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Athens News Agency: News in English, 09-09-28

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

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

CONTENTS

  • [01] Patriarch calls for measures to avert climate change
  • [02] Market watchdog fines 4 insurance firms total of 32.5 mln euros
  • [03] Most profitable Greek companies
  • [04] Stocks end 1.55% higher

  • [01] Patriarch calls for measures to avert climate change

    ISTANBUL (ANA-MPA / A. Kourkoulas) -- Ecumenical Patriarch Bartholomew (Vartholomeos) issued an appeal to the international community to take measures to avert "more unfortunate consequences of the climate change" in view of the imminent UN Climate Change Conference in Copenhagen in December and an environmental conference in Bangkok.

    "Reaching a good agreement in Copenhagen is a moral obligation in order to save the world and is also the only path to economic and social survival," the Ecumenical Patriarch stressed, adding that "dealing with climate change should not be regarded as economic burden but as an important opportunity for a healthier planet to the benefit of all humanity; the states that are not as developed, in particular."

    "The crucial nature of the situation, and the scientific and technological progress, show that global economy should turn toward renewable energy sources and avert further deforestation," the Ecumenical Patriarch stressed, adding that this is an obligation toward the children of the world.

    [02] Market watchdog fines 4 insurance firms total of 32.5 mln euros

    (ANA-MPA) -- Greece‚s market watchdog on Monday announced fines totaling 32.5 million euros against four insurance companies for price-fixing practices, urging them to change their practices within a period of three months or face additional fines of 10,000 euros per day.

    The country‚s Competition Commission said it would fine National General Insurance 13.5 million euors, ATE Insurance (5.3 million euros), Interamerican (8.5 million euros) and Groupama (5.2 million euros) for price-fixing practices in vehicle damage evaluation

    [03] Most profitable Greek companies

    (ANA-MPA) -- Hellenic Telecoms (OTE), National Bank and Cosmote were the most profitable groups in Greece in 2008, a survey on Business Leaders in Greece, published by ICAP Group, announced on Monday.

    ICAP said the survey included the 500 most profitable companies and the 200 most profitable group of companies in Greece based on their EBITDA and balances sheets for the year 2008.

    The 200 most profitable groups recorded a 20-pct increase in annual turnover, while EBITDA fell 9.0 pct in the year, while the 500 most profitable companies reported a 13-pct decline in pre-tax, interest and amortization earnings.

    The top 20 groups accounted for 71 pct of total EBITDA in 2008 and 60 pct of total turnover. Hellenic Telecoms (OTE) was the top group in 2008, followed by National Bank and Cosmote SA.

    ICAP said the 500 most profitable companies recorded a 19-pct increase in turnover hit by higher than expected costs, while the 500 companies accounted for 79 pct of total EBITDA. The 500 companies of this year‚s list, reported 4.3 billion euros less profits compared with 2007.

    [04] Stocks end 1.55% higher

    Stocks jumped to new 2009 highs at the Athens Stock Exchange on Monday, with the composite index of the market rising 1.55 pct to end at 2,652.03 points. Turnover was 235.6 million euros, of which 6.5 million euros were block trades.

    Most sectors moved upwards, with the Media (10.35 pct), Chemicals (6.82 pct) and Insurance (6.75 pct) scoring the biggest percentage gains of the day, while Utilities (0.44 pct) and Travel (0.24 pct) suffered losses.

    The FTSE 20 index rose 1.93 pct, the FTSE 40 index ended 1.58 pct higher and the FTSE 80 index ended 1.04 pct up. Broadly, advancers led decliners by 114 to 99 with another 47 issues unchanged.


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