Athens News Agency: News in English, 11-07-15

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

CONTENTS

[01] FinMin's omnibus bill tabled

[02] Debut of annual summer sales

[03] Culture Minister in Moscow

[04] LARCO back to profitability

[05] Athens Newspaper Headlines

[01] FinMin's omnibus bill tabled

The bill aims at tackling Greece's fiscal crisis, through considerable cuts in public spending. The bill also provides for the establishment of a special Department of Planning and Monitoring the Economic Policy Programs' implementation, which will be directly supervised by the Finance minister.

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[02] Debut of annual summer sales

The annual summer sales, which will run through August 31, provide consumers with the opportunity of purchasing products at discounted prices, with reductions reaching as much as 70 percent off the original prices.ana-mpa

Shop owners are looking to the sales to generate much-needed revenues, which have dropped sharply in recent months as a result of austerity measures that have caused shoppers to restrict purchases to the bare necessities.

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[03] Culture Minister in Moscow

"Our priority is 'responsible tourism' which respects the tourist and the United Nations Conference in Spain next September will deal with its development," Geroulanos told reporters after the talks.

The two ministers discussed the preparation of a common agenda regarding the UN's conference through the promotion of bilateral cooperation.

Mutko, on his part, said he was worried over the safety of Russian tourists in many countries, referring in particular to the recent poisoning of Russian citizens in Turkey. He also expressed the need for international cooperation aiming at the establishment of common criteria of safety for the protection of the tourists' lives and health.

The Russian minister also referred to the increased number of Russian tourists who choose Greece as their destination, a fact that confirms, as he said, the "historical and cultural ties between our two countries."ana-mpa

The two ministers' talks also focused on the Sochi 2014 Winter Olympic Games, with the Russian side expressing interest in bilateral cooperation during the preparations of the Games as well as during their holding.

Geroulanos pointed out to a considerable increase in the granting of visas at the Greek consulate in Moscow during the first half of 2011.

"This is a good sign, which shows that we will exhaust all possibilities of the Schengen agreement so as to allow Russians citizens who wish to visit Greece to be able to do it without difficulties," the Greek minister added.

Caption: ANA-MPA/EPA file photo of a view of Moscow/SERGEI ILNITSKY

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[04] LARCO back to profitability

The company returned to full production capacity in the second half of 2010, with sales soaring 142 pct to 239.5 million euros, taking advantage of increased international demand and an improved market price for nickel, with nickel production up 68.8 pct. ana-mpa

EBITDA totaled 12.4 million euros in 2010, after losses of 68.1 million euros in 2009, while interest payments grew 47 pct to 7.8 million euros. Pre-tax earnings totaled 6.4 million euros, after losses of 105.5 million and 116.3 million euros in 2009 and 2008, respectively.ana-mpa

Larco said its recovery was continuing in the current year, predicting a significant increase in its turnover in 2011. The company said it has paid in full all debt to suppliers, while orders were progressing smoothly. Its cooperation with banks has returned to normal and short-term debt to banks was either paid or rescheduled to long-term debt. The Greek state owns 55 pct of Larco.

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[05] Athens Newspaper Headlines

The Finance Ministry's omnibus bill tabled in parliament on Thursday and Finance Minister Evangelos Venizelos reassurance that the country will not go bankrupt, mostly dominated the headlines on Friday in Athens' newspapers.

AVGHI: "Gov't being dragged to 'selective bankruptcy'."

AVRIANI: "Venizelos rules out bankruptcy".

ELEFTHEROS TYPOS: "New cutbacks in salaries and pensions".

ELEFTHEROTYPIA: "Bank accounts guaranteed up to 2015".

ESTIA: "Statism the begetter of bankruptcy".

ETHNOS: "Clearance of outstanding tax issues now".

IMERISSIA: "14 billion euros development package via NSRF".

KATHIMERINI: "New tax clearance for all on the horizon".

NAFTEMPORIKI: "Disbursement of 14 billion euros of EU funds for public works accelerated".

RIZOSPASTIS: "The people will not pay to save capital from bankruptcy".

TA NEA: "New clearance for 500,000 professionals".

VRADYNI: "The children are playing..."

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