Athens News Agency: News in English, 00-02-01

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

CONTENTS

[01] Sotomayor - Return - Greek meet

[02] Stock market report

[03] Thessaloniki-port extension

[04] Turkey - Bosporus - Radars

[05] Greece-Turkey-Reppas

[06] EMU-Greece

[01] Sotomayor - Return - Greek meet

World champion high jumper Javier Sotomayor is expected to compete in an international track meet scheduled for Feb. 15 in the western Greek city of Patra, Greek athletics officials said on Tuesday.

The Cuban Olympic gold medallist's participation would mark his first return to competition since being found positive for cocaine during the Pan-American Games in Winnipeg last summer and his subsequent suspension by the IAAF. That suspension, however, is pending as present, as the Cuban federation acquitted Sotomayor of any wrongdoing, leading the case before a committee of arbitration. To compete, the world record holder would need the IAAF�s approval.

Greek officials and champion high jumper Lambros Papakostas said they have received verbal approval from the IAAF, but are awaiting the international federation's written response.

[02] Stock market report

An ECOFIN approval to Greece's updated convergence programme combined with positive comments made by National Economy Minister on efforts made to achieve convergence criteria, boosted sentiment on the Athens Stock Exchange on Tuesday pushing equity prices higher.

Dealers also said the market was beginning to discount early general elections in the country.

The general index surpassed the 5,000 level to end at 5,141.83 points, up 3.04 percent, near the day's highs of 5,156, reflecting a rally in blue chip stocks.

Turnover, however, remained low at 210.27 billion drachmas. Traders said a rise in daily turnover was necessary to push the market higher.

The FTSE/ASE 20 index for blue chip and heavy traded stocks jumped 3.06 percent to 2,686.22 points while the FTSE/ASE MID 40 rose 1.67 percent to 921.09 points.

The parallel market index for smaller capitalisation stocks ended 0.90 percent higher at 1,514.59 points.

[03] Thessaloniki-port extension

The Greek government's ambition is to establish the port of Thessaloniki as a 'maritime gateway' for southeast Europe, akin to the role Amsterdam's port plays for the Atlantic, through a port extension project, Merchant Marine Minister Stavros Soumakis said on Tuesday.

Speaking at an inauguration ceremony of a project to extend the port's sixth pier by 600 metres, worth 1.6 billion drachmas, Soumakis said works would upgrade the port's ability to handle more cargo and larger vessels.

The project, raising the pier's total area to 350,000 square metres, is expected to be completed in four years. Funding will be 50 percent covered by the Third Community Support Framework, with the remaining 50 percent through Thessaloniki Port Authority's funds.

[04] Turkey - Bosporus - Radars

ISTANBUL (ANA � A. Kourkoulas) � Turkish shipping and maritime officials this week warned that a long-awaited project to install radars along the famed Bosporus Straits to aid vessels� navigation through the seaway has been delayed.

?The programme to install radars is delayed?resulting in the passage (of vessels) becoming dangerous,? Maritime Trade Chamber president Cengiz Kaptanoglou said, adding that the programme is still listed in the funding stage by Turkey�s finance ministry.

?The Montreux Treaty which governs the status of the Straits and ensures the free transit through the Straits was signed in 1936,? the president of the Turkish Foundation for Marine Research, Prof. Bayrak Ozturk, noted.

?The number of vessels that pass through the Straits has increased ten-fold since 1936, and as a result, many of the Montreux Treaty�s clauses cannot correspond to today�s conditions?the increase in accidents in the Straits is a result of heightened maritime traffic,? he added.

[05] Greece-Turkey-Reppas

The visit to Athens later this week by Turkish Foreign Minister Ismail Cem is another step towards the normalisation of Greek-Turkish relations, the government said on Tuesday.

Responding to press questions, government spokesman Dimitris Reppas said that improved relations with Turkey was desired by all.

Cem arrives in Athens on Thursday tosign a number of bilateral cooperation agreements. His Greek counterpart, Foreign Minister George Papandreou, was in Turkey on January 19-20 to sign the first five of the agreements.

[06] EMU-Greece

National Economy and Finance Minister Yannos Papandoniou said on Tuesday that Greece's bid to become the 12th member of economic and monetary union (EMU)required "careful and effective" handling in the next few months.

Speaking a day after the European Union's finance ministers approved the country's updated convergence programme, Papandoniou said that he was confident Greece would become a member of EMU on its own merits.

But the period between March - when the country formally submits its bid for EMU membership - and the EU summit in Portugal in June - when a formal decision is made - was critical and needed "effective handling", he said.

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