Athens News Agency: News in English, 00-03-21

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

CONTENTS

[01] Bank of Cyprus-Greece

[02] National Bank of Greece-Dealing Room

[03] Foreign Exchange Market-Close

[04] Secondary Bond Market-Close

[05] Cargo Shipowners-Bourse

[06] Foreign Exchange Rates-Wednesday

[07] Weather Forecast-Wednesday

[08] Turkey - Military - Sources - Missiles

[09] ADEX-close

[10] ASE-close

[11] Turkish - Airlines - Thessaloniki

[01] Bank of Cyprus-Greece

The Bank of Cyprus is planning a major expansion of its activities in Greece under a new five-year investment plan, its general director, Andreas Iliadis, told a news conference on Tuesday.

At the end of 2004, the bank intends to run 150 branches in Greece from 40 by the end of 2000, and to take more than 5.0 percent of the domestic market, said Iliadis, the Bank of Cyprus' head in Greece.

[02] National Bank of Greece-Dealing Room

National Bank of Greece Governor Theodoros Karatzas on Tuesday presented to reporters the bank's new dealing room, the largest in the Balkans.

The new unit is divided into two sections; money market, foreign exchange, debt market and derivatives for the bank's account; and the same operations carried out on behalf of customers.

[03] Foreign Exchange Market-Close

The drachma gained on the euro and and on the US dollar in the domestic foreign exchange market on Tuesday, dealers said.

At the central bank's daily fixing, the euro was set at 333.850 drachmas from 333.860 drachmas a day earlier.

[04] Secondary Bond Market-Close

Bond prices in the domestic secondary market edged up in buy-oriented trade on Tuesday but turnover was low, traders said.

Players mostly showed interest in old five-year bonds in the wake of an auction the same day of paper with the same term that drew institutional investors from abroad.

[05] Cargo Shipowners-Bourse

PIRAEUS (ANA) - The Union of Mediterranean Cargo Shipowners welcomed in principle a change planned in bourse regulations that would allow sector firms to seek listing, its president, Nikos Varvates, said on Tuesday.

But entry criteria to the Athens Stock Exchange should not be based on the number of ships owned by a company or their tonnage, Varvates told the union's assembly.

[06] Foreign Exchange Rates-Wednesday

Following are indicative foreign exchange buying rates for commercial banks, released by the central bank for the next working day.

Wednesday's rates

Euro 331.179

U.S. dollar 340.931

[07] Weather Forecast-Wednesday

Cloud and sleet are forecast throughout the country on Wednesday, turning to snow on high ground and in low-lying areas of central and northern Greece. Storms are expected in the Aegean.

Adverse weather conditions on the mainland will ease off from evening.

[08] Turkey - Military - Sources - Missiles

ISTANBUL (ANA � A. Kourkoulas) � Some quarters of the Turkish military establishment are apparently disturbed over the expected installation of radar-guided defensive missiles on Greece�s eastern Aegean islands, sources in Ankara report.

Such anti-aicraft/anti-missile systems� radars would conceivably overlap portions of western and southwestern Asia Minor, the focus of Turkish generals' concern.

The same sources claimed that despite the recent thawing in Greek-Turkish relations and an upgraded climate of cooperation in several sectors, some Turkish armed forces officials believe Athens remains ?hesitant? over the prospect of talks on military and security matters.

According to the same sources, Ankara has expressed its annoyance over the matter to Washington, which in turn is allegedly ?pressuring? both countries for a peaceful resolution of differences.

[09] ADEX-close

Derivatives prices ended lower on the Athens Derivatives Exchange on Tuesday, following losses in the two benchmark indices, FTSE/ASE 20 and FTSE/ASE 40, which ended 1.29 pct and 3.73 pct down.

A total of 1,248 futures contracts were traded on the FTSE/ASE 20 index, with a turnover of 6.6 billion drachmas. The April expiring contract ended at 2,665 points, the May contract at 2,682 and the June contract at 2,705 points.

A total of 805 futures contracts were traded on the FTSE/ASE 40 index, with a turnover of 2.3 billion drachmas. The April expiring contract ended at 728.50 points, the May at 739.50 and the June contract at 760 points.

[10] ASE-close

Equity prices ended sharply lower on Tuesday hit by a wave of profit taking and lack of follow-through buying after a four-day rally which pushed the Athens Stock Exchange 6.75 percent higher.

Smaller capitalisation stocks came under heavy pressure followed by shares in the construction sector.

Dealers attributed the Tuesday's fall more to lack of buying interest than to share offering.

The general index ended at 4,755.42 points, off 1.93 percent. Turnover was a low 185 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks dropped 1.29 pct to 2,664.24 points, while the FTSE/ASE 40 index fell 3.73 pct to 724.41 points.

The parallel market index ended at 933.39 points, 7.05 percent.

[11] Turkish - Airlines - Thessaloniki

Turkish Airlines will inaugurate twice-weekly flights between the northern Greek port city of Thessaloniki and Istanbul on Wednesday.

The Turkish national carrier�s first 100-seat passenger jet will arrive at the city�s Macedonia Airport 2:30 p.m., carrying airline executives and journalists. A press conference will follow at a downtown Thessaloniki hotel.

The airlines, called ?Havayollari Delvet Isletme Idaresi? in Turkish, was founded in 1933 in Ankara. The carrier�s first flight linking Greece to Turkey was recorded in 1947.

The Thessaloniki-Istanbul connection was up until recently only flown by Greece�s state-owned Olympic Airways.

The flights are scheduled for Wednesday and Saturday, departing at 8:20 a.m. from Istanbul to Thessaloniki, and at 10:20 a.m. from Thessaloniki to Istanbul.

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