Athens News Agency: News in English, 01-01-08

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

CONTENTS

[01] PM Simitis-Professor Savvakis-Meeting

[02] Foreign Exchange Rates-Tuesday

[03] 2004 Olympics-Balkan news agencies-Angelopoulos-Daskalaki

[04] Weather Forecast-Tuesday

[05] Greece-trade balance

[06] Greece-listed companies

[07] Aluminium of Greece-shareholders' meeting

[08] ASE-close

[01] PM Simitis-Professor Savvakis-Meeting

Prime Minister Costas Simitis on Monday met with the professor of the University of Crete's medical faculty and researcher Haralambos Savvakis who, heading a group of colleagues at the university, has discovered a method enabling the amendment of man's genetically hereditary characteristics with the transfer of genes.

The method can contribute to the revelation of each gene's separate function, a development considered the greatest challenge after the decodification of the genes of man.

At a later stage, it is expected to be of considerable help for the gene therapy of many illnesses and is one of the most important scientific discoveries worldwide.

"I invited him because I wished to congratulate him and because I also wished to honour Greek researchers in his person. I also wished to show that, even in a limited framework, research is currently taking place in Greece which is competitive with research taking place in developed countries," the prime minister said.

[02] Foreign Exchange Rates-Tuesday

Tuesday's buying rates

for non-euro zone currencies

U.S. dollar 355.911

German mark 172.829

French franc 051.531

Pound sterling 534.174

Irish punt 429.202

Belgian franc 008.379

Luxembourg franc 008.379

Dutch guilder 153.389

Italian lira (100) 017.457

Austrian schilling 024.565

Danish kroner 045.280

Swedish kroner 037.858

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 305.769

Swiss franc 221.352

Norwegian kroner 040.735

Cyprus pound 586.065

Canadian dollar 237.837

Australian dollar 201.866

[03] 2004 Olympics-Balkan news agencies-Angelopoulos-Daskalaki

The head of the Athens 2004 Olympics organising committee (ATHOC) on Monday referred to the all-important ?regional dimension? of the upcoming Games, while briefing an international audience of news agency executives in the Greek capital on accelerated preparations for the massive undertaking.

?We know the goal the greatest Olympic Games of all times, set in the historic place of their birth; and having a successful homecoming for the Games that rekindle in the modern era the Olympic ideals of old,? ATHOC president Gianna Angelopoulos-Daskalaki said, adding:

?? I envision a team that crosses the borders of Greece to encompass citizens in neighbouring states who want the attention of the Olympics to shine more broadly on a region that is at peace and advancing. No region deserves the fruits of peace as does the Balkans in this time of our history,? the high-profile 2004 head said.

Angelopoulos-Daskalaki spoke at the first day of a two-day seminar in Athens entitled ?Sports and Olympic Games coverage in the Digital Era?. The seminar was organised and is being hosted by the Athens News Agency (ANA), which holds the current rotating presidency of the Association of Balkan News Agency (ABNA).

[04] Weather Forecast-Tuesday

Cloud and rain or storms are forecast throughout the country on Tuesday, gradually easing off from the west. Winds southwesterly, strong to very strong, turning gale force at sea. Partly cloudy in Athens, likely to turn to showers in the morning. Temperatures will range from 9C to 15C. Same in Thessaloniki, with temperatures from 8C to 11C.

[05] Greece-trade balance

Greece's current accounts deficit soared to 1.508 billion euros in the September-October period, up 683 million euros from the same period in 1999, reflecting a widening of the trade deficit, Bank of Greece's figures showed on Monday.

The central bank said that over the same period the transfer balance's surplus eased significantly while the balance in services showed a bigger surplus.

A widening in the trade deficit reflected a higher cost of imported fuels, electronic goods, cars, machinery, ships and iron and steel products.

The country's services balance improvement reflected increased net revenues from travel and transport services.

Greece's current accounts deficit totalled 6.127 billion euros in the January-October period, sharply up from 3.082 billion euros in the same period in 1999.

The financial transactions' balance showed a net inflow in the September-October period in all three basic investment categories. In the first 10 months of 2000, however, a net outflow was recorded in the direct and other investment categories and a net inflow only in the portfolio investment category.

The general governmnet's net liabilities fell by 300 million euros in the first 10 months of 2000 compared with the corresponding period the previous year.

The central bank's foreign exchange reserves totalled 15.3 billion US dollars at the end of November last year.

[06] Greece-listed companies

Listed industrial companies' share prices are undervalued and do not justify their positive sales and profits' prospects for the year 2001, the Federation of Listed Companies said on Monday.

Greek industrial companies ranked third in growth rates among the EU's 15 member-states last October, with a year-on-year production increase of 4.7 percent, sharply up from a 3.6 percent average increase in the European Union, a report said.

The Federation of Listed Companies expects that the activity of Greek industries would be positively affected by a series of factors in the firs six months of 2001, such as a significant increase in the country's gross domestic product growth rate to levels above the EU average, a decline in real interest rates, a fall in world oil prices and a correction in the euro/dollar rate.

It also urged for the implementation of international operation, administration and transparency rules in the Greek stock market and criticised the adopted measures in the country.

The Federation said it would consider a legal battle against stock market operation regulation both in domestic and EU authorities.

[07] Aluminium of Greece-shareholders' meeting

Aluminium of Greece's shareholders approved on Monday a contract with Pechiney Aluminium to adopt the euro currency to its accounting and the election of Iason Stratos as a board member in the company.

Addressing an extraordinary general shareholders' meeting, Stratos said he was optimistic over last year's results, saying their were "good".

[08] ASE-close

Equity prices ended the first trading session of the week sharply lower on the Athens Stock Exchange hit by lack of buying interest and selling in blue chip stocks.

Traders said the outlook of the market remained gloomy with analysts unable to predict an end to the market's current sharp decline.

The general index ended 2.27 percent lower at 3,145.02 points, off the day's lows of 3,136.72, to its lowest levels since early April 1999.

Turnover was a low 106.24 million euros, or 36.203 billion drachmas. The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 1.60 percent off at 1,821.01 points, and the FTSE/ASE 40 index plunged 5.36 percent to 357.11 points.

The parallel market index for smaller capitalisation stocks ended at 282.07 points, down 3.02 percent.

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