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Athens News Agency: Daily News Bulletin in English, 00-07-26

Athens News Agency: Daily News Bulletin in English Directory - Previous Article - Next Article

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

CONTENTS

  • [01] Greece determined to reach rock bottom in wiping out terrorism, Vasso Papandreou says on CNN interview
  • [02] Draskovic: Election without Montenegro participation would be disastrous
  • [03] Greece, Slovenia sign defense cooperation memorandum
  • [04] Commission again takes Greece to task over landfill
  • [05] Social dialogue on employment to start August 24
  • [06] European Commission ratifies package of measures aimed at strengthening strategy on employment
  • [07] The Interministerial Committee discusses budget for the Athens 2004 Olympiad and volunteerism
  • [08] Papandreou meets Burns, Abdullah
  • [09] Papantoniou lashes out at ND over bourse enquiry
  • [10] Athens public transport fares to increase from August 7
  • [11] Western Macedonia has the highest unemployment rate in Greece with 14.6 percent and the Ionian islands the lowest with 5.5
  • [12] Bureaucracy an obstacle to the reconstruction of the Balkans
  • [13] Cosmote-Telenor joint venture purchases 85 percent stake in Albanian state mobile telephony company AMC
  • [14] Athens bourse launches IPO for own listing
  • [15] Lack of confidence push Greek stocks sharply lower
  • [16] Bank of Attica reports 40.3 pct rise in 1st half pre-tax profits
  • [17] Vernicos Yachts to acquire KAL Aviation SA
  • [18] Heat wave advisory issued
  • [19] Eliza Goulandri dies at the age of 83
  • [20] Balkan Youth Festival to be held August 27-22 in Pieria
  • [21] Heat wave forecast for Wednesday
  • [22] President Clerides meets UN special adviser for Cyprus de Soto
  • [23] Britain's envoy for Cyprus meets party leaders accompanying Clerides in Geneva
  • [24] Turkish Cypriots begin sit-in protest demanding release of dozens of people

  • [01] Greece determined to reach rock bottom in wiping out terrorism, Vasso Papandreou says on CNN interview

    Athens, 26/07/2000 (ANA)

    "The Greek government is determined to reach rock bottom" in uncovering the "November 17" terrorist organization, the latest victim of which was Britain's defense attache in Athens, interior, public administration and decentralization minister Vasso Papandreou said late Monday in a televised interview on CNN.

    British defense attache Brig. Stephen Saunders, was shot and fatally injured on June 8 by two gunmen on a motorcycle as he was driving alone from his home in Nea Erythrea to the British embassy in downtown Athens. The elusive "November 17" terrorist organization claimed the attack in a proclamation to the Athens daily "Eleftherotypia".

    Speaking on the CNN programmed "Q&A" (Questions and Answers), Papandreou said that the Greek authorities were working closely with the British government and police (Scotland Yard), adding that during her London talks the British officials had expressed satisfaction with the Athens government's handling of the issue and over the cooperation between the Greek and British security authorities.

    Papandreou arrived in London on Monday for contacts with British government officials on arrangements in the country's public administration designed to improve services to the citizens and efficiency in the use of human resources.

    During a meeting Monday with British defense secretary Geoffrey Hoon that also covered the issue of terrorism, the British minister expressed satisfaction with the cooperation between Scotland Yard officials and Greek police in the search for the terrorist killers of Saunders.

    Asked why Greece desired cooperation with other countries in its efforts to uncover and wipe out the "November 17" organization, Papandreou replied that "the case of 'November 17' presents particularities -- it is a small group and it is very difficult for one to penetrate it".

    "We need the experience of other countries, and Britain has such experience. We have modernized and have made technical improvements in our security forces, and this time we are convinced that we will solve the case," the Greek minister said.

    To another question, Papandreou denied that Greece was not severe in tackling terrorism, noting that the Greek authorities have been collaborating with the US Federal Bureau of Investigation (FBI) since 1986 to counter the problem, but there had been no results to date.

    Asked if Saunders' killing would have repercussions on Greece's image regarding the staging of the 2004 Olympic Games in Athens, Papandreou said that the killing "was not the best advertisement for Greece", but added her belief that it would not have any effects on the Olympics for two reasons.

    First, she said, there was a conviction that the perpetrators would be comprehended this time and, second, because Greece had achieved a great deal in the last few years, such as its entry into the European Union's economic and monetary union (EMU) and the extremely successful organization of several major world athletic events.

    Asked if "November 17's" activity would affect Greece's relations with the EU, Papandreou said that was not a likelihood.

    "The country's image is very good, and has improved spectacularly in recent years," the minister said.

    "Despite the terrorism problem, Greece is a very safe country, and places among the countries with the lowest crime rates in Europe," Papandreou said.

    "The Greek government is determined to wipe out the (November 17) organization, and the assistance and cooperation with the British government and police are decisive in this direction," she said.

    Turning to Greek-Turkish relations, Papandreou said that those relations had improved considerably over the past year, prompted by the assistance the two countries offered each other after the devastating earthquakes that hit both countries last August and September.

    She also noted that Greece had agreed to Turkey's EU candidacy at the European Union's summit in Helsinki last December, but pointed out that Ankara needed to fulfill the criteria set out by the 15-nation bloc for all the candidate countries.

    "We have the good will for further improvement of relations with Turkey, and we expect a corresponding gesture from Ankara either on the Cyprus problem or on some other issue," Papandreou explained.

    Greek deputy FM receives Britain's Vaz: Greek Deputy Foreign Minister Elizabeth Papazoi received Keith Vaz, the British assistant foreign secretary responsible for European affairs, in Athens on Tuesday.

    Talks reportedly focused on EU-related issues. No statements were issued to reporters afterwards.

    [02] Draskovic: Election without Montenegro participation would be disastrous

    Athens, 26/07/2000 (ANA)

    Serbian opposition leader Vuk Draskovic on Tuesday described the current state of affairs in Yugoslavia as "very tragic and dangerous", following his meeting in Athens with Greek Foreign Minister George Papandreou.

    The leader of the Serbian Renewal Movement (SPO) party also told reporters that the situation worsened following the amendment of Yugoslavia's constitution in the absence of representatives from Montenegro, the junior partner comprising the Federal Republic of Yugoslavia along with Serbia.

    In other statements, Draskovic repeatedly emphasized that upcoming federal elections in Yugoslavia must be held in an impeccable manner, whereas the absence of Montenegrin voters would preclude international recognition for election results.

    In relation to Kosovo, Draskovic said if the Yugoslav election is perceived as undemocratic then the troubled province could be lost, something he described as a disaster for the Serbian people.

    "Kosovo for Serbia is our Jerusalem..." he stressed.

    Turning to Yugoslav president Slobodan Milosevic, the leader of Serbia's largest opposition party said his powerful political foe must realize that the "Yugoslav people are very weary of conflict."

    "Milosevic must open his eyes and realize that now is the time for democratization, so that elections recognized by Europe and the entire world can be organized... now is the time for the full inclusion of our country in all international fora. Milosevic must, therefore, come to an understanding with Montenegrin President Milo Djukanovic over democratic elections," Draskovic said.

    Along these lines, he said he requested from Athens that the Greek foreign ministry coordinate action with its European partners in order to pressure Belgrade to follow democratic procedures for the election, adding he would be satisfied if the vote was held under the conditions in effect for the 1997 Yugoslav election.

    On his part, Papandreou reiterated that Greece is in favor of a democratic and European orientation for the Federal Republic of Yugoslavia, whereas Athens' standing position is for all parties to participate in federal elections.

    Draskovic's public appearance in Athens was his first since an assassination attempt against him in late May.

    [03] Greece, Slovenia sign defense cooperation memorandum

    Athens, 26/07/2000 (ANA)

    Defense Minister Akis Tsohatzopoulos, currently on a two-day visit to Slovenia, on Tuesday signed in Ljubljana with his Slovenian counterpart Janez Jansa a memorandum of mutual understanding between the two countries on issues of military equipment and defense cooperation.

    The two ministers discussed issues concerning security and economic developments in the region and in statements reiterated the good relations between the two countries.

    The Greek side reiterated its support of Slovenia's bid to join NATO.

    Later in the day, Tsohatzopoulos was received by Slovenian President Milan Kucan and also met members of the Slovenian parliament's defense and international relations committees.

    On Wednesday, the Greek minister will be received by Prime Minister Andrej Bajuk and meet Foreign Minister Lojze Peterle.

    [04] Commission again takes Greece to task over landfill

    BRUSSELS, 26/07/2000 (ANA - M. Spinthourakis)

    The European Commission on Tuesday announced that it will take Greece to the Eurocourt over the latter's failure to implement Community standards regarding the safe disposal of waste in landfills.

    In commenting on the decision, EU Commissioner for environ-mental matters, Margot Wallstrom, said "member-states should oversee the operation of landfills based on (EU) Community standards, so that people living close to such facilities aren't worried over their operation."

    The announcement marks the latest reprimand against Greece by the Commission over environmental concerns - once again centering on the operation of landfills - and comes after violations were repeatedly leveled at the Epitalio landfill in the Peloponnese, a facility the Commission says is unlicensed as well as harmful to the surrounding environment. The Commission also noted that it would take recourse against Greece because earlier warnings were not heeded.

    Specifically, the Commission cited violations of Directive 75/442 and amended Directive 91/156. In an unrelated matter, the Commission also said it would send France to the Eurocourt over the improper operation of seven garbage incinerators in that country that also do not reportedly meet Community standards.

    Earlier this month the Eurocourt imposed a daily fine of 20,000 euros (6.7 million drachmas) on Greece over its failure to com-ply with a 1992 European Court decision to stop dumping toxic wastes at a landfill near the city of Hania, on the island of Crete.

    That action marked the first time that the Eurocourt passed down such a ruling against an EU member-state for failing to implement one of its previous decisions. The daily fine will be tacked on from the day of the second ruling -- July 4, 2000 -- and until the time the Greek government complies with the previous 1992 decision.

    Finally, the Greenpeace organization last week warned that the vast majority of the estimated 5,000 landfills in Greece are illegal and operate without any state supervision.

    Additionally, the international environmental advocacy group claimed that the burning of rubbish in such landfills accounts for the annual release into the atmosphere of between 47.7 and 920 grams of dioxins, a quantity greater than the one that caused last year's "food scare" in Belgium.

    In Athens, meanwhile, Environment Minister Costas Laliotis sharply criticized local governments on both Crete and eastern Attica prefecture over the operation of illegal landfills.

    "The state must end this shamelessness", he said, adding that state services have counted no less than 20 illegal landfills in eastern Attica alone

    [05] Social dialogue on employment to start August 24

    Athens, 26/07/2000 (ANA)

    The social dialogue process on employment will start officially on August 24, according to an official invitation sent to social partners on Tuesday by Labor and Social Security Minister Tassos Yiannitsis.

    According to the invitation, the process will have to be completed on September 28, while Yiannitsis is proposing 36 days of across-the-board dialogue on employment.

    Among the nine general points which should be discussed are such issues as utilizing funds from the 3rd Community Support Framework and improving employment mechanisms, structural policies, competitiveness, the role played by small and medium-size enterprises, the institutional framework on human potential policies (it is considered a thorny issue which includes changes in working hours and other serious issues for trade unions), active employment policies and the creation of a security network against exclusion.

    Meetings will initially be bilateral between the government and employees' and employers' unions. Multipartite meetings will be organized when all sides will consider such a development expedient and useful.

    [06] European Commission ratifies package of measures aimed at strengthening strategy on employment

    Athens, 26/07/2000 (ANA)

    The European Commission ratified a proposal on Tuesday paving the way for the funding of cooperation between European Union member-states on issues concerning the analysis, research and monitoring of policy on the labor market. The proposal was ratified following a relevant initiative by Greek Employment Commissioner Anna Diamantopoulou.

    The proposal aims at providing economic incentives for the development of policies on employment in member-states, de-fining the most appropriate practices and promoting the expansion of novelty and informatics.

    A Commission announcement said the decision strictly adheres to the Lisbon summit where the heads of EU states agreed to take a series of measures to make the EU the most competitive economy in the world.

    Presenting the proposal, Diamantopoulou said "the regular coordination of policies of member-states in the framework of the strategy on employment is beginning to bear fruit. Today's proposal will establish this process and will bring us a step closer to the vision shaped in Lisbon on full employment and qualitative work for all in the framework of the new economy."

    [07] The Interministerial Committee discusses budget for the Athens 2004 Olympiad and volunteerism

    Athens, 26/07/2000 (ANA)

    Prime Minister Costas Simitis chaired a meeting of the Interministerial Committee on Tuesday, focusing on the Athens 2004 Olympic Games budget and the issue of volunteerism in helping to prepare the Olympiad. Athens 2004 Organizing Committee President Gianna Angelopoulou-Daskalaki also attended the meeting.

    The Committee unanimously ratified a proposal by National Economy Minister Yiannos Papantoniou according to which the total budget for the Olympiad will amount to 1.8 trillion drachmas.

    Papantoniou said the budget for the Olympiad would be balanced. The state budget, the 3rd Community Support Framework and income from floatations will cover expenditures. On the other hand, revenues will result from TV rights, tickets and sponsorships.

    He also said that the final economic balance resulting from the Olympiad would be positive since Greece is a tourist country and a further influx of tourists is expected due to the holding of the Olympic Games.

    The government and the Organizing Committee want to place particular emphasis on volunteerism in preparing the Olympiad. An initial study revealed a great response and 50,000 volunteers are expected to participate in both the preparations and the games themselves.

    [08] Papandreou meets Burns, Abdullah

    Athens, 26/07/2000 (ANA)

    Foreign Minister George Papandreou received US Ambassador to Athens Nicholas Burns on Tuesday for talks on bilateral relations, developments in the Balkans, Greek-Turkish relations and the issue of Cyprus. Other issues discussed were the Olympic Truce and negotiations between the Palestinians and the Israelis at Camp David.

    Papandreou also received Palestinian Ambassador to Athens Abdullah Abdullah, with whom he confirmed the excellent level of bilateral relations, and discussed the possibility of a visit to the Palestinian Territories. Talks between the Palestinians and Israelis at Camp David were also discussed.

    [09] Papantoniou lashes out at ND over bourse enquiry

    Athens, 26/07/2000 (ANA)

    National Economy and Finance Minister Yiannos Papantoniou on Tuesday accused the main opposition New Democracy (ND) party of waging a smear campaign against the Athens Stock Exchange.

    "ND is unrepentantly continuing its drive against the stock exchange. It is persistently and systematically cultivating a climate of fear in investors, believing, naively, that it can hit out at the government in this fashion," Papantoniou said.

    He was replying to statements by senior ND officials after the party's former leader, Miltiadis Evert, on Monday filed a com-plaint with a Supreme Court prosecutor seeking an inquiry into alleged mismanagement by the Public Securities Company SA (DEKA), which handles the state's share portfolio and repayment of public debt.

    Evert had charged that DEKA's actions were "morally and politically liable and probably legally punishable".

    He alleged the firm had undertaken heavy buying in state companies' shares (Hellenic Telecommunications Organization, Duty Free Shops, Hellenic Petroleum, National Bank of Greece, etc.) before national elections on April 9, keeping the general index around 4,935 points.

    Following the ruling PASOK party's election victory, DEKA stopped its regular intervention on the bourse, costing DEKA and the Greek public 700 billion drachmas, Evert claimed.

    Papantoniou said the government had introduced a series of measures to achieve transparency in trade on the Athens bourse and to protect market players, culminating in a law earlier this month.

    Measures proposed by ND leader Costas Karamanlis earlier in the day either were already in place or were part of the government's plans, the minister added.

    Karamanlis: Karamanlis sharply criticized the government's policy on the stock market and asked for the resignation of the country's Capital Markets' Committee board.

    Karamanlis said the government's policy was and remained 'criminal' and accused the government of "cynicism, petty partisan politics and lack of transparency."

    He said that stock market losses totalled 18 trillion drachmas in the last nine months, with thousands of retail investors ruined, the Greek state suffering heavy losses, with the market's credibility severely undermined and unable to recover to this day.

    Karamanlis said the Capital Markets' Committee has grave responsibilities because it remained idle to the bourse's spiral and with its only intervention coinciding with the prime minister's speech on March 9, which he charged was an obvious effort to slander ND during the pre-election campaign period.

    This is a huge political and moral issue and New Democracy is determined to seek a radical solution to the situation, he noted.

    Karamanlis said that a complaint filed with the Supreme Court's prosecutor by former ND president Miltiadis Evert on Monday would help to unravel DEKA's 'suspicious' role, while noted that his party would bring the issue before parliament's institutions and transparency committee.

    "We cannot be idle witnesses to all this money been lost and to all these actions with no one taking the blame," he said.

    Karamanlis noted that it is imperative that all responsible should resign.

    State securities manager denies wrongdoing: In a separate statement, DEKA rejected Karamanlis' claim that its transactions had led to losses of 700 billion drachmas.

    The company said that it had bought stock in state companies when their price was down, selling when their price had risen to "satisfactory levels."

    In addition, it stated that its transactions could not have affected the Athens general share index.

    DEKA pointed out that it was subject to the same disclosure and regulatory rules as private companies, and, as a state company, was supervised by the finance minister.

    Coalition of the Left and Progress: The Coalition of the Left and Progress on Tuesday called on the government to provide details of DEKA's stock purchases before the April national elections.

    It also charged the ruling PASOK and opposition New Democracy parties with making the bourse a battleground for their own political interests, leading to a crisis of confidence among investors.

    [10] Athens public transport fares to increase from August 7

    Athens, 26/07/2000 (ANA)

    Athens bus fares are to rise by 30 drachmas as of August 7, the Transport Ministry announced on Tuesday.

    The standard fare will rise to 150 drachmas from 120 drachmas, while the price of the monthly card for unlimited use on all forms of transport will go up from 10,000 drachmas to 12,000 drachmas.

    The cost of the monthly card for unlimited use on trolleys and buses only will rise by 1,000 drachmas to 6,000 drachmas.

    [11] Western Macedonia has the highest unemployment rate in Greece with 14.6 percent and the Ionian islands the lowest with 5.5

    BRUSSELS, 26/07/2000 (ANA - V. Demiris)

    The Ionian islands are the part of Greece having the lowest unemployment rate with 5.5 percent and western Macedonia has the highest with 14.6 percent, according to the European Union's Eurostat bulletin on unemployment in the EU publicized here on Tuesday.

    Unemployment in Greece was 11.7 percent in April 1999 and increased by 0.9 percent compared to the corresponding period in 1998. Greece (+0.9 percent) and Denmark (+0.2 percent) are the only EU member-states in which unemployment increased. The EU's average unemployment rate was 9.4 percent. Spain has the highest unemployment rate with 16.1 percent and Luxembourg the lowest with 2.4 percent.

    Unemployment among women in Greece reached 17.9 percent and increased by 1.4 percent compared to April 1998. The highest percentage was in central mainland Greece with 24.9 percent and the lowest in Epirus with 8.1 percent. The EU's average unemployment rate for women was 10.9 percent.

    Unemployment in Greece among young people below 25 was 31.7 percent in April 1999 and increased by 2 percent compared to the corresponding period in 1998. The highest rate was in western Macedonia with 47 percent and the lowest in the southern Aegean with 15.7 percent. The EU's average in this sector was 17.8 percent.

    [12] Bureaucracy an obstacle to the reconstruction of the Balkans

    Athens, 26/07/2000 (ANA)

    Bureaucracy remains an obstacle to the reconstruction of the Balkans, Macedonia-Thrace Minister George Paschalidis said on Tuesday.

    Speaking to reporters during a joint press conference in Thessaloniki with Hugues Mingarelli, director in the European Agency for Reconstruction, Paschalidis said "we see, both in community and Greek level, that there is a framework for action, ample funds and the political will to promote political stability as well as social and economic development in the Balkans, aiming to a future integration of the region in a wider European Union. However, in order to become more efficient we need to tackle the bureaucracy problem. Every time we face this problem we have to think of the urgency of solving our neighboring countries' problems because the consequences will be severe for all of Europe."

    He attributed the problem of 'red-tape' to the incompatibility of administration systems between countries and to the presence of idle and corrupt forces.

    "The Greek government believes and supports a gradual expansion of the European Agency for Reconstruction's role beyond the Kosovo area," he said.

    Mingarelli, however, stressed that "the EU members will decide on its expansion" and stressed that the agency currently has a clear mandate in Kosovo.

    Paschalidis said the Greek government's five-year plan for the reconstruction of the Balkans envisaged granting 180 billion drachmas to support social, economic and production programmers in the region.

    He also noted the absence of a joint foreign policy in the European Union as a factor creating obstacles in the reconstruction effort.

    "Economic and Monetary Union achievements will be meaningless unless there is social cohesion and a single foreign policy," he said.

    Mingarelli said that the agency has forwarded programmers, worth 175 million euros, in Kosovo. These programmers have been approved by the EU and aimed at repairing damages to infrastructure and buildings and to help in an economic and social development of the region.

    He said that around 20 people would begin working at the agency's administration and legal departments in Thessaloniki in the next couple of weeks.

    [13] Cosmote-Telenor joint venture purchases 85 percent stake in Albanian state mobile telephony company AMC

    Athens, 26/07/2000 (ANA)

    The Cosmote-Telenor joint venture signed an agreement on Tuesday for the purchase of 85 percent of shares of the Albanian state mobile telephony company Albanian Mobile Communications (AMC). The joint venture had offered the amount of 85.6 million dollars in international tendering held last May and had clinched the deal.

    After the agreement was signed in Tirana, Albania, in the presence of members of the Albanian government, a delegation of the Hellenic Telecommunications Organization (OTE) Group, headed by OTE's president and managing director Nikos Manasis visited Albanian Prime Minister Ilir Meta for talks.

    Transport and Communications Minister Christos Verelis expressed satisfaction over the successful outcome of talks and the signing of the agreement. He also extended official invitations to Public Economy and Privatizations Minister Moustafa Muci and Transport Minister Sokol Nako to visit Athens for talks on bilateral relations of mutual concern.

    On his part, Cosmote's managing director Evangelos Martigopoulos said that with AMC's buyout by Cosmote, the company would lay the foundations for its activation in the wider Balkan region.

    Zaphiropoulos holds talks with Meta: Deputy National Economy Minister Yiannis Zaphiropoulos held talks with Albanian Prime Minister Ilir Meta, focusing primarily on further intensifying cooperation between the two countries, particularly in the economic sector.

    Meta underlined Greek contribution to Albania's economic development, saying that over 200 Greek companies are active in the country, including four banks, with capital invested exceeding 100 million dollars. He said the signing of the agreement between Cosmote, Telenor and the Albanian AMC company constitutes the first and most successful privatization of a strategic sector in Albania.

    In the framework of economic cooperation between the two countries, Zaphiropoulos and Albanian Finance Minister Anastas Angeli signed two loan contracts each amounting to 1.5 billion drachmas concerning the funding of projects in the health and education sectors in Albania.

    [14] Athens bourse launches IPO for own listing

    Athens, 26/07/2000 (ANA)

    Hellenic Stock Exchanges Holding SA, which owns the Athens Stock Exchange, has launched an initial public offer for the bourse's listing on the main market that ends on July 28.

    On sale in the IPO, which began on Tuesday, are 2,375,000 new shares from a share capital increase and 2,275,000 existing shares belonging to the Greek state, all at 5,250 drachmas a share.

    Another 350,000 shares are destined for private placement with staff of the stock exchange group of companies.

    Proceeds of the IPO, which will total around 13 billion drachmas, are to be used mainly to help finance a new stock exchange center to house the group's services.

    The Athens bourse group in 1999 showed pre-tax profits of 67.4 billion drachmas on turnover of 73.8 billion drachmas.

    [15] Lack of confidence push Greek stocks sharply lower

    Athens, 26/07/2000 (ANA)

    Equity prices ended sharply lower on the Athens Stock Exchange on Tuesday pressured by lack of investment interest and waning confidence in the market.

    The general index ended below the psychologically critical 4,000 level again after seven sessions with turnover remaining at an ebb.

    The index ended at 3,988.26 points, off 1.33 percent, off the day's lows of 3,981 points. Turnover was a low 52.6 billion drachmas.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks ended at 2,232.60 points, off 1.16 percent and the FTSE/ASE 40 index fell 1.64 percent to 563.50 points.

    Sector indices ended as follows: Banks: 7,602.48

    -1.49% Leasing: 782.26 -1.69% Insurance: 2,488.80

    -1.05% Investment: 1,626.58 -1.09% Industrials: 2,479.23 -1.27% Miscellaneous: 3,973.37 -0.84% Holding: 4,301.38 -1.73%

    The parallel market index for smaller capitalization stocks ended 2.95 percent lower at 721.27 points.

    Broadly, decliners led advancers by 307 to 33 with another eight issues unchanged.

    Hellenic Telecoms, Daios, Alpha Bank, Doudos, Teletypos and Intracom were the most heavily traded stocks.

    Leading shares' closing prices (in Drs): National Bank: 14,270 Titan Cement (c): 13,480 Alpha Bank: 13,960 Hellenic Telecoms: 8,020 Commercial Bank: 15,970 Panafon: 4,270 Hellenic Petroleum: 3,750 Eurobank: 9,400 Attica Enterprises: 3,720 Intracom: 12,310 Lambrakis Press: 10,005 Minoan Lines: 3,600 Heracles Cement: 7,700 Hellenic Bottling: 5,300

    Equity futures end down, tracking Athens bourse: Equity futures traded on the Athens Derivatives Exchange finished lower on Tuesday, in line with the indices on which they are based.

    The FTSE/ASE 20 index closed 1.16 percent down, and the FTSE/ASE 40 ended 1.64 percent lower.

    Turnover was 9.17 billion drachmas from 3.58 billion drachmas a day earlier.

    A total of 1,436 contracts were traded on the FTSE/ASE 20 with turnover at 6.44 billion drachmas.

    On the FTSE/ASE 40 index, 1,202 contracts changed hands on turnover of 2.73 billion drachmas.

    Bond prices rise in brisk trade: Bond prices in the domestic secondary market on Tuesday finished higher in heavy trade.

    Strong demand was seen from institutional investors in Germany for long-term paper.

    The Greek benchmark 10-year bond showed a yield of 6.031 percent from 6.065 percent for two straight sessions.

    The Greek paper's yield spread over German bunds was 82 basis points from 80 basis points in the previous trading day.

    Turnover through the central bank's electronic system totalled 182 billion drachmas from 48 billion drachmas a day earlier.

    Buy orders accounted for 110 billion drachmas of turnover.

    Drachma down vs. euro, up vs. dollar: The drachma on Tuesday fell against the euro and rose versus the US dollar in the domestic foreign exchange market.

    At the central bank's daily fixing, the euro was set at 337.200 drachmas from 337.140 drachmas in the previous session.

    Also at the fixing, the US dollar was set at 358.100 drachmas from 360.830 drachmas a day earlier.

    [16] Bank of Attica reports 40.3 pct rise in 1st half pre-tax profits

    Athens, 26/07/2000 (ANA)

    Bank of Attica on Tuesday reported a 40.3 percent jump its 1st half pre-tax profits to 3.6 billion drachmas and a 5.0 percent increase in assets to 422 billion drachmas.

    Deposits (including repos) totalled 274.4 billion drachmas, up 46.3 percent from the corresponding period last year, while loans totalled 166 billion drachmas, up 30 percent. The bank has made provisions totalling 850 million drachmas in the period January-June. Bank of Attica inaugurated 10 new branches in the first half of 2000 raising its total network to 48 and plans to open new branches in Corfu, Katerini and Alexandroupolis.

    [17] Vernicos Yachts to acquire KAL Aviation SA

    Athens, 26/07/2000 (ANA)

    Vernicos Yachts Maritime SA on Tuesday announced an initial agreement for the purchase of a majority stake in KAL Aviation SA, a Greek air light cargo company based in Athens and servicing the Greek islands.

    KAL Aviation recently acquired a handling license for the new Athens airport at Spata.

    The deal to buy more than 67 percent of KAL's equity capital will help Vernicos Yachts transformation into a holding company with activities ranging from sea tourism, air transport and shipping.

    Vernicos Yachts plans to expand KAL's activities in the Middle East and the Balkans.

    [18] Heat wave advisory issued

    Athens, 26/07/2000 (ANA)

    Greece's environment ministry on Tuesday advised citizens to reduce travel by automobiles as much as possible on Wednesday, as a heat wave is forecast for much of the Mediterranean country. Tanker trucks were also ordered off the roads in the greater Athens area, except for the provision of fuels to ports and airports.

    Meteorologists warned that the mercury could reach as high as 42C on Wednesday in several parts of Greece with potentially high smog levels in Athens as well.

    [19] Eliza Goulandri dies at the age of 83

    Athens, 26/07/2000 (ANA)

    Philanthropist and patron of the arts Eliza Goulandri died at an Athens hospital on Tuesday, at the age of 83.

    Goulandri, President of the Vassilis and Eliza Goulandri Foundation, and her husband also had considerable cultural activities in Paris and the French government honored her with the Commandeur de l' Ordre Des Arts et des Lettres.

    She was also honored by the Athens Academy in 1981.

    Goulandri inaugurated the Muse-um of Modern Art on the Aegean island of Andros in 1979 and the island's archaeological museum in 1981.

    Culture Minister Theodoros Pangalos said "I was informed of the death of Eliza Goulandri with great sorrow. At a recent meeting of ours in Andros, at the inauguration of Moore's excellent exhibition, which she had preoccupied herself with personally, I had the opportunity to discuss with her the dream of a lifetime on the creation of a Modern Art Museum in Athens".

    He said her unexpected death, as far as the Culture Ministry is concerned, would not obstruct the completion of plans they had made together.

    In a message to Goulandri's family, main opposition New Democracy party leader Costas Karamanlis expressed his profound condolences and underlined the Greeks' universal appreciation for her cultural contribution to the country.

    Her funeral service will be held at the Saint Andreas church at the Athens elderly people's home on Friday. She will be buried afterwards in the family's tomb at the Athens First Cemetery.

    [20] Balkan Youth Festival to be held August 27-22 in Pieria

    Athens, 26/07/2000 (ANA)

    Youths from ten Balkan countries will take part in the Balkan Youth Festival, which is organized in Pieria from August 27-22 by the municipalities of Katerini, Litohoro and Eastern Olympus.

    The more than 300 people who are expected to attend come from Albania, Bulgaria, Yugoslavia, Montenegro, Romania, the Former Yugoslav Republic of Macedonia (FYROM), Slovenia, Turkey, Bosnia-Herzegovina and Greece.

    The youths, aged between 16-22, will take part in music events, photographic exhibitions and works of art.

    Concerts will also be given by Greek and foreign groups. A Balkan book festival will also be held.

    [21] Heat wave forecast for Wednesday

    Athens, 26/07/2000 (ANA)

    A heat wave is forecast for mainland Greece on Wednesday, with temperatures expected to hit a high of 42C. Winds will be northerly, light to moderate. On the mainland, temperatures will range from 20C to 42C; in the Ionian from 23C to 39C; and in the Aegean islands from 24C to 36C. Hot and sunny in Athens with temperatures between 24C and 41C. Same in Thessaloniki, with temperatures ranging from 22C to 40C.

    [22] President Clerides meets UN special adviser for Cyprus de Soto

    GENEVA, 26/07/2000 (CNA/ANA)

    The UN Secretary General's special advisor for Cyprus Alvaro de Soto is evaluating the positions given to him by the Greek Cypriot and Turkish Cypriot sides, engaged in a new round of proximity talks in Geneva that opened on Monday.

    De Soto had asked to see President Glafcos Clerides at his hotel here on Tuesday afternoon, after having a three and a half hour-long meeting with Turkish Cypriot leader Rauf Denktash in the morning.

    Asked after the 45-minute-long meeting with Clerides if the Turkish Cypriot leader had elaborated on his positions, the UN official said, "I heard him out indeed", while to a question if at this stage of the talks he is listening and not talking, he replied, "now I'm evaluating."

    The Peruvian diplomat, chairing the talks since they opened last December, had given the Greek Cypriot and Turkish Cypriot sides what he has described as "thoughts to reflect on" at the end of the last round of meetings held earlier this month.

    Replying to other questions, de Soto said he does not believe he will have any "formal meetings" with the leaders of the two communities on Wednesday. "It's more likely to be the day after," he said.

    In the talks held last December, in February and earlier this month de Soto has been holding separate meetings with the two sides, what has been described as proximity talks, aiming at paving the ground for substantive negotiations to reach a settlement in Cyprus, divided since Turkish troops invaded and occupied 37 percent of its territory in 1974.

    This round of talks ends on August 4 and new meetings are scheduled to take place in the US in September.

    [23] Britain's envoy for Cyprus meets party leaders accompanying Clerides in Geneva

    GENEVA, 26/07/2000 (CNA/ANA)

    Britain's envoy for Cyprus Sir David Hannay, who has been closely following the UN-led talks for a settlement on the island since they opened last December, has been meeting in Geneva with political party leaders accompanying President Glafcos Clerides, listening to their views and putting forward his own ideas.

    On Tuesday the British diplomat met ruling-wing DISI President Nicos Anastasiades and was due to later meet General-Secretary of leading opposition AKEL Demetres Christofias, while on Wednesday he is scheduled to meet the Social Democrats' party leader Vassos Lyssarides and United Democrats President George Vassiliou.

    Hannay refrained from replying to questions by journalists who are here to cover the talks, in line with a news black out requested by the United Nations, but said he will also be seeing the Turkish Cypriot delegation. UN-sponsored talks aiming at paving the ground for meaningful negotiations on the Cyprus issue have been held in December, February and earlier this month.

    A new round of proximity talks, separate meetings with the Greek Cypriot and Turkish Cypriot sides opened in Geneva on Monday and is scheduled to end on August 4, and are being closely monitored by both the US and the UK. Anastasiades described his meeting with the British envoy as "interesting and constructive, in the sense that Mr. Hannay put forward some views and thoughts that are developing."

    "I had the opportunity to elaborate on our concerns and outline the framework a settlement should be based on so that it is just, viable and lasting", he added.

    He said Hannay also raised issues relating to the ideas given to the two sides by the UN chief's Special Advisor for Cyprus Alvaro de Soto, who is conducting the talks, and gave some explanations.

    The ideas were put to the two sides at the end of the last round of meeting held July 5 to 12 and de Soto had asked them to return with their positions.

    Anastasiades said the British diplomat gave him some replies on the ideas but refrained from saying whether they satisfied him.

    The Greek Cypriot side was to give its replies based on UN resolutions and the Secretary-General's reports on Cyprus.

    The ruling party leader said there is an interest for progress to be made and that the talks continue, adding that the British government envoy is interested in hearing the views of the political party leaders and their thoughts on a final settlement.

    "I set out what we mean when we say that any thoughts put forward must be based on UN resolutions on Cyprus" he added.

    Replying to questions Anastasiades said foreign envoys support the Cyprus government view that it does not want "talks for the sake of talking."

    [24] Turkish Cypriots begin sit-in protest demanding release of dozens of people

    NICOSIA, 26/07/2000 (CNA/ANA)

    Some 200 people began a sit-in protest on Tuesday in front of the so-called "prime minister's" office in the Turkish occupied areas of the Republic, demanding the release of dozens of persons, arrested during a violent protest on Monday and noting that Turkish Cypriot leader Rauf Denktash was planning a coup.

    AFP reported that more people were joining the demonstration with every passing minute, while large numbers of illegal "police", some in riot gear, kept a close watch.

    Tuesday's demonstration, organized by 44 Turkish Cypriot organizations, was called to protest a clash on Monday between so-called "police" and victims of a banking scandal outside the illegal "parliament" of the self-declared regime in the areas under Turkish occupation since Turkey invaded the island in 1974.

    During Monday's clashes, 18 people were injured when "police" used truncheons, tear gas and pressurized water to disperse a 3,000-strong crowd which briefly occupied the so-called "parliament's" building, and some 60 people are reported to have been arrested.

    The exact number of detainees has not been determined yet, but at least 15 leading members of trade unions and a journalist from the daily newspaper "Avrupa" are reported to be among them.

    Monday's protesters were demanding that the illegal regime pay them their monthly compensation -- which has been failing to come for the past few months -- to cover losses incurred after six troubled banks were put under so-called "public administration" in the past six months.

    Tuesday's demonstrators said they would continue their demonstration until the last person is released from custody and condemned Monday's harsh reaction as an "attack on the will of the public."

    In a press release, the demonstrators described Mondays incidents as an attempt by Denktash to create tension and gain sole control of his internationally isolated "state".

    They said the events were "a rehearsal for a coup" and that "the Denktash regime, which has its hopes set on chaos in our 'country', is preparing a coup", adding that collaborators of Denktash in this effort were the commander of the so-called "security forces" Ali Nihat Ozeyranli, the so-called "president" of the illegal "parliament" Ertugrul Hasipoglu, and chief of the so-called "police" Erdem Demirbag.

    Speaking in Geneva on Tuesday, where UN-led talks with the two sides on the island are underway to solve the Cyprus problem, Denktash said the scandal was "a question of banks and money affairs" and noted he was concerned", but refrained from commenting on Mondays arrests.

    Denktash on Monday called on the illegal "government" in the Turkish occupied areas to take urgent measures to deal with the growing anger over the banking scandal, in which some 30,000 people lost about 200 million dollars.


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