay away from any kind of dialogue on social insurance reform unless the issue was resolved, and would make full use of all legal means to protect social security fund reserves if the government did not take back "this dangerous paper".

The slogan of the first strike action by the unions would "Give back the loot," he added.

ADEDY President Spyros Papaspiros announced that ADEDY will again file a suit over this issue and said he was against the appointment of social security fund managers by the Bank of Greece, underlining the responsibility "of institutions that are linked with the system that issued the structured bonds."

During ADEDY's meeting, meanwhile, he defended the trade unionists representing workers on social security fund boards. Though they were not just "decorative" and absolved of responsibility, neither were they "private eyes" who could nose out information that was not made available to them, he said.

Following a meeting on Tuesday with Coalition of the Left, of Movements and Ecology (SYN) leader Alekos Alavanos on the same issue, meanwhile, Papaspirou stressed that the scandal had helped to broaden the debate on the social security system - which had been moving in a neoliberal direction - and that the workers had an obligation to make use of this in order to affect developments.

"Not in the direction of further plundering of fund reserves by banking and stock market capital, or by restricting the rights of workers in terms of age limits and a series of such issues under discussion, but by a true re-organisation of social insurance and by guaranteeing the rights of ordinary people, the rights of people who work and toil, of pensioners and workers," he stressed.

According to Alavanos, it would be "offensive and sheer gall" if any political force in the country were to now propose solving the problems of social insurance funds through uninsured work for young people or an increase in the age of retirement or smaller pensions, in the wake of revelations that banks and other financial institutions were having a field day with the money from state pension funds.

SYN's president underlined the massive scale of contribution-evasion and the vast debts of both the public and private sectors to social insurance funds, while inspection mechanisms were "virtually non-existent".

He stressed that the recently exposed profit-making at the expense of social security fund reserves was beyond the pale and said it was inconceivable that peaceful students or environmental activists, such as those arrested on Sunday for trying to plant trees at Pedion tou Areos in central Athens, were being paraded before the courts in handcuffs while the "godfathers" of stock brokerages and big banks involved in this scandal were allowed to roam free.

"There are political responsibilities and an investigative committee must immediately be set up in Parliament. We believe that, immediately after Parliament's recess, the government must hold an off-the-agenda debate on the problem of the abuses that have been carried out and the plundering of fund reserves," he added.

[12] Commissioner congratulates Greek minister over oil pipeline deal

European Energy Commissioner Andris Piebalgs on Tuesday congratulated Greece's Development Minister Dimitris Sioufas over the recent agreement signed in Athens for the construction of the Burgas-Alexandroupolis oil pipeline.

In his address during the signing of the ministerial declaration for the construction of the European oil pipeline, which took place in Zagreb on Tuesday, in the framework of the energy ministers' conference participating in the South-East Europe Cooperation Process (SEECP), Piebalgs said that "I'm taking the opportunity to congratulate the Development Minister of the Hellenic Republic, Mr. Dimitris Sioufas, and Bulgaria's energy minister over the agreement for the construction of the Burgas-Alexandroupolis oil pipeline."

Piebalgs noted that "it concerns a project of enormous importance not only for the region, but also for the whole of Europe."

[13] Greek Businessmen's Union president on education, public administration

Mihalos also said that it needed a "qualitative upgrading of labour relations, the laying of foundations for an international competitive tax framework, a brave reform of the social insurance system and a drastic cutback in extravagance and corruption."

Setting out the action axes on which the organisation's new leadership plans to move, he said that EENE can and must aim at becoming an apparatus for producing innovatory business thought.

Mihalos assumed the leadership of EENE following the voluntary resignation of its 20-year-long president Thanassis Lavidas.

[14] Meeting between Piraeus Chamber of Commerce and Industry and Spanish embassy official

Kasimatis referred at length to Greece's economic and historic factors, as well as to those of Piraeus in particular and stressed that the further development of possibilities of business cooperation between the two countries "is evident and imperative."

Lastly, it was decided that the upcoming visit to Greece by the Spanish prime minister in mid-June should be accompanied by a business forum.

[15] Piraeus Bank says 2007 profits more than 550 mln euros

Sallas noted that 2007 was the first year of a four-year business plan announced by Piraeus Bank, which envisages a more than doubling of the bank's results by the end of 2010. The business plan aims for assets of 65 billion euros, a loan portfolio of 52 billion euros and net profits of 1.0 billion euros by 2010. Branch network is expected to surpass 900 units in Greece and abroad, with international activities accounting for at least 25 percent of group results.

Sallas said Piraeus Bank created more than 1,000 new jobs in the country and abroad, annually, for a total of at least 3-4,000 new jobs by the end of the four-year business plan. Piraeus Bank also expects annual net profits to increase by an average 24 percent in the period 2007-2010.

The shareholders' meeting approved a board plan to pay a 0.64 euros per share dividend to shareholders, up 60 percent from 2005.

[16] Eurobank to pay 0.92 euros per share dividend to shareholders

Eurobank's head, stressed, however, that bad debts (as a percentage of banks' portfolio) reached 6.0 pct in September 2006, almost double compared with Eurozone's average rate. "The issue must be dealt with a coordinated effort, both by the banking system and supervisory authorities, since high premiums burdened the cost of money and finally borrowers," Nanopoulos said.

Commenting on the course of Eurobank in the last decade, Nanopoulos said the bank's growth was mainly the result of organic growth and a rapid growth of figures. The bank's loans grew an average annual rate of 48 percent in the last decade, while customers' capital under management grew an average annual rate of 28 percent over the same period.

Eurobank operated a network of around 800 branches abroad last year. The bank aims to raise this number to more than 1,400 units by the end of 2009. Eurobank Group employs around 19,000 workers in Greece and abroad. Nanopoulos said the bank's activities in New Europe were expected to contribute at least 30 percent of total income and 20 pct of net profits of the group by 2009.

The general shareholders' meeting approved a board plan to pay a 0.92 euros per share dividend to shareholders, up 23 percent last year, and a plan to distribute two new shares for each 10 existing ones.

[17] Alpha Bank to pay 0.75 euros per share dividend to shareholders

Addressing the meeting, Dimitris Matzouranis, the bank's chief executive, said Alpha Bank's branch network would increase by 20 units this year and stressed that a total of 96 units were launched in foreign markets last year, to a total of 270 units. Matzouranis said the bank aims to raise its branch network to more than 500 units by 2008. Earnings from international activities totaled 70 million euros last year, or 9.0 pct of the bank's total earnings.

Yiannis Costopoulos, the bank's chairman, addressing the shareholders' meeting, said that Greek economic growth rates could be higher if it was not for hurdles limiting growth process the country. "Wage increases not connected with productivity are gradually worsening our economy's international competitiveness," Costopoulos said.

[18] Intralot signs 18-mln-Australian dollar contract with Lotterywest

The five-year contract, worth 18 million Australian dollars, has an option for an another five-year extension. Completion of the project is expected in March 2008.

[19] Katselis Group says 2006 EBITDA 7.7 mln euros

The group said its 2006 results were burdened with 520,000 euros in taxes for the financial years 2003, 2004 and 2005.

Katselis Group said both its consolidated and parent results for 2006 were not comparable with 2005.

[20] Aspis Insurance reports improved 2006 results

Net premium totaled 138.6 million euros in 2006, from 73.3 million in the previous year, for an increase of 89 percent, while after tax profits almost doubled to 4.04 million euros from 2.07 million euros over the same period, respectively.

Equity capital totaled 48.8 million euros in 2006, while assets jumped 25.8 pct to 532.6 million euros. Aspis Pronia said investments rose 29.38 percent to 459.2 million euros last year.

[21] Greek stocks end up 0.51 pct

Sector indices ended higher, with the Travel (2.41 pct), Personal/Home Products (2.26 pct) and Commerce (1.80 pct) indices scoring the biggest percentage gains of the day, while Raw Materials (1.92 pct), Utilities (1.0 pct) and Insurance (0.89 pc) suffered losses.

The Big Cap index rose 0.68 pct, the Mid Cap index eased 0.15 pct and the Small Cap index ended 0.15 pct higher.

Tria Alpha (17.50 pct), Ideal (12.04 pct) and Epilektos (10.94 pct) were top gainers, while MLS (7.77 pct) and Viosol (6.25 pct) were top losers.

Broadly, decliners led advancers by 132 to 122 with another 48 issues unchanged.

Sector indices ended as follows:

Insurance: -0.89%

Industrials: +0.55%

Commercial: +1.80%

Construction: +1.33%

Media: +0.11%

Oil & Gas: +0.32%

Personal & Household: +2.26%

Raw Materials: -1.92%

Travel & Leisure: +2.41%

Technology: -0.05%

Telecoms: +1.48%

Banks: +0.16%

Food & Beverages: -0.72%

Health: -0.35%

Utilities: -1.00%

Chemicals: +0.58%

Financial Services: +0.32%

The stocks with the highest turnover were National Bank, Alpha Bank, Piraeus Bank and DEH.

Selected shares from the FTSE/ASE-20 index closed in euros as follows:

Alpha Bank: 23.50

ATEbank: 3.80

Public Power Corp (PPC): 17.38

HBC Coca Cola: 30.18

Hellenic Petroleum: 10.74

Emporiki Bank: 20.50

National Bank of Greece: 39.52

EFG Eurobank Ergasias: 30.00

Intralot: 22.60

Cosmote: 23.00

OPAP: 29.38

OTE: 20.66

Titan Cement Company: 42.20

[22] ADEX closing report

The June contract on the FTSE 20 index was traded at a discount of 2.67 pct while the April contract on the FTSE 40 index at a discount of 0.36 pct.

Volume in futures contracts on the FTSE 20 index totaled 5,046 contracts worth 61.028 million euros, with 27,905 open positions in the market, while on the FTSE 40 index volume was 327 contracts worth 9.544 million euros with 1,237 open positions.

Volume in futures contract on equities totaled 6,549 contracts worth 5.508 million euros with investment interest focusing on National Bank's contracts (847), followed by Eurobank (247), OTE (436), PPC (316), Alpha Bank (671), Titan (401), Intracom (692), ATEbank (316) and Mytilineos (756).

Volume in stock repos was 2,517 contracts and in reverse stock repos 2,443 contracts.

[23] Greek bond market closing report

The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 1.415 billion euros, while the yield spread between the 10-year Greek and German bonds fell to 0.235 percent. The Greek bond yielded 4.30 percent and the German Bund 4.10 pct.

In the domestic interbank market, interest rates were largely unchanged. National Bank's overnight rate was 3.84 pct, the two-day rate was 3.86 pct, the one-month rate 3.86 pct and the 12-month rate 4.21 pct from 4.17 pct on Monday.

[24] Foreign Exchange Rates - Wednesday

U.S. dollar 1.346

Pound sterling 0.681

Danish kroner 7.511

Swedish kroner 9.438

Japanese yen 159.8

Swiss franc 1.640

Norwegian kroner 8.235

Cyprus pound 0.585

Canadian dollar 1.559

Australian dollar 1.654

General News

[25] BSEC public administration ministers' meeting

On his part, Deputy Minister Apostolos Andreoulakos referred to the importance of cooperation and know-how exchange when handling key issues of mutual interest for BSEC members. He also outlined the efforts and initiatives undertaken by the Greek government aimed at improving public administration through transparency, better services and good governance.

Andreoulakos pointed out that an effort is made on a daily basis to tackle public sector red tape, while increasing the productivity of civil servants and the quality of services provided.

Andreoulakos also briefed the BSEC ministers on the public sector effectiveness and productiveness evaluation system, the transparency in the hirings of civil servants and a new civil servants code.

The meeting takes place with the participation of BSEC public administration ministers from member-states, Albania, Armenia, Azerbaijan, Bulgaria, Moldova, Romania, Russia, Serbia, Turkey and Ukraine.

[26] Concert to mark 10th anniversary of 'Ecumenical Hellenism' Programme

The concert's proceeds will be allotted for the publication of the work "Greek Treasures in the World", which is incorporated in the Progamme's third cycle.

It concerns the publication of a luxurious series of works in which will be presented Greece's treasures which are in museums or in private collections throughout the world. The first volume of the publication will include Greek treasures on exhibit at the major European museums, such as the British Museum, the Louvre and the Berlin National Museum.

The publication, under the general supervision of Thessaloniki University professor Athanasios Angelopoulos, will circulate in 50,000 copies, in eight languages (Greek, English, German, Russian, Chinese, Italian, Spanish and Arabic).

Stavros Panoussopoulos is the president of the "Ecumenical Hellenism".

[27] Probe into downed Helios airliner resumes

According to the Cypriot daily "Fileleftheros", the depositions will be taken in early May.

Meanwhile, according to the same news report, Cypriot judicial officials will soon head to Britain to question a Helios Airways aircraft technician regarded as a key witness in the case. Investigators are still seeking information, nearly two years after the crash, into the airliner's maintenance records, particularly its cockpit instruments.

Helios Flight 522 crashed en route from Larnaca, Cyprus to Athens following a presumed loss of cabin pressure loss.

[28] Aristotle University tops Greek schools in Erasmus participation

Five-hundred and eighty students from the university have participated in the programme, while the school has received 475 students from other European institutions.

Amongst Europe's higher education institutions, Aristotle University placed third in terms of preference by visiting professors, while it occupied fourth place in terms of the number of professors taking teaching spots in other European universities.

Due to its popularity, the Greek university will be included in a special Erasmus publication to be distributed at the EU conference on Lifelong Learning in Berlin on May 7.

Greek delegation visits Frontex, Athens again pushes for EU coast guard

A merchant marine ministry delegation this past week visited Frontex, the Warsaw-based EU agency for the management of external borders, part of Athens' initiative for the establishment of a European coast guard corps.

The initiative aims at strengthening of coast guard forces' role in central and eastern Mediterranean to effectively handle any form of cross-border crime.

The Greek delegation met with Frontex executive director Ilkka Laitinen and discussed sea border protection as well as cross-border crime issues.

They also tackled the problem of illegal migration via sea lanes, and decided to proceed with the co-financing of the European operation POSEIDON II in pre-selected Greek sea regions and ports.

[29] Drug trafficking arrests at port, Ioannina prefecture

In an unrelated incident, border guards arrested an Albanian man and confiscated 84 kilos of cannabis in his vehicle, following a high-speed chase near the Negrades site in northwestern Ioannina prefecture, reports state.

Additionally, two Albanian nationals were arrested at the Kryoneri-Kakavia intersection in Ioannina after police seized almost 47 kilos of cannabis in a vehicle. A compatriot reportedly serving as a 'look-out' was also arrested.

All four were taken before a prosecutor in Ioannina.

Finally, police on the Dodecanese island of Rhodes seized a massive quantity of undeclared fireworks following a search of a residence and the vehicle of a 53-year-ol local man.

[30] Body of woman identified as ND deputy's missing sec't

The 39-year-old woman and the man had reportedly borrowed MP Simos Kedikoglou's official vehicle earlier in the evening.

A preliminary investigation is underway.

[31] One million-plus fireworks found in raid on man's home

They said 3,600 firecrackers were first discovered in the man's car, while a search of his house revealed another 1,119,400 aerial fireworks and firecrackers, as well as other items.

The 68-year-old will be charged after an investigation revealed that the contraband items were destined to be sold.

Use of fireworks and firecrackers - often home-made and used without taking proper safety precautions - after the midnight mass on Easter Sunday is a time-honoured tradition in Greece, while several, often life-threatening accidents involving their uncontrolled use are reported every year around the holiday.

[32] Policeman injured during car chase, shootout

One of the two suspects was arrested after a getaway car crash on Vouliagmeni Avenue near the coastal district of Glyfada, while the other was arrested by policy a short distance away after he fled on foot.

The two suspects, 29 and 24, are convicted felons, police said.

Weather Forecast

[33] Rainy, windy on Wednesday

[34] The Tuesday edition of Athens' dailies at a glance

ADESMEFTOS TYPOS: "Communications body in the government - Finally, they're beginning to understand the problem".

APOGEVMATINI: "Divorces sweeping - One in four marriages falling apart, according to data by the National Statistics Service (ESYE)".

AVGHI: "ND paying the price for the bonds, but PASOK not profiting, according to opinion polls".

AVRIANI: "Karamanlis must chop off heads and go quickly to elections - With the bonds scandal, the Simitis system scammers, who looted all the Greeks in the major Athens Stock Exchange scam, are now raising their heads".

CHORA: "OEK (Workers' Housing Organisation) agreement with Agricultural Bank: Cheaper home loans for 200,000 beneficiaries".

ELEFTHERI ORA: "Today (Tuesday), in meeting chaired by deputy culture minister for sports (George Orfanos), it will be decided whether the Championship will be ...orphaned...of fans".

ELEFTHEROS: "Those who have looted the money of the insured will not get away - Deputy economy minister Petros Doukas livid over the bonds affair".

ELEFTHEROS TYPOS: "We're growing older and changing - Big changes in the composition of the population".

ELEFTHEROTYPIA: "The '300' of the battle of Peania - Depositions that indicate organised 'military' deployment - Knife-wielders, junkies, 'pure sport fans' ".

ESTIA: "Inevitable political decline - Why the difference between ND and PASOK has decreased".

ETHNOS: "Chaos with the hirings in the PPC (Public Power Corporation) - Gaffe in the proclamation (of the hiring competition) - The competition from the beginning".

KATHIMERINI: "We went for a rumble, and not for the match...- This is what the hooligans said about the Peania killing".

LOGOS: "SOS over Greece's ageing population - ESYE: 11,082,751 the population in 2005".

NIKI: "It's dragging Karamanlis under - The scandal in the Funds gnawing away' at his popularity".

RIZOSPASTIS: "The popular strata don't fit between ND and PASOK - Criteria for each party, its policy and practice first of all in the field of the economy".

TA NEA: "Two packages of 7.6 million euros to the 'Akropolis' brokerage - Mad dance of commissions".

TO VIMA: "Revelation: The secret of the 'secret bond' - What the finance ministry (should) knows".

VRADYNI: "New salary scale for the military".

Cyprus Affairs

[35] Cyprus FM surprised by T/C stance on new measures for T/Cs

Cyprus Foreign Minister George Lillikas said here Tuesday he was surprised by the Turkish Cypriot side's response to the new measures submitted to the EU by the Cyprus government, aiming to economically strengthen Turkish Cypriots.

The new set of measures was submitted last week by Cypriot government after Lillikas' meeting in Bremen with German Foreign Minister Frank Walter Steinmeier, whose country holds the EU rotating Presidency.

Earlier Tuesday, Turkish Cypriot leader Mehmet Ali Talat's spokesman Hacan Ercakica said these measures ''smell enmity.''

''What surprises me and I cannot understand is how can proposals, which aim at developing mutual economic interests, be considered as smelling enmity,'' Lillikas said, invited to comment on Ercakica's statements.

He added that it would be best for the Turkish Cypriot side to look into the proposals submitted and study them before expressing its position on them and to leave the Turkish Cypriots themselves to assess them.

Meanwhile, Lillikas said the Greek Cypriot side has not yet received any document with the positions of the Turkish Cypriot side regarding the July 8 agreement.

Ercakica said today the document was presented to UN Secretary General's special representative to Cyprus Michael Moller and will also be presented to the UN Secretariat in New York.

''When we receive it we will study it and we will make our comments,'' Lillikas said replying to questions.

On July 8th 2006, Cypriot President Tassos Papadopoulos and Turkish Cypriot leader Mehmet Ali Talat met in the presence of former UN

Undersecretary General Imbrahim Gambari and agreed to begin a process of bicommunal discussions on issues that affect the day-to-day life of the people and those that concern substantive issues. The Republic of Cyprus entered the EU in May 2004.

The island has been divided since 1974 when Turkey invaded and occupied its northern third.

[36] Syrian Minister: We recognize Cyprus' legal ports and airports

Syrian Transport Minister Yarob S. Badr assured that his country recognises only Cyprus' legal ports and airports.

�n official press release issued here Tuesday said Badr's assurances were given to Cypriot Minister of Communication and Works Haris Thrasou during a meeting they had in Syria, in the framework of Thrasou's three-day recent official visit to the country.

Thrasou raised the issue of ships of Syrian interests approaching Cyprus ports closed since the Turkish invasion of the island in 1974, as well as issues emerging from the operation of the illegal airport in Tymbou in the Turkish-occupied part of Cyprus.

''The Syrian Transport Minister reaffirmed the Syrian government's firm position and reiterated that his country recognises only the airports and ports operating legally in the Republic of Cyprus,'' the release said, adding that Badr said that he will reissue directives for the non-usage of illegal ports and airports in occupied Cyprus.

Thrasou and Badr signed an agreement for International Passengers and Goods Road Transport and discussed issues of their competency.

Thrasou said that the agreement sets the framework and the basis for the further development of transport activities between the two countries.

The two ministers also exchanged views on issues regarding Civil Aviation and Merchant Shipping and signed a relevant Memorandum.

[37] Avramopoulos expresses Greece's solidarity with Cyprus

Greek Health and Social Solidarity Minister Dimitris Avramopoulos expressed here Tuesday the unreserved

solidarity of the Greek government and the Greek people with Cyprus.

Avramopoulos, who paid a two-day official visit to Cyprus during which he signed with his Cypriot counterpart Haris Charalambous a protocol of cooperation in the field of Heath, was received Tuesday by Cyprus President Tassos Papadopoulos, House President Demetris Christofias, the Primate of the Cypriot Church Archbishop Chrysostomos II and had separate meetings with the leaders of the right-wing Democratic Rally (DISI), the Social Democrats Movement EDEK, the Environmentalists Movement, and former President of Cyprus Glafcos Clerides.

In statements after his meeting with President Papadopoulos, Avramopoulos praised the level of cooperation between the governments of Cyprus and Greece.

''Cyprus moves forward with security and confidence, with the full support of Greece, in a spirit of good cooperation and understanding, and has the lead in taking major decisions, with the unreserved support of the Greek government and of the Greek people,'' he said.

Speaking after meeting Avramopoulos, Christofias said the Greek Health Minister's visit ''opens new prospects of cooperation between Cyprus and Greece the field of Health as well.''

On his part, Avramopoulos said that ''Cyprus is united with Greece through the European Union,'' and expressed hope that the dream for a single and undivided Cyprus will become true and the ''other part of the island will also be integrated to the EU for the sake of its inhabitants, Greek Cypriots and Turkish Cypriots.''

Cyprus has been divided since 1974, when Turkish troops invaded and occupied 37% of its territory.

Referring to the protocol he signed with Cypriot Health Minister Haris Charalambous, Avramopoulos pointed out that this serves the social needs of Cyprus and Greece, adding that the protocol also addresses issues of social solidarity.

''From now on the road is open to see all those agreed with regard to research, bio-technology, exchange of experiences in health system administration be materialized,'' he concluded.

36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana-mpa.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: GEORGE TAMBAKOPOULOS

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