Athens News Agency: News in English, 01-08-22

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

CONTENTS

[01] Thessaloniki Water Board to hold IPO on August 24-29

[02] Foreign exchange rates - Thursday

[03] Weather Forecast: Unsettled on Thursday

[04] Illegal migrants - Kos

[05] Greek stocks move cautiously higher on ASE

[06] Greece aims for 200 billion drachmas budget surplus this year

[07] Greece - FYROM - NATO mission

[01] Thessaloniki Water Board to hold IPO on August 24-29

State-owned Thessaloniki Water Board is to hold an initial public offer (IPO) on August 24-29, seeking entry into the main market of the Athens Stock Exchange.

If the IPO is successful, the state will be left with 74.55 percent of stock. Company workers and management will own 1.21 percent, and the public 24.24 percent.

The firm expects to show net earnings before interest and amortisation of 7.9 billion drachmas in 2001 on turnover of 15.8 billion drachmas, the water board's president, Christos Tsongas told a presentation before the IPO.

In 2000, profit before tax and amortisation totalled 3.8 billion drachmas on sales of 10.1 billion drachmas, Tsongas said.

Under a five-year investment plan worth 26.8 billion drachmas, the company will improve the Thessaloniki prefecture's water supply network, replacing 300 kilometres of pipes, or 25 percent of the whole network.

[02] Foreign exchange rates - Thursday

Indicative buying rates

U.S. dollar 366.792

German mark 172.829

French franc 051.531

Pound sterling 534.342

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 45.381

Swedish kroner 35.691

Finnish mark 056.852

Spanish peseta 002.032

Portuguese escudo 001.686

Japanese yen (100) 306.209

Swiss franc 222.392

Norwegian kroner 041.677

Cyprus pound 589.237

Canadian dollar 236.845

Australian dollar 197.513

[03] Weather Forecast: Unsettled on Thursday

Changeable weather is forecast on the mainland, in the Ionian and in the northern Aegean on Thursday with cloud intermittently turning to showers or storms, mainly from afternoon. Winds northerly, light to moderate, turning strong in the Aegean. On the northern mainland, temperatures will range from 18C to 32C; on the rest of the mainland from 20C to 35C; and in the islands from 22C to 32C. Unsettled in Athens, with temperatures between 22C and 35C. Same in Thessaloniki, with temperatures from 21C to 32C.

[04] Illegal migrants - Kos

Coast guard officials on Wednesday reported 36 more arrests of illegal immigrants attempting to land on the Dodecanese island of Kos, as more than 100 migrants were intercepted in the greater eastern Aegean region over the past five days.

In the latest incident, a Turkish-registered fishing boat loaded with 21 Iraqi migrants was intercepted one nautical mile off Kos Aghia Irini beach just after midnight early Wednesday morning following a brief chase.

Besides the illegals, the 51-year-old Turkish skipper of the trawler ?Hevesim Mercan? identified as Mehmet Kadir Karatosun was also arrested.

Another 15 illegals, all attempting to land on the island using three inflatable dinghies, were detained a few hours later off another Kos shoreline.

[05] Greek stocks move cautiously higher on ASE

An improved climate in European bourses combined with renewed buying interest for Hellenic Telecoms' shares counterbalanced pressures from declining bank stocks and helped the Greek stock market to a higher closing on Tuesday.

The general index fell as much as 0.90 percent to 2,663.35 points early in the session but the announcement of positive economic news in Germany led to a recovery in other European bourses and encouraged buying in the Greek market.

The index finally ended at 2,691.12 points, up 0.13 percent, near its day's highs of 2,699.13. Turnover was an improved 104.51 million euros, or 35.61 billion drachmas.

The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 1,493.53 points, off 0.18 percent, the FTSE/ASE 40 index rose 0.16 percent to 310.87 points and the FTSE/ASE SMALLCAP 80 index ended at 899.84 points, off 0.01 percent.

The parallel market index for smaller capitalisation stocks ended at 266.15 points, up 0.40 percent.

Broadly, advancers led decliners by 156 to 149 with another 52 issues unchanged.

[06] Greece aims for 200 billion drachmas budget surplus this year

This year's budget will show a surplus of 200 billion drachmas, or 0.5 percent of the country's gross domestic product, National Economy and Finance Minister Yiannos Papantoniou said on Wednesday.

Speaking to reporters after a meeting with Prime Minister Costas Simitis and other government officials, Papantoniou forecast that economic growth would speed up in 2002 and that the budget surplus would also grow.

"We briefed the prime minister over economic developments, a process of drafting next year's budget, an updated stability and development programme for the period 2002-2004, and a need to have a clearer view of economic developments in the next three years to determine the basic lines of our economic and social policies, to be announced by the prime minister at the Thessaloniki International Trade Fair early next month," Papantoniou said.

Papantoniou said that tax revenues were progressing according to plan, public spending were contained and said he was confident that the budget surplus of 200 billion drachmas would be achieved.

[07] Greece - FYROM - NATO mission

A large portion of the 350-strong Greek contingent set to participate in a crucial NATO mission to collect rebel weapons in the Former Yugoslav Republic of Macedonia (FYROM) leaves on Thursday for the strife-torn country.

The 525nd motorised battalion, comprised of 200 troops, will depart from its northern Kilkis prefecture base in the morning. The remainder of the Greek contingent will follow in two to three days.

In a related development, Greek Foreign Minister George Papandreou will meet with his visiting FYROM counterpart Ilinka Mitreva on Thursday morning at the Greek foreign ministry in downtown Athens.

Statements to the press are expected after the meeting.

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