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Athens News Agency: Daily News Bulletin in English, 08-05-08

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

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

Thursday, 8 May 2008 Issue No: 2887

CONTENTS

  • [01] Papandreou slams 'un-European' privatizations policy
  • [02] FM Bakoyannis holds talks with Turkish counterpart
  • [03] PM confers with health minister
  • [04] Greek-Austrian relations are excellent, Austrian President Fischer tells ANA-MPA
  • [05] Austrian honor for FM Bakoyannis
  • [06] Government on Dimas, Souflias disagreement
  • [07] PASOK defence rapporteur briefed on defence issues
  • [08] Head of Parliament Committee for environment visits President
  • [09] President meets with law enforcement leaderships
  • [10] Greece-Bulgaria working group on energy cooperation
  • [11] Development minister addresses Athens Summit 2008 conference
  • [12] Greece pushes for more air links between country and Gulf States
  • [13] Finmin, merchant marine minister hold meeting on ministry budget
  • [14] FinMin Alogoskoufis addresses letter to Financial Times
  • [15] Deputy FinMin Pathathanasiou meets Commissioners
  • [16] HELEXPO exhibition preparing to open in September
  • [17] Doppler debuts in Alternative Market
  • [18] Mellon Group sets up subsidiary in Turkey
  • [19] Greek hotel industry growing steadily, report
  • [20] Piraeus Bank in 26.4-mln-euro share capital increase plan
  • [21] Greek closed-end investment funds' assets up 1.9 pct in April
  • [22] Greek stocks end 0.87 pct higher
  • [23] ADEX closing report
  • [24] Greek bond market closing report
  • [25] Foreign Exchange Rates - Thursday
  • [26] Alleged bus driver shooter incarcerated pending trial
  • [27] Burglary ring involving nearly a score of foreign nationals busted
  • [28] Passaris accomplice captured in Austria
  • [29] ELA appeals trial to begin on May 21
  • [30] "Harry Truman" aircraft carrier visits Rhodes
  • [31] Photo exhibition at Munich Municipal Museum
  • [32] Cloud, scattered showers on Thursday
  • [33] Spokesman: we shall continue hard work towards a settlement
  • [34] Cyprus becomes full member of WEU Parliamentary Assembly Politics

  • [01] Papandreou slams 'un-European' privatizations policy

    In his first public appearance after a cycling accident just before Orthodox Easter, main opposition PASOK leader George Papandreou on Wednesday accused the government of having a policy on privatizations that did not befit a member of the European Union. During a speech to PASOK's Parliamentary group, Papandreou was especially critical of the deal currently being negotiated between the government and Deutsche Telekom (DT) for the management of the state-run phone utility Hellenic Telecommunications Organization (OTE).

    "Greece is the only country in the European Union that has sallied forth onto the global market and put everything on the block. This is a policy that does not befit Greece, nor any other country of the European Union," he said in criticism of the OTE deal.

    He stressed that the government was essentially handing OTE over to the German state sector and spoke of a "breach of faith scandal against the country" that had started when New Democracy passed laws abolishing safeguards against a hostile takeover bid for OTE via the stock market, such as the law requiring the state to retain 33 percent of OTE shares and another blocking private shareholders from the rights to more than 5 percent of the company.

    Replying to accusations that PASOK was "statist", meanwhile, he noted that PASOK was no more statist than the Germans that were currently in the process of buying out OTE's management, given that German company was still subject to extensive state regulation.

    He claimed that the deal would convert OTE into a "state-run German vehicle for expansion in the Balkans" and that Greece would thus be denying itself the same opportunity and giving it as a gift to the German government.

    Papandreou added that PASOK would exhaust every legal and political means to restore state control over OTE once it resumed power, stressing that this was not an attempt to "intimidate" prospective buyers but "an advance warning".

    Turning to other issues, PASOK's leader accused the government of "lacking a plan" for the coming period, in which radical changes were expected, and that PASOK's duty was to "reverse the government's inability, and the insecurity and pessimism it had instilled in the Greek people".

    Describing the state of the economy as "tragic", Papandreou claimed that the budget had collapsed in the first third of 2008.

    The main opposition leader then turned his criticism to the government's environmental record, saying that it had placed Greece under "environmental supervision" from the EU. He was particularly scathing about the new land planning bill presented by the government, saying its main promise was "cement everywhere" and a return to the past, while blasting a reference by Environment Minister George Souflias about turning to nuclear power as an alternative.

    Other areas that he attacked the government included the planned revision of the Constitution that he described as completely lacking in bold, progressive measures, while also accusing the government of a series of violations of the spirit and letter of the Constitution.

    Referring to a statement by Justice Minister Sotiris Hatzigakis about a coming "tsunami" of court cases, Papandreou said it was unheard of for a minister to make decisions as though he were a public prosecutor and stressed that PASOK had nothing to fear but did not trust the government's manipulation of justice.

    He also commented on the name dispute between Greece and the Former Yugoslav Republic of Macedonia (FYROM), repeating his positions and for the first time linking the support received by Greece for its veto at the NATO summit in Bucharest with a possible trade-off involving the country's arms procurements programme. If this were true, he added, it would put the government's handling of the affair in a completely different light.

    "I hope that the support for Greek positions at Bucharest was not the result of promises by the Greek side to buy defense equipment worth billions of euros, as became apparent yesterday," he said in comments on the armed forces restructuring announced by the government.

    Another focus of Papandreou's speech was the poor state of the public health system, which he said had been allowed to languish and pointing out that he had had first-hand experience of the problems during his recent hospitalisation at KAT accident hospital in Athens.

    [02] FM Bakoyannis holds talks with Turkish counterpart

    PARIS (ANA-MPA/O. Tsipira)

    Greek Foreign Minister Dora Bakoyannis held talks with her Turkish counterpart Ali Babacan in Strasbourg on Wednesday, on the sidelines of the Council of Europe session, stressing that "the process on improving Greek-Turkish relations is a marathon race and not a 100-metres dash."

    The meeting, that took place at the Turkish minister's request, lasted for over half an hour in a friendly atmosphere.

    "You are aware that Greek-Turkish relations are developing very well, following the visit to Turkey by Prime Minister Mr. (Costas) Karamanlis and it was a great pleasure for me to meet Ali Babacan again," Bakoyannis said.

    The minister referred to the confidence-building measures that were adopted in December, "which are being implemented now and for which the two foreign ministers are working."

    She stated that the army chief will be repaying in May the visit, made by the chief of the Turkish army, to Turkey and underlined a "very good economic cooperation existing between the two countries that amounts to 2.3 billion euros."

    Wednesday's meeting is part of a series of meetings anticipated between the two foreign ministers, following a joint decision to utilize every opportunity in international fora, aimed at continuous mutual briefing on issues arising between the two countries, as the Greek minister explained.

    Replying to a question by the press on "whether, after so many friendly meetings, she discerns some change in attitude on the issue of the Aegean and the issue of the recognition of the Patriarchate," Bakoyannis said that she raised these issues, as she raises them every time, stressing that "but the improvement of Greek-Turkish relations is a long process, it is a marathon race and not a 100-metres dash."

    Also asked whether she sees any mobility in relation to the issue of Cyprus, and possibly some solution, the minister said "I believe that the agreement reached in March (between Cyprus President Demetris Christofias and Turkish Cypriot leader Mehmet Ali Talat) was a very good agreement between the two leaders. I believe that there is a will and both leaders want progress to take place. Greece, just like Turkey as well, are encouraging the two sides in particular, so that we can have a just solution to the issue soon."

    In March 2008, Cyprus President Christofias and Turkish Cypriot leader Talat, during a meeting in the presence of the UN, agreed to set up working groups and technical committees to deal with various aspects of the Cyprus problem with a view to prepare the ground for substantive negotiations between the two leaders. Six working groups and seven technical committees were set up and are currently holding meetings in Nicosia.

    Referring to the issue of Cyprus as well, Babacan said "Turkey and Greece are supporting the two leaders in Cyprus to continue discussions and we are committed absolutely to this."

    Babacan also commented on the Greek prime minister's recent visit to Turkey, pointing out that "after 49 years, we were very happy to receive Prime Minister Mr. Karamanlis in Turkey. This visit signalled a new phase in our relations. I met with Mr. Karamanlis last December in Greece and, following the visit to Turkey by Mrs. Bakoyannis, we decided to meet frequently and to talk about issues of mutual interest, international issues" and adding that "we are very pleased that we shall be welcoming the chief of the army."

    [03] PM confers with health minister

    Prime Minister Costas Karamanlis met Wednesday with Health Minister Dimitris Avramopoulos and was briefed on health sector-related legislative initiatives to be undertaken this month.

    Avramopoulos told reporters afterwards that they focused on primary healthcare issues and the draft law already prepared by the responsible parliamentary committee banning smoking in public places and the sale of tobacco and alcohol to minors (under 18 years of age).

    The health minister also briefed the premier on all issues pertaining to the overall operation of the National Health System, and underlined that reforms in the sector will continue, expressing certainty that there will be results.

    [04] Greek-Austrian relations are excellent, Austrian President Fischer tells ANA-MPA

    VIENNA (ANA-MPA/D. Dimitrakoudis)

    Austrian President Heinz Fischer, speaking in an exclusive interview with the ANA-MPA here on Wednesday, underlined the excellent relations existing between Austria and Greece, following his visit on Wednesday to the two Greek Orthodox cathedrals in the Austrian capital, Saint George and Holy Trinity.

    The Austrian President expressed pleasure that he will be welcoming in a few weeks his "very good personal friend", Greek President Karolos Papoulias, who will be making an official visit to Austria on July 3-5, returning the visit made to Greece by President Fischer in May, 2007.

    Referring to his visit to Greece last year, President Fischer said in his interview with the ANA-MPA that he has the best of memories of his visit during which, as he said, an identity of views was ascertained between the two sides on political issues.

    President Fischer pointed out that his visit to Greece was characterized by the very good personal atmosphere, something that will be continued, as he noted, during the upcoming visit to Austria by President Papoulias as well, while efforts will be made to ensure that this visit will be for the Greek President "successful, useful and valuable, as well as interesting and pleasant."

    Expressing his satisfaction over his visit to the two historic Greek Orthodox cathedrals, President Fischer said that they remind and prove that Hellenism in Austria, and in Vienna in particular, had a long and glorious history, having played an important role in the past, while what remains equally important, as he added, is that this traditioon remains alive today as well.

    [05] Austrian honor for FM Bakoyannis

    VIENNA (ANA-MPA / D. Dimitrakoudis)

    Greek Foreign Minister Dora Bakoyannis will be awarded the Emperor Maximilian Award-European Award for Regional Policy and Local Government in Innsbruck on Thursday evening.

    During the ceremony, held on the eve of "Europe Day", celebrated on May 9, Austrian Foreign Minister Ursula Plassnik will address the event, while Tyrol Governor Herwig van Staa will be the main speaker.

    According to an announcement issued by the State of Tyrol and Innsbruck's municipality, which have jointly established the award in 1997, Bakoyannis is being honored because she "was the first woman elected Athens mayor and the first woman mayor in history that hosted the Olympic Games."

    [06] Government on Dimas, Souflias disagreement

    Government spokesman Theodoros Roussopoulos on Wednesday denied that there was a "spat" between Greece's Environment Minister George Souflias and the also Greek European Commissioner for the environment Stavros Dimas, commenting on an exchange between the two officials that was closely watched by the media.

    "We see the positions of the EU Commissioner as the positions of a person that has an obligation to observe the regulations of the EU. We are doing the same. What is important is that the work for the environment be carried out in a serious, responsible way. This seriousness and responsibility that we did not meet in the past is happening under Mr. Souflias," Roussopoulos said.

    According to the spokesman, there was "a presentation of views" and Souflias had spoken very clearly about the issues that fell into his area of responsibility, as well as the actions taken by the Greek government over the last four years.

    The spokesman was also questioned about Souflias' reference to the use of nuclear energy and whether there was any conflict between the government's position on this issue. Replying, Roussopoulos said that there was no conflict and that he stood by his earlier statement on Tuesday.

    In comments on the minister's statement, Roussopoulos had said that the government was not examining the option of using nuclear power and that the minister's reference had been just that.

    The controversy, which also triggered concerned comments from Greece's opposition parties, was sparked by a statement made by Souflias during a conference on climate change and energy security on Monday night, in which he stated that the EU had been right to include nuclear power among the "green" energy sources. He had also stressed the need for Greece to reduce its dependency on coal for the production of electricity.

    [07] PASOK defence rapporteur briefed on defence issues

    Main opposition PASOK party rapporteur Vasso Papandreou was given her first briefing on defense issues on Wednesday, meeting Defense Minister Evangelos Meimarakis and afterwards, accompanied by Deputy Defense Minister Costas Tasoulas, she was given a briefing by National Defense General Staff officials.

    The briefing lasted for three hours and Papandreou said that more briefings will follow by the leaderships of the three services.

    Speaking afterwards, the rapporteur said that she conveyed her party's positions to the minister regarding military service, the officers' promotion list and the procurements of the Armed Forces.

    Papandreou called on the defense ministry's civil leadership to "abandon any thought of military service at the age of 18 or of the postponement of studies because, as she said, this is dangerous for young people's professional and scientific development, as well as for the country's progress."

    She also stressed that PASOK favors the overall evaluation of officers with objective criteria because, as she added, "if there are no objective criteria the danger exists of partisanship in the Armed Forces."

    [08] Head of Parliament Committee for environment visits President

    President of the Republic Karolos Papoulias on Wednesday received a visit from the chair of the Parliamentary Committee for the environment, ruling New Democracy MP Kyriakos Mitsotakis.

    As he emerged from the meeting, Mitsotakis underlined that the president's strong interest in environmental issues was well known and said that there was a need for "his very important contribution to the struggle to raise environmental issues higher on the political agenda".

    The president had asked to be briefed on the work done by the committee, Mitsotakis added and said that he had handed the president a memorandum summarizing its actions to date, while they discussed a series of visits begun by the Committee to areas of particular environmental interest. Among those visited so far were fire-stricken Ilia prefecture, and the national parks in Kozani and Evros in northern Greece.

    They also discussed the destruction inflicted on the forest on the mountainous regions of Grammos, again in northern Greece, during last summer's fires. Mitsotakis said the committee had not yet visited this region and agreed that it was a rare forest that had, fortunately, not been completely destroyed.

    Responding to questions, the MP indicated that he supported the creation of an independent environment ministry, noting that the government had already pledged to move in this direction, while disagreeing with the view that nuclear energy could be seen as "green" energy.

    [09] President meets with law enforcement leaderships

    President of the Republic Karolos Papoulias on Wednesday received the leaderships of the country's law enforcement agencies and fire brigade, who were accompanied by Interior Minister Prokopis Pavlopoulos and Deputy Minister Panayiotis Hinofotis.

    "In terms of the police force, I don't have too many things to say, you'll be judged from the results. You must be careful, because incidents that may be termed as incidental are often over-generalised, something that isn't fair, because you are trying," Papoulias said, in reference to this week's shooting death of a bus driver in Thessaloniki by a man who escaped from police custody with an officer's service revolver.

    Financial News

    [10] Greece-Bulgaria working group on energy cooperation

    Greece and Bulgaria have decided to set up a joint working group on matters of bilateral interest in the energy sector, such as the South Stream natural gas pipeline, the Burgas-Alexandroupolis oil pipeline, and hooking up their electricity grids, a development ministry announcement said on Wednesday, adding that the agreement was reached during a meeting on Tuesday in Athens between development minister Christos Folias and Bulgarian economy and energy minister Peter Dimitrov.

    The construction of a second 400 KW electricity link between the two countries is progressing at a rapid pace, and will adequately increase power imports and exports between the two grids, the ministry announcement said.

    It said Dimitrov had also congratulated Greece on the recent signing of an agreement with Russia for the South Stream natgas pipeline, calling it a "big success".

    Dimitrov also thanked Greece for its support for Bulgaria's course to NATO and EU membership, stressing that his country, as a member, now, of the European family, was marking significant economic growth.

    Folias, in turn, stressed the importance of good neighborhood relations between the two countries in the energy sector, and proposed acceleration of the timetables for materialization of the two pipelines.

    Regarding the procurement of electricity, Folias underlined the importance of smooth transit of electrical power to Greece, via Bulgaria, from third countries.

    The two ministers further agreed on a common principal of diversification of energy sources and routes that would ensure competitive prices and energy security, noting that South Stream would be supplementary to all other pipelines.

    [11] Development minister addresses Athens Summit 2008 conference

    Development Minister Christos Folias addressed the Athens Summit 2008 conference on "Climatic change and energy security" on Wednesday, stressing that the climatic crisis constitutes the greatest challenge for mankind and its successful handling requires policies that will promote sustainable development and will guarantee a viable future for the generations to come.

    "Long term development is only secured through a development policy that succeeds in incorporating the environmental dimension and the prosperity of societies will be all the more corresponding directly to the environmental responsibility that they show," the minister said.

    According to the minister, for issues related to climatic change and energy security, all (civilians, businesses, national governments, supranational organizations and non-governmental organizations) must cooperate with the aim of confronting the environmental crisis that is jeopardising the future.

    "Greece is being called on to provide its own dynamic and effective 'presence' in this struggle, since it is evident that development and environment are now two connecting circles," Folias said, adding that "in this direction, the Athens Summit is coming to offer fruitful ground for dialogue and for responsible reflection and I believe that it has contributed positively to the necessary public dialogue on climatic changes and energy security."

    [12] Greece pushes for more air links between country and Gulf States

    DUBAI (ANA-MPA / C. Halkiadakis)

    The Greek government this week continued its concerted efforts to broaden and expand trade and economic ties with the booming Gulf economies, as visiting Tourism Minister Aris Spiliotopoulos citing expanded air links between UAE and Greece as a necessary prerequisite for increasing "high end" tourism to the east Mediterranean country.

    Spiliotopoulos was received on Wednesday in Dubai by Sheikh Ahmad Bin Saeed Al - Maktoum, president of Dubai's civil aviation authority and managing director of Emirates Airlines, for talks on inaugurating the carrier's service to Greece. Along those lines, the high-profile Emirates executive announced that the company is in the process of establishing a new 200-plane subsidiary that will include Greece in its flight schedule.

    In response, Spiliotopoulos requested that the first Greek destinations be the holiday islands of Rhodes and Crete.

    Later, Spiliotopoulos met with the director of the Dubai information ministry, Sheikh Hasher Bin Jumaa Al Maktoum, for tourism-related talks. Al Maktoum referred to the good relations between the two countries, stressing that "we do not feel as foreigners in Greece".

    On Tuesday, the Greek minister toured a huge state-of-the-art luxury golf resort in the area.

    [13] Finmin, merchant marine minister hold meeting on ministry budget

    Economy and Finance Minister George Alogoskoufis and Merchant Marine Minister George Voulgarakis on Wednesday held a meeting to discuss the merchant marine, Aegean and island policy ministry's budget, as well as the progress of tenders underway for the concession of management rights to the container terminals at Piraeus and Thessaloniki ports.

    The meeting was attended by Deputy Economy and Finance Minister Nikos Legas and officials from the two ministries.

    [14] FinMin Alogoskoufis addresses letter to Financial Times

    Finance and Economy Minister George Alogoskoufis has sent a letter to the Financial Times newspaper, stressing that a report on the Greek economy appearing in Wednesday's edition of the newspaper creates mistaken impressions that do not do justice to the Greek economy.

    "On the occasion of a report appearing today in your newspaper, that is signed by Mr. Ralph Atkins, I would like to make certain remarks, because mistaken impressions are being created that do not do justice to the Greek economy. Apart from the index on the current accounts balance, which is referred to in the report, there is a series of other indexes that register a positive course and optimistic prospects for the Greek economy. The growth rate reached 4 percent on average over the past three years and, despite the international economic turmoil, it is expected to be maintained at high levels in the years to come as well. Unemployment has decreased at a steady rate in past years and it is expected to continue its downward trend," the letter said.

    [15] Deputy FinMin Pathathanasiou meets Commissioners

    BRUSSELS (ANA-MPA/M. Aroni)

    Greek Deputy Economy and Finance Minister Yiannis Papathanasiou visited the European Commission here on Wednesday.

    The Greek deputy finance minister met with Regional Policy Commissioner Danuta Hubner, Environment Commissioner Stavros Dimas, Employment, Social Affairs and Equal Opportunities Commissioner Vladimir Spidla and Consumer Commissioner Androula Vassiliou.

    Papathanasiou, during his meeting with Hubner, expressed satisfaction regarding the granting of 89.7 million euros to Greece for the wildfire affected regions by the European Union's Solidarity Fund.

    He also referred to his meeting with Dimas and said they discussed the management programme of solid refuse in Greece.

    [16] HELEXPO exhibition preparing to open in September

    The HELEXPO SA exhibition is preparing to open in September this year with a new impetus, ecological sensitivity being its "emblem" and with Italy being the theme country.

    The new programme of the 73rd Thessaloniki International Fair (TIF) was publicised during a press conference on Wednesday by the leadership of the national exhibition agency, mentioning targets and innovations that will be attracting the interest of over 300,000 visitors again.

    This year's event calls on firms to participate in the most multisector, vivid and innovative international exhibition, an exhibition that will be functioning on a 14-hour basis and will be flanked by 16 dedications, 16 entities and 16 exhibitions and will have a new digital dimension.

    Italy will be the focus of this year's dedication to national participations, being the theme country for all of the 73rd TIF having commercial, cultural, gastronomic and sports issues, activities that will exceed the limits of Thessaloniki's exhibition centre.

    [17] Doppler debuts in Alternative Market

    Doppler, one of the more rapidly growing Greek lift companies, on Wednesday made its debut in the Alternative Market of the Athens Stock Exchange. Doppler was founded in 2000 and has managed to establish a strong presence both in the domestic and foreign markets. The company offered 1,197,866 shares to selected investors through a private placement completed in April 14. Its capitalization totals 26.7 million euros. Attica Bank and Grant Thornton acted as consultants to the listing.

    ASE chairman Spyros Kapralos, in a brief speech during an event organized for the listing of Doppler in the Alternative Market, said:

    "For us, Alternative Market is a bet that has to be won. It is our proposal to efforts made by Greek Small- and Medium-sized Enterprises to grow. The possibility of draining capital from the Athens Stock Exchange offers them dynamism and significant growth prospects. Doppler is a Greek company fulfilling all quality characteristics making it ideal for listing in the Alternative Market".

    Stavros Stavropoulos, Doppler's chairman and chief executive said: "Our aim is to strengthen our development course with growth rates similar with those enjoyed until now. In the current phase, we focus on foreign markets by setting up subsidiaries in countries such as Poland, Romania, Russia and Ukraine".

    [18] Mellon Group sets up subsidiary in Turkey

    Mellon Group, a Greek company offering specialised high value services and technological solutions to financial institutions and enterprises, on Wednesday announced the establishment of a subsidiary in Turkey, Mellon Teknoloji Turkiye.

    The new company, based in Istanbul, will seek to meet the increasing needs of financial institutions in the country. "With a population of more than 70 million, around 50 financial institutions and more than 7,500 bank branches, Turkey is the largest and most mature banking market in which the group has expanded," Stephanos Karapetsis, Mellon's executive director said in a statement.

    [19] Greek hotel industry growing steadily, report

    The Greek hotel industry is growing steadily since 2005, a report by ICAP on hotel enterprises operating units in the luxury, A and B categories announced on Wednesday.

    Income from tourism and foreign tourists visiting Greece, particularly during the summer months, are the main source of revenue for hotel enterprises in the country. According to figures by the National Statistics Service, a total of 17.3 million tourists arrived in Greece in 2006, while hotel enterprises reported overnight stays totalling 57.8 million - of which 75 pct were foreign tourists. Tourism foreign exchange revenues totalled 11.357 billion euros in 2006.

    A total 9,111 hotel enterprises operated in Greece, with a capacity of 693,252 beds. Hotels in the third category comprised the biggest portion of the sector, with 4,460 units, while Crete accounted for 21 percent of total hotel beds in 2006, followed by the Dodecanese islands (17 pct) and the entire Macedonia province (14 pct). The hotel industry grew by an average annual rate of 5.8 percent in the period 1998-2006.

    The report by ICAP said the concentration of tourism in a specific geographical region, strong seasonal demand, inadequate supporting structures and strong dependence of Greek tourism enterprises on larger international travel firms were among the most significant and chronic structural problems facing the Greek tourism sector.

    [20] Piraeus Bank in 26.4-mln-euro share capital increase plan

    A Bank of Piraeus' repeat general shareholders' meeting on Wednesday approved a board plan for a share capital increase totaling 26,378,367 euros, through the issuance of 5,530,056 new common nominal shares. The issuing will be covered with the re-investment of the 2007 dividend at an offer price of 21.36 euros per share.

    The new shares will begin trading in the Athens Stock Exchange in June 18, 2008.

    [21] Greek closed-end investment funds' assets up 1.9 pct in April

    Greek-listed eight closed-end investment funds' net assets totalled 347.3 million euros at the end of April, from 340.9 million a month earlier, for an increase of 6.4 million euros or 1.9 percent, official figures showed on Wednesday.

    A monthly report by the Union of Institutional Investors, said the average numerical return of the sector was -12.98 percent, while the average weighed return was -13.94 pct. All companies in the sector reported negative internal value returns ranging from -9.88 pct to -20.65 pct. At the end of April, the average weighed discount of the sector was -21.01 pct, with all eight companies in the sector trading at a discount, ranging from 8.6 pct to 30.77 pct.

    [22] Greek stocks end 0.87 pct higher

    Greek stocks recovered on Wednesday, after a two-day decline in the Athens Stock Exchange. The composite index of the market rose 0.87 pct to end at 4,261.29 points with turnover an improved 316 million euros, of which 28.4 million euros were block trades.

    All sectors moved higher with the exception of the Industrial Products which ended 0.42 pct down. Raw Materials (3.31 pct), Financial Services (3.16 pct) and Telecommunications (2.67 pct) scored the biggest percentage gains of the day.

    The FTSE 20 index rose 1.04 pct, the FTSE 40 index ended 1.09 pct higher and the FTSE 80 index ended 1.49 pct up. Doppler (23.81 pct) Epilektos (14.29 pct) and Maillis (13.21 pct) were top gainers, while Quality (12.37 pct), Plias (6.90 pct) and ANEK (5.60 pct) were top losers. Broadly, advancers led decliners by 173 to 63 with another 53 issues unchanged.

    Sector indices ended as follows:

    Insurance: +0.77%

    Industrials: -0.42%

    Commercial: +1.92%

    Construction: +0.03%

    Media: +1.37%

    Oil & Gas: +1.88%

    Personal & Household: +1.89%

    Raw Materials: +3.31%

    Travel & Leisure: +2.12%

    Technology: +2.40%

    Telecoms: +2.67%

    Banks: +0.49%

    Food & Beverages: +1.35%

    Health: +0.53%

    Utilities: +0.19%

    Chemicals: +0.19%

    Financial Services: +3.16%

    The stocks with the highest turnover were OTE, National Bank, HBC Coca Cola, Alpha Bank and EFG Eurobank Ergasias.

    Selected shares from the FTSE/ASE-20 index closed in euros as follows:

    Alpha Bank: 22.11

    ATEbank: 2.79

    Public Power Corp (PPC): 26.72

    HBC Coca Cola: 28.22

    Hellenic Petroleum: 9.90

    National Bank of Greece: 36.74

    EFG Eurobank Ergasias: 19.38

    Intralot: 11.98

    OPAP: 25.66

    OTE: 19.96

    Titan Cement Company: 29.30

    Bank of Cyprus: 9.04

    Marfin Popular Bank: 5.80

    Marfin Investment Group: 6.06

    [23] ADEX closing report

    Turnover in the Athens Derivatives Exchange rose to 137.001 million euros on Wednesday, while futures contract prices maintained their discounts. The June contract on the FTSE 20 index was traded at a discount of 1.90 percent and the May contract on the FTSE 40 index at a discount of 1.0 pct.

    Volume in futures contracts on the Big Cap index totaled 10,122 contracts worth 112.111 million euros, with 29,587 open positions in the market, while on the Mid Cap index volume was 81 contracts worth 2.028 million euros with 225 open positions.

    Volume in futures contracts on equities totaled 13,613 contracts, worth 20.308 million euros, with investment interest focusing on OTE's contracts (3,160), followed by Eurobank (1,431), Marfin Investment Group (1,509), National Bank (828), Intracom (637), Marfin Popular Bank (1,094) and Hellenic Postbank (513).

    [24] Greek bond market closing report

    Turnover in the Greek electronic secondary bond market totaled 1.093 billion euros on Wednesday, of which 711 million euros were buy orders and the remaining 382 million were sell orders. The 10-year benchmark bond (July 20, 2017) was the most heavily traded security with a turnover of 320 million euros. The yield spread between the 10-year Greek and German bonds fell to 0.42 pct with the Greek bond yielding 4.61 pct and the German Bund 4.19 pct.

    In the domestic interbank market, interest rates moved higher. The 12-month Euribor rate was 4.96 pct, the six-month rate 4.87 pct, the three-month rate 4.85 pct and the one-month rate 4.38 pct.

    [25] Foreign Exchange Rates - Thursday

    Reference buying rates per euro released by the European Central Bank:

    U.S. dollar 1.555

    Pound sterling 0.794

    Danish kroner 7.522

    Swedish kroner 9.369

    Japanese yen 163.85

    Swiss franc 1.643

    Norwegian kroner 7.917

    Canadian dollar 1.558

    Australian dollar 1.644

    General News

    [26] Alleged bus driver shooter incarcerated pending trial

    A 33-year-old man charged in the homicide of a 62-year-old city bus driver last Saturday -- following his escape from a police car in west Thessaloniki in tow with a police officer's service revolver -- was ordered held without bail on Wednesday pending trial.

    In incident generated widespread media coverage in Greece and scrutiny on police training and methods.

    In his testimony before an examining magistrate, the suspect, identified as a convicted drug addict, maintained that he was in a state of confusion and that the handgun accidentally fired when the bus driver tried to disarm him. He also said he took the officer's revolver in an attempt to avoid arrest.

    Describing how he took the weapon, he said he removed it after opening a bag that belonged to one of the officers, a bag left unattended between the two front seats of the patrol car.

    He repeatedly apologized to the victim's family, while his attorney requested that his client undergo a medical and psychiatric evaluation.

    The 33-year-old is accused of intentional homicide, attempted homicide, burglary, kidnapping, resisting authority, robbery, and illegal possession and use of a firearm.

    On Saturday, the accused perpetrator repeatedly stopped unsuspecting motorists at gunpoint in his attempt to elude pursuing police vehicles during a frantic chase in the northern port city's streets.

    He shot the bus driver in an attempt to hijack the vehicle and later took a hostage in a residence before being arrested in the Neo Kordelio district.

    [27] Burglary ring involving nearly a score of foreign nationals busted

    Police on Wednesday announced the breakup of what they termed a massive burglary ring in the Greek capital, charging no less than 16 Albanian nationals with numerous felony charges.

    The suspects, aged between 15-30, are accused of forming a criminal gang, while five are already in police custody. Based on evidence gathered so far, the gang is suspected of committing 48 break-ins in residences, 19 car thefts and 14 robberies targeting companies.

    Seven of those who are still wanted are also accused of roughly 100 break-ins and thefts.

    [28] Passaris accomplice captured in Austria

    Romanian fugitive Mario Raducan, alias "Paul Popa", a reputed close associate of infamous one-time fugitive Costas Passaris, was arrested in Austria on Tuesday during a random traffic police check, reports state.

    A number of arrest warrants issued by Greek Police were pending against the man on charges of participating in a criminal gang, and after his fingerprints were found in an Athens' apartment used by Passaris. He is also charges with several counts of armed robbery.

    Raducan had escaped in 2004 during a transfer to Spain and a Spanish arrest warrant is also pending against him.

    [29] ELA appeals trial to begin on May 21

    An appeals trial for four defendents in the ELA terrorism trial was adjourned for May 21 following a request by one of the defence attorneys, who cited serious health reasons.

    Defendents Costas Agapiou, Christos Tsigaridas, Aggeletos Kanas and Irini Athanasaki were each handed down 25-year prison terms in the first instance trial on a variety of terrorism-related charges.

    [30] "Harry Truman" aircraft carrier visits Rhodes

    The "Harry Truman" aircraft carrier sailed to the port of the island of Rhodes on Wednesday from the Persian Gulf where it was since November.

    More than 3,000 American sailors and officers are on board the carrier.

    In the afternoon, local officials had the opportunity of seeing the aircraft carrier at close hand at a reception which was given and was attended by Deputy Merchant Marine & Island Policy Minister Panagiotis Kammenos and U.S. Ambassador to Greece Daniel Speckhard.

    The carrier will remain in Rhodes for a couple of days.

    [31] Photo exhibition at Munich Municipal Museum

    A photo exhibition entitled "Snapshots", comprised of works by Dimitris Soulas, will run at the Municipal Museum of Munich until July 6.

    The exhibition includes a total of 130 photographs taken by Soulas, who worked as a photojournalist in the Bavarian capital between 1967-1974.

    The exhibition was also presented at the Thessaloniki Photography Museum earlier this year, jointly sponsored by the Fotomuseum im Muenchner Stadtmuseum and the Thessaloniki Museum of Photography, with support of the Goethe Institute in Thessaloniki.

    Weather forecast

    [32] Cloud, scattered showers on Thursday

    Cloudy weather and scattered showers with northerly winds are forecast in most parts of the country on Thursday, with wind velocity reaching 6-7 beaufort. Temperatures will range between 6C and 24C. Cloudy in Athens, with northerly 4-5 beaufort winds and temperatures ranging from 10C to 21C. Rain in Thessaloniki, with temperatures ranging from 8C to 19C.

    Cyprus Affairs

    [33] Spokesman: we shall continue hard work towards a settlement

    NICOSIA (CNA/ANA-MPA)

    The Greek Cypriot side will continue to work hard for a successful outcome of the ongoing process of discussions, with a view to reach a comprehensive settlement, Government Spokesman Stephanos Stephanou said on Wednesday.

    "The Greek Cypriot side does not need any encouragement from anyone to work towards a settlement, since it is trying with good will and hard work to pave the way towards a political settlement," he told his daily press briefing.

    The spokesman was commenting on calls by Turkey's Foreign Minister Ali Babacan to the EU to urge the Greek Cypriot side to work towards a settlement, which will reunite Cyprus, divided since the 1974 Turkish invasion.

    "As far as we are concerned, it is the Turkish National Security Council that needs to be encouraged to work towards a solution, whose positions on Cyprus are extreme and contrary even to decisions of the international community, the UN Security Council and the EU," Stephanou pointed out.

    He noted that Babacan spoke about technical support to be afforded by the EU to the process which has started on the island between the

    Greek Cypriot and the Turkish Cypriot communities, to prepare the ground for substantive negotiations between the community leaders.

    Stephanou recalled that the President of the European Commission Jose Manuel Barosso speaking recently before the Turkish parliament called on Turkey to change its position.

    "We will continue to work hard and with good will as we have been doing so far to help the process underway succeed and open the road towards a comprehensive negotiation on the Cyprus problem," he added.

    Replying to another question, Stephanou said that the Greek Cypriot side has refrained from making any statements "because we believe that extreme positions, provocations and public negotiations do not help the current process."

    "That is why we maintain a low profile and we do not make any statements," he said, adding that "what we have said so far was sometimes in order to respond to statements made."

    "We have said from the very beginning that we will keep a low profile, we will show patience and in a calm manner because we want these process to succeed and we want every side to raise those issues that it wants to during the process and to discuss it there, even if there is disagreement or a gap between positions," he added.

    Commenting on remarks from the Turkish Cypriot side that the Greek Cypriot side is trying to impose the basis of negotiations and that President Christofias is talking about the future status of Turkish settlers, in Turkish occupied Cyprus, Stephanou said that "we have not opened any issue, including the issue of the settlers."

    "The basis of a settlement that we pursue is what we has been agreed between us, the High Level Agreements of 1977-79, the 8 July Agreement and the 21 March Agreement, UN resolutions and international law and European law principles, bearing in mind that Cyprus is an EU member state and Turkey aspires to be a member," he noted.

    These agreements and decisions refer to a bicommunal bizonal federation in Cyprus and not two states, as the Turkish side has often advocated.

    In March 2008, President Christofias and Turkish Cypriot leader Mehmet Ali Talat, during a meeting in the presence of the UN, agreed to set up working groups and technical committees to deal with various aspects of the Cyprus problem with a view to prepare the ground for substantive negotiations between the two leaders. Six working groups and seven technical committees were set up and are currently holding meetings here.

    [34] Cyprus becomes full member of WEU Parliamentary Assembly

    NICOSIA (CNA/ANA-MPA)

    Cyprus has become a full member of the Parliamentary Assembly of the Western European Union (WEU), with full rights of speech and vote at the instruments of the Assembly, just like all the new EU member states.

    According to an official press release, the development took place during a conference organised this week by the Parliamentary Assembly with the collaboration of the French National Assembly, in view of the assumption of the EU Presidency by France on the strategic choices for European security and defence.

    President of the Committee on Legal Affairs of the House of Representatives Ionas Nicolaou represented Cyprus at the meetings of the Committees of the Assembly.

    The Assembly discussed the issue of European security and defence in the light of the possible adoption of the Reform Treaty, the role of Europe in peacekeeping missions in the Middle East, and the proliferation of nuclear weapons.

    It also examined the role of national parliaments in funding military and non-military missions outside Europe, and the issue of parliamentary control over information services.

    36, TSOCHA ST. ATHENS 115 21 GREECE * TEL: 64.00.560-63 * FAX: 64.00.581-2 INTERNET ADDRESS: http://www.ana-mpa.gr * e-mail: anabul@ana gr * GENERAL DIRECTOR: GEORGE TAMBAKOPOULOS


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