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Athens News Agency: Daily News Bulletin in English, 99-09-01Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next ArticleFrom: The Athens News Agency at <http://www.ana.gr/>CONTENTS
[01] Greece's long experience in Balkan problems valuable - HombachAthens, 01/09/1999 (ANA)The European Union's coordinator for the Balkan stability pact, Bodo Hombach, said on Tuesday that Greece could provide him with valuable assistance in his task because of the country's long experience in the region.Mr. Hombach, accompanied by Foreign Minister George Papandreou, was speaking to reporters after talks with Prime Minister Costas Simitis. "Greece can considerably assist me in my task because it has long historical experience in the Balkans, knows all the details, is a country which is well liked by the Balkan peoples, is familiar with their way of thinking and this knowledge is very impo rtant," Mr. Hombach said. Mr. Hombach said he would be travelling to Thessaloniki today with Mr. Papandreou and Deputy National Economy Minister Rodoula Zissi. Thessaloniki, he added, would be his second base after Brussels. The EU official said his talks with Mr. Simitis had also touched on Greek- Turkish relations which, he noted, were undergoing a period of decreased tension. "Europe means cooperation and therefore we must cultivate our common points in order for this cooperation to succeed," Mr. Hombach said. Mr. Papandreou said the aim of Mr. Hombach's efforts was for the peoples of the region to live in peace. "The Greek government will provide him with all possible assistance in his task," Mr. Papandreou added. Athens News Agency[02] London and Athens agree Turkey needs extra economic assistanceAthens, 01/09/1999 (ANA)Britain and Greece agree that after the recent devastating earthquakes Turkey needs extra economic assistance, and that ways to achieve this will be decided after discussions with the European Commission and the other EU partners, Deputy Foreign Minister Yiannos Kranidiotis said after talks with British Foreign Secretary Robin Cook in London yesterday.The two men also tackled Euro-Turkish relations, in view of Helsinki summit, and the Cyprus issue. In statements later, Mr. Kranidiotis highlighted the recent improvement in Greek- Turkish relations after the commencement of dialogue on "low-level" issues between the two countries, and the importance of developments in the broader region, with progre ss on the Middle East problem and the prospect of talks on the Cyprus issue. "Cyprus cannot remain an open wound, while the cirmustances are now particularly favourable for an effort to commence for a fair and viable solution," he said. Mr. Cook said particular emphasis was given on how the upcoming talks on the Cyprus issue would be crowned with success. "The British government, due to its historical ties with Cyprus, will work hard and will do everything possible for this process to succeed and for the problem to be solved in a way that meets the expectations of the entire population of the island, under a single sovereign government. Mr. Cook praised "the immediate and very generous response of the Greek people to the people of Turkey (after the recent earthquake) as well as the very hard work by the Greek rescue team". Athens News Agency[03] Inner cabinet to finalise tax relief tomorrowAthens, 01/09/1999 (ANA)The inner cabinet is due to meet tomorrow to finalise the details of tax relief promised by the government for 2000 along with cuts in indirect taxation to help lower inflation.According to sources, ministers will debate a tax-exempt limit for wage earners and pensioners on income earned this year of 2.0 million drachmas from the current 1.355 million drachmas. The following year, the ceiling would rise to 2.3 million drachmas or higher, the sources said. For other categories of taxpayer, the exemption would rise to 1.7 million drachmas in the first phase from the current 1.055 million drachmas. Prime Minister Costas Simitis is due to announce the government's changes to taxation in his annual economic policy speech in Thessaloniki on Saturday. In addition, the inner cabinet will discuss inflation-linked taxes of around 3.0 percent from the second tax bracket upwards for this year's income. A new tax scale will be devised for incomes earned in 2000, which is also due to be index-linked. A tax exemption of up to 300,000 drachmas on one million drachmas' worth of consumer spending will be retained. Tax relief for families will rise by 10,000 drachmas per child. Tax on single-owner companies will drop to 25 percent from the current 35 percent. Base assessed income for small and medium sized enterprises and the self- employed will be abolished. For this year's income, assessment will be based on a company's books and operational expenses, and on the basis of a single net profit bracket. Athens News Agency[04] Stock in Duty Free Shops handed overAthens, 01/09/1999 (ANA)A block of shares representing 67 percent of Hellenic Duty Free Shops was transferred to Agricultural Bank of Greece, which is to resell the equity to unnamed private investors slated to take over management of the company, National Economy and Finance Mi nister Yiannos Papantoniou said yesterday.The stock transaction, which it is hoped will lead to full privatisation, was effected through the Athens Stock Exchange where Hellenic Duty Free Shops is listed. Previous attempts to tender the firm fell flat. The move brought gains of 45 billion drachmas as the sale of the stock was effected at 5,500 drachmas from the company's earlier price of 3,200 drachmas, Mr. Papantoniou said. The move also dealt with a government commitment to help in a restructuring of Agricultural Bank of Greece, which intends to seek entry into the Athens bourse. It will not now issue a bond for Agricultural, aiding the public deficit, he added. Finally, Agricultural Bank was in talks with a group of investors interested in managing Hellenic Duty Free Shops, the minister said. Athens News Agency[05] Attica Enterprises to get 38 pct of Strintzis LinesAthens, 01/09/1999 (ANA)Attica Enterprises, operator of Superfast Ferries across the Adriatic, announced yesterday that it had secured the approval of shareholders in Strintzis Lines for the purchase of around 38 percent of stock in its former rival on the route.In a stock swap, Strintzis' shareholders will receive a stake in the share capital of Attica Enterprises. Attica is expected to receive five seats on Strintzis' 9-member board, and it will seek approval from its own shareholders to increase its five-member board to seven to include two members of the Strintzis family. The two companies have a combined fleet of 16 vessels. Athens News Agency[06] OTE posts 11 pct profit rise in H1Athens, 01/09/1999 (ANA)Hellenic Telecommunications Organisation (OTE), which is listed on the Athens bourse, yesterday reported a rise in first half consolidated profits before tax of 11 percent to 157 billion drachmas from 141 billion in the same period of last year.Turnover totalled 511 billion drachmas, up from 430 billion drachmas in the first half of 1998, marking an increase of 18 percent. OTE chairman Vassilis Rapanos told a news conference that contributing to the improvement in results were subsidiaries Cosmote, a mobile phone operator, and Armentel in Armenia. Athens News Agency[07] Stocks nose down, held back by banksAthens, 01/09/1999 (ANA)Equity prices ended yesterday's session slightly lower, reflecting weakness in the banking sector and despite persistent high liquidity in the market.The general index ended 0.29 percent lower at 5,205.34 points, sharply off the day's lows of 5,154.48 points. Blue chip stocks came under strong profit-taking. Construction stocks were particularly hit following a six-day rally which pushed the sector index 30 percent higher. Dealers said high liquidity precluded any possible sharp correction in the market and that only an external factor was capable of changing the market's underlying trend. Turnover was a hefty 519.474 billion drachmas with 71,190,273 shares changing hands. The high figure included the transfer of two blocks totalling 9,433,962 shares in Hellenic Duty Free Shops at 5,300 drachmas each to Agricultural Bank of Greece. Sector indices ended as follows: Banks (-0.90 pct), Insurance (-3.02 pct), Construction (+0.19 pct), Miscellaneous (-0.07 pct), Leasing (+0.07 pct), Investment (+0.22 pct), Industrials (+1.08 pct) and Holding (-0.98 pct). The parallel market index for smaller capitalisation stocks fell 0.45 percent, while the FTSE/ASE index for blue chips and heavily traded stocks ended 0.72 percent off at 2,783.26 points. Broadly, advancers led decliners by 164 to 139 with another nine issues unchanged. A total of 59 shares ended at the day's 8.0 percent limit up. Duty Free Shops and Attica Enterprises were the most heavily traded stocks. Autohellas shares jumped 99 percent in their second day of trading in the market. National Bank of Greece ended at 23,200 drachmas, Alpha Credit Bank at 21, 475, Commercial Bank at 29,950, Titan Cement at 33,755, Hellenic Petroleum at 3,300, Intracom at 26,790, Minoan Lines at 7,870, Panafon at 9,000 and Hellenic Telecoms at 6,400. Athens News Agency[08] Yield edges down in T-bill auctionAthens, 01/09/1999 (ANA)The yield fell slightly in an auction yesterday of 12-month Treasury bills worth 80 billion drachmas, the finance ministry said in a statement.The average weighed rate fell to 8.84 percent from 8.88 percent in the previous auction of 12-month T-bills on July 27. The drop was the first following several consecutive rises in the last few months. Bids submitted totalled 109.6 billion drachmas, 1.4 times more than the asked amount. The finance ministry finally accepted bids totalling 86.6 billion drachmas. The public debt management agency said that the drop in yields reflected confidence by domestic and foreign markets in Greek securities, despite a prolonged negative climate in eurozone markets. The finance ministry also said that a public offering of tax-free savings bonds in paperless form would start tomorrow and would last until Monday. The fixed-income bonds pay a coupon of 8.60 percent. Athens News Agency[09] Key projects for completion soonAthens, 01/09/1999 (ANA)Eight major projects in the transport sector as well as the new Athens international aiport at Spata and a natural gas network will be completed in coming years, improving the country's image, National Economy and Finance Minister Yiannos Papantoniou said yesterday.Detailing the government's regional development plan for 2000-2006, Mr. Papantoniou said that the transport sector would absorb 4.240 trillion drachmas. The sum would be used to complete major road network projects: the Patras- Thessaloniki motorway, Egnatia Way, Athens ring road, Ionian Way, and metro construction in Athens and Thessaloniki. The plan also includes funding for a bridge being built linking Rio to Antirrio and electrification of the railway network. Mr. Papantoniou said that transport took top priority, followed by education, training and employment. A total of 1.1 trillion drachmas would be spent to support educational reform and technical infrastructure for education. Another 350 billion drachmas would be spent on health and social welfare to improve services, Mr. Papantoniou said. The agriculture and fisheries sectors will absorb 1.35 trillion drachmas in addition to 660 billion drachmas in spending from the private sector. The aim is to adapt the country's primary sector to new fundamentals and to keep the rural population in the countryside. The government also plans to spend 270 billion drachmas on tourism, with the private sector contributing another 300 billion drachmas, and another 450 billion drachmas on culture. Mr. Papantoniou said that the European Union's Third Community Support Framework, or Santer package of funds, totalled 13.0 trillion drachmas including the EU's contribution of 9.0 trillion drachmas; the government's contribution of 3.5 trillion drachmas; and a reserve of 500 billion drachmas. The private sector would add another 3.2 trillion drachmas from their involvement in projects. Athens News Agency[10] Athens Foreign ExchangeAthens, 01/09/1999 (ANA)Bank of Greece closing rates of: August 31, 1999Parities in Drachmas Banknotes Buying Selling US Dollar 307.322 314.447 Can.Dollar 205.642 210.410 Australian Dlr 195.424 199.955 Pound Sterling 491.873 503.278 Irish Punt 411.051 420.581 Pound Cyprus 559.984 572.967 Pound Malta 717.569 747.468 Turkish pound (100) 0.063 0.066 French franc 49.352 50.496 Swiss franc 202.239 206.928 Belgian franc 8.025 8.211 German Mark 165.520 169.358 Finnish Mark 54.447 55.709 Dutch Guilder 146.902 150.308 Danish Kr. 43.545 44.554 Swedish Kr. 37.202 38.065 Norwegian Kr. 39.055 39.961 Austrian Sh. 23.526 24.072 Italian lira (100) 16.719 17.107 Yen (100) 280.686 287.194 Spanish Peseta 1.945 1.990 Port. Escudo 1.615 1.652 Foreign Exchange Buying Selling New York 307.322 314.447 Montreal 205.642 210.410 Sydney 195.424 199.955 London 491.873 503.278 Dublin 411.051 420.581 Nicosia 559.984 572.967 Paris 49.352 50.496 Zurich 202.239 206.928 Brussels 8.025 8.211 Frankfurt 165.520 169.358 Helsinki 54.447 55.709 Amsterdam 146.902 150.308 Copenhagen 43.545 44.554 Stockholm 37.202 38.065 Oslo 39.055 39.961 Vienna 23.526 24.072 Milan 16.719 17.107 Tokyo 280.686 287.194 Madrid 1.945 1.990 Lisbon 1.615 1.652 Athens News Agency[11] No change in Greece's policy on EU funds to TurkeyAthens, 01/09/1999 (ANA)The government said yesterday that there would be no change in the country's foreign policy regarding its objections to the release of funds allocated to Turkey under a European Union financial protocol."The government's position is that humanitarian aid should be given to Turkey and nothing more. We are following the same foreign policy and it would not be right to announce in advance what we intend to do at the forthcoming Council of Ministers," gove rnment spokesman Dimitris Reppas said. Mr. Reppas said that the purpose of meetings between Foreign Minister George Papandreou and opposition party leaders was to secure the consensus for protecting the country's national interests. Athens has long insisted that it will consent to the release of EU funds allocated to Turkey under the financial protocol only when Ankara has fulfilled a number of preconditions such as improving its human rights record and ending its frequently aggres sive and provocative stance towards Greece. In contrast, Greece was quick to despatch large amounts of humanitarian aid to Turkey, including rescue and medical teams, as part of relief efforts in the wake of the devastating earthquake which claimed thousands of lives. Responding to relevant questions, Mr. Reppas said that "the Joint Defence Doctrine is the cornerstone of our foreign policy, as far as our relations with Cyprus are concerned and our joint effort to resolve the Cyprus problem. "This doctrine, which was decided by the PASOK government, over the last few years, has been enriched and is a gain won for Greece and Cyprus, and no one can doubt that, or undermine it," Mr. Reppas said. Asked whether the Greek government is expecting a good will gesture from Turkey, following Greece's aid to earthquake-stricken victims, Mr. Reppas expressed his belief that Turkey recognised Greece's contribution, but has not given signs of change on is sues of bilateral concern. "I hope Turkey re-examines its foreign policy - but of course for humanitarian and solidarity reasons to the citizens of a neighbouring country, we do not weigh what we offer against favours returned," Mr. Reppas said. He added that Greece's policy over the last few years "has been recognised and the returns received by Greece both directly and indirectly are obvious in many sectors." Mitsotakis : Former prime minister and main opposition New Democracy (ND) honourary party chairman Constantine Mitsotakis yesterday said he supported lifting of the veto in the European Union. Mr. Mitsotakis, after a meeting with Mr. Papandreou in the framework of the latter's contacts with political leaders, said that "what everyone should understand is that the Greek veto is obsolete and inoperative and actually non-existant, since our European partners have found a way to ignore it. "Maintaining a veto does not serve the Greek national interests" Mr. Mitsotakis said, adding that "holding on to a policy of the past does not serve anything". Samaras : Mr. Papandreou also held a meeting yesterday with Political Spring party leader Antonis Samaras, to exchange views on foreign issues, mainly on developments regarding Turkey. After the meeting Mr. Samaras said that "I consider the continuation of the impo rtant assistance to Turkey due to the quake required, as much as I consider unacceptable for an earthquake to be transformed into an allibi for national concessions. "I say 'yes' to the assistance that can be given through other financing codes, but I say 'no' to the lifting of the veto, as long as Turkey continues to challenge international agreements and to violate human rights". Athens News Agency[12] PM hosts reception in honour of athletics medallistsAthens, 01/09/1999 (ANA)Prime Minister Costas Simitis yesterday received in his office five members of the national athletics team who won gold, silver and bronze medals at the recent World Athletic Championships in Seville. Voula Tsiamita, Mirella Tzelili, Anastasia Kelesidou, Katerina Thanou and Costas Gatsioudis visited the premier's office early in the afternoon prior to the reception hosted by Mr. Simitis in their honour. The premier promised the state's support to sports, particularly in light of the Olympics 2004 that wil l take place in Athens and said "we believe in the need for sports, since sports contribute to a better life".Athens News Agency[13] PM Simitis discusses developments in the Balkans with Montenegrin presidentAthens, 01/09/1999 (ANA)Prime Minister Costas Simitis yesterday held a meeting with visiting Montenegrin President Milo Djukanovic, focusing on developments in the Balkans and Montenegrin-Serbian relations.At the meeting Mr. Djukanovic reportedly presented his government's positions, which are coded in a platform emphasising the need for co- existence with Serbia, with a self-sufficient economic development in Montenegro regardless of Yugoslav President Slobodan Milosevic's duration in power. Mr. Simitis on his part stressed that Greece is in support of Montenegro's efforts for economic development and he placed particular emphasis on the bilateral economic cooperation, reassuring the Montenegrin president that Greece will support his country in her efforts for democratisation and rapprochement with the European Union. Athens News Agency[14] Greek Olympics delegation heads for Turkey with aidAthens, 01/09/1999 (ANA)A delegation from the Greek Olympic Medallists Association will leave for Turkey today to deliver medical supplies to be distributed to the victims of this month's devastating earthquake.The delegation's Hellenic Air Force C-130 will be met at Istanbul airport by Turkish Olympic gold medallist in wrestling, Mahmoud Atalai. Athens News AgencyAthens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article |
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