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Athens News Agency: News in English, 08-10-27

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

From: The Athens News Agency at <>


  • [01] PM Karamanlis ends visit to Qatar
  • [02] Greek stocks jump 4.04 pct
  • [03] Greek, Qatar Chambers

  • [01] PM Karamanlis ends visit to Qatar

    Greek Prime Minister Costas Karamanlis on Monday paid a visit to the worksites of two Greek construction companies participating in the construction of major infrastructure projects in Qatar.

    Karamanlis had earlier visited the offices of J&P Avax, accompanied by his wife Natasha, Foreign Minister Dora Bakoyannis and Deputy Foreign Minister Petros Doukas. The company is carrying out works on Pearl Island in Doha.

    This is a man-made island created through land reclamation, which is destined to be turned into a complex of luxury residences and has an estimated cost of 700 million dollars.

    The premier and his entourage then visited the worksite of the construction company Aktor, which has undertaken to construct a section of the new airport in Qatar's capital, and were briefed in detail by a company representative.

    Aktor is the head of a consortium that has undertaken to complete the project, worth an estimated 1.2 billion dollars and employing about 150 Greek and Cypriot workers.

    The company is also involved in works costing 4.3 billion euros on the Arab peninsula that employ about 200 Greek engineers. The company has a long-standing presence in Qatar, which is a base for expansion to Asia and Africa.

    After the briefing, the prime minister and his delegation left for Athens.

    [02] Greek stocks jump 4.04 pct

    Greek stocks rebounded strongly in the Athens Stock Exchange on Monday, despite a negative climate in other European markets. The composite index of the market jumped 4.04 pct to end at 1,798.24 points, reversing an early sharp drop to 1,642.56 points. Turnover was a strong 423.4 million euros, of which 200.1 million euros were block trades.

    Most sectors moved higher, with the Food/Beverage (9.32 pct), Banks (8.93 pct), Insurance (7.01 pct) and Industrial Products (4.68 pct) scored the biggest percentage gains of the day, while Travel (3.05 pct), Telecoms (2.81 pct) and Media (1.30 pct) suffered losses.

    The FTSE 20 index rose 4.77 pct, the FTSE 40 index ended 4.84 pct up and the FTSE 80 index rose 2.80 pct. Broadly, advancers led decliners by 147 to 100 with another 36 issues unchanged.

    [03] Greek, Qatar Chambers

    The Hellenic Federation of Enterprises (SEV) and the Qatar Chamber of Commerce and Industry on Monday signed a cooperation protocol in the presence of Greek Prime Minister Costas Karamanlis. The agreement was signed at a business forum held in Qatar during Karamanlis' visit in order to promote bilateral economic relations.

    SEV and Qatar's Chamber of Commerce and Industry announced plans to set up a Greece-Qatar Business Council.

    Signing of behalf of SEV, the federation's vice-president Thanasis Lavidas referred to the difficult conditions created by the international financial crisis and said that business communities could provide the answer through a dynamic increase in investment and commercial activity in foreign markets. He called on Greek businesses to turn their attention to markets that were resisting the crisis and still growing rapidly, like those of Qatar.

    According to figures cited by Qatar officials, the local economy has grown rapidly in recent years, by up to 20 percent from 2003-2007, due to its large reserves of oil and natural gas that generate 60 percent of the country's GDP and 90 percent of its exports. It is also a favourable environment for foreign investment and imports, with a particularly dynamic construction sector comparable to that of Dubai and driven by ambitious infrastructure projects.

    CAPTION: File photo of SEV vice-president Thanasis Lavidas. (ANA-MPA)

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